the war against the pandemic. he will speak with us live at 8:00 a.m. eastern. join us for that. thanks to the special panel, lee, dagen, mitch. >> thank you, maria. >> thank you. maria: great show, everybody. thank you. see you again tomorrow. "varney & company" begins right now. everybody go seize the day. stuart, take it away. stuart: i'll try. good morning, maria. good morning, everyone. this is the week when the back-to-work movement accelerates. in many states, the stay-at-home rules are scheduled for review by thursday, april 30th, some relaxation expected by friday which is may 1st. it really got rolling this weekend. some states have already started to open up. beaches are open some places. some parks, barber shops, hair sa salons, a few restaurants open. the weather has made a difference. it's spring and more people were out and about to enjoy the sunshine. the great opening up has begun. now it's a question of convincing people that it is safe to go back out.

nobody wants a second wave. the market starts the week on the upside again. investors like the get back to work trend and there are several forecasts of imminent recovery for the economy. secretary mnuchin says there will be a rebound july, august and september. the dow is looking at a 200 point gain first thing this morning. that's close to 1%. a nice gain for the s&p, close to 1%. the nasdaq will be up over a half percentage point. now, the reason the nasdaq is up, because of this. this week, many big tech companies report their financial position. strong results expected because the virus lockdown has a more limited effect on these companies. premarket, most of them are up. but look at oil. no joy for the drillers. they are looking at $12 a barrel and the worldwide glut shows no sign of easing. over the weekend, the price slump claimed another victim, diamond shamrock. the drillers declared

bankruptcy. the price of gas still falling, albeit slowly, about one cent down a day. the average is now $1.77 nationwide. a year ago, it was $2.88. "varney & company" is about to begin. i refuse to throw away all the effort and the sacrifice of the british people and to risk a second major outbreak and huge loss of life and the overwhelming of the nhs and i ask you to contain your impatience because i believe we are coming now to the end of the first phase of this conflict, and in spite of all the suffering, we have so nearly succeeded. stuart: you have it, there's boris back at work urging his

country stick with the lockdown, as he says, contain your impatience. remember, boris johnson, prime minister, he was in intensive care for two nights but he's back on the job as of now. lot of businesses began to reopen across the country just this past weekend. come on, lauren simonetti, what's been going on the last couple days? lauren: in one city in texas, they opened a restaurant and had the beautiful patio so you could dine in the restaurant provided it was outside. it was packed, stuart. governor abbott is expected to make an announcement this afternoon, it's expected restaurants can open may 5th, nightclubs can open two weeks after that. did you see the beaches in california over the weekend? some of them packed. the issue is only some beaches were open and just a few miles away, others were closed. so the rules were odd as well. frisbee, that's okay, but sitting at a fire pit was not okay. but there was a heat wave in california, people needed to get

out of their houses. let me tell you what opens today, if you will. let's start in colorado. real estate showings, in person, can begin in some parts of colorado. in mississippi, the stay-at-home order expires today. it is lifted today. it will be replaced by safer at home, expect to hear some new restrictions. but mostly opening up that state. and tennessee, you will like this one. starting today, restaurants can open provided they are half full so operating at 50% capacity, and on wednesday, ditto for retail stores in the state of tennessee. stuart: i can see it, it started already. it accelerates later this week. let's not forget it's may 1st on friday. that's a big deal. a lot of those restrictions come off on thursday. thanks, lauren. quick look at futures. up nicely this morning. that may be because we got big tech reporting their position, financial position, later this week, and maybe there's a feeling, susan, come into this,

susan, there may be a feeling big tech's going to do quite well and that's why futures are up this morning. susan: yeah, relative to the rest i guess because this is the biggest week for earnings. we have 40% of the dow components reporting results, a third of the s&p and the biggest of the big companies out there will be coming out with results. google, apple, amazon, facebook, alphabet, tesla, starbucks as well. so far, we have had 65% of s&p companies beating on earnings but we do look at profit being down so far for the quarter, down close to 20% from last year, but i guess if there's a silver lining, sales have come up better than expected. but earnings are looked at as less reliable these days, as a bit of distortion effect, obviously, with the stay-at-home orders. the there's a lot of central bank stimulus priced in as well. some are still looking for recovery in the back half of this year given that we have benchmarks, just 15% away from record highs once again.

stuart: how about that. susan, i notice on the screen there, apple is up a fraction this morning, up 40 cents at $283. don't they have an iphone production delay announced today? susan: according to the "wall street journal," the "wall street journal" is reporting this this morning it looks like they will i guess delay their mass production of the next generation iphone by just about a month. they are still looking at four handsets being released in the september-october period. some will be 5g, three sizes, oled screens and iphones still account for more than 50% of apple sales. for the first time since 2015 in the past year, they have failed to ship 200 million of their flagship devices, but it's not like we haven't seen this before. for instance, back in 2017, remember the iphone x or 10, as you want to call it, it was delayed because there were production glitches. eventually they got it out in november of that year. most analysts say it doesn't matter when they release the iphone as long as it's before the all-important holiday shopping period which is still

likely at this point. stuart: doesn't matter when you release, as long as people buy it. there you go. susan: for christmas. yes. stuart: keith fitz-gerald is here to give his full name and title. keith, welcome back to the show. big week for tech. let me emphasize my point here, see if you agree. i think the big tech was least affected by the lockdown. what do you say? >> not only do i agree with that, stuart, but i think big tech is going to grow considerably because of the lockdown. we are figuring out new ways to do things. we've got new challenges with data. to those are going to be overcome. 480 million service subscribers, that's going to grow. these companies have mrplenty o cash, strong balance sheets and will emerge on the other side even stronger. i take your point up a notch. stuart: when i look at the services and products i have been using during this five,

six-week lockdown, big tech is very very prominent. i think their role, when this is all over, is going to be enhanced. i think there is an even bigger, more important on the other side of this virus. you with me on that, too? >> i am. you know, there's another benefit here. before the virus hit, we were on this narrative of big tech is the evil stepchild of 40 years ago when we unleashed the internet but now i think there's a daunting responsibility in silicon valley that hey, these things matter to more than just devices, more than just bits and bytes. they are important to our life. the discussion that was long overdue is finally going to happen. stuart: got it. keith, stay there. more for you in a second. let's bring in ashley. the price of oil this morning is down to, what is it, 12 bucks a barrel. diamond shamrock on the screen are bankrupt, is that correct? ashley: that's exactly right. diamond offshore drilling, this is a company who gets contracted by the big oil companies to go

out and do exploration, look for oil. they have filed for bankruptcy. not a huge surprise. they missed their interest payment last week, they have also brought on board financial analysts to guide them forward and the only way out with oil at 12 bucks today, there's just no way out. they cannot survive and therefore have filed for bankruptcy. certainly not the first and not the last. we will see a lot more of this with oil at $12.81. stuart: the oil price slump is going to continue for the immediate future, for sure. how do you relieve a world glut when the world is still basically shut down. all right, ash, thanks. we have new numbers from the congressional budget office. it says gdp, the economy in the second quarter, that's april, may and june, will shrink 12%. how about that. the deficit could hit $3.7 trillion by the end of the year. keith fitz, come back in again. the numbers over the next month are going to be really, really bad. i mean, we know that.

what do you make of secretary mnuchin saying we are going to bounce back july, august, september? are you on board with that? >> i am on board with mr. secretary. i think that the numbers, as bad as they're going to be, were unavoidable which means we had to spend that money not as a matter of choice but a matter of survival because millions of americans are hurting right now. millions of people around the world are hurting right now. so digging our way out of that if we look at the recovery, there is no question in my mind that's going to happen. big tech is going to lead the way. everybody else is going to come along. it may take a little longer than we expected but i am firmly in that camp. stuart: nicely wrapped up there. thanks very much indeed. i want you to take a look at general motors. why? because they suspended their dividend and suspended stock buy-backs. they trying to save cash because of the virus, obviously. this morning, they are down 2.25%, $21 a share. that's gm today. ford motor company calling in skeleton crews to some of

their plants. this happens today. they are preparing for wider reopening in the near future. the stock still shy of $5 a share. amazon extending that $2 per hour virus pay bump at fulfillment centers. they get the extra $2 all the way through may 16th. the stock, look at it go, up 35 bucks again this morning, $2445 per share. that's amazon. futures still show a nice gain, up 200 for the dow. best part of 1%. many states slowly reopening. texas hoping to do this on a county by county basis. lawrence jones joins us at 11:00 eastern. he's a texan. i want to know what he thinks about the reopening of texas. here's a winner in the pandemic. house party, especially with young folks. it's the video app that helps people stay connected. massive growth because of the virus and stay-at-home. their ceo is on the show the 11:00 hour. what does co-diagnostics and

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stuart: so that would be a real u-shaped recovery, not quite a v for the economy, but certainly a u. i think -- >> it might be a kind of v-shaped u. stuart: okay. >> you may not find it on your computer. it's a kind of v-shaped u. you know what i mean? stuart: oh, i do. >> upward movement. what is it -- we'll hold out on that. stuart: having a little fun with larry kudlow on the show last week there. what's the shape of the recovery. v or u-shaped v. what is it? lots of people have chimed in on the shape of the recovery including apple's tim cook.

what's he saying, susan? susan: well, president trump says that tim cook, as the head of apple, shares his view there's going to be a quick bounce-back in the u.s. economy in the back half of this year. listen. >> i just spoke with tim cook of apple and he would like us to do things, he's going to be spending tremendous amounts of money in our country, he's going to be bringing back tens of billions of dollars into our country, he's going to build and he feels we're going to have a v. n you know what the v is. we're talking about the u or the v or maybe a flat line but he thinks it's going to be a v. that's his own impression. he's had some pretty good impressions. susan: cook is, of course, one of the business leaders president trump has tapped for his white house economic panel and they have a close working relationship. some would say tim cook was probably one of the first in silicon valley to engage with the white house and we know that jobs has been something that both of them have been shall we say in alliance with in creating

new jobs in the u.s. so apple says they will invest $350 billion in the economy by the year 2023. they are on track for that. they have 90,000 employees across the u.s. they support 450,000 manufacturing and operation jobs and when one of the most influential tech ceos on the planet says we are going to get a v, not a u, i think you have to listen to that. stuart: absolutely. the man leads the most dynamic company in america, if not the world. when he says a v, that's very good news for the economy. susan: i do want to caveat this. this is important. i did ask apple to confirm this and they said we have no comment. stuart: okay. he wouldn't comment on a conversation between the ceo and president of the united states. that's entirely understandable. i want to bring in dwight egan, frequent guest on the program, the co-diagnostics ceo. dwight, welcome back to the program. i wonder if you would act as your reporter on the whole

testing process. i know you've got tests out there. can you tell us how many tests you've got, this is for whether you've got the virus or not, whether you are carrying it. how does it work and how fast do you get the results? can you report on that for us? >> certainly. the test that we do detects the actual virus in the patient. the test takes about 90 minutes from start to finish. that includes taking the sample from the patient, doing an extraction of the virus and then putting it into a pcr machine which takes about 45 minutes to an hour to give a result. now, the actual sample from the patient can be something from the nose, the back of the throat, and of course, a new test that is doing it with saliva. stuart: that's the spit in a cup test. do you have that, dwight? >> we are doing that with a company called oral dna labs. they are an innovator in saliva tests and they have a great test in that area. stuart: do you see this whole

process speeding up in terms of when you get the results? >> i think that the pcr test has certain limitations that will keep it to be a 90-minute test like we have been experiencing, but i think the availability of those tests is what is important and what we have to work on as a country to get people back to work. the test utah initiative, for instance, tested 27,000 people just last week. that's almost five times more than a neighboring state with a similar population. that's because the companies along with the state of utah put together a very impressive program that is testing people much faster, much greater access than they've had before. this is now being duplicated in other states. last week at the white house briefing, vice president pence

indicated that the governor of iowa has adopted a similar initiative using our test, by the way, in which they plan to triple the testing availability in the state of iowa. this is the kind of thing that the country must do, and do it rapidly and aggressively, in order to get the country back to work. we have other states which are also following suit. stuart: all good news. could you tell me, please, about the tip from ashton kutcher? what happened here? what's going on? >> well, i think ashton just realized in looking at what's going on at co-diagnostics and with the test utah initiative, this was a very good way to break the logjam and get other states following suit. you know, if you look at the country as a whole, utah is number five in terms of the amount of people that are tested per 100,000 residents. so the more we get a lot of people tested very quickly and regularly, the more we are going

to be getting people back to work. stuart: dwight egan, co-chair, co-diagnostics, thank you very much for joining us, sir. we really appreciate it. without talking up your own book, excellent stuff. >> thank you. appreciate it. stuart: take a check on facebook, please. they have announced their answer to zoom. their answer is called messenger rooms. up to 50 people can join at once, all for free. the stock's up $3.60 -- $3.40 on that basis. $193 is your price now on facebook premarket. how about potbelly? the sandwich guys? they are going to return that $10 million small business loan. the treasury department says publicly traded companies have to return the money if they don't have another source of capital. potbelly is languishing around $3 a share. overall, this is a monday morning, the start of the accelerating back-to-work movement. we will be up across the board, especially the nasdaq. a gain there of better than 1%.

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the piece you wouldn't have and the business owners who are feeling pain, retail stores, hospitality, hotels, et cetera.

that is a more problematic area to open up, even in some of the states that are rushing to open. so that is a complex sector to deal with. stuart: okay. you picked that up. that's governor cuomo, new york state right there. retail and hotels, potential problem area, maybe the last to open up. jeff sica is with us again. jeff owns hotels, runs the things, developed them. this is looking bleak for your industry but let's look beyond, let's look to the opening up. what plan do you have, how will your hotels be organized, when you can open back up again? >> well, first of all, i think as much as the industry has probably suffered the most, just about the most of any industry along with retail, it's also probably the industry that's going to have the biggest resurgence when things improve because people who have been locked in their houses for this long are going to be excited to

travel, to get out, so yes, there is a plan and it has everything to do with first of all, following the standards, the protocol, but second of all, to make sure that it's things like deep cleaning, for example, hotels, especially hotels in new york city, that have some of the best hotels in the world, they need to prove to the governor, to the mayor, to the future tourists that these hotels will be cleaned, taken care of, they will have much more attention paid to making sure that viruses can't survive on surfaces and people feel comfortable staying again. but i expect a big resurgence in the industry. people are going to want to get out and we have to be ready for them. stuart: i mean, that's your job, isn't it. that's your challenge, convincing people that it's safe. there's no point in opening up, making a big fan dp fafare if p

don't come because they don't feel safe. then again, you do have an advantage in the sense you don't have to worry about social distancing rules. it's not like a restaurant reopening with all kinds of problems there. you have a little bit of clearer field with hotels, i think. >> we do, but here's the one thing, stuart. i have explained it, a lot of hotels, we make a certain amount of revenue on the rooms but we make a lot more revenue on the hotels or the bars so yeah, there is social distancing is a major concern. if we have to adhere to very stringent social distancing protocol, it's going to greatly affect our ability to make money in those peripherals outside of the rooms so as much as we want to get those rooms open, i mean, when you open up the rooms, hotels, basic room rentals are

based on occupancy so a lot of these hotels are going to open up with very low daily rates that are going to track -- stuart: jeff, i have to leave you. i have to get to the opening of the market. we wish you the best of luck. we are intrigued at your forecast of a nice bounce-back for your industry, hotels. here we go. 9:30 on a monday morning. we are off and running. we are going to the upside in the very very early going. there you have it. on your screens, bottom right-hand corner. at the moment, we are up about half a percentage point, that's the dow industrials. the vast majority of the dow 30 are in the green as we speak. now look at the s&p 500. that is also on the upside. that's a better gain percentage-wise, almost .75%, a 20-point gain on the s&p. the nasdaq, this intrigues me, the nasdaq is up sharply. well, not that much. up .90%. still a solid gain. i'm going to show you big tech, because they are reporting this week. let's have a look at the very early going.

amazon is up 29, microsoft, $2 up there. facebook is up two bucks. google is up 13. apple is down $1.32. give me some more headlines on these tech earnings and the tech financial results, susan. susan: well, they are going to be reporting obviously this week and some say you have to look past it, we read reports this morning from cowan saying that apple, for instance, reporting on thursday will not be giving guidance for the next quarter ahead. that might be something that we are anticipating for most of these tech companies since it's such a fluid, distorted market that we are in. for instance, sales have fallen off a cliff, also you have a lot of central bank stimulus as well. but all three trillion dollar companies and that's apple, microsoft and amazon, will be reporting this week. so far, we have seen i guess a beat when it comes to profits, from what i see, 65% on the s&p has actually reported better than expected profit and sales have come out a little bit better as well. but look, we are bleeding a lot from last year, down some 20% in

earnings from 2019. stuart: okay. but so far, premarket, big tech is up and very nicely so. the dow is up 112 as we speak. as usual, we've got some news on boeing. i don't know whether it's good or bad. the stock is down 10 cents. what's the news, ashley? ashley: well, there's a report by bloomberg that boeing may have to cut its production of the 787 dreamliner in half, both at the plant in south carolina and on the west coast. that could mean job reductions. also means the production rate could fall into the single digits. let's not forget boeing will report first quarter earnings on wednesday. investors want to know how are you going to cut near-term losses and deal with the new world once we get through this epidemic and pandemic, how are you going to cover your costs? how indeed are you going to deal with fewer orders and a much smaller airline industry in the beginning. the question is, where's the money going to come from to help

you bridge the gap and how much money do you want to take from the government. stuart: is the news on airbus, the european plane maker, as well? ashley: yes. the ceo has put out a note to employees and this paints a very dire financial situation. he says the company is bleeding cash at an unprecedented rate. he said they have already cut production by a third and in order to just survive, they are looking at more cuts, more job layoffs, more furloughs. the ceo of airbus saying we are in desperate straits, we need to get back to work, so really laying it on the line for the employees and certainly the french government as we know they do, they take a look at how it can help airbus survive. stuart: got it. overall, we just opened the market three minutes ago. we are up. it's not a huge gain by any means. a half percentage point up for the dow jones average. that's 120 points. here's the anxiety indicator, the yield on the ten-year treasury. as the money goes into that

treasury, the yield comes down. so when you see the yield go up, that means money's coming out of treasuries. perhaps going into stocks. that's what you've got right now. .62% is the yield on the ten-year. how about gold? hanging around just above $1700 an ounce. still there, $1733, the price. oil, got to get to that. the price of oil, down to -- get that off the screen, can you. the price of oil, i know it's down around $12 a share. look at those big oil stocks, down, down, down, down, down. susan, anything more on oil? susan: so we are expecting opec cuts to go into effect this friday. they will take off around 9.6 million barrels, representing around 13% of global oil supply, but people say that's still not enough at this point. you still need to cut around 10 million barrels of u.s. production as well. that's probably what's going to happen. we know that oil rigs taken out of the market is at 50% right now, 50% of the oil rigs in the

u.s. have now closed down because there's nowhere to put it. people are not driving. they're not taking planes. therefore, planes are parked and they are not using jet fuel and some say the oil prices down five bucks, by the way, this morning. that's around 26% down from current levels in prices. if that's going to continue for june, july, maybe august, that negative phenomenon we saw for oil prices may not just be a one month may event. stuart: good point. back in last month it was, or just recently, we saw the price of oil go negative because those people had bought oil, did not want to take delivery and had to pay people to keep it. keep it in storage some place. we are in the same situation, somewhat similar, because we are running out of places to store this stuff, we are still producing some of it, the demand remains very very low. i can see it is possible that when it comes time to deliver the oil, which is the current contract, you might go back to negative again.

it's not out of the question, is it? susan: it's not out of the question but there are some bright spots. for instance, china has started processing more oil. they have lifted off their february low because the economy has reopened after trying to contain covid-19. china is the largest buyer of oil since the u.s. produces and uses their own oil so if china is buying more oil, i think that might set a floor to oil prices but who knows. you still have the possibility of going negative at least for the near term and the near term months. stuart: we have an oil analyst on the show later who says it's not going to drop below $10 a barrel. we shall see. all right. thanks, susan. disney. oh, dear. their parks, theme parks, are closed indefinitely. lauren, have you got any insight into what they might look like when they do reopen? lauren: five changes can be expected at disney theme parks and hotels. this information does not come from disney, it comes from contractors and experts likely advising disney. number one, obviously no lines.

they will have their virtual queues. no 3d glasses. a lot of the rides started to be 3d. even if the glasses are cleaned, people aren't going to want to reuse them and put them on their face. no-touch ticketing. okay. fine. but i was surprised that 75% of tickets are purchased on the property so they will have to change that. also, the new bag check is going to be your temperature check. number four, meals, disposable menus, dining rooms that are maybe half full. the character dining, very popular, not sure what happens to them. finally, jeff sica was talking about this in the hotels, maybe a lot of literature. this hotel room was cleaned two hours ago or maybe they keep rooms not booked for a few days as well. stuart: you know, those are some serious changes to how they do business in hotels and theme parks. look, in my opinion, people will come back, with precautions like that, i think people will come back in droves. that's just my opinion. what say you?

lauren: i hope you're right. with these precautions, i think i would take the family to disney. give us something to do. we are dying for something to do. stuart: you are still at home with two young children, i believe, is that correct? lauren: i am. i am. we have been very creative. need i say more. oh, boy. it's tough. it's really tough. stuart: you are saints. absolute saints, as far as i'm concerned. all right. thanks, lauren. check that market. we are up 130 on the dow industrials. that puts us up about half a percentage point. but look at that level. we are close, close, that is, to 24,000 on the dow. five, six weeks ago it was 18,000. senator tom cotton says china deliberately spread the virus to the rest of the world. whoa. there's an inflammatory charge. general jack keane will join us and dispute that or talk about that, at least. johnson & johnson, the company, says they will have over 600 million coronavirus

vaccines by next year. the company's cfo is here to explain how they are going to do that. he's on the show. retailers. how about this for a headline from ubs. 100,000 stores could close by 2025. that's not just the retail ice age. that's retail destruction. we are on it next.

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stuart: i'm going to put tesla's stock up on the screen for you. why not. it's up 36 bucks. 5%. $763. that's the price of tesla's stock now. susan, why is it up so much? susan: well, okay. first of all we have earnings this week as well, but some are hoping that maybe fremont, their main production facility, will be reopened pretty soon, hopefully this week, because we have plant leaders sending out messages to workers in the factory, those working in paints and stamping, asking them to confirm whether or not they can return to work as early as this wednesday, but there's a problem, because that go in d y

defiance of california's shelter in place order which extends to may 3rd. tesla is arguing they should reopen fremont because it's an essential business. they want to characterize it as national critical infrastructure under the department of homeland security, but california and alameda county health has determined that keeping the plant open is a health risk and there will be misdemeanor fines if they go against that shelter in place order. so we'll see. stuart: yeah, we will. it's at $764 as we speak, almost $40 higher. 5%. that's a rally for tesla. look at the credit card companies. now, i want to know what happens to those people who don't pay their credit card bills, because of the virus and they are maybe out of work. what happens to them? ashley: yeah, well, some of the credit card companies, some of the banks are allowing them quote, to pause payments. otherwise, we understand the hardship you're in. others are not. some are waiving late fees,

forgiving or, you know, reducing interest on these repayments. but bottom line, when the economy heads south as it has, big time, the first areas, one of the first to get hit are the credit card payments. people say look, americans were already, many americans were already financially stressed before the pandemic. using credit cards for rising costs of health care, college, housing, so once this has hit, this has just made the situation even worse. we are expecting delinquencies to absolutely soar by the end of the year, as you can imagine, stu. stuart: yep. understandably. thank you very much, ash. i'm going to repeat that headline we got from ubs, big investment firm, about retailers. they say 100,000 bricks and mortar stores will close by the year 2025. that is retail destruction. come in, gerald storch, our favorite retail guy. gerald, would you be prepared to say that the department store is

the primary casualty of the lockdown, and they're gone? they will not reappear in their old form? what do you say? >> well, most department stores are struggling mightily before this hit. they are already wounded. many are overleveraged. we know as a fact that both neiman marcus and jc penney are preparing bankruptcy filings imminently, whether it's today or the next week or two, very soon you will see both go into chapter 11. i believe more of them will follow. the customer didn't really need the department store anymore. before this hit. now they know they really don't need it and aren't buying apparel or fancy handbags or things like that, as my wife says, she has a whole closet full of stuff and nowhere to wear it. stuart: what happens to the malls? because these department stores, they are the anchor stores for a whole bunch of malls all across the country. if the department stores go out, then malls change their character significantly, don't they? >> i believe that malls need to

step back and reconsider where they were going. the old solution for this problem was to make the malls more of a destination. somewhere you go sort of for impulse shopping, to spend the day, to dine, to hang out with other people as a social experience. i don't think that's going to be happening for a long time now. so the malls will have to explore who they are going to be in the future. there are already way too many of them by most counts, there are probably double or triple the number of malls we need in the u.s. many will close anyway. now even some of the better malls are facing the fact their former strategy isn't what's going to work. so they will have to add office space, places where you live, residential space in those kind of mixed use environments so that there's more of a reason to be there than simply to browse or lounge or dine or see other people. stuart: wait a minute. shopping, look, i'm not much of a shopper. i don't shop. i know what i want to buy and i go to a store and i buy it. but there's a lot of people who like shopping, browsing,

choosing, wand eering around i think aimlessly figuring out what to buy but people enjoy it. what are they going to do? >> never underestimate the entrepreneurial spirit of american businesses and retailers. we are going to see an outpouring of innovation, using things like virtual reality, combination of your smartphone. it will be a different type of impulse shopping. like me, you are a man and men are known as being sort of destination shoppers, they get what they want. we don't spend as much money. we don't really matter. it's really the women who is the cfo of the family who spends the money. the question is what does she want right now. right now, she wants to buy necessities, she's become more of a destination shopper, surgical in what she wants. technology will have to provide some of the solution and other things like talking about how disney will make the customer a little more comfortable going into their parks, retailers will have to do the same thing. so it will come back, it will just take time before consumers are really comfortable being that far out there and that

social and frankly, from my way of thinking, the sooner we can get started, the better. stuart: i'm with you all the way. and safely. do it safely and have the public perceive that it's safe to go back and get out there again. >> absolutely. stuart: gerald storch, good man. thanks very much for joining us. see you again real soon. got it. look at ebay. their newly appointed ceo takes his post today and the company reports earnings on wednesday. the stock's up 2%. ebay back to $40 a share. next, do you remember democrats, how democrats on the left they breathlessly reported sexual assault allegations against brett kavanaugh? they are taking a very different approach when it comes to joe biden. we will explain that in a moment. johnson & johnson setting up a new manufacturing plant, bringing more jobs back to america, in america. the cfo, chief financial officer, will join me in just a moment. announcer: wash your hands...

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stuart: we have j & j stock on the screen, up a fraction, 29 cents. reportedly they are going to roll out up to 800 million virus vaccines by 2021 and they will be producing it right here in the united states. joe wolk is with us, j & j's chief financial officer. joe, 800 million viruses by next

year? can you test it, can you prove it's efficient, can you do it by next year? >> good morning, stuart. thanks for your interest in johnson & johnson, having me on here today. yeah, we are very confident in our ability to ramp up manufacturing. it's a platform that we have been working with for better than a decade now as we brought forth solutions for ebola, zika, hiv, so we've got a great deal of comfort in terms of the scaleability or the yields that we will be able to produce. we are working, we announced a partnership last week with an outfit in rockville, maryland for u.s.-based manufacturing. we are going to manufacture across the globe, with the goal of getting to between 600 and 800 million vaccines produced on an annual run rate in the early part of next year, with the aspiration for about a billion vaccines on an annual run rate by the end of next year. stuart: that's wonderful stuff and very ambitious but can you tell me that there's a high probability that the vaccines will actually work?

>> i think we are going right through, right now we are testing in animals, making sure there's a safety profile. again, we have a high degree of confidence in the safety profile given the other platforms i mentioned. we will be first in human testing in early september. hopefully we will have very positive clinical readouts and we will know by very early next year, if not the end of this year, in terms of the efficacy of the vaccine. stuart: i know you are building a new plant in the united states. is that plant going to be for the vaccines? >> we partnered with a company in rockville, maryland, emergent by so solutions. we thought the most expedient solution was to find partners that met our high standards in terms of the ability to produce this vaccine. we look for that partnership as well as other partnerships that we are very excited about. stuart: joe wolk, cfo of johnson & johnson, i want to thank you very much for coming on the show today. that's a brave and bold prediction. we will take it. joe, thanks for joining us, sir. we appreciate it. >> thank you, stuart. stuart: thanks. now then, as some states continue to ask for a bailout,

new york city's mayor bill deblasio wants more than $7 billion just for new york city. we are going to dig into those numbers for you. joe biden, accused of sexual assault. but the media barely wants to cover it. i'm going to give you a glaring example of a double standard. that's part of my take which is next. , it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect . yo. . focus on what matters to you with thinkorswim. ♪

stuart: coming up on 10:00 eastern time here on the east coast. the market has been open for 30

minutes. i see a lot of green, but not exactly a powerful rally. the dow is up about 150 points. that is .6%. a better gain for the s&p. nice solid gain for the nasdaq, up 1.25%. here's why. it is a big week for earnings. all the big names, especially big tech coming out this week. this week in fact we've got apple, microsoft and amazon. they are the three, the trillion dollar companies. they report this week. we're expecting strong results because the virus and the lockdown have a limited impact on big tech. however, i'm also showing you the price of oil which is all the way down to $12 per barrel as we speak, down four bucks, 25%. i should tell you we've to the andy lipow on the show later. oil will not drop below $10 a barrel. we're at 12 right now, falling to the tune of 25%. gas keeps coming down. national average now, $1.77.

how about that? wisconsin still the cheapest state in the nation. $1.19. that has not changed since last friday. all right, everybody, now this. oh, dear, glaring example after double standard in the media. over the weekend, stacey abrams and senator amy klobuchar appeared on political talk shows. they are both democrats and both in line for consideration as joe biden's vice-presidential candidate. he said he wants a woman as his running mail. however, joe biden has been accused of sexual assault. he has denied it categorically but supporting evidence for the claim has surfaced recently. the accuser, tara reade, has gone public with the details. but the networks anchors who interviewed abrams and klobuchar made no mention of the assault charges. how convenient.

during the kavanaugh hearings, democrat women piled on, trashing judge kavanaugh, sliming his reputation. now when joe biden faces a sexual assault allegation, two women who want to be his running mate are not asked about it. do they believe tara reade or don't they? it is important. and sure i, we are entitled to know how a woman veep handles sexual charges against democrats. after all we know exactly how they think about charges against republicans. they're not fit to serve. and surely we are entitled to a media that does its job with reasonably, a reasonably even hand. the failure to ask democrat vice-presidential hopefuls about a major issue facing joe biden, is professional malpractice. we're often told we must listen to the accusers. so let's do that here is what tara reade wrote after watching the sex oomph allegation go

unmentioned by the network anchors. it is politics, political agenda playing a role in objective reporting asking the questions. tara reade is exactly right on that. let's get to the heart this democrats in the media will do anything they can to get donald trump out of office. they're not going to let an alleged sexual assault get in the way. the second hour of "varney & company" is about to begin. ♪. all right, let's get straight to rachel campos-duffy, my friend, colleague, i've known her for years. she is back on the show today. you heard my editorial, chronic double standard in the media, as someone in the media, that really is just, professional malpractice. go ahead. chime in please. >> absolutely. it's not just about getting rid of donald trump because we see there is history of this on

liberal side whether it was clarence thomas, bill clinton, all of them had sexual hip pong hypocrisy. bill clinton. whether ever abortion is on the line, liberal media and liberal establishment, hollywood, feminists they're not really serious about eliminating or eradicating sexual harrassment. they're serious about eradicating conservatives, eradicating republicans. you saw this with a lissa milano who was pitchfork at the point of the pack with kavanaugh in his hearings. suddenly, she supports joe biden, a long time supporter of him, suddenly discovered due process for joe biden. what it does, undermines the "me too" movement. exposes hair hypocrisy. it gives credence to donald trump's whole issue of the fake news. stuart: didn't ask the questions and the questions were not asked

and therefore not answered. >> yeah. stuart: do you think they will be at some point? because joe biden is the definitive, he will be the presidential candidate for the democrats. they have to ask him at some point, haven't they? >> "the new york times" last week changed its reporting. in a article basically exonerated joe biden, they mentioned touch, feeling, went back and erased it, eliminated it, deleted it. put the article back up. it was too late. people caught it this is the kind of stuff they do over and over again. they get caught doing it. they get away with it. up to people fair-minded to expose it, people like you. i also don't think a lot of fair-minded women buy it. you saw that during brett kavanaugh. they brought blasey ford forward. her evidence was film system she was not a very good witness. women didn't buy it, those independent and fair-minded. stuart: i want to ask you about a subject you contacted me at least a week ago, rural

hospitals like in wisconsin, where you are, really having a hard time because they can't do elective surgery. you no you brought this to my attention a week ago. i didn't put it on the air soon enough. sorry about that. >> that's okay. stuart: stuart: rachel, are hospitals in wisconsin going under because they can't do elective surgery? >> yes. they are on the verge of financial collapse. already in my area 16 rural clinics shuttered, they closed down. they're four lowing doctors, nurseses more to dom wait fog surge of covid that hasn't come to wisconsin. i spoke to a doctor, stuart, recently who told me that compared to last year, they have had more deaths of people in their homes from medical issues unrelated to covid than last year. the rate has doubled. people are afraid to come into the hospital even though our rural hospitals are prepared and don't have the kind of cases you see in new york and other

places. it is absolutely destroying rural health care. a lot of us living here, waiting for the media. thank you for doing this, stuart. we're waiting for the media to tell the story what is happening to rural health care with all of the politics that are surrounding covid. stuart: outrageous. rachel campos-duffy, thank you very much for being on the show, pointing that out to us. thank you, rachel. back to the market. a lot of green i can see. dow up 120, s&p is up, nearly .8% nice gain for the nasdaq. look who is with us. ed i can't remember denny. this is the man who says we are going to go to new all-time highs. i think you said early next year, ed. all-time highs would be up above, 29,000? >> stuart, i left myself a little bit more to get there. at end of next year i think we can get to 3500. we got to my year-end target already.

i was looking for 2900 on the s&p 500 by the end of this year. to be hon nest. i was looking for 3500 at the beginning of the year. we got to 3300, and then the virus hit everything. i revised my number in early march this year to 2900. we're already almost there. i'm pushing out my optimistic out look to the end of next year. stuart: treasury secretary steve mnuchin saying the bounce-back for the economy starts, july, august, september. mr. cook from apple saying it is a v-shaped recovery for the economy. a lot of people are saying look it's a v. it is not just for the economy. it is for the market. are you saying we have this bounce back in the market because we are going back to work around gradually opening up again? >> well, definitely. the prospect that we're starting to open up is extremely important. the next issue will be whether we get a second wave or we're

smart enough to all wear masks. maybe everybody gets their temperature taken entering public places. there is a lot we can do to make sure we don't get a second wave. i think the market is optimistic this is not going to be something that will last for months or years but within a few weeks of suffering we will be able to come out of our cabins. we all have cabin fever and as we come out of our cabins there could be very well something that looks like a v but, stuart, a lot of this arithmetic. the second and third quarters, particularly second quarter, it will be awful there will be a solid rebound from that but i think the v talk misses a few items here. people are shocked, traumatized for what happened. they will maintain the social distance. they will not go as readily to restaurants and theaters and airlines. so i think it is going to be

initially arithmetically v-shaped third quarter. i think it will settle down to a u but i don't think it will be a l. stuart: you mentioned people, people want to get out of their cabins. that is the nicest looking cabin i ever seen right behind you, ed yardeni. >> we've been working virtually many years. so i have a very good home office. i think more and more people will start out putting some room in their office as a home office. which again gets to the notion of v versus u, because i think people will be working from home if they can, even once the coast is clear. stuart: i think you're right. ed yardeni. always a pleasure. thanks for joining us. >> yes, sir. stuart: take a look at facebook. they have announced messenger rooms, that is a service to keep with zoom and microsoft teams. market likes that.

adidas, footwear companying 40% decline in sales projecting. starbucks, venture capital firm sequoia teamed up to venture in china. susan. susan: starbucks is coinvesting with sequoia a gold brand investment capital firms in the world. number one ranked venture capitalist for the last 3:00 years running. he has made pretty astute investments. when they said could invest in the retail technologies and next generation food technologies there is a company that is worth $600 billion. it is the biggest food deliverer in china. something you may not have heard of. sequoia is very good making these type of investments. starbucks has number two market in the world, building a store every 15 hours this, is pretty smart.

stuart: luckin is being investigated a by the government of beijing. thank you very much. senator tom cotton, oklahoma guy, he has slammed china for the virus. watch this. >> we know that the chinese communist party was both criminally negligent and incompetent at first and then deliberately, deliberately malevolent the way they responded to this virus. stuart: used the word twice, deliberately malevolent. what will we do about that? we will discuss it, that is for sure. then we have kim jong-un is he dead or alive. the satellite pictures show the leader's personal chain near that nation's eastern coast. where is he? number of states reopening this week. i want to know how are they doing it? we've got details on that. got to be safe. got to convince people it's safe. we'll be back.

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>> how much money do you want. how much do you need? >> all the money lost, lost revenue. this is true for new york, cities and states around the country. we need $7.4 billion. that is how much we need to get back. like the federal government bailed out airline industry to the tune of $58 billion. bail out largest city in the country so we can restart to be able to be strong leaders in an economic revitalization in this country. stuart: that's the mayor of new york city. his name is bill de blasio. he wants $7.4 billion to replace money that was lost. house speaker, nancy pelosi, she says the impatience of governors will help states get a lot more money. lauren, come into this please. i'm okay with replacing money

that's lost in various states. what i'm not okay with is us, taxpayers fixing the problems that exists like government worker pensions, way before the virus came along. where are we with this? lauren: right, like in new york and illinois, where are we? there is a video call today between trump and nation's governors. yesterday house speaker nancy pelosi said look these governors are very impatient. he thinks they can implore the president to hand out more money to the states. states potentially facing bankruptcy. white house press secretary kayleigh mcenany just said that the president want as fourth relief package to be approved by congress. is that the package that includes money for the states to essentially bail them out, if you will? then you had economic advisor kevin hassett, he is putting some distance between mitch mcconnell, who said he doesn't want, he is okay with

states declaring bankruptcy. he doesn't want these blanket bailouts. kevin hassett says, he disagrees with that sentiment. so i think to your point, stuart, we have to look at the condition of the state. before coronavirus and if we are giving money it, can't be no strings attached sort of money. where is the money coming from? stuart: illinois wants $40 billion. susan: yeah. nine billion for pensions. stuart: nine billion for pensions. you simply can't do that. why am i on the hook for their preceding problems? come on. get out of here, in my opinion. we'll see how that goes. lauren: look at new york. look at all the taxpayers who have left. stuart: right, right. because of very, very high taxes. not because of the virus. high taxes. lauren, somebody will fix this and you and i won't do it for the next 30 seconds. that's a fact. however, a number of states are reopening this week, very much thinking about it. tell me who is doing what,

ashley? ashley: at least states in some form or fashion, stu but it is encouraging. we always say the door slightly opening in the states. let me highlight three if we can. we'll begin with colorado where the safer at home order is in place, instead of stay at home. residents not obligated to stayy at home although they are encouraged to. retail stores reopened for curbside delivery. real estate shows allowed. that is good for the real estate industry. elective surgeries allowed as they are in oklahoma by the way. let's look at mississippi, mississippi has a safer at home order in effect today. stay-at-home order has been relaxed. they're looking in the state of mississippi to start reopening small businesses, services like nail salons, barbershops, that kind of a thing. let's look at tennessee. good news there. restaurants can reopen at half capacity. it its better than nothing, right? on wednesday, retail stores can

open also at half capacity. these are encouraging signs, stu. a sign that perhaps slowly, but surely we can, you know, claw our way back into this economy. all of it boils down to, you talked about it a lot, is confidence, confidence that the consumer has to go out and to physically go in these stores and spend money. stuart: you can open up but nobody is going to come unless they're confident of a degree of safety. that is the ball of wax here. ashley, thanks. on that note. ashley: sure. stuart: on that note, we're going to texas. the owner of the rio mambo restaurants reopened some of his locations. the owner is brent johnson and he joins us now. brent, thanks for being on the show. tell me, what did you open, how many people came and how did you organize your restaurant for business? >> thanks for having me, stuart. we only opened in one community in texas.

our restaurants in for the word, weatherford, burleson, we haven't opened yet. we opened on friday. the mayor gave us proclamation on monday. that gave us time for needed preparations for it. i can just tell you, people are ready to get out. we had three hour waits from the time we opened until the time we closed. we only had 17 tables on the patio because we did place them all in, actually, from seat back to seat back, six feet. so the tables were closer to seven feet. so we had everything from our decals on the floor, monitoring six feet difference. our employees all-in. these masks, which, allowed them to be safely, safe themselves but safe for the customers as well. we realized our number one job was to keep our employees and our guests safe around win back

confidence of the dining public that we can do this. stuart: did it feel like a restaurant? obviously it wasn't like the good ol' days where everybody was piling in and socializing freely but how did it feel? did it meet your criteria what you want to do in the restaurant business? >> yes, sir, that and more. i will tell you again people were, people in this industry, we enjoy serving, we enjoy meeting people and, a lot of these regulars we hadn't seen in a while. and so we had people coming from, you know, places all over that, you know, was a lull surprising as far as an hour away but our core regulars were there. they were happy. again we had 17 tables. so i set tables out in the parking lot and sidewalks, again spaced. we had to really monitor that, because as you got groups of eight and five coming in.

they know each other, their natural tendency is to migrate in groups. that was a challenge. we learned how to manage that a whole lot better. but i tell you the feel was, it also almost like a holiday. it could have been the 4th of july t could have been cinco de mayo. people were there, they were excited, they were happy. we encouraged them to hour and 15 minute experience to allow others to come in, enjoy as well. people sat out there in the sun. it is beautiful weather in texas. sat out in the weather, enjoyed drinks and mingling and again it was awesome. our staff was he can sat tick. we're all really happy about it. stuart: brent, we love to come, feel that experience again. brent johnson, appreciate it. come back soon. glad to hear the about the business. >> thank you very much. stuart: thank you, brent. complete change of subject. an arthritis drug showing benefit for some of the sickest

virus patients. that's interesting. what is the drug? what is going on, ash? ashley: it is interesting. it is called kevsara. as you say it is a rheumatoid arthritis drug put together by regeneron and sanofi. it shows working for most critical patients. it was not as effective for those who did not have quite as severe symptoms. definitely for those who were critical. they began clinical trials on covid-19 patients last month. they plan to extend that to a larger clinical trial for sickest patients in july. drugs meant for other ailments, other diseases are showing promises for covid-19. malaria for instance. the key is to find the right therapy and the right vaccine and then we can just move on. stuart: just about every drug company in the world is working on this kind of stuff.

johnson & johnson this morning told us, 600, 800 million doses of the vaccine early next year. they're confident they can do that. they're all coming together on this thing. big deal. ashley, thank you. then there is this, hundreds of protesters gathered in las vegas to call for nevada to reopen. when is the time right to do that? i'm asking former nevada senator dean heller. he is on the show next hour. check the price of oil. you're still at $12 a barrel. how low can it go? we have an analyst who says it will not drop to $10. we'll let him make his case after this.

stuart: we picked up a little steam a little ground. the dow is up 218 points, that is the better part of 1%. boeing, however, they walked away from a deal embraer. that is boeing for you. diamond offshore drilling, full name of the company, declared chapter 11 bankruptcy because of the oil crisis. the national average for, not the national average, but the price of crude oil, bottom right-hand corner 12 bucks a

share. price of gas keeps coming down. you're down to $1.77, that is the national average. i like to quote wisconsin because they're cheapest state in the nation for gasoline, a buck 19. practically giving it away. two dozen oil tankers, off the coast of los angeles. susan, are they full of oil floating around? susan: this is scene just off long beach. two dozen of oil tankers off the l.a. coast. there is nowhere to put, tankers can't off load crude sitting in this near football field size tankers that you see floating there off the ocean. but you know, look at the oil price today. you know what is the problem? yes of course, the oil glut. we still have 9.6 million barrels coming off global markets this friday because of opec cuts. some say u.s. production needs to be cut 10 million barrels. otherwise you look at possibly another month of negative oil

prices. we saw that in may, unprecedented. some say june might follow. what happens july and august? one silver lining as i mentioned to you, looks like we lifted off the floors for china oil demand. stuart: that is interesting but i still question whether or not we can get, way, way down again for the price overall. susan: possible. stuart: i think it is. hold on a one second, susan. i have got andy lipow with me. he is an oil analyst. andy lipow does not think the price of oil will go below $10 a barrel. andy, look, we have oil being stored in tankers. we have no place to put it. we're still producing oil in america. what is to stop the price of oil sinking as it did a few weeks ago to a minus territory? why won't it drop below 10 bucks? >> there are a number of reasons starting with rapid decline of production here in the u.s. we're seeing north dakota production is off already 3%. we're seeing texas producers as

well as gulf of mexico producers reduce their supplies if you will. in addition the market is diverting all this oil that had previous live been going to cushing, now it is making its way to the texas gulf course where it will be stored on tankers. the fact that more and more tankers going into the storage category, that means there is less tankers to lift oil supply from places like nigeria, which believe it or not they have already cut production because they have nowhere to go and no customers. this low price we're seeing, will not only force u.s. producers but members of opec into production cuts they have rather not have done, greater quantities than 10 million barrels per day production cut they already mentioned. stuart: you're sticking to it, price of oil, west texas intermediate won't drop below $10 a barrel. andy lipow said it. you're on tape doing that, andy,

watch out. listen to what treasury secretary steve mnuchin had this to say about bailing out oil companies. roll that tape please. >> the president said no bailouts to any companies, whether that was airlines or oil companies. we will consider, again, loans to companies in a proper scenario, strategic importance but no bailouts. no shareholder bailouts. stuart: andy, we already had diamond shamrock declare bankruptcy. what is to stop others? >> more bankruptcies will actually be in the offing because at these low oil prices, you look at what oil is being paid for at the wellhead. it is at or near zero in many parts of the country. so we are going to continue to see consolidations in the oil patch. i don't think the government is going to be bailing out a lot of shareholders or the private equity that backed these production companies but after this consolidation happens, what we really need to see is oil

prices rise. if one looks out in the future, we're not seeing 35-dollar oil until well into 2022, which means of the drilling industry is really going to remain under pressure for a number of years. stuart: okay. andy lipow, thanks for joining us. we appreciate it. ladies and gentlemen, you may have seen on the left-hand side of the screen, tanker stocks, they were all up significantly. that is because they're all full of oil and charging a fortune to store it at sea. tanker companies are doing well. market, nice rebound. we're up 200 points on the dow industrials. we have latest read on the dallas area manufacturing situation. ashley, what is going on? ashley: it is not great. anytime you see a minus in front of the number. manufacturing activity, minus 73.1 in april. that is worse than the minus 70 in march. real quickly, the actual manufacturing output, minus 55 in april. that is down another 20 points

from march. we knew april would be tough. these are the kind of numbers as we take snapshots around the country that really shows you the damage being done to the u.s. economy. stuart: does that mean if it is a minus 73, that means it is down 73 points, percent, whatever it is last month or last year? ashley: yeah. last year. stuart: absolute shrinkage there in the dallas area. ashley: yeah. stuart: we knew it was going to be bad. we knew it. we think we'll get out on the other side. we'll see about that. ashley: right. stuart: an unusual step for transparency. the federal reserve will publish monthly reports with details who got what in these government lending programs for small business. danielle dimartino booth is with us. danielle, i think this is terrific. if i'm a small business operator, i didn't get my money yet, i can turn to the fed, say they got this, he got this, she got that, where's mine?

transparency works very much for the small business guy in this situation, doesn't it? >> it does. it is very cleansing the way you describe it. actually this is something that is required. in the aftermath of the financial crisis they reopened the federal reserve act originally passed in 1913. as part of section 13.3, it requires that the fed provide this transparency to the public in the event of another event such as what markets are experiencing right now. so the names of the company, the amounts that have been loaned, the interest rate they were loaned and expenses that were associated for each individual loan are going to be revealed to the public on monthly basis. i think this is certainly something we should expect of anything involving the public purse. stuart: by my count, if you look at the money flowing into the economy from the treasury, and the federal reserve and any other source it is about seven trillion dollars. surely that's enough to give a

real shot in the arm come late summer. what i'm talking about is, this "v" recovery. are you on board with a "v" recovery? >> you know, i don't see a "v" recovery happening mainly because we've had such tremendous delays getting money out to the small business community that does employ 44% of americans. lending tree has a new survey out with fresh data. 5% of small companies, that have applied for pp loans have received the funding. that means 95% are still waiting and as a result 58% of u.s. small businesses have pushed through with layoffs. so i think its going to take some sometime to get the funding to these companies who employed so many hard-working americans and that is going to take time. so i think a v is unrealistic. i think best-case scenario will be a u at this point. but again, it is gratifying to hear that the federal reserve is on board with trying to get some these moneys to small businesses

because there has been such lengthy delays for a lot of these great small businesses. stuart: we weren't get into the politics of the delay. do we blame nancy pelosi? i'm not going to do that. not going to do that, but the delay was bad, period. danielle, thanks for joining us. we appreciate it. thank you very much. >> thank you. stuart: tsa, security people at the airports they screened nearly 130,000 passengers yesterday. that is the most in a single day since april the 3rd. i will take that as a positive sign. okay? first is kim jong-un dead or alive? that is his train spotted on satellite images. where is though? that is his train but where is he? we'll have more on kim jong-un after this.

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learn how homeowners are strategically using a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be a part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. so you can... retire better. stuart: senator tom cotton had very harsh words for china. listen to this, roll tape. >> it was pretty well-documented by chinese scientist that is it

did not originate in the food market but wherever it originated, maria, we know that the chinese communist party was both criminally negligent and incompetent at first, and then deliberately, deliberately malevolent in the way they responded to this virus for their own people and the world. stuart: heard it right there from the senator. he used the word deliberately dries and then malevolent, whatever it is, against china. general jack keane joins us now. general, that is not exactly pa declaration of war but it is an extremely aggressive act if the senator is right about what china did, very aggressive indeed, right? >> well, i think the facts are pretty indisputable. i think the chinese communist party sort of owns this covid-19. why is that? they kept us in the dark, still do about the origin of it. they denied for a month 1/2 it had human-to-human transfer. they actually got the w.h.o. to say the same thing to the entire

world in mid-january. which got the equivalence of the cdcs around the world to sort of east back, saying okay, we don't have a pandemic on our hands. most significantly when they shut wuhan down and you hebei province, they allowed flights out all over the world inconcluding from wuhan city. they consciously let is spread into a pandemic. any investigation would reveal that and obviously this is a huge strategic opportunity for the world as far as i'm concerned here, because the western democracies, united states and the countries in the region, stuart, who have watched this malign and aggressive behavior for years, multiple administrations in the united states, have seen them, as a competitor, but somebody we really need to cooperate with.

now we have to see them for what they really are, is a predator. they must be contained. we can do that through partnerships with others and call them out for who they really are. stuart: we are really now then in a cold war situation with china, that accurate? >> i don't think we're actually in the same kind of existential threat that we had with the soviet union but in terms of moving from competenter to and cooperate with, certainly will always have a degree of cooperation with china like we did with the soviet union. but what has fundamentally changed, in my view, is willingness to confront them and previous administrations did not do that the willingness to contain them. we never had that as a policy i think that is where we're moving and i think we'll be able to get a number of other countries in the world to join us in this, to contain aggressive and maligned behavior? stuart: what do you make of the

kim jong-un situation? we run video of the train where he likes to go to the sea to have vacation time. there is all sorts of speculation that he is dead or seriously ill. let's follow that for a second. i suppose he is no longer in power, i know that is serious speculation but suppose he is no longer in pow power, what are the implications of that? >> i think potentially serious implications because the kim dynasty always passed very smoothly from one relative to another as we've seen for over 70 years. if this takes place now because there has been no, announced successor who has been cultivated for years like kim jong-un was by his father, that leads to some kind of possibly a political power play here between his sister, who is the obvious favorite candidate, and most publicized candidate and also his uncle, chin pong

ill, been overseas for years, obviously considerably over, they could contest for it or he could work with her as she is in power. also the unstated one is if there is not a kim successor, there is the potential for violence. there is a vice marshall by the name of choyong ray. if he wanted to contest for power, he could pull some elites and possibly military in, that would be a dangerous situation for the region own and the united states because we have nuclear weapons there. we have ballistic missiles there. stuart: what a situation. i'm glad i'm not in the military or the diplomatic corps to deal with something like that. because that is just a potential extraordinary situation. general, thanks for joining us as always. >> good talking to you, stuart. stuart: you too, sir. check on the left-hand side of

your screen, the dow has gone past the 24,000 level. six weeks ago, 18,000. now we're at 24. check apple. it has delayed mass production much its 2020 flagship iphone by one month. that is according to "the wall street journal" the stock is down a buck 74. that is .6%. check ford, yeah, they are calling back skeleton crews to begin the preparing of opening of some factories. that helped the stock. it is up 3 1/2%, but still $5 a share. look at tesla a car company doing incredibly well, up 8.8%. they report their profits on wednesday. is that why this stock is up, susan? can you explain? susan: we're expecting 75,000 cars in second quarter. looking for 88,000 cars in the q1. you expect the stock will continue to rocket. according to reports workers are

coming back to work at the free month fremont factory in california. ken griffith of citadel, revealed a 4% passive stake in tesla on friday. when you have ken griffith backing you you have get a pop. tesla sitting close to $135 billion in market cap. that is three times general motors and ford combined. stuart: i fiber-optic that incredible. three times the combined of general motors and ford. who would have thought that. thank you, susan. ratings are in for the nfl virtual draft. they did incredibly well. we're obviously looking for some type of sporting engagement. we'll look at steps all the leagues are taking for some kind of a comeback. we'll be back backpack too. technologies advisor.

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stuart: presidential tweet just coming at us. i will read it for you. why should the people and taxes payers of america be bailing out poorly-run states like illinois and cities? in all cases democrat run and managed, when most of the other states are not looking for bail out help? i am open to discussing anything but just asking.

president, there you have it. major league sports trying to get back into business, making moves towards reopening. grady trimble with us. you tell me, who restarts and when? reporter: the nba is looking to open training facilities get players back on courts by friday but there are major caveats. this is according to espn. they want to reopening training facilities to states loosening stay-at-home orders. they would be for individual workouts. group activities would be prohibited and they would be voluntary. no time when games start again. the nhl is forming a return to play committee with the league and players association. they're bouncing around several ideas right now but no clear sign as when that league will start up again as well. ii want to end with english premier soccer there, is report in the "times," that the british government is urging sports leagues there to get things going again by mid-june.

i know you watch epl soccer, june. the government feels it would lift spirits of people there and lift spirits of people here too if some our pro sports leagues could get going. stuart: i think there is demand for some kind of sports. there is frenzied demand. reporter: look at ratings for the nfl draft over the weekend. 455 million people tune in. that is not an gal sporting event. stuart: terrific. thank you very much, grady. hundred of protesters gathered in vegas calling for the city to reopen. what will it take to get casinos open? i will ask former nevada senator dean heller about it. new data is about getting out and about. love it. we'll be back. like helping you understand what the recently passed economic package can mean for you.

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- with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u.s. money reserve is one of the most dependable gold distributors in america. stuart: it is exactly 11:00 here on the east coast and the markets are doing very well, thank you. look at that, the dow has just crossed back above the 24,000 level. we are up exactly 1% for the dow industrials. big tech doing very well today. they are reporting later this week. apple is down, there's a delay on the production of their flagship 2020 iphone. but amazon is doing well, microsoft is doing well, they are all, you know, pretty much doing well. that's because microsoft, google and who else we got, apple report their earnings this week. they are likely to be pretty strong and so we've got technology leading the nasdaq

composite to a very solid gain. we've got oil, i'm afraid still at $12 a barrel, but yeah, big week for earnings. all those big name companies, they come out this week. now, the price of oil, down today at $12 a barrel and therefore, the price of gas keeps falling. there's good news in this, the silver lining. $1.77 is your quote for national average for a gallon of regular. a year ago, exactly one year ago, it was $2.88. how about that. all right, everyone. now this. fascinating data released by apple over the weekend through phone tracking. apple tells us we are indeed getting out and about. we are beginning to move around again. this week, you can expect that trend to keep going as the great opening up begins in earnest. stay at home rules in many states expire thursday, april 30th. for millions of people, the relaxation begins friday, may 1st, and why not.

the economy cannot stay shut forever. you can't ask parents with young children to stay cooped up forever, especially in spring weather, and you can't dramatically limit personal freedom forever. you have to open up sometime. however, clearly it has to be done safely. the risk of a second wave is real. just look at singapore. they loosened up and then had to lock everyone down again when cases spiked. britain's prime minister boris johnson, he returned to work today after his bout with the virus. he says he understands the urge to get moving again, but he said contain your enthusiasm. he worries about a second wave. and there's no point in opening up if you can't convince your customers that it's safe. a reopened restaurant serves no purpose if there are no customers. this means any opening up should be accompanied by clearly visible safety precautions. you're running a business, go out of your way to reassure everybody that you are going the

extra yard to keep those customers coming. and you are doing whatever you can to reassure your employees as well. it also means we must act responsibly. obey the safety rules. this week restrictions are coming down in state after state. the treasury secretary says the economy will bounce back by the summer. larry kudlow told us on this program that we are on the co comeback trail later this year. the stock market has rebounded. we are looking to the other side. we want to see a v-shaped recovery for the market and for the economy. and we are moving in that direction. there is pent-up desire to get out of the spring weather, open up that business, make some money, bring in a paycheck but as boris johnson says, avoid a second wave. contain your impatience. the third hour of "varney & company" is about to begin.

stuart: look who is here. lawrence jones, my friend and colleague and brother. he is a fox news political analyst and joins us now. big smile on his face. you are a texan. come friday, we expect to hear from governor abbott about opening up maybe movie theaters, maybe restaurants, as a texan if all safety precautions are taken, you approve? >> of course i do. i mean, i always took this seriously from the very beginning. that being said, i have some problems with each state, you know, taking the same precautions because it didn't affect each state the same way. i mean, texas was about 700 cases versus new york at 22,000 cases, so all of us taking the same precautions was a little bit dramatic for me. that being said, if costco, walmart, target, home depot and the liquor stores can be open, i

think the other stores should be able to start reopening as well. the fact that the small businesses took this crushing the way they did while big business was able to be labeled as essential, i think is problematic and so i think right now, if we don't open up this week, there's going to be long-term consequences for a place like texas which was i think, you can correct me, number seven economy in the world. that's big. stuart: i think it's twelfth in the world, actually. let's agree that it's huge. now, what about the idea that you are opening up now, the beaches did very well over the weekend, florida and california. some restaurants are opening. we had a gentleman on the show earlier, opened his restaurant in texas on the patio, three-hour wait. do you think we are going to see the flood gates open and people just flooding back into society? is it going to be like that? >> well, there are going to be

some people that do that and then there are going to be some people that feel like it's high risk and they want to remain at home. look, government's job is not to protect people but to protect their liberty, right? protect their rights. at the end of the day it's going to be individuals' choices. i would suggest if you think you are high risk, my mother is high risk, she has lupus and i haven't been able to go back to texas to see her because i could be asymptomatic being right here in new york city, so there are certain restrictions that us as individuals have to take ourselves. we don't need government coming in and telling us what to do. at the end of the day, people are going to decide if they want to go to restaurants, go out there and have a drink or whatever, but if you feel like you are at risk, if you feel like you have come out with a fever, it is your job to stay at home and not harm others in the process. stuart: how did you handle it? i know you have been cooped up in an apartment. i don't know for how long. i'm sure it's weeks on end. i don't see a smile on your face. how did you handle it?

>> you know, it was difficult, stuart, but not difficult like many other americans that aren't getting money. they are not getting their jobs, getting paid by their jobs, they're not getting to see their family members, not being able to pay their bills. i still have income coming in. of course, i would prefer to be on the road doing my correspondent work and i haven't been able to interact with people. i'm an extrovert so that's not the best feeling. te at the end of the day i'm in a better position than most americans. of course i would prefer to be out of my manhattan apartment but i have been extremely blessed, this network has supported us all, making sure we are nice and safe. stuart: just think of those poor people in new york city, stuck in an apartment with maybe a couple young children there and you are cooped up 24/7 for weeks on end. i don't want to be the person who says no, the sun is shining but you can't go to the park, no, the sun is shining but you can't go to that playground. i don't want to be that guy. >> i don't want to be that guy

and i also don't want to be the guy that's arresting those people for going to the park as well. stuart, at the end of the day, we are going to have to -- i keep telling you this on this program -- we will have to have a real conversation about what's transpired during this period of time. the fact that we are releasing criminals, violent criminals sometimes, then we want to put the mother in jail for being out on the street, on the park with the kid? that makes absolutely no sense. in america, we have liberty and the fact that they are taking liberty away, a lot of americans are going to be hesitant when another epidemic potentially happens again, do we have the same conversation during 9/11 and they said this will be temporary. what do we see? the same warrantless searches as happened in america, we see what the tsa does. there will be real conversation when this is said and done and i don't think a lot of americans will be happy the way our government has handled this. it has shown us once again they take advantage of power. think about it, stuart.

they can take all this sand and put it in skate parks to fill up the holes but if you want them to fill up a pothole in your town, they can't do that? government works when they want to work. stuart: that's very good, lawrence. very good. a fine contribution yet again. we always appreciate you being here. >> appreciate you, brother. stuart: see you soon. now, the main topic of conversation on wall street this week is going to be the earnings report. i hear lawrence jones laughing there. is he laughing at me? i don't know. a big conversation this week is big name tech companies which will report their financial condition. susan, give me more on that. susan: yeah. we have 40% of the dow reporting, one-third of the s&p and all three of the trillion dollar tech companies. we are back above 24,000 for the dow and the s&p is just 17% away from record highs once again. the reason? a lot of this money has gone into big tech, $251 billion has rotated into these names just in the past week and that is a

record number, by the way. so yes, a lot of these big names will be reporting this week and so far, from the 25% of the companies that reported for the s&p, they have actually come out ahead in profits, 65% have beaten. also we do have earnings down 20% from last year pretty much anticipated but sales are doing better than expected as well. but i say with a lot of these big tech names i think there's a lot of distortion in the first quarter. it's pretty much baked in, pretty tough in the first three months of this year. will we get any guidance forward? so far, apple probably won't give us any. that gives us an indication as to the other big tech names as well. that hasn't stopped, by the way, the explosive recovery in these stock prices. stuart: did you say $256 billion, a quarter of a trillion, flowed into big tech -- susan: one week. stuart: in one week? susan: yes. that's right. that's a record amount. so people are just looking forward and ahead to that so-called v-shaped recovery.

stuart: v, u, l, w, who knows these things. thank you very much. let's go. more bad news for the housing market. what is it this time, lauren? lauren: the nation's split. gallup finds 50% of homeowners say that now is a good time to buy a home which means 50% say now is a bad time. either way, this is the lowest number that gallup has received since they started asking this question. why are we thinking it's a bad time to buy a home? you are likely saving whatever money you have instead of trying to buy a new home. many lenders and banks have increased requirements, for instance, higher credit score, 700 plus in some cases, 20% downpayment. those are the issues why the housing market is, in addition to not being able to show your home in person, the housing market is getting crushed right now. stuart: i think what is it, three million people are not paying their monthly dues for their mortgage, three million, i think it is. very big number. lauren: three million have asked

for forbearance. stuart: you got it right. thank you. now, millions of people, we understand, are also just not paying their credit card payments at the end of the month. ashley, come into this, please. what happens to them if they don't pay? ashley: well, you want a roof over your head and you want to be able to eat, one of the first things to go is the credit card payment. the banks are bracing for it. they have put aside billions. but there again, what do you do? well, some credit card companies are allowing what they are calling a pause in payments. others are not charging late fees or whathave you. but there's no doubt that as the year goes on, the number of delinquencies and charge-offs are expected to absolutely soar. many americans were already overstretched before the pandemic. look at those credit card loans, up to 2.5%. all loans i think you are going to be seeing headed in the wrong direction as we try and get this economy going again. but banks, we are told, stu, are already tightening the amount of

credit available because of the fear of the charge-offs and delinquencies on their credit cards. stuart: entirely understandable. you got it. all right. there is one small item of what could be construed as good news. lauren, tell us how many more people went to the airport and flew somewhere yesterday. lauren: tsa agents checked 128,875 people at airports yesterday. that is the most since april 3rd but the number on that date in 2019, two and a half million. so from two and a half million being screened to 129,000, that's a sign of the times but the number's going up. that's also another sign of the times, that things could be getting better. stuart: the trend is your friend in this case. that's a fact. thank you. lauren: the trend is your friend. stuart: i like that one. okay. joe biden, according to a new

stimulus package, much bigger than $2 trillion. we will explain his plan and why he's calling big banks greedy as hell. that's his expression. bernie sanders out of the 2020 race but he still wants to be on the ballot in one state. former sanders campaign staffer says it's time for the senator to stop playing games. she's on the show later this hour. hundreds protest to get the party restarted in vegas. what will it take casinos to get them back and running? we will ask former senator dean heller. he's next. which is why we're ready to listen. and ready to help you find opportunity. so. let's talk. edward jones. it's time for investing to feel individual. there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network.

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want to see the state open up. >> we are like first responders. cops risk their lives running toward bullets. firemen risk their lives running toward smoke. small business men and women every day are willing to risk

their lives and sacrifice to keep the economy open. >> please let us get back to work. stuart: passionate protesters in vegas want to reopen for business and they want to do it fast. former nevada senator dean heller is with us. i'm sure a lot of people do want to get the casinos open again but can you explain to me how i can play craps around the craps table, keep a social distance and gamble at the same time? how am i going to do that? >> good luck with doing that right now. maybe you can do it online but you are certainly not going to be able to do it anywhere in a brick and mortar piece of property at this point. things have to change if you want las vegas to move forward. we need a plan and right now we don't have a plan. half of america is going to be open here at the end of this week but nevada is an exception to that. we need to get a plan going. i'm sure the governor is working on it. she went back and forth with the mayor of las vegas a little last week. those two need to sit down, formulate a plan, get those 40

million visitors back to nevada. stuart: it's just hard to see how you can open a casino using social distancing. that's the problem, isn't it? >> oh, yes. stuart: if social distancing is involved, how do you get 40 million visitors on to the strip in a year? how do you do that? >> right. well, you know, stop and think for a moment how bad it was during the great recession and that was without a pandemic. i realize the virus hit new york very, very hard but i will tell you right now this economic downturn is going to hurt nevada and las vegas more than any other state in the country because obviously, we need people to have money in their pockets and right now, being out of work, it makes it very difficult. but once we have solved that particular problem, and i think our leaders will get us to that point, how can we convince people that las vegas is now the place to sit down and enjoy yourself and spend your leisure time and your expendable income. that's going to be a very, very difficult question.

the good news is this. we are the gold standard for gaming in the country. we have the best and the brightest and they will figure this out. it may take a little bit of time. it will be -- i think it will be a very very difficult process to get there. but i have no doubt, no doubt at the end of the day that we will get there and we have the right people in the right place in order to have that happen. stuart: can you -- i know you want to get people back rapidly and safely. i understand that. everybody does, i think. there's no exceptions to that rule. but realistically, where do you think vegas might, the strip, might reopen, in whatever form, whatever capacity, when do you think it might happen? >> well, obviously we are all hoping sooner than later. governor knows a lot more than i think most of us in that process and how to get it done. i'm sure he's talking to the properties, trying to figure out what the best way to approach this. again, we have the best and the brightest. we will solve this particular problem but i think it's going

to take obviously a little bit more time. we don't have a plan out there. that's the biggest problem we have in nevada right now. we need a plan in how to open this up and how to get this moving. the dialogue we are having right now and you played a little bit of that, i don't care what the unemployment is nationally. it's 10% higher right now in nevada. whatever the national number is, i don't know what that is, it's 10% higher right now here in the state of nevada. that's how difficult, how difficult it is moving forward. stuart: but dean, haven't the casinos come forward with some kind of plan, we can open if you do it like this, this and this? have they got absolutely no plan whatsoever? surely there's something on the table. >> you would think. you would think. by the way, stuart, i'm not privy to all the conversations that are going on, i'm out of the loop a little bit and i kind of like it that way. needless to say, i'm sure the conversations are occurring right now between our governor and the properties, the mayor of las vegas, to try to figure out

how to get this back together. i would anticipate, i would anticipate within the next week we are going to hear a lot more about this and that's when you want me back on your show. stuart: you want to pre-book yourself? that's fine with us. the only guest who has ever pre-booked himself. i like that. that's pretty good. we will see you again soon. i want to hear that plan. i want to hear it from you. thank you very much, dean heller. appreciate it. norwegian cruise lines, i will put up that stock for you, they say half of the customers who have had trips canceled requested refunds. half of the cancellations, they want their money back. the stock is up 7.8%. go figure. boeing, backing out of a $4.2 billion venture with a brazilian plane maker. boeing says there's a lot of issues they just couldn't resolve. the company blames boeing's max jet problem and the virus manufacturing problem as well. boeing is down again just 57 cents but look at that level.

it's at $128. now, news on microsoft. susan, what is it? susan: teams has signed a fiv five-year deal to work with coca-cola. teams is microsoft's answer to slack which is this corporate chat software. there's been a bit of criticism over the weekend about microsoft and its focus on producing and competing with slack with its teams software because don't forget, microsoft could have been the leader in video conferences. they paid $8.5 billion for skype back in 2011 but instead, you have seen zoom lead the pack, 300 million daily active users now, up from the 10 million at the end of last year. so companies like microsoft feel that they have missed out on this and a lot of people are gunning for zoom and going after their lunch. we have facebook announcing messenger rooms being launched last week, right, and this is up to 50 people chat on facebook messenger and a lot of people feel that they should have been the leader. there were a lot of products up

there before zoom, right, webex from cisco, you also had i believe google meets as well. for some reason, zoom seems to be easy to use and i guess video conference of choice. stuart: microsoft had to come up with their own version of zoom and because the virus hit us so quickly, so hard, i guess it took awhile to get this teams thing going. but it is now going, i believe. as you say -- susan: well, no, it has skype in 2011 so skype is a video conference technology and service. teams is more for slack. the focus was too much on slack and teams instead of zoom and video conferencing. stuart: i think i follow you, susan. but with great difficulty. there you go. don't worry. now then, here's another one which i'm a little vague about. amazon has got a new plan to verify third party sellers. how are they making sure that the stuff you order is legit? we are going to tell you.

as a new wave of states begins reopening this week, we have the numbers that show companies are ready to get back to business. that's important stuff. we got the numbers for you. back in a moment.

i think as we begin to

reopen the economy in may and june, you're going to see the economy really bounce back in july, august, september, and we are putting in an unprecedented amount of fiscal relief no tinte economy. you are seeing trillions of dollars that's making its way into the economy and i think this is going to have a significant impact. stuart: the treasury secretary is saying the economy bounces back july, august and september, maybe that's helping the market, looks like it, because the dow at the moment is up 278 points. you are at 24,050. i think this bounce-back idea is really helping this market, especially if you get the v as opposed to an l or u. get the argument? okay. stocks are up this morning. individually, look at these. kroger, they now require workers to wear face masks in all their stores. the stock is up, everybody going, all hands on deck, let's assure people of safety when they come in our store. same story with walmart. they are creating one-way

aisles, have you seen this in other stores? i have. one-way aisles to stop the virus from spreading between shoppers. walmart is down a fraction, 10 cents. they too are on the safety band wagon. fox news contributor john layfield is with us. he's a market watcher. john, we've got the dow at 24,000, up from the low of 18,000. where does it go from here? think we could have another leg up in the immediate future? >> i don't think we do, stuart. i think we will tread water here for awhile. i think the market has gotten a little ahead of itself based on the economy reopening because when the economy reopens, we are not going to go back to full capacity right away. it's wonderful that it's reopening. it's wonderful that we are getting back to somewhat of a normal life. but you are only going to see restaurants at 50%. you are still not going to see people taking cruises, taking airline trips that they don't need to take, until we get a vaccine. i think the market right here, i think if you're looking for stocks to buy, wait, i think you will get a chance to get into some of the stocks at a cheaper

price. stuart: you tell us why you are buying facebook. i know you are. >> yeah. i love facebook. i love the online story. i love walmart, amazon. i have owned both those stocks. facebook to me has been trying to get into india for some time. prime minister modi has done everything he can to keep foreign companies out, companies like amazon, like walmart, who bought into flip card. now when you have money, you get to buy things you wouldn't normally get to buy, and the richest asian man, since the stock has gone up, owns reliant industries and geo. facebook has stepped in with $5.7 billion he needed because he was not going to get the money from saudi arabia because oil prices have collapsed. they were going to buy about 10%, about $11 billion worth of his reliant industries. facebook buys in, gets on the right side of mr. modi, the prime minister, and because of that, there are 400 million whatsapp users able to use a

payment system which has taken over most of the world from africa to most of asia. i think facebook here has done a really good end-around to get into the indian market. stuart: your reasoning is sound and the stock is up, $191 on facebook as we speak. john layfield, thank you very much, sir. always appreciate it. thank you. >> thanks, stuart. stuart: now this. joe biden wants a new stimulus package. i believe, ashley, it is a big new huge stimulus package, correct? ashley: well, yes. to quote the former vice president, a hell of a lot bigger than the last one, says joe biden. he also wants to include help for cities and states. as for the major banks and corporations, he says corporate america is quote, greedy as hell and says this is the second time we bailed their, his quote, asses out, they are only alive because of the american taxpayer. he also criticizes the president for what he calls a lack of coordination, no accountability

as the money is being passed out. that is joe biden getting feisty in his basement in delaware. stuart: he's moved to his garage, by the way. ashley: oh, has he. stuart: so i'm told. he sounds a lot like bernie sanders, doesn't he? ashley: he certainly does, right out of bernie's playbook. stuart: and elizabeth warren, beating up on the banks again. there you go. okay. see how this works out. thank you, ashley. a wave of states reopening, or partially reopening this week. steelhouse ceo mark douglas is with us. mark, your business, steelhouse, that tracks what people buy. it tracks businesses from an i.t. standpoint. you tell us, when businesses are going back to work, what are people buying? >> they are buying big items right now. we talked about this a few weeks ago. they are buying furniture, they are buying apparel has really picked up, 68% in the last two weeks. so there's all these purchases occurring. you know what's really

interesting, though? increasingly, the products aren't shipping out. so -- which is good, it's creating this huge backlog of orders and i think that backlog could be the jumper cables the u.s. economy needs, as companies re-hire factory workers to build that backlog. it's becoming a huge number. stuart: now, when people gradually go back to work, and it will be gradual, okay, let's talk about that for a minute. do you think people are prepared to spend money? do they want to go out? do they want to go to restaurants and movies and all the rest of it? is there an urge to break out of the cabin fever and go back some place? is it strong? >> yeah, i mean, we are seeing it in online sales. twha that's what we track as part of our business. i live in los angeles. it was almost 90 degrees yesterday. the roads were actually reasonably crowded. the beaches in orange county were full. we are seeing -- i go to a restaurant that the other night had a line of cars waiting for

the restaurant. the restaurant sells very expensive meals, they have now discounted and people are out buying. i think people do want to come o out. people with money are purchasing and that backlog of orders that's combreeth ebeing createdy to this recovery. stuart: is there real enthusiasm for going back nointo a restaurt or bar, go to see a movie? a real enthusiasm for that? >> well, you know, obviously people can't do that right now. the businesses are adapting, the restaurant i was mentioning is literally the most expensive in l.a., i don't used to be $500 a now it's $59 and you make a reservation to pick up your takeout. i think when things come back, people will go -- i mean, obviously at that price level people are not going to go but you are seeing people come back out. i actually saw a traffic jam in los angeles this weekend for the first time in six weeks. stuart: a traffic jam in los angeles. who would have thought.

>> i was so happy. so happy. stuart: traffic jam in l.a. is a positive. i can't believe it but it's true. mark douglas, thanks very much indeed. okay. now then, this is interesting. italy has picked an american company to supply their virus tests. ashley, well, the company is on the screen. okay. ashley: you stole my thunder. abbott labs, there's a big surprise, managed to win the contract, beat out a lot of other companies. they are going to provide 150,000 blood testing kits for the coronavirus. a lot of the major corporations and smaller businesses in italy are setting up their own testing facility as more workers very slowly come back to the workplace. in fact, this is the same story for countries and corporations around the world. they are looking to these testing kits so they can be absolutely safe that their workers have been tested, it protects them and protects

customers for those that are facing the public. but a nice win for abbott labs. stuart: thank you very much, ashley. you have all heard about the problems with boeing. well, the other -- the world's other major plane producer is airbus. they say they are bleeding cash. workers there are now bracing for job cuts, as the chief executive says at airbus, survival is at stake. that stock is down 5%, all the way back to $13 a share. joe biden gets a big endorsement from house speaker nancy pelosi. question, are democrats turning a blind eye to his -- the allegations of sexual assault against joe biden? we will discuss that next.

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he knows how to get the job done and as we face coronavirus, joe has been a voice of reason and resilience, with a clear path to lead us out of this

crisis. stuart: speaker pelosi officially putting her support behind 2020 hopeful joe biden. let's get reaction to that from political analyst, former bernie sanders staffer, leslie figaro. welcome back to the show. good to see you again. >> thank you. great to be here. stuart: i'm listening closely to what joe biden is saying and what he wants. frankly, he sounds a lot like berniened sanders. you with me on this? >> of course he is. he has to pretend to be able to move left because after all, bernie sanders said he dropped out of the race to help biden move more left, when technically he could have stayed in the race. that would have been the best way to get the democrats to move left. so obviously he's going to throw out a couple of pandering comments but in the end, i really do believe joe biden is a moderate and more than likely will flip back once he's really locked in and sealed all the bernie supporters. stuart: bernie wants the new york primary to go ahead even though he has withdrawn from the

race and supports joe biden. that surely is a move to accumulate delegates in whatever convention format they have, and therefore, push joe biden as far and far and far to the left as he possibly can. there's no reason to assume that joe biden will retreat from that position by october. i mean, how can he? >> he doesn't have to. bernie has already closed the deal. the deal is sealed. when bernie sanders went in and had that back room secret meeting with joe biden before he decided to turn over his millions and millions of followers, they already decided how they were going to move forward with this. bernie sanders already knows what joe biden will agree to or will not agree to. otherwise, he would not have given him pretty much the keys to the movement. i really get sick and tired of bernie supporters who are pretending as if bernie sanders is some infant toddler in the corner in the fetal position

completely unaware of what's going on. this is political theater and more shenanigans. they have been friends for a long time. bernie sanders said that repeatedly. what they are doing now to start this task force and pretend as if they are finding some type of middle ground is no more than a game. bernie sanders would not have walked away from that movement if he did not already have his deal. what that deal is, we don't know. that is why people are becoming more and more frustrated, not only with the democrat party but politics as a whole. we continue to see that games are being played and progressives, they let down progressive voters, plain and simple. stuart: i was watching the weekend talk show, political talk shows, and there were two women, senator amy klobuchar and the lady from georgia, stacy abrams, they were both on these political talk shows, they are both in line to be the woman who is the vice presidential candidate of joe biden, but the

networks did not ask these two women about the sexual assault allegation made against joe biden. it was completely left out. where does that come from? how can you leave out any question about sexual assault? when it came to judge cough nka, they were all over him for the accusations against him. surely this is hypocrisy. >> of course. even if the media didn't ask, no one is stopping them from speaking up. this is obviously an avoidance to speak up on the issue. what i say, varney, is this. if biden supporters have no problem with not believing tara reade, fine. who i hold accountable is the progressive leaders, senator warren and senator sanders, that said they were going against the establishment, that they were doing something different. do you remember when senator warren was yelling and ranting and raving against mike bloomberg for comments that he made about inappropriate comments to a woman? do we remember that senator sanders said the only reason why

he signed the '94 crime bill is because violence against women? tara is a woman alleging violence. the women's march had millions of women wear cat hats all over this country because of trump's comments of grab them by the "p." here biden is accused of actually grabbing, yet nothing is being said. this to me is a con game to say this was never about grabbing by the "p" comments, it was about grabbing more power. democrats have been exposed just as well as you see the hypocrisy on the republican side once again, the americans are left holding the bag and trying to figure out who is a real leader and who is not. that is what is disappointing. stuart: i don't think you and i agree on politics and policy, but i think we can agree on this. there should not be a double standard when it comes to sexual assault allegations. one rule for republicans, one rule for democrats. can't have that. no double standard. are we agreed? >> we agree. stuart: good lord. that was really something.

this is a break through. if you are not careful, you'll be back on this program. thank you very much indeed. all right. we have an update on new york's governor, andrew cuomo. i believe he's got a press conference. what's he saying, ashley? ashley: i think the headline so far is that he's going to extend the stay-at-home order beyond may 15th for much of the state. he doesn't say where, but you can imagine new york city may be in there. he doesn't say for how long he's dpo going to extend it. he says the only way he can see reopening parts of new york state after the 15th is if they have certain things in place like testing and tracing and the health care capacity but that's a big headline. by the way, he also said they tested 7500 people within new york state for antibodies of covid-19 and close to 15% tested positive. so if you look at the population of new york state around 20 million, that's about three

million people testing positive for antibodies. interesting. stuart: it sure is. if that many people tested positive, that means that the fatality rate comes way, way down. which should relieve some of the anxiety about going out again. he's extended the rules. all right, ashley. we hear you. thank you very much. tyson foods warning the food supply chain is in trouble. meat processing plants are forced to close because of the virus. that endangers the meat supply line. we've got the story for you. a new twist in the "tiger king" saga has fans outraged. one of the key characters on the netflix series has been strangled and thrown out of -- what? i don't know what this is all about. we will find out after this. (music) 49...50!

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pork industry has been hit hard in particular with major plants shut down in minnesota, in south dakota, iowa and indiana. a real warning put out about the meat supply in this country. stuart: that's entirely understandable, with all those plants shut down. got that, ashley. thank you. let's go to amazon. they've got a new way to verify third party sellers. the stock's down. the story, please, susan. susan: video conference screening for some of these merchants that want to sell on the website because they want to prevent counterfeits from being sold. so far, around 1,000 merchant applicants based in china, the u.s., uk, japan, have been verified through this process and the reason why they're doing this is because they want to counter counterfeits and that's one reason which has discouraged large brand names like apple and nike from selling on the website and there have been cases where china based sellers have registered multiple accounts using private internet networks or fake utility bills and they are concerned that 40% of the top 10,000 merchants listed in the european -- on the european

side are from china, according to market research. so let's make sure that these goods are not fake. stuart: okay. i understand that. got that. susan, thank you very much indeed. let's go to lauren. here's the story on a new twist in the "tiger king" story. what is it? lauren: okay. as you know, joe exotic convicted for hiring someone to murder his rival, carol baskin. now there are questions about what happened to her missing husband, don lewis. here's nancy grace. >> what do you believe happened to jack don lewis and why do you believe that? >> what i had heard was that he was strangled from the back seat of an airplane over the gulf at 50 feet and dropped out over the gulf. lauren: did you hear that? his lawyer said he was pushed from a plane and fell into the gulf of mexico.

he was reported missing back in 1997 and his car was found at an airport parking lot. he was a pilot. gets crazier by the day. stuart: but it's very very good for ratings and viewership. you can't lose with that, can you. no, you can't. more "varney & company" after this. . .

♪ stuart: gets your attention,

doesn't it? a dancing dinosaur making root beer deliveries in vermont. rookie's root boar usually sells in local restaurants. they closed up and got creative. dancing dinosaurs, bernie, ben & jerry's socialism, i guess that is vermont. neil, that's yours. neil: i thought for a second it was ashley dancing. all right. maybe not so funny. guys, thank you all very, very much. we have the dow up 302 points. looking at stimulus combing down the pike. half does states are branching out removing some stay at home provisions, some more generously than others. we got word that new york governor cuomo is considering staggered reopening, reopening manufacturing and other sectors in the up state region, decidedly more rural than down state, which includes manhattan,