can send it to "invested in investedinyou@foxbusiness.com. now please, keep your questions to 20 seconds or less. really helps if the question is straightforward and to the point. we're going to run a lot of them. 20 seconds or less, please. my time's upnow. neil, it is yours. neil: we have to redo that question from varney. 20 seconds is not 20 minutes. thank you, stuart. we're working on that. trump it down a little bit. thank you my friend. we're following up on that. we're following up on a market which doesn't know which way to go. technology stocks started with a tear this morning, giving back a lot of the gains. much of it focused what is happening on the virus front. as all 50 states begin unwinding provisions in some cases have been in effect for upwards of two months it's a bumpy ride but not that bad of a bumpy ride.

jobless claims news, over last nine weeks, over 40 million americans applied for first time jobless benefits this is expected to be about the worst of it. we might see an unemployment report tipping 20% or so. that could be the worst of it or at least that is the hope. let's getted read from jackie deangelis following what is happening on the virus, following what is happening on the markets putting it all together. hey, jackie. reporter: neil, with respect to a bumpy ride the markets are a little confused today. down 50 points, this is smaller bump than we've seen in the past which is definitely a good thing. the big question has always been as states start to reopen, are we going to see a spike in cases? that was always the fear, the argument against reopening. here is what we know, global cases topping five million but that doesn't really tell the whole story. testing has become more readily available. more people being tested. it will look like more people have the virus, presumably

before a lot of people had it, we didn't necessarily know about it. meantime look at the jobless claims. market definitely taking that into consideration. they're telling us two things. a lot of people are still filing for unemployment benefits, 2.4 million last week. so the total number of people that are out of work because of the coronavirus, close to 39 million. i mean that is a staggering number but at the same time that weekly number is decreasing since it peaked on march 28th. it was 6.6 million then to give you a little bit of sense of perspective. remember as you mentioned, when we get the may unemployment report the numbers will be ugly but the market knows that already. we hope that is being factored in here. having said that, tech did lead the day forward. so we were watching stocks like amazon, facebook. think about the importance of technology throughout the pandemic. for those arguing that maybe we should scale back how much technology we use, you realize how important it was for people

to not only have those services but the convenience throughout this. that sent the stocks much higher. we saw amazon and facebook at new record highs. finally in a note to clients, jpmorgan is looking at impact of viruses, the virus on the markets. it charted spread of the virus of u.s. states that reopened in order to forecast where the market goes from here. they found infection rates declined after lockdowns ended. that is amazing. you see majority of states under that line there. and they say couple that fact with the fact that we've got lot of monetary and fiscal measures taken by the government, by the fed, to help people stablize the economy. and they think the markets will recover quicker than expected. back to the point of bumpiness we talked about, 46 points down on the dow now, these bumps are going to get smaller if jpmorgan is correct, neil. back to you. neil: the one thing own amazon i

was curious about the fact they're pushing back the prime day to september. that wasn't expected or was it, just hit a record all-time high? yesterday it has been back-to-back, kind of phenomenon. what is driving that? >> it is tough for this company to kind of operate in this environment, that has been so challenging but they have been really hitting it out of the park. they implemented a lot of measures to make sure people get what they need, when they need it, with respect to the pandemic because of the lockdown. i think that is really where the focus has been. the company is saying we can look at prime day, you know, something we do down the line. remember, if you've been ordering on amazon as i have, essential items are not coming that quickly. it could take anywhere two weeks to a month just on regular shipping to get, you know, an item more discretionary in nature. remember a lot of employees, essential workers going in taking those risks, taking those hits to make sure orders are

fulfilled on essential items, neil. neil: well-put. all right, thank you, jackie, very much. we'll come back to you a little bit later. meantime the president is heading out to ypsilanti, michigan to a ford plant. he has had a touch-and-go relationship with ford but this particular plant has a lot what he wanted to see companies do, renovating itself to make ventilators, personal protective equipment, ppes. it has been on again, off again relationship with the big automaker. combs at a time people wonder whether the president wear as mask to the facility. blake burman following that. hey, blake. reporter: a lot going on as president trump set to leave the white house for the state of michigan. he wit be visiting a ford plant there, completely shut down in march, but started to bring back in workers, got into the ventilator making business and did so very successfully and that is what the president is going to be highlighting in part

as he goes to ypsilanti down from ann arbor a little while from now. mike pence teed up the president's departure when he spoke to start varney a little while ago. watch. >> we brought together with general motors with,ge and now with ford as the president will reflect today that are now building ventilators. we'll actually have 110,000 ventilators constructed in 100 days. i think it is nothing short of a national accomplishment that no american who required a ventilator in this country was ever denied a ventilator. reporter: national accomplishment. 9 vice president says that is clearly what the administration, neil, what the president will try to highlight at this ford plant event. however you brought up the issue of a mask. that is sort of made its way into the forefront because at that plant it is required.

you have to go into the plant you have got to wear a mask. however in the lead-up to this ford said they would defer the decision to the white house. the vice president said in turn that would be deferred to the white house physician. so as we await the president leaving the south lawn here, i have got a feeling, president was asked about this a couple days ago, that could potentially be one of the questions he is asked here as many people all across the country look to the president of the united states for guidance. neil? neil: so then you got to wonder if he is not wearing a mask, to make him not feel isolated, the other ford executives with him if they're not wearing a mask, gets to be sort of like reading each other's physical demeanor? reporter: and the argument would be. i'll send it back to you, neil. neil: no. reporter: i was going to say that the argument that the

white house -- okay. i think we got a delay. i will kick it back to you. neil: we do, we do. nice escape there. blake burman, i don't think he will going to wear a mask. now that they have heard this of course he will wear a mask but i'm telling you i don't think it is going to happen. mike 11 joins us, former utah governor, former health and human services under bush 43. i will ask you the question on everybody's mind, do you think the president wear as mask when he goes to the ford facility today, and do you think he should. >> i don't know whether he will wear a mask or not. i will tell you i have a mask in my pocket. i will wear it if i can't social distance. that is just me. i think the decision most americans are having to make right now. neil: all right. we have some audio issues, with you governor. i hope we can fix them. but i did want to get your sense where you see this whole process going? your state, like so many other states, like all 50 states are in some way unwinding provisions

that have been in effect for better part of a couple months. alaska, by tomorrow, sir, will be back exactly the way it was prior to all of this. other states could very, very quickly follow. are you surprised at the pretty fast pace of all of this? >> social distancing and kinds of things we did were drastic action but it was like a medical intervention and with any medical intervention there will be side effects and we've been feeling them, once you have had the benefit of that medical intervention you have to manage it. right now, we're learning how to manage the side-effects of the medical intervention and we're going to learn as we go. this is a time we'll need to rebalance the way we responded and which need to learn what works and what doesn't. neil: when you look at the whole environment right now in the country, obviously we have to balance, i get it, people's health getting them back to work, that can compromise with

health if that is delayed too much, it is about the economic impact of all of this. we already know that claims over the last nine weeks gotten close to 40 million americans and that this could drag on a while, the impact of this could drag on a while. do you think that the recovery automatically, much slower than earlier thought. we bounce off where we are? just going from zero capacity, for example, to at least some capacity means it improves but that could be slow-going? >> in business -- [inaudible]. i am not -- v-shaped recovery. i think it is a little longer than that because we had things ahead of us we haven't yet faced. i don't think we're going into the kind of lockdown we did before but it is very possible we could be facing some difficulty things we haven't dealt with. i use the term rebalancing and

learning. i think we wind up doing both during the next several months. neil: all right. we'll watch closely, governor, secretary. always a pleasure having you on. be healthy and well, your family, everyone around you be well. in the meantime here it is a salon in wisconsin but the owner of that salon arguing on religious grounds, going after the state for forcing her to not open. it is a little bit more convoluted than that. she runs the kingdom clutch, the owner there. jessica, maybe you could explain this to me, it is a salon, you cut hair. it is a religious effort as well. could you explain that to me? >> so, i have had -- past for me, what is in my relationship

with god has been kind of sordid. and so when i was able to open the salon and start it, it just was very important to me that i ran it as a christian-based business. it has been in my websites, listed in my brochures since the get-go. basically how i treat people and how i operate the salon and my whole salon to covered in bible verses. i don't have to always preach to somebody or whatever but i prayed with people in my salon. i have witnessed to people in my salon. it is just, that is an important aspect of my salon, what i do. it is more than just cutting hair for me. it is ministering to people. neil: so when the state was delaying the opening of such salons, you had argued not so much on the business as much as religious grounds that it was unfair. have you filed suit against the state, the governor, because of that? >> that's correct.

it is, i wouldn't say it is more one than the other, it's both. at the end of the day, i'm a mom trying to feed her family and keep afloat. i was looking at losing everything. on top of the fact that i could no longer minister to other people. i mean my parents -- there is a lot to it. it is multiple things. and it is not just me. it is not just for me. there are hundreds of thousands of people and businesses out there that are in the same position and so it us's, so everybody can open up, make a living, provide for their family and not lose everything. neil: now you probably heard what happened to the belmawr, new jersey gym owner whose store was closed because he had been keeping it open. now he insists he will reopen it and continue to serve customers. that is new jersey, there is a mixed sort of treatment that, you know, store owners such as yourself are getting when they

defy state regulations and rules. now obviously you filed this suit. i don't know if you heard back from the governor or any of his people, but, they have made it very, very clear that you can't be doing this, so what do you do? >> i, well, the supreme court obviously came out in wisconsin and said that, this is, you know, unconstitutional and wrong for many reasons. so i just kept running, i just kept working. i had no choice. at the end of the day i had no choice. i worked very hard so that i wouldn't be on government assistance and i wouldn't be on any kind of housing and to build a family, successful business so that my family, my girls, i have three daughters so they can see, you know, what you're supposed to do here. you're supposed to work hard. you know, make yourself successful so that you don't need help and handouts from the government. i kept working. i will continue to keep working.

i have, and a lot of businesses are now able to reopen and, continue to work. neil: all right. we wish you well. you're a brave lady. obviously the powers that be in your state for what seems a good arguable reasons here. keep us posted on how this goes because you have got a nation watching you very, very closely, jessica. be well, thank you. >> thank you. i appreciate it. neil: all right. again we will be monitoring that particular case here. also monitoring what is happening on wall street right now, where a sell-off in the dow, not a big one. some technology stocks that led the parade well they're not leading it as much people will often find reasons to pounce on issues that hit all-time highs like facebook did yesterday, like amazon did yesterday. that is exactly what they're doing. they might come up with a variety of excuses to plain that. it cobe as simple as that. stay with us. you're watching fox business.

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♪. neil: all right. the longer this drags on the more jobs lost, diego ortiz, job

creator network ceo, joining us via skype, says this is what happens when you have things shut down and he sort of wants to get a second opinion on that. alfredo, very good to have you back with us. >> thanks for having me. neil: your store is reopening -- very good to have you. it is not happening at the pace you like to see, right? you want to speed it but they're not speeding it up, so what do you do? >> neil, that's right. at the end of the day it is not about the economy versus life but life versus life. some of the folks insisting continuing shutdown would be on some phone calls i'm getting directly from small business owners across the country, friends of mine who have been in business for decades who are strong supporters of the community in tears because overnight, effectively they have seen their entire life savings and life dream up in smoke because of something the government drove, which is a government shoulddown.

this is not about economy versus life. it is about life versus life. this is real-life people being impacted on a grand scale. we saw jobless claims today, neil. look at numbers. we're talking almost 30 million jobless claims right now. 15% unemployment. this is about wears a mask real wears a mask it gets, neil. neil: in fact close to 40 million over the last nine weeks to your point. i wonder, though we do see, not consistent in all states, alfredo. certainly a lot of states seen unexpected uptick in cases. texas came to mind. there was a brief run-up in wisconsin, what have you. i'm wondering whether, when you hear news like that, governors are going to seize on that, governors in other states that might not have the same thing, and say, we're going to go slow here. maybe slower than we planned? >> yeah, that's right, neil. why we took the full-page ad out in the "wall street journal" today asking dr. fauci for a

second opinion. this is real. he brought up some good points but we do need the second opinion because we needed indicated decisions to be able to make these really, what i'm calling massive decisions whether to open, whether to close. really in some cases down to zip codes, down to counties and municipalities. we have to be educated. what we need to make sure we can protect and we can show this, we can isolate the few here, neil to protect the many, instead of really isolating the many to protect the few. this is what is most important. this is why we took the ad out to ask that very, very important question so that americans ask that question of themselves. america did what it needed to do for the first few weeks. it shut itself down to protect everybody, to flatten that curve. flattening that curve. we did not do that to eradicate covid. we did it so that we wouldn't max out our health care systems. we have achieved that. now we got to go back to that objective. we achieved that objective.

got to open up our economy safely and smartly. we have to do this, like i said, neil. people on the phone calls i get from people across the country, business owners of all different types, different political affiliations this is real life. it is impacting their lives and livelihoods. it is a tough decision. this is life versus life. neil: i know what you say about dr. fauci, he is oaf the opinion, sometimes we could be rushing this. so you want a second opinion to his opinion, what you're essentially saying? >> that's right. like in life, neil, whenever we get something a serious medical condition, people say something about that of our own lives, we seek that second opinion. that is all i think we're seeing for, respectful here. dr. fauci is it great american. done fantastic things for our country. all we ask is a second opinion so we make educated decisions wears a mask americans. neil: all right. we'll be watching it very, very closely. be well, be safely, be healthy.

alfredo ortiz, job creators nyet work president and ceo. he looks after those he cares very much about. a lot of americans do. like dr. fauci he will argue to the cows come home about the wisdom going slow on this. do you have other folks like alfredo, yeah there is such a thing going at a pace but this pace drags on much longer we're all in deep trouble. stay with us. ♪. ♪

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confident financial plans, calming financial plans, complete financial plans. they're all possible with a cfp® professional. find yours at letsmakeaplan.org. ♪. neil: by now you know that 2.4 million americans are applying for first-time jobless benefits while the trend is down, what is unmistakable over last nine weeks over 40 million americans have done so. the lockdown leads to claims going up? the hope this slows down and starts reversing. this is the worst of it, too soon to sell. edward lawrence following all of this very closely.

edward. reporter: neil, jobless claims very bad number but the trend is coming back down. looking at this economy wondering whether it will open up. i have a very special guest, joining me boston federal reserve president eric rosengren. his fed is responsed or tasked with the responsibility of looking through the main street lending facility, that will help small and medium businesses. eric, i want to ask you when the program will be up and running because people want to know when they can keep their jobs? >> we're hoping to have the program up in next couple weeks. fairly soon we'll putting up the lending documents which are important documents obviously for the borrowers and the lenders. after that we'll need to register the lenders. then we'll be able to start taking in loans. it will take about two weeks. we're making progress about it, this is complicated facility, unlike other facilities focused on facilities, this is focused

on bank loans. bank loans are complicated documents between borrowers and lenders. we want to make sure the details are right. reporter: comblycation is what is taking so long? is that what it is? >> there are a number of things that make this particularly complicated. one is, previous facilities that the federal reserve has done both now and during the financial crisis where securities that are standardized products for mostly very large firms. a bank loan ask a non-standardized product for mostly small and medium-sized firms. so we have a lot of outreach to both banks and borrowers, beat back on the term sheet, very complicated legal agreements simplified in a way we can provide financing that would work for a wide variety of borrowers and lenders. so that complication, and that amount of feedback we tried to

get from the industry is one of the reasons why it has taken this long. reporter: but eric, we've seen number of bankruptcies from march, chapter 11 bankruptcies specifically from march to april increase 26%. is this too late for those small and medium businesses? >> i don't think it is too late. i think that firms are in different positions. we're trying to get this up wears a mask fast wears a mask we can. once we have the facility up, it will work for some borrowers and not other borrowers. a key element of the program you have to have a bank that is willing to underwrite the loan along with us. so the banks are are taking depending which of the loan programs between five and 15%. and the federal reserve is financing the rest. but you need to have a bank that is willing to underwrite the loan. reporter: let's turn to unemployment. where do you which they peak at

the end of the year? >> unemployment rate like gdp has been affected by the mandated shutdown which was done to try to keep control of the pandemic but it's a mix of people that are mandated to shut down along with businesses that are having a great deal of difficulty. wears a mask a result having less demand or are actually failing wears a mask you were just alluding to. so i think it is a little premature to know exactly what kind of mix we're going to have. the unemployment rate is probably around 20% wears a mask we get into june. that is taking into account that we had a relatively problematic initial claims. that's added to several weeks where we had very high increases in initial claims and at the end of the year, i still expect the unemployment rate to be double digits, which is to say there is going to be where we're at. it will certainly not be

recovery back to full employment by end of the year. reporter: do you see gdp following that with the peak, or with the low i should say coming now, then we'll see it gradually come up or a quicker rebound to come back up? >> well the part that is a result of state mandates to shut down why it was so precipitous in terms of falling. many firms will be able to open up wears a mask these mandates are taking off. so as a result we're going to see a pickup in gdp. that is also folk to be relatively large, but i think the more important factor is, is it going to be offsetting the amount of decline we have. not all of it is going to be on set. that is why we'll still have double-digit unemployment is my forecast at the end of the year. reporter: when do we get back to that? is it next year we get back to the maximum employment where we are with record unemployment or

record low unemployment i should say? is it next year or years? >> i think it will be probably the end of the following year but there's a big if in that. right now economic projections are very much tied to the public health out comes. so if we're relatively successful controlling the pandemic. if we get medical solutions either with new medicine or a vaccine. that is a very different out come than if we don't get those things. in particular if we have another sharp increase in the fall, people that are becoming infected, we had to have shut downs in some parts of the country. that is going to prolong the economic theme wears a mask well. so economic forecasting, normally i don't consult epidemiologists. right now we are definitely consulting epidemiologists getting a sense what the public health out comes from going to be.

reporter: eric in the last 10 seconds, states opening up, good move, bad move, how do we mitigate that quickly. >> if we do it safe and responsibly it is good news. in the end we need consumers to feel confident, they can spend, shop, go to museums, go to see movies and we're not there yet. hopefully we'll get there soon, but we have a ways to go yet. reporter: boston federal reserve president eric rosengren, thank you very much. neil, you heard there, peaking at 20% for the unemployment rate. coming back, not the v-shaped we're indicating but we'll get rebound. record unemployment saying back in 2022, possibly. back to you. neil: his words certainly carry weight. edwards thank you very much. my thanks to the boston fed president. also letting you in on the slow-go the boston fed president touched on. airlines are proof of that.

they will be flying obviously. they will not be flying at full capacity. that you will get used to it. in fact jetblue is making it clear that that middle seat that has been bone of contention for some carriers, blocking it off. you don't have to worry about it. no one will be sitting in it. jetblue ceo after this. ♪ ♪

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but i think i've been 'round long enough to know what's what. i'm proud to be part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. call now so you can... retire better neil: president is speaking to reporters on south lawn reporting to marine one going to a michigan ford plant he will go to later on today. he was talking a little bit president announcement that government is talking about astrazeneca, talking about a one billion dollar commitment on a potential vaccine. he says a lot of good things are happening on vaccines. i think eight or nine are seriously coming along here. which one wins is anyone's guess. we commit ad good deal of money

from the astrazeneca option here. we'll keep an eye on that. when the tape comes from the south lawn, any other comments president making we'll forward that to you. we have a congressman joining us, republican from the beautiful state of missouri with lots to talk about, congressman. i appreciate you taking time. appreciate what the president says, about vaccines and modern day marshall plan we're providing government muscle on various efforts to come up with something. maybe by end. year, early part of next year. what do you think of this? >> i think it shows the greatness of america, american ingenuity. i'm proud of scientists and researching out there working so hard to find this vaccine that is going to be an important key step to fully reopening our country. like to see the kids get back into the schools, see our businesses thriving once again. and i think it is very positive

news. neil: there are other developments, that i know i keep throwing breaking news items, when the president says stuff i like to bounce them off important folks like you. president says china's move on hong kong, it will really crack the whip, i'm just paraphrasing here and take some security measures against hong kong, maybe cynics say because of the cover for the coronavirus, president went on to say if it happens the u.s. will have a very strong reaction. wears a mask you know, you're a big agricultural state wears a mask well, relations between our countries have gotten significantly frayed. are you worried that this type of talk, other types of actions we might take are going to throw out that trade agreement, maybe the chinese don't buy wears a mask much beef, they don't buy wears a mask much agricultural supplies they committed to. what do you think? >> well, that is a concern but the chinese people do have to eat wears a mask well. they have african swine flu

pandemic in their pork population that has caused many of their pigs to die and they need pork from other countries. they need need beef. and so, they will continue to still buy from us hopefully they do it a fair way. we're asking china play by the rules the rest of the world does, whether trade or economic trade, or whether it is with our military and our national defense. china has not been a fair player. this coronavirus has shown that how they can be so deceptive, even at the expense of other lives around the world. and so they need to change their ways and become a fair player if they want to continue to be part of the world stage. neil: real quickly, liability protection from meat processors,

many were forced to open under the president's direct order, a lot are concerned should more workers get sick, they're on the legal hook for that. where does that stand right now? >> sure. well i have introduced legislation to protect them so that wears a mask they open safely and provide very important food and meat for our consumers, they're not exposed to frivolous lawsuits. that is the last thing we need right now. and, i visited with the leadership both in the house and senate, putting together a large package that will provide liability protections. they're very interested in my particular bill that addresses the meatpacking plants because it is crucial that we keep them open. we have pork and beef products and chicken and others out on the farm and yet we have empty shelves in the grocery store. and we need to keep these packing plants open so that our farmers, ranchers have someplace

to sell animals and livestock. so that consumers can find meet when they go to the grocery store. neil: keep us posted how that legislation is going, congresswoman. we appreciate you taking the time to answer all the other breaking news questions wears a mask well. congresswoman vicki hartzler of missouri. thank you, congresswoman. i want to go to jetblue ceo. in case you have problems or concerns about the proverbial middle seat, jetblue said they will not use it. you won't have to worry about it. robin hayes with us right now. why did you decide this, robin? >> hi, neil. we, the number one thing we can do at the moment is give people confidence that if they need to fly, we'll make it wears a mask safe wears a mask anythings that they need to do in their lives. you know, we know from talking to our customers, one of their concerns is, i'm on the airplane. i sat next to someone that i

don't know. and you know, how can you make me feel better about that. what we announced to july 6th we'll keep middle seat free unless you are a group wish to sit together. that with the face coverings, all the other things we're doing, we think is creating a environment where people should feel completely comfortable and safe about getting on an airplane when they want to make that trip. neil: looks like what you hope for is 60, 65% capacity on a typical jet is that right? >> we're capping our flights at maximum 60%, in addition to middle seats, we're keeping rows, in-flight crewmembers sit, creating a buffer zone between them and their customers. just for added peace of mind for the crewmembers and customers.

neil: you were talking about bumping off the bottom, referring to traffic that might be picking up a bit. you think you're through the worst of it? >> yeah, you know we were bumping along the bottom for a while. we bumped off the bottom. we're seeing eight to 9% of what we would expect middle of april when we were on the bottom. it was closer to 3 or 4%. we're also seeing a little bit of interest for vacation travel and people booking trips for holiday period later in the year. neil: you know, a lot of your employees, i think delta was hearing the same, they were concerned that you're giving them short-shrift. their hours were cut. some looked to be laid off. they think they're paying the price for that. what do you say to them? >> you know, our, at jetblue we've been around 20 years. we never furlough ad crew member. we've been through, we were

created before 9/11. we went through the financial crisis in 2018 2008 and 2009. our number one priority is to protect wears a mask many jobs wears a mask possible. that is what we're focused on. we're greatful for the cares act. it buys us some time, president trump, government, administration, members of congress, everyone came together to allow airlines to buy some time so we can see how the recovery takes hold because when, if you sit airplanes down, if you furlough airline employees, you can't just turn it on the next day. it can take months, to get airplanes, get pilots we trained. we want to be here for when the economy starts to tick up again. this cares act buys us time. the cares act protects our people through the 30th of september. we need to think about what the world looks like after that. neil: you come under criticism, not you directly but delta and some others, i believe united,

those that got some relief, elizabeth warren was among those, that you shouldn't have gotten it if you were going to go ahead and cut employees hours. what do you say to that? >> well, i mean, pay rates are protected under the cares act and so. neil: right. >> the money that the airlines got under the cares act only covers about 76% of what our people got last year. and, you know, demand is about five to 10%. so there is a lot less hours in the system. we have a number of problems that crewmembers can sign up to in terms of reduced hours. 60% of jetblue crewmembers, taken voluntary time off. but every dollar of the cares act money, every dollar of that payroll support goes directly to support the salaries of our crewmembers. and that, again, buys us time. our number one priority for jetblue to get to the first of

october, come out the other side of this and protect wears a mask many jobs wears a mask we can. neil: all right. i understand that. you can't create demand out of thin air right now because that is certainly lacking for your entire industry. robert hayes, thank you very much, the jetblue ceo joining us right now. we're following a lot of developments right now. we're due to hear shortly from the president of the united states. he is speaking to reporters here. i think you know the drill. he is long boarded marine one. that tapes get back to us and some of the issues he is saying, confidence potential vaccines are out there right now. we invested wears a mask a country, better than 1 1/2 billion i believe in astrazeneca. among billions more we're committing to promising efforts to treat coronavirus or at least mitigate its more devastating impact. we're also getting word that the president might have addressed this idea whether he is going to be wearing a facemask when he visits ypsilanti, michigan, ford plant later today. it is required.

the big question is not so much whether he alone chooses not to wear a mask where it is required but whether any other executives showing him around will, to support him, not all be wearing masks themselves. we're monitoring that. also monitoring the wall street reaction to all these developments here, not the least of which is concern that even wears a mask good and strong wears a mask the retail news has been, a lot of people are taking profits from yesterday's run-up. that and the fact that amazon a short while ago indicated its prime day, a big sales day for the company, which was to be of course a summer event, pushed back until at least september. but amazon has been on fire. i think it has had day after day of record closes here. that is sort of like the wind at retail sector's back but not all retailers have been benefiting. president's pitch will be the same, he will pound this again in michigan. the idea the economy has to get back, people have to get back to work, businesses have to be allowed to do what they do best. business, make money that will

balance out all well with concerns of public safety. the president. >> so we have a lot of good things going. we had a meeting with mitch mcconnell and the group. we're working on a package of very positive things. we're getting very good numbers, looks like the numbers are going to be very good into the future. we're going to be very strong starting with our transition period which will be probably june, june july. i think you're going to see some very good numbers coming out. and next year will be an incredible economic year for this country. one of our best. always paying respects to the people that have lost their lives. we always have to remember that. the people that have lost their lives. do you have any questions? reporter: mr. president, where are you on funding for michigan. a lot of people are concerned. they are flooded out. last thing to see -- >> we are looking at the floods. we have our people from the army

corps of engineers there. we have fema there. i spoke with the governor, governor whitmer yesterday, and we have a very good understanding but we have moved our best people into michigan and our most talented engineers, designers, the people from the army corps of engineers. they do these things probably better than anyone in the world. reporter: what about funding though? >> we'll take a look. we'll take a look. that was, unrelated to that. reporter: [inaudible] >> russia and us have developed very good relationship. wears a mask you know we worked on the oil problem together. i think we have a very good relationship with russia but russia didn't adhere to the treaty. so until they adhere we will pull out but there is a very good chance, we'll make a new agreement or do something to put that agreement back together. but whenever there is an agreement that another party doesn't agree to, we have many of those agreements around the world where it is two party

agreement but they don't adhere to it and we do. when we have things like that we pull out also. that is why with the arms treaties, look at the arms treaties we're probably going to make a deal with russia on arms treaty. china will may be included in that. we'll see what happens. we have a lot of things. when we have agreement, we have a treaty and other side doesn't adhere to it, in many cases they're old treaties, old agreement the. we'll pull out also. what will happen we'll pull out and come back to make a deal. we had a very good rimm with russia. you can see that with respect to oil, and what is happening with oil. reporter: [inaudible] >> i didn't know that. reporter: i didn't know it. >> i didn't know it. reporter: reaction? reporter: [inaudible]. >> say it? reporter: businesses going to make things worse than russia, increase tensions? >> i think we'll have very good

relationship with russia. i think that, if you look at what happened with oil where russia, saudi arabia and us got together, and we saved in our country millions of energy jobs. you see oil now is solidifying. so it is best of all worlds. we're saving energy jobs but our drivers have very low gasoline price. reporter: will you wear a mask today at ford plant? >> i don't know. we'll look at it. a lot of people asked me that question. i want to get our country back to normal. i want it normalized. one of the other things i want to do is get churches open. the churches are not being treated with respect by a lot of the democrat governors. i want to get our churches open. and we're going to take a very strong position on that very soon. reporter:

>> yeah. including mosques. including mosques. [ inaudible question ] >> yes, i wish them well. very well. go ahead. reporter: [ inaudible ] how confident are you one will be ready by the fall? >> you have astra-zeneca which is a great company and you have others, johnson & johnson, we have a lot of things happening on the vaccine front, on the therapeutic front. if you look at therapeutically, we are doing great. and on the cure front, which is the next step. i think we have tremendous things, that announcement came out this morning, that's a very positive announcement in addition to all the other announcements. we are so far ahead of where people thought we'd be, but therapeutically it's very interesting what's going on, and cure. so you're going to have a lot of big announcements over the next week or two. reporter: [ inaudible ].

>> we are helping michigan with their flood. we have the people to do it. reporter: what about the funding? >> we don't want them to do mail-in ballots because it's going to lead to total election fraud. so we don't want them to do mail-in ballots. we don't want anyone to do mail-in ballots. now, if somebody has to mail it in because they're sick or by the way, because they live in the white house, and they have to vote in florida and they won't be in florida, if there's a reason for it, that's okay. if there's a reason. but if there's not, we don't want to take any chances with fraud in our elections. reporter: the chinese parliament is poised to pass a national security law cracking down [ inaudible ]. are you aware of this? >> i don't know what it is because nobody knows yet. if it happened, we'll address that issue very strongly. reporter: [ inaudible ]. >> so looks like g7 may be on because we have done well. we are ahead of schedule in terms of our country and some of

the other countries are doing very well. looks like g7 will be on, a full g7, and we'll be announcing something probably early next week. reporter: [ inaudible ]. >> i can't hear you. you have your mask on. i can't hear a word. reporter: [ inaudible ]. >> we'll be talking to you about it. reporter: how long do you expect to take hydroxychloroquine? >> i think it's another day. i had a two-week regimen of hydroxychloroquine and i have taken it, i think just about two weeks. i think it's another day. i'm still here. i'm still here. and i tested very positive ly today in another test, this morning. yeah. i tested positively or negative, right? no, i tested perfectly this morning. meaning i tested negative. [ inaudible question ] >> positively toward the negative. reporter: have you taken the

antibody test yet, sir? >> no, i have not. reporter: columbia university put out a report in the "new york times" today that said 36,000 people would have been saved if you guys did social distancing measures just one week earlier. do you believe that? what's your reaction to that? >> i was so early, i was earlier than anybody thought. i put a ban on people coming in from china. everybody fought me on that, they didn't want it. nancy pelosi, a month later, was dancing in the streets of san francisco in chinatown, people wouldn't believe what's happening. i don't even blame that. but i was way early. columbia's an institution that's very liberal, it's -- i think it's just a political hit job, you want to know the truth. reporter: you want to have the g7 here at the white house or camp david? >> we will have it probably at the white house and maybe a little combination of camp david but primarily at the white house. if we do the g7, when that all comes together, probably it will be in d.c. at the white house.

okay? but there could be a piece of it as camp david which is nearby. reporter: [ inaudible ]. >> so again, our relationship with russia has improved greatly, especially since the russian hoax has been proven totally false and illegal, what they did. this was an illegal hoax and they got caught. they got caught doing a lot of bad things. let's see how that turns out. our relationship with russia has come a long way in the last few months. i think that the open sky will all work out. but right now, you have an agreement and the other side doesn't adhere to the agreement, we're not going to adhere to it either. i think something very positive will work out. reporter: [ inaudible ]. >> i'm thinking about going. that will be next week, to the rocket launch. i hope you're all going to join me. i would like to put you on the

rocket and get rid of you for awhile. okay. thank you very much. thank you. neil: all right. a couple interesting comments there tehe end, the president referring to the spacex launch where two astronauts will launch from cape canaveral, first time we have seen a u.s. launch into space for the first time in the better part of a decade. he's still holding out the possibility he could be there, even zinging some of the reporters that he would love to put them in a rocket into space. he also talked about hydroxychloroquine, that he's wrapping up his own regimen with the controversial drug. not controversial insofar as it takes care of those dealing with malaria and lupus. it's still a big question mark as to whether it helps those dealing with covid-19. as we have been reporting here, the issue seems to be for vulnerable subsets of the population, those with cardiac and respiratory issues for whom

there is the risk that this could kill them, this could cause abnormalities and all. very few but it is a risk. so he is dialing that back. they're not exactly sure why, but that was one of the things the president indicated. also talking about that big investment the u.s. government has made to help astra-zeneca along in that quest for a vaccine. it's a $1.2 billion commitment. more money will be spent as the president leads this marshall plan effort to find a cure or vaccine or something that deals with the damaging effects of the coronavirus that has already claimed better than 93,000 american lives. he is on his way to michigan right now. he will be visiting a ford motor company plant that has been retrofitted now to make ventilators and personal protective equipment, ppe, you hear a lot about it. the big question is whether he is going to be wearing a face mask when he's there, hospital mask. he has so far not been seen at

least photographed or videotaped wearing such a mask on a number of other cases, the very issue has come up. whether the other ford executives who will be giving him a tour of the plant will be wearing that and sort of saying you, mr. president, should do this as well, we'll see. there's a parlor game of intrigue here later on today whether he will or not. enter charlie gasparino, very good at parlor games and intrigue and breaking news. charlie, if you time this, his visit to that plant and his concerns about michigan, his concerns about industrial states, you and i have gotten into it again and again. this entire year turns on his response to the virus. it really comes down to that, doesn't it? charlie: it does. by the way, i thought that was a great -- i would love to see more of that out of donald trump. he was somewhat self-deprecating, he was funny about sending the reporters up in space.

i thought that was a great line. by the way, what president doesn't want to do that? he had to tout his own stuff, he did it directly and he stayed away from crazytown. i think this is where donald trump i think is going to get in trouble, and i know this because i just know the way the democrats are going to attack him. i have a lot of sources on wall street who are very close to biden and they are going to basically say the guy is nuts. he's going to say joe biden is sleepy and old and try to suggest that he's senile, not up for the job. they will come back and say he's nuts. they are going to play that meme in particular in those industrial states that were very close, that all now have democratic governors, pennsylvania has a democratic governor, michigan has a democratic governor, wisconsin has a democratic governor and they think that meme that donald was uneven in his response, that this press conference, like i

said, he was good here. it was the other ones that is problematic. his attacks on people, you know. yesterday he was raising some crazy issue about a woman who died unexpectedly in joe scarborough's office 30 years ago. that's the type of stuff they are going to sort of tear at him and it's going to be -- he's going to have to have a hard time overcoming that, particularly because those states he needs to win, that he won the last time, all run by democrats now. it's going to be very interesting to see how he pulls that off. neil: i know you have other stories but one of the things i note, it was a little different than in the past, he did show a little bit of humor there, but this idea of where he's obviously upset about michigan and this idea of the mail-in vote and all but to threaten coronavirus aid to the state or even emergency aid or at least to imply that, the flooding and everything else, that might have been a separate issue, but i don't believe the two are connected. that could get him in a heap of trouble. you know? charlie: yeah. i mean, any time you tie aid to

particularly in a time of crisis, you know, that sounds like blackmail, right? it just sounds so bad. again, i think that, you know, i give him an a-minus for this. it was pretty funny aside from a few things, you know, his stuff on hydroxychloroquine, you know, say what you want, my brother prescribes it, okay, just so you know. why do doctors in hospitals particularly in new york, although i hear they are doing a lot less of it now, prescribe it in icus like my brother did. because there was nothing else available. by the way, the science on its effectiveness is right now pretty mixed and weak. people don't know if they are getting better because they are getting better or -- neil: just to be clear, i'm sure your brother does say and weigh whether they have any underlying conditions that would make them vulnerable to some of these other issues that could take away the benefits, right? charlie: not just that, neil, he monitors them strictly because

this stuff has been known to kill people, give them heart attacks. he monitors them strictly. again, you know, he's not sure it works and you know, that's generally the prevailing wisdom and most doctors i know, you know, like i said, they use it -- i saw some story someone sent to me, it was after your little controversy that doctors say, you know, the most effective cure for covid and there is no cure for covid. it's only effective because there's nothing else there. so when you see some anecdotal evidence people getting better you think it's effective. you really need to wait on testing on this thing before drawing conclusions and by the way, it does work for malaria -- neil: all we were saying in our reporting, you just touched on it, it works for malaria, for lupus. all we're saying is when the president mentioned what have you got to lose, for a vulnerable subset, albeit small

subset of the population, it can be very very risky. but again, we can go on and on about that. but you do have some other news for us as well, right? charlie: yeah. i mean, neil, the good thing here is as the president said earlier, there are cures possibly on the way, there are some vaccines possibly on the way. that's all great developments. also, the other thing that we do know is that the virus spread, particularly in new york, has declined dramatically recently. i can tell you anecdotally from what my brother says at brooklyn hospital, and i can tell you numbers-wise, know it, governor cuomo said it, ned lamont in neighboring connecticut has said it, new jersey governor has said it. so what does that mean for reopening manhattan, which is the financial center of the world? i'm getting this from executives at the big banks. there is nothing written in stone, but the general consensus and they are meeting together, by the way, they are dealing with this in unison, general consensus is they can start bringing back people, more people, sooner rather than

later. later was late in the summer. sooner right now means, again, it's a moving target, it's unofficial, it's june-july time frame, where people can start coming back to offices. now, will this be the whole enchilada, no. they will filter them back in. basically office culture will be a lot different, particularly manhattan going forward. there will be less people in elevators. you just can't bring all the people back in. but they are gearing up for some sort of open at least as of now. it could change when the data changes but bringing people back in in mid-june, july. a lot of this is related to the fact that, you know, you can't have everybody working from home. some people can. brokers, the financial advisers do very well at home. others, traders, not so much. people can come back, people -- they are eyeing that june-july period for more what's known as essential workers coming back in. now, lot of people say, i mean, i have done some reporting on

this and people say well, can't cuomo just it, governor cuomo. remember what governor cuomo said. essential businesses can operate still. wall street is still an essential business. the financial sector, the banks. so it's essentially up to the banks the bring people back. the new york stock exchange was able to marginally open the floor recently. i believe they will do it after labor day because new york stock exchange is considered an essential business. that's where we are right now. it looks like because things are getting better, that schedule of reopening or starting to reopen the big banks in new york city is being moved up to that june-july area. you know, a lot of other businesses take their cues from the new york city banks. back to you. neil: memorial day, after memorial day for traders to return to the floor? charlie: some. some traders marginally, socially distanced. the big banks is later, june-july area, i heard.

neil: well, i'm not back until you're back. if you're not going back, i'm not going back. that will decide what i do. charlie: when was the last time you got a haircut? my mother-in-law is a big fan, obviously. she thinks you're a wonderful guy but she notices your hair is getting long. i can't see you right now. when was the last time you got a haircut? neil: you're on a need-to-know basis. i'm going to put you on that rocket. thank you, my friend. the best in the business, charlie gasparino. in the meantime, we got david lee miller. charlie touched on some of these big new york changes. a lot of the numbers are looking a little more favorable. there are some irregularities. david lee following all of that right now. joins us from manhattan. david lee? reporter: hi, neil. new york's mayor bill deblasio is saying the city is preparing

to reopen as soon as next month. already, under way in some parts of the state is the economic restart. it includes things like manufacturing, construction, as well as retail with curbside pickup. the mayor says the restart in new york city is going to be especially challenging and it is still in the planning stages. he did leave some wiggle room, though, depending on the potential spread of the virus. listenment. >> somewhere between june 1st and june 15th, i'm basing that on everything we know today. today, i will put an asterisk that you won't be surprised on saying, you know, this disease has thrown us a lot of curveballs so we won't rest on laurels or assume we have a crystal ball here. we are basing it on the trend which has been pretty damn consistent. reporter: when -- >> -- many, many more lives. when you think about it in retrospect, the virus is in

china november and december. everybody knows that. we do a china travel ban february 1. the president did it. reporter: okay. little confusing there. that was governor cuomo talking about the early spread of the virus, reports that it was here much earlier than reported. as i was saying, governor cuomo today addressed the remarks by the mayor about the reopening of the city and he said it's going to be driven by seven metrics. he said not opinion, but facts. statewide the governor says all major indicators are trending down. in his words, we got over the mountain figuratively and literally, the number of new covid cases is where it was at the start of the crisis. the latest daily death toll is 105, down seven from the day before. cuomo raised further concern about a virus linked inflammatory disease that has infected 157 kids throughout the state. he said that there are now reports of that disease in 25 states as well as washington,

d.c. and he expressed frustration that information about the virus seems to be constantly changing. he pointed out that initial reports said kids would not be affected and that antibodies were going to protect you from a second bout. lastly, he cautioned new yorkers that this is not going to be the usual memorial day weekend. state beaches would be open but capacity is going to be limited to 50%, social distancing he said must be practiced, masks must be worn when in close proximity to others. his final piece of advice, get there early. he said that he expects the parking lots at the beaches to be full by midmorning. neil? neil: that's probably an understatement. thank you, david lee miller. we heard it from charlie gasparino, trying to get a gauge again from david lee about how many new yorkers eventually do return. there are many companies saying there's no rush here, folks. mastercard indicating that workers can go ahead and continue working from home until the whole virus threat ends.

of course, remember jack dorsey at twitter saying if he had his druthers, if workers want to work from home, they can do so indefinitely. other companies saying much the same. i believe google had delayed plans on building a large corporate facility because it's rethinking the need for, you know, forking over that kind of dough even though it has plenty of dough, given the new environment where so many are working from home. liz peek was on this trend very very early. good shout-out to her. right now, we are going to go to her. you know, liz, it's interesting, you and i touched on this, it is changing the way companies think, isn't it, about do we need to just crowd into big old offices and skyscrapers when in fact, we have been getting a pretty good bang for the buck working from home. where do you see this going? >> well, i think it's going to be mixed but look, studies have shown that productivity actually goes up, sometimes as much as 40%, when people work from home. they don't have on commute,

they're not distracted by office chatter, et cetera. secondly, something that's really important to a lot of companies, i have spoken to two companies very concerned about the cost of office space, particularly in manhattan and other high cost cities. this is a huge expense line. banks, for example, have been trying to reduce that cost by squeezing more people into smaller and smaller cubicles. obviously that doesn't work in the era of covid-19. so there are cost issues here, there is also convenience issues and finally, there are people like stay-at-home moms or sorry, people with small children who really will grasp this opportunity to stay at home, be with their children more and also, if they can manage it, to keep their job. on the flipside, i heard from a senior guy in one of the biggest companies in america, he thinks people are just getting bored with being at home. he thinks people want to come

back to the office. he thinks there's a real drain on the sort of communal productivity and inspiration or creativity, if you will. i think there's some, you know, there's some positives but i think the interesting thing with mastercard was that they were giving people a choice, and i think it's totally understandable why. if fox opened tomorrow and sort of intelligently said okay, we are ready to have everyone come back except for people over 65 or who are overweight or have some underlying health condition, you would have lawsuits flying around like crazy. they haven't done this, you know, indemnification or liability thing that i think is incredibly important at getting people back and absent that, how can you possibly do that. so the companies are going to put on the employees, i think, the responsibility for whether or not they want to be in an office environment. you know, think it's going to be very individual and very tough. neil: you had to mention the

weight thing, didn't you? we will talk about that off-air. kidding. just as you are saying, it's interesting because mark zuckerberg of facebook, i don't know where he's speaking, but he's saying he expects about half his work force, working remotely over the next five to ten years. a lot of technology companies, that's a little more doable than it is for more traditional companies, although not across the board, but again, the latest reminder that this is changing our work site kind of ethos, isn't it? >> exactly right. i think tech companies are very comfortable with this because they are very comfortable with tech. what's really impressive, if there's any positive that's come out of this horror of covid-19, it's that the entire country and perhaps the world has moved forward so rapidly on its embrace of technology of zoom, teleconferencing, et cetera. that wasn't going to happen for a long time. now it has and i think there are

industries like airlines, you know, i'm always wary of saying life will never be the same, but i think this does have an impact pretty long term. there are some industries that will feel that. neil: i definitely think you're right. the proof of the pudding is when i hear my own family say when are you going back, exactly when are you going back? >> get out of the house, dad. neil: great chatting with you again. right. there's the door. don't let it hit you on the way out. a lot more after this. stay with us. we are learning also that these comments that mark zuckerberg was making were to employees. i don't know whether it was an employee-wide event but to employees at facebook, up to half of them could be working from home maybe for yoeears to come. after this. america's oldest lighthouse has weathered many storms. seeing the break in the clouds before anyone else.

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neil: in case you had problems or concerns about the proverbial middle seat, on jetblue you don't have to worry about it. they won't be using it so you don't have to worry about it. anyway, robin hayes with us right now. why did you decide this, robin? >> hi, neil. we, you know, the number one thing we can do at the moment is give people confidence that if they need to fly, that we are going to make it as safe as

anything else they need to do in their lives. neil: jetblue, you don't have to worry about the middle seat, at least through the middle part of the summer, i think the middle of july, he was talking about there. there are going to be changes when you fly and people will be wearing masks at the airport, they will be checking your temp and all that stuff but it's going to be a whole new world when you venture out there. doesn't greg palkott know it from london's heathrow airport. hey, greg. reporter: we are on the eve of a long holiday weekend in the uk, just like you folks in the states. i'm standing in front of heathrow airport and you wouldn't believe it, i'm going to step aside and let my cameraman show you what we are seeing, basically a parking lot for grounded airplanes. we have seen very few takeoffs or landings all due to covid-19. we just spoke to an official at the airport and get this, neil. he says this massive international hub now is doing only 3% capacity and remember,

we are several months into this coronavirus pandemic. countries shutting down their borders, a big factor but today, heathrow airport is launching another effort to get folks flying. thermal screening technology aimed at detecting travelers with temperatures with covid. looking at other innovations, contact-free security, even ultraviolet cleaning of those security trays we deal with. other airports in the past few weeks have been doing their own covid screening. heathrow today, however, is also part of global coordination, common international standards for these health checks. kind of like the standards we see for the anti-terror security checks. take a listen to what a spokesperson for the airlines told us a short time ago. >> we need measures like this alongside others to make sure that passengers feel comfortable, able to -- on their journey but also governments around the world are comfortable to open up borders to allow that kind of travel to start. reporter: airline officials tell

us that these temperature screenings are just one layer of the health checks they got to put in place. in fact, just like the layers and layers of security checks we have been dealing with for years. but it's all about the survival of the passengers and the staff and as your viewers well know, the airline industry. back to you. neil: especially the airline industry. greg, great report. thank you very much. so they park them there, too, just like they do here. a lot more after this, including the protests that are ongoing because we are not undoing fast enough. after this. looks like they picked the wrong getaway driver. they're going to be paying for this for a long time. they will, but with accident forgiveness allstate won't raise your rates just because of an accident, even if it's your fault. cut! sonny. was that good? line! the desert never lies. isn't that what i said? no you were talking about allstate and insurance. i just... when i...

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neil: this all started with charlie gasparino talking about everyone worried about people, you know, leaving the city and very few going back into the city and that's caused problems for folks who are, well, enjoying not being in the city. kristina partsinevelos on a trend that's going to be pretty noteworthy.

kristina? kristina: yeah. some big city residents might be out for good, whether it's the smaller living spaces, the dense population, the crowded subways. a lot of these city dwellers are worried about their post-covid future, especially for their childr children, which is why there's been a slew of inquiries about enrollment in rural areas. take a listen. >> the hamptons are an example as are the connecticut relocations and into upstate new york that mirror how people will be dispersing out of cities and looking outside to relocate to rural areas. kristina: here in new york city, parents are worried about whether school is going to start in the fall, are you going to have it online, is it going to be staggered schedules, one day off, one day on in order to keep desks separated as well as buses half empty. i spoke to one mother who doesn't want to go on camera and

she pays roughly $55,000 for a private school here in manhattan. she said later today, her daughter has a zoom interview with a school in north carolina. new york city is no longer a safe option. you are also seeing smaller districts like southampton, sag harbor, receiving inquiries from parents to enroll their children. i spoke with the head of advancement at the private school called rock school in east hampton. she said she's already enrolled 20 new york city students and is expecting a 50% drop in international boarders and the tuition for the school ranges from $22,000 to $45,000. listen in. >> it's also very sad for me that these families have to completely uproot themselves and move from new york city out to the hamptons. kristina: it's not clear yet if the city dwellers are going to pull the plug for good, but they

are certainly making the first few steps. neil? neil: that's wild. all right, thank you very very much. kristina partsinevelos. well, if you have been gleaning from reports like that and elsewhere, you heard from charlie gasparino and david lee miller, a host of others, the trend seems to be that this will be a slow kind of change for the economy as we slowly get back to work in all 50 states, sort of unwinding a lot of provisions that have been in effect for the better part of a couple of months. chris hogan is with us, gary b. smith on what we have to see. the biggest adjustment will be for those who needed work and got work getting back, whether they are going to be relieved and there are going to be enough of them to make a difference in the economy. could be a long wait, right? >> well, it really could. here's the reality. we have had all the governors have had autonomy on their plan and what they were going to do. there's no uniform process for

this. this pandemic is very real. but you and i both know that people definitely need to be safe and take precautions but we've got to get back to work. it's time for people to get out to be able to provide for themselves as well as their families so in order for this economy to get jump-started, businesses need to open. neil: so you know, lily, i'm wondering about that from the businesses that need to open, let's say you are lucky enough that you have been working from home and haven't lost your job, you haven't lost your propensity to spend because of amazon, and walmart online, if sales are any indication or target online sales are any indication, it's pretty strong. i'm wondering where you see this going for the economy. >> well, i am a business owner and i did receive the ppp which is helping for eight weeks, but here's the catch. even if we reopen, some of the unemployment benefits, for example, are more generous than

job offers that some business owners are willing or able to put forward. so people may not even be motivated to come back to work. i have anecdotal evidence from people that have told me already that folks are declining new jobs because of that premise. so in the autonomy that every state has, that speed to reopen or not is going to impact our ability to keep people on payroll or rehire at all, and it may be now for florida but who knows what it would be for us here in new york city. so it's a wild guess and very different from town to town. neil: you know, the language we're hearing out of federal reserve officials, gary b., is that this might be a late 2021 development before we kind of find our footing here. but that it will get better, the quarter in is the worst of it, i know it's a fool's game to try

to gauge that, but it gets better and better after that. do you buy that consensus? >> i don't, but i'm on the more positive side. i guess you expect me to say it's going to be worse than that. lily comes up with i think the key point. i heard a restaurant owner interviewed the other day and he said when are you going to open, and he goes when my workers' unemployment benefits stop, because she's exactly right. but once they stop, say that goes, you know, two weeks longer than he's ready to open and he can't open, i think the economy is going to boom. i think it's all going to depend on how liberal the governors and local officials are in opening up their states. i know here in florida, things are ready to sprout. as soon as they open the beaches, they were jammed. people can't wait to get out into the restaurants. as soon as the businesses, assuming, by the way, they can last that long, they can pay

their lease, they can pay their electric, they can pay the refrigeration costs as an example in restaurants, i think we are going to be ready to charge. people say oh, my gosh, is it going to extend long and i get it because you look at some of those impending unemployment numbers of over 20%, you think oh, my gosh, this time it's different. i don't agree. i think this could be a v-shaped recovery. neil: interesting. chris, how do you advise people who might be concerned about their own job security? of course, you advise them don't overspend, don't go nuts, but for a good subset of the population, i believe one out of four restaurants we are told will never reopen. how do you advise them in this phase we are going through now? >> i think it's really important, if you are concerned for your job, you want to be proactive, not reactive. so i would definitely update the resume, start to put down your job skills, get it there but also, reach out and let people know in your circle. let family members know you are

looking for a job. let co-workers and peers know. as we find out, it's not so much about what you know, what jobs, it's about who you know. i want people to cast a wide net and don't be too proud to start with something. it's so much easier to find a job when you have one. so be intentional, be proactive and get some money coming in for you and your family. neil: i tell people i know, gary b., and it doesn't move the needle. i don't know why that is. joking. i'm joking. you know, lily, for women, too, particularly for minority women, there's a disproportionate lag here. i'm wondering why that is and why that still remains the case. >> you know, it's a fascinating trend to watch. a lot of people may not realize but women entrepreneurs are the fastest growing segment in america, creating new businesses at a rate of five to one, but in addition to that, minority women are also -- and minorities in general are the engine for new

business creation. however, a lot of us, myself included, i came here as an immigrant, i don't have long-standing banking relationships and therefore, there was a lower proportion of women and minority-owned businesses that were able to take advantage of the ppp in a timely fashion and maybe by the time second waive cave came in too late and they already had to furlough or close their businesses. there are funds sprouting from the likes of magic johnson and others that are trying to specifically target those that didn't get that benefit, but i think it has to do with, you know, many of us are first-time entrepreneurs, many are first, you know, college educated round of businesses and we are having to kind of wing this stuff on our own and others got the money before those businesses that are going to need it for a long time. neil: gary b., final question to you. you have a very uncanny read of the markets. in this environment, how do you

play it? the market if you think about it has run up pretty far and fast from that quick descent. too fast? what are your thoughts? >> yeah, boy, that's a good question on the too fast. i guess it depends what model you subscribe to. if you are on my model, the v-shaped recovery, there's still some good bargains out there. now, if i am wrong, and as you well know, neil, i have been wrong once or twice in the last 20 years, if it's more of a u shape and we start the drip, drip, drip, then the market is definitely going to come back down. i'm positive so i'm bullish on the market. i think these stocks have run up for a reason. i think you got to pick your players. look, it looks like amazon, walmart, amazon was already well positioned. walmart's adapted. some restaurant chains have adapted. i think if you pick the players going forward that kind of were strong before and boy, they hardly got hit, i think you are going to be in really good shape

market-wise. neil: all right. we shall see. you know, i think it goes without saying, when you look at the way the world is right now, watch what you're spending. bull or bearish times, you yuju got to watch what you're spending, right? >> absolutely right. being in conserve mode is very important. we have to protect our income, be very very aware and be grown up enough to tell some things need to wait. we got to take care of priorities. neil: but you are cheap. you're brilliant but you are cheap. there's got to be a good middle ground there. you are very successful at it. by the way, he will be joining us for a virtual town hall with stuart varney, america works together, next week at 11:00 a.m. very good practical advice about how you get through this and move on as we open up. stay with us. to everyone navigating these uncertain times... whether you're caring for your

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neil: all right. the move right now to support the crackdown on china, we told but state attorneys general trying to extract money from the chinese because they needlessly put this china virus as the president calls it, on us. then there's the move to crack down on chinese companies listed here on american stock exchanges, get them delisted here. in the middle of all of that, congressman mike mccaul of the beautiful state of texas. where is all this going, congressman? obviously we want to crack down on the chinese. i'm sure we keep one eye on that trade deal that looks like it could be pushed back, or at least the results of it pushed back. where are you on this? >> well, i was appointed chairman of the china task force. we will be looking at all these issues in terms of supply chain out of china, medical supplies, technology, advanced semiconductor chips, but with respect to the stock exchange,

it's very odd that there's a carved-out exception for chinese stocks. so while american companies have to comply with this transparency to open their books up, these companies from the chinese communist party are excepted from that. i know there's a bill out of the senate to basically erase that exception so that they would have to be transparent as well. we are also looking at the savings plan, retirement plan for all federal employees, is invested heavily in chinese stocks that support the chinese communist party. neil: do you ever worry, congressman, that you can go too far and the chinese maybe think their debt purchases or, you know, there's mutual destruction? >> well, i think the key here is to, when it comes to critical assets like medical, like semiconductor chips, to pool our

reliance outside of the chinese communist party. i think the problem is that we have become vulnerable like australia now, there is 80% tariff on goods coming from australia. they really put us in a vulnerable spot and i think we need to be more self-reliant as a nation. and the semiconductor chip one is a very good example, where we could actually pull supply chains out and start manufacturing more of these high-grade semiconductor chips right here in the united states, creating more jobs, but also enhancing our national security against what is going to be the most, biggest long-term threat to our national security interests. neil: we will watch it closely, congressman. thank you very much for taking the time. we have a lot of breaking news here. we told you about a number of states that are delaying a lot of provisions about opening up their states. i want you to meet a connecticut barber who said well, that's a cut too far. see what i did there? a cut too far. after this. in my line of work,

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that's a cut too deep for the boutique barbershop owner. jeff, that was not welcome news to you, was it? >> no, not at all. i'm still blown away by someone making the decision two days before we were allowed to open, to give you an example of how that felt, it was like if someone came in and took the food right out of your mouth as soon as you're about to eat. neil: that would be war, if that happened. that would be war if that happened to me. let me ask you, though. this is put back a minimum of one week, two weeks, what are you hearing? >> you know what, it's funny because he's not giving you much in detail. he said possibly june 1st. i was actually inspected by my town today and she said you're all set to go. the governor guidelines that we were given, you have exceeded

them so my town has told me i'm all set to open as soon as the governor says it's okay. neil: have you been tempted, looking at these other salon owners in places like texas and elsewhere that went ahead and opened up, risked, you know, even jail but were allowed to stay open? not everybody, doesn't apply to even most, but are you tempted? >> absolutely. you know, at this point, i'm behind in rent, i need to get some money going. i need the money flow. i'm behind on utilities now. so it's definitely a possibility. my clients, i had to cancel 130 clients that were coming up. everyone knows it's memorial day weekend, people are going to go to the beach, they are tired of their overgrowth at this point. neil: now, what do you do when you do open up for business, hopefully sooner rather than

later? you take all the precautions, you are practicing distancing. will everyone wear masks? how is that going to go? >> yeah, basically everyone has to wear a mask before they come in. it's appointment only. i have been appointment only since i opened up. as soon as someone leaves, i clean up after them, i have lysol, i have disinfecting wipes which i actually had to rush order from ebay and if you go on ebay right now and look up lysol wipes, you can see it's hundreds of dollars. hundreds and hundreds of dollars that i spent preparing myself for this. so don't have any money, spending the money and still, we were put on back hold even though i was prepared. neil: yeah, you sound like it. i also know you have a very loyal client base and you personally have a great reputation. i'm very confident it will work out but i can understand your frustration. hang in there, my friend. >> thank you.

neil: this story plays out across the country again and again and again. people who just want to get back and start making money because they have bills to pay. stay with us.

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be in the works committing $1.2 billion to the pharmaceutical powerhouse astrazeneca. that company's head of global operations will be joining us on the significance of that and what happens now. that is on "your world" at 4:00 p.m. now to charles payne. charles? charles: neil, we'll be watching for sure. big breaking news. also, folks good afternoon. i'm charles payne and this is "making money." breaking at this very moment the market is in tug-of-war between upside momentum and growing geopolitical risk. resolve is the characteristic of this rebound. we'll discuss it. should investors continue to chase the winners or perhaps choose a different approach? huge news on the medical front. the cdc says the coronavirus may not be transmitted wears a mask easily wears a mask we thought and the trump administration continues the big money financing. wait until you hear about the big check, what it means. all the important news and important headlines.