maria: thanks to everybody on the panel this morning. a big shout-out to our newest member of the team, warmest congratulations to our stage manager nat and his wife on their new addition, bella sarah who was born yesterday. welcome to the world, bella. right to you, stuart varney. "varney & company" starts now. stuart: welcome, bella. welcome. i will say good morning to you. good morning, everyone. okay. all right. more bad numbers on the economy, but the market doesn't look to the past. it looks to the future.

evidently investors like what they think they will see. 2.1 million jobless claims reported about a half hour ago. that means 40,740,000 have been thrown out of work in the last ten weeks. big number. yet the economy is contracting at an annual rate now of 5%. that's a big number. and orders for big ticket items absolutely plunged. okay. got all of that. but the dow jones average up nearly 1100 points in the last two days, going up again at the opening bell. we're looking at a gain of over 200 points right now for the dow, and the nasdaq is going to be down, down 80 points. that tells me big tech's having another difficult day. then we have the opening up movement. it's rolling on. vegas and disney have dates for -- it's partial reopening, but they've got the dates for reopening soon. boeing, they're going to restart, wait for it, max jet production. we're not back to normal but we are clearly well into the

reopening phase. now this. watch out, social media. the president's going to sign an executive order today. we do not know the details. but here's the speculation. he will make social media companies responsible for what their users post. at the moment, social media companies are protected from that kind of liability but maybe not in the future. back on the streets of hong kong after beijing okays a new security law. we will show you what's happening as the u.s./china relationship sours even further. this is "varney & company" and we are about to begin. stuart: well, this is the day. in our 11:00 hour, our america works together town hall. first time we have done this on our show. dave ramsay, ken coleman, chris hogan answer your questions and we have a lot of good, smart

questions for them to answer. we also have some special guests lined up as well. that's in our 11:00 hour. let's get straight to your money. the market's going up again this morning, despite all that negative economic news. gary kaltbaum is with us. all right, gary, let's get right at it. you think we are going higher from here. correct? >> i think some areas are. look, every day for weeks we were inundated with what was shutting down. now every day we are inundated with what's opening up and that's what the market's reflecting. there was a big sea change this week. everything that was -- 85% of the market that was held down because nothing was opened up is now on the move. financials, cruise lines, airlines, housing, all popping this week. the repercussion is a lot of money is coming out of tech. we are now in a period where the nasdaq will underperform and the dow types will overperform based on the continuing opening up of

america and every day right now is a better day when we hear news like that. stuart: it's a switch to opportunity, isn't it. you made a lot of money in the big techs and they are all coming down, the money is coming out and going into the smaller beaten down companies. i notice that small caps are up 8% in the last two days. >> yeah. and -- but i also want to mention for me, a big part is the jpmorgan up 10% this week. all the financials are up anywhere between 8% to 12%. that tells me commerce is coming back, capital one financial, discovery financial, those are up almost 10% this week. that's the type of stuff you want to see to tell you that the economy, at least the market believes the economy's coming back. i can tell you just, you know, my little small sampling here, things are back to normal here in central florida except for the tourism which will be in the next month or two slowly but surely. in the cities and in the suburbs, you just see streets are much more busy, the

restaurants are open even though 5 50%, they are working, the department stores are open, malls are open and we are getting back. stuart: our central florida reporter, gary kaltbaum, reporting from central florida. thank you, gary. see you again soon. how about this one. american airlines cutting about 30% of their management and support staff. that would be through voluntary layoffs and retirements. that could switch to involuntary if not enough people actually leave voluntarily. the stock is down 20 cents. american struggled back to $11 a share. amazon, interesting stuff, they are converting 125,000 of their temporary hires into full-time employees. the stock is down this morning. what about boeing? ashley, come into this, please. am i seeing the right thing here, they are restarting production of the max jet? what? ashley: yes. that does kind of make you scratch your head but yes, they are. they say slowly at the beginning

because they have to get their workplace safety measures in place but indeed, the 737 max production will restart. it halted five months ago, in fact, the plane itself has been grounded since march 2018 but it wasn't until december of last year that they decided to actually halt production. this of course after those two fatal crashes. we should point out that the faa has still yet to certify this plane for passenger service. the flight control system was the major problem but investigators have found numerous other glitches, but boeing remains resolute and will continue to make the plane. by the way, they are doing this as they have announced a lot of layoffs. they will lay off 10% of their global work force by the end of this year, about 16,000 workers and notices have already gone out to about 12,000. so an interesting development for boeing. continuing to put faith in the 737 max but it's still not, you know, certified to fly. stuart: but the stock was down to 90 a few weeks ago.

now it's almost 160. what a rebound there. here's another major story that's developing today. at any time, president trump's expected to sign an executive order on social media. come in, lauren. what are we expecting to see in that executive order? lauren: okay. so the president this afternoon is expected to sign this order that gives social media companies protection from liability, that they are not responsible for what users post on their platforms. at the same time, current law right now also gives them power to control or take down or amend or fact-check what people say. so this executive order would strip them potentially of both of those powers. so they would ultimately be more open to lawsuits potentially and not have the power to fact-check. the president tweeting this morning this would be a big day for social media and fairness and as you know, this all started on tuesday when twitter decided to put a little

fact-check symbol on the president's tweets about mail-in voting. stuart: twitter fact-checked something from china, is that accurate? lauren: they sure did. so two tweets that came from a china official that accused the u.s. of starting coronavirus. you see the yellow blurb there, get the facts about covid-19. twitter did not like that so they fact-checked it. the question is, does twitter or any social media company have the ability to fact-check the wild wild west of what is put on the site or do they only choose to fact-check what certain people say. stuart: exactly. that's the question, isn't it. i notice, by the way, that twitter and facebook are significantly lower in early trading, premarket trade today. significantly lower. that's true. look at the big tech names. i'm bringing this up because some silicon valley billionaires are throwing their support and their wallets behind joe biden.

they want to create a digital path for him to the white house. linkedin founder, facebook co-creator, steve jobs' widow, and former google executive eric schmidt. he's the one who helped president obama's re-election. katie pavlich is with us, fox news contributor. i don't get it. why on earth are these big tech socialists and billionaires, why are they getting behind the socialists? >> that's a really good question, stuart, but their strategy here is very interesting. they want to target digital advertising. so in 2016, president trump's campaign really ran roughshod on the clinton campaign in terms of the amount of money they were spending on targeted digital advertising on facebook. brad parscale spent something like $100 million. they have way more money to do that now. they were able to really get into the nuts and bolts of the way social media works to target

the voters that they needed to get president trump elected. so these billionaires now want joe biden to beat president trump and are now going to dump a ton of money into the same kind of platforms to try and get him elected through digital targeting and advertising of the voters they need to get out to the polls in november. stuart: i'm laughing because i just can't -- i just can't get with this. billionaires turning into socialist supporters. blows me away. one more quickly. >> that's how it always is, right? stuart: yes, it is, actually. yes. yes. this is a long-running story here. but joe biden, he says he's going to have his vice presidential pick by august 1st. that seems like a long way away to me. >> yeah. it does seem like a long way away. i guess he has the luxury of time here because he has the pandemic and is still refusing to get out and do anything outside of what he did on memorial day, and august of course is right before the

convention which was moved back to the end of august for the dnc, right before the rnc convention. so he will still have some time to do some major vetting. maybe he will have some time to let this comment that he made on a radio show about blackness and voting for democrats to kind of pass over to give him a little more leeway in terms of who he chooses to be his nominee. amy klobuchar is on the list, kamala harris is on the list, there's a whole bunch of women who he's going to choose from because he promised he would pick a woman so it definitely gives him more vetting but i do think that it is a little bit of a long time for him to be waiting to name his vice presidential pick. stuart: i still have my doubts he will actually be the democrat candidate for the presidency in november. that's just me. >> i think that's a fair thing to say. i think that's a fair thing to say. we'll see. august is a long way away in political time. june is next week. stuart: it's a lifetime. true. katie, thank you very much for being here. always a pleasure. see you soon.

all right. check that market. we are going up for the dow industrials to the tune of about 200 points but down for the nasdaq. technology stocks not doing well today. the first casinos on the strip, vegas, are planning their reopening. it's not going to look and feel the same. i'm just not sure about playing the slots between plexiglass screens and playing craps with only two people round the table. maybe that's just me. we will have the story for you. i'm sure you saw it. the historic spacex launch scrubbed at the last minute because of bad weather. the president was there but the weather killed it. that's a sad story indeed. because that would have been a great day. rescheduled for saturday. no stopping it now. the economy is clearly on the road to recovery. my next guest has data that shows red states growing at a much faster rate than blue states. more after this. you wouldn't accept an incomplete job from anyone else. why accept it from your allergy pills?

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-- unfortunately, we are not going to launch today. you are go for launch scrub. >> we understand and we'll meet you there. stuart: that was a real disappointment. we were all watching, it was called off 15 minutes before the launch. but lauren, are they trying again on saturday? lauren: they will, at 3:22 p.m. on saturday, there's a 60% go chance the weather is favorable for then. if saturday doesn't work, they try again on sunday. but wow, we were so excited to see for the first time in almost a decade american astronauts lifting off on an american vehicle from american soil and well, we'll try again on saturday afternoon. stuart: i wonder if the president will go back to see it again. probably not but i wish he would. lauren: good question. stuart: all right, lauren, thank

you. let me get back to the great reopening and the pace of the reopening and the pace of the comeback for the economy. stephen moore is with us, economist at freedom works. you've got data that shows red states growing at a much faster pace than blue states. democrat states, basically. which have not opened up very much. give me the numbers. >> so what we're seeing is not surprising, i'm sure, to fox business viewers which is that the red states are coming out of this recession much quicker, much more powerfully, than the blue states. i looked at what was happening in four or five big states, i was looking at california, illinois, new york, which obviously are prototypical blue states, then compared them with florida. florida is doing much better, they are starting to get their jobs back, they have suffered much less unemployment than these other states, and stuart, i got to tell you, i'm very

worried not just about those blue states, but also those big blue state cities. i'm worried about what's going to happen to manhattan. i'm worried about what's happening in san francisco. i'm worried about my hometown of chicago, which right now, all three of those major cities are ghost towns. there's no commerce going on whatsoever in those cities, and as you know, they are incredibly important to the national economy. new york, san francisco and chicago, and others, too, detroit, there's no economic activity. so that is going to hamper, in my opinion, this national expansion which we want to see. remember, as cuomo said i believe it was yesterday or the day before, these big blue states account for about 35% of the american economy. stuart: i mean, they will slow us all down. is there some way that the president could put some pressure on these blue states? say come on, open up a bit faster, you're holding us all back? >> well, you know, one of the great things about america is

the system of federalism really does work. i've got to salute the president. he made a very smart decision on letting the states take the lead in terms of what they want to do in reopening their economies so what happened is your viewers know, right out of the gates, these states like florida and georgia and texas and tennessee opened up their economy, they have been open for three or four weeks right now. by the way, those states have had reductions in their death rates and reductions in their hospitalization rates so they are doing better on the health front than the blue states but they are also doing much better than the blue states in terms of their economy but here's the thing. this is putting pressure, stuart, this is putting pressure on new york and california and illinois and michigan and pennsylvania to get open. i've got to say this about gavin newsom. gub novernor of california. he's starting to open up counties in california, too slowly in my opinion but at least he's going in the right direction. where is andrew cuomo? why is new york city still shut

down? stuart: yeah. very good question. we have asked it for a long time. come on, come on, open up a little bit. i'm out of time. you come back soon, please. more of those good numbers. we like it. thank you. >> have a great day. stuart: now, we now know what new york governor cuomo was talking to the president about at the white house yesterday. ashley, it wasn't getting rid of salt, was it? ashley: no. no, he had talked about that before but this was all about infrastructure projects for new york, and new york city and even though new york city is still under lockdown, he had a conversation with the president about reigniting, reopening aggressively with infrastructure projects and he said he had a good conversation with mr. trump. take a listen. >> it was a good conversation. i think the president also acknowledges and realizes that new york, we're very aggressive about getting these projects done and getting them done on

time. i have a shovel in the trunk of my car. we'll start this afternoon. ashley: so which begs the question why does he have a shovel in the back of his car. is that new york politics? no, i'm not going to go there. anyway, he says look, the projects that he would like -- that's new york politics. they have a shovel in the back of the car. he wants to do projects like hudson river tunnel for amtrak, extending second avenue subway and lord saints alive, finishing off in fast fashion laguardia airport refurbishment. bottom line, no, he didn't talk about salt. he talked about infrastructure. guess what, new york city still under lockdown so it's not going to start any time soon, apparently. stuart: i think it was shovel-ready projects that are not actually shovel-ready projects but that's my story. thank you very much. it's not interfered with the futures which are still nicely higher this morning. this is thursday and we will be up about 200 for the dow. nasdaq selloff, though, techs

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stuart: all right. let's get the latest out of hong kong. beijing has approved that national security bill, say

good-bye to what freedoms remained in hong kong. susan, what's the latest? susan: that's right. that's the feeling right now on the streets of hong kong. we talked to many residents there and as you see, the hong kong protests are back in force. so as expected, the rubber stamp parliament in china approving overwhelmingly 2800-1, saying no to this national security bill which will be enacted in hong kong and they say, beijing says this resolution they say is necessary for safeguarding the chinese sovereignty because of these ongoing protests that have lasted for over a year. the human rights and pro-democracy activists and politicians in hong kong say that this really severely undercuts the autonomy hong kong was promised for 50 years after the 1997 handover and we heard from secretary of state mike pompeo yesterday saying that and certifying that hong kong is no longer independent from china, so that paves the way and opens the door to enact the hong kong human rights and democracy act which could include sanctions, financial penalties, higher tariffs, and this could be i

guess labeled on individuals or companies, but it's a sad state of affairs. stuart: it really is. by the way, that video we are running was from yesterday. i don't think we have yet seen the reaction on the streets of the people of hong kong to beijing passing this new security bill. so that's yesterday. we will see what happens today. susan: you know where this is, right? think of this taking place on fifth avenue here in manhattan at lunchtime during a weekday. this is exactly what's taking place in hong kong and it's just extraordinary for people that have visited this city. stuart: we keep saying it but it's true. it's extraordinary stuff. futures, though, not affected by the news from hong kong. we are still looking at a 200 point gain for the dow industrials. as for the big tech names, they have been rallying for much of the pandemic episode, but earlier, market watcher gary kaltbaum said he's bucking that trend. he says big tech has hit a wall. they are no longer moving higher and this morning, premarket,

they are all significantly down. facebook, amazon, apple, microsoft and google. look at mgm. they run a lot of the big resorts on the strip and they are looking to reopen. lauren, next week, i think? lauren: yeah. next week, june 4th. much of vegas will be open, but what are the odds of a socially distanced vegas? i do not know but there is a lot that you can do. okay. so mgm, bellagio, new york new york, mgm grand, wynn, caesars palace, the flamingo, some of the names that will reopening. how will the casinos look different? face masks are recommended, not required, for guests. you will have a temperature check. no valet parking. every other slot machine will be, you know, closed off. there will be plexiglass. no nightclubs but yes, the pools will be open with restrictions on capacity. this is pretty ambitious, if you ask me, the way they are

reopening vegas. there's a lot you can do. stuart: they are reopening next week, albeit i don't know what they will look and feel like but they are reopening. that is the news. that bell that's ringing tells you that the stock market is going to open in literally three or four seconds. it's thursday morning and we are expected to see a lot of green when trading begins. we are off and running and yes, there's plenty of green from the get-go. about three-quarters of the dow 30 have already opened and they are green. they are higher. the dow is up about 200 points. that's roughly .75%. solid gain again, just please remember the dow is up nearly 1100 points in the last two days and now up another 180. the s&p 500, that has opened higher, i believe. yeah, not that much higher. .33%. but the nasdaq, i guarantee it's down. yes, it is. down just a fraction, .15%. but again, technology not doing well. we are going to show you twitter again. they are down today,

anticipating the president signing that social media executive order, all about the legal liability of those companies when it comes to what their users actually post. twitter is down nearly 5%. facebook down, again, their chief executive zuckerberg threw some punches at twitter's jack dorsey over the fact-checking policy. he says social media shouldn't be an arbiter of truth and distanced facebook's policies from twitter's. facebook is down three bucks at $226. two headlines, big ones. boeing says they are going to restart production of the max jet. boeing is up four bucks. american airlines cutting 30% of their work force. they are down 40 cents. ashley, news from the other airlines. ashley: yeah. well, you know, american actually, sticking with american, is joining united in alerting passengers ahead of time if their flight is going to be particularly full. united has a policy that if the flight is more than 70% full,

you can then change your flight if you're not comfortable with that for no added fee. now american is doing exactly the same thing but it's a struggle for airlines. they are trying to fill the planes to get revenue going after a dreadful period of time but at the same time trying to make passengers feel, you know, confident to fly with the planes not totally packed, as we have seen. you are now required to wear masks on planes. that has meant major u.s. carriers are making sure you wear a mask. jetblue we know is leaving the middle seat open unless you are a family traveling together. delta says it's going to add 100 flights in june, just so they can spread out passengers so the planes are not full. these are all measures being taken. it doesn't always help the bottom line for planes if they are turning passengers away. they are just hoping those passengers will go to another flight that's not as full. but the good thing is, the ceo

of american said the first sign of life they are seeing bookings starting to rise. so that is encouraging. stuart: yes, it is. all right. we also have a big win for apple. they beat out netflix for the right to stream a new scorsese movie. tell me more. susan: a new $200 million killing killers of the flower moon directed by scorsese and starring dicaprio and deniro. they also recently signed tom hanks' world war ii drama greyhound. this doesn't necessarily mean you will win an oscar but obviously it increases the credibility for a streaming platform like the irishman for netflix last year. apple hoping it will do the same this year. apple has only been spending $3 billion to $4 billion on content. compared to netflix, which spends $13 billion to $15 billion each and every year and according to bloomberg data, apple tv plus has only signed up

around ten million subscribers so far up until february. compare that to disney plus which has over 50 million in the first three months of their streaming service. some say apple really needs to do some catch-up but it's a different strategy for apple, i should mention to you, because they have 30 plus original shows. they don't have a backlog catalog of old favorites, right. but that's kind of what they want to do right now. just make the originals. stuart: apple is only spending $3 billion to $4 billion on original content. how about that. susan: it's a content war and you have to spend. that's what netflix is doing. they are being rewarded by their share price. stuart: they sure are. look at the overall market. we have lost a good amount of the rally. we were up 200. now we are up 50 points but still above 25,000. the ten-year treasury yield, has that moved much in the last couple weeks? no. this morning it's at .69%. the price of gold, has that moved much in the last couple months? no. you are still at $1740 roughly

for the price of an ounce of gold. oil still above 30 bucks a barrel. now today at $32. none of those indicators have moved that much in the past week. dollar tree, that company says it exceeded its target of hiring 25,000 workers. the store is now planning to open 500 new stores this year. up 9%. gap, i believe they are the biggest winner among the s&p 500 stocks in the last -- since the epidemic began, i think that's the case. up about 28% the last couple of days. kristina partsinevelos, why is gap up so much? kristina: you would think it has to do with a particular catalyst but it has to do with the fact traders are optimistic. as one lpl financial analyst says, it's the dash for trash. a lot of these retail stocks were beaten down throughout the last several months. gap struggling prior to the pandemic and so that's part of the reason we are seeing an

uptick. you are also seeing an increase, slight increase in restaurant bookings, airline bookings so traders are optimistic that maybe consumer spending could start to be permanent as well the fact the administration is looking at cash incentives for those that are unemployed to get back into the work force. those are some of the catalysts. specifically for the retailers. you are also seeing wedbush increase their price target to $10 for gap versus seven bucks. stuart: it made it. tell me also about another winner. i think it's a winner. dollar general. why are they up? kristina: right. you just mentioned dollar tree. dollar general also released their earnings. they had the best sales for this quarter in 14 years, extremely strong. the reason why it's so strong is consumer behavior throughout all of the pandemic. people are shifting to buying things that are more affordable so they are going to u.s. dollar stores and that's why you are seeing such an uptick. they blew it out of the park with their earnings which is why the stock is up today for dollar general. stuart: thanks very much.

let's get to disney. we have been following this story. they are planning to reopen parks in july. but the story this morning, lauren, is they got a downgrade. tell me more about that. lauren: the reason is, the analyst says so much excitement has already been built into the stock waiting for disney springs to reopen and now we have the planned july 11th magic kingdom and animal kingdom reopen but you have to remember, disney has not announced what the capacity will be aside from it being limited. that will depress their ticket sales and they are also spending more money to sanitize and clean and change the way they do busine business. if you look at the past four weeks, disney's stock is up more than 20%. it's down this year but it really had a nice run in anticipation of the announcement yesterday, and now a slight selloff. stuart: all right. but still $120 on walt disney stock as of right now. thanks, everybody. let me show tu markyou the mark again.

we have lost much of the rally. boeing is up. boeing is a dow stock and that is adding 25 points to the dow. if it wasn't for boeing, we would be in negative territory for the dow industrial average. still to come, oh, yes, our virtual town hall with the ramsey team. we will be joined by familiar fox business faces. that's 11:00 eastern this morning. the reopening of the country is in full effect. we are driven by capitalism. that's why businesses are defying those lockdown rules all over the country. i'm going to go at that in my take, coming up next hour. it's a social media showdown. the president is expected to sign an executive order on it amid his feud with twitter chief jack dorsey. facebook's zuckerberg is speaking out. my next guest says this won't end well for twitter. (vo) our communities need help like never before

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stuart: we should point out in the last two days, the dow has gained nearly 1100 points so we have got a modest gain this morning but it's up another 35 points at the moment. united health and boeing, two dow stocks which are helping the dow, but 3m also a dow stock, really hurting it. 3m is down 4%. so you do have some green this morning after a very nice two-day rally. look at the uber, the ride sharers. uber and lyft. are some of the drivers suing governor cuomo? susan: a handful of uber and lyft drivers along with the new york taexi drivers alliance, contending the state is making them wait a long time in order to receive and figure out if they are eligible for unemployment benefits. they say they still haven't heard and they claim the department of labor here in new york state continues to treat them as though they are independent contractors which means the onus is on them to prove what their earnings were instead of just getting it directly from uber and lyft, and

that delays a whole process of being eligible for unemployment benefits. as for gig economy workers, we saw 2.1 million filing for jobless claims in the past week. that kicks it up to 40 million but uber and lyft drivers, some of these gig economy workers, hundreds of thousands of them, say they have not been included in that count and they have only started recently receiving some of these unemployment benefits which have been very generous, by the way, as far as that stimulus package. stuart: these drivers, i think they get a raw deal, because the blue states in particular, new york and california, really do not like the ride sharing companies. they are just going after them. susan: lot of regulations. lot of red tape. also being squeezed with higher taxes as well, so we know there's a congestion charge now here in new york and a lot of other big cities. yeah, being a gig economy worker is tough and it's especially tough in these times. stuart: come on, it's a new industry. encourage it, for heaven's sake. that's my position, anyway. let me check twitter for you. i'm sure it's still down.

down 60 cents. that's it. president trump is expected to sign that executive order today. it might be aimed at making social media companies responsible for what their users post. that would remove a protection they have had for years. jim anderson is with us. he deals with all of this. he's the ceo of social flow. okay. this is speculation, but if the president removes that protection from the social media companies, and allows users, if users post something nasty, then the social media company can be sued, what effect do you think that would have? >> well, stu, i think that would be enormous, right? i think the politics is actually maybe the least of the issue. you are talking about a long-standing protection that's existed effectively since the beginning of the internet, right, and it's widely credited for -- as one of the things that's allowed these platforms to grow. so number one, i'm not sure if an executive order will actually accomplish that. i can imagine litigation and plenty of lobbying and lots of

other things but if it did, i'm not sure that the politics is the most significant issue. it's got significant implications on just sort of how everybody expresses themselves on these online platforms. stuart: yes. look, i think there's going to be some kind of action taken against the social media companies. it may not be as draconian as imposing that kind of liability on them. but listen to what facebook's mark zuckerberg said about twitter fact-checking the president's tweets. roll that tape, please. >> twitter decided for the first time ever to fact-check one of president trump's tweets. i wondered if you thought twitter may have made the wrong decision here. >> we have a different policy i think than twitter on this. i just believe strongly that facebook shouldn't be the arbiter of truth for everything people say online. in general, private companies probably shouldn't be or especially these platform companies shouldn't be in the position of doing that. stuart: all right. jack dorsey, the twitter guy, he in response says look, we will continue to point out incorrect

or disputed information about elections globally, and we will admit to and own any mistakes we make. look, this is complicated stuff, but jim, come into this, please. you are saying that it's not going to end well for twitter. is that right? >> i think it will not, if they continue down this path. you know, part of what you have to wonder is how much of this is a trial balloon, right? they notably added these labels to two tweets that had to do with elections, not the joe scarborough issue, right? that was the issue that was generating a lot more attention and press and outrage. so i think they sort of identified an area, elections, that they think they can test out this policy, see what the reaction is, not just from the president but from the politicians more broadly, and from the public more broadly, and i think while i generally agree with what mark zuckerberg says on this issue, i think it isn't necessarily going to end that well for twitter, they do need to differentiate themselves from facebook a little bit. they are 1/30 the size of facebook and they forget that. they are looking to chart their

own course. in some respects it's not surprising they will stake out a different position than what facebook did. stuart: i'm laughing because i'm just dying to see the twitter people fact-check the tweets from the iranian mullahs. what are they going to do with the iranian mullah tweets? what are they going to do with that? fact-check it? >> this is a really tough topic. the concept of facts, we all would like to believe there are objective facts and there are some, but you know, where we all draw the line about objective facts obviously has a lot to do with our own beliefs and our own background. so i agree with you there. stuart: what a job. thanks very much, jim. by the way, you can watch dana perrino's full interview with mark zuckerberg 2:00 p.m. today on the fox news channel. 2:00 p.m. mark zuckerberg right there. big show ahead. make sure stick around for the 11:00 hour. our virtual town hall, dave ramsey and the team answering your questions. an army veteran and business owner suing north carolina

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carolina is staying open despite the state's lockdown order. the owner is an army veteran and he says he was trusted to serve his country but not to run his own business. the owner is with us. mike, welcome to the program. you are suing the governor on what grounds? >> yeah, thanks for having me, stuart. so we're suing based on the executive orders being unconstitutional. you know, we don't believe that one man should have that much authority. we don't believe that the governor can make legislation and enforce that as well. so we're suing him as well and this isn't just a partisan -- this isn't just a partisan lawsuit. we're also -- we have the house speaker as well as the president of the senate wrapped up in this as well.

so this is a bipartisan lawsuit. stuart: forgive me for asking, have you been served with any kind of cease and desist order, or any order to close it down again? the authorities said anything to you? >> so the alcohol and law enforcement came by our establishment a couple of times. the first time when we had opened back up, they told us hey, we're not going to arrest you for being open, but we are going to -- we're not going to let you serve any alcohol. then a few weeks later, they came back and they gave us a little bit more harassment, saying they had a photo of someone drinking on premise, which you know, we abided by the rule because they said hey, if you don't abide by it, then we are going to go ahead and take your license from you. then like i said, they came back a few weeks later, harassed us some more, then we haven't heard a whole lot from them recently. stuart: before we leave you, i just want to straighten something out. when i saw the headline patriot

axe throwing, forgive me, but i thought it was like a circus act, you know, where you chuck knives and axes at a board that rotates with a young lady sitting on it but it's not that, is it? >> no, sir. stuart: what do you do? stand there and chuck an axe at a target? is that it? drink a lot of beer? >> yeah, exactly. you can see the targets behind me here. we have games that you can play, we have targets you can throw at of different terrorists like osama bin laden, things like that. you just come up here, you pay your money, you can have a cold beer while you throw some axes. it's a great time. stuart: how much for an hour? >> it's $15 per person per hour. stuart: that's not bad. you could have a lot of fun with that. >> oh, yeah. we have great times. great beer prices, too. stuart: i knew you would. look, mike, we wish you the very best of luck with the axe throwing and the lawsuit and we

hope you can come again and see us soon. tell us how that lawsuit works out. good stuff. >> oh, yeah. thank you. i appreciate the opportunity. stuart: sure thing. see you again soon. all right. going to remind you, in about an hour we have the first ever virtual town hall on this program. we are answering your questions. we have a lot of questions from you and we going to answer them. i say this. there is no stopping this economy now. it's clearly on the road to recovery. this is america. we believe in capitalism, right? animal spirits. that's why we have a revolt against the lockdown. you will get all of that in my take, which is next. (music)

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so you can... retire better. stuart: 10:00 eastern time the markets open and slightly higher. the dow is up 60, s&p up five. tiny loss for the nasdaq composite. earlier this morning 2.1 million more new unemployment claims. that brings the total so 40,740,000 in the last 10 weeks. that's a big number. the first quarter gdp, i should say, that has been revised to a contraction rate of 5%. so it is revised down, even more after contraction than we were expecting there. and we just received the latest read on pending home sales. that number looks to the future, susan. what have you got? susan: worries than anticipated by the housing market. h a decline of 21.8% in the

april. economists were looking for something closer to 15%. march was down 20.8%. that was a steepest drop we've seen in a decade. this is getting worse. forward indicator on the housing market. i would argue we've seen a rackable comeback in real estate. look at mortgage applications. we're only down 1 1/2% this week compared to last year. that is coming up a monthly loss of 35% four weeks ago. some say there ask better insulation in housing than expected. stuart: maybe pending home sales really don't looks toward the future. i probably got that wrong. and they're down sharply as you can see on the banner across the bottom of the screen. this is ashley's favorite time of the week. mortgage rates. ashley: oh, yeah. stuart: go. ashley: truly savoring it today, stu, because the 30 year fixed-rate for freddie mac coming in this week at 3.15%. that is the lowest rate in the

near 50 year history of the survey. last week by the way, purchase demand says freddy was up 8% year-over-year. don't forget back in mid-april purchase demand was down 35% year-over-year. so we really are to susan's point seeing a nice recovery in the housing market. by the way the refi market still going strong. the average size after loan that is refinancing is down $70,000, which mean as broader base of borrowers are taking advantage of these really low rates. 3.15% for a 30 years figured loan. stuart: shall we tell everybody back in the day, it was 12% for me in the 1970s and 16% for you in the 1980s? ashley: it was, end of '70s, beginning of '80s, 3% it blows your mind a little bit. stuart: 3.15%. good heavens.

that made your day, ash. ashley: did it, thank you. stuart: we have rock and roll coming for you. virtual town hall with the ramsey guys starts at 11:00 this morning this is rock and roll and it involves you because you sent in your questions and we'll read them for you. all right, now this, there really is no stopping it now. the economy is clearly on the road to recovery. okay, true, the numbers for april and may are terrible but that is looking into the rear view mirror. all 50 states relaxed their restrictions. they will all move through phases one, two, and three, until at some point you can wear a mask, keep a distant, do pretty much what you like. go to work, spend money, and it started. i will repeat it is hard to see this economy going into reverse again. this is america. it's vast continent. it has always been driven by the animal spirits of company tallism. that is why businesses across the country are opening in

defiance of the lockdown rules. we're not europeans who meekly bow to the bureaucratic elites. we're not communist china living in fear of the politburo. no. we're driving, shopping, flying, even booking cruises again. soon you will see some very different economic numbers and in a few moments you will see president obama, repeat, president obama's top economist. he is going to tell us how strong the numbers are going to be. jason furman coming up. do not assume that because we're itching for growth that we're callous. we're all aware that 100,000 people have died because of covid-19. and we are aware of the vulnerability of the elderly and those with underlying conditions. as dan heninger rights today in the "wall street journal" the u.s. is willing to shut down for three months but that's about it. dan will join us shortly. the mood in the media is always one of anxiety. they hate the president and use

the virus to undermine his re-election. but that is not the mood of the country, not as i see it. where the new yorkers or michiganers californians, clamoring, keep the lockdown in place, lock me down please? i don't see that. i see the opposite. what i do see is america busting out all over. wait for it, i'm going to quote bob dylan. come congressman, senators heed to the call, don't stand in the doorway, don't block up the hall, he that gets hurt but he who has stalled. there is a battle outside and it is raining. it will soon shake your windows and rattle your walls, for the times they are a changing. i was singing that as a kid in the '60s. now i'm an old guy singing it in the 2020s. here is a fine american who does not remember the '60s. his name is pete hegseth. >> i read about it somewhere, stuart. stuart: stop it, stop it. i know you're with me. there is no turning back.

the revolt is in place. we are going back to work and taking this economy upward and onward. that's where we are. >> 100%. that is exactly where we are. you have the pulse of the people yet again, stuart. we're not europeans. we're entrepreneurs. we're individualistic. we want to provide for our families. we don't want the government to do it for us. that is why you see the revolt of the gym owners, restaurant owners, salon owners. right before memorial day it started getting big. you have the vacation week, holiday weekend. now heading into summer businesses need revenue, tourism, activity. i hope you start to see even more of the collective will of businesses to move together. this won't be solved in the courts. there are challenges in the courts. that's good. ultimately this is with we the people stepping forward we're open. that creates a trickle effect for confidence and consumers who return. it is a cycle that feeds itself. part of the problem, most of the

media, you talk about morning and california, the media is in the middle of it. so they're focused on themselves and obsessed with themselves and they're missing the rest of the country that says it is not affecting us the way it is there. let us reopen. hopefully everyone will be reopen soon. we're in the mercy after middle a media in the middle of it. stuart: listen what economist steve moore said on the show a couple minutes ago. roll tape, please. >> the red states are coming out of this recession much quicker, much more powerfully than the blue states. i'm very worried, not just about those blue states, but also those big blue state cities. i'm worried what will happen to manhattan. i'm worried what is happening in san francisco. i'm worried about my hometown in chicago. right now all 3:00 of those major cities are ghost towns. stuart: pete, he is right. i think the pressure is really,

really extreme on the chicagos, new yorks, los angeles of this world? >> you wonder if this is the catalyst for what was already naturally occurring in that you had wealthy taxpayers and others saying why would i stay in a state that taxes me additional 10% when i go to florida, or texas, now seems like the right time to make the move? next step, stuart. you're reporting on it, businesses making that same calculation. that is not just individuals. that is businesses saying i'm out of here if this is the kind of reaction my governor and my hair is going to have. you look over at red states who respected virus, protected the people who deserved to be protected but respected individual citizens and citizens to be responsible with their choices. that's freedom. that's america. the contrast is glaringly clear. in california they say we can't reopen until we find a cure? what regular person resonates with that idea. stuart: that to me just doesn't

make any sense. pete, we'll you're here, can you give us an update on that new jersey gym that defied the lockdown orders, they opened up. then they got closed down again. now i believe they're suing. what is the update, please? >> they're suing governor murphy. they're filing in federal court saying constitutional and state rights have been completely decimated. that they have been deemed non-essential versus essential workers. they can do it better than the big box stores. i've been in touch with these guys. here is what the state did though. they snuck in on friday night, changed the locks to their gym before the long weekend. they didn't just padlock the gym. they stole locks of private business and put state locks, that they could not reopen that is the premise of ongoing challenge. ian and frank want to reopen their gym. they can do it better than most stores open right now. i think they have been a model for responsible civil disobedience. they motivate ad lot of other people and towns, businesses are told, you're not essential. they looked them in the eye of

course we are. we look to them and customers be here. i will con contin to follow thi. they're hoping to get a stay on the locks so they can open up again. we're following this closely. they are making a constitutional argument they essential as in else in the lockdown state of new jersey, i think they have a good case. we're following like you. thank you, pete. >> got it. stuart: change of subject. talk about the theme parks. disney world announcing plans to reopen. safety measures include this, contactless payments, mobile ordering, temperature screening, face coverings will be required. that's disney. this could pave the way how we visit theme parks or amusement parks i should say. that is the way it is going to be done probably. we have grady trimble. he is at a six flags park in illinois. they're still closed i think, grady. reporter: they are, yes. six flags announced it is opening one its locations in

oklahoma on june 5th. at that location you will see a lot of changes there you just mentioned. before guests even arrive they have to watch a safety video. ii want to it to you, it outlins a lot of safety measures we see across the board at other theme parks. they have to macon line reservations so the park can limit capacity. once they arrive their temperature is checked by thermal cameras. once they're in the park, they will have to wear masks and all employees will wear masks as well. there are no dates set for six flag locations other than the ones in oklahoma. that is something we're waiting on. seaworld getting approved yesterday to reopen i believe in june. ceo of that company, telling maria bartiromo this morning he believes there is pent-up demand for these parks. >> our surveys tell us people are sank schuss to get out. i think you've seen that across the country. people want to come to have a good time at theme parks. we can do it in a safe manner. we've been operating our parks for decades. reporter: interestingly, you

mentioned disney. it is actually opening quite a bit later than the other people parks are. july 11th for animal kingdom and magic kingdom in orlando. we still don't know about disneyland. one of the hold-ups here in illinois theme parks are not included until some later phases of reopenings which is when large gatherings are accepted that would be aways away. they're trying to work with state and local governments to reopen again. that is the challenge they're facing here and likely in california as well. stuart. stuart: grady, that is a good view how things will open up at the amusement parks. very interesting indeed. thanks, grady. the first las vegas casinos will reopen on june the 4th. lauren, can you tell me which ones? lauren: three mgm properties, bellagio, new york, new york, mgm grand, wynn, caesars palace and some others. i'm going through what you can and cannot do.

you can gamble. you can go to the bar, not nightclub. go to a pool, a mall. cannot go to the nightclub or eat at buffets. all those all-you-can-eat buffet s are closed. they are limited number of people at gambling tables to three or four people depending of the game. they might raise minimum bet to make more money with all the capacity restrictions, gambling is one of the few vices i don't actually have. tell me about a casino owner giving away free flights to vegas? lauren: i know, casino owner is giving away free flights to vegas. american airlines and some other airlines are increasing number of flights that go to vegas. so more people can actually attend but the casino opener, owner that is giving away those flights is derek stevens.

he, just looking for this information, i'm sorry. stuart. stuart: doesn't really matter so long as i know somebody is giving away free flights to get to vegas. lauren: 1000 free flights from 20 major cities, they're trying to open back up. did you know before coronavirus three million visitors went to vegas each month? that is lot of revenue they're losing. stuart: great to see them opening up, getting back to business again. i think that is a positive sign. it is like disney and all the rest of them. all right. social media, watch out the president is expected to sign an executive order today on the social media companies. will they be held responsible for what their users post? that is the speculation. that's interesting. president trump wants to bring our troops home by election day from afghanistan. we have got more on that story coming up. i believe that is what the president wants. a top obama economist predict

we'll see the best jobs and growth numbers ever ahead of the election. he is a democrat. i will ask him what kind of numbers he is looking at. more good news this morning, look at this, a 103-year-old woman in massachusetts beat the virus, celebrates with a bud light. bud light says her next beer is on them, good. ♪. guys! guys! safe drivers save 40%!!! safe drivers save 40%! safe drivers save 40%!!! that's safe drivers save 40%. it is, that's safe drivers save 40%. - he's right there. - it's him! safe drivers do save 40%. click or call for a quote today. from anyone else. so why accept it from your allergy pills? flonase relieves your worst symptoms which most pills don't. get all-in-one allergy relief for 24 hours, with flonase.

stuart: i'm seeing a lot of green this morning. yeah i'm seeing it. 36 up for the dow, but not much. we were up nearly 1100 the last few days. even nasdaq is turning around. big tech is doing a little better now.

american airlines cutting management and support staff to the tune of 30%. the stock is down on that. it has had a nice run recently. going they will restart production of the max jet shortly and that's pretty good. they're up five bucks. 3.6%. 155 on boeing. look at roche and gilead sciences. they have teamed up for late-stage trial of two drugs. they hope to create a new treatment for the virus. both stocks up nicely. another two million people joined the unemployment line last week that brings the total number of unemployment claims in the past 10 weeks to just around 40, just over 40 million. that is a big number. jason furman, harvard professor, and top economist for former president obama joins us now. jason, welcome to the program. you're the first democrat we've had on in years. welcome. always good to see you, sir. great to see you. >> we'll see if i'm the last. stuart: you will not be the last, i promise you that.

you talked about, very publicly, you talked about seeing the best economic numbers ever by the fall. without getting into the politics of this, what kind of numbers on employment and growth are you expecting? >> we'll have an abysmal growth number for q2. stuart: yep. >> then we'll go down so far that we'll bounce part way back and so, q3 i would expect to be double-digit growth and a couple of the months in the fall, you know, more than a million jobs a month created. all of that will still leave us in a very deep hole. stuart: sure. >> but we'll be moving part way out of that hole. stuart: i believe you kind of warned democrats to watch out for this, be aware of this because it will look good for the president come the november election. i think you issued that kind of warning, didn't you? >> i didn't issue a warning. i did my diagnosis where the economy is going.

my biggest fear people will glom on to positive numbers, miss how deep of a hole we're in, and not take policy steps that would put the economy in better shape on election day in november, better shape for next year and the likes. things like investing in state and local governments, making sure we don't go off the cliff where unemployment benefits go away entirely after july and the like. i think complacency would be a mistake t would actually mean end up having a worse economy than we could otherwise have had. stuart: i heard some people talk about in the second quarter, a dip in the economy to the tune of 30, maybe even 35%. i mean a radical decline. is it going it be that bad? >> yeah. most of the estimates are like 35 or 40%. that is at an annual rate. that represents a shutdown of economic activity. a lot of that was, you know, related to lockdowns.

a lot was related to consumer behavior. you look at people in georgia cut their consumption back just as much as people in new york and they still cut it back just as much. so a lot of this is not the lockdown, it's the virus and the virus hit the economy. it hit the economy very, very hard. stuart: do you think we need another stimulus or rescue plan, call it what you like but do you think we need another one in the near future? >> absolutely we need one. i think last one was pretty good. and it, a lot of it expires at the end of july. stuart: yep. >> you know, that means we'll hit another hole. the economy will be making progress but we'll still have, white house has said they expect double-digit unemployment on election day. double-digit unemployment is not a time to say, you know, we've done our work, we can move on. it is a time to double down and do another very substantial and ambitious stimulus package. stuart: i just want to ask you

about the federal reserve pumping, i don't know the exact number, something like six trillion dollars being pumped out into the economy. that is an enormous number. that presumably will have a significant effect just down the road, right? >> the fed can have some effect but monetary policy is limited because interest rates are close to zero when all of this began. so a lot of what they're trying to do is prevent a deterioration in credit markets, prevent a financial crisis but to actually help people and help the economy, you really need congress, and that's something fed chair jay powell is saying as well. we don't want to rely on the fed to handle all of this. they cannot do it on their own. congress really needs to do another round. stuart: jason furman, that was a real pleasure having you on the show. please don't be a stranger in the future. we like to see a big smile. we got one right there. jason, come see us again real

soon, if you will, lease. >> okay, thank you. stuart: got a deal. thanks very much. got another jobs story for you, everyone. summer jobs, lauren, i think they're gone, aren't they? how does a teenager find a summer job this summer? lauren: not sure they can. teen unemployment last month was 32% and the up shot of that is, that the teenagers go back on the parents payroll which is already strained. nearly 41 million americans out of work since lockdown began, right. so what do teens typically do? they work at lifeguards at pool clubs. many are closed. kadys at golf courses. cannot do that these days. babysitting, parents are watching their own budgets, we're home anyway. we don't need a babysitter. recent report for college juniors and seniors, 30% had their internship which could be paying completely canceled. for teenagers major life moments happening right now whether

graduation or internship or your first job, that's gone. i feel really bad for them. stuart: so do i, summer job, getting out of high school, whatever it is, that summer job is very important to a lot of people, first work experience. what a shame they can't get those jobs. thanks, lauren. you did see it this weekend big time. a lot of crowds getting out of the house. a lot of them defying social distancing orders. our next guest says the locksdown has reached its expiration date. people are no longer willing to stay put. he is our guest, dan henninger. we're less than an hour away from the "america works together town hall, ramsey people. we answer your questions. we are about 34 minutes away. don't miss it, please.

♪ ♪ don't give up ♪ i know you can see ♪ all the world and the mess that we're making ♪ ♪ can't give up and hope ♪ god will intercede ♪ come on back

♪ imagine that we could get it together ♪

stuart: market has been open exactly one hour. i see some green. it is not a huge rally but it is green. the dow is up about 60 points as we speak. remind you one more time, the town hall, virtual town hall begins in a half hour. we are beginning to hear from new york city mayor de blasio on

the virus. what's, new york city is still very much locked down, ash. what's the news on the virus? ashley: it is, it is, but the mayor is starting to talk about reopening but let me get to this stat first. bill de blasio, the mayor, saying number of people testing positive in new york city he says now is just 6%. it is very good day, very positive, he says. maybe not best turn of phrase. reopening of the new york city is expects first couple weeks of june. mayor estimated 200 to 400,000 new yorkers will go back to work in phase one. those businesses that would reopen include manufacturing, construction, wholesale suppliers and non-essential retail. so signs of life. first couple of weeks of june, somewhere in that time frame, for a city the size of new york, 200,000 to 400,000 probably not

a massive amount of people, but certainly a sign of you know, progression. stuart: these cities, new york in particular, under enormous pressure because of what's happened to the city. you know, yesterday, we're running these shots of sixth avenue, still did he certificated after two months. still good news from the mayor. from "the wall street journal" after the coronavirus apocalypse, u.s. is willing to shut down for about three months but that's about it. i couldn't agree more. dan henninger wrote it, and he joins with us now. i do agree with you, dan, the pressure to get out, we're americans, you can't keep us locked down forever! that is it what you're saying, isn't it? >> that is essentially what i'm saying, stuart and i think i would begin by suggesting that your previous guest, jason furman, the former economic advisor to president obama,

mr. fuhrman made a critically important point which was that the virus's effects on the country, new york we know about. there are 29,000 people have died in the state of new york but the economic effects as he noted have been felt equally. georgia has suffered as much as new york relatively speaking. all 50 states under the threat of the virus three months ago shut down their economies but the crucial thing here, people have not experienced the coronavirus in the same way. whereas have have been 29,000 deaths in new york, there have been something like 700 in missouri. let me try to put that in a little bit of perspective. on a per 100,000 population basis you have about 157 deaths in new york per 100,000 population. in california, the number is 10. in florida is has been 10 per 100,000. in the state of texas it is

five. what you have a lot of americans out there, stuart, who did lock down their economies, not felt, not experienced the virus the same way that new york and new jersey have and those places are beginning to insist it is time for them to reopen their businesses. stuart: there is no going back, is there? there is no we have a second wave or increasing cases so we're locking down all over again. i don't think that is possible, do you? >> i don't think it is possible. we shall see as it goes forward. it is possible there will be more infections going into the fall, perhaps. we have to protect vulnerable populations, people in nursing homes, older people. the factor remains in most states, including new york, hospital capacity is reform alizeing. so if there is an uptick infections and indeed covid admissions it looks like the system will be able to handle it without locking down our economy again.

stuart: you know, i think there is a political angle here because i think that democrat governors, especially in illinois, california, new york, new jersey, the democrats all, they're all locked down. i think they're under great pressure to start opening up or else. real political pressure on them. what do you say? >> yeah. and especially in new york, we had this extraordinary sequence of events this week in which a coalition of 300 small businesses have been shut down. nail parlors, restaurants, jewelry stores, said that tuesday of this week they were reopening no matter what. they could not survive if they didn't reopen. mayor de blasio yesterday on wednesday announced he will zick the police on them. send the police in to shut them down. this sounds like nicaragua rather than new york. even here in new york people say

they can no longer survive if their businesses remain shut down. the political leadership in those blue states had to come to grips with that reality. stuart: they do. it is thursday. dan is on the show. thanks for joining us again, dan. appreciate it. see you soon. president trump is expected to sign an executive order today aimed at social media companies. do we know negative about this possible, likely executive order, lauren? lauren: it would modify or change, stuart, a long-standing law that protects social media companies from liability for what users post and also gives them the ability to police a lot of what is posted. white house press secretary kayleigh mcenany just talking about this exact topic. listen. >> twitter wants this to be the standard. they get to quote, fact check the president of the united states in untruthful way, not fact check chinese propaganda until we pointed it out and they

started doing it moments ago. we don't get to ask who the fact-checkers are. that is untenable proposition an unfair proposition. we will ask who the fact-checkers are. lauren: all this started as kayleigh just said on tuesday when twitter decided to fact check something president trump said. the president is hitting back. dana perino had a chance to sit down with facebook ceo mark zuckerberg. she asked him are you on the same page as jack dorsey of twitter? here is what he said. essentially mark zuckerberg said, no we're not. we don't consider facebook to the arbiter of truth. so now we're in this situation where the president and many republicans are saying anti-conservative voices are silenced on social media and they want to make changes to prevent that from happening especially as we're months away from the november election,

stuart. stuart: by the way, see the full interview, dana perino with mark zuckerberg. that is at 2:00 on the fox news channel this afternoon. i think i will call this, yes i will call this a sign of hope for sports fans. a major nfl team given the go-ahead to start practicing. not the same story for a different league however. we'll bring you up to league on all the sports in a moment. president trump looking to fulfill a campaign promise bringing our troops home from afghanistan. we're going to discuss that next. >> we're there 19 years. we want to bring our soldiers back home. we want to bring them back home. i just love hitting the open road and telling people that liberty mutual customizes your insurance, so you only pay for what you need!

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♪ ♪ ♪ ♪ stuart: can we get ashley up on the screen. that is the market. this is important stuff. put ashley on double shot. ashley, this news is for you and i. i will ask viewers to bear with us. english premier soccer starts up

june 17th, according to the bbc. i a smile. give me a smile. ashley: good. thank god. [laughter]. stuart: all right. thanks, ash. good reaction, thanks very much. ashley: thank you. stuart: dow up 93 points. the s&p is up 13. nasdaq up 45. i see a lot of green this morning. didn't start out that way. let's get back to ash, i hear, neo, the tesla of china is sales are plummeting. tell me more. ashley: sales are down 53%. these are high performance vehicles, the tesla of china as you said. sales down 53% from the fourth quarter. vehicles delivered year-over-year was only down 3.8%. first quarter in the chinese market very difficult indeed. revenue down 52% from the previous quarter. that revenue miss bigger than expected.

although they did narrow their loss from a year ago. so you know, you take your crumbs where you can. they did get an infusion of money from a group of investors at the end of april, about a billion u.s. dollars which will help them. they expect their deliveries in the second quarter to go up 182% year-over-year. it has been a real roller coaster for nio, the tesla of china this pandemic environment. stuart: look at that stock go down 5 1/2% on that news. all right. thanks, ash. president trump wants to bring our troops home from afghanistan by november. roll tape. >> we're there 19 years. we're really not acting as soldiers. we're acting as police and we're not sent over there to be policemen. we want to bring our soldiers back home. we want to bring them back home. can always go back if we have. if we have to go back we'll go back raging. stuart: bring in retired general jack keane. general, what do you say about that, from the military

standpoint, because it sounds like it is a political withdrawal. as a military man, what do you say? >> yeah, the agreement weigh have in place right now prior to the president's statement there that we would bring all of our troops out by one may, we would do that based on a couple of things, stuart. one would be the success of a potential peace negotiation where we actually have a peace agreement, and two, the conditions on the ground. we have never been able to hold a cease-fire for any length of time. that would be a predicate to any kind of withdrawal. to do so now and to do it prior to november, or around that time frame, i think i can speak with some confidence, stuart, for our military commanders that they, they would believe that that would be unnecessary risk to our soldiers and produce casualties in attempting to make that quicker withdrawal and not have

all the measures in place to protect the forces as we withdraw. we're drawing from a theater operation where conflict is going in, conflict is going on, is much tougher than going into a conflict and that is the concern our commanders would have. stuart: in this case politics trumping so to speak the military, that right? >> well, i don't know. i leave that to the president to make that decision as what his motivation is. but you can draw obvious conclusion given before november. still, that is his thoughts. but all i'm concerned about is, immediacy of it, regardless of what that month is associated with and what that would mean. also i would think, it would tell the taliban, unequivocally that we're surrendering. they would claim victory. the peace negotiations would break down almost immediately. that, we will not be be able to make any kind of progress.

i think it would be a huge mistake to do it. stuart: we hear you, general. another item for you. china seemed to be recovering from the virus. they're exercising control over hong kong now. am i right in saying saying thay have also started to pick up military activity in the south china sea? we have a map of it right now. are they picking up the challenge military again? >> very much so. what is happening here, president xi has made a strategic decision to weaponize the covid-19 crisis and dramatically increase the intimidation and the coercion on our allies from japan to malaysia, from australia, to india. and the most visible sign of that is certainly the military aspect of it. and what they are, what they are doing right now, in addition to the other things they have been doing for a number of weeks is they're going to bring both aircraft carriers that they have, they have two. one just newly-built, and put

them together in a major exercise in the vicinity of taiwan and also of the south china sea. the purpose? they want to break the resolve of our allies, stuart, and demonstrate to them that the united states no longer has the status and power it used to have in this region. i don't believe our allies will buy that for a minute because this administration and the military and our government writ large is pushing back on president xi in a very comprehensive manner and certainly the flashpoint and the front line is hong kong. stuart: it never stops, does it? it just does not stop. this rivalry aren't stopping. general, thank you very much indeed. see you again soon, sir. what's the time now? in 12 minutes we start that, "america works together," the virtual town hall. the ramsey team will be with us answering your questions, a lot of good questions to answer as well. elsewhere businesses crying foul, owners fed up with being

locked down. they're seeing for the right to reopen. you heard from one of those businesses just in the last hour. have they got a good case legally? the judge on the revolt next. >> we don't believe that one man should have that much authority. we don't believe that the governor can make legislation and enforce that as well. so we're suing him. (music)

stuart: all major indicators with the dow up nearly 100 points. now this. >> i'm constantly trying to lead americans to fight for their constitutional rights and small business to actually open safely and securely. we don't want any frivolous opening of businesses. we want people to look at their own industry, to actually do their homework. stuart: that was frank trump betty, owner of a new jersey gym. is one of several business owners suing the governor because of the lockdowns. look who is here, judge napolitano. seems they have a pretty strong case. is that accurate? >> its accurate, stuart. you're becoming a lawyer in your senior years. stuart: no, no, don't say it, stop it, stop it, stop it this

minute. >> you have a great understanding of human freedoms, stuart, the human freedom being impaired here is the freedom to enjoy the fruits of your own labors and interference is, a command issued by the governor, not legislation enacted by the legislature. so that the clip thaw ran right before the commercial break in which you quoted one of these young men saying, these are not laws. these are just commands, he's correct. let me tell you how far the government has gone. the government here asked local water company to turn off their water. turns out it is prepaid for. the water company said no. the government asked the electric utility to turn off their electricity. that had been prepaid. so they said no. so then the health department broke into the building and changed the locks. now without a warrant from a judge, and they didn't have one, can't get one, because there is no law that has been violated so no judge will issue a warrant

for a break-in this is breaking and entering under color of law which means it is both a state crime and a federal crime. that is how serious it has gotten in new jersey. stuart: okay. hope we've got time for this. but i understand that a catholic bishop in new jersey was told, you can't say mass, and if you do say mass, we'll cite the priest. give me 20 seconds on that, judge, please. >> catholic, the catholic bishop, retired bishop, still in charge opened up 109 parishes on monday in response to president trump's statement over the weekend that religious worship is essential. on tuesday morning after this was discussed on air, he received a visit from the state police who said, close them down. he closed them down because of the threats. so in new jersey, you can have 100 people at walmart, you can have 50 people at shop right, you can 25 people at mercedes-benz dealer. nobody in a catholic church.

stuart: that is outrageous, judge. yet again we agree, which is extraordinary. napolitano, the judge, thanks for joining us sir. >> you're welcome. stuart: thanks so much. moments away from that, the virtual town hall. we're answering your questions, all kinds of questions, they have been flooding into us. the ramsey team gearing up to answer what you got to ask. we'll be back.

stuart: all right. here we go. we have never seen anything like this virus attack before. worldwide shutdown came suddenly, no warning. now, you know all of this. and you know that america is coming out of it. but how do you come out of it, you personally? if you are running a business, has government help come through? you worried about getting sued? how about your job? need to make a change? you ever going to get back your old job? and what do you do with your savings? other than use them up. on this program, we are cheering on a rapid recovery and we would love to see you take part in it. for two weeks we have been