maria: have a great day, everybody. thanks so much for joining us. mow thanks to dagen, joseph and governor huckabee. see you tomorrow. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. monday, june 1st. our nation is on edge. it's been a weekend of violence in cities across the country. it's left an ugly mood, a lot of anger, a great deal of lawlessness. a week ago, there was universal agreement that the killing of george floyd was an outrage, a grave injustice. now, there is outrage at the destruction so evident in dozens of cities. we have gone from agreement to abject division. this morning, there are allegations that the violence

was orchestrated by groups like antifa. police in some areas report stockpiles of bricks and molotov cocktails stashed ahead of a riot. in new york city, looters reportedly organized in groups to attack high end retailers. they arrived in vehicles with out-of-state plates. our cities already reeling from virus lockdowns have taken another hit. fear and anxiety are the order of the day. that has not translated into the world of money. you are not waking up to any kind of major market selloff. far from it. the dow is going to be down maybe 50, down 9 on the s&p, nasdaq maybe down 50 points as well. that's not a major decline. investors are focusing on china. president trump, while punishing beijing for its role in the virus outbreak, did not start a new trade war. that's considered good news. over the weekend, the crowds headed out of the cities and into the great outdoors, shopping, traveling, eating out. in short, the reopening is

picking up steam. a dozen or so states will open up further as of now, june 1st. less than a mile from where i'm sitting they are clearing up the broken glass from the looters. in washington, over the weekend, the president fired off a few tweets but was otherwise silent. he won't stay quiet for long. investors trying to figure out what all of this means for the economy and yes, for our country. "varney & company" is about to begin. [ chanting ] stuart: there you saw it.

you may not have watched it toefr weekeover the weekend. destruction, looting, protesters ransacking local businesses, many of whom just reopened from a lockdown. just to be met with rocks through the windows and yet, molotov cocktails. 27 states and washington, d.c. have now requested the national guard be either active or on standby. want to bring in our top retail guy, gerald storch, because this is somewhat of a retail story, political story, you got it, but it's retail, too. how about those mom and pops that have been burned out? all across the country in downtowns, i just don't see them coming back, gerald. >> well, it's very difficult. it was an afct of great hope thy were even reopening and the reopening was going well from all accounts. this is really a gut blow. just after all the money that they have lost during the coronavirus shutdowns, this was

their chance. if the objective of some of these people is to create an urban wasteland they are off to a good start. stuart: one of the things we will be talking about this morning is this is another hit for america's big cities. and it is, because i think this riot confined to the cities it just a disaster on top of the lockdown as well. but i don't think it affects the suburbs or the rural areas. am i right? >> well, generally i do think you're right. throughout my retail career, we have worked so hard to get these locations into underserved areas where they need groceries, they need pharmacy, we need these services. it's a great act of pride and hope and joy that these stores have been built in these areas. now to see them looted and burned, it just hurts. stuart: target is a minneapolis-based company. i believe they closed 175 of their stores, that's temporary,

but target will make a comeback, right? >> i'm not worried about the financial wherewithal of the large companies. it's the mom and pops that will suffer. the large companies will close locations. keep in mind, they are all looking to close locations. so if you look down the list and go what do i close first, the one that just burned down might be pretty high on that list. meanwhile, target's going to come back fine. the location which has been on the news is one of target's first location. everyone there is proud of the location. it's going to be rebuilt. it's going to open. target is going to do great. walmart will do great. costco will do great. dollar stores are going to do great. but the problem is the concentration of retailing power in the hands of a few retailers which is already happening, and you have to add amazon to that, will only grow now. these mom and pops in urban areas will not be able to recover from this. stuart: a very very sad story. gerald, thank you for being with

us on an important monday morning. gerald storch. thank you, sir. let's go downtown new york city, where high end fashion spots have been looted. this was overnight. aisha, you believe this was a coordinated looting? tell us. reporter: good morning to you. well, there are definitely people who feel like this was pre-planned, that the looters had a plan of action. it seems like the high end stores are the ones that were looted and it seems like they brought tools with them because take a look behind me. you can see that they used something to rip off the plywood and something to get through the glass here at the montclair store. i want to show you individuvide. police arresting three people and confiscating bags of merchandise from their car which had arizona license plates. now, our crews have seen multiple out-of-state plates overnight, new jersey, pennsylvania, connecticut, and i

want to show you some more video from the looting. hundreds of people swarming into soho. witnesses say they got here as early as 11:00 p.m., garbage bags, vehicles filled with stolen luxury items, some people taking off on city bikes. up until i want to say a little over an hour ago, there were still people walking around this area, sort of grabbing what they could. we even saw some people trying to take shopping bags and hangers. back to you. stuart: thank you very much. that's just an extraordinary story. you were right on the spot for it. thank you very much for joining us this morning. much appreciate it. now i want to go from the east coast to the west coast and concentrate on seattle which has seen its fair share of unrest just in recent days. keith fitz is with us. he's a seattle guy. just for one, we will get to the market in a second. just be our reporter for a second. what does seattle look like this monday morning? >> seattle this monday morning is relatively quiet, stuart.

people seem to be abiding by the curfew. there are still stragglers out and about, as there always are. seattle is constantly on the edges. but for the most part, the city seems to have done a reasonable job. many of the protesters were, in fact, peaceful. it's the recreational violence that is really the part that gets so dangerous. stuart: is it pretty much locked down still? >> you know, it's hard to say this morning. i haven't been out and about. my understanding is that it is pretty quiet all over the place this morning. stuart: okay. can you tell us why we're not seeing a huge sell up on the stock market this morning? >> it speaks to something, mr. storch spoke about it just a moment ago. big corporations are locked into the big markets so the public whichedi liquidity. traders have to bet on the recovery. i think the real impact is going to be the spending. we are not going to see that for a quarter or two as the mom and pops have been burnt out. it's the post-corona slowdown that will get delayed.

there will be an economic impact but traders are already beyond that 60 to 90, even 120 days. stuart: what about the china issue? the president did not open up a new trade war when he was punishing china last week. is that considered a positive? >> very much so, stuart, because that is the really big nasty one. i have been there a long time. i think china will retaliate. the only question is how severe that retaliation is. a quick scan of the chinese news this morning shows the usual social, you know, europe could help avoid a cold war, america's got problems, et cetera, et cetera, so the litany is building. i don't think it's unreasonable for china to begin even threatening nationalization of critical production. apple could potentially be in serious trouble. so could many of the medical manufacturers if they don't skedaddle back to the u.s. stuart: ouch. all right, keith, thank you very much for joining us on a difficult day. always appreciate it.

thanks very much indeed. yes, it is a difficult day. all these negative headlines we've got to report for you. we should focus on the positives and there are plenty of positives. ashley, come into this, please. what is it, 21 states easing lockdowns? does that include minnesota? ashley: it certainly does. on this june 1st, let's try to get some optimism in here. let's begin with minnesota, where bars and restaurants can now reopen, although it has to be outdoor dining only but at least they are open for business. that's critical. barber shops and salons also now open for business. of course, you have to have the safety guidelines in place, but you can start doing business. let's take a look at georgia. public gatherings in georgia, the limits on those have increased from 10 to 25. that's significant. bars, nightclubs are open with restrictions, professional, amateur sports teams can operate under rules and guidelines. very quickly, kentucky, a litany of businesses in kentucky can

reopen including movie theaters, fitness centers, recreational parks, fishing tournaments, auto racing, a very nice array, if you like, of businesses reopening in kentucky. 21 states starting to get the ball rolling. stuart: ashley, we will take it. that's a fact. all right. here's another -- this is another positive. people were actually watching this on tv over the weekend. this is historic. elon musk's spacex and their crew dragon successfully docked at the space station on sunday. two american astronauts, robert behnken and douglas hurley, our first crewed space flight in nine years. take a look at the launch saturday. >> ten, nine, eight, seven, six, five, four, three, two, one. zero. ignition. liftoff as the falcon 9 and crew dragon. go, nasa, go, spacex. godspeed, bob and doug.

>> america has launched. so rises the new era of american space flight. stuart: they docked on the space station as well. the president was there speaking from the kennedy space center. he said, quoting now, the united states has regained our place of prestige as the world leader. elon musk, the man i call the most important executive of our time and i think i'm accurate, he was there. he had a real good time. he said this. america is still the land of opportunity more than any other place, for sure. there is definitely no other country where i could have done this, immigrant or not. good stuff. futures, check them one more time monday morning. we will be down but no huge selloff. dow is off about 60, nasdaq down about 45. the president said the u.s. will designate antifa as a terrorist organization. in our next hour, i will speak with a former antifa member. what does he think of that move? protests erupting overnight

in the capital. fires near the white house and the president had to be put in a bunker. how about that. images of unrest across the count country. my next guest is a business owner whose business was destroyed back then. he says stop the violence. we'll be right back.

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stuart: so far we brought you reports from new york city, we brought you reports in seattle. now i want to go to chicago. the protests there heavy over the weekend. grady trimble is there. show us around. what's it like this morning? reporter: well, it's really interesting to see what's going on this morning, because on the one hand, you have the volunteers coming here with brooms and shovels helping to clean up the broken glass, then on the other hand, we have seen

people still looting. this is just one example of one of the stores that was hit last night. this is a small business, stuart. so this is not a large chain store. tracy here is the owner of this store and sadly here in chicago, businesses were getting ready to reopen on wednesday. tracy, what happens now? >> just going to clean up the pieces. reporter: what goes through your head as you look around this morning? >> just shock. shocked i guess that it could happen to me and trying to figure out where to go from here. reporter: all right. good luck to you, tracy. thank you for your time. stuart, we also have some video we wanted to show you as we watched looters go into a foot locker store and reemerge with bags of what they stole from that store. just another example of what we

have seen here overnight as many peaceful protests have been undermined by looters up and down this part of chicago. another thing to note is the city cut off public transit in the main arteries into downtown so the looting is now focused on suburbs and areas like this that are external from the downtown area. stu? stuart: i got it. grady, we see it. thanks very much indeed. grady trimble. let's get to missouri. hundreds of protesters faced off against the police in kansas city over the weekend. the protests lasted well into the night. it was a strikingly similar situation to the ferguson protest back in 2014. that was over the death of michael brown. i want to bring in the owner of complete auto body and repair in ferguson. curt, your business was destroyed pretty much back in 2014. what's your message to today's protesters? >> well, good morning, stuart. thank you for taking the time.

with going through this just six years ago, it seems like we relive it daily right now. people need to take time and focus on what they can change and fix and by destroying something, that's not going to fix anything. all it's doing is making it worse. we are surrounded by opportunists right now, not people that are believing in the cause. what the cause should be is to make life better. we just came out of an extremely horrible epidemic and we are still fighting that and people aren't even talking about that. but there's still large evil out there. we don't need to keep making it worse by letting opportunists dictate how we run our country. taking over our businesses. stuart: apart from your business, has ferguson itself recovered to any degree in the last six years? >> so the government of ferguson and delwood and surrounding communities have done an excellent job of rebuilding. we put bonds in place and worked really hard to make the community better.

the image that ferguson has on it is completely false. the opportunists that have come in and now destroyed things again is only bringing back the bad memories but the people that live there are strong, and they have fought through and it is a great community. yes, it is thriving. stuart: your position is hey, knock it off, don't do it, is that right? >> absolutely. grow up. you know, these are kids, whatever they are, whatever they think they're doing, all they are doing is causing harm. these poor people, i'm watching stories of people just crying and bawling. we have enough anxiety going on with the fear of the world. we were all supposed to come together and be better, then one incident allows the entire united states to go crazy? it's ridiculous. they need to stay home and let the people take want to go to work, go to work. stuart: curt, thanks for joining us. glad you took time out to do this for us. we appreciate it very much. thank you, sir. >> yes, sir. thank you. stuart: all right. let's get to -- let's go to -- look what you're looking at, left-hand side of the screen. that's just steps from the white

house. fires blazing. i want to bring in fox news' kristin fisher. am i right in saying that the president had to be taken to an underground bunker? reporter: you are right. if you look at those images, you think about what's happening, it's truly remarkable. president trump on friday night, the first night things got really bad right outside the white house, we now know he was moved inside, from the residence inside the white house down to one of the underground bunkers here at the white house. i don't know when the last time was that that had to happen but it certainly has been a very long time. that's a room that's typically reserved for, you know, the possibility of a terrorist attack or something of that nature. the fact that he had to go down there on friday night just shows you how bad it got just right outside the white house. saturday night and sunday night, the protests moved farther away from pennsylvania avenue where the white house is, but they

grew in size and scope. you saw the famous historic church burning, somebody set a fire in the basement of that church within 60 secret service agents were injured, about 12 were taken to the hospital. as i was walking in here this morning you could see all the secret service agents clearing the debris off of their riot shields so really just a remarkable sight to see. as of now, stuart, we don't believe president trump is going to be addressing the nation or speaking to reporters in the very near future but there is going to be a briefing by the white house press secretary set for 2:00 p.m. stuart: look, thank you very much indeed. we appreciate it. good stuff. shocking report. quickly, the market opens in about, what, seven and a half minutes. we will be down about 80 points on the dow industrials. we'll be back with more on that.

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stuart: that's the nike ad on the death of george floyd. basically don't do it is what

they're saying. what are people saying about that ad, ash? ashley: well, i think it's pretty powerful. it says it all. of course, the play on the slogan of nike, nike's slogan we know is just do it. well, please, you know, don't turn your back on racism is the message. don't pretend there's not a problem in america, says nike. don't make any more excuses. so you know, it's a clever play on words and the reaction, to your question, has been pretty positive. again, it is pretty powerful so it is winning praise. stuart: got it. thank you. let's turn to susan and twitter. what have they done about the protest? susan: they have put up black lives matter hash tag on their bio page, we can bring it up. from #donations, silicon valley speaking out over the weekend in support of the protests nationwide. you see here, the hash tag right underneath that twitter headline. then it's not just twitter. we had alphabet and netflix, amazon, disney, at & t all tweeting in support and netflix

saying to be silent is to be complicit. but for twitter, this is a different story, since you are now fact-checking the u.s. president and if you add this hash tag, this also adds more of this bias against -- people pointing to bias and maybe editorializing once again. stuart: sounds like it to me. but that's just my position. let me go to lauren. give me more on what netflix is doing here, please. lauren: they too are in solidarity with the protests for the killing of george floyd, writing to be silent is to be complicit. black lives matter and we have a platform and duty to our black members, employees, creators and talent to speak up. that incident has prompted a statement from netflix, similar ones from hbo max, hulu, amazon prime and the other streaming giants out there. stuart: look, i've got to tell you, ladies and gentlemen, i feel a little more confident about the corporate reaction here if there was something said about looting and anarchy in the

streets and burning churches. maybe that's just me but i would like to see some corporations turn round and say knock that off as well. that's just me, folks. that's just me. all right. the market is about to open. we have five or six seconds left to go. this is monday, june 1st, the start of the second half of 2020. isn't that extraordinary. all that's gone on so far this year and we are only halfway through. here we go. we are off and running and on the down side. it's not a huge selloff. all the news is so negative and yet that is not a major selloff. okay. we are down 70 points. about three-quarters of the dow 30 are in the red but that is not a catastrophic selloff by any means. dow is off, what, about .33%. the s&p, down exactly .33%. the nasdaq composite, that is down about .25%. amazon, check them, please, reducing deliveries in some cities because of the riots. google delaying the release of the android 11 phone because of

the riots. they don't want to celebrate anything right now. alphabet, google is down just a few points there. now let's get to the positive side of the ledger because there is one. eli lilly has begun testing a treatment for the virus. what have we got on that, lauren? lauren: yeah, they sure have. the stock is up a bit here. it's a phase one trial for an antibody treatment so it's given intravenously. it uses a blood sample from someone who recovered from coronavirus and inserts that into the new patient. it basically limits the ability of coronavirus to reproduce. they will have results at the end of the month. this is key because this is a treatment that could prevent coronavirus. think of the elderly, the more vulnerable populations, and it also could treat it. two-fold. have results of phase one end of june. stuart: we are up about 50 cents on eli lilly. show me the casino stocks, please.

this is a big week for vegas. ash, they are beginning to open partially this week, i believe. ashley: yes, they are. it is a big week. june 4th, thursday, casinos can reopen with safety guidelines, of course, in place. we have caesars and flamingo reopening on thursday. h harrah's will reopen saturday on the vegas strip. you can access the slots, go to the game tables, have food and beverage. we all know there will be a lot of safety distancing, all sorts of measures in place. these casinos have been shut for almost three months. massive economic blow, just to be able to talk about them reopening is encouraging indeed. stuart: by the way, you can go into bellagio, if you are in the media, you can go into bellagio take and take a look at how they are separating people out and handling the slots and all the rest of it. bellagio is one of the best, in my opinion, casinos on the

strip. i think we will get tape later on today as to what it's actually going to look like. let's move on to apple. susan, what are we hearing from tim cook? susan: he wrote in a memo to employees over the weekend, tim cook arguably the most powerful ceo in silicon valley, pointing to discrimination in society and pledging more donations to fight injustices. writing in this letter, this memo, saying that i have heard from so many of you that feel afraid, afraid in your communities, afraid in your daily lives and most cruelly of all, afraid in your own skin. apple is donating to equal justice, also matching employee donations two to one in this month. it's not just tim cook. we also heard from uber's dara khosrowshahi, trying to fight injustice across the country and we heard from numerous other companies as well as we just indicated. stuart: honestly, i really would like to hear some corporations

condemn anarchy, destruction and riot. i would really like to hear that. son th susan: we did hear from apple saying they closed numerous of their stores which were newelly reopened, by the way, but saying the health and safety of their employees comes first. stuart: fair enough. one more item on apple. what's the production date or sale date for the new iphone? susan: this is coming from the digitimes, predicting four new iphones to come out later on. they will ramp up production, they sashgs y, in july and augud looking for a release event in october rather than september. this is not a big deal. we have heard from numerous analysts, cowan said october is the interim date, as long as it gets released before the all-important holiday season, immaterial as to the dates but everyone is expecting it this year, four devices. stuart: apple just turned slightly lower in a generally

down market. let me move on to target. they are a minnesota company, i believe. they have announced the closure of 175 stores, that's temporary, but lauren, what's the ceo saying? lauren: okay. the ceo says this. brian cornell, we are a community in pain. that pain is not unique to the twin cities. it extends across america. as a target team, we huddled, consoled, witnessed horrific scenes similar to what's playing out now and wept that not enough is changing. i spoke to target this morning, stuart, and they stand by the statement from friday. i know you are asking why aren't we seeing more companies condemn the looting. you have to imagine that so many companies, big and small, much easier for the big ones, by the way, pivot from responding to coronavir coronavirus, now responding to injustice and the next leg of that is to eventually respond to the looting. i can tell you this. target has until further notice

closed six locations, oakland, california, atlanta, chicago, lake street, minneapolis and a few others, closed until further notice. as they deal with this situation. they are also acting to help the local community, giving workers 14 days paid leave. the point is it's corporate america is responding but there is just so much to respond to right now and health and safe has to come first. stuart: will they reopen those six stores in those six areas where they were burned and looted? that's the key question. that tells you where they are really coming from. lauren, one more thing. we've got the dow turning south to the tune of a half percentage point. give me the big brand names looted this weekend, if i can put it like that. lauren: nike, nordstrom, macy's, the list goes on. just completely ransacked in major cities from seattle to los angeles to chicago over the

weekend. some of this was happening in broad daylight. vehicles driving up and taking the boxes and suitcases of the stolen items. i could add walmart to the list. i also spoke to walmart this morning. they said they are closing several hundred stores because of damage that is quote, severe. stuart: good lord. all right. let's bring everybody up to speed on the market, because we opened literally seven minutes ago. we are now down about .66%, a loss of 154 points. the dow holding well above the 25,000 level. at a time like this, let's check out the ten-year treasury yield. .67%. how about the price of gold, still around, what, $1700 an ounce. $1743. again, not that much change. the price of oil, which really doesn't have much to do with all this rioting, down a buck at $34 a barrel. that's down nearly 3%. all right. the weekend, this weekend,

absolute chaos. i think it's a disastrous setback for america's major cities. they were hit by the pandemic, lockdowns and now this. that's the theme of my take in the next hour. huge hit again for the cities. celebrities under scrutiny for donating money to bail protesters out of jail. joe biden's campaign reportedly doing just that. we've got the story for you. we think it's a crisis for small business on two fronts. the pandemic and the looting. my next guest is the cofounder of square and says we need entrepreneurs now more than ever. yes, sir, we do. we'll be right back. at mercedes-benz, nothing less than world-class

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i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars

of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ stuart: i would imagine that online payment companies like paypal and square will be doing pretty well with this lockdown and pandemic. what are you seeing, susan? susan: i agree. the experts say fwhathat becaus the covid lockdown, consumer trends have been accelerated by three to four years and that's the case for paypal and square.

paypal saw its best april, the best month on record, going back to 2015 ipo. not bad as well for square, because they talked about the cash app service which allows consumers to transfer money between themselves and also trade equities and bitcoin on the platform. they saw $1.3 billion stored on the service now as a result of people also direct depositing their stimulus checks. this is good for the future because you can imagine that consumers will be able to transfer money between each other, also spend on this platform and the cofounder of square, jack dorsey, who also operates twitter, says they will come out of this crisis in a stronger place. stuart: thank you, susan. look who is here with us now. none other than jim mckelvey, cofounder of square. jim joins us now. jim, welcome to the program. great to see you. perfect timing here. >> thank you. good morning. stuart: look, it seems to me this is a real crisis time for small businesses, the kind of people that you are actually working with and catering to.

it seems like this is the worst possible time to be an entrepreneur. who would want to start a new business at times like this? how do you see it? >> well, so i use the ancient definition of the word entrepreneur. i don't mean entrepreneur as somebody who is just running a business, because business these days really being hurt. but entrepreneur in its original definition which was a hundred years ago, meant somebody who was doing something radically different. in times of chaos, it's easier to do things that are truly unique. stuart: you are doing well, i take it. your stock is up this morning in an otherwise down market. susan li just told us you've got, what, $1.3 billion stored on your cash app, is that accurate? what does that mean? >> so we have a bunch of tools that are connecting people to people and merchants to people and people to merchants. we have this thing called the cash app which is absolutely wonderful. it's a little app you can put on

your phone that allows you to trade money, store money, spend money, collect money, and do it electronically. one of the big problems we have seen with the stimulus packages is that they haven't been able to reach the smallest businesses and individuals, and the cash app helps do that. stuart: are you a modern day bank for the little guy? >> we have some services that are bank-like. a lot of the things you want to do is just know where your money is, have it in a safe place and be able to invest and use it. the cash app does all those things. stuart: your cofounder, the ceo of square, is jack dorsey. you're smiling. jack dorsey -- >> jack is really busy. stuart: no, no, what i'm getting at is jack dorsey has censured or fact-checked the president, and yet he's now running the logo for black lives matter on

twitter. what's going on? >> you know, i really don't have anything to do with twitter. i work on square and i love the fact that jack has two companies, but i only have one. stuart: you don't want to go anywhere near this, do you? >> yeah, you know, i honestly don't know what's happening. i have opinions but they are all uninformed so why spout them out. stuart: i was going to give you a platform for it. >> thank you. i appreciate that. i know it's fun for ratings. stuart: no, no, this is not a ratings, believe me. one last thing. i have never used a payment system outside the bank. i have never done that. are you telling me that all i've got to do is get your app on this phone right here and i'm in business? i can transfer money to my executive producer if i want to, to -- >> absolutely. stuart: to a business if i want to? easy as that? >> i can pay you while we're on air right now.

if you have the app up i can send you ten bucks. stuart: i'm not allowed to do that. >> if you want to have fun today, download the cash app and play with it. it's just a hell of a lot of fun and super easy to use. stuart: if you're not careful, i will do that. watch up for me popping up on your screen. >> i will give you five bucks. stuart: i'm not allowed to do that. realize that, i'm not allowed to do that on television. >> then you need to give me five bucks. stuart: i might do that. that was a pleasure. that was real good stuff. we appreciate you being with us. nice to hear about these products. >> always a pleasure. happy any time. stuart: sure thing. thank you. i want to draw your attention to the market. we have come all the way back, literally seconds ago we were down way over, what, about 130, 140 points. what was the low? okay. producer was telling me it's 30 seconds to the tease. nothing to do with the market. we are down 30 points on the market as we speak. now, wait until you see what our rivals and enemies are

saying about america throughout all this nasty weekend. they are trolling our state department for heaven's sake. we will tell you all about it. first, though, we will talk virtual reality, helping people see the world while stuck at home. our next guest was able to show his son the space launch the day it was delayed. that's virtual reality for you. we'll be back. when you say what you're in the mood for,

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stuart: as we told you, we got a turn-around for the market. we got some new numbers on the manufacturing sector. the number, i will give it to you, 39.8. anything below 50 is a contraction, but that was not as big a contraction as it might have been in may. the market rallied a little, down 13 points on the dow. then we have virtual reality that allows people to see the world while you're trapped at home. you can't go to cape canaveral for the sfapacex launch, that's fine. put on some goggles and you can be there actually hitting the launch button yourself, so i'm told. bring in vr guy benjamin greta. okay. let me start with this. i hear that you let your 6-year-old son watch the space launch even though it was canceled and delayed and he was able to hit the launch button using virtual reality.

now, that turns on the world of vr to me. tell me all about it. >> absolutely. my son was super bummed when due to weather delays the space shuttle or spacex couldn't launch, so he was sitting there on the couch and keep in mind he's 6 years old so that bottom lip was starting to come out and getting ready to pout. before he knew what happened, i hopped off the couch, went and grabbed my oculus quest and by the way, oculus, fantastic product, love you guys, i went and grabbed it, downloaded the application and he was able to put the goggles on and see the rocket come out of the ground, had the launch control right in front of him and he was able to press that launch button and watch it go up into the sky. he must have done that for a solid hour. stuart: i wish i knew about you with my grandchildren. but that's another story. your sales, what is it, up, what, virtual reality sales, up 80%? just during the virus lockdown? >> correct.

approximately, at least on our side, about 80%. that's simply due to companies realizing that covid-19 has made it almost impossible to get all their staff together and train properly. so with our experience and with our product, we are able to take a person who is in new york city, one who is in hawaii, one who is in dallas, and put them all in the same exact virtual reality landscape at the same exact time and if you were in one headset and i was on the other, i could pick up an item, hand it to you and you could work with that item as if we were standing right next to each other. stuart: i've got to wear the goggles for this? >> you do have to wear the goggles for that, correct. stuart: that's not a problem except i get a little seasick but that's another story. go ahead. >> we have actually gotten away from different ways of getting through that. there are different goggles coming out. this is virtual and augmented reality glasses. this is what apple and samsung

eventually will hopefully release, but looks like mattgate kind of beat them to it. stuart: you are techtura solutions. if i go to you, i can hook into these kind of group meetings with my little goggles, is that right? >> absolutely. stuart: how much you going to charge me? >> it depend on the kind of content that you want. we have done things as low as $7500 all the way up to half a million dollars. stuart: i didn't realize you had that kind of price tag involved there. okay. ben, that really was intriguing. please give our best regards to your son. that sounded like a pretty good idea. >> thank you so much. i really appreciate it. stuart: sure thing. see you later. thank you. president trump, he is going after antifa and other far left groups. antifa will now be recognized as a terrorist group. we have a former member of the group. he says he's thankful the president is taking that kind of

action. and this weekend, another, in my opinion here, my opinion, a disastrous setback for our cities. first the lockdown, now the riots. i will go at that in my take, which is next. it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. . . ah, they're getting so smart. choose the app that fits your investing style. ♪

stuart: coming up 10:00 eastern time. market open for half hour. here is the way things stand a fractional loss for the dow. we're down two points. the nasdaq is up 18 points.

tiny fractional loss for the s&p. all of this, that is not a major sell-off by my means, despite another night of violent riots across this great country. that is what is happening. the market shrugging. we're keeping an eye on the white house where the president will meet with attorney general bill barr that is later in the hour. we received numbers from manufacturing. what do you have susan. susan: ism manufacturing index for themont of may a leading indicator. 43.1 is the number we got. most economists expected 43.5. it is a lift from ina. it shows things are getting better. we saw closer to 41.5. factory activity still contracting and declining in the month of may at a slower pace. that confirms we saw 15 minutes ago, lifting from the stock market, coming from the ihs market index, showing

manufacturing still shrinking, close to 39.8. not as bad as the month of april. improvement as we go forward with more states reopening. stuart: that is the point, isn't it? it is not the raw number. it is the trend, the trend towards recovery which is helped the market this morning. let's go to ashley. construction spending what have we got there? ashley: backward looking but down 2.9%. this is more the month of april. we were expecting down 6%. it is down but a lot better than it could have been. beats what we see in may. it was surprise build in march. construction spending down, not by as much as expected. stuart: ash, combination of these two sets of numbers shows a turnaround for the market. we're down ever so slightly, we're up, we're up for the dow as opposed, positive, put it like that. any moment now, joe biden holds his first official in-person

campaign event since the virus pandemic began. we're monitoring this for you. amazon scaling back deliveries in some cities because of the riots. lauren, details, please. lauren: yes, amazon is scaling back deliveries in some cities because of the riots. let me get to my exact information here. they have reduced deliveries, chicago, los angeles, seattle, nashville. they contacted drivers and told them to reroute themselves. they say we're monitoring the situation closely n a handful of cities we adjusted routes or scaled back typical delivery operations to insure safety of our teams. we are just getting the statement right now. stuart: okay. lauren: they have a series of what is called flex drivers. they can sign up immediately on an app to deliver for amazon. those were some of the ones that were told to either reroute or stop delivering. stuart: good stuff, lauren. i see amazon's stock in a pretty flat to slightly higher market

amazon's stock is up over 1%. that is $26 by the way, $2467 a share. that's amazon. now everyone, now this. another disasterous setback for america's cities, chicago, new york, los angeles, still on others locked down, hit with riots and cure fews, maybe more virus infections. looters were not wearing masks and mobs get real close together. how many office workers will return after staying home for months? if you're working at home in the suburbs or the country there are familiar stores and restaurants nearby, easy and pleasant access. not so in the cities. many are burned out or broke and will not be coming back ever. that is the fabric of city life radically changed.

employers thinking twice about getting back to full office staffing. of course they are. technology makes working from home very productive. if an employer can cut back on big city office rents, that adds to the profit. money really does talk, you know. paying for damage, paying for the shutdown, that will be very contentious. taxpayers of florida are not likely enthusiastic about rebuilding minneapolis. and is a bush anites around new york, chicago, los angeles, will not be happy about paying for cities set on fire by their own residents. worst of all is the fear and anxiety, it is there already because of the virus, but now, it is amplified by the riots. before this weekend, there was some hope that the city lockdowns would end soon and the recovery could at least begin. this monday morning that hope has faded. big city mayors are for platitudes. the mayor of new york calls for a light touch with the anarchy.

they failed to get a grip. what a shame. what an outrage. all that energy and genius our cities bring out, crushed by lockdowns and riots. cities and the downtowns across america, they could have made a comeback in just a few short months. now surely, it is a matter of years. i want to take you straight to the streets of new york, now. kristina partsinevelos is out there, looking at the damage for us, all right? what are you seeing, kristina? reporter: this is the sixth morning the cities across the country wake up to the damage unleashed by protesters on residential private, commercial property. i'm in soho manhattan. take a look at this location. it was boarded up yesterday. protesters ripped down the boards, completely looted the entire store. what litters the street now are nothing but, you have a shoe boxes from dolce.

when we got here, crews, three people cleaning up. i thought they worked for dolce. no, they were local residents cleaning up the location. i can set the scene, what it sounds like, sounds like a construction site in soho and broadway. everybody is putting up the wooden planks. it looks like we're preparing for a hurricane that people are worried this will happen again this evening. i want to show you footage we received from a resident of a duane reade in noho. corner of fourth and broadway. he was in his apartment. didn't want to be on camera. you can see from the footage, looters breaking all of the grass window on a duane reade and fourth and broad broadway we'll reveal footage from this morning. we were at that location. completely shattered all around the corner. i passed by that duane reid yesterday. they were boarding it up from the previous night.

they got hit twice, completely damaged. that seems to be the case. regardless in you have glass, you have wooden planks that go back up, they're vandalized again either with tags or, you have protesters trying to rip it down. it is unfortunate because you have so many businesses across the country opened up like walmart, cvs, apple, those are larger ones. they had to shut back down because of protests. you can understand. you talked about that the anguish, and pain a lot of small business owners are feeling right now. unimaginable. stuart: worse, seems like it was organized looting, well-organized with tools to rip off boards off front of buildings. outrageous. reporter: look how big this is, stu. this is not easy to pull down. stuart: no. they used tools to do it deliberately. kristina. good report right there. president trump is placing plame for the riots in part on antifa and other far left groups. take a look at this.

>> the memory of george floyd is being dishonored by rioters, looters and anarchists. the violence and vandalism is being led by antifa and other radical left-wing groups who are terrorizing the innocent, destroying jobs, hurting businesses and burning down buildings. stuart: then the president tweeted this. the united states of america will be designating antifa as a terrorist organization. moments from now the president will be meeting with attorney general bill barr at the white house. i want to bring in gabriel nodales, a former antifa member. you applaud the president for looking to take this action, designating your former group as a terrorist group. when you were a member what kind of terrorist activities, as you might describe them were you taking part in? >> well, look, antifa is a completely different

organization than even when i was part of it because i attended a lot of protests and lot of different things, never a riot but still definitely some things i don't like to really talk about too much. what we're talking about, antifa is so embowlenned they don't care. if you look around the country, some of the first cities started rioting were chicago, st. paul, minneapolis los angeles, portland where antifa has been allowed to organize last couple years. i'm happy that president trump and his administration is taking antifa threat seriously. i've been calling action like this over a year. last year i wrote an op-ed on foxnews.com, enough is enough. declare antifa domestic terrorist organization. i think this label will finally help us combat antifa where it lives. stuart: do you know for a fact that antifa is not one main group but, sort of an umbrella

organization for lots of other groups, is that accurate? >> that is 100% accurate. a lot of people think antifa is well-organized group, has president, leadership, lieutenants all these things but it is much more complex than that. it is more of a movement and not everybody who is part of antifa necessarily has to wear the black mask to take part in riots. to be part of antifa is really do two things, to fight against, quote, unquote, all fascists and at the same time be willing to do direct action which means meeting them on the street, doxxing them, doing criminal acts for political purpose. antifa's acts are the very definition of domestic terrorism. stuart: do they move around the country? are they capable of moving people from here to there and bricks and molotov cocktails, assembling stockpiles of them? are they capable of doing that? >> i think that they are. as we've seen there are some

reports from the governor of minnesota, he said that a lot of the people in his state were actually coming from surrounding states. so i think that we have a lot of different examples where antifa organizers, activists, now terrorists, they're going from state to state around the country to organize these type of riots. to be fair not everybody in these protests are part of antifa. stuart: sure, no. >> there is a lot of anger going on right now. a lot of it is justified but if you look at some violence it is being instigated by anarchists, antifa activists, not peaceful protesters rightfully angered what happened. stuart: gabriel, thank you very much for sharing this with us. we shall see you again soon. thank you, gabriel. let's get back to the market. i see a turnaround. i see a lot of green. s&p up just two points. that is green pretty much across the screen there. kind of surprising, huh? jason katz is with us. jason, you want to explain this

for us. our viewers are waking up after a weekend of anarchy, rioting, looting, we see the stock market going up. how does that happen? >> good morning, stuart, frankly, last night when i went to bed, i said to myself we're likely to gap down in the morning. so i too need some explanation. i think the fact of the matter is, there was four trillion dollars pulled out of this market in the trough. money supply went up 25%. so you have a lot of underinvested investors who have the fear of missing out. then you have a fair amount of hedge funds that are short. so that's a cocktail for buying of the dip and sustaining of current valuations, in spite of what we're witnessing. stuart: is this most unpopular rally of all time, the rally that we love to hate? >> this is arguably the most hated rally that i have seen in my nearly three decades in the business. last year in studio with you we talked about it all the time, how 30% rally in the face of

relatively meager earnings growth but positive momentum with respect to trade with china, that was a rally people hated. this is the rally everyone loathes. stuart: i'm inclined to come at you, to say, what if we get a second level a second wave of the virus? what if the comeback is relatively slow in the second quarter and the third quarter? what if, what if? do you see any dark cloud on the horizon that could really set us back? >> it is all about second wind or second wave, because, you know, look, if in fact we don't get that second wave, and we continue to have the positive momentum that we've had, not only in terms of the reopening but with respect to data points on vaccines, and on therapies, they were i think we could have some decent upside from here, but look, the protesters over the weekend were shoulder to shoulder. social distancing was not a the

past their lexicon. so all eyes are on second wave as well as the reopening which has been hundreder did as a result of what has gone on over the last few days. stuart: jason, thank you very much for joining us as ever. very important day. we appreciate it, jason. >> my pleasure. stuart: we have a jam-packed hour ahead for you. history made in space, ushering a brand new era, i ask michio kaku what spacex accomplished for the world coming up. president trump meeting with attorney general william barr at the white house. they're looking to crack down on coordinated efforts to ratchet up the violence across the country. if we get details we'll share them very fast. china mocking united states over riots here as they quell their own riots in hong kong. wait until you hear what we're

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stuart: we really did turn around the slight uptrend in manufacturing, it really helped the market. i have green for the dow, green for the s&p, and a 32-point gain for the nasdaq. i have positive news on the vaccine front from various drug companies. let's go through them. start with eli lilly. lauren what are they doing? lauren: this is a treatment, phase one treatment has started for an antibody treatment using a blood sample from a recovered patient. the ceo of eli lilly tells maria bartiromo that is a very strong treatment. listen. >> we take the very best one or two antibodies, and we scale them up into a medicine, off more potent medicine. we already initiated the process to begin production. what we see today we could have

100,000 or more doses available this fall. lauren: we'll get the results at the end of the month. then there is gilead. their remdesivir treatment, the phase three results have been released n a five-day treatment patients receiving remdesivir had a 65% more likely to have improvement at day 11 than the patients who did not receive it. so significant improvement, good news for gilead although the stock is down 4%. finally this is your vaccine news. could moderna be the first vaccine out there? phase two has began for their coronavirus vaccine. hundred patients have been dosed. -- 600 patients have been dosed. goldman sachs very optimistic. they say, the vaccine has a 75% probability of success. $62 for moderna now. goldman sachs puts it at $105 a

share. stuart: do they now? 105 is a big difference from 62. we'll see how that works it. lauren, thank you. president trump says he is cutting ties with the world health organization. watch this. >> china has total control over the world health organization. because they have failed to make the requested and greatly needed reforms we will be today terminating our relationship with the world health organization. stuart: if we terminated, not giving them anymore money what is the next step, susan? where do we go from here? susan: looked like president trump sent the letter 11 days for 30-day grace period. looks like as of friday the 30 day grace period is over. u.s. is one of the largest contributors, $450 million, compared to be china only contributed $85 million. china says they will contribute $2 billion over the next two years. china coming out swinging this

morning. according to right reuters, chinese foreign minister america leaving w.h.o., that america is addicted to quitting. in these covid pandemic times probably more important than ever in terms of finding a vaccine first of all, treatment and also coordinating global response to this ongoing spread but some say look, the w.h.o., including president trump says w.h.o. is so china centric they could have stopped this earlier on, alerted the world earlier but they didn't. stuart: addicted to quitting. them there would be fighting words if you asked me. not a very nice thing to say. by the way, staying on china, officials there trolling our state department. look at this tweet from china's foreign ministry spokesperson. it hayes i can't breathe. okay? that is in response to a tweet from our state department which supported the hong kong protesters. i think it is time we brought in gordon chang, our china watcher

who joins us now. gordon, they're mocking us big time. >> yes, they are. this is part of a malicious disinformation campaign which became especially evident saturday. now this response to morgan ortegas state department spokeswoman is the most mild thing they have done. they have deliberately twisted facts and clearly what they're doing is they're going after the united states. by the way, stuart, we have allowed our information organs of the u.s. government to atrophy. china spends billions of dollars a year on theirs. we're going to have to ramp up. stuart: but the president in his announcement of last week did not reignite a trade war. in fact he did not interfere with the trade agreement we've already got going. would you say that he took a kind of a softer line on the trade deal compared to everything else? >> well he did but you know, that didn't do very much good, stuart because, over the weekend we learned that china has

instructed state enterprises not to buy u.s. agricultural products. so for instance, soy farmers will be affected by this. basically beijing is dishonoring the phase one deal signed january 15th. that leave's president trump's trade policy in disarray at least for the moment. stuart: is that set in concrete, that they will not buy soybeans and other products from our farmers that they said they were going to? >> well it is set in concrete for the moment but they can change their minds immediately. so you know, this is just beijing moving in, testing president trump to see how far they can push him. they have done the same thing with australia. they stopped barley imports, all rest of it. this is part of a broad-based campaign to punish what it sees as critics and clearly they're going not only african berra but washington as well. stuart: gordon, we'll see you

real soon. staying on the subject, headline in the "wall street journal," dictators smell blood in the air. turkey, iran, china want to exploit america's racial unrest. we've dealt with china. ashley, tell us about iran and turkey. ashley: let's begin with iran. the ayatollah khamenei taking a very quick break from his again if you're dark skinned in the u.s., you will die in minutes. that is pro from the peace loving ayatollah khamenei. how is that? turkey said this is the kind of unjust order we stand against across the world. this from the guy, stu, who brutally stamps out his political opposition so he doesn't have any. let's not forget what he did to the kurds in syria. it is rich. the wall street editorial board in the op-ed, saying they do smell blood in the water, these

dictatorship countries around the world. they're lining up to take a shot at the u.s. as the unrest continues here. stuart: they certainly are. got that, ashley. thank you. new concerns over a second wave of the virus because of all those protesters gathering without masks and getting real close together. they're in large crowds. should we really be concerned about this? we're asking the question? we're waiting joe biden. he is about to hold his first in-person campaign event with community leaders in wilmington, delaware this morning. any headlines, we'll bring them to you real fast. we'll be back. a slice. a piece. a portion. a chunk. with dollar-based trading you can spend what you want, even on just a slice of a share.

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no condemnation of rioting and looting? susan: no. netflix special media, speak up following nationwide protests we've seen in support of george floyd. duty to our black members, employees, creators and talent. they say to be silent is complicit. black lives matter according to the streaming giant, this tweet on saturday. a lot of big business, not just netflix a lot of silicon valley, we mentioned them, apple, alphabet, microsoft, all speaking up this weekend saying we support finding some sort of a bridge in this racial injustice. stuart: but no condemnation of looting and anarchy? susan: think about it, netflix doesn't have any storefronts or physical retailers for them to bear damage. netflix is not a different case. stuart: i agree, i can see the point, i think corporate america should say something about the anarchy on the streets of our

cities. susan: what about nike? nike had a few storefronts damaged in chicago and california, nike they haven't been shy getting tote forefront of some of these social issues. again they were supporting protests taking place across the entire country. so the footwear company posting this minute-long ad if we can bring it up for you, with white tex over a black screen on instagram. it urges people not to turn your bark on racism. be part of the change. for once, don't do it. stuart: i get the point. i would just like to see somebody stand up for america the way it ought to be. i'm not seeing it from american corporations. i find that frankly -- susan: ought to be is term interpreted by different people. are you saying companies that have actual damage, physical damage? stuart: no, any company. susan: can you imagine impact coming from their consumers? stuart: any company. any company in america should stand up and say, that ain't

right. looting, rioting, ain't right. i think we should all say that. that is where i'm coming from. maybe i'm going to become very unpopular with corporate america, i don't know. all right, susan. this will be debated a long time to come, and that's the way it is. i want to talk to you about joe biden. i expect him to say something about the riots today. he may. he is attending his first in-person campaign event since the pandemic. hillary vaughn, come in please. he is attending what, first of all a church event and another virtual event elsewhere, that right? reporter: no. this is the first in-person campaign stop he has had since the coronavirus pandemic forced his campaign to essentially go virtual. he is meeting with black community leaders in wilmington, delaware. we're still waiting to hear directly from vice president joe biden. he has not spoken yet. we have heard a lot from the community leaders giving their thoughts to him, how the situation can really be addressed appropriately and

peacefully while delaware has also dealt with some violent and some peaceful protesting following the death of george floyd. we're waiting to hear from biden t has been a rocky road for the campaign as they have been forced to go off the campaign trail and transition to online only campaigning. biden has had several slip-ups and tech issues while he has tried to hold town halls and still campaign but doing it essentially behind a computer screen. >> now all this stuff about biden's hiding? you know the fact of the matter is it is working pretty well. first of all, you know, i, it was a mistake, number one, and i was smiling when he asked me the question. i, shouldn't have been such a wise guy. he was being a wise guy and i responded in kind. i'm prepared to say that i have a record of over 40 years and that i'm going to be joe biden.

port period of time stuart, he is not completely logging off. he does have two additional virtual events today, one with mayors around the country and a virtual fund-raiser on-line tonight. this is the first in-person campaign event doesn't mean he is completely out there. he is still staying and holding some events online. stuart? stuart: i got it. some events online but that one is in person. hillary, good stuff. now if democrats win in november i expect to see higher taxes all around. i want to bring in raul powell, former glg hedge fund manager. welcome back to the show. good to have you on again. >> good to be here, stuart. stuart: we are told joe biden wants to raise taxes on the 1%, income taxes, would raise the corporate tax back from 21 to 28%. if that happens, he puts in those kind of tax increases what do you think happens to the stock market?

>> look i'm not sure the correlation necessarily between taxes and stock market over time in the short term is probably an issue. i think clearly regulation would be an issue as well. i think the market would have to start worry about a different set of second quarter -- circumstances if the democrats got elected in november. tax rate has to go up to any extent because the amount of spending gone on during the pandemic. this is a very difficult situation. i don't know what the republicans would do either forward without trying to raise some revenues to plug some of the gaps of this very costly episode. stuart: see you're not sure what the impact will be on the stock market, but if you raise corporate taxes, you raise top individual income inners taxes, what does that do to the economy? >> yes. i mean it slows down the economy significantly unless it is offset by fiscal stimulus elsewhere. i mean that's, that is going to

be a general plank. it will make people more cautious how they spend money going forward. of course it has a big effect on the economy overall. again depends on the fiscal side as well what would offset any of that if that were the case. and how that plays out. who gets that money. stuart: how would you assess the political risk of putting money into the stock market right now? >> look going into a very hotly-contested election always make stocks volatile but overall i find that the stock market tenders to concentrate overall on thes about cycle and then the politics. we concentrate on politics because it gets everybody hot under the collar. the reality, companies do what companies do and you're paying for earnings from the company overall. i try to distance the economics and politics. obviously there are times when the two worlds collide. for example, with trade tariffs. that is a classic example politics is driving economics of

china and issues it has. stuart: what would you say to the following, and i've only got 30 seconds, trump wins, economy strengthens, market goes up? biden wins, economy does knot strengthen, stocks go down what do you say to that? >> i say, possible but you know, we've seen through both democrats and republican parties the stock market go up. so i think there is less after correlation than we'd like it to be. it will affect larger parts of some corporate america, however, and that's a key thing. stuart: okay. raul, thanks for joining us. appreciate it. i love the british accents. we sound like the bbc if we're not careful. >> exactly. stuart: see you soon. >> see ya, twitter fact-checking presidential tweets but who is fact-checking ceo jack dorcy inaccurate tweets? more on that in a moment. next american ingenuity

making history again. reknowned physician physicist michio kaku on this weekend's significant achievement of space travel. >> it is great to get the united states back in the crude launch business and we're just really clad to be on board this magnificent complex.

>> we use the international space station to commercialize lower earth orbit in general. we're compounding pharmaceuticals you can't do in the gravity well of earth. we're advancing materials. we're proving we can print humoring against in 3d in space in a way you can't do on earth. in the gravity well on that's right will go flat. in space the tissue gross in three dimensions. stuart: isn't that interesting? that is nasa administrator jim

bridenstine on the show. it is fascinating what you can do in space. we have michio cac cue, professor of fist i cans and humanity. always good to see you. >> glad to be on the show. stuart: you can tell us what we can do in space. can i go with the big picture. when are we going to plant a flag on mars? >> well 2024, write that down on your calendar, that is when we expect to see the first men and women walk on the surface of the moon once again. after that we'll have a lunar orbit orbiting the moon. then 2030 or so, on to mars. mars is definitely on the agenda. stuart: what role do these three billionaires, jeff bezos, richard branson, elon musk, they have got to the money. they have got a space venture of

their own. what role do they play as we move towards walking on mars? >> well, first of all, they're giving as you vision. you know, during the '60s we had a vision, beat the russians, beat the russians. and after we beat the russians we lost interest in outer space. it was simply too expensive. elon musk, however, wants us to become a multi-planet species. jeff jays bows on the other hand wants to convert the earth a celestial garden where heavy polluting industry will be in outer space. space tourism wants to put mom and dad in orbit around the earth. we have a new vision. nasa used to be criticized as the agency going no where. now we're going somewhere. stuart: it is commercial exploretation or is it it. >> it is.

it costs $10,000 to put anything in orbit. that is your weight in gold. imagine your body solid gold. it costs $85 million for one seat on the soyuz space capsule this is unsustainable. that is where the reusable booster rockets of elon musk come in. we're going to drive down the cost of stays travel by a factor of two, maybe five. stuart: are we now returning to the position of where we are making the waves, we are making the running in space again? >> yes, i hope so. back in 1966 at the height of the apollo space program that moon program consumed 5% of the entire federal budget. think of that. that is unsustainable. and sure enough the moon program collapsed. now we have a second try. a second try to go to the moon because costs are dropping because we have competition with boeing and spacex competing and

also with rockets becoming reusable. stuart: look at tesla's stock go this morning, up another 5 1/2%. michio, professor, thanks for joining us this morning. don't be a stranger. we love to hear this stuff. come back soon please. >> okay, i will. stuart: check the overall market because it is all green now. we started off in the red slightly. now we're up 70 for the dow. five for the s&p. 36 for the nasdaq. lots of green out there. twitter is fact-checking president trump's tweets but the same is not view for incorrect tweets by the company's ceo jack dorsey. susan tell me more. susan: over weekend jack dorsey ceo retweeted st. paul mayor melvin carter incorrect statement every person arrested on friday night in minneapolis were out of town. most arrested had minnesota addresses.

the criticism came, once you open pandora's box fact-checking president trump's mail-in and shielding minneapolis tweets from the public. you will get it when you say you're opening the door to possibly hypocritical performance and that includes dorsey's which, you know, a lot of people say, look if you're going to fact check and shield president trump peace tweets you should do it for other global leaders around the world endorsing violence as well. that includes the ayatollah, which calls for armed resistance and the destruction of israel. and other global leaders as well, including those from turkey and around the world. so you know, the pandora's box is opening. can't put the genie back in the bottle. stuart: i was going to say that. he opened pandora's box and you can't close that thing up again. all right, thanks, susan. governors ignoring complaints from business owners desperate to reopen from the lockdown, now supporting demonstrators. a double standard, maybe? the judge will rule on that one.

new concerns over a second wave of virus. thousands have been gathering in these protests. should we be concerned? will they set off the second wave? they may. we'll be back. [squawks] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ unlike ordinary wmemory supplementsr? neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. memory, focus, accuracy, learning, and concentration. try neuriva for 30 days and see the difference. leading armies to battle?, was that your great-aunt, keeping armies alive? drafting the plans. taking the pictures. was it your family members? who flew. who fixed. who fought.

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stuart: green across the board. that's the story of the morning. we're up 45 on the dow, 30 on the nasdaq. i see green. all right, coty, that is the cosmetics company, well they are going to sell the hair business and the market loves that. look at that. up 19%. i don't have anymore details but they're selling their hair business and the stock is up nearly 20% now. we spent months on the lockdown trying to help stop the spread of the virus but over the weekend there were massive crowds out and about. of course there were those rioters in very close contact with each other. dr. marc siegel joins us again. tell me, doctor, i see bars and tone. i think we'll get him up sooner or later. there he is. he can hear the good doctor in my ear. is there really a worry now about a second wave because of these riots? >> stuart, not exactly a second wave but i am concerned about areas where there is a lot of

covid-19 already, like in minneapolis and several ever these cities where people congregating could clearly spread it. don't think the mayors and governors handing out masks will change anything. if you're close together and you're spitting on people and you have covid-19 you can spread it. i bet that constitutional scholar who is coming up next will have a field day with the first amendment here because whatever happened to our public health officials having a consistent message, stuart? mayors and governors saying you can't go to church, you can't sit 25% of the church being filled like mayor jacob frey said. now suddenly they're not worried about another first amendment issue, right to congregate but you can congregate close together and violate public health safety here. it is unbelievable, how our public health officials are being inagainous and not effective in a consistent message. here is a effective message, if there is covid-19 around you cannot allow people to

congregate close together and spark another outbreak. stuart: let's bring in the constitutional scholar, otherwise known as judge andrew napolitano. do you see a double standard here between the treatment of the rioters and ordinary folks? >> well, good morning, stuart, there shouldn't be politics involved in either of these. both have to do with profound issues of human safety. of course there is a double standard. right in new york city, one of the people arrested last night gave as their address gracie mansion. that is the mayor's house. it was his daughter. so it's not a surprise that there is a political sympathy on the part of very left mayors like we have in new york city with the demonstrators. i'm not suggesting for a moment that there is sympathy with the rioters or for the destruction of property and the impairment of life, but there is certainly sympathy for the political argument behind those who have come to demonstrate peacefully.

how it ends, i don't know. stuart: but rioters are in separate camp, totally separate camp as far as i'm concerned. >> yes, the rioters are in a separate camp. without the rioting, the demonstrations are perfectly lawful and utterly protected by the constitution and the police have a duty to protect the demonstrators from those rioters who harmed demonstrators, but once you put rioters in there, whether they're professional agitatetores or just crazy people, then you have criminal elements in the midst of constitutionally-protected behavior. that is a nightmare for the police. stuart: judge napolitano, dr. siegel, gentlemen, thanks for joining us, both of you. violent protests rage on. gone our unity, gone. i will have more on that in a second.

stuart: right there at 11:00 this morning, the market showing a nice healthy show of green all across the board. let's get right to our big story. peaceful protests across the country really morphed into violent riots and looting all across the country in cities from coast to coast. people took to the streets after george floyd, a black man, died in police custody in minneapolis. irm going to show you video here, first of all from san diego. you see it? that is a bank set on fire after rioters broke in. across the country, i'm going to move to philadelphia, a cop car

burned from the inside out. police officers in the city were hit by bricks and molotov cocktails. the national guard has been deployed or is on standby at least in 27 states and washington, d.c. it was a weekend of riots, let's call it what it is, riots from coast to coast and looting in our major cities, and now this. a week ago, the whole country was outraged at the killing of george floyd. there was universal agreement that a grave injustice had been done. the outrage at injustice has turned into outrage at our cities burning. it is monday morning, june 1st, and our unity is gone. replaced by a nation on edge and anger, too. the sight of st. john's church in washington, d.c. on fire betrays the memory of george floyd. according to "christianity to y

today" floyd spent decades mentoring young people. he was a good man. our enemies and rivals around the world are using the weekend violence to shame america. here's a tweet from an account associated with ayatollah khomeini. if you are dark-skinned in the u.s. you can't be sure you'll be alive in the next few minutes. doesn't that make you mad? the chinese government looking at the riots here say they have shown, they had shown restraint in hong kong. not like us. that made me mad, too. perhaps this was to be expected and so was the reaction of trump haters here and abroad. they have jumped on the band wagon. they see another opportunity to embarrass the president and blame him for everything and anything. there are some late developments. the authorities are looking closely at antifa. the president believes they are a domestic terrorist group. there is speculation they turned peaceful protests into riots

deliberately. police have found stockpiles of bricks and molotov cocktails clearly gotten ready to bring violence. but the prevailing feeling i think is sadness. i know a lot of people who would not watch the news over the weekend. they just didn't want to see it. and there's anger, too. anger that for the umpteenth time in the last half century, our cities are burning despite all the efforts made and the money spent with clearing up the broken glass again. this is my adopted country. i don't like seeing it dragged through the mud. america simply does not deserve it. one more item here. campaign staffers for joe biden reportedly donated to a group that pays bail for the protesters. this was in minneapolis. steve cortez is with us. i know you listened to my take, but start with what joe biden's campaign staffers were doing, giving money to help get the rioters frankly out of jail.

what do you make of this? >> it's absolutely outrageous. there's no other way to describe it. this is reporting from reuters, by the way. this doesn't come from some right wing website that over a dozen joe biden campaign staffers publicly bragged on social media about the fact that they are donating to funds to bail out the very criminals who are terrorizing america right now, the vandals, looters and thugs, they are getting not just emotional support and political support from joe biden's staffers but actually financial support. i think we need to call them to task and the candidate to task. does he support the actions of his staffers. if he does not, i think they should be summarily dismissed. otherwise he makes it very clear that he endorses people who are willing to use violence to take political power, willing to attack and assault our police and to make a mockery of our democracy. stuart: i'm waiting for politicians, our leadership, whether it's state governors or city mayors, i'm waiting for

them to say knock it off, stop this, get a grip now, because as i said in my editorial, i think you will agree with this, this is my adopted country and i don't like seeing it dragged through the dirt by rioters. >> oh, amen. you know, you talked about our disunity is only being applauded right now by the very worst people on the planet, the mullahs in tehran, the thugs of the chinese communist party in beijing. when we look internationally i would rather focus, though, on those brave protesters in hong kong who are inspired by america. they waved american flags and sang patriotic american songs, why, well, because we are a beacon for the entire world. but we have to believe in that beacon ourselves. i do think unfortunately, right now in this country, we are reaping a bitter harvest of decades of our most important institutions in terms of education and culture, they have denigrated america and our founding and they have convinced too many young people that

america is some sort of racist and mysogenist hellscape instead of the actual reality which is that yes, we are certainly a very imperfect society but still the most noble political experiment in world history. that's what we need to emphasize. that's what we need to reassert in our country and i believe that these democratic, to your point about the democratic mayors and governors, unfortunately, i hate to be this cynical but i think it's the reality, they really are okay with chaos. they will never admit that, of course, publicly but they right now believe that chaos suits their political ends, particularly as it pertains to taking on donald trump in november. they wrongly believe that the worse the economy is, the more violence there is in the streets, that they can somehow beat president trump and i believe unfortunately that that's one of the reasons that we see such feckless inaction from mayors and governors across the country. stuart: tell it how it is, steve cortez. thanks for joining us this morning. appreciate it. thanks very much. let's go straight to minneapolis.

this all started there. matt flynn from fox news is there. set the scene. what's happening now, matt? reporter: well, we just want to show you some of the extent of damage across this city. right here is one of countless buildings that was looted, set on fire and then suffered water damage. across the street, a very large wells fargo building was lit on fire. you could see it's boarded up and this monday, the restoration has begun. across the street, i want to show you, this is the fifth police precinct building. it was so heavily targeted by rioters that police had to set up that double wall of fencing and barrier on the ground. up top now, there are armed national guard soldiers still protecting this facility because it was so heavily targeted by rioters. last night was another chaotic night here. police say they arrested at least 150 people that blatantly violated the curfew. the governor and law enforcement has become much more revealing about just how shockingly violent the riots were here.

they say they were discovering cars without license plates that were driving around with tinted windows, rocks inside and even weapons, so that they could facilitate the riots. stuart? stuart: what a disgrace. matt, thank you very much indeed, sir. that was minneapolis. let's go west. william lajeunesse joins us. we were going to take you to the west coast are conditions are not quite as bad maybe as minneapolis but certainly bad. let's put it like this. all across this great country, there were riots this past weekend and that in my opinion is an absolute disgrace and does not do justice to the memory of george floyd, who was a christian and a good man. his legacy is not being well represented, put it like that. i'm going to move on. let's check some stocks for you, stock groups. i will start with the airlines. the rioting doesn't matter to them very much. they just want people to get out there and fly and the stocks are up. american airlines, united,

southwest on your screen, all of them on the upside. same story for the cruise lines. norwegian, royal caribbean, carnival cruise line, they had a great week last week. doing well again this week as well. people are booking cruises, at least in the future. amazon, i think that stock is way up again today. yes, it is, $29 higher. $2471. they are cutting back deliveries in certain cities because of the rioting. that's amazon, $2471. tell me more about this, lauren. lauren: yeah. morgan stanley just gave them a $2800 price target, too. amazon says this. we are monitoring the situation closely in a handful of cities. we have adjusted routes or scaled back typical delivery operations to ensure safety. amazon doesn't necessarily have stores but they do have delivery vans and some of those were looted, particularly in santa monica, california. i also want to point out that amazon and target and walmart, these were the stay-at-home

winners. they have done so well during the pandemic. amazon shares are up 32% this year. now this unrest, this looting, this changing the way they do business to respond to the violence, that's a new layer of uncertainty for all companies, even the big ones that have been winners thus far. stuart: well said. you are quite right, too. let's move on to apple. tim cook, ceo tim cook at apple there, now, he's responding to what's been going on over the weekend. what's he doing, susan? susan: sent a memo to employees and this is getting a lot of interest on social media right now. tim cook sending this, talking about the george floyd protests across the country and he says we have always drawn strength from our diversity, welcomed people from every walk of life to our stores around the world and start to build an apple that is inclusive of everybody and announcing donations to equal justice and matching two for one any employee contribution to charity. as for apple stores, numerous ones were shut cross the country. i got in touch with apple this

morning to ask exactly how many. they wouldn't tell me but they say the safety and health of their employees comes first. it seems like most of those that were recently reopened, 100 plus stores across the country, had to be closed on sunday to make sure that everybody's safe, especially in these protest times. stuart: i got it. susan, thank you very much. now, google, netflix, and other companies are showing support for the protesters. tell me more about that, susan. i don't want to get into this argument again, i don't think we are arguing, but i really would like to see some condemnation of rioters. susan: i think it's a branding, a communications, brand communications issue because facebook and snapchat also joining a chorus of companies that say we stand for racial equality. so that's twitter, google, amazon, apple, also walt disney, bob iger and hulu, hbo max, the list goes on and on. uber, dara khosrowshahi making donations over twitter, microsoft, and basically they are saying we stand with equal

justice. are they going to say anything about some of the damage and some of the violence taking place, no, because i think they also have a fiduciary duty to consumers as well and don't want to see their stock price go down in this environment, do they? stuart: no, understood, understood, but for america's sake, somebody should stand up and say this ain't right, looting and rioting ain't right, don't do it because it damages the very people you are supposed to represent. susan: very good point. i greechagree. it's not a good look for the minorities they are trying to protect. this is not a good example for america. stuart: no, it's not. i would like to see it stop. susan, thank you very much indeed. the shutdown, that would be from the virus, okay, that could change the way we work if not forever, then certainly for a long time to come. in a few minutes, we will speak to the ceo of a company that is leaving office buildings. that's interesting. here's a live look at the white house. right now, the president is hosting a teleconference with governors, law enforcement and national security officials on

keeping communities safe. i think that's probably from the rioting. any headlines, we will bring them right to you. look at this. rioters surrounding a fire in lafayette park right outside the white house. people throwing bricks and rocks at the secret service agents. we now know president trump was taken to a white house bunker for protection this weekend. this is america. we'll be right back.

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-- shut down for months because of covid and now how much longer are we out of work and you know, the insurance doesn't cover the blood, the sweat, the tears. the team doesn't have jobs anymore. that location will never get back. so insurance doesn't cover all that. stuart: let me explain why we're

running that. that was the owner of the town talk diner and gastro pub in minneapolis. the business was burned down and looted. they were supposed to open today for curbside service after weeks of being closed. they learned about the destruction by watching it on tv. next case. with all these negative headlines, it's important to focus on some positives and there are positives. specifically, 21 states are easing some lockdown restrictions today. give me the highlights, ash. ashley: i will do that indeed, stu. let's begin with mississippi, where all businesses and nonprofits can reopen today. of course, they must adhere to social distancing guidelines, but very positive for mississippi. how about ohio. wedding receptions finally catering and banquet centers can all now move forward. good news indeed there. in wyoming, sporting events, rodeos and other events, up to

250 spectators allowed to attend. my first job in america was in montana. i got to actually announce a rodeo, me in a ten gallon hat saying here's another horse that doesn't want the cowboy on its back. that was my end of rodeo which i loved every second of. stuart: you made me laugh. on this particular monday morning, that's a very fine thing. well done, young man. well done indeed. all right. now, look, the reopening is gaining steam. we got that. look, i still say this is a very sad morning for america. do you believe that president trump was forced into a bunker over the weekend because of riots around the white house? he saw businesses burning all across the country. senator john barrasso, republican from wyoming, joins us now. sir, i can understand support for peaceful protest. i think that's a good cause. nothing wrong with that. but i want to hear some condemnation of rioting and looting and i'm not hearing it,

sir. >> well, you are going to hear it from me, stuart. the rioting and the looting must stop and it must stop today. these peaceful protests have been hijacked by violent criminals. look, anybody that saw the video of george floyd being murdered has to be heartbroken. but anyone who has seen these videos that you have been showing of this wanton destruction and the rioting and the looting knows that those people have no respect for the law, and then to see the defacement of the lincoln memorial and the world war ii veterans memorial and the burning of the church near the white house know that those are people who do that who are trying to undermine our nation, than must stop. there will be zero tolerance for that sort of behavior, stuart. stuart: well, are the taxpayers of wyoming going to be asked or told you've got to pay to repair

the damage in minneapolis or new york or wherever? you think it's going to come to that? >> well, before we get to that point, let's make sure that it is all stopped and if the president needs the help, make sure the mayors and governors have what they need in terms of national guard, military support, to take this violent criminal element and get them off the streets and put them where they need to be, then the people of wyoming are prepared to pay for that, stuart. stuart: how would you assess the nation's mood? >> well, i think it's very sad. it's a sad day when you take a look at whichever videos you're looking at, you're saddened. you're saddened and heartbroken by the death of a good man at the hands of the police, and you're saddened by looking at the violence and the looting that is happening in our nation by criminal elements who are set to destroy us. so in either way i see great

sadness all across the country. obviously there is always a nation -- we are a nation of hope and opportunity and looking to the better days ahead and we will get there, but today -- actually yesterday was not one of those days, even though it was a day of worship, a day of reopening churches, opportunity and optimism and to see what we saw again last night, the concerns continue. stuart: last word from you on wyoming. i know you are opening up gradually. how's it going? >> well, it is, i was there for the weekend and last week we did memorial day ceremonies in the cemeteries as you just reported. the rodeos are reopening. people are coming out. it's going very well. the opportunities for america and the optimism of america is strong today as it always is in wyoming. stuart: great to see you again, mr. senator. please come see us again real soon. important stuff. >> thank you, stuart. stuart: thank you, mr. senator. now, a few moments ago, i promised you a look at what was

going on on the west coast, santa monica, in particular. we had problems getting through to our reporter there but we got him. william lajeunesse, you know this guy, he's standing by to tell us what he's seeing right now. reporter: stuart, good morning. you can see they are actually putting up boards here, not trusting that we are not going to have a repeat of what you saw yesterday. this is basically a restaurant here, as we are going to move down you can see there's a broken window there. they also put some boards up here but yesterday, stuart, basically the criminal element, these gangs, took over this area. while the police were busy with the protesters about two or three blocks away, they ransacked this street, hitting virtually every business. this is a sunglass store. they cleaned them out. a jewelry store. they knocked that one over, took whatever was inside. then beyond that, they set fire to this sushi restaurant here. they were roving bands of

criminals in automobiles, they ripped the windows with a hammer or trash can, stuffed all the stuff into a car and then hit the next business. in the meantime, the cops here in santa monica, entirely overwhelmed, could not respond, did not respond, so it went on for several hours, hitting a lot of different businesses. across the street, you will find one woman trying to make a stand out front to stop them, they threw m-80s at her, basically threw her out of the way and as keith is looking at now, they went there, came outside with a lot of high end bicycles and hit other businesses, whether it be graffiti or whatever. it happened not just here, it happened in long beach, again, police overwhelmed and outnumbered. the same kind of situation happened, san francisco, the bay area, lot of stores, too many to actually even mention there, that got hit as well. police responded with tear gas, foam slugs and water cannons.

they made a few arrests but nothing compared to the number of people that were involved with hitting these businesses, if you will. the curfew here will begin at 1:00 today to prevent the kind of thing you are seeing in santa monica. 4:00 in los angeles. stuart: 1:00 in the afternoon or 4:00 in los angeles. that's a big deal. so they are really stopping it before it can possibly get started. that's really something. william lajeunesse in the middle of it. reporter: we'll see. stuart: yeah, we'll see. thanks, william. see you later. we just got something from apple. they released brand new numbers showing people in the country are on the move. that's a very important indicator of how our economy is opening up. if people are on the move it's opening up. we will get details in just a moment. apple's stock is up. with the start of june, yeah, this is june 1st, we are getting back to work. some of us, at least. our next guest says this month will be the big test for the economy. more "varney" after this.

stuart: if you are just joining us you may be surprised to see the green on the screen, the dow, s&p and nasdaq all on the upside. we have had a weekend of rioting in our major cities, yet the

market goes up first thing on monday morning. how about that. have a look at apple. we are always looking for indicators that the economy is opening up and people are moving out and about. i think apple provides one of those indicators. tell me more, susan. susan: mobility trends, apple looks at since they operate apple maps. what they are seeing is people are walking and driving more since the depths of the covid-19 outbreak. as you see there, that slide in the middle of march through to april, but it's an uptick right now you are seeing in walking and driving, though public transit is still lagging, down some 62%. we should point out that even though there's a pickup from the bottom, still you have a lot of these transit requests, this mapping request, still roughly down about 100% from what it was just about a year ago. but other trends, you are seeing signs of recovery, hotel bookings, home purchases, air travel once again and restaurant bookings. stuart: look, if you compare to a year ago, of course everything is down. if you compare it to the bottom,

the trough of this slowdown, looking at say late march, early april, there's a clear trend of moving up. while we have you, can you tell us more about apple reopening stores? susan: yes. we just got a statement from apple informing me that 20 stores that were closed on sunday have reopened today. monday. still the majority of stores across the u.s. are still shut given the protests and some of the damage and violence taking place across the country and this is in light of the safety and health of their teams, according to apple. they just reopened about 130 of their apple stores across the country in seven states after being shut in the covid-19 lockdown, but for the safety, only 20 stores have reopened since yesterday. stuart: okay. susan: that's better than what it was yesterday when most stores across america were shut. stuart: you got that right. personal spending, that plunged, what was it, in march and april, really plunged way down there. i want to bring in danielle

dimartino booth. you are the one, i always like to come to you for these indicators that the economy is opening up and we are beginning to expand a little bit more. we've got the good news from apple maps, people are moving around, et cetera, et cetera. do you think that june is going to be the critical month where some of the numbers start to rebound on the upside? >> well, i do think june's going to be the critical month but not because we are going to see rebounding numbers necessarily. we are seeing tremendous rebound, whether you are talking about manufacturing sector here in the united states, it's bounced hard off of its lows, 29 of 31 major global factory indicators that we have seen over the past 24 or so hours, they have bounced off their lows. we will see car sales in america come in tomorrow. they are not going to be 8.6 million on an annualized rates. cox automotive thinks they will be 11.4 million on an annualized rate. we are going to see tremendous amounts of rebound when we see this. the reason i'm looking so hard

at june is i want to know how sustainable and how durable this rebound is going to be. are we going to continue to build off of these levels or are we going to have, as susan was indicating, something that is going to remain a little bit less than what we saw year over year. i'm looking for momentum, stu. stuart: okay. are you comfortable with the dow jones average at 25,400? i mean, are you comfortable with that or do you think we are shaky at that level? >> well, again, i try and stay in the weeds to see where indicators are headed and i continue to be concerned about a second wave of layoffs, whether you are talking over the past few days about deloit and touche, the arizona diamondbacks, stanford university, we are continuing to see higher income type of jobs seeing layoffs and in order for us to have the sustainability, we really are going to have to see these layoff announcements stop happening. stuart: these riots don't help,

do they? >> no. look, you heard one mayor after another across america over the past 48 hours say that we are going to have to slow down our reopening plan. target closed seven stores in chicago alone. target closed 106 stores nationwide. here in dallas, texas, we had terrible riots and looting in our downtown. some of these companies had just been reopened for three days. can you imagine being a small business owner, you finally get to reopen, you are welcoming your customers back and then you've got to close three days later and board up your windows? it's insane to have this kind of an economic blow when we are just starting to reopen. stuart: and all morning long, we have been talking about corporations which are putting out bulletins very much in support of the protesters. okay. i get that. maybe you've got to do that. i want to hear some condemnation of rioting and looting and i'm not hearing it. >> well, that's absolutely

ridiculous. we saw mark cuban yesterday in dallas marching quietly, a prayer vigil for the death of george floyd. that's all good and well. but there has to be outrage at what people are doing to the business community of this country when it's already been kicked down to its knees. absolutely there has to be condemnation for what people are doing, especially at this terrible vulnerable point in u.s. economic history. stuart: there's a mood of anger and frustration in our country at this moment. i don't know what we are going to do about it but it's not a very pleasant situation that we're in right now. last word to you. >> it's not. we have to find a much more peaceful path that doesn't hurt our very own communities and neighbors. there has to be a better way, stu. stuart: well said. danielle dimartino booth, thank you for being with us. very important day and very important subject. we appreciate you being here. thanks. all right. i'm going to show you

goldman sachs stock. it is nicely higher, up 1.5%. ashley, are they saying something about the job market improving? ashley: they are. in fact, they believe, they originally had forecasted they expected peak unemployment to hit this month, 25%. they have now revised what they are saying, and they say they believe it's probably 22% and it's already happened in the month of may. they say a drop in continued jobless claims is also being noticed, especially in states that opened earlier than others, which suggests rehiring is taking place. you can see from this graphic, it just looks like a ski slope. 40.7 million filed jobless claims during the pandemic. the top of that mountain, march 28th, we have seen a nice drop-off all the way to may 23rd. they believe that will continue so we are heading in the right direction. another sign that things, still not great, don't get me wrong, especially for those people out there who don't know where their

next job is coming from, but it is getting better. the key is how many people can get rehired and how quickly we can reopen. stuart: on a day like this you're looking for positives and i think you found one right there. well done, lad. well done. hoorps here's a live look at the white house. the president hosting a teleconference with governors, law enforcement and national security officials. i'm sure they're talking about the riots. we will bring you headlines when we get them. the country is opening up but millions of people are still working from home. nothing wrong with that. our next guest runs a company aimed at simplifying how you work from anywhere. more after this.

stuart: all right. still a nice sea of green all across the board. dow, s&p, nasdaq, all of them on the upside. 25,400 on the dow. have a look at box. that stock is up -- no, down just -- down 2% this morning to $19 a share.

it's a cloud storage company. we are calling it a lockdown winner because they make it a lot easier for you to work from home. aaron levy is with us, the ceo of box. congratulations. you look great, don't worry. you look absolutely great. don't worry about it. >> just trying to fix my hair a little bit. thank you. stuart: me, too. i haven't had a haircut in three months. look, great company. you are doing very well. what you are actually doing is emptying the office buildings in america's big cities because if i can use box and work from home, i'm not going to come back to my expensive office digs, am i? you know what you're doing here? >> well, that is certainly -- that is certainly one of the things that gets introduced is the flexibility of how we work in the future, and obviously, that's a bigger trend around this ability to work from anywhere. but i wanted to say thanks for having me on the show this morning. i'm really looking forward to sharing more about the business.

before i get started, i do want to acknowledge box's stance on the issues going on right now and just the pain and many challenges in the black community right now, and we feel it every day within our black boxer community and certainly all throughout the country. i just want to make sure it's clear about our support for standing up against racism and inequality in this country and what we are going to be doing to push on that. but also looking forward to chatting with you about the future of work and where those trends are going. stuart: okay. before we get into that, will you condemn rioting and looting? >> i think we are standing with being able to peacefully protest and be able to really make sure that we address these issues that are going on in our country and have been going on so long, i think the rioting and looting, you know, obviously is an unfortunate consequence of other individuals kind of getting into the mix but i do think that's a bit of a distraction from the main issue, which is what do we do as a country to make sure

that we can improve racial equality in this country and it's a super critical topic for our employees, for our customers, for our broader community and something nthat w are very passionate about internally right now. stuart: what is your contribution and what are you doing to the future of work? >> yeah. so you know, our vision for the future of work is, you know, we believe there's going to be increased flexibility in how people work, where they work from, how they can collaborate. this is a vision that we have had for 15 years building box. we started the business from our dorm room, the original idea was we wanted to make it easy for people to share and access files from anywhere. and so now 15 years later, obviously with this immediate thrust that we have all had in working from home, we know how much more important it is to be able to have flexibility and who we can collaborate with, how we can work securely. more and more of our data and applications are moving to the cloud and we see a completely

different vision for what work might look like in the future, where, you know, maybe you have a reduced commute, maybe you can go into fewer meetings in the office because you can actually have flexibility in where you work from and how you work across the organization. we also are, you know, we fundamentally believe this will create a much more inclusive culture within organizations because meetings won't just be about the people you happen to have on your teams and the people you work with every day, but fundamentally they can spread throughout geographies and really to nany of your teammates around the world. we are very optimistic about the future of work and what it's going to do in terms of just creating additional flexibility and being able to move faster and innovate more as businesses. stuart: can you just give me in the last 30 seconds a quick update on how your business has increased and improved since the lockdown began, say three months ago? >> yeah. so we just reported our earnings last week and we saw accelerated growth within our enterprise segment. we actually seeded our internal

targets and were able to report numbers that exceeded wall street numbers on revenue and profitability and we were able to raise our profitability targets for full year. we know there's a lot of demand for cloud services, products like zoom and many others. what we are really focused on is helping them manage their data as they work from anywhere. stuart: thank you very much indeed for being with us this morning. it's a big day. we are glad you are part of the show today. aaron levie, thank you, sir. appreciate it. thank you. have a look at marriott hotel chain. their ceo says customers are tired of working remotely. they want to start traveling to work again. he says, however, it may take a few years to get back to pre-pandemic levels. nonetheless, the stock is up, nice gain, 6.5% up on marriott. they had a good week last week as well. digital alley, they make

security cameras, their shares are rallying because of the ongoing riots. the stock is up, well, more than doubled. look at that. $2.32 a share, up $1.20. that is up 107%. look at the gun makers. here again, it's the riots. that's why they're up. sturm and ruger. riots have consequences. take a look at the credit card companies. susan, come into this, please. i am told reliably that millenials are using their stimulus money to pay down debt. is that true? susan: yeah, .2% that have gotten their $1200 stimulus checks have used it to pay down credit card debt. i was shocked by this. did you know the average millenial has $4,712 in credit card debt? so the 22% that used $1200 to pay it down, smart move.

22% of mrillenials from 24 to 3 have already spent it as well. those that say you should actually pay off your credit card debt because you want to get your credit score up, you want a utilization rate, the balance you carry on your credit card, to be the actual limit you have, to be around 30%, if you really want to be good about it, get it down to single digits, below 10%. some smart millenials are doing that. stuart: i didn't get my first credit card until i was 32 years old. susan: what year was that? did they have credit cards back then? stuart: very good spur of the moment response there. that was good. that was very good. that really hurt. susan: there were stamps then, you know. stuart: let's get serious again. peaceful protests morphed into violent riots coast to coast. police cars set on fire, businesses burned down, luxury stores looted. coming up, we are going to take you to new york city and chicago. both cities trying to pick up the pieces after a night of destruction. we will tell you all about it

after this.

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[ chanting ]

>> leave the area immediately. go home, now. stuart: truth is, it was like that all across the country. riots all across the country. that included chicago. that's where we find grady trimble right now. set the scene for me this morning in chicago, grady. reporter: well, this morning, we have the juxtaposition of some people in the early hours around 7:30 still looting but now what we are seeing is people in this community really coming together to help out with the cleanup, along with city sanitation crews. i can't tell you how many people i have seen come by stores like this one with brooms, offering to help sweep up the outside as employees of the liquor store are cleaning up on the inside. this is just a sample of some of the damage we have seen along milwaukee avenue in wicker park this morning. despite the curfew, despite the restrictions on travel into the city, it turned out to be an extremely violent night. in fact, it was the most violent weekend in the history of chicago for 2019, i should say.

mayor lori lightfoot saying it spread like wildfire and if there was a police department three times the size of chicago pd they still wouldn't have been able to keep up and stop people what they have been doing here. sample of the damage after these protests which -- many of which were peaceful, i should say, but a lot of it devolved into this. stu? stuart: grady in chicago. let's go to kristina partsinevelos on the ground in new york city. show me what you've got in lower manhattan. reporter: yeah, stuart, i just moved now to a 7/11 off east third. you have these two lovely people who are residents, not working for the company and jessica just finished her shift at the hospital. tell me why are you here today? >> because i'm a new yorker. this is what new yorkers do. we help, we support and we unite as one. reporter: thank you very much. you can see there's even another younger woman who just joined

but look at the damage the new york sanitation department is here to help pick up the garbage. i watched, too, i spoke to you last hour, i watched two men loot a gnc store. just moments ago we saw other men loot this store, 20 minutes ago twhehey went into to get so beer. if you look at this damage, it's not just the 7/11, people are trying to clean up, now the residents have moved over here to help out. it's incredible to see this but so damaging to what this city is based on. back to you. stuart: you're right. kristina partsinevelos in the middle of it. we thank you for that. thank you. more "varney" after this. there are times when our need to connect really matters.

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i think you can too. trust aag for the best reverse mortgage solutions. so you can... retire better. stuart: market has been open 2 1/2 hours. if you just joined us you may be surprised to see what is going on. after a weekend of rioting and a continuing lockdown in our big cities you might have expected the dow and other stock indicators to be on the downside. not so. all are on the upside. plenty of green there. look at this. i show you the gun stocks. this happens when civil disturbances of any kind, gun stocks go straight up because people might want to buy guns. up they go. stern ruger up 11%. apple they came out and reported their apple maps, lots of people searching on the apple

map part of their operation. that implies we're up and about all over again. target, target, literally of some of the riots, six of their stores are closed indefinitely. the stock is down 2.25%. time is up, david asman, in for neil. david: imagine what the markets would be like without the riots. i'm david asman in for neil cavuto and this is "coast to coast." president trump having a teleconference with local leaders and law enforcement as pros testers take to the streets again one week after george floyd's death. fox business's grady trimble has the latest. reporter: good morning, david, or good afternoon i sho