public health crisis. we need to take care of ourselves, take care of our communities and that in turn will allow the economy to recover. cheryl: yesterday was a rough day to see. luckily we have green arrows today. it's not how we open, it's how we close. fun show, you guys. thank you so much. that is it for me. over to stuart varney. sir, take it away. stuart: i will take it. good morning, by the way. good morning, everyone. let's get right at it. as of now, we are looking at a modest bounce for stocks after thursday's massive 1800 point selloff. run through this quickly. the dow looks like it's going to have a 560 point gain. pretty good, up about 60 on the s&p, very solid, and the nasdaq up 143. okay. not quite making up yesterday's losses but up. look at big tech. we are running up towards the opening bell. these are premarket quotes. this is how we are going to open. we are seeing stocks come back strong, these stocks are coming back strong. so again, the money doesn't

leave big tech for long. look at this. apple is back up by $7. microsoft, $3.50. amazon, that's up 40 bucks. alphabet up 21. facebook up nearly five. solid gains. got it. all right. it's 6:00 on the west coast and the people of seattle are waking up to a full scale insurrection. i use that word deliberately because that's what it is. the capitol hill district in the city is now known as chaz. that is the capitol hill autonomous zone. police officers have abandoned their precinct, the anarchists are in charge and the mayor says it's not terrorism, it's patriotism. you ever think an american city would cede control willingly to anarchy? it just happened. "varney & company" is about to begin.

they don't straighten that situation out, we're going to straighten it out. what i mean is very simple. we're not going to let seattle be occupied by anarchists. we're not going to let this happen in seattle. if we have to go in, we're going to go in. the governor's either going to do it, let the governor do it. he's got great national guard troops. he can do it. one way or the other it's going to get done. these people are not going to occupy a major portion of a great city. stuart: obviously the president doesn't like what's going on. he's not happy about it, and seattle's police chief, by the way, isn't happy either. she says that leaving the precinct was quote, not my decision. all right. just wait until you hear joe biden's floundering comments about this. he actually said i'm beginning to bore myself. here's my opinion. this insurrection is the result of decades of failed liberal urban policies and it cannot be tolerated.

we are going to cover it throughout today's show. the focal point right now, however, is your money and the markets. we are going to be opening higher across the board. lots of green over there on the left. i'm going to take a look now at the biggest gainers among the dow 30 so far this morning. let me read it for you. when i can see them. all right. we got them. nope. we got them. microsoft, google, apple, amazon, facebook. that's big tech. okay. i will try to bring you the top gainers amongst the dow 30 at some point. what have we got next? have we got airlines there? can you show me that, please? i'm guessing in the dark here. airlines, premarket, they are up, beaten down all week. coming back very very nicely today. look at the percentage gains for all of the big name airline companies. big gains indeed. the big financial stocks, where are they? i'm showing them to you now. morgan, goldman, bank of america, citigroup, morgan stanley, all nicely higher. we've got a rebound in the

stocks that were most beaten down. it's time we brought in jonathan hoenig, our market watcher for friday morning. yesterday's selloff, is this the start of something big? >> well, i will tell you when i see the scenes from seattle, i'm going to be watching because it's horrifying. it's like the birds come to life. one of the big performers among yesterday's selloff has been gold and when you see scenes of what you said, literally anarchy in the streets of america, it's no wonder why. look, yesterday the start of a big -- the first thing you have to say, it's always about your own concept. when the market goes down a few thousand points, people say get me out. it's also an emphasis, as we talked about, you have to have your own financial house in order, paying down your credit card debt, for example, but to get to the meat here, yeah, i think the market is vulnerable. for the most reason why is some of the stocks you alluded to. the big cap tech stocks, they

dominate the indices now. they are 5%, 6%, 10% of the major indices. we haven't seen that since 2000. put it all together now, i think the market is vulnerable, especially given the last -- stuart: we hear you but let me bring this to your attention. this is the way most of our viewers look at the market. tina, t-i-n-a, there is no alternative to stocks. there isn't, really, is there? for most viewers, ordinary investors, i don't see much of an alternative. >> well, i think respectfully, stuart, there's a lot of alternatives out there. one of the great advantages of this financial innovation, the evil guys on wall street, [ inaudible ] but securities that track silver, that track agricultural, that track emerging market stocks. it's become very convenient to buy the big cap tech stocks that everyone knows and if you look back to history, from a period of 2000 to about 2010, it was

all those alternatives that were the outperformed names like microsoft and cisco that went nowhere. take the politics out of it. in my estimation, investing is like barhopping. go where the action is. i don't think the action in the next five years is going to be in amazon, microsoft -- stuart: all right. we hear you. i just wish i was young enough to go barhopping again. i wish the bars were open again but that's another story. jonathan, you have a great weekend. see you soon. all right. let's get serious for a second. a second virus wave was supposedly one cause of yesterday's selloff. "wall street journal" article says this morning, what our guests have been saying. that is, more virus cases are the result of more testing. come on in, ashley. tell us about the spike in texas. ashley: yeah. it's interesting. that opinion piece in the "wall street journal" also saying the headlines about the virus

resurgence in the u.s. are overblown so far. let's look at these numbers, if we can, beginning with texas. yes, take a look, these are the states that are seeing more cases. texas, florida, arizona. let's begin in texas, why not, where testing is up 38%. guess what? confirmed cases are up about 36%. in other words, cases up a third, the amount of testing done up a third. now, let's take a look at florida. the testing there is up 37%. but the number of confirmed cases up 28%. a little bit of an outlier is arizona. the testing there is up 53% but the number of cases up 73%, but these are in the most vulnerable communities. so in other words, the "wall street journal" is saying yes, we are seeing more cases, but oh, by the way, we are doing a lot more testing and bottom line, they say the costs of shutting down the economy are so

great, there is no alternative but to open for the broader public good. stuart: glad to hear that. good stuff. ashley, thank you very much. mark douglas, steelhouse ceo, follows this stuff. i want you to talk to us about houston, because there's a lot of talk about them considering a new lockdown. tell me the story. >> yeah. so i'm talking to a lot of professional investors and basically all eyes on houston. houston obviously is in texas, third largest city in america. you basically can't get a more pro business state. there is a lot of concern that if the mayor of houston enacts a new stay-at-home order, that's going to trigger a wave of stay-at-home orders around america, so like the kind of big professional investors, that's what they are telling me, you know, is the concern they have that started kind of the market

turn-down yesterday. so today is like a big day. all eyes on houston. i also want to tell you, i'm in arizona and i have been in texas a week ago, and nobody is wearing masks. i mean, these states are open to a degree, like you can't tell there's covid here, but we need to start getting people wearing masks again because literally have not yet seen a person in the state of arizona wearing a mask. i think that's a part of the problem. stuart: okay. look, that's good stuff. we are glad you brought us the story and put it into some perspective. investors, some investors are worried about hot spots developing like houston and a new lockdown order coming in place. that was the fear. interesting how that goes. mark, look, thanks very much for joining us. you know about this stuff and we appreciate you being with us. okay. i'm moving on to online shopping. listen to this. massive numbers on online shopping. i think that's an understatement. lauren, you've got the numbers for me with online shopping

during the virus lockdown. go. lauren: it comes from adobe analyau analytics. we spent $52 billion more online, in total, $82.5 billion. why? we have been under lockdown for three months and gotten used to shopping online. the buy online, pick up in store trend, even that grew 195% in may year over year, and a lot of people shopping now with their smartphones. 10% purchased more products through their smartphones in may than in january. so bottom line, like i said, we have adjusted to the new normal. repercussions, look, it's going to be hard to justify brick and mortar if you are a company right now. however, you have to remember, a lot of what we buy is returned to the tune of an expected $400 billion this year. stuart: bricks and mortar will take it on the chin. 25,000 stores may close. that's a big number. lauren, thank you very much

indeed. one stock in particular to look at. lululemon. we thought that that was a lockdown winner, you know, people wear yoga pants while working from home. got that. however, sales were down 17% last quarter and the stock is down 3% this morning. it dropped below $300 a share. tesla. goldman sachs downgrading the stock, saying it's neutral. morgan stanley, they have lowered their rating on the stock. however, it makes no difference this morning. you can't work out tesla. they are up this morning, $979 is the quote, up six bucks. how about nikola? they are a tesla competitor. the stock's gone way up. lots of buzz around this company. they make an electric truck. they haven't sold anything so far and they won't have a product on the market until next year. the stock, though, this morning is up another 7%. we've got the ceo on the show in our next hour. one more time, it's friday morning. see where we are going at the opening of the market, up is the

word of the day. all across the board. yes, it's friday. big show for you. judge jeanine pirro sure to be fired up. fox news contributor lawrence jones and the mayor of jacksonville, lenny curry, how his city is going to host, yes, they are, president trump's convention speech, next. look at the headline. the corporate media is now controlled by the radical left with the cancel culture in full force. welcome to the brave new world. we've got the story. and seattle's democrat mayor, she says the occupation of her city could last for awhile. listen to this. >> how long do you think seattle in those few blocks looks like this? >> i don't know. we could have a summer of love. stuart: wonderful. a summer of love. she even defended the occupiers calling them patriots. we've got what she had to say. you will hear it, you will see it next. you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check?

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stuart: the republican convention is going to jacksonville, florida. president trump will accept the nomination there. the big speakers will be in jacksonville. lesser lights will still be in charlotte, north carolina. later in the show, the mayor of jacksonville, lenny curry, will join us. i'm going to ask him, are you going to enforce social distancing rules at the convention, because if you do, the convention won't come to you. we will talk about that. the president just tweeting about it. here we go. the republican party has not yet voted on a platform. no rush. i prefer a new and updated platform. short form if possible. there you have it from the president. stock to watch it apple. the ceo tim cook will commit $100 million to fight for racial equity and justice. apple will increase spending

with black-owned partners and push for more minority representation among the company with which it does business. all right. that's apple. up nearly eight bucks this morning. google banning targeted housing ads that are based on gender or age. they say it could violate discrimination rules. the stock is back up 24 bucks a share as of this morning. now, look at this. seattle mayor jenny durkin defending the occupiers, if that's what you want to call them, anarchists by any other name of her city's police-free zone. she calls them patriots. watch this. >> lawfully gathering and expressing first amendment rights, demanding we do better as a society and providing true equity for communities of color is not terrorism. it is patriotism. stuart: okay. the gentleman on the right-hand side of the screen i hope is incensed about this. ed rensi, former mcdonald's ceo.

ed, you know it, i know it. corporate america never, ever criticizes violence and looting and i don't know why. >> well, i find it ironic because very often, business is a victim of the anarchy that exists on main street and we better start talking about these things. free speech is being suppressed by anarchists through threat and bullying, slogans, chants and whathave you and if we are going to keep and maintain a productive society, we have to have the ability to engage in discourse, discuss issues of the day and be realistic about what's going on. the mayor of seattle, the mayor of new york city, the governors in these states, are not equipped strategically or tactically to deal with what's going on and they surrender because they are more interested in staying in office than they are of fixing problems. stuart: nothing changes. nothing changes. ever.

that's the way, it just keeps on going. i'm really shocked at this. the occupation of an american city by anarchists proceeds without hindrance. i'm absolutely appalled by it. let me move on before my head explodes. here's a head line for you. the corporate media is now controlled by the radical left. this is the same story. it reads top editors are rapidly resigning over allegations of racial insensitivity, most of which are correctible or forgivable if they are accurate. legitimizing the radical left's inane and counterproductive policing about politics and culture. ed, it's just the same in the media. never, ever any criticism of looting or violence or anarchy or arson, ever. what's going on? >> i'm mystified because madison when we put together the whole concept of free speech in this country knew and we know, you and i know that it's important to have debate around the issues of the day.

if we can't talk to each other civilly about what we see, what we know, how we feel, what we think the solutions are, we are never going to make progress as a society. you know, our educational systems in this country are in serious trouble. the black community suffers from government-run schools that are inadequate by any stretch. we need to go to a school system that allows parents to pick the schools that are best for their children. this idea of free speech isn't free. it carries a price. each of us must stick our neck out and talk about what's right in this country and silence is not free speech. ignoring the reality is not free speech. letting these bullies chant and create slogans to deny the rest of us the opportunity to speak out about issues of the day is just wrong. i find it abhorrent. i'm going to speak my mind, i'm going to talk intelligently. i'm not going to get emotional

about who you are, what you are. i want to know what your brain has in it. i want to know what you think. i want to know what you're going to do, how you're going to do it and what your plans are and why i should be persuaded to your point of view. we don't have dialogue in this country anymore. we have bullying. stuart: it's incredible we wake up on a friday morning and i know people on the west coast are just waking up, it's 6:22 out there, and what they are waking up to is anarchy in downtown seattle. seven blocks taken over by anarchists and the mayor says she's hoping for a summer of love. i find that absolutely extraordinary. last word to you, ed. >> well, the reality of it is our society has been built on the idea of free speech, interchange, government, a representative democracy deserves the very best we have. you look around the world, you have traveled the world as i have, socialism does not work. it suppresses people. you doubt me, look at uganda.

100% african-controlled and the people there are suppressed there worse than anyplace on the continent. stuart: ed, we got it. thanks very much for joining us. we will see you again soon. thank you. back to the market, because we've got about seven minutes to go before we open up again. huge loss yesterday. bounce back today. to the tune of about just over 2% across the board. that's where we are. we will take you to wall street after this. technologies advisor.

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stuart: we are three minutes away from the opening of the markets this friday morning, last trading day of the week. d.r. barton is with us. you are saying, i know your stuff, i read your stuff, i know you are away from new york at the moment, i read your stuff, you are saying buy this pullback. go. >> yeah. stuart, you know, some great things are happening and there are some concerning things happening. the great things are outweighing, the last ten straight weeks we have had reduced unemployment claims every week, continuing claims, a really important number, how many people continue to be on unemployment in the weekly number has dropped five million over the past four weeks. those are all good things. we are following on the heels of europe, western europe, who seems to have their curve not

just flattening but declining. i think those are all good things. pile that in with the fed saying whatever it takes basically, we're not even thinking about raising interest rates and we have a cocktail that i think just leads us higher from here. stuart: okay. do we need another stimulus program? by the summer or early fall? >> well, i think whether we need it or not, we are going to get it as a political expedient from both sides of the aisle. i believe that we can take a little bit of a breather, see how the economy recovers over the next month or so before jumping into anything, but i believe any kind of stimulus in that way, especially fiscal stimulus, something from congress that's going directly into people's pocketbooks, would be a very strong thing for this market and just send it up further. stuart: you do think -- i think the idea that we will get another further stimulus

program, i think that is a plus for the market, along with all the other pluses that you have listed, right? >> it definitely would be, stuart. i would be amazed if we talked three months from now and we hadn't gotten that extra stimulus from congress. i would be completely surprised. if we don't get it. stuart: stay there, d.r. i will get back to you shortly. right now we have less than a minute to go before this market reopens. i just have to remind you that yesterday, the dow was down, what was it, 6.9%. 1,861 points. that was a selloff all the way through the trading session. it never let up. as we said, we were down 1861 at the close. however, in 30 seconds, the market reopens and we are going to bounce back. we are not going to completely recover all of yesterday's losses, at least not at the opening bell. when we do open for trading, we will be back up by about one-third. if we lost 1800 yesterday, we

can expect a gain of about 600 today. that's a very modest bounce. that's just at the opening bell. i have no idea how things will close out today. okay. the bell is ringing. it's about to stop ringing and we are about to start trading. here we go. right from the start, we've got the dow up 700 points. okay. make that 694. 700. it's a sea of green. you don't often say that but it is a sea of green. every single one of the dow 30 have opened on the upside. they are in the green. right now we are up 659 on the dow industrials. that's 2.6%. remember, please, we were down 6.9% yesterday. show me the s&p 500. what's the gain there in percentage terms? 2.5%. solid. look at the nasdaq, please. what's the gain there? 2.3%. across the board, you've got 2% plus on the upside. i want to show you boeing. rough day yesterday.

the stock was down 16%. back up to the tune of 9% today. however, they have just told a supplier to freeze the production of parts for their max jet. nonetheless, the stock is up 9%. disney, how about that. there are calls to delay the reopening. more on that for you coming up. nonetheless, disney is up 2.3%. mcdonald's, like to run through some of the big names for you. mcdonald's clobbered yesterday. back up just 2% today. $191 on mcdonald's. nike, that thing fell 7% yesterday. it's back up to the tune of -- i can't see it -- okay. let me move on. big tech on the screen right now. it's up two bucks at $97. nike. okay. got that in my ear. big tech is up across the board. solid gains indeed. especially i so theee for amazo 2.6%. they are coming back this friday morning.

the financials, one of the hardest-hit sectors and again, they are bouncing back. not recovering all of the loss but bouncing back. couple of the sharply beaten down areas would be cruise lines. they are up sharply all over again. you can't keep pace with this group of stocks. up one day, down the next. all over the place. can you show me airlines, please? i'm sure they are bouncing back. yes, they are. d.r., wait a second. wait a second. ashley, do you have information on how much cash the airlines are burning through? ashley: well, yeah. as an industry, $230 million every day, the losses for the industry overall could total $84 billion for this year. american airlines just said the second quarter revenue will be down 90%. american said it's burning through $40 million a day. they do hope, though, to have that cash burn reduced to zero by the end of the year. but they are going to resume their schedule in july, 40% of

what it was this time last year. it's the same for delta and united. it's a very tough road back for the airlines. all about passenger confidence and as we have seen on all the recent surveys, people say they are comfortable with a short road trip right now. it's going to be awhile before we see airlines getting anywhere close to where they were before the pandemic. stuart: all right. i want to bring d.r. back in again. you are shorting the airlines. that means you are betting against them. you are saying they are going down. make your case real fast. >> yes. you know, we got yesterday news that lufthansa laid off 22,000 people, the german carrier. all of these airlines, as ashley said, 40% reduction but then there's going to be reductions per plane, the load limit is down. people are not going to want to jump back on airplanes unless it's a business necessity and these things are being bid up, up one day huge, 15% for

american today, these things are going to come back down to reality when we start seeing some real numbers and that cash burn doesn't end before the end of the year. stuart: all right. i will take that, thanks, d.r. i will put the big tech stocks back up on the screen. i want a wrap-up of all the news on these things. dig a little deeper into the big techs, susan. susan: i want to point out that even though we lost 1800 points yesterday, so we are back at the levels that we saw during memorial day, that was just about a week ago, it was really a big deal. a lot of stock traders saying no, it's just a shakeout of the retail investors which might be a good thing because you have the institutionals getting in. there is so much money on the sideline and institutions, by the way, tend to hold the stock a lot longer than retail investors. as for big tech, as you saw yesterday, we had apple, microsoft, falling about 5%. some sthau asaw that as a barga. apple, bank of america putting a price target at $390, a street high still on the stock and this is because of all the cash they

still hold and services which means movies that you watch, apple music you subscribe to, holding up a lot better in these covid times. also, microsoft is the same thing. we have cloud computing and this migration being accelerated in these times and street high is still around $190 a share. $195. analysts are still rushing in to raise those price targets. amazon, by the way, a small dip, relatively contained compared to the rest of the market and amazon as we know obviously has a price target of close to $3350 or close to $3400 for the stock. stuart: still the place to be. thanks very much, susan. i want to take a look at the vaccine makers. very much in the news recently because the government has narrowed its list of possible vaccine providers or vaccine makers, i should say. lauren, do you have that list for me? lauren: i certainly do. npr is reporting that five vaccine makers, we are showing them on the screen now, have a government contract to come out with a vaccine which is the true

panacea for investors against covid-19, right. five of them have government funding. the government contract to do that. three of them -- sorry, two of them are already in human trial and those two are moderna, up 2%, by the way, it was up like the only stock up yesterday, in that massive selloff, and astra-zeneca. so your best hope right now, according to the data, two being in human trial, moderna and astra-zeneca. stuart: we have now been in business for six minutes and we are up across the board. hold on. there you go. we are up 700 points as of right now. remember, down 1800 yesterday. back up 700 in the first six minutes today. i want to check the ten-year treasury yield. that's been all over the place. it settled this morning a at .695%. got that. where's gold on a day like this? we are at $1748 per ounce. that's where we are. up eight bucks. and oil, now, yesterday oil

really tumbled. it's at $36 a barrel as of this morning. ash, it seems to me that oil has been under pressure from a variety of sources here. tell me more. ashley: yeah. it's almost like a quadruple whammy. certainly we have seen declining inventories in the last report which was interesting. reports of more virus cases, we discussed that, fears of a second wave knocking down confidence of the pickup in demand. gloomy outlook from the fed. we haven't talked much about it but jerome powell gave us fairly somber tone and now there's concerns about permanent damage that's being done to the economy, and that in turn has hurt oil. and u.s. producers, once we saw the prices start to head towards $40 or just touch it, we started to see more oil production and that's just added more oil to the overall supply. so we still have an overhang of a glut of oil. that's the problem. stuart: i'm still paying $2 a gallon for gasoline which makes me feel good.

yes, i am. all right. okay. let me get back to lululemon. the stock is now trading, it's down nine bucks. they took a hit on sales during the pandemic. lauren, i thought we were all wearing yoga pants while we were working from home and lululemon went above $300 a share. what went wrong? lauren: you know what, it's only about $20 away from an all-time high. nothing went wrong. this is a stock taking a breather. yes, sales fell 17% because their stores were closed. here's the rub. they were able to grow their online sales to be 54% of their total sales and stuart, that came with a cost at the distribution center, at the warehouse. that ate into their margins and bottom line. the stock is down about 2%, 3% today. stuart: you make a good point. it's still about 20 bucks away from its all time high. you're right. nothing actually went wrong. let's be real here. it's at $299.74 as we speak. all right. 9:38.

thanks, everybody. moving on to check the big board overall. now we are up 733, 36, 38 points. this is important. we are coming off an extraordinary selloff yesterday, bouncing back 700 this morning. then we have joe biden, bumbling on the campaign trail. you have to see this. watch it. >> you know, the rapidly rising in with -- i don't know -- i'm beginning to be bored by my own talk here. stuart: okay. catch that? he said i'm beginning to bore myself, i'm actually bored with my own talk. i've got more of -- more where that came from later in the show. new york's governor cuomo, he's emerged as the left's shining star of the virus response but look at this headline. "wall street journal." how new york's coronavirus response made the pandemic worse. i'm going to break that down in my take in the next hour.

and zoom actually working with the chinese government to ban accounts of pro-democracy activists. what happened? what happened to that? we've got the story. we will bring it to you next. we're here for a reason. and it's bigger than selling cars. we're here to build for the people who build and shape this country. who work hard. who do right by others. who never give in.

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stuart: zoom allowed the chinese government to censor pro-democracy activists. now, there's a head line. how did that happen, susan? susan: they copped to it in a statement saying yes, we acknowledge that the chinese government requested they suspend the dooaccount of u.s. based and chinese based activists during the commemoration call of the tiananmen square massacre. zoom claims it only took action because the chinese government informed the company that this activity was illegal and in the meeting, meta data showed a large number of participants were from mainland china. zoom doesn't have the capability to shut down the conversation in specific countries so what they did was they took the whole

thing down so in the future, they say zoom said they will no longer allow requests from the chinese government to impact anybody outside of mainland china that is working on its technology to only remove and block certain participants from certain geographies and countries in the world but this is another black eye for zoom video. as you know, they have had security lapses, they have also routed some of their chats through servers in china and now this episode of censorship. stuart: can i say that twitter is going in the other direction, because i'm told, you can confirm this, they are taking action against chinese propaganda. susan: so 200,000 accounts they say that they removed and these accounts were taken down for spreading fake information when it comes to, say, the coronavirus outbreak, taiwan, even hong kong protests. they say the accounts were largely caught early and they failed to achieve any considerable traction on the service. but it's interesting, this new development, this new tactic being taken by the chinese propaganda ministry. now funneling information

through western social media accounts. they did that on facebook as well last year. facebook and twitter removing some of these accounts during the hong kong protest for spreading misinformation. stuart: got it. susan, thank you very much indeed. twitter still lounging around at $33 a share. here's a good headline. adobe says we spent $82.5 billion online just in the month of may. good lord. i want to know how to take advantage of that. ray wang of constellation research follows big tech and has been right consistently. he's with us now. ray, this is all about no contact shopping, isn't it? we don't want to touch or feel anything, we don't want to see anybody. that's what this is about. >> you are completely right. we are talking about a $720 billion online market that's growing 18% to 20%, that's taking chunks out of retail which is a $4.9 trillion market and people want contactless. you want to buy online, pick up at the curb, you want it

delivered to you, you can see everything from pizzas to toilet paper being delivered to you without ever having to go into the store. stuart: this is not going to go away, is it? >> this isn't going away. if you look at the recent studies, like 70% of people, it's the first time they bought something online, that they have never picked up online like toilet paper or hair dye or things like that, and also, 90% of the people are buying online because they don't want to be in the store. they are afraid. so they have actually embraced e-commerce and it's actually accelerated three years of digital transformation in three months all at once. stuart: as an investor, how do i take advantage of that? we have been running, adobe's stock is up, we have spotify up. is that how you take advantage of no contact shopping? >> there's a lot of ways to do that. one is to go after the retail play with e-commerce so you are looking at the leaders, amazon, definitely, hot play. walmart, hot play. what's happening on the ebay, home depot, that rounds it out. then of course, there's a

software manufacturer providing e-commerce software. adobe, shopify, salesforce, microsoft. and of course, all the commerce vendors combined, these are the ones providing your capability to do contactless in-store retail, they are all doing that right now. stuart: we think of you as the guy who followed big tech right from the start, from four years ago, you have been bullish on big tech all the way through. i don't think you have ever wavered, ray. so are you going to tell us now that big tech remains a safe haven and the place to be? >> i definitely am. i'm going to stay consistent there. part of it's because the move to the cloud, the move to digital channels, the move to subscription business models, the move to automation and a.i. is happening in the cloud and we have seen that massive acceleration occur, even in the middle of a pandemic. those companies have done really well and more importantly, post-pandemic. stuart: give me one big tech favorite of yours. >> oh, i really love shopify.

i think they are on fire. they are helping small businesses do really well. we see them at about $850. they have been growing so rapidly, i think they will be one of the biggest challengers to amazon, microsoft, adobe and salesforce in the long run. stuart: okay. what about really really really big tech? facebook and apple? you like them both? >> i like apple a lot. i love the services strategy as susan was saying earlier. once they get the stores up, they have a brand new iphone coming out. that release will actually help them a lot. but they are also doing a lot especially on the advertising -- not on the advertising but on the streaming side. that streaming part of the business and the services part of the business is definitely the future for the iphone. stuart: you've been right so far. i hope you're right in the future. ray, thanks for being with us. see you again soon. >> happy friday. stuart: yes, sir. there is an insurrection, i'm calling this ain insurrection i seattle. i'm calling it a mess. an american city turned over to anarchists and the left has no idea how to handle it.

i don't think they want to handle it. we will take you inside chaz, the occupied zone of seattle, that's my take, in the 11:00 hour. an enormous amount of gold is flooding into new york city vaults. what is that all about? we are going to tell you all about 20 million ounces arriving here. in my line of work,

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stuart: all right. we are going to show you the price of gold as of right now. $1752 per ounce. hear this. in the last three months, 20 million ounces of gold have flooded into new york's vault, new york city vaults, so says the "wall street journal." gold miner brian slusachuk is with us now. what's the significance of this? 20 million ounces coming in. is that going to be made into gold coins to be purchased by mom and pops for their grandchildren? >> well, stuart, i think there are a few implications here. first off, remember that traders use comex futures in order to hedge against their exposure to the london gold market. now, this is a win/win for everybody involved, but it relies on getting physical gold from storage points in london to the usa for settlement.

now, there have been a lot of disruptions in that recently and it's caused chaos. it's caused a gap in pricing and it's caused some traders to worry about an inability to settle contracts. but this speaks to something much larger. individuals all over the world are worried about getting their hands on physical gold so they are out there looking for gold coins that they can put in safety deposit boxes, that they can hold at home for that matter. they are worried about the difference between paper gold or promises and physical gold. we have seen countries worried about physical gold. they are trying to repatriate their gold supply. now for the first time, we have seen what happens when traders at banks get nervous about the ability to take physical delivery. stuart: okay. the physical gold has arrived in new york. 20 million ounces of it. we are glad to hear it. brian, thank you very much for joining us and straightening that out. appreciate it.

thank you, sir. i'm going to put a sign on your screen. here's what it says. you are now leaving the usa. that's just one of many signs in seattle's new police-free zone. okay. i will tell you all about that one. can't resist that. new york's governor andrew cuomo praised by the left over his virus response. but new york city is a disaster and new york state has more cases and more deaths than any other state in the country. how come governor cuomo is such a media star? i will go at that next. some companies still have hr stuck between employees and their data.

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stu stu all we've been open forf an hour, and here's where we are. the dow industrials are up 700 pointings. a lot of that gain, though, concentrated in apple and boeing. take a look at the biggest winners amongst the dow 30. they are boeing, which is up, back up 10%. it was down 16% yesterday. dow inc. is up 5 percent, and cisco systems up 4%. they are the dow winners. overall, big tech. that's where the action so often is, and it is again today. apple's up $10, facebook's up $6, microsoft up $4.69, straight up after yesterday's big losses. i want to take a look at the online retailers simply because we had blow outnumbers from adobe which showed we spent

$82.5 billion just in the month of may online. wayfair, etsy, amazon, all of them, straight up. now we're getting the first read of consumer sentiment for the month of june. that's an interesting number, ashley? ashley: yes, right on the screen. 78.9, this is the preliminary number for. june. it is better than the estimates. i know you hate the word, but we were looking for around 75, so coming in at 78.1. the may final number, by the way, was 72.3. 71.8 in april. so you can clearly see ecothe coming back -- see the coming back of sentiment. but, of course, pre-pandemic this number was around 100 or thereabouts. we have a ways to go. but certainly sentiments improving, let's put it that way. stuart: yes, restoration of confidence, i think, that's the thing. and we're up 750 on the dow. but, look, we've talked a lot about online selling.

don't count out the bricks is and mortar retailers. some of them are are doing okay. give me more on that, lauren. lauren: yeah. including the largest mall owner in the country, simon property group. it's up about a -- about 5% today. gap, may city's, kohl's, they've been so volatile recently. but for the month they're up about 40 percent. sold off big yesterday, but look at these gains today, may city's and kohl's each up 8% -- macy's. when you look at travel and reare tail, these sectors, it coincides with the mood of the reopening on a day-to-day basis. we follow them every single day. stuart: yes, we most certainly do. our viewers as well. i think we need the voice of experience, and we've found him. dennis guardman is with us, all right? [laughter] how'd you like that introduction? all right, now, do you -- i know you're still, you're bearish on stocks, aren't you? you don't think that stocks are necessarily the place to be

right now. make your case. >> i don't think that stocks are necessarily the place to be right now. i know that the stock market does a great job of discounting disaster, it does a great job of discounting optimism. that's its duty. but the economy is far away, far from being in a strong position at this point. so i find myself -- and let's color this by the fact that i'm almost 70 years old, retired from writing my newsletter, so where is my money? it's in a number of etf and bond funds that a pay me dividends on a monthly basis. i without a lot of -- bought a lot of them yesterday, i'm very fortunate. i'm a i bullish with stocks? no, i think the damage yesterday was very substantive and very material. stuart: i'm going to be 72 in a couple of weeks, i'm older than you, and i've still got my money in stocks largely, and i'm not selling. where am i going wrong? >> i think that's an ill-advised

bet at this point, to be quite honest, stuart. it's years before it's going to be anywhere near where it was in october, november, december of last year. let's congratulate the fed, they've done the right thing. i think being on the sidelines as far as stocks are concerned, i'm comfortable owning debt securities, owning high-yielding debt, hedging it at times in the stock market, and i won't be short. i don't want to fight the fed because their account is common industry by bigger than mine. i hope you're right, for the benefit of the country, i hope we go to new highs, but i have very serious doubts as to whether that's possible in the next year or two. stuart: look, we've been talking about the future of the economy in the immediate future. dennis, i want you to listen to what larry kudlow told us yesterday about the growth in the american economy in the second half. roll tape. >> we're going to have fantastic third quarter.

and fourth quarter. and going right into 2021 could be tremendous, tremendous comeback year. the trends are pointing upward. and, therefore, i will defend the president's optimism. i think you've got 20% growth in the third and fourth quarters, and i think you'll get 4% or better in 2021. stuart: dennis, he's laying out a terrific economic scenario. >> oh, yeah. stuart: you completely disagree? >> well, larry and i go back 25 years. he's one of my favorite people in the business, but on this i do disagree. i don't doubt that we'll have a bounce in the third quarter compared to the second, i don't doubt that the fourth quarter will be a bounce from the third quarter, but do i think we're going to get 4% growth next year? not a chance, in my opinion. larry's a tad too on the mix, but again, i hope for the sake of the country, i hope he's right, but i have my very severe doubts. stuart: all right, dennis, we appreciate you being with us and

come back soon, okay? got that. >> thanks. always my honor to be on. cheers. stuart: all right, everyone, now this: in march and early april, new york's governor andrew cuomo was very popular. he was holding daily press briefings detailing his response to the virus. he could do no wrong. it was even suggested that he be joe biden's vice presidential pick. in contrast the media was harshly criticizing president trump about his virus response. he could do nothing right. whatever the president did or said was wrong, and he was a nasty guy to boot. i draw your attention to a fine piece of reporting in today's "wall street journal." the writers take a close look at governor cuomo's performance and what impact it had on the virus. he does not look good now. here's the headline: how new york's coronavirus response made the pandemic worse.

the journal outlines a litany of mistakes. improper patient transfers, sometimes with catastrophic results. poor isolation protocols that led to more infections. poor planning for staff, poor planning for equipment. all of the above. and yet governor cuomo emerged as the shining star of virus response, and he yucked it up with his brother on cnn. what a contrast with the insulting and, frankly, rude treatment of the president. at his daily press briefings, reporters could barely restrain their contempt. for cuomo it was "kumbaya." and look where we are now. new york city is a mess, and new york has more cases and more deaths than any other state. i will repeat the journal's headline because it says it all: new york's coronavirus response made the pandemic worse. that is my take. tammy bruce with us this friday morning. cuomo was a media darling.

i think he still is. will it ever change? >> likely not, but, you know, he's a a superstar -- [inaudible] autonomous zone in seattle is a street fair and how hillary really won 2016 and joe biden is perfectly fine. you're looking at what the media does to the nation which is gaslight them based on what they prefer politically. and hiding the reality. and the reason why that headline at "the wall street journal" is perfect is because of the media, other liberal governors look to how cuomo's being treated. like in new jersey, copying, effectively, the -- [inaudible] rule regarding nursing homes which caused so many deaths which then heightened the number of deaths in new jersey. so -- [audio difficulty] with behavior that is being reinforced in blue states and other liberal cities that created, of course, a larger disaster. stuart: okay. >> this has always been the problem with the media. only really "the wall street

journal" is doing this -- stuart: we've got a slight communication problem here, tammy. just hold on for a second. i'll get back to you in just a second. let me segway to the market. we've been open 38 minutes, and we're up 776 points. we're just a little shy of the 26,000 level. this is important because yesterday the dow, as you know, it dropped 1,861 points, that's 6.9%. it was the biggest one-day loss for a long time. third, fourth, fifth or sixth, something like that, for the entire year -- for the history of the market. but we're bouncing back today, back 3% after a 6.9% loss yesterday. do we have tammy back with us? we don't. okay. sorry, i just have to organize where we are here. it's a little difficult when you're working from about 12 or 13 different locations, but we're going to do it with a smile. now, we've got a lot of news on food delivery companies. we have something on grubhub.

what's this? they're getting sue by yum, the parent of taco bell, kfc? >> back in 2018, yum brands bought a 3% stake in grubhub, and they were posed to get favorable rates and delivery from taco bell and kfc and also get favorable service as well. but with just week we had grubhub's ceo turning around saying, actually, this deal is terminated because you continue to work with uber eats and postmates which violated the terms of the agreement. so then we had a lawsuit filed yesterday in new york supreme court by yum brands alleging this is actually not true. and grubhub, because of this termination of this deal, has apparently hiked their rates on kfcs and taco bells by 30%, something that -- 40 percent, something that yum brands not happy with. grubhub was part of this deal this week valuing the company at $7.3 billion. [laughter] stuart: there's money in delivery, that's a fact. now, door dash, that's another

food delivery company. what's this, they've got a lot more money coming in? big round of funding? >> that's right. grubhub is the third largest around the world in food delivery, number one is door dash and, apparently, they're going to raise funds in a private round of venture capital investing valuing itself at $15 is billion. so initially remember this year earlier in the winter season door dash says we're going to ipo, but because of the turndown, the downturn in the markets, they actually scrapped that deal. so right now they are looking to raise funds privately and from the biggest institutionals. we're talking about t. rowe price, fidelity, soft bank might even get in. but if you think about, if doordash is worth $15 billion, grubhub worth $7.3 billion, uber eats around 10-13 billion, none of these companies are making money, and the consolidation was always bland, right? size -- planned, right? market share is probably more important in surviving in this

type of industry. but in this covid-19 downturn and even you have ordered with these services, it shows that this accelerating trend will continue, and these company have seen orders up spiking around 30-50% during this time. stuart: you know, ten years ago i don't know whether doordash was even founded -- >> no. 2013 is when it started its business. stuart: amazing. >> can you imagine? $15 billion valuation in just sick, seven years. stuart: just amazing. thank you, susan. i do have to apologize for our viewers and to tammy bruce. i'm afraid we cannot restore a good communication, good connection with her, but we will see her again on this program real soon. next, colleges. they're going to try -- some of them at least, are cutting ties with with the police. one of them is actually apologizing for allowing police into their buildings to use the bathroom during the protests. can you believe this? we've got more on that, believe me. and this is the scene in seattle, i call it an

insurrection. they've kicked out the police from the downtown area -- or at least one area of the city -- and we're hearing stories of anarchy on the ground. we've got a live report from seattle just for you. joe biden and other democrats warning president trump may not leave the white house if he loses the election. what would jeanine pirro think about that? ah, fired up. she's always fired up, and she is next. in my line of work, i come face to face with a lot of behinds.

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just ask "what can i say?" to find more of what you love with the xfinity voice remote. >> if they don't straighten that situation out, we're going to straighten it out. we're not going to let seattle be occupied by anarchists. if we have to go in, we're going to go in. the governor is either going to do it -- let the governor do it.

he's got great national guard troops, he can do it. one way or another, it's going to get done. stuart: that's the president. he'll take back the so-called cop-free zone in seattle. welt, let's go there right now. dan, the mayor supports the anarchists? really? >> reporter: well, it is sounds like it. she's not taking this very seriously. she's comparing this to a gay pride festival. she said that these people are patriotic. certainly, you heard how president trump is taking it, but jennifer durkin spent more time in her first news conference monday criticizing president trump instead of talking about what she plans to do about a protest that has taken over a part of her city. she has been mocked by trump and other for her decision to vacate the police department's east precinct and allow protesters to take over a seven block area being called the capitol hill

autonomous zone. police were nowhere to be seen with a couple of exceptions yesterday. the chief of police did get into the precinct for a look around and saw that there was just a little bit of damage inside, but then later two officers were essentially shouted down and run off one of the barricaded entrances. so protesters are clearly still very much in control, and now we're seeing that that's not sitting well with the chief of police, seeing that the morale in her department is at rock bottom. she put out a video saying the decision to cut and run was not hers. >> you should know leaving the precinct was not my decision. we fought for days to protect it. i ask you to stand on that line day in and day out, to be pelted with projectiles, to be screamed at, threatened and in some cases hurt. then to have a change of course nearly two weeks in, it seems like an insult to you and our community. ultimately, the city had other plans for the building, and

relented to severe public pressure. >> reporter: the chief says police will return to the precinct but can't say when. she did admit that response times to priority calls in that part of the city have tripled. most businesses are still closed, some are boarded up, and while many seattleites say they support the occupation, many see a complete breakdown in government. >> i've lived on capitol hill for 30 years. the amount of trash, the lack of respect for the small businesses that live here breaks my heart. >> reporter: and just to show you the major disconnect between residents like that and the mayor, after her news conference yesterday, mayor durkin was asked how long is this going to go on. and this was a network reporter asking her, and she kind of chuckled, and she said, well, we might be in if for the summer of

love. well, i don't think a lot of residents and business people who have businesses inside that area are thinking there's much love going on. they want order restored, they want their city back, and right now there's a seven block area that they really can't access easily, and it's just really kind of chaotic. stuart? stuart: you're putting it mildly, dan springer. thank you very much for being with us. great report right there. joining us now, judge jeanine pirro. restrain yourself here, if you can, but i call that a flat out insurrection, an absolute disgrace. you go at it. >> well, you know, i have -- [laughter] there's this fella who wants to add his two cents. look, what is going on is outright anarchy, it is anti-government, it is un-american. they can call it a peaceful protest all they want, but the bottom line here is that you've got them setting up barriers, i mean, we can't have borders, but

they can have barriers. people walking around with ar-15s, and then you also have people who have to have id in order to get in, they're being questioned. it's almost like a police state, but they're saying they're a police-free autonomous zone. so the question now is what happens, how long will this go on, will they just run out of steam, or will they enjoy this? will they, you know, will they turn off the phones? will they turn off the air-conditioning, the water and everything that makes it human-friendly to get, start to get them to get out? or are they making it more friendly for them? i understand that the city is providing services so they pick pup their garbage -- stuart: yep. >> -- and provide other accommodations to them. this is outright lunacy, and the rule of law has to be imposed. the question is who. you've got governor jay ips lee who is very anti-trump, in fact, tried to run for president, and he didn't even know about what was going on when this thing

started. and he can call out the national guard, the national guard is subject to insurrection. but the national guard can also be federalized under the president. now, the president made it very clear in the earlier sound that you had of that interview with harris faulkner, the president made it clear this is going to stop one way or the other. is so if you have the police that are being run out of a precinct not just in seattle, but they were run out of the third precinct in minneapolis, if it starts to be copied around the country, then there definitely has to be force used. i imagine at some point from the homeowners, the small business owners to be able to survive. i mean, we had something like this in occupy wall street -- stuart: yep. >> but occupy wall street wasn't involved in getting rid of police, it wasn't in the businesses, you know? you just kind of had to step over them to get to where you were going. they were in a park, it was dirty and a mess -- stuart: i just want to jump in

for a second -- >> this is a different situation x it's a very, very sensitive situation, is so i don't know how it's going to be resolved, but this can't go forever. stuart: let me jump in for a second because president trump just tweeted about the situation in seattle, literally just a moment ago. seattle mayor says about the anarchist takeover of her city, it is a summer of love. those liberal dems don't have a clue. the terrorists burn and pillage our cities, and they think it is just wonderful. even a death must end this seattle takeover now. that's from the prime minister judge, let me move on to something real fast from joe biden. here's what he said about what might happen if he, biden, wins the election. roll tape, please. >> have you ever considered what would happen if the election result came up as you being the winner and trump refused to leavesome. >> yes, i have, and you have so many rank and file military personnel saying, whoa, we're not a military state, this is

not who we are. i promise you, i'm absolutely convinced they will escort him from the white house -- stuart: in other words, judge, they think that he might not leave the white house. give me 30 seconds' response. >> you know, hillary clinton thought the same thing, and she's been change about it ever since. that she lost. look, sleepy joe is dreaming again. dreaming, number one, that he's going to win is and, number two, that it's going to take the military to get donald trump out of the white house. isn't it interesting, the anti-military people are talking about the military taking him out. stuart: yes. >> so wrong, so delusional. but then again, so is joe biden. stuart: you are -- >> and by the way, that mayor? i guarantee you, stuart, that mayor, they're going to want her out of there in seattle. stuart: only time will tell. judge, you're on fire again today and we love it. judge jeanine pirro, ladies and gentlemen. thanks for joining us.

>> thank you. tiewfort tooth all right. we're now one hour, almost an hour into the session, and we're back up 670 points. but remember, we were down 1861 yesterday. disneyland, whoa, seeing some backlash over its reopening plan? why thousands have now signed a petition for disney to delay opening its doors. got the story. nicola's new electric vehicle to be introduced this month. one tweet from the ceo more than doubled its stock price this week alone. i'm going to be speaking with that ceo next on this program.

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stuart: precisely 10:30, so we've been open win hour, and we're up 569. ah, we had been up 800 points earlier, now we're up 560. 25,687. that's where the dow is right now. take a look at the price of tesla's stock as of now. that stock, let's see what we've got here, that stock is -- let me tell you this, morgan stanley has cut its rating on the stock, and they say that the big risk to tesla is heightened tension between the u.s. and china. well, tesla is down today $16

lower. big retreat from $1,000 a share a couple of days ago. now look at the electric truckmaker nicola, that stock up since -- look at that -- 88% since going public just last week. now, that is a rally and a half. the stock spiked earlier week after, after its ceo, trevor milton, tweeted this photo of the new badger zero emission truck and announced it would start taking reservations on june to theth. up went the stock -- 29th. at its peak, the stock price was to high that it made the company more valuable than ford and fiat even though nickola doesn't have a product on the market and won't bring in the revenue until next year. i should also tell you that andrew left, frequent guest on this program, says short that stock. it's going down. that's a what andrew said in that rather lengthy tweet that you can see right there. well, who better to answer owl

of in that -- all of this than ceo trevor milton. trevor, welcome back to the show. you've got a lot to deal with here. you've got a spike in the stock, no revenue til next year, no product on the market til probably next month, and left says you're going down. answer it all, please. [laughter] >> thanks for having me on. i love your show, by the way. you know, it's an exciting time in life because the world is rewarding those that are changing the world. i mean, zero emissions, especially semi trucks being the number two polluters in the world, what people don't understand is that investors are rewarding those that are completely going away from the old, you know, the old idea of, hey, everything's fine, we can just keep building millions of diesels. they're -- my generation's really rewarding people that are just changing everything. andrew left, he doesn't get it. he's irrelevant right now -- stuart: whoa! [laughter] >> yeah, i mean, look, i don't

care. stuart: you've got to make the case that your electric truck, i'm going to call it an electric truck, is better than tesla's cyber truck. can you make that case for me now? [laughter] >> okay, look, it's hard to say whose is better, right? in this world. the idea is that our business model is based upon profitability, which is the most important thing. two things, you hit it exactly on point, you have the nicola apparently which is the number one, it's going after the number one pickup program in the world which is the ford f-150. and then you have the nicola trade which is our hydrogen electric semi trucks. that's incredibly profitable as well. that's why people are rewarding us because we're going after two of the markets that are most profitable in the world, and it's kind of the best of both worlds. but this badge ec pickup truck, varney, when you see it in person -- i'll bring it out, and

i'll let you see it in person, i'll take you for a ride. i want you to see this because it's the coolest pickup truck anyone's ever seen in their life, and it -- stuart: okay. >> i want you to see it. stuart: i can't necessary agree to come on out and drive your truck, although i do myself have a ford f-150. and i would be delighted to compare the two. but real fast, real fast, you have to have an extraordinary battery on a truck to give it some range between charges. what is the range of your big truck? >> so the badger pickup truck is done with two things. it's kind of unique, it's the only truck like it in the world, this is why people got excited. it's both a battery electric, and it's a hydrogen fuel cell. so you can go the first 3-400 miles on battery, and if you need to go longer, you can turn on the fuel cell, and it allows you another 300 miles, and that gives you 6-700 miles without having to stop. and for people who are running

trailers or -- pulling trailers, running construction companies, you don't is have an hour or two hours to stop, is -- you want to do it five minutes. that'sultimately, that's one of the reasons why the badger's been so unique. stuart: i paid roughly $50,000 for my ford f-150. what would i pay for the nikola electric pickup truck? >> it starts at about $60,000, and then there's a $7500 federal credit. so it's not too far off. it can go up to 90 if it's fully loaded, but it's almost 1,000 horsepower. 0-60 in 2.5 seconds. i mean, this thing a beast. it's four-wheel drive the entire time, i mean, this thing is -- it's awesome. i can't wait to show, i really want you to see it in person because that's the critique we get, where's your product? well, we unveiled it this year, so hopefully, i can give you a

perm tour and let you drive it -- personal tour. stuart: that's an intriguing prospect, trevor milton. i'm very glad you're a fan of the show, and we wait with interest to see your product on the market. trevor millson -- >> thank yous so much. stuart: thanks very much. check that market, we've come back a bit, i'm afraid. we were up over 800 points, now we're up just over 500. that's a 2% gain after a whopping, great big drop yesterday. i want to talk about disney. lauren, come into this, please. what's the problem with disneyland in? what's the problem with their reopening plan? lauren: well, let me read from the petition that wants them to delay their july 17th opening, 20 plus thousand people have signed this. reopening before the second wave even hits us is irresponsible and greedy. well, at least nine counties in california having reported an increase in infections, disney has been closed for three

months, but this is california, stuart. walt disney world in florida, they're opening before disney, and i haven't seen a petition for them to delay that opening yet. stuart: i don't expect a petition in florida either, quite frankly. lauren: you don't have to go to the park. stuart: exactly. lauren: you know? it's been closed for three months. stuart: yes, absolutely. you don't have to go. nobody is forcing you inside. it's not like that. i tell you -- [laughter] lauren, thanks very much, indeed. you know, my head's exploding on a variety of issues today. disney, the petition. seattle, anarchy. you name it. i'm on it. allentown, pennsylvania, dire straits. major budget shortfall, asking for help from the feds. we're going to take a look at the struggles of small town america on this program today. a college apologizing for letting police into the building during the protests to use the

bathroom. can you believe that? campus reform's -- this is another one, my head's exploding -- cabot phillips will sound off on this next. just over a year ago,

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>> first, we're aggressively pursuing economic development in minority communities. second, we're confronting the health care disparities including addressing chronic conditions. third, we're working to finalize an executive order that will encourage police departments

nationwide e to meet the most current professional standards for the use of force. and, fourth, we're renewing our call on congress to finally enact school choice now. stuart: all right, that was the president. he was in houston yesterday. he was outlining a plan to reform -- for reform racial disparity, that's what he was talking about in houston yesterday. now, college students around the country are calling for their colleges to cut ties with local mrs. police departments. this is all part of the defund the police operation which continues to grow. listen to this, in boston berklee college of music is apologizing for allowing police to use their bathrooms. here's what the school's public safety department actually said, and i'm quoting: we are deeply sorry for the impact this has had on our community and for perpetuating feelings of oppression, silencing and

marginalization. cabot phillips is with us, editor-in-chief of the campus reform organization. i just read the berklee college's statement there in a sarcastic tone. could i be accused of condescending and marginalizing people? would they accuse me of that? >> you absolutely could be, i think you will be, stuart, by the end of this show. you'll have people calling for your head because in the minds of many of these far-left activists right now, if you are not totally in line, then you're totally against them. and that's what universities are terrified of right now. we see a lot of schools around the country, ohio state, columbia, georgetown, northwestern in chicago where they just had a record number of people killed, you'd think they want more police, they'rer the tied of -- terrified of being labeled anti-criminal justice reform or in this case pro-racism. so the universities bow down at the first -- because they want

to be in lock step with them, show their social justice yes eden,s to their students, so they are bowing down to the outraged mob. this is going to be a growing thing, and for someone like your thinking with logic of how insane it would be to remove police from an entire college campus, that's not how they're thinking. they're thinking through this in the mindset of whatever i propose that's the most extreme will show that i'm the most dedicated, and that's why we see this. stuart: i can't believe that on any college there is a substantial majority of students which feels like this. it surely has to be a smaller group which is really intimidating the whole campus. that the way it is? >> i think you're exactly right. there is a bigment of pressure -- amount of pressure to go along because students don't want to be seen to their peers as pro-which in pro-cop. there's a recent poll we covered where two-thirds of americans and many college students actually said they've proposed

this type of proposal, but at the same time they're not speaking up because the worst thing to be label on a column damage pus a racist -- college campus is a racist or a bigot. i think it's just, it goes to show how the people most excited about this right now are criminals. they're very excited by this proposal. i think african-americans, though, are terrified of speak up against the insanity of it because they don't want to look like they aren't in line with these proposals right now. stuart: i would suggest that instead of going back to the campus this fall for the next semester, stay home. find a safe space at home but, please, don't pollute our campuses like this. that's my opinion, cabot. you don't have to agree, but i think you probably do. cabot phillips, give my best to your dad, and you come back on this program pronto, okay? see you soon. [laughter] you gotta smile. you just have to. allentown, pennsylvania, once helped from the -- wants help from the feds. the city's expecting a massive revenue shortfall. christina parts nevilleless is

there, and she's got this report for us. what have you got, kristina? >> reporter: you have a situation, allentown, like many small towns across america, want relief, and they didn't qualify. that $2 trillion package from the government, they're just too small. this is the third largest city in this state, and places like this are shutting down left and right. this one is actually selling its furniture. why is that? why aren't they getting any extra help from the government? because they're too small. you need to have at least 500,000 people living in your city, county, town in order to qualify. that's why they're anticipating a revenue shortfall of about 40% which would mean roughly a loss of $9 million in their budget. we know allentown are trying to reinvent themselves. it used to be a manufacturing hub and is now trying to push to get small businesses to come here. i spoke to one adopter who today -- developer who told me he still believes there's lots of opportunities for larger corporations to move out to the smaller towns.

listen to what he had is is to . >> the companies are saying what are some great small cities that have a really competitive cost of living where i can hire labor competitively and not be so reliant upon the new york metro area, for example. >> reporter: well, given the fact that this is a town that hasn't received the funding and right now we know that the coronavirus relief fund is possibly stalled again on capitol hill, it means that town are going to have to make some big decisions, and that means cuts. i spoke to a councilman who told me they are, unfortunately, laying off staff, there's going to be some road closure projects that aren't going to happen, reduction in budgets across the board, and it's really just the major story across america, these smaller towns that believe the money is going to larger municipalities instead of hometown america, and they're just asking for help. stuart: we hear you, kristina. great report. thank you very much, indeed.

allentown, pennsylvania. now, i am told -- [laughter] i am told that there are some folks who just can't look away from social media even when it is constantly negative. why can't we look away? we've got some reasons for you coming up next. and this was the scene in georgia, long lines for hours, massive problems emerged with voting machines, and the whole polling process in georgia. ohio spending millions to try to get it right in their state. now, we're going to detail what they're doing now in ohio to prevent this happening to them in november. we'll be back you doing okay?

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stuart: for those people on social medi, it doesn't matter how miserable the feed is that's coming at you. a lot of people just can't look away. so i am told, not being the user of social media myself. but kurt can knudsen, the cyber guy, is with us. have you got a reason why we can't just get away from the negatives? >> i do, stuart, good morning. it's the whole thing about you're on the highway, there's an accident, and rubbernecking starts to happen. the same thing happens on social

media. guess what? the tech companies, big tech, they know it. so what do they keep doing? when they realize that your attention has gone to something sensational or that's just this doom and gloom message, they feed you some more because they just want -- you're just a number to them. they just want you to engage more and more and more. so the more you engage the kind of doom stuff online, the more you're going to see it. it's simply part of the algorithm of big tech to manipulate your lives, to give you what -- stuart: hold on. >> -- not what you want, what they know you're going engage. stuart: hold on. this is not, the origin of this problem is not big tech. the origin of this problem is all the negatives which are pumped out. not by big tech, but by the fringe groups that are out there trying to outrage you. it happens all the time. look, if i did social media -- >> true. stuart: -- i'd be glued to it as well. i just choose not to be. >> and thank god it's friday,

because then we can actually learn from this segment and say, all right, i'm going to put down my phone, i'm going to put down facebook and twitter and instagram and take a little break this weekend. i'll ask you after that little break ask yourself, do you feel were better or do you feel more doom and gloom? stuart: good question. and real fast, another thing i don't do is order in food, but i am told that a lot of people are getting sick and tired of the delivery fees for delivering food. do you have a number on this? >> you know what? i think a lot of people, consumers don't understand the fee structures. so consumers are hit with fees, but restaurants -- the whole restaurant industry really is paying anywhere from 20-30% per order that goes out the door to be delivered. you and i are a paying a delivery fee and often times, you know, it's just so subjective. you don't even know what the fee is going to be, and they sometimes jack the prices up. there are consumer-facing web

sites like food boss that'll helping a aggregate what's the cheapest way to get it to your house, and they'll show you, but restaurants are not making a big profit margin even pre-pandemic time. stuart: yeah. 20-30% is ridiculous. okay, maybe you need -- >> then you have municipalities that are limiting that. stuart: all right. i'm not going to put my phone down this weekend, but i hope those on social media do. kurt, thanks for joining us. >> good to see you. stuart: all right, look at this. this is what's happening now in a major americanty. i call it an since ex-. -- sincing rex. that is seattle. the local mayor says, oh, that's just patriotism. i'm going to take that to piece after this. (music)

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stuart: all right. 11:00 eastern time. we've got a very interesting situation shaping up here. remember, please, the dow was down 1,861 points yesterday. this morning, it opened with a gain of 800 points but look, we have been cut to a gain of just 260. edward lawrence joins us. edward, do you have the reason why the gain this morning has been cut in half? reporter: yeah, i get to be the bearer of bad news. it's on the federal reserve. this is a report related to their fed listens event, where they went around the country gathering information as to what's happening around the country. in that report it came out from the last few events, talking about low income neighborhoods and the jobs for those low

income neighborhoods, because of where we are in the economy, would be slow to return and workers in the service industry have been significantly affected, it goes on to say, travel, dining, for example, some of those job losses may be permanent. that i think is where the market grabbed on to this and is starting to go south and there's a number of other negative things in this fed listens report, but that big job one there, that may be slow to come back, that could mean those folks would then turn around, be slow to start spending money again. so this negatively impacted the markets. back to you. neil: he . stuart: thank you very much for that report. we were all wondering why did we go from plus 800 to plus 270. that's the good reason there, from the federal reserve. slow to return for many jobs and permanent job losses in various parts of the country. edward lawrence, great report. reporter: in some industries, talking about travel and restaurants. stuart: but you explained that very well. now we are up 260. got that. all right, everyone. now this.

this is what's happening now in an american city. this is what the world is seeing. this is what you are waking up to. an insurrection in seattle. now, in elite, polite society, the occupied downtown is called an autonomous zone. it's really a no go area for police. the rule of law, overthrown. yes, it is an insurrection. the mayor, jenny durkin, says it's okay for the people to challenge authority. it's patriotism, she says. patriotic to reject and throw out the rule of law? that is a stretch. oh, what a mess this is. the center of an american city has been turned over to the anarchists and liberals, they don't know what to do. i think they're embarrassed. this insurrection is their creation but they have lost control of it. in seattle, the police left the precinct, removed files and equipment, and turned the

building over to the mob. who is going to take it back and how? this is what happens when big city mayors turn a blind eye to violence and looting. the police get the blame, looters go free, nobody cares about burned-out small businesses. america's big cities have become victims, victims of their own liberal leadership. that's the local level. local level. what about the presidential level? here's what president trump told fox news. roll tape. >> if they don't straighten that situation out, we're going to straighten it out. what i mean is very simple. we're not going to let seattle be occupied by anarchists. stuart: all right. imagine this. a president threatens to take back control from the anarchists and that is considered inflammatory. oh, my. all right. now look at joe biden's response. roll that tape, please. you've got to see it. >> even dr. king's assassination did not have the worldwide

impact that george floyd's death did. you know, the rapidly rising in with, i don't know, it's just inability to focus on any federal responsibility. i'm beginning to get bored by my own talk here. stuart: i thought that was astonishing. that's his response to this. the insurrection in seattle is actually a problem for democrats. america does not look kindly on burning looted cities and there's very little time for anarchists' takeovers. this is happening in democrat-run areas. they really should learn the lesson as we say again, of 1968. back then, cities were burning, the media hated the republican candidate in that year's presidential election, richard nixon. he stood for law and order and guess what? he won. boy, it reminds me of all those

years ago. i want to stay on this and bring in the editor-at-large of what's that, the post millenial. sorry, got that right. andy, you have seen this first-hand. what's it like? tell me. take me inside that occupied area. >> well, it's pure anarchy. this is a territory that the city of seattle has essentially ceded to anarchists, communists, social justice warriors, antifa, all these far left extremists have come together. the city of seattle has let it happen. it's literally a no go zone for police, from my sourcing on the ground, police are instructed to stay away completely and actually, if there are calls from inside that area, the only way you can get help is if you leave it. stuart: the "new york times" in an article this morning suggests

that it's almost like a party there. oh, free food, everybody is having a good time. from your sources inside the occupied zone, is it really like that? >> well, that's part of it. that's part of the propaganda and p.r. campaign they put out, that they want to make themselves look like they're just peaceful protesters, but if you look at all the messaging, the businesses inside there are not just boarded up but also vandalized and the spray paint messages are calling for police to be killed for destroying the united states, for destroying capitalism. these are not the type of messages you see at a typical block party and the fact that they -- what's probably most disturbing is seeing how the entire police precinct there is boarded up and fenced off, and people have camped out in front

of it, this is how they are claiming victory. from what i was hearing from my sourcing who was inside the camp, the people inside were celebrating that the mayor and governor of washington state came out and defended them. stuart: i find it absolutely extraordinary. andy, thank you very much for joining us this morning. we really want to know what's going on inside there. is it the kumbaya summer of love that the mayor says it is or otherwise. you straightened us out. thank you very much for joining us. we do appreciate it. thank you. >> my pleasure. stuart: there's another big story today. it's called the markets. and money. the gentleman now on the right-hand side of your screen is marc tepper. all right, marc, big smile, you said the market needs a breather. well, we got a big breather yesterday and we don't see much of a bounce back today, so is this the breather, is this the start of something big? >> so i mean, yesterday was quite the bloodbath, without a

doubt. if you look back a week ago, last week's stock market, we were at a level where it was literally the most overbought we have seen it in 30 years. now, that's a good thing and a bad thing. the bad thing is that selloffs like we just experienced yesterday, they are just waiting for an excuse to happen. you see covid cases flare back up a little bit, you have the fed maybe having a little more realistic perspective than a lot of these fomo traders who think stocks only go up, then there's still a big disconnect in the employment situation so the economy reopens, the unemployment rate comes down, but there's still millions of people filing new claims every single week. so something doesn't jive. now, once there's blood in the water like what happened at the beginning of the day yesterday, the algos start to kick in and just exacerbate everything. but when we look at the positive side of things, the average draw-down after a big rally like this off a major low is about 10%. so there's going to be a lot of support in that 2900 to 3,000 range on the s&p, and also, the level of momentum that we saw

last week are bullish, not bearish. so even though we were overbought, that is bullish. forward 12-month returns from that point going forward are positive 12% so we are still in a good strong uptrend here. stuart: okay. have you bought anything at all this morning? >> nothing this morning. i think we would be looking to add to our positions when the market comes down a little bit closer to 3,000. we like to see it 2900 to 3000. we begin adding back to more positions. right now, the market is still in a strong uptrend which makes all of these pull-backs buyable. right now is the time where you need to identify all those stocks that you were kicking yourself over a week ago, two weeks ago, for missing out on them, come up with a list and get ready to buy them when the price is right. stuart: are you troubled at all by this word from the federal reserve that we are getting this morning, they have been asking people around the country, federal reserve in different parts of the country, and the reports that are coming back are

that there's permanent job losses throughout the travel industry, and some service sector workers will be very slow to return, poorer neighborhoods in dire straits, that's painting kind of an ugly picture of the resurgence of the economy in the third and fourth quarters. that trouble you? >> it doesn't trouble me. you know, we do expect that there are going to be some permanent job losses. i don't know how much, by our estimates, you know, there may be another 5%, 6% permanent job losses but the economy is forced to evolve right now, so if we lose some jobs in certain industries, hopefully the way things should work is other industries start to grow, they start to mature and they become job opportunities elsewhere. so that's what we would expect to happen. quite frankly, the consumer has proven to be pretty resilient, right? mortgage applications for home purchases were up 13% year over

year so people are buying homes right now. so my take is, i mean, i booked a trip to vegas last week, as soon as vegas reopened. okay? so look, i mean, people want to get back out, they want to enjoy themselves. i do think the fed might be underestimating the resiliency of the consumer just a little bit here. stuart: real fast. give me, stuart varney, some advice. i mean, i'm in my 70s, and i'm thinking of taking some money out of stocks and putting it into real estate, investment real estate, not commercial property, a single family house, something like that, in florida. what do you think? >> for your own personal use? or for an investment? stuart: for my own personal use. >> go do it, buddy. stuart: as an investment as well. what i'm talking about is a switch in asset, asset allocation switch, away from stocks where all of us have done pretty well, maybe into real estate which will start climbing in the near future. that's where i'm coming from.

>> so the biggest thing i'm seeing when you look at the difference between real estate and stocks is liquidity. stocks, you can sell them pretty easily and you can get cash tomorrow. real estate's an illiquid asset. i do believe that given everything that's happened over the course of the last few months, cash is king, liquidity's important, and when you look at it from that perspective, i would prefer stocks over real estate. stuart: okay. well, you are 40 or 50 years younger than i. i will let you get away with that. we are not going to go into precise numbers here. mr. tepper, it's always a pleasure. come see us again soon. >> have a great weekend. stuart: you, too. thanks a lot. i will put dick's sporting goods up on the screen for you. the stock is up 6%. they have resumed paying a dividend. this company, now remember, please, this company pulled semiautomatic guns from the shelves back in 2018. earlier this year, they announced 440 additional stores

would stop selling guns so the rally in the stock is about restoring the dividend, not about the big increase in demand for guns. got that. dick's at $38 a share. lululemon. now, they saw a sales drop of 17% during the pandemic. we all thought they were going to do real well selling yoga pants. apparently not great. the stock's down 13 bucks. that is 4.3% on the down side. take a look at hertz, car rental company. wait a minute. the stock is up 32%. ashley, i thought they were supposed to be bankrupt. ashley: well, they were but joining in part of a surge, if you like, for rebound stocks. optimism that the economy, air travel will eventually recover, therefore rental cars. they are in bankruptcy but this is unique. the company proposing to sell some 230 or 260 million call-in shares. who's going to buy it? at one point back on may 26 it was 56 cents.

now it's, well, as you see, up 37% today. what they are hoping is a unique opportunity to sell shares and use that money to cover debt. now, hertz says it will warn any potential buyer quote, the common stock could ultimately be worthless. my question to all of this is who on earth is going to come in and buy it, and by the way, all of this has to be okay'ed by the bankruptcy judge. they say look, our stock's going up. let's see if we can sell some shares and get some money to cover those debts. very interesting. bizarre. stuart: bizarre. that was the word i was looking for there. my recall isn't as good as it was. i couldn't quite get it. bizarre is good. ashley, thank you. all right. look at the white house, please. it's still standing. we now know the president will accept the republican nomination in florida. watch this, please. >> it's going to be the perfect setting, his home state, to push that greatness, that transition to greatness message that the

president is pushing out. stuart: okay. so much of the convention will be in jacksonville, florida, but jacksonville will not get the entire convention. no. we will explain that one for you. and more than half a million people boarded planes on thursday. that is the biggest crowd, if you can call it that, since march 21st. that's a sign of recovery. now airlines hope new health checks will encourage more people to fly. we will cover all of that for you coming up. big increase in passengers, though. we showed you these hour-long lines to vote in georgia. now other states are scrambling to come up with plans to avoid that. don't want that to happen in november. we will find out what ohio is doing after this break. ♪ ♪ ♪

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stuart: in the midwest, a number of cities are seeing population decline. grady trimble is out there in rockford, illinois. grady, look, how many people are leaving rockford and why are they leaving? reporter: here in rockford, 5% of the population left between 2010 to 2019. decatur, the third fasting shrinking city in the country, lost 7.1% of its population in the last decade. these two cities share some of the same history as many rust belt cities. they were once booming manufacturing and farming towns but as the jobs disappeared, so did the people. the unemployment rate right now here, higher than the national unemployment rate and illinois obviously has relatively high taxes as well. so that doesn't help either. but i talked to people here in rockford and they tell me they are seeing a transformation as well. there are jobs at big companies like amazon and ups right up the road and they are also working to revitalize downtown but it's not just the small midwest

cities losing population. it's also the large ones. four of the five fastest shrinking large metro areas are in the midwest as well. so where are they going? i'm sure you know the answer to that, stu. it's places with sunnier skies, both figuratively and literally, places like arizona and texas, where the taxes are lower and the temperatures are higher. stuart: i think taxes are the key to all of this. i mean, why pay an astronomical amount of tax in illinois when you can just head south and pay no income tax in florida, et cetera, et cetera. that's the story. taxes. they will never learn. grady, thanks very much indeed. allow me to ramble on here, okay. i want to get to that primary in georgia. we showed you long lines of people waiting at the polling stations and some areas had real problems. georgia spent $100 million on voting machines which poll workers didn't know how to use.

a lot of poll workers would not go to the polling stations because they were worried about the virus, and therefore, there were crowds of people waiting for hours to get in and vote. let's hope there's not a reaction or we don't see more of that in november of this year. ohio faces similar problems. they spent a lot of money trying to -- i think it was $114 million, trying to make sure the same problems don't occur there. the gentleman on the screen right now is john houston, the lieutenant governor of the great state of ohio. are you going to avoid georgia's problems, lieutenant governor? >> well, we think so. because we installed these machines several years ago. we did it in an off-year election where we could train the poll workers, where we could test the machines. now they have been tried and tested. the people are trained. so the technology should not be a problem. where i think all of the country needs to be wary is if you have a resurgence of coronavirus in

november, will all of the poll workers you have signed up actually show up and we are building contingency plans for that in ohio. stuart: i've got a problem with mailing the ballots in. because if everybody gets a mail-in ballot, and everybody uses them, that could be possible, you're not going to get a result on election day of the election. you're not going to get a result. you are going to get challenges, was this signature correct, was that address correct, should this person have voted, should that person not have voted. i think the mail-in ballot is the big problem. what say you? >> well, it depends on how you do it. we have had mail-in voting in ohio, we had an all of the above system. you shouldn't sclexclusively haa mail-in system. send absentee ballot applications out, let the people who want to do it that way apply, make sure, as we do in

ohio, you are checking to ensure only the people who are requesting the ballot are the ones that are voting using that ballot, double-check it. we get them in in advance. you are required to do that if you vote by mail. those are literally the first ballots that are counted on election night in ohio. there's a way you can do it that makes sense. you've just got to make sure all the states actually do it that way. stuart: okay. understood. on this program we are big on the recovery and reopening and how economies are coping. i notice that unemployment claims, first-time jobless claims in your state, were at 275,000 in the last week of march and they are all the way down to 35,000 in the week ending june 6. that's real progress. i guess your reopening is going well. >> yeah, it has. we have not seen a spike in cases of coronavirus. and unemployment rates are beginning to drop. we have more people coming off unemployment than who are applying for it. that's welcome news. it's happened much more quickly

than we anticipated. we make things in ohio, cars, applianc appliances, things like that and people are coming back to work. it's a really positive sign for us. we just didn't expect to see it quite so soon. stuart: no sign of a hot spot that would bring back another lockdown? >> look, we are always wary about that. that's why we want people to still be thoughtful, to go back to work with the right kind of safety precautions. our employers in this state have been great. they have embraced it. they said look, we want to go to work, we want to create a safe environment for our employees and get the economy of the state going so it's been a great effort between employees, businesses and state and local governments to make this thing work. we hope these great trends will continue. stuart: mr. lieutenant governor, thanks for joining us this morning. we appreciate it. thank you, sir. >> great. nice to be with you. stuart: okay.

mixed reaction after banning the confederate flag in nascar. watch this. >> we just need to love and less hate. that's what it's all about for sure. >> it's just history. it's all it is. it's a piece of cloth. it just represents history. stuart: coming up, we ask a nascar driver what she thinks of this new rule at the track. now, you know those airport spas you can get your back rubbed, get a massage? they are reopening and trying to bring people back to those spas with covid tests. is that going to work? we will approach the subject next. ♪ ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey

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stuart: it's not much of a rally after yesterday's big drop. 1861 down yesterday, up a mere 220 as of right now. but a lot of green out there. not much of a bounce-back. eight states are easing restrictions as of today. i will go through some of the big ones for you. california, campgrounds, hotels, gyms, will reopen in several counties. not everywhere, but several counties. hollywood starts or restarts some production today. georgia, you can once again go to an amusement park and to carnivals. that is the state of georgia.

and phase four begins in indiana today. malls can open at full capacity. listen to this. restaurants can go to 75% of capacity, bars at 50%. real progress there in indiana. now, a head line for you from the "wall street journal." here it is. how new york's coronavirus response made the pandemic worse. lawrence jones is with us. all right, lawrence, i'm sure you have seen this article. it says governor cuomo matede a litany of mistakes, sometimes with catastrophic results, yet the governor is a media star. your reaction to that? >> you know, that's interesting because for weeks, we were taking, all the media agencies, were taking his press conferences. he had his power point up for the public to see, but as we begin to dig into the data and look at his leadership, he really didn't do so well. what the "journal" points out is

there was an overreliance on the federal government. he was not prepared when it comes to some of the standards, obviously he's under a lot of criticism when it comes to the nursing homes as well, and also, there is the beef that he had between the mayor bill deblasio as well that kind of got in the way of coordination when it came to new york city. so there were so many issues, we didn't know about them at first, stuart, but we've had a little time to digest the information and look at the data and maybe he didn't do so well. stuart: but he's not getting bad press now. even though i don't think he did very well, but he's still a media star. he is still looked up to as the better leader during the virus crisis. look, i think this is basically about the media, its contempt for president trump and its love of just about anybody else who opposes the president. it's a direct split, lawrence. it's not going away.

>> well, to be fair, the media is all about liberals. we know what we are going to get from them. but they didn't have a national candidate. joe biden wasn't the guy. so andrew cuomo became the de facto leader when it came to the democratic party, to their response to the coronavirus, so you know, we got the data now. i mean, they really didn't need the ship, the president granted for them. they didn't have testing. they didn't have the beds. didn't have the ventilator. i mean, they pretty much asked the federal government for everything and the media of course is going to lean to the left on this but they needed someone to have some national presence and that was cuomo. stuart: yeah. yeah. i'm tired of it, lawrence. >> disgusted. stuart: i'm just tired of it. i will bet you are going to be tired of this. i'm about to let the audience see and listen to what an nbc host asked senator tim scott. roll tape, please.

>> some have said that your party is using you, they have even thrown around the word token as well. your response? >> i'm also the only person in my conference who has been racially profiled driving while black. i'm the only one in my conference that's stopped seven times in one year as an elected official so if there's someone in the conference who understands discrimination and profiling, it's me. so i shrug those comments and criticisms off but you got to know if you are a black republican, you are like a unicorn. stuart: lawrence, restrain yourself. >> disgusting. stuart: it was. it was. restrain yourself if you can. >> i'll try. but it was disgusting on many levels because this didn't start right now when it came to tim scott. he's the first black republican senator since reconstruction, okay. and to his credit, he's been leading the way when it comes to criminal justice reform, policing. he has an entire group called

empower that he focuses on outreach to the black community. so this is not a token. this is a guy that not only talks about things but lives out what he preaches. so for a black man to get on the network like nbc and come after him, i know craig. i think he's normally a good guy. but he shouldn't have asked that question. i mean, this is somebody that experiences the same type of questions that tim scott experiences as well. so to feed into that what's disgusting for me and by the way, ask any democrat that is on the hill today about tim scott. he's led on this issue. he has presented more legislation to affect the black community than they have. so again, i will put his record, i mean, tim has not asked me to do this. he's a grown man. he can defend himself. i hate that it happened to tim because we need him on capitol hill. he's led on this issue. stuart: lawrence jones,

admirable restraint. i don't know how you do it. you're a good man. i don't care what they say. >> thanks, brother. i appreciate you. stuart: see you soon. >> thank you. stuart: thank you, lawrence. take a look at boeing, please. they are telling one of their suppliers to halt production of some parts for the max jet. not hurting the stock. it's up 6%. of course, it was down 16% yesterday. $181 on boeing right now. the airlines, all over the place. where are they today? bouncing back. i mean, talk about volatility. okay. they are coming back a bit today but they have been beaten down and risen up and beaten down. that's called volatility. you are looking at it right now. next case, xpresspa. those are the spas you see just about in any airport, the back rubs and massages. they all shut during the pandemic. now they are trying to reopen

and are offering virus testing in the spas. maybe that's to try to get people back in the spas. look who's here. doug saltsman, ceo of the xpr s xpresspa group. you are starting this at jfk in new york city but my question is this. how fast do you get the results of these covid tests? because if i don't get the results real fast, i'm still going to get my massage, still going to get on the plane even if i'm positive. how does this work? >> well, we are starting with airport employees and airline employees as our first target audience. this is the front line workers who are the most important to keep this very important piece of apparatus of the american economy intact, especially when they recover. our testing results will be back in a day, maybe a second day. we have not started with the quick test because they still don't have a lot of data to show

how reliable they are. but we will be able to get results back in the next day or two. we have two types of tests, pcr testing, the nasal swab as well as the blood antibody test. it will be up to the employer to decide. stuart: you must have taken a hit during this lockdown period. you must have. did you get any help from the government? >> all of our spas were deemed nonessential uses in every state, even in other countries where we operate, and the government often run these airports so many times, they have been able to give rent concessions, recognizing that our operations are closed as well as other concessionaires at this time. stuart: real fast, i'm sorry, are you going to reopen everywhere? >> we will, as airport traffic increases. so this covid testing we are launching a new line called express check. this will be run alongside our spas. starting with the pilot in jfk by the end of this month, then

opening in other airports as we work out terms. stuart: thank you very much for joining us. that's good stuff. good to see you back. thanks so much. see you soon. thank you. the republican national convention is headed to jacksonville, florida. the president will accept his nomination there in front of a live audience. i want to know, will they practice social distancing? we will ask. country star garth brooks will headline concerts all across the nation in just one night. we will explain how he's going to do that after this. ♪ want to brain better?

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state's open, america's open for business. stuart: there you go. the republican convention will be held in jacksonville, florida. president trump will accept the nomination right there. come on back in again his honor lenny curry, the mayor of jacksonville, florida. always got a good smile. look, obvious first question. what about social distancing? you going to have thousands of people, are they going to be allowed to get closer than six feet apart? >> well, it will depend on whatever necessary protocols we need in the interest of public health will be taken at that time. but here's what we know about our city. we are in phase two. businesses are up and running. we have numerous testing sites up in our city and while raw positives are up, hospitalizations are way down, percentage of positives are way down, so we believe that we have done everything right and we are on the road to full reopening of

our city and getting people back to work. stuart: your honor, would you mind if i just press a little here. >> sure. stuart: i can't imagine that president trump and the republicans would willingly go to jacksonville, florida unless you have given them an assurance that they can sit close together. >> we plan on having a full arena. stuart: that's it, isn't it. that's it. forget social distancing. if you've got a full arena, you're not social distancing. >> if you -- but if -- if circumstances change in the interest of public health, obviously the rnc, the president, myself, if there was an unexpected outbreak, health risk hospitalization systems couldn't handle it, we would obviously adapt at that point in time. but we are on the road to full recovery and we expect to have a convention that demonstrates that jacksonville is open for business. stuart: these conventions are usually about three full days.

as i understand it, the leading lights, the big -- the main speakers will be in jacksonville, but there will still be some activity in charlotte, north carolina. have i got that right? >> that's right. the rnc, they will be announcing exactly what remains in charlotte. my expectation is that it's very small. little bit of business and the big events, the economic drivers, will be happening in jacksonville and most importantly, president trump being renominated. stuart: how many people you going to bring to jacksonville and how much money is that going to put in your city coffers? >> tens of thousands of people, hundreds of millions in economic impact. it's also important that people understand, our taxpayers understand that these conventions are paid for by nonprofit tax deductible non-political organizations committee, where we raise private dollars to pay for this

convention. but our small businesses, our big businesses, we have managed to get out of covid-19 successfully. we continue to monitor it and take the proper protocols, but people need to be back to work. stuart: um-hum. is youof the republicans, is it popular in jacksonville? are you guys gung-ho to get the president down there? >> yes. but look, i would also say political parties oppose each other. so i govern a city of republicans, democrats and independents, and i govern my city without political affiliation. i govern all of our citizens. but when it comes to political elections, with political parties, particularly statewide or national elections, there are political divisions and that is what's healthy about our republic, about our democracy. we debate, we share our ideas, and then we hold an election. stuart: jacksonville is a free speech city and we love it. your honor, thanks for joining us again. we always appreciate it. come back soon. thank you, sir. >> thank you. stuart: okay.

different subject. i'm going to look at some stocks which are basically work-from-home stocks. after all, if a lot of us are going to be working from home for a long time to come, check out the stocks. slack, that's down just a tiny fraction, but octa up again, nice 1% gain. that stock has done well. microsoft is pushing up against $190 a share. big drop yesterday, but bouncing back nearly 2% as of today. look, while we look at these work-from-home stocks, look at this. queen elizabeth, she is on zoom. she joined her daughter, princess anne, on a video conference talking to front line workers about their struggles during the pandemic. 94 years old. welcome to zoom and the internet, your majesty. next case. she's still talking. check the movie theater stocks, because lauren, i need to know about this, garth brooks is coming to movie theaters.

that's different. lauren: drive-in movie theaters. so he had to cancel his 2020 tour, obviously, because of the coronavirus. so he said he's going to do one night only in drive-in movie theaters across the country. he's going to do about 300 theaters, starting the 27th of this month in ft. worth. all you have to do is buy tickets, they are $100 per car, per suv, doesn't matter. $100, pack the car and you can see garth brooks. stuart: i'm sorry. i didn't realize it was drive-in movies. that's -- we put regular movie theater stocks on the screen. it's drive-in. that's important. we should know that. thanks, lauren. nascar bans confederate flags from races just as it prepares to welcome back its first live audience in months. we have a nascar driver coming up next. i want to know what she thinks about the changes in the rules at the track. and because we don't know exactly when this crisis is going to be over and we don't know exactly when

the stock market will reach its bottom, we've got to be prepared for this to last a long time. if you assume that you're out of work for nine months but you end up only being out of work for...

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now, with everything that's going on in the world and the conversation kind of started off with how people will see the flag and it makes them feel a certain type of way, and it's just like let's just simply just get it away from sporting events. stuart: okay. there you have it. get it away from sporting events. the lady on the right-hand side of the screen is angela roush, nascar driver. obvious first question, what do you think about this confederate flag ban? >> you know, i got to be quite honest with you guys. i'm actually raising an african-american child right now with another one on the way. to be honest with you, i don't quite have an opinion on that. you know, all i could see at that time and now is the beauty that she holds. but now i understand that i definitely need to educate myself on all those issues and i can promise you i will do just that. stuart: all right. angela, that's an honest answer and i do appreciate that. thank you very much indeed. seriously. now, at the miami race, there are going to be some service members in attendance, so you are going to have some kind of live audience. i bet you are happy to see the

live audience come back again. >> oh, my gosh, all us drivers cannot wait to have our audience back. obviously the fans are what makes the sport who we are today, nascar, and without them, i definitely think it's missing a big part of us. definitely excited to have them back at the track this weekend. stuart: hang on a second. you race trucks, pickup trucks. we have it on the screen right now. i didn't know there was pickup truck racing. >> yeah. i race the truck series. i think the truck series is a sexy -- they are awesome. they are fast and i'm super excited to be part of it this weekend. stuart: yes. where are you racing this weekend? where? >> racing homestead. stuart: okay. okay. if i can watch, i will. i will be cheering you on along with the service members who may or may not be in the stands watching. angela, it was a real pleasure to have you on the show today. we tried for weeks to get you on. there's always something cropped up so we couldn't do it but at last, we got you on. right before you go to race.

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stuart: i never thought i'd live to see the day when the center of an american city was turnover and given control to a bunch of anarchists, but that's what we saw this morning in seattle

and the other big story is the market, look at this , please, nice bounceback. down 1,861 yesterday and back up maybe 200 earlier today and now we're back up nearly 500 points that's where we are this friday morning. neil it's yours. neil: let's see if i can screw this up i get an e-mail like that, i'm just telling your viewers now, plan on it, just plan on it. okay thank you very very much let's take a look at the corner right now of i'm joking i'm just joking but a lot of people are so literal about this but here we are up about 485 points and yes, some of you say oh, you'll find a way to trash this , neil. give me time, i've got two hours all right, it's the making of a little bit less of the third of the ground we lost yesterday, and some of the issues that we're getting really hammered, are coming back and they include the airline issues, the