maria: thanksing for joining us, every, dagen, john, cabot, great to see all of you, thank you. >> thank you. maria: we've got a rally underway, dow industrials up almost 1,000 points, markets responding to that great retail sales number. right to "varney & company" we go. stuart: good morning to you, good morning to everyone. let's get on with it because this is one of those hard to believe days. a huge stock market rally, more money printing from the fed, maybe a trillion dollar infrastructure program. plus an improvement in u.s./china relations, a breakthrough in virus treatment using steroids. big jump in retail sales last month, and we're also covering the disaster known as baseball. we've got it all. but we'll start with this, the dow looks like it's going to be up close to 1,000 points at the opening bell. that would be a gain of over

3.5%. the s&p, a similar gain, about 2.5% there. and the nasdaq composite up just with over 2%. that is clearly a rally. helped by the federal reserve's bond purchases, that's money printing, a report from bloomberg on a possible trillion dollar plan for bridges, roads and 5g access in rural areas, that's the stimulus plan, a new one. also helping, really helping, news from an oxford university study, a breakthrough in the treatment of the virus using steroids. it significantly reduced mortality. we also have the rapid opening up of businesses all across the country and maybe an improvement in u.s./china relations. mike pompeo meets senior chinese officials in hawaii tomorrow. and then there's this: retail sales in may up 17.7%. that reflects the partial reopening of some stores. it is a very strong number. the president just tweeted about

it. i'll read it for you. wow, may retail sales show the biggest one month increase of all time, up 17.7%. far bigger than projected. looks like a big day for the stock market and jobs. one more time, this market is going straight up. you could see a gain of 1,000 points, pretty close to the opening bell this morning. that's the market. that's your money. what a day it's going to be. and then there's this, if you want to see a truly dysfunctional sport, look no further than baseball. there may well be no games this year. the players' union and the owners are deadlocked over money. the commissioner calls it a disaster. so here's a sport that's already in decline, and it's in the process of shooting itself in the foot. what a day. a huge market rally -- that's what we're all about today. "varney & company" is about to begin. ♪ ♪

stuart: well, straight to this fox alert, researchers in england have evidence that a steroid can improve survival chances. the gentleman on the right-hand side of your screen is doc siegel. doctor, i'm reading from the report here. 2,100 patients in the study improvement in fatality rates by 35% in patients who were in veer severe need of treatment, breathing machines. is this a real breakthrough? >> this is a big deal, stuart. this is a breakthrough. over 2,000 patients at oxford university got the treatment, over 4,000 did not. the death rate decreased by 35%, and i'll tell you why. it's a steroid. it decreases inflammation, and that's what the virus does to very sick people and to people on rest raters. it causes inflammation in the lungs. it's not a surprising finding, it's not a cure, but it's a very

positive pathway for us to go for very sick patients. now, after this study, if you have covid e 19 and you're in the icu, this is a drug you should definitely be getting. it improves the outcome. very good result. stuart: stay there, please, doctor. i want to get back to the market because this is an explosive rally right from the get go. we're going to be up 800, 900 points, maybe 1,000 points soon after the opening bell. see it on the left-hand side of your screen. look at the retailers. we've got a big rally because of the huge jump in retail sales in may, nordstrom, kohl's, bed bath and beyond, the gap, all of them way up in percentage terms. how about that infrastructure plan? may be worth a trillion dollars, may be coming soon, that's giving a boost to steel merricks, construction-related stocks, steel dynamics, look at 'em go. look at the airlines. i mean, we are improving this

get back to work kind of thing, and they're all up, again, in bigtime percentage numbers. the cruise lines, psalm story. it's a sea of green, up 11, 13, 10%, the big guys. and big tech, where are they this tuesday morning? on the upside, significant gains across the board for our major corporations. and look who's here. mike murphy is with us. now look, mike, there's all kinds of reasons for the rally today, but you're saying that president trump has a lot to do with this. you're calling this trump rally again? >> good morn morning, stuart. yes, you look at what the president has done since the beginning of the year, we got hit, behindsided by the coronavirus -- blindsided, and now what the administration is doing, the president understands business. and what he's doing by having the fed is out there supporting businesses, now he's supporting that by having this new

infrastructure plan that's coming out. i know he's a fan of your show, and i'd just like to say that the president's doing right now is great for the market, it's what we expected him to do, and that's why we've been saying we'll see new highs. and they're coming a lot sooner than later, stuart. stuart: in the immediate future, right, we've got new highs are coming? >> absolutely. look, we talk about big tech leading us there. they're there already. the apples, the microsofts, the facebooks, they got up to new highs already. now what you're doing is you have a market where people want to go out. you see the retail sales numbers, that gives you an insight into the mindset of the american public, the black, the white, the blue, the green, people in the united states want to get out from their homes, they want to use their money, they want to spend their money, they want to get those jobs back, and they want to get back

to building the best lives they can possibly build. retail sales is a big driver, but the market, yes, the president is steering the economy, and the market is following too. stuart: mike murphy, right again. thank you very much for joining us. now, let's get to mcdonald's. sales were actually down, but, ashley, come into this, please. things are really improving. tell me. ashley: they are. same-store sales in may down a little over 5% but compare that to april e when they were down 192%. so they're -- 19.2%. they're heading in the right direction. overall for the quarter they are down 12% and when you pull it out to globally, those same-store sales down nearly 30%. so a long way to go yet, but many of the restaurants, 95 of them, 95% of them are open globally in some form or fashion whether it's drive through or pick-up delivery. but mcdonald's say sequentially with each month

gold. apparently, not that much. number one, north korea blowing up an office building near the dmz that's used for talks with south korea. the building was empty but still that is an escalation from the north. and then there's the india/china border. 1,012. boeing, premarket, that stock is

up 8.9%. it's been all over the place recently, but that will really help the dow because boeing is a dow stock. look at amazon following that remarkable retail sales number, up 17% in may. we're above the $2,600 a share mark right now. remember, please, one tech watcher said it's going to go to $3,000 a share. all right, news is coming thick and fast. here we have from the airlines delta's up 8%. lauren, delta's bringing back flights to china, is that right? lauren: starting next week, delta is going to fly from seattle to shanghai, and right after that from detroit to shanghai. and a few weeks later, united will start their service to china. so it's going to be a total of four u.s. flights aing week to china and, of course, both sides is have eased their restrictions on allowing flights to each other's countries.

stuart: tell me about united. have they got a no mask, no fly policy? lauren: yes, they do. if you are not wearing a mask while you are on a united flight, they are going to gently tell you please wear your mask, nudge you a couple of times x. then if you decide you're not going to obey, you will be added to their internal no-fly list meaning you could be banned. they're not the only ones making changes. the trade group that represents the airlines says everyone is going to come out with some sort of stricter policy and punishment if you are not wearing a mask on a flight. an air marshal is not going to take you off, but you could be add to the no-fly list as a result. stuart: okay. next case, the mayor of new york city, bill de blasio, reportedly told virus tracers don't ask people if they've attended recent protests. doc siegel, come back in on this, please. this is a double standard, isn't it?

okay to protest, don't tell the tracker, but, no, you can't socialize. double standard, surely. >> not only a double standard, stuart, but it's a public health concern. look, somebody's covid-19 positive, right? a tracer comes to them and says where have you been and doesn't ask them proactively whether they've been at a protest, whether they've been in that crowd, who they've been in contact, who might have sneezed or coughed on them or come up close to them. well, that means you could have spreading within the protest and not know about it. it's exactly what we need the contact tracers to be doing, to be asking the right questions up front. absolutely unacceptable. stuart: you got that right. doc siegel, thanks very much, indeed. thank you, sir. check futures again, please. this is a rally, right from the opening bell. up 800 for the dow. question, is baseball out? the commissioner says the league is considering not playing at

all this year. this is just days after guaranteeing a season. we've got the story. did you see this? a reporter getting chopped by a protester in seattle? you'd better watch it now. roll it, please. >> [inaudible conversations] no, it's a very intentional purpose. >> it is not a street festival. do not say that. stuart: all right. i guess it's not the summer of love after all. what's really going on in seattle? we've got that story for you, and it is next. look, this isn't my first rodeo...

and let me tell you something, i wouldn't be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. it's just a loan designed for older homeowners, and, it's helped over a million americans. a reverse mortgage loan isn't some kind of trick to take your home.

it's a loan, like any other. big difference is how you pay it back. find out how reverse mortgages really work with aag's free, no-obligation reverse mortgage guide. eliminate monthly mortgage payments, pay bills, medical costs, and more. call now and get your free info kit. other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. discover the option that's best for you. call today and find out more in aag's free, no-obligation reverse mortgage loan guide. access tax-free cash and stay in the home you love. you've probably been investing in your home for years... making monthly mortgage payments... doing the right thing... and it's become your family's heart and soul... well, that investment can give you tax-free cash just when you need it.

learn how homeowners are strategically using a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be a part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. so you can... retire better. yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds.

in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. >> and you have a governor that doesn't do a damn thing about it, and you have a mayor that doesn't know she's alive. she's talking about it's going to be a love this summer. no, if they don't do the job,

i'll do the job. >> what can you do? >> about ten different things, any of which will solve the problem quickly. we're all set to go, we're watching the process. stuart: that was the president talking about the handling or lack thereof of the problem in seattle. sir, this is an insurrection, that's my opinion. what can the state do about it? >> well, good morning, stu, appreciate you having me on this morning. i agree. it's anarchy, it's self-ishness, it's inconsiderate of the people that are conducting this protest. i think there's a lot of tools available to the state. there's certainly our local police agencies, there's the national guard. but what we're lacking is the leadership to actually take alaska. that's where we're falling down, and that's what needs to happen. stuart: it seems like it's a

long-running, festering sore in the state of washington. >> well, i come from the other side of the mountains. i live about 175 miles east of seattle, and so, you know, those of us in the rest of the state don't like to hear that, but i think you're probably absolutely right when you're talking about the seattle area. there's a lot of great example ifs of how police -- examples of how police agencies, law enforcement agencies around our state are actually a model for the rest of the country on how to engage with their community. there's been some riots in seattle, but this certainly is not one of them. stuart: i want to get your reaction to a sound bite. this is an msnbc reporter scolded by a protester over how the reporter described the cop-free zone. listen to this for a second. roll tape, please. >> now you've seen, essentially, almost like a street festival type atmosphere -- >> no. >> a very -- >> it's not a street festival. >> with a very intentional purpose. >> it is not a street festival. do not say that.

shame on you for saying that. learn, right now. stuart: it's not the summer of love, is it, congressman? my question is, what does the rest of washington state say about this? they surely can't approve of what's going on in seattle. >> oh, i totally agree. i think people are appalled. people are very concerned that the breakdown in authority and the anarchy that's happening on the streets of our largest city, the actions of these individuals is what's been the focus here. their message, what their goals are, what their mission is has been totally lost by these irresponsible, selfish actions. and i think something, something kneads to be done -- needs to be done about this. not only are they being selfish, but they're being irresponsible and reckless by putting other people at risk. stuart: washington state is thoroughly democrat. there are very few republicans in the state and very little representation in congress for the republicans.

is that going to change because of what we're seeing in seattle? >> well, one would hope so. i think we have seven out of the ten members of congress are democrats, so only three of us are republicans. i would hope that people will see this as something that needs to change. stuart: okay. congressman, thank you very much for joining us this morning. >> absolutely. stuart: thank you, sir. >> thank you. stuart: yes, sir, thanks. have i got a number for you, listen to this, 79% of truckers say they plan to refuse shipments to cities that have defunded the police. jeff flock's with us. jeff, this is a trucker revolt. and it's about the truckers' safety, isn't it? >> reporter: well, it is. you know, it's a very dangerous profession, stuart, as you know already. we're at a truck stop in indiana, and truckers are, you know, they're not really one to talk out loud about this, but that poll that you mentioned, yeah. we've got some of the comments that they made on their web

site, cdl life.com, stands for commercial driver's license.com. one says i have already informed my dispatcher that i will refuse all loads to cities that have defunded their police departments. another says this is not an area you need to act fearless and think you're going to look like a fool for saying no. so say no to it. another one say ises if something was to happen and you have to take matters into your own hands, then you risk being prosecuted for protecting yourself. as i said, this is a dangerous profession. if you look at the bls statistics from 2018, one of the deadliest jobs, most likely to die on the job. that would be truckers, number one. then construction workers, ranchers and farmers and then maintenance workers. so, you know, there's some general concerns out there. they would point out, other truckers on the web site point out, listen, no police have been defunded or disbanded yet, but we need to be cognizant.

stuart: it's the start of something that a may progress forward. thank you very much. president trump will sign an executive order on police reform at noon eastern. here's what he had to say about it. roll tape. >> with certainly, we have mostly great people. i know so many of law enforcement. but we, we will do better, even better. and we're going to try and do it fast. we want law and order, and we want it done fairly, justly. we want it done safely, but we want law and order. this is about law and order, but it's about, it's about justice also, and it's about safety. stuart: oh, we'll bring you full coverage of that event when it happens live. we'll have it here on fox business for you. one more time, this is a rally right from the opening bell. promising treatment for the virus or among people who are desperately ill with it. stimulus program, all kinds of good stuff happening to propel the market higher this morning, and higher it is going, literally seven minutes from now. we'll take you to wall street after this.

♪ ♪ stuart: oh, you're going to like the market opening today. we're going to be up over 800 points. okay, have a look at big tech, a lot of action there. this is premarket, remember. they're all up and strongly, percentage terms.

look at apple, 351 there. microsoft up nearly $4. big gains there. now, we've mentioned apple. susan, they've posted big sales numbers from the if app store. tell me more. >> reporter: i think it's half a trillion dollars, that's how much was earned in the app store last year in 2019. now, $400 billion plus came from physical goods and retailers, i think the targets, the best buys. they accounted for more than half of this number, and then the other part came from travel, expedia and the u.s. air carriers accounted for $57 billion. uber and lyft around $40 billion. and this morning we should point out that the e.u. has launched two antitrust probes over apple's app store and also its use of apple pay. if found guilty in these probes, apple could face fines of up to 10% of their annual revenues over on the european side. and what the e.u. is looking at is whether or not apple, first of all, they take 30% commission on any app sold in its app

store, but that could be reduced to 15%, and if you're a pot firing uber or lyft, you don't get charged on the services you actually earn in the app its, but there is no other option if you're going to try to buy an app or get an app on the apple iphone. that'll be looked into because apple doesn't have that much market share when it comes to actual physical phones, but then also the apple pay part is you can order to buy some of these in-app purchases, you have to use the apple pay services. we'll see how this goes as we know the e.u. has antitrust investigations not only looking into apple, google, facebook p even amazon as well. stuart: wouldn't it be nice if the europeans were inventive enough to come up with their own apple or microsoft or amazon or google or whatever? >> reporter: i agree. stuart: they don't innovate. >> reporter: yeah. it's a cash grab according to a lot of critics saying, well, why don't you come up with your own

innovative technology companies instead of trying to tax money and trying to grab money from them on these so-called aunt trust grounds. -- antitrust grounds. stuart: i am an american citizen, is and i eject all that socialist -- reject all that socialist nonsense. all right. we've got one minute to go before this big rally starts, and it will be a big rally this tuesday morning. left-hand side of the screen, dow up about 800 point, s&p up nearly 80 point, and the nasdaq, close to a 200-point gain right there. what's going on? well, the market likes the idea that the federal reserve is going to start buying bonds -- printing a lot of money. the market likes the bloomberg report that we may have a trillion dollar infrastructure plan soon. the market loves the idea of real progress in the treatment of severely ill covid-19 patients. that's coming off the england this morning. that is really helping. and what i think the market absolutely loves is the 17% gain

in retail sales in the month of may. that compares to last year, may last year, up 17%. this economy, retail sector, coming back very, very nicely. here we go, the bells are ringing, and in 3, 2, 1, it stops ringing and the market opens, and here we go. where are we in the first few seconds of business? we're up 3.75%, that's where we are, 26,900. and on -- 26,600. and on the left-hand side of the screen, this is for the radio listen arers, it's all green. the dow's up better than 3%. the s&p 500, met me look at the -- let me look at the percentage gain there, it is up 2.7 %. very solid, indeed. and the nasdaq composite, that indicator is up 2.25%. what you've got here is a rally all across the board. i'm going to try to show you, try to pick up the big biggest winners on the dow 30.

boeing, dow inc., caterpillar, exxonmobil, american express, the list is long. the biggest winner is boeing. infrastructure stocks, they're doing very well, indeed, after that bloomberg report of a possible trillion dollar infrastructure plan. look at united states steel, up 8%. the airlines, well, they've been all over the place recently, mostly higher, and they're up again today. that's because we're getting back to work, the economy's growing again. maybe we're starting to travel again, but the airlines, all of them, upbig time, percentage terms. cruise lines, let's not spend too much time there, they're up, 10%, 10%, 8% for carnival, royal caribbean. big tech, up 350 at apple, up $7, microsoft is up 360, google's up 23, facebook's up $3.

and amazon, $2,610 per share. let's take a look at the retailers. again, the big number for may, sales up 17.7%. look at 'em go. lauren, you've done some digging. what are people buying? lauren: well, clothing and accessories. from april to may rose 188%. it's a huge number just in one month. of course, the annual number is still down, but this shows the economy is coming back. furniture up almost 90%. sporting goods, hobbies, books, musical instruments, that category rose 88%. so we are seeing people go out and about, pent-up demand meets value. there are a lot of discounts, and this is excellent news. i spoke with century 21 yesterday or the mall that's -- that it's in. and they're likely bringing in more staff today because traffic was so robust throughout the

day. one more pick for you, tangor outlets, they said sunday traffic was about 90% of 2019 levels. people are out and about and looking for value. stuart: that is a very, very important indicator. we're out and about, we're shopping again, and we're buying again. very important stuff. lauren, thank you. and now we have ashley webster who wants to make a point. [laughter] i hope it's not a negative point about the u.s. dollar. what have you got? ashley: well, it's a a little bit of caution. we have a number of people out there, analysts, former, you know, executives saying they're worried about the dollar and the weakness that's going to come. one predicting it's going to fall 35% against other currencies because of all the money printing, the massive amount of pending this country is doing, the deficit is widening and dwindling savings. not only that, it's tough on the big corporations whose assets and department are denominated in or dollars.

good for u.s. exporters because it's cheaper for others to buy their goods, but watch for the dollar that's been weakening over the last several weeks. it could be an issue down the road. don't want to be too negative but something to keep an eye on. stuart: okay. you got your 30 seconds worth in there, ash. [laughter] thank you very much. ashley: you're welcome. stuart: i do want everybody to check, this is nikola, the electric truck people. now, since they went public less than two weeks ago, nikola is up 10 is 7%. it's doubled in less than two weeks. we'll have more on that later this week, a actually. a look at tesla, the model s now has a range of 400 miles on one charge, and tesla -- sorry, susan, almost call you tesla there, susan, tesla's going to build a plant in texas, is it? >> reporter: those are the reports, i should point out, and

austin offers some pretty important incentives enticing, indeed. 50% of property tax reimbursements if you build a plant there, wage reimbursements per job, by the way, so that's pretty attractive. we know in nevada the gig factory that tesla built, they got an incentive of $1.5 billion, so that's the realm of territory that would entice elon musk, but austin, texas, has the inside track reported on monday. tesla is in talks right now with travis county to maybe look at a potential assembly plant there. we know fremont, which is their only production factory in the u.s., comes with 10,000 jobs, and elon musk says he contributes around $5 billion to the california economy. if they have another assembly plant in texas, you can imagine the boost it would give to the texas economy. stuart: especially if they shut the one down in california. >> reporter: i don't think they're going to do that. i think they need more than one.

more lines, more semi trucks and more cyber trucks in the future, right? stuart: i imagine so. i don't think elon musk is is real happy with california, and that's a fact. he's said it publicly. all right. check that big board. i was wrong, we did not hit a 1,000-point gain right after the opening bell, but we've got a pretty good rally going on. 678 points higher, 26,400. the 10-year treasury yield, where is that this morning? .76%. it's up, that tends to be good news for stocks. the price of gold this morning, a couple of international incidents not raising the price that much. shooting and deaths on the china/end ya border -- india border, and north korea blows up a liaison building just next to dmv. the price of oil, $38 a barrel, that's a 3.6% gain, $38.46 per barrel. oh, do i have a lockdown winner for you.

weight watchers, ashley, this is your story. people are signing up to lose the lockdown weight? [laughter] ashley: yeah, what do you mean by this is your story? okay. stop laughing. 4.9 million subscribers reported by weight watchers on june 6th. that is up 73%. look at that -- 7%. look at that number. that breaks down to 3.8 million digital subscribers. they did that online from home, 1.1 million subscribe to the studio where you actually go into the studio for in-person counseling although that hasn't happened, although weight watchers says it does plan to reopen some 400 locations for those particular subscribers by the end of the month. but, yes, you could call weight watchers one of the winners in the lockdown as people consider their weight and decide to get some help. stuart: you should, because i might actually consider going to a gym. how about that? i might actually -- ashley: what? stuart: yes --

[laughter] i'm just considering it. ashley: okay. [laughter] stuart: i want to say thank you, everybody, we're going to move on. check that big board, up 760 points, the best part of 3% as we speak. now this. he's been off the field since 2017, but colin kaepernick is scoring the endorsement of a lifetime. nfl commissioner goodell thinks someone should resign him. we're on the story. for weeks the media has support nationwide protests, but watch them hysterically bash the president's first rally since the pandemic. roll tape. >> sound like a worst case she their do -- scenario e? >> my question is you're not letting people have concerts, why let the president do it? >> why would trump allow civilians, his supporters even, to put themselves at such risk? stuart: not a word, of course, about the protests, but it's another example of media bias.

i think it is. we'll have more on it in the 11:00 hour. time to take a look at this, couple writes a negative review in ebay, and a bloody pig mask shows up on their doorstep. do we have your attention? yes, we do. you'll have the story next. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now, you're binge learning. for a limited time, get up to $800 when you open and fund an account. call 866-300-9417

or visit tdameritrade.com/learn. ♪

stuart: the rally holds, we were up over 800 at the start of trading, now we're up 700. we'll take it. that's 2.5%, 2.75% for the dow industrials. now, take a look at ebay. a group of former ebay staffers are accused of cyberstalking and harassing a couple who published an e-commerce newsletter. lauren, do i take it that this couple were critical of ebay and some staffers went after them because of that? is that the story? lauren: it is exactly that. and it doesn't -- it wasn't just any ebay staffer, it was six

of them, and they were high level including the senior director of safety and security. they conspired to send this critical couple halloween masks, a bloody pig, a box of cockroaches and a funeral wreath all to their home. they were arrested, they could face up to five years in prison charged with cyberstalking and harassment of the couple for publishing a newsletter that had been critical of ebay. of course, ebay has fired them, but now they face these charges. stuart: and ebay -- lauren: isn't that crazy? stuart: it is. that's a remarkable story. you don't expect that to happen to you, but there you go. the stock is unmoved, absolutely unchanged. i think it's time we check with retailers because we had that number this morning, retail sales in the month of may up 17%. that is a whopping, great big increase, and who better to treat it and deal with it than gerald storch, the retail guy

extraordinaire. 17% up in may. your reaction to that. >> it's a phenomenal number. it had to be up. we we knew may had to be better than april when everything was closed, but this is probably twice as good as people expected. beyond that, think about this a little bit. if you look overall, retail sales once you take out cars and gasoline were only down 1% versus last year, and many of the stores were still closed in may. i'm here in new jersey right now, they just opened a lot of retail yesterday. so that means most of the stores that are open or many of them were actually comping positive versus the same day in the prior year. so people are fed up being locked down, that for sure, and they're out there shopping. stuart: you said there's a shift in consumer spending from what you want to what you need. explain that. >> well, you see that very strongly in the numbers. so even some of the categories that were up in the height of the pandemic in april, things like food or the general merchandise retailers or

building supplies, they're up again this month and have huge gapes year-over-year. -- gains. building materials up 16% year e over year, food up 14% year-over-year, and you see walmart, target and costco up on top of home depoe e and lowe's which are the building material numbers. even though categories like apparel and department stores are certainly up in may versus april, they're still down very sharply versus the prior year. and is so we're buying more clothes than we were when all the store were closed, but it's just not up on the list anymore when you have a mindset change like what you're seeing. stuart: it sounds like a consumer spending boom. my question -- that's your phone. [laughter] that's one of your retail clients there, gerald. i can tell. [laughter] >> monterey, california. yeah -- [laughter] stuart: it's a boom, by the

looks of it, but does it hold all the way through to the end of the year and the holiday season? >> that's a great question. i sure think the internet spending boom holds, up 30% year-over-year during this month, so people are buying a lot over the internet. it's a little easier to have strong year-over-year numbers in may than it is during the holiday season when the stores are crowded. remember, you're elbow the elbow shopping in december, but i have a feeling by the time we get there, unless there's some giant flare-up in the virus, i have a feeling that people are going to learn how to live with this, how to social distance properly, wear a mask in a situation like that crowded department store. i have a feeling people aren't going to let it get them down. the country is clearly changing from hiding from this to living with it. stuart: i used the expression consumer spending boom. am i going ?oofer because that's what it seems like to me at least. >> well, there's a lot of stimulus in the economy, a lot of pent-up demand.

i certainly think it's a boom for this month, and i bet june is going to be darn good. i had the opportunity to drive i-95 from florida to new jersey because i was relocating just this weekend, and i have to tell you i was pleasantly surprised how crowded the parking lots were, the hotels, i don't think there's a place to stay. everything was booked, you know, really crowded. so people are out and about. it's certainly a boom right now. when we get to the holidays the questions are going to be one, two and three, is the virus something we can handle, that we can live with. there's bound to be some kind of increase because people are out and about, but will it be enough we can live with it? if we can live with it, i think the consumer is back with all the stimulus, i think we're going to do great. stuart: all right, gerald storch, good stuff. i envy you your trip. see you again real soon, thank you, sir. now this one, new jersey opening up outdoor dining. we have a café owner on the show

coming up. can he survive the summer with just outdoor seating? i will certainly ask him. we're also talking to someone who's helping police officers relocate from anti-police cities to areas where they will be welcomed and respected. he just started his business, and he says it is booming. that's coming up in our 10:00 hour. a lot more "varney" after this. ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey ♪ yeah unlike ordinary wmemory supplementsr? neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. memory, focus, accuracy, learning, and concentration. try neuriva for 30 days and see the difference. because when you want to create

an entirely new feeling, the difference between excellence and mastery is all the difference in the world. the lexus es. a product of mastery. experience amazing at your lexus dealer.

♪ stuart: the rally holds. we're up 2.5% on the dow, 660 points right there. look at the fast food stocks for a moment. our next guest's company, it's called zen put, it's a platform that allows fast food and convenience stores to hop to monitor their probabilities right from their -- products right from their phones. vlad richter is the ceo, and he joins us now. i'm trying to get to glibs with this, vlad, to understand it. you've got a platform, fast food operators chime into the platform, and from your phone these operators can tell the temperature of the refrigerator or the resanitizing schedule. have i got that right?

>> you got that right, neil. so to give you a little bit more background, we are a tech platform that works with restaurant chains, convenience store chains and grocery chains x our customers like the domino's and chipotle use our product to make sure that food is being handled and prepped safely, to make sure that the dining experience is great across all locations, and most importantly during covid, to make sure that the sanitation procedures are being followed across all the restaurants. stuart: it sounds to me like you are a liability operator. i mean, if a fast food operation uses your platte form, you can turn around and say, hey, we're taking care of liability here. is that true? >> yeah, i would say that's definitely true. i mean, in a lot of our cases our customers, when they're managing, you know, 50 locations, 500, 5,000 locations across the globe, they want to make sure that things that could

potentially be problems, that they're eradicated before they become that. they're using the product three, four, five, six times a day to make sure these things are being monitored and tracked and measured across the board. it's been phenomenal results over the few years we've been in business. stuart: can you give me a rough idea of what you would charge a convenience store, for example, just one unit, one convenience store. what do you charm them? >> absolutely. -- charge them. our list pricing's at $49 per location, per month and, naturally, that'll come down and work with scale if you've got 100 locations or 500 locations. it's the product that you're buying from us. stuart: okay. vlad richter, you're in the right place at the right time, from the sound of it. zen put, the ceo thereof. thanks, lad, appreciate it. >> thank you. stuart: the nypd disbanding its anti-crime unit, and that means shifting 600 trained police officers to other jobs. sounds to me like a step towards

defunding the cops in new york city. can you believe that? and then, do you remember this? i'm sure you remember this, it's an iconic scene. the golden escalator. mr. trump in trump tower. it was exactly five years ago when then-businessman donald j. trump announced his campaign for the presidency. it's been a real whirlwind ever since. i'm going to go right at that in my take which is next. . . . . . at mercedes-benz, nothing less than world-class service will do. that's why we're expanding your range of choices. many dealers now offer optional pick-up & delivery and at-home maintenance, as well as online shopping with home delivery and special finance arrangements. so, whether you visit your local dealer

or prefer the comfort of home you can count on the very highest level of service. get 0% apr financing up to 36 months on most models, and 90-day first-payment deferral on any model.

stuart: well look at this, we're 30 minutes into the trading session on tuesday morning and the rally is holding. it's strong. dow is up 700. the s&p is up 70, nasdaq, that is catching up, up 221 points. that's a rally. look at retailers, they're surging after a report of a 17.7% gain in retail sales in the an month of may. that is extraordinary. that number up 17%. that is helping the overall rally on the market. the drugmakers, we'll show you the stocks, this is no connection to the researchers in england who say a stay road improved the chances of survival from covid-19 up to 1/3. that is very positive news on treating the virus. that too adds to the rally. i'm going to show you from capitol hill, federal reserve chairman jerome powell, he is about to testify on the hill.

edward lawrence knows what he is going to say. edward, break it down and give me the bullet point headlines, please. reporter: stu, federal reserve chairman jerome powell will be a little more cautious in his comments. he will say there is significant uncertainty around timing and strength of a recovery. he will say some economic data is showing stabilization while some areas showing a rebound but he is going to say that until the public is confident that the virus is contained there will not be a full recovery. he will say that the federal reserve will keep rates near zero until they believe that the economy has weathered this economic storm here. he points to the cares act as making critical difference in limiting the long-term damage to the economy by supporting families as well as supportings businesses. he sees inflation falling. powell says he thinks with the rebound it will stablize but remain well below their objective for some time. he also says that the federal reserve will continue to buy

treasurys and mortgage-backed securities as well as roll out their facility programs to help support the economy. stu? stuart: thank you very much, edward. i regard that as a rather cautious outlook from a very powerful guy, fed chair jay powell. nonetheless we do not have a significant move to the dow in the downside despite that caution. we're holding a rally, edward, with a gauge of over 720 points. so the fed chairman's testimony looks like it will not have that much, certainly not an immediate impact on market. we're up 700. reporter: stuart, one thing the senators will ask number of questions specifically about buying corporate bonds. you talked about that in the program. that big program, how many bonds what range it covers. we have the market up 700 points. edward, thank you very much indeed. we have indicator of homebuilder

sentiment. this looks to the real estate business. ashley, numbers, please. ashley: much better than expected. anything below 50 is negative out look, anything above 50 is positive. came 50.8 in june. the estimate was 45, below that 50 line. a nice positive up swing of the housing market. homebuilder sentiment how they see the market. april by the way we saw it hit a eight-year low. we are on a trend upwards. perhaps sign housing is set to recover as we come on to the other side of the pandemic. a reading of 58, much more positive than expected. stuart: pretty strong, total rebound actually. thank you, ashley. i want to bring in market watcher scott shellady. scott, i will list all these positives. you have got a treatment for the virus that looks positive. maybe a trillion dollar infrastructure plan. the fed chairman a little cautious, but nonetheless

they're buying bonds. there is the los of positives here. what is the biggest positive you see today. >> fed backstop there is probably the biggest. the second one i think also would be the fact that we need to find some sort of antidote to the virus. we can't, you can't solve a virus with money. that's the thing. i'm really excited great to be on when we have markets. a lot of times you have me on i'm trying to explain away a big loss. we have a ready and willing workforce. look how low energy prices are. look how low interest rates are. we have a fed that will backstop everything. that is fantastic. we talk about american exceptionalism a lot you know what we always miss talking about? american optimism. brighter days ahead. that is largely another thing we've seen here. let's keep our feet on the ground. we lost 25% of our restaurants, 33% of our small businesses.

33% of americans are too afraid to go outside even if they get all clear if there is no virus. biggest hindrance, if the fed wants v-shaped recovery we are all talking about, stop the nonsense of 25, to 50% capacity, versus paying 100% of revenues and restaurants in retail that would solve a lot of problems. i want to give the choice back to the american consumer. let testimony decide if it is safe or not safe enough. ohio state football team signed a waiver. they all signed a coronavirus waiver. the entire team. we'll start to see more of that. that i think ultimately will lift this market. give the people back the choice whether they think it us safe to go to the restaurant or not. stop the governors telling you can only have 25, 50% of revenues and pay 100% of over heads. that is the issue. stuart: i'm with you. scott, i think you're in arizona. you've been there for some time. arizona has opened up.

tell me what the state of play? is it almost back to normal? are people out and about in real numbers? >> you know what, stuart? we had a rise in cases here because we've had a much higher increase of testing but regardless of that i was out in downtown scottsdale this weekend you would not notice it. it was jam-packed. i didn't see a mask except for on the waitress and waiters and waitresses. i would say right now from my point of view, it is 100% normal. i'm going back to chicago soon. i'm hearing 100% different story. here we're back to normal. doug ducey said something very, very key here. look, the virus will be with us. we have to learn to live with it. we're not going to shut down again. stuart: scott shellady, we'll see you real soon. that is a promise. check the market, we've gone up a little bit despite cautious statements from fed chair powell. now we're up, the best part of 780 points.

that is better than a 3% gain. green across the board this tuesday morning. now this. i'm sure you remember this, june 16th, 2015. businessman donald j. trump rides the golden escalator to announce his run for the presidency. five years ago today, that's where it all started. talk about arresting the attention of the nation. in his announcement speech he said the country was in serious trouble. that was dramatic stuff. china trade, the border with mexico, isis, iran, unemployment, obama care. he said we've got it all wrong. at first the heavily biased media laughed at him. how could he possibly win? but then he beat hillary and the tears that we did see on election night gave way to undisguised hatred. russia, russia, russia. collusion, obstruction much justice, impeachment, the virus,

urban unrest, one thing after another. he has been the target of media contempt for five years. now look at what president trump has actual done, given the intense opposition, it is a long list of solid achievements. isis is beaten. iran is ruined. china has agreed to a trade deal and will be held accountable for its role in the virus. we are out of the surrender to china, known as paris climate accord. record low unemployment including for african-americans and hispanics. a booming economy. supreme court justices who follow the constitution closely. and a stock market that has enriched the pension funds of 100 million americans. oh, and the flow of illegals has been severely restricted. he is still upset as lot of people with his rough-and-tumble, off-the-cuff statements just like he dud five years ago. but now he is running for a second term on his achievements. he is going to run against

joe biden who is married to the past. you know, identity politics, tax the rich, tax business, "green new deal," and so on down the left-wing line. the polls right now are against the president, just like they were five years ago. who was it who said, it is like deja vu all over again. yes, it was, yogi berra? did he say that? i think that's right. bill mcgurn knew the answer to that question. he is a "wall street journal" kind of guy. bill, you were a speechwriter. president trump doesn't have a speechwriter, i don't think he does. does he knee one, do you think. >> he has a very good team. one of the overlooked pluses of the trump administration when the gives a set speech like he did recently for the space launch some of them are very, very good. i think he does have a team. i think actually he could use a

little more of that. for example, you know, in this unrest to talk to the people from the oval office and talk directly and i think he has the talent there to do it. he has done a good job on some of those before. stuart: we'll never see another president like this, will we? >> probably not. i think, get to your point, i agree with your point, summary of things. i understand, i can understand people who find it, just can't take all the tweets and everything but i think that, one ever the problems people don't look past the noise. president trump is like a circus master. coming to town, have all the shows behind him, playing him up. if you don't get distracted by that, look at things he done, you had a list yourself. it is quite impressive. count the deregulation. if you asked me i wouldn't have thought anyone could do that, even ronald reagan. it has been enormous benefit to the economy. i think part of it is, because he is was outside politics, he

doesn't except typical constrains that, politicians, we can't do that i think he goes ahead. i would count, it is not just the supreme court. he has put so many judges on the bench with the help of mitch mcconnell. you know, for democrats the judiciary is their preferred legislature, right? rather than doing the work of getting something passed through congress or the state representatives, how much easier to get five votes on the supreme court? you take that away from the progressives you don't have a lot because they don't like to work through democracy. stuart: well-said. i forgot about the deregulation. that is extremely important. i should have mentioned that. i want to talk about vandalism at st. patrick's cathedral here in new york city. you can see it there on the screen, left-hand side. the suspects were let off. you have written about this, what do you make of the letting suspects off about the vandalism at st. pat's? >> actually one suspect. he looks like he was the getaway

driver. two women were caught on film writing expletives and slogans on the wall. it seems to be part of the district attorney's new policy. said he will look at protest- related crime, judge whether charging someone advances racial justice or not. it's a terrible thing. it, end to broken windows. broken windows sweat the small things, graffiti, turnstile jumping panhandling, so you don't have bigger things. >> what a mistake in my personal opinion. i think you agree with that bill mcgurn, thanks for joining us. >> thanks, stuart. stuart: sure thing. new york's governor, new york state governor andrew cuomo is doubling down on warning for restaurant crowds. he says he will shut down parts of the city if people don't comply with social distancing rules but what about the massive protests in brooklyn this past weekend? what did he have to say about that? here's some more what might

be called hypocrisy. for weeks the media has been supporting nationwide protests but when the president schedules a rally they have this to say, roll it. >> does sound like a worst-case scenario for super spreading event? >> my question, you're not letting people have concerts, go and have big gatherings, why let the president do it? >> why would trump allow civilians, his supporters even, to put themselves at such risk? stuart: we'll have more on the double standard from the media in our next hour. but first, i'm going to talk to a guy who is helping police officers relocate from anti-police cities to areas to areas where they will be welcomed and respected. he is getting a lot of interest. he will join us shortly. look, this isn't my first rodeo...

and let me tell you something, i wouldn't be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. it's just a loan designed for older homeowners, and, it's helped over a million americans. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan, like any other. big difference is how you pay it back. find out how reverse mortgages really work with aag's free, no-obligation reverse mortgage guide. eliminate monthly mortgage payments, pay bills, medical costs, and more.

call now and get your free info kit. other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. discover the option that's best for you. call today and find out more in aag's free, no-obligation reverse mortgage loan guide. access tax-free cash and stay in the home you love. you've probably been investing in your home for years... making monthly mortgage payments... doing the right thing... and it's become your family's heart and soul... well, that investment can give you tax-free cash just when you need it. learn how homeowners are strategically using a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be a part of aag, i trust 'em,

i think you can too. trust aag for the best reverse mortgage solutions. so you can... retire better.

>> you are looking at fed chair jamal. he is now testifying on capitol hill -- jay powell. we are going to have, let's see, what exactly did he say. he is cautious about the strength and the timing of the economy's comeback. that is a rather cautious statement from the fed chair. nonetheless, it has not affected the market. the market moved higher since we found out exactly what he is going to say. susan li has been saying, look, maybe it is because if we got a faulty or slow recovery, that means we need more stimulus and the market likes more stimulus. good point, susan. we'll get back to that shortly. i think you're right, young lady, i think you're right. next case, america's police are under attack. los angeles mayor he called the cops killers, that is his word, l.a. mayor garcia, he says cops are killers. in new york the city council is

backing a proposal to cut a billion dollars from the nypd, and, they're plain clothes anti-crime unit has been eliminated. in seattle the city directed police to stop using tear gas and abandon that precinct. they said that. in minneapolis-st. paul police were ordered to stand down during the riots. paul chabot is with us. he started a new company called, law enforcement move. that helps cops relocate from, relocate from anti-police cities to pro-police communities. all right, paul, welcome back to the program. how is business? >> stuart, thanks for having me. business is booming and i will say it is unfortunate in a sense because our 800,000 men and women in law enforcement across this country really do feel like they are under attack and not supported, largely in these big, liberal cities. most of which you mentioned.

and so they're looking to say where can i survive with my family, where can i retire for a good life? quite honestly the exodus is already happening. i think it will continue dramatically as we see the anti-police movement moving in this country. stuart: have you got any numbers on that? are people, can you tell me how many police officers have come to you from whichever city and said i want out? >> yeah, so great question. remember we started another country called conservative move about three years ago, helping ordinary average civilians move out of more liberal cities to conservative ones and we help ad lot of police through those years. we launched law enforcement move yesterday. the outreach and response from social media has been tremendous. i have no actual numbers to give you of folks that have come to us sign up to up to move. the process can take 30, 60, 90 days. we're helping them move homes,

that work, wind up with law enforcement recruiters. one thing i will mention i think we have another crisis on our hands. with law enforcement leaving, it will be harder for departments to recruit candidates. i'm in the military. i'm also retired law enforcement. i think for the first time we may cities having to give retention bonuses like in the military just to keep police officers on the force. as you know, from a financial standpoint, most of these local governments, state governments are running deficits. they can barely afford services they have now. creating a dramatic negative impact for public safety. stuart: paul chabot, law enforcement move, thanks for joining us, paul. i this your time something very interesting. we'll see you again soon. >> have a great day. god bless. stuart: god bless to you. check the markets. we're rallying up 700 points for the dow. helping rally, strong retail sales. really strong, actually. more money printing coming from

the federal reserve. the breakthrough in the treatment of the virus using steroids. we also have the possible improvement in relations between the u.s. and china. mike pompeo meets china officials in hawaii tomorrow. there is this report of a possible trillion dollar infrastructure plan. ashley, have we any idea what's in the trillion dollar infrastructure thing? ashley: well, this is a report from bloomberg that says the majority of that money would go to work on roads and bridges and anything left over would go to improving the 5g network and rural broadband. you know, let's not forget, the president is, has been pushing a two trillion dollar infrastructure bill. thought he had some bipartisan support. the big stumbling block how to pay for it. the president favors bringing in private sector, not relying on government. meanwhile the democrats are more in favor of more government spending. maybe a trillion dollar stimulus plan for the infrastructure in

this country which sorely needs it may be to get over the line at this time. stuart: we sal -- only time will tell as we see. only time will tell. you have to have a deep voice for that. the national average for a gallon ever gas is now $2.10. it has been rising steadily. i think the low was about a buck 75. now it's 2.10. obviously more people are driving. lauren, come into this because clearly more people are driving. are they abandoning public transportation? lauren: looks like it. if you look at new york city subway ridership it is down ain'tty% year-over-year. 80% year over year. airport traffic is rising. more than half a million folks going through tsa checkpoints every day, but however it is down substantially year-over-year. as we shun other forms of public transportation for our health and we start to drive again what

happens? fuel prices go up and traffic. one expert say commute times could triple. you might be sitting in traffic a lot longer t would be up to companies, again, stuart, to say, maybe we alter, shift some hours we're requiring people to be in the office to get to that point. you can't have your commute be double or triple what it was. stuart: what you're saying we have to get away from the traditional concept of rush hour. you may need staggered office times so everybody is not rushing in at one hour period and rushing home at the end of the day. i think that's coming, lauren. lauren: i know it is i know it is a factor you, me too, stuart, we tend to work earlier hours because i can't stand rush hour. when you work in the middle. night, for instance, you don't have that. more people in the new normal might be doing what i love. stuart: i drive in here at 3:45 in the morning and roads are

utterly empty. a lot of people who are jealous of that, they don't want necessarily to get up at 2:30 like i do but nonetheless they're jealous. maybe we fix that too. lauren, thank you very much indeed. next case. the virus has shut down all the gyms. this operation, 24 hour fitness that is a gym company, they filed for bankruptcy. grady trimble following it. what have you got on this, please? reporter: they're closing more than 100 locations across the country. this one is one of them. it actually had its grand opening here days before the coronavirus shutdowns. barely got anytime to open. now it is shutting down for good. the company says as part of the bankruptcy filing it is eliminating debt and closing clubs. it will also secure 250 million-dollar in funding that will allow it to open 300 of its locations across the country. this is the second gym to file for bankruptcy. gold's gym filing for bankruptcy last month. both blaming in part at least on

the pandemic. the way we work out seems to be changing. recent survey are more trying at-homework outs for the first time. that is to the benefit of companies like pell ton. stu? stuart: thank you very much, grady. next hour i speaking with someone on that very subject, the ceo of gold's gym by the way. i will take you to new jersey, where restaurants have been given green light to open for outdoor dining. how will that work? will it be enough to keep businesses afloat through the summer? we have that owner of that restaurant on the show momentarily. ♪

♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey stuart: wow, look at the market go. this is the high of the day. now you're up over 800 points. there are some real standouts here. apple is up what, eight bucks. amazon up six. facebook up five. all the stocks which a lot of people own are way straight up today. sea of green all over the place. now as casinos reopen some of them are pushing cashless payments. susan, what's that all about? susan: last places i have seen actual physical cash being handled are at casinos in

las vegas and even in atlantic city and also in post offices. so basically we have obviously this coronavirus epidemic we're going through. they want to cut down the amount of actual cash being handled from person-to-person. in the future u.s. casinos are pushing for cashless gambling, payments. they're citing viperouses. national gaming association will be calling on regulators in the specific gaming states, hey, let's go cashless in the future which already americas sense that. is the trend we're at anyway in this country. stuart: i guess so but you know with the market up 800 points i'm included to look at that. wynn's buffet is reopening. enough of that. susan: you don't want to talk about the wynn buffet? i actually looked. >> it. stuart: i want to know, look, the dow is uphundred points. apple up $8. microsoft up six. susan: casino stocks. if you want to look at battered stocks have a lot more upside

may have not all the value priced, you look at casino stocks. las vegas only recently reopened. it is kicking back up. more people are back on the streets, back in the casinos. this is a sector to review. yes i think there is market implication talking about wynn or buffets restarting. stuart: i will repeat. apple, i've lost it. it is on the little phone. apple is up eight bucks. nine dollars. apple it is up nine. microsoft up six. amazon up 40 bucks. facebook up five bucks. tesla up too. et cetera, et cetera. big moves here. burger king, here we go, teaming up with impossible foods for breakfast. tell me, lauren. lauren: because we're working from home and we're not going to get brake breakfast on the way to work. breakfast sales are down. they are trying to juice it up. people like fake meat, meatless

meat. they will add impossible sausage to the menu nationwide for a limited time. stuart: thanks for keeping that brief, thank you very much indeed, lauren. lauren: we're welcome. stuart: and now we're going to hoboken, new jersey where outdoor dining is knew permitted. restaurants are getting creative using every inch of the sidewalk. is that right, kristina partsinevelos who is there? reporter: exactly right. they were green lit for phase two here in hoboken new jersey. what you see is a parklet. these are wooden planks. build it in a day. patio straight on the street. i spoke to the owner, he said he had no problem getting permits. another major thing, a change for lot of restaurants are no more men use. you need to be prepared with a phone. that is a qr code. it pops up on the phone, brings you to their website. this is just an example how they have to be very contingent on

the weather though. if it is cold or raining, that means they cannot come outside. what we do know, they're trying to make up for the loss in revenue. according to the national restaurant association, the restaurant industry lost $120 billion in just three months, march to may. that means roughly so far 3% have lost or closed their doors permanently. that number is expected to increase once we get government statistics. we're walking here in hoboken. stu, i wanted to show you, you're seeing outdoor patios across the way on sidewalks. because cities are joining forces. governments here to help a lot of these restaurants rebuild. this could potentially be a pilot, fingers crossed for new york city. opening could be beginning of july but we'll wait and see. i will throw it back to you. let's hope for healthy customers to return for a lot of these small businesses here. stuart: i just love to see business going at it and getting

customers in the door, not not door but the outside area. speaking of which, i want to bring in travis young, that is the owner, that is mr. travis to his friends. he run as cafe in hoboken and you have an outdoor dining area but here is the question, travis. can you survive the summer, can you make a profit, can you cover your costs if you're only allowed to open outdoors? >> we're not quite sure yet to be honest with you. yesterday was a great day t was a godsend really. we just don't know yet. it is hard to say. if it rains for four days it becomes unsustainable. but if it is 80 degrees or 75 degrees, sunny for 10, 12 days straight, we'll be doing well. the landscape is uncertain right now. stuart: i don't want to get you any trouble with the authorities. you can answer the phone if you like. i don't want to get into trouble with the governor, but, do you want to use the show to push for a full reopening for inside

dining? >> obviously, we do want to open. that is what we love to do, we love having customers in our restaurant, sitting at our bar, sitting at our tables inside but we want to do it in a safe way. we care about the community. we want to make sure everybody is safe, we want to do it the right way. so we're following the leadership of the governor and the federal government and we hope we can do it soon in a safe way. stuart: social distancing is your big problem, isn't it? >> yes, it is. yes it is. stuart: how do you really feel about that? i mean i know you want to keep your customers safe but really want to make some money, you want your operation to succeed, you really have to push, get rid of social distancing, don't you? >> well, i what i'm going to say is, that the powers that be say that that is what is going to stop the spread of the virus. obviously we want to have a full restaurant. at that is what is going to help us survive from a business standpoint but if the guidance

is, that six feet is what is going to stop the spread so we can reopen fully and stay that way, i think that is the key, that you reopen and it stays that way. not that you reopen and then you then have to shut down. so if reopening and staying open means that we give people the distance that they need and that is what is going to stop it, then that is what we'll do. stuart: travis, thanks very much for being on the show. travis young, the elysian cafe in hoboken. grad to see you're making progress. thank you very much. listen to this, nfl commissioner goodell now says someone should sign colin kaepernick. kilmeade coming up on that. next, facebook, censoring ads for a new book about liberal bias in the media. we'll hear from one of the authors as the market continues to rally. ♪.

looks like they picked the wrong getaway driver. they're going to be paying for this for a long time. they will, but with accident forgiveness allstate won't raise your rates just because of an accident, even if it's your fault. cut! sonny. was that good? line! the desert never lies. isn't that what i said? no you were talking about allstate and insurance. i just... when i... let's try again. everybody back to one. accident forgiveness from allstate. click or call for a quote today. there are people who say things aren't made here anymore. those people should make a trip to michigan. or kentucky.

or illinois. where you'll find our workers and dealers and engineers and technicians. building for america. we're proud to employ more hourly workers than any other automaker in this country. because we build for this country.

stuart: you know just moments ago we were talking to a cafe owner about social distancing being a real problem. well the fed chair has just said parts of the economy struggle to come back because people can only get together in small groups in social distancing. he just outlined the problem and the market has come down a bit. we were up 800 points. the fed chair said that and now we're up only 550. that is quite a drop. let me show you some other stocks that are really moving. first of all microsoft, that is about, what, $195 a share as we speak i believe? yes it is at 194.48 apparently. so that is close to a new high. i'm not sure exactly if it's a new high or not but it is way up there. facebook, same story, way up this morning.

facebook is, have we got it? up 350. 23on facebook. let me round this out with apple, making a very significant gain. it is now up $7.50, 2.2% on a company that size, $350 a share on apple. this is quite a rally and it's still going on. let me move to politics because president trump in almost all the polls is trailing joe biden. harlan hill is with us. he is a member of the donald j. trump for president advisory board. all right, harlan, a lot of people on the show says only poll that counts on november the 3rd. they dismiss this. don't do that please, tell me why is it that the president trails joe biden at this point? >> well, let me just tell you, first of all i like the fact that we're seeing polls that show us trailing, even though i don't think they're correct. i will tell you why. we should run like we're the underdog throughout the duration of this campaign but just like

in 2016 i believe these polls are inaccurate. i don't think it is deliberate, but in most cases i think it is the case. i will give you an example, four years ago in june of 2016 average of all state polls showed hillary clinton was going to win with 331 electoral votes. in reality she only got 227. when you look what is happening with biden right now, average of all the state polls says he should get 319 electoral votes. obviously a lot can happen between now and election, first of all, when you look at a poll like the cnn poll, they massively underrepresent republicans, surveying all voters, not likely voters. so in that poll they should have surveyed 33% republican but only captured 25% republican. that's a problem. i think that contributes to the fact that these polls do not accurately represent the american people. stuart: you're right. reminds me of five years ago but you have a new book out. it is about the liberal media and in it you say, look, there are 92% of the media are

democrats. only 7% are republicans and yet, your book, they're not listening, that is the title of it, you were censored by facebook. what is going on here? >> yeah. look, we were trying to run some ads to promote the book and i think because they're were key words in the copy of the ad, we were rejected without explanation. so we're trying to sort through that but i think it further undermine this is fundamental disconnect between the big social networks, big media organizations and half the country. stuart: okay. good luck with the book. i'm sorry we, what else do you want to say? go. >> i just want to say the media is obsessed with democratic representation. there are count lowe's stories and tweets from mia elites very institutions don't reflect our country. look at social media networks, look at big newsrooms around the country, they're overwhelmingly made up of democrats. only 7% in a recent study that i read are republicans. that is a travesty.

most of them live in the acela corridor between new york and d.c. they don't even know a trump voter. why it is so hard for us to get a voice. stuart: don't be such a stranger to the show, harlan hill. >> i love you. see you soon. stuart: back to that market. now we're up only 480 points on the dow industrials. the fed chair is talking about the struggle to come back, for the economy to come back, part of the problem is social distancing. okay, we'll have more on that at top of the hour. also ahead, is baseball going to shoot itself in the foot? listen to this. >> lastly the percent of a chance we're playing major league baseball this year -- >> 100%. i know owners are 100% committed to getting baseball back on the field. unfortunately i can't tell you that i'm 100% certain that's going to happen. stuart: that is the commissioner saying they may not play this year. that is a disaster. kilmeade, comments on that

coming up. there seems to be a massive disconnect between... ...what's going on in corporate america and what investors are believing is going on in corporate america. the message to you: don't trade because you think you're gonna to get rich quick. because you... makes it beautiful. state of the art technology makes it brilliant. the lexus nx experience the crossover in its most visionary form. experience amazing at your lexus dealer.

stuart: two warnings from jay powell. the first one said if state and local governments are in financial trouble it will weigh on the economy. they're in financial trouble so i guess that is weighing on the

economy. he also said social distancing is going to slow down the rate of economic recovery. right on both counts. when he said those things, the dow dropped below, for a gain of less than 500 points. it is only come back a little as of right now. now it is time to join brian kilmeade, host of the brian kilmeade radio show. he joins us right now. you're talking to me, brian. here you go, lad. it is your last chance. >> yeah. stuart: let me roll a piece a little sound bite from my editorial on baseball that i run last week and see if you agree with it. roll tape, please. it could have been so good. baseball could have made july the 4th its opening day ah, but no. unless there is a last minute deal, that and that is unlikely they will not play ball until late july or august. i think that is a chronic mistake. yeah, i will repeat that, a chronic mistake, brian. there is a distinct possibility now that the commissioner says we may not have a game this

year. >> the owners don't love it without fans. they are going to lose money. the deal was, players will come in with prorated salaries especially for the higher end. they were not going to get close to what they were maxed out at. lower end players would do better. i don't get into the whole cba talk. i don't think sport fans care about prorated and this and that. they want to see baseball. this could be made for television events but made for television events don't cause profits for owners, they cost costs. they wanted less games, players wanted more games, more salary. the commissioner came out we'll may not have baseball. this will be worse than the 1994 season canceled. yankee, mets fans get into it, cardinal fans, cubs i should say, a lot of people will say forget this game. they lost the younger

generation. this could be a death knell. stuart: i absolutely agree with you. it is shooting yourself in the foot, a major league sport shooting itself in the sport for no good reason here, no good reason. there might be another game for two years total. i know what i think. i know what you think. let's move on. nfl commissioner goodell is pushing teams to sign colin kaepernick after years of not playing. seems like change of heart. why? >> because of black lives matter is now the most popular organization in the country and that is why he was taking a knee. although kaepernick stumbled in, pun intended into this whole protest. he couldn't even say what was wrong in the country. then he ended up saying on law enforcement. he wore socks with pigs on him. he wore a che guevara t-shirt, upset miami, who has negative things to say about fidel castro's coconspirator. when you have kaepernick,

coaches saying we should have signed him. the commissioner saving we should have signed him. i'm not sure he wants to play. 2scouts said there, he had 28 scouts, he doesn't like this. he went to high school field. nobody showed up. the problem with kaepernick. doesn't want to be a back up. three years, i don't know what is left. no one will make him a starter now. what will he do as jameis winston or teddy bridgewater. i don't see it. stuart: the league may well be worried about collusion. it is quite possible that kaepernick could launch a lawsuit, say heying you guys colluded to keep me out. that is wrong. it is illegal. i want money. they have got to be worried about that? >> he sued already. got a few million bucks. it is not nearly what he would have made as a player. they settled out of court. nike giving him a ton of money. he has speaking gigs. he doesn't have to get tackled. plus if he goes out on the

field, and terrible. it will back up all the critics that the nfl would sign anybody including o.j. in, years left after he was acquitted. i'm telling you right now if kaepernick could play he would have found a team but he couldn't start on a terrible 49er team. he became obstinate in the clubhouse. they don't want to pay a lot of money for a clubhouse distraction. now they would welcome that distraction. now the whole league basically committed to kneeling during the national anthem. stuart: yeah. there is a lot of trouble in the world, isn't there? i see it in your face every morning when i student in to "fox & friends" at 6. you're not happy with what is happening in this country right now. >> do you know anyone that is? between the war on history, the civil unrest and the pandemic and the election? stuart: yeah. >> this is intensity we've never seen in our lifetime. stuart: you got that right. brian kilmeade. thank you very much for joining us. we'll see you again real soon.

promise. thank you very much, brian. >> thank you. stuart: by the way the dow has now dropped, i should say, only up 300 points. it had been uphundred, 800. some of the things jay powell is saying upset investors. next one, no mask, no flight, details from united that could put you on the no-fly list. gold's gym looking to rebrand itself after filing for bankruptcy. i'll speak with the ceo of the company, what it is looking now to boost its bottom line in the future. mainstream media hypocrisy. large crowds and protests getting support for weeks. now the media is coming down hard on the president's planned rally because of health concerns. jam-packed show for you. next look, this isn't my first rodeo...

and let me tell you something, i wouldn't be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. it's just a loan designed for older homeowners, and, it's helped over a million americans. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan, like any other.

big difference is how you pay it back. find out how reverse mortgages really work with aag's free, no-obligation reverse mortgage guide. eliminate monthly mortgage payments, pay bills, medical costs, and more. call now and get your free info kit. other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. discover the option that's best for you. call today and find out more in aag's free, no-obligation reverse mortgage loan guide. access tax-free cash and stay in the home you love. you've probably been investing in your home for years... making monthly mortgage payments... doing the right thing... and it's become your family's heart and soul... well, that investment can give you tax-free cash just when you need it. learn how homeowners are strategically using

a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be a part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. so you can... retire better.

♪ stuart: okay. appropriate music, i'd say. it's 11:00. you're looking at sixth avenue, new york city. there is a bit more activity there compared to previous months and we do have the remains of a stock market rally. look at this. now we're up 150 points. we're way off the high. we were up over 800 earlier, after jay powell warned about social distancing hurting the recovery. when he said that, the market came from an 800 point gain to where it is now, up 150.

we do have lots of positive news, however. how about surging, i mean surging retail sales in the month of may, up 17%. a possible new virus treatment which cuts down on mortality. big deal out of england. a reported infrastructure plan worth $1 trillion coming from the white house. and we've got more good news. two more states ease their lockdown restrictions today. in georgia, groups of up to 50 can gather. restaurants and movie theaters no longer have capacity limits at all. missouri fully reopening today, all restrictions are now lifted in those two states. got that. now this. liberals hate this. the stock market is rallying and the economy is coming back strongly from the virus lockdown. the last thing the left wants is the restoration of prosperity right before the election. but that's the road that we are now on. first and very important for the immediate future, is the

president's push to relax restrictions and get the economy going again. that's really important. he is leading the charge. he's all for opening up because we can't take the economic pain of the lockdown forever. secondly, the federal reserve is riding to the rescue again. you may disagree with the biggest money printing operation in history, but it is working. corporate america is getting the financial support it needs during this unique virus crisis. check your 401(k). you'll like what you see. third, reports this morning that the administration is considering a massive infrastructure program, $1 trillion worth. this is another stimulus plan. yes, infrastructure has been talked about for years but if it happened now, it would help an economy that's coming out of the worst downturn ever. when you wake up in the morning, you were greeted with news headlines that make you weep for america. remember this. remember the big picture. we are opening up. the economy is growing again.

we are, i think, back on the road to prosperity. let's see if my colleague and friend charles payne, the host of "making money" on this network, does he agree. are we on the road solidly back to prosperity? what do you think? charles: absolutely. 100%. there's no doubt about it. but we can't get too relaxed, right. so is there going to be negotiating over the next couple weeks in congress about what kind of stimulus to provide or not, and listen, we had an amazing may jobs report, an amazing retail sales report, but if you use the unemployment number, there are still about 22 million people unemployed. we still need that little bit of a push. i think the most important thing is when we are allowed to do it, when we are allowed to go to work, allowed to go outside, our economy prospers. that's the most important thing to remember with all the data that's coming through. stuart: i'm just going to break in for a second.

you may not be aware of this but we have news out of china. in beijing, they are beginning to shut down again. what was that about compounds being shut down? tell me again, please? okay. they are encouraging work from home and in the capital, some of the compounds of senior officials have been closed down again. that, i think, is one of the reasons why the market has gone from an 800 point gain to a 200 point gain. any comment on that? a second wave in china and its reaction here? charles: well, china is definitely the proxy because they shut down before everyone did, they of course have got, you know, a totalitarian government so they were able to really lock people in, hundreds of millions, tens of millions, at least. so we look ahead at them and what kind of growing pains they're going through. it sends a ripple of reality into us, into our economy. we know we are going to have upticks in cases but we also know we have to live with them.

i heard you talking about chairman powell. i think from what he said so far, from what i have seen, the one thing, i wrote it down as soon as you said it, the dow is up 788. he said he's going to keep rates at these levels as long as they feel comfortable. remember last wednesday, they said for two years. that was the nuances wall street looks for but he did talk also about the virus being under control. before he used to talk about a vaccine. i think that's really important to realize. he is saying what the market has been saying. we can learn how to live with this if we do it smartly and even prosper while we co-exist with covid-19 until we find a vaccine. stuart: i think it's one of the big investment banks, i think it's morgan stanley, they are saying that we could get back to pre-virus levels in the economy by the end of this year. that would be a classic v, a very sharp-edged v. do you agree? big-time. v for varney. what do you think?

charles: you know, i got to tell you, that's what the market's been telling us just in the last 24 hours. we got home builder sentiment number that went through the roof. i mean, significantly through the roof, showing expansion in single homes, six months ahead. yesterday the manufacturing side, the empire state number, expectations through the roof. the best expectations jump in more nanthan a decade. of course, retail sales this morning. look what's coming back. department stores are up 39%. then there's the jobs report. right now, it's hard to argue about a v. i don't know if we get back to exactly where we were in february, but i think that momentum we had in january and february can resume certainly into the third and fourth quarter. i would not bet against it. stuart: i notice the market has come back a little after the brief scare about the re-clampdown in beijing. charles: that's the c.p. effect. stuart: yeah, right. now we are up 350 points. there you go. very good, charles. you've got the vice president on your show tomorrow?

charles: yes, sir. and there's obviously a lot to discuss here. we are at a crossroads of sorts. there's a lot of philosophical things going on even within the republican party. we talked about the notion where a lot of fiscal conservatives don't think we need to add more juice to this economy. i think we go transitional from relief to stimulus. we will see what he has to say about that. infrastructure, i heard you talking about that earlier. just the overall state of affairs in this country, you know, there is an awakening in this country and it's going to be intriguing to see where we go from here, stuart, as a nation. how introspective we can be. not guilty, not hating ourselves, but finding a way to be better as a nation led by the president and vice president. stuart: you are so right. charles payne, we will be watching. thanks very much indeed. see you again real soon. got it. 2:00. excellent. all right. all right. breaking news. conservative leaders, some of them, have sent an open letter to president trump and senate majority leader mcconnell saying they are fed up with all this

stimulus spending. blake burman, dig deeper, please. first of all, tell me who's on the letter? reporter: a bunch of them, stu. art laffer, steve moore, grover norquist, just to name a few. they have just sent the letter to president trump and to the senate majority leader mitch mcconnell essentially saying no more spending when it comes to covid-19 relief measures going forward. let me read you part of the letter here real quick. this is how it starts. they say quote, to ensure the economic health of our citizens and the financial wellbeing of our nation now and for years and decades to come, we urge that the multi-trillions of dollars of federal government debt spending in the wake of the coronavirus come to a stop. there is no limit to worthy causes but there is a limit to other people's money. the letter ends by saying in short, runaway government spending is the new virus afflicting our economy. they do call for a payroll tax cut. i mentioned steve moore. he was on your show yesterday

and here's what he said relating to all of this. watch. >> we are against any new spending. we have already spent $2.5 trillion to $3 trillion that the government spending is actually right now a detriment to the recovery, and the one thing we're for, i have said it so many times on this show with stuart varney and i will say it to you, get rid of the payroll tax for workers and employers for the rest of the year. that will be a big, big juice to this engine of getting it back restarted. reporter: stuart, that is one side of the argument. the other side today, we have also heard in a statement from ben bernanke, janet yellen, austan goolsbee, who have put out a statement who say that we do need more relief spending in the future, especially once the cares act expires. keep in mind, over here at the white house, negotiations will take place later next month for next step measures. stuart: i would like to be a fly

on the wall and so would you. okay. it's not going to happen. blake burman, thank you, sir. see you soon. all right. grover norquist is with us. he had a hand in writing this letter. grover joins us now. grover, let me -- i'm just going to ignore the letter for a second. if we don't get more stimulus, we might not have a really solid recovery by election day. and that could hurt president trump's chances of re-election. it could mean the election of a big tax and spend liberal to the white house. have you factored that into your considerations? >> yes. you have to remember, of course, that any piece of legislation, any bailout, so-called stimulus package, spending government money doesn't stimulate anything, it just moves it around from one person to another, any piece of legislation has to have nancy pelosi's approval. she will not allow the house to pass any bill that would help the president get re-elected or that would do anything helpful to the economy. we have seen the $3 trillion

proposal she has which is just funding left of center efforts. the oidea -- infrastructure is french word that means everything except roads and highways. the reason they talk about infrastructure is the democrats have no interest in putting money into roads and highways. it's a mistake to give them money pretending that that's what they would put it into and the democrats for three years now have refused the very good idea that president trump put forward which is let's speed up the permitting and save trillions over time by doing things in two years instead of ten years, and put money into roads and highways. they're not interested in roads and highways and they're not willing to budge on permitting which means you're just wasting the money and nothing would happen between now and the election. it would all be spent later. stuart: i don't see why spending money to build a road or build a bridge or build out 5g networks in rural areas, i don't see how

that actually hurts the economy. i don't get it. >> because it would be a tax -- first of all, they won't change the rules on permitting which means they're not going to do roads and they're not going to do bridges between now and five years from now. certainly not between now and november. stuart: that's what you're saying but you don't know that. you don't know that for a fact. you're speculating on what might happen. >> you want to put any money on this? the idea that nancy pelosi has spent three years fighting against speeding up permitting. the left has said absolutely not. they have announced in their own infrastructure bill that it's not going to be about highways because they're not interested in building highways because they don't like cars. they have other things they want to put the money into in their causes. nancy pelosi will not allow out of the house a bill that does any good. stuart: real fast, how many republican senators do you have writing that letter?

>> this is a letter from outside groups that we just sent in, free market groups and organizations, and we are trying to continue a discussion. the republican senators understand the danger of another bill which will get trapped up in left of center agendas and massive new spending. you go in saying a trillion, you're not going to walk out the door with a trillion. it will be closer to what nancy pelosi wanted if you expect the house to sign it. that's why the danger is -- we got taken the last time when she put that $600 per week into unemployment which is slowing the return to work for too many americans between now and august. that was a very expensive mistake. stuart: got to leave it right there. thanks for joining us as always. i'm sure this debate will go on for a long time to come. grover norquist, everyone. thank you, sir. look at the white house, please. in less than an hour, the

president is going to sign an executive order on safe policing. we are monitoring it and will bring it to you live when it happens. breaking this morning. home builder confidence really surging. what does that mean for the housing market and real estate generally? we're on it. new york's governor andrew cuomo doubles down on threats to reverse the reopening process. as people defy the rules. watch this. >> the local governments, i say do your job. do your job. local governments are supposed to be enforcing compliance. stuart: all right. he's concerned with what people do in restaurants and all. but what about the thousands of protesters on the streets? we will take a look at what might be a double standard, next. ♪ robinhood believes now is the time to do money.

without the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood.

and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ]

only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: let me see now. bottom right-hand corner of the screen, the market's coming back. we are now up 450. left-hand side of the screen, a live look at capitol hill. the senate judiciary committee is holding a hearing on the use of force by police. hillary vaughn, take me inside the hearing, please. reporter: well, stuart, we are still waiting for the hearing to begin this afternoon but we are going to hear from several police chiefs from around the country that are going to give their takes on really what changes need to be made, what guidance should be given to police departments on the federal level for use of force and if any changes need to be made. this is coming the day before we are expecting senator tim scott to unveil his police reform bill tomorrow, guidance or his

proposals for changes that he thinks need to be made. some of those changes include banning chokeholds, making sure that those are not utilized moving forward, also more money for body cameras so that interactions between people and police are documented and can be looked back on and also, making sure that police departments around the country really reflect the communities that they serve. that's what i'm told are kind of the three planks of this legislation. there is one big question here. will qualified immunity, the rule that essentially makes it virtually impossible to sue police officers for actions that they take in the field, if that will be addressed. senator tim scott has said he kind of wants a decertification process as a halfway point to be included in this bill, but we will wait to see if that's part of it. stuart: i'm sorry. i thought the hearing had started. it's this afternoon. i will get that right. thanks, good stuff. staying on the police. here in new york city, 600 plain clothes officers have been reassigned. the police department in this

city is weighing police reform. lisa booth is with us, fox news contributor. lisa, can i just look at the big picture for a second. i don't think america approves of defunding the police. i don't think america approves of, you know, throwing stuff at the police and disrespecting them left, right and center. what my bottom line is, president trump wins this argument in my opinion. what do you say? >> well, i actually, i don't approve of what president trump is doing today. i think he's solidifying and giving way to the anti-police narrative that we are hearing both in the media and also among the left right now and i think going out today and doing what he's doing plays into that. i don't support it. stuart: what do you support? >> well, i support standing behind the police officers in the country who already don't make enough money to go out in

the streets and protect their communities, and right now, they have a massive target on their backs. nobody wants to tell the truth about what's happening in this country and i think it is a shame and it's really hard to take people seriously when they want to talk about police reform, when they group what happened to george floyd in with what happened to rayshard brooks. those are two entirely separate incidents. everyone with a reasonable mind would look at what happened to george floyd and say that is fundamentally wrong. that is murder and derek chauvin, the police officer who did that to him, deserves to be punished. there should not be people like him out in the police force. but when you look at what happened to rayshard brooks, it's an entirely different thing. he attacked the police officer. he used a taser against them. he is a man with a criminal record. those are two different incidents. it's very hard to take this conversation that is happening in the country seriously and credibly when people group those two incidents together. stuart: the conversation is one-sided because i think we have lost our freedom of speech on this issue. you may not publicly express an

opinion contrary to say black lives matter. you do that, you can lose your job. i mean, free speech is gone on this issue. >> well, free speech is gone in the country, period. i think it's an absolute shame. look, we're not russia or china. we live in a free country. we live in the greatest country in the entire world, where anyone can get ahead, where you don't have those opportunities in other countries, but we as a society are voluntarily giving up those freedoms with the cancel culture that exists today. it is absolutely ridiculous. people, even individuals in the media where it's a threat to even speak freely because you could potentially lose your job. yet this is happening in america. i got to tell you, i took a break for the last two weeks and i have just been aghast with everything that is happening in this country. it's nonsenseical, facts don't matter. you have people in the media pushing narratives that aren't true and aren't supported by the facts and it's a shame. stuart: you took a two-week break. did you watch the news during that time? look, we are in the news

business. i know we are. we have an obligation to follow the news. but when we take a break, for example, when i take a break, i tend not to look at the news because it's negative. i hate to see this happening to my country. >> i did pay attention to the news because it's impossible, how could anyone -- it was impossible. how can anyone see what's going on in the country and not just be deeply sick to their stomach. as anyone who loves this country, who wants this country to be united, how can you not just be seeing what is going on and just being absolutely devastated and sick to your stomach? stuart: well, look, lisa booth, we are glad to have you back and glad you're on the show today. don't be a stranger. see you again real soon. that's a promise. thank you, lisa. >> thank you, stuart. appreciate it. stuart: sure thing. sure thing. better check that market. the dow is now up 500. that's quite a rebound from a plus 150 that it was a few minutes ago. look at big tech. really blazing the trail here.

microsoft is up five bucks. apple is up six. facebook is up three or four. i think amazon is up about 40 bucks. on down the line, big tech doing very well again today. so are the retailers. we had a big number this morning for may retail sales, up 17.7%. retail stocks, way up this morning. lauren, anything else on this story? lauren: it was the biggest monthly increase ever. of course it was coming after an awful decline that we saw in april, but now we are seeing some economists increase their predictions for how fast the economy grows in the second quarter so still a contraction but not as bad and as jerry storch told you earlier, he thinks it only gets better from here. listen. >> it's a little easier to have strong year over year numbers in may than it is during the holiday season but i have a feeling by the time we get there, unless there's some giant flareup in the virus, i have a

feeling that people are going to learn how to live with it. lauren: i think we are. we are learning how to live with it. stuart: you got that. lauren, thank you very much. in less than an hour, in the white house, president trump will sign an executive order on safe policing. it's expected to include a data base to track police misconduct. it will also give more mental health resources to law enforcement. less than an hour from the signing. mortgage rates could plunge to a record 2.9% next year. so is now the time -- i don't know who says it could -- if we can get down to 2.9. i guess fannie mae. is it time to start thinking of buying a home? you bet it is. we will discuss it next. ♪

there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us. i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right.

so thank you. ♪ 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. there's always some new challenge trying to take us out. to shake our resolve. and if you're out there fighting through it, we know 260,000 people who have your back. it's kept me busy, it's provided for my family and i've been running cranes for this will make 34 years. i'm ready to retire. it's been since 2011 that i've really started getting into precious metals, moving money out of the stock market trying to protect some of it. makes more sense to me than a piece of paper and it's an awesome feeling to hold that in your hand.

i mean, it's been in monetary value for thousands of years and it'll be here for a 1,000 more. there's always a risk. i mean, you take a risk put your money in the bank, you take a risk putting in the stock and bonds. i know i worked hard for it and i know it'll be there tomorrow and the next day. precious metals has given me the security in my life knowing that my family's taken care of knowing that my future is taken care of. what they've done for me in my portfolio is i can't, i couldn't ask for anything better, i really couldn't. i'm well ahead and i'm very happy. (laughs) my name is dan and i've been a customer with u.s. money reserve for about six and a half, almost seven years. - you know there may never have been a better time to start diversifying your assets with physical gold and silver and right now it's easy to get started.

just pick up the phone and call u.s. money reserve. - [narrator] if you've bought gold in the past or would like to learn more about why physical gold should be an important part of your portfolio pick up the phone and call to receive the complete guide to buying gold which will provide you important never-seen-before facts and information you should know about making gold, silver and platinum purchases. - with nearly two decades in business, over a billion dollars in transactions and more than a half a million clients worldwide, u.s. money reserve is one of the most dependable gold distributors in america. stuart: all right. the market's come back nicely, thank you very much. why? because jay powell says the federal reserve will not raise interest rates until at least the end of 2022. we are up 150. now we are up 450. there's also a surge, i mean a real surge in home builder

sentiment. there's a number for you, 58. that implies a surge in confidence from the guys who build our houses. they are going to build a lot in the future. jerry howard is with us, national association of home builders, the ceo thereof. that's a remarkable number. that is a complete turnaround. you guys have turned wildly positive. is that accurate? >> absolutely accurate. it's the single largest jump we have ever had in the history of the index. and it's backed up by my conversations with builders all over the country, stuart. everyone is excited that the economy's reopening. we were headed for a record year before the covid shutdown and i think that we are going to get back on track and we are prepared to help lead this economy back to full strength. stuart: i think you are getting some help from interest rates. we have just had jay powell say that they're not going to raise rates until at least the end of 2022, and fannie mae expects mortgage rates, they may come

down to 2.9% next year. 2.9%. that's a -- both of those items are another big plus for you guys, i would have thought. >> it's a huge plus. when you take that into account and combine it with the fact that the president has ordered his various cabinet agencies to look at what barriers they have in their regulations that make it difficult to build homes, you've got it going really well. if state and local government officials really want to get their economies back on track and refill their tax coffers, reduce the local and state regulations. let's build more homes. we are about a million homes short right now of where we need to be to meet this really really record demand that we're facing. stuart: where is the most active demand for new homes? which states? >> you know what, stuart, it's really not a state by state thing. the most active demand is appearing to be in the suburbs and exurbs all over the country.

i think the covid quarantine has led people to really come back to an appreciation for a single family home, a home large enough where you could spend significant time, you are able to deal with it in a much more relaxed manner. stuart: we have often spoken about this but the trend, i think for the last 10, 15, maybe 20 years, is towards smaller new homes, not the big mcmansions that used to be built in the '80s and '90s in the last century, but smaller homes. is that trend now to be reversed? people want bigger homes? is that accurate? >> it's early yet, but i think that that is accurate. what we are finding already is that people want a very very good reliable home office situation now, and people also would like to have a room somewhere in their house where they can get some physical exercise. those two factors alone would indicate that your premise is correct. stuart: could you, at risk of

offending anybody, could you pick out a state which is most conducive to building a new home? >> the carolinas are going great guns. texas is going great guns. idaho is very strong. i guess those would be the ones i would point out. stuart: california? >> california has been one of the most heavily regulated states in the country. i think that the governor out there has talked about doing something to help spur home building, but we've got to see it put into action before i would put them anywhere near the states i just mentioned. stuart: jerry howard, a very happy man, representing the home builders of america. we appreciate you being with us. love that smile, jerry. good stuff indeed. thank you. >> good to see you again. stuart: sure thing. now this. i would consider this good news. a study from oxford university in britain says a steroid improves the chances of survival from the virus by up to

one-third. i think that helped the market. it was big news earlier today. the market went up on that news. it's still helping. look at eli lilly. they say their experimental breast cancer treatment showed positive results. that stock is up 14%. that's a huge gain for a stock and a company of that size. let me get to football. the players for the cowboys and texans reportedly test virus -- reportedly test positive for the virus. what's the players union doing about this? what's the news? ashley: yeah. well, you know what, it's still very muddled. there was a conference call yesterday between the league and players' agents, the union rep was on the call. what came out of it, not a whole lot. one thing we do know is that the players could be tested under one proposal about roughly every three days for the virus. that plus conditioning and if everyone gets back to training camp, projected late july, they

could miss the first two preseason games of the season because of all the extra testing and all the other steps that have to be taken to maintain safety. the nfl says it could lose $3 billion in total in revenue if the players play in front of empty stadiums throughout the season. that's not expected to happen but we don't know at this stage. an extended period of testing and conditioning, though, could wipe out the first two preseason games. but frustratingly, still no absolute agreement on how this thing is going to take shape. stuart: that's football. at least they will play a few games. that's better than baseball which looks like they won't play anything. tell me about the denver broncos and is it fan duel? they are teaming up to do what? ashley: yes. a sign of things to come. a dual partnership between the nfl team and the gambling site. you know, since vegas got a football team, all bets are off, ha, ha. look, this is going to happen across the country, combining

cross-promotion between the gambling site and the team, in this case the denver broncos. look, they have been picking up steam across the country, these sports betting sites that people go to, especially in light we have had no sports to bet on. there's real desperate need to actually get sports playing again and for that whole industry of people who like to place bets and again, with that team in vegas, this is going to be something we will see a lot more of. fan duel, the denver broncos, the first of what is likely to be many other partnerships between gambling sites and the nfl. stuart: however, i believe epl as in english premier league soccer, starts again tomorrow. but i don't want to spend too much time on that. yes. ashley: finally. stuart: aston villa plays sheffield united. all right. next case. there's a brewery in new england and it's not taking tom brady

and rob gronkowski's departure to tampa very well. look at this. smug brewery came out with a new beer called traitor-ade. they wrote this beer reminds me of getting old and having to retire in florida. okay. gold's gym shut down 300 locations when they file for bankruptcy just one month later, they are introducing a new franchise model to boost business. more on that coming up. first, the mainstream media hitting the president hard, of course, for his upcoming rally in oklahoma. watch this. >> does sound like a worst case scenario for a super spreading events. >> >> why would trump allow his supporters to put themselves at such risk? >> we need to stop that. we need to ban political rallies. stuart: oh, that's interesting. ban political rallies. how about those massive protests. are they still okay?

we will take a closer look next. ♪ ♪ ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey ♪ yeah car vending machines and buying a car 100% online.vented now we've created a brand new way for you to sell your car. whether it's a year old or a few years old, we want to buy your car. so go to carvana and enter your license plate, answer a few questions, and our techno-wizardry calculates your car's value and gives you a real offer in seconds. when you're ready, we'll come to you,

pay you on the spot, and pick up your car. that's it. so ditch the old way of selling your car, and say hello to the new way-- at carvana.

a packed indoor facility with people yelling and screaming and cheering next to each other without masks does sound like a worst case scenario for a super spreading event. my question is, you're not legaling peoplegal i letting people have concerts and big gatherings. why would president trump do it? >> his supporters even to put themselves at such risk. stuart: for weeks, the media has supported vigorously nationwide protests but now they are saying president trump's upcoming rally is a public safety concern. joe concha is with us, media reporter for "the hill." double standard, joe. any way you slice it. right? >> i would love to do an autopsy one day and see if some of those folks you just played in that

montage were born without a self-awareness gene. they either think their viewers are stupid, right, or they just believe what they are actually saying and don't go back and look at what they have been saying over the last couple weeks. to your point, around protests that have been going on nationwide. i saw one in brooklyn over the weekend, stuart, there were tens of thousands of people, very very tightly packed in without any social distancing what stover andwhatso ever and i read the led linhead and it praises the protesters without any mention of the risks. if you are going to talk about health concerns around covid-19 and public gatherings, you are either going to be for it or against it regardless of whether it's a protest or a rally. my wife is an e.r. doctor here in new jersey. i remember a lot of concern for health officials and for health care workers in treating covid patients a couple months ago. now that's all gone out the window because apparently, the

cause is bigger than the virus. stuart: well said. i think you're exactly right on that one. now let me talk to you about the op-ed from republican senator tom cotton that pushed the "new york times," editorial page editor, had to resign because he allowed the publication of that editorial opinion. now we find the publisher at the time regrets forcing him out. what's going on here? >> okay. his name is james bennet. if the publisher feels that way so strongly, that he laments and regrets it, why don't you hire the guy back? because he didn't do anything wrong, stuart. look, the tom cotton op-ed, remember, was about should we use the military at times when there's violent protests to help quell them, to help maintain order. we saw so much order go out the window in new york, in seattle, in washington, in major cities across the country. okay. is that such an extreme position? well, there's an abc news poll that came out just last week that said that 52% of americans

supported using the military in those situations, 47% against. that's literally the definition of an op-ed where half the country may agree with it, half the country may disagree with it. you put it out there and allow people to debate. for that editor to be forced out was just deplorable and absolutely he should get his job back. you lament it, fine. give the guy his job back. let him work again. stuart: to which court does he go to apply for getting his reputation back? >> good point. stuart: look, this is all about free speech, joe. that's what it is. i think free speech is under major attack in the united states at the moment. you are not allowed to express certain opinions on certain issues, period. >> that's exactly right. we are seeing this, this is a battle for the soul of journalism at this point in terms of only allowing one opinion, one side and the other side is deemed as dangerous. no, i'm sorry. that's not what the first amendment is all about. i would hope now more editors,

more producers start to see this, that the american people just don't want to have only one choice and only one opinion because they will just start shutting off their tvs and stop reading those newspapers. we are already seeing it already on the newspaper side. hopefully this doesn't continue. it's a dangerous moment right now. stuart: it really is. thank you. thanks for joining us this morning. good man. thank you. >> go, arsenal! stuart: whatever you say. i'm a liverpool guy. tesla on the downside today, a loss of $11 a share. two items there. i need more from susan. number one, are they going to build a factory in texas and number two, what's the range of the model s? susan: what do you think of man u? maybe a little later. all right. yeah, let's talk about tesla, first of all, in austin, texas. it looks like they have narrowed down the lone star state for their next production factory. we know they have one in fremont, california which you know elon musk is not entirely happy with but austin, texas might get the next giga factory. austin provides a lot of lucrative incentives, talking

about 50% property tax reimbursement, 3% wage reimbursements back for every job, and don't forget, lot of tech companies already operate in austin. talking about apple, google and the like. so you know, looks like the lone star state with lowest income taxes might receive the next factory which comes with 10,000 jobs and also elon musk says $5 billion to the state economy. stuart: real fast, the model s, am i hearing that it's got a range on one charge, 402 miles. that's pretty good. susan: okay. what does that number say to you? i'm curious. that sounds good, yes. it's not the million mile battery but 20% up from last year and elon musk contends actually if the epa didn't have a bad test of opening doors and leaving keys in the ignition it would even be longer range. stuart: that's pretty good. 400 miles is 400 miles. it's better than a tank of gas, actually. all right. thanks, susan. coming up, the ceo of gold's gym. i want to know how he's reopening and reemerging from

bankruptcy. he's got a plan. he will slhare it next. ♪ incomparable design makes it beautiful. state of the art technology makes it brilliant. the lexus nx experience the crossover in its most visionary form. experience amazing at your lexus dealer.

sawithout evenon yoleaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online.

once you activate, you'll only have to pay for the data you need- starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. it's the most reliable wireless network. and it could save you hundreds. xfinity mobile.

stuart: i guess the market's

listening to what jay powell's got to say because we have come back nicely. mr. powell says we will absolutely recover in the long run, absolutely will get back to a full recovery, and we're not raising rates until at least the end of 2022. the market loves that. we are up 545 points. then there's gold's gym. okay. they filed for bankruptcy in may, after closing 30 gyms in the month of april. adam zeitsiff is the owner of gold's gym and joins us now. welcome back to the program. very good to see you. i just want you in a nutshell, can you tell us your comeback plan? it sounds a bit like you will shrink deliberately. >> yeah. our comeback plan is certainly to open our gyms in a safe, successful manner as well as to offer new products out there. the whole gold's gym experience in a smaller footprint that entrepreneurs can partake in and open up all around the country. stuart: what are the new products you're coming up with?

>> yeah. so these are scaleable footprints, footprints that can be anywhere from 10,000 to 15,000, 20,000 square feet compared to our traditional 30,000 to 40,000 square foot gyms. they offer the full gold's gym experience. cardio equipment, our strength, our classes, personal training, kids' club, you name it, just in a smaller footprint for urban areas with expensive rents or smaller cities that really can't fill 30,000 or 40,000 square feet. stuart: in other words, you have to shrink the size of each gym and shrink the overall number of gyms you are operating? that's basically it? >> well, for us it's not just shrinking. our 30,000 to 40,000 square foot traditional gyms are very viable all over the country and all over the world. but they weren't in some places. so this new scaleable footprint gives the option to have both, a larger gym and some smaller gyms to fill the void everywhere. certainly we don't want to shrink our footprint in terms of number of gyms. that was part of our restructuring plan. now we are looking to grow

aggressively through franchising and grow our brand around the world. stuart: bring me up to speed here. i know you declared bankruptcy in may. what was it, chapter 11? where you've got, you know, you've got -- creditors are not at your throat so you can come out of bankruptcy at some point in the future? what's your target date? >> yeah, the covid pandemic was tough on the entire fitness industry. our target date, we should still be on track to emerge the first week of august, a leaner company, stronger brand around the world and really ready to aggressively grow. stuart: do you feel that there's been sort of a shift in the public's demand for fitness, demand for gym workouts? any shift that you can see? >> yeah, i think what you're seeing now, stuart, is the full hybridization of fitness, where people want to come to the gym and they want to get back here a few days a week but we all learned how to work out at home over the last three months. that will still be part of their lives but they will be in the gym three or four days a week, get a workout at home, digital fitness and brick and mortar fitness are really coming

together and converging and this pandemic accelerated that. a company like gold's gym, we are ready for it. stuart: we wish you the very best of luck, because we can all use a little fitness in our lives. you are going to do it for us. adam zeifsiff, thank you for joining us. appreciate it. thank you. >> thank you. stuart: all right. more "varney" after this. w. and right now, is a time for action. so, for a second time we're giving members a credit on their auto insurance. because it's the right thing to do. we're also giving payment relief options to eligible members so they can take care of things like groceries before they worry about their insurance or credit card bills. right now is the time to take care of what matters most. like we've done together, so many times before. discover all the ways we're helping members at usaa.com/coronavirus . . . once-daily 3 in 1 copd treatment. ♪

with trelegy and the power of 1, 2, 3, i'm breathing better. trelegy works 3 ways to open airways, keep them open, and reduce inflammation for 24 hours of better breathing. trelegy won't replace a rescue inhaler for sudden breathing problems. trelegy is not for asthma. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. think your copd medicine is doing enough? maybe you should think again. ask your doctor about once-daily trelegy. we know times are hard and we're here for you. find support at trelegy.com.

s

stuart: jay powell says that the economy is reached bottom of the virus impact. that the recovery may be

affected by social distancing but he does say, absolutely, we'll get back to a full recovery. he moved market up and down all morning long. right now we're up 460 on the dow. my time's up, but neil, sir, it's yours. neil: thank you, stuart, very, very much. he did give something to everybody. you can play with whatever angle you want if you're a bull or bear. we're following up on impact of his statement, stuart, and again the impact on traders. meantime we want to let you know we're waiting to hear from the president of the united states. he is shortly going to outline his plan, not only to satisfy those who say we have to rein in police departments whether they get too aggressive, going particularly after minorities but not so much so that we lose sense of law and order. it will be a delicate balance. an executive order we're told will be sweeping but again not too sweeping. whatever that means. blake burman following it all from the white house. reporter: we should