charles: okay. >> i think it's just going to take more time. i put a good word in for home builders. you know, stay at home is going to be stay in a new home. charles: okay. got to leave it there. david and david, great information. always fantastic advice for the viewers. liz claman, they tried to pull it down on me but i'm giving you a solid ten point dow rally for the last hour of trading. liz: thanks, dude. that's jaereally generous of yo. ten points. actually, negative 1 now, charles. i'm going to get blamed for that. charles: it's all you. liz: thanks. true friendship there. yeah. guys, we have had very choppy trading and the reason is that markets are caught in the coronavirus tug-of-war once again. we did have stocks, all three major indices pushing much

higher in early drtrading after yesterday's 700 plus point loss on the dow but then the dow started pulling back at one of the nation's largest states officially hit the pause button on its reopening. it is texas. texas now stuck at phase three statewide. they are banning elective surgeries in four counties including dallas, as austin area hospitals warn they could reach capacity by the middle of july. the rapidly spreading virus is not stopped in its tracks. coming up, ceo of classic stay-at-home stock identity and password management star okta. the ceo is here with a covid-19 shocker. what many people are still not willing to do even in the face of new outbreaks. but the pandemic is actually providing a boost to polaris. they are facing a supply crunch as demand for the great outdoors kicks into high gear. the ceo of the atv giant is here on what he's doing to keep his recreational vehicle giant from

going off-road. from too much demand. kind of a good problem to have. and brady versus portnoy. the five-time super bowl ring wearer and blogging rock star going head-to-head on instagram but whose side is barstool sports' ceo on? the lead grownup in the room of barstool sports is here live on that in just a few minutes. plus the new app for betting that barstool was getting ready to launch. plus, back in the covid bull's eye. you have the mouse house there. the ev monster truck battle heating up and charlie is about to break it on a big story. less than an hour to the closing bell, let's start "the claman countdown." liz: breaking news. apple has just announced that beginning tomorrow, it is closing 14 stores in florida in

locations including miami and boca raton. this as covid-19 cases are starting to rise at an alarming rate. now, this is separate from the seven stores in texas that the iphone giant said it would close, and that was announced yesterday. so we are watching this as we speak. it is a work in progress. things are developing rather quickly in this final hour of trade for many different companies. apple's stock is still up about .33%, $361 a share. let's get to the pop and drop stocks right now. did electric vehicles just get a major signal from the trump administration? maybe a green light? to warren, ohio and the former gm lordstown factory where vice president mike pence just finished touring the lordstown motors plant where the electric truck company which is, by the way, 10% owned by workhorse, just did a big unveil of its new endurance electric pickup. workhorse stock jumping as much as 14% earlier, has reversed.

it's down 1.5%. but the excitement comes on the possibility that the administration is finally starting to cozy up to electric vehicles and the united states leadership position in that area. workhorse has been on a tear, though, jumping 372% quarter to date. to the rivals, tesla which traded this morning as low as about $939 a share, had been lower. it is now up by 1.5% to $975.99. tesla slated of course to start building its super-cool cyber-truck in 2021. gm is hoping to build its first electric pickup and the hummer which was, yeah, the all electric hummer was actually delayed. nikola is trailing the pack with its electric truck called the badger slated for production by 2022. gm is down 1.33%. nikola is down just under 1%. okay. to the mouse house. it is slipping on its announcement it will delay the reopening of disneyland.

the two anaheim, california parks that make up disneyland were originally slated to blast back open their gates july 17th. but now we don't have a date for when they are pushing it out to, because they will not be issued more guidelines by the state of california until after the july fourth holiday. disney is down 1.75%. while the park opening has been postponed, the downtown disney district is still expected to open july 9th. rival theme park stocks from comcast which is down about .33% to sea world, six flags, these are names we are watching very closely because we are getting different dates on them. the dates are suddenly starting to move on when they will reopen. sea world down 2.5%. six flags down .5%. by the way, disneyland reopening is not the only disney property in jeopardy. the july 24th release date of its live action movie "mulan" may be pushed back again, as

covid-19 cases surge across the multiple states in the u.s. get to mortgage rates. they are still outrageously low, still near record lows, but that's not enough to help kb homes. it's down 12%, nearly 13% right now. they had their homes falling double digits for sale. they are seeing sales orders plummet 57% in fiscal second quarter which credit suisse called quote, pretty shocking. the home builder blamed covid-19 for delays during the quarter and the increase in purchase cancellations. kb homes now stands just spanning that $29 a share level. all right. look at the dow. it's now back up 156 points. now, even as a tornado of bad pandemic news swirls around the u.s., the economic skies got just a bit clearer after key data reveals today, we have durable goods orders that came out this morning. this is good. they shot up an unexpected 15.8%

in the month of may. boy, that was way better than the expectation of about 9%. when you look at something like that, you say okay, these are big ticket, more expensive items that last two to three plus years, hopefully. then we've got continuing jobless claims. continuing claims finally dropped under the 20 million mark. so down 767,000. continuing claims are not the new people jumping on the unemployment lines, it's the ones who are still there and haven't been hired back. then the final print for first quarter gdp, while still showing shrinkage of 5%, it did not worsen. it remained unchanged from the previous level, 5% contraction. then you get goldman sachs's head honcho david solomon, who said yesterday at an investor conference, the markets are overly bullish on less worse data and they are out of touch with the true reality of the

long-term coronavirus effects that are negative. who's right, the markets or solomon? to our floor show traders. guys, which side are you taking? let me ask sarge first. if you are taking one side, which sectors or stocks support your pick? >> as usual, i can give you an answer but it might be a little lengthy. all right? solomon is wrong about a v-shaped economic recovery. we see this in the labor markets. they are improving but not nearly fast enough. we are at the point in the rebound where we can go no further without suddenly better covid related statistics. the statistics related to covid are getting worse. unfortunately, premature reopenings, the protests, all that that shook the nation, also brought the virus back in the door. now, equities, are they ahead of the economy, yes. is this justified? i'm not sure. they might be. this is the byproduct of supply and demand after funneling all of our capital flows we look at through the whole screening

process, that renders everything else less attractive. stocks have to be expensive. there has been a re-evaluation. earnings, he's wrong about earnings because nobody is looking at q2 or q3. we are looking at 2021 and 2022. all right? folks are going to continue to keep working from home. maybe by choice, maybe not by choice. they are not going on vacation this year. they are going to cook at home regardless. all right. so you want the stocks, you still want the work from home stocks, adobe, salesforce, microsoft. you have the guy from okta on today so we will go with okta. e-commerce, you still amazon, walmart, con-agra, kraft heinz, pepsi, mccormick. you want your treatment plays, moderna, regeneron. you also want to keep your cash, you want to maintain your flexibility even if it hurts your top line performance. nothing beats flexibility in these markets. liz: but sarge, yeah, i love

this. sarge says you want this, you want that, gives this whole shopping list and says keep some cash, too. i need to spend the cash on all the stocks. scott, please explain to me because i'm looking at what david solomon said and saying you know, they can kind of both be right. the markets can be right and david solomon can be correct. >> there's no question about that. sarge makes some great, great points here. the market is ahead of the economy. the market is a leading indicator in most cases. but one thing that i would point out to you and to everybody else is a lot of this right now is what people call the tina trade. there is no alternative. so if people have cash and are putting it to work somewhere, where are they going to put it, into the bond market and get half a percent, whatever it is, for ten years? no. they are picking and choosing in the equity space which happens to be the big cap techs right now leading, and i do think that

to break out of the range we're in, to break out to new highs, we are going to have to get some other sectors to go along for the ride. that doesn't mean, in my opinion, there will be a sector rotation. i do believe that the big techs will still lead this rally and one of the stocks that i love that actually goldman just downgraded last week is slack. this is a company that even before the pandemic hit was on its way. you know, it had ipo'ed, the stock got hit like many ipos happen and then they started picking up clientele. this thing was on a roll even prior to the lockdown. goldman does point out there is some concern that microsoft's product could offset this. but i think slack is one that you have to have, because not only is it on its own merits, this could eventually be a takeout play from microsoft. >> you know, there's one other thing -- liz: i knew sarge was going to do that. i knew you were going to do

something. we are jam-packed because scott just brought up slack. we've got okta coming up, the ceo. stay tuned for that. sarge, scott, thank you so much for your perspective. i have been doing this too long. 49 minutes before the closing bell rings. macy's is dropping nearly 5% after announcing it will be laying off some 3900 workers in an effort to cut even more costs. the retail giant said the cuts were part of a restructuring that it hopes will save 365 million this year and $630 million total annually. macy's down 60% this year, down another 5.25% right now. from one of the top work from home all-star stocks, we have to mention okta. it skyrocketed 65% so far this quarter alone. it's just come out with a new covid-19 survey of its clients that has some rather disturbing and worrisome results. what that survey says and what's

next for okta if and when more people really start heading back to work. what about this latest pause button from texas that's breaking in just the last couple of hours? we've got the ceo of okta coming up. ♪

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liz: so, you know, we mentioned this already but it is big news. just as texas governor greg abbott announced in the last few hours that he has frozen his state's reopening due to an alarming spike in coronavirus infections, work from home is now officially an investment sector. officially. why? because it has its own etf now. direxion today launching a new work from home exchange traded fund, ticker symbol wfc, chock full of companies we have come to depend on that are keeping most of us connected to our offices and co-workers. top five, twilio, crowdstrike, avaya, zoom is in there. but okta is right there at the moment. okta's stock is jumping 3.33%. the corporate password and identity management company basically allows single sign-on to log in from anywhere to multiple cloud platforms and has clients who pay anywhere from $2 to $100,000 a year in

subscription fees. the remote working rock star flexing its muscle, up 76% year to date. okta's ceo and cofounder todd mckinon is watching the covid headlines and joins us live. great to have you. states have begun easing lockdowns. more or less around memorial day. tell us what you were seeing when it comes to remote log-ins and what you are seeing today. >> all our customers, their employees and their customers log into the tools they need to be productive and what we are seeing is that this country and the world is working hard. they are working harder than ever. there's more log-ins, more security events, more usage of technology than there's ever been. we are doing our part to make it easier for them to get in there and make it secure and keep the thing rolling. liz: faas, software as a

service, is delivered online. we love it. we have it at fox. this way we put in one password and then we can suddenly log on to everything from slack to microsoft, mail, et cetera, et cetera. it's just such a huge time saver. your team, i'm sure, has been able to watch basically realtime log-ins. you say people have been working harder from home. i would tend to agree. i know from my own experience, i don't move, i'm just so focused because there's almost a frantic atmosphere to all of this. how do you see catalysts looking ahead be on the coronavirus for brand new subscribers? >> well, i think that we released something we call the businesses at work report which is -- we share with our customers and with the world at large data, aggregated across customer base, to help give them a better feel what's going on. what we saw whether we released

the version of this report for the pandemic a few months ago is that people of course are using more collaboration technology, things like webex, zoom, slack and box and things like that, but they are also using more security tools because they are really making sure that they balance this increased flexibility for work. like i said, we are working harder than ever. we are always on. but they also want to do it securely. i think an interesting idea is think about the secondary effects of security tools that have to be purchased and implemented around this increased use of technology in general. liz: talk about that, security, hackers. hackers have definitely been sniffing around. we know the country of australia recently was a target of a massive state-sponsored hacking campaign. i'm interested to know what your i.t. guys see, because they can see those bad actors knocking around and looking for weaknesses and cracks. are they state sponsored? can you tell?

because that becomes an extraordinarily worrisome issue. >> you know, people are always, no matter what the technology, they are going to try -- some people in the world will try to take advantage of other people's vulnerability. we are seeing the same thing, as more businesses are embracing flexible work, as more businesses are moving their business, their customers and their partners online with better websites and mobile apps, the bad guys out there are taking advantage of that or trying to take advantage of all this vulnerability we have as a society, as a world moving toward that and it's up to us as technologists to make sure we balance all of that flexibility with robust block type. that's what we're dedicated, the entire industry is dedicated to do. liz: with so much of us, so many of us jumping online and working, you just released a survey and one of the questions that you had asked so many, thousands and thousands of your customers, were their attitudes toward privacy and the

coronavirus. if somebody tests positive, and they are e-mailing about it or whathave you, talk about what we found here. >> it was 14,000 consumers so it wasn't just okta customers. it was surveying consumers to get a sense of what their views were on privacy and -- because it's an important issue because we as a society really need to balance, you know, the use of technology and then the benefits of technology and then the downsides of having data being shared and people's personal information being on these services. we want to get a sense of that. the results are very interesting. we see that first of all, people don't really have a great idea of what constitutes their digital identity online. they don't really understand the amount of data that's being collected and the social media services and other types of services, how much data is out there. i think it's hard for us to make

important or intelligent decisions about what's allowed and what's not if people don't even understand the kind of basics of the parameters of what's being shared and what's private and what's not private. we are trying to get that conversation going so that we can build as an industry and as okta better solutions to help give people more control of their data. liz: okay. todd, thanks for making certainly our lives easier with okta. great to have you. thank you so much. todd mckinnen. "the claman countdown" will be right back and we will be back with the ceo of the hottest media sports blog, barstool. at mercedes-benz, nothing less than world-class

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liz: the nfl 2020 season is months away but today the league just called its first time-out. due to the covid-19 pandemic, the nfl is canceling the august 6th hall of fame preseason game

between the dallas cowboys and the pittsburgh steelers. the hall of fame induction ceremony on august 8th is also going to be scrubbed. but it's game on in the social media shoving match between hall of famer and five-time super bowl champ tom brady and barstool sports founder and all-around big mouth, dave portnoy, that has football fans really talking. an instagram post by the former new england patriot quarterback shows him sporting orange, the color of his new hometown team, the tampa bay buccaneers, leading portnoy to then ask via social media, am i crazy or does orange make you look 75 years old? well, how old is brady, 40? whatever. around that. he quickly responded to the slam saying while he is no spring chicken, come talk to him in january. so will portnoy bet against brady when barstool sports launches its betting app for owner penn national gaming?

to the grownup in the rule, barstool sports ceo erika nardini. as a cleveland browns fan, i have no dog in this fight. in fact, i don't like tom brady. tread carefully. when the betting app launches this september, is dave going to bet against tom brady? >> i mean, the patriots fan, he just looks better in blue. it's a fact. dave will bet for whatever he thinks will win money, which is what all bettors should do. liz: it's about money, isn't it. speaking of betting, the new betting app is about to launch in september. this of course with penn national gaming. talk to me about what it's going to offer that's different from other betting apps. >> yeah. we are excited to launch the barstool sports book so we have partnered with penn national, penn national's the largest casino retail casino operator in the country. that gives us a massive

footprint, a very big casino establishment to put sportsbooks into. we are launching our app, you know, aiming for september and the nfl season. there will be a couple things that are different. one, everyone at barstool will be using the barstool sports book. we will talk about it all the time online. we are going to have a hand in creating the parlays and thinking about the bets. we are going to have some fun with it. when you look at sports betting, there's really two things that really matter. one is brand and the other is consumer trust. we have those two things in spades and now we are just building the product with our partners at penn to really back that up, and to give bettors a great experience and to enable them really to have some fun with it. liz: there is one major piece missing. that's live sports. we know mlb has finally come to a deal. they are supposed to start in a couple weeks. nba is supposed to start at the end of july. the nfl hall of fame game has

been canceled. what are you concerned about if there is sort of a paucity of live sports on television that people can actually bet on? do i have to go back to the santa cruz hackie-sack tournament to bet on something that's live? >> yeah. look, everybody is rooting for sports to come back. i think it's great that major league baseball figured things out. like that was painful. but it's good progress and it will be great to see baseball happening, you know, in july. it will be great to see hockey back in august. huge question right now around college football and obviously, nfl. you know, what i really believe is that betters will bet on anything, on the ponies, on hockey, on tennis, tennis is the second largest betting pool on the planet so there is so much betting activity around tennis. you will find people betting around bulgarian soccer. bettors will find most anything to bet on. what we also think is that, you

know, betting will become more social, more like prop bets. you can bet on entertainment, you can bet on, you know, there's really anything that you can make a market for, you can bet on. we are obviously very focused on betting on sports and that's what our hope is, that prime time sports come back and we will be able to bet on those. liz: right now, rivals draftking and fanduel, who are not rivals at this very moment but they advertise on your site. is that going to continue once you have a competitive betting app? >> no. so you know, dave portnoy and barstool sports has worked with fanduel and draftkings, we worked with fanduel pretty exclusively last season so we helped build their data bases, helped build their brand. now we will go do it for ourselves and we will tap into the 15-year history barstool sports has with its fan base. now we have a product for them and now we have a partner that gives them a place to go. that's really just the

beginning. so we definitely will not be taking their advertising and will be competing with them on theirs. liz: huh. i love it. i think it's great and interesting stuff. listen, it's great to have you. thank you so much for joining us. erika nardini, the grownup at barstool sports. >> thank you, liz. liz: great to see you. does she have the best job? how did she get that? this, you've got to hear. i've got the entire behind the scenes, untold story of erika nardini's climb from quitting her job in finance to leaping into the wild waters of marketing. my new podcast reveals how taking a major pay cut paid off in the long term, leading her to be the top of the country's fastest growing lifestyle brand. download it on spotify, apple, google, fox news podcasts, anywhere you get your podcasts. "the claman countdown" will be right back. look at the dow.

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liz: you can call this a travel ban trifecta. delta airlines joining competitors united and american in warning passengers they could be banned from future travel if they refused to wear masks on the carrier's air planes. the new policy outlined in an internal memo today by the ceo ed bastian. this as a new survey finds most passengers will need another about seven and a half months before they feel safe to fly again, to go on a commercial jet. travelers are still feeling spooked. they are trading the bahamas for the back country. the company already grabbing that business is sport utility vehicle leader polaris. the ceo and chairman scott wine dealing with a problem most ceos would love to have, too much

demand. scott, what's your order book looking like right now? >> you know, liz, we have our dealers, they still have some inventory and our retail sales are incredibly strong through june but certainly, we've got a backlog that will take us most of the rest of the year to try to dig out of. but i'm really proud of the way our team has worked through the supply chain challenges and kept our plants up and running and we are running almost at full capacity to try to be able to deliver the products that our customers and dealers want. liz: well, are you hiring? can you articulate how you are managing to fill the demand at least as best you can? >> you know, we have been very fortunate, our work force has come back to work, i know there's a problem with the $600 additional in some places but we have not had that issue. our employees are back to work, working hard. we are covering with overtime as much as we can. we are not sure how long this demand spike will last but interestingly, it's mostly new customers coming in. it's not our traditional power sports customer.

it's new people into the industry, if they don't have soccer games or little league baseball to go to, they are finding the outdoors is a great place to take their family. there's no need for a mask when you have a helmet on. we encourage people to come out and enjoy. liz: i'll tell you, these atvs go anywhere. they can really explore the so-called back country. i was looking at some of your video where you are able, you know, people going through these old historic tunnels and just kind of exploring without having to take a flight to go boil on the beach, you know. i just wonder what are you hearing from your clients right now, or potential buyers? >> you know, what we are hearing is that really, it's with their family, they do want to make these vacations or outdoor weekend trips where they can go exploring. last year when we rebranded and took the think outside tag line, we are no idea how gratuitous it would be. that's exactly why we launched

polaris adventures. we have more than 140 locations with almost 100 of those open now. we had record number of people go out last week and use those to be able to try a vehicle for a day or a weekend, when you don't want to necessarily buy. certainly our dealers are saying they are just getting a lot of families in that want to experience the outdoors on our vehicles. liz: you have got a defense arm that not a lot of people know about, and i was fascinated by this. in fact, you know, you can show how many vets you hire, then i love this video where you can actually, just to show you folks, how tough these things are. we can see them being pushed out of an airplane and they have obviously parachutes attached to them, but they are pushed out of the plane, they go falling down somewhere in the desert, i think this started 9/11 or post-9/11, and they bounce and then they just roll them over and they are

going, they are driving. after having been pushed out of a plane. tell me about your defense division. >> you know, we are proud to serve the american war fighter and actually, services all over the world. really, we just won a new contract for the razor alpha which is going to be the highest performing vehicle we have ever built for our customer and they are instrumental in helping us design a vehicle to do what they need and being able to go into the back of a helicopter and aircraft to be airlifted is one of the requirements that we designed for. you know, we take, as the world's largest power sports oem, we are able to take what we learned serving our commercial customers and bring it to the military, then we design for the military and bring that back to our commercial customers. so it's a really -- it's a small part of our business but a very important part of what we do. liz: scott, before we go, got to ask you, what is the cheapest or least expensive, cheap has a negative connotation, what's the

least expensive utility or the ones that are out there for adventure vehicle that you guys sell? how much? >> i think we make youth vehicle that you can get for under $5,000 but if you just want a good all terrain vehicle, our sportsman 400 is probably right in that $6,000 mark. you know, we've got great value all across the spectrum. if you want to spend, you know, close to $35,000, we can give you a top of the line razor ranger as well. liz: between you and our trader, sarge, my bank account is completely empty. buy this stock. buy polaris. good to see you. thank you so much. good luck to you and the team. thank you so much. >> thank you. liz: that stock has certainly been a great performer, too. ticker symbol pii. the markets are gaining real steam in these final minutes of trade after kind of a red experience in the middle of the session. but charles handed me nothing. now i have added 215 points to the dow at the moment. will we close this high?

nasdaq up 73. the s&p up 24. we'll be right back. don't go away. ♪ limu emu & doug

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how i think it could get in. what we're talking about here is simply this, liz, a safe harbor to allow banks to essentially bank the pot business and to lend the money. right now, under federal law, pot is still a narcotic so you can't really lend if you are a federally regulated institution like a bank. what we understand is that the aba is trying to work primarily with republicans, mike crapo, mitch mcconnell, senior members of the banking committee, obviously the senate majority leader, to try to get -- sneak this thing in there as part of the stimulus package, not to do it as separate legislation. liz: not doing a good job. you got the story, charlie. charlie: what's that? liz: they're not doing a very good job of sneaking. you got the story. charlie: well, ni know. i know. i talk to loifbbyists. they tell me this thing. if they can get the republicans on board with this and by the way, right now, the rubber is not meeting the road on the negotiations.

people are just feeling each other out. there is a general sense of what might be in this targeted industries may get stimulus money. unemployment extension, states and cities that are banged up because of the coronavirus shutdown, those are some of the big pictures, maybe liability protection to help businesses so they don't get sued for bringing people back to work and who may get covid. so there's a lot of jockeying for position. the rubber will meet the road in the next week or so. looks like the number is like $1 trillion but still, you know, [ inaudible ]. this pot stuff to me is very interesting. you know, despite the fact that states around the country have, you know, allowed the use of medical marijuana, sometimes even the use of marijuana, it's still by federal law a narcotic. if it's a narcotic, then banks can't lend to the pot companies. if the banks can't lend to the pot companies, they can't grow.

we know the american banking association is behind this. they want the aba to push the republicans to -- liz: too much weed discussion. cannabis. you say cannabis, people start listening. all the cannabis stocks that we showed, multiple ones are in the red right now. boy, their time at least about a year ago, they were all charging ahead. we are watching that story. we will try and reestablish with charlie. i'm just saying that because we're -- we're done. there you go. we have some cannabis names there. well off their highs of the past couple years. the dow is charging higher and is well beyond the original highs when we went into this hour. we had been up about 143 for the high of the session. now we are at 253. i want to take a quick look at some of the major financials.

all of them are up right now. this ahead of the bank stress test results that will be released after the bell today. our "countdown" closer has all the details you need to be watching and he knows, he was a former federal reserve economist under paul volcker. "the claman countdown" will be right back. (vo) at audi, we design cars that exhilarate with versatility, whether on the track, or the everyday drive. today, that philosophy extends to how we connect with you. we call it, audi at your door. whether a remote test drive, shopping, trade-in, or even service pickup, audi at your door can do this and more at participating dealers. the premium audi dealership experience, on your terms.

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it's that simple. because at carvana, your car happiness is what makes us happy. ♪. liz: we should look at amazon's stock. is is up on the news just came out in the last hour that amazon has won the bid to the naming rights of the new nhl and wnba arena that's being built right now in seattle and guess what? they will name it the climate pledge arena. that is really snappy. climate pledge arena. investors, let's get to nike i think they sponsor the wnba outfits. nike ahead of earnings out after the bell.

cheryl casone what we need to be watching ahead of those earnings? reporter: we're waiting on nike's fourth quarter earnings numbers due out in just a few moments. expectations for earnings per share, seven cents. revenue expected 7.32 billion. the big story will be china sales as well as online sales numbers for the time during the pandemic. while it is expected nike will take a hit from the shutdowns, this quarter analysts say it is the commentary. several say nike has a bright future because of the strong stand on social justice reform as well as its e-commerce initiative. susquehanna called nike the hinge of the hill. the guidance he is banking we'll get good news on guidance. ubs analyst jay soles says the nike's best days are ahead. he raised hits target to $122 per share. one caveat. foot lockers were closed during the pandemic. and nike stores.

it will not be a rosy past but a bright future. we love the nike doing the peloton app in the apartment on most days. liz: you know me. cheryl and i did many a triathlon together. thanks, cheryl very much. reporter: you bet. liz: in 30 minutes the world will get a temperature check of the u.s. financial system when the federal reserve releases the bank stress tests, 34 banks each with one more 100 billion in total assets are under the microscope. they're put to the stress tests worst case scenarios they hold up. we're joined by larry cantor a former federal reserve economist who worked under paul volcker who is now with atlas merchant capital. who will pass or who will fail? >> we'll not going to know, fed. this time the around the fed will not release results for

individual banks. there will not be any pass or fail grades. the last thing we need here to stoke concerns about bank capital at a time when almost all these government programs are running through the banks like ppp and all the stuff the fed is doing. they are going to be very concerned with capital positions at a time when banks are facing a lot of pressure in terms of default rates forbearance and credit lines, companies who may not make it. many of the big banks as you know have already altered share buybacks and in the wake of the stress tesss it wouldn't be surprising to see the banks suspend dividends but the banks are not allowed to announce any changes to pay outs until monday at the earliest. it is possible the fed may, because they don't want to encourage scrutiny of individual banks. that is the last thing, given how hard the economy is going to

be hit. they may ask big number of banks to suspend dividend because they need the capital right now, to support all that they're doing. they want banks to extend credit. so i wouldn't be -- liz: larry we seen a lot of companies suspend dividends. many banks have not. that is what i wonder about? anyone in particular who might be sort of susceptible to the first cutting of the dividend? big names i'm talking about? >> the fed will be quiet what they do. you don't want to add a financial crisis on top of the banks. one of the things the banks are doing, companies are desperate for cash reserves, especially ones rehurting and have credit lines with banks they want them to keep going.

so i don't think, liz, you're going to hear individual names from the fed. [closing bell rings] liz: we got to run. good to see you, thank you, larry cantor. look at the dow higher by 320 points. that will do it for the "claman countdown." it's a big win for the bulls. connell: on the ground in a crucial swing state. president trump this hour is in wisconsin. he is about to take a tour of a local shipyard to deliver remarks. we'll keep an eye on that. the other thing stocks closing right at the highs of the session, really strong move into the close. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." major averages gaining steam at the lows closing bell. looking to recover some of yesterday's massive losses. fox business team coverage. jackie deangelis in the newsroom. we'll start with blake burman at white house. reporter: expecting to see president trump in about an hour or so, at least within