that's a company that could get taken out. there's other names within technology out there. they are out there. don't bet the ranch on them. charles: all right. all right. we won't bet the ranch. we always bet on you. david, thank you very much. folks, we grudgingly have come up. cheryl casone in for liz claman. you have a little momentum going into the last hour of trading. the opposite of the word is a little. cheryl: i still want to talk to you about peloton. you are not off the hook yet, okay? we will discuss tomorrow. charles: okay. good. you got it. cheryl: all right. charles, thank you very much. well, here we go. the covid quarter is finally coming to a close this hour as markets do see green across the board on the final trading day of june and the final trading day of the second quarter. all we can say is good-bye. the dow is higher. we are up by 45 points right now. the nasdaq is up by 144. s&p is up by 30. you've got the dow and the s&p

500 on pace for their biggest quarterly gains in nearly 20 years, and the nasdaq's about to have its best quarter since 2001. we will break down all the numbers for you. while this quarter was rosy, the future might not be so bright. if you ask federal reserve chairman jerome powell, the fed head warning of an extraordinarily uncertain economic picture due to the coronavirus. treasury secretary stephen mnuchin just wrapped up testimony on capitol hill, long day for them. we will go to d.c. for all the fireworks that happened in that room. meanwhile, we are just nine hours away from the deadline for small businesses to tap into what is left of the paycheck protection program. it still has more than $100 billion available. the ceo of valley national bank is here to tell us how he thought the program worked and what should be done with all that excess cash and should there be more stimulus. then there's this.

the work/life balance turned upside down during the coronavirus pandemic but as states reopen, one company is eager to get back to its play for all idea for the whole family. we will introduce you to that during the show. kefi. i'm cheryl casone in for liz claman. let's start "the claman countdown." cheryl: we begin with breaking news. the united states has now formally designated chinese telecom giant huawei and zte as national security threats, saying they have close ties to china's military. the federal communications commission move means that u.s. firms cannot tap a government fund to buy equipment from these two companies. want to take a look at the chip makers right now.

xylinx spiked, actually up about 6.5% right now. micron, that stock is up 4.25%. huawei again, large customer of xilinx and micron so they are sensitive to the news we just got today. also want to take a look at tesla, on pace for a new record close. if we hit above $1,025. nice to see and we will see it possibly. the ceo elon musk e-mailed employees yesterday, egging them on to produce more cars before the second quarter deadline which as said, is today. he said breaking even is looking super tight. breaking even would be a good scenario for the electric vehicle maker as wall street is expecting a second quarter loss. we will see if he are really ramp things up on the production side. tesla may hit a new record close. workhorse of 17 and change, that is the band maker, we talked about them yesterday, they are

actually galloping towards a record tenth straight gain after they secured $70 million in financing. want to take a look at lululemon, sitting pretty as they look to crack deeper into home fitness. i was just talking to charles about peloton. i am serious about that company. i am going to talk to him about that tomorrow. the athletic apparel maker lululemon will buy the fitness video startup mirror, i don't know if you ever heard of it, it's the mirror in your house, for $500 million. the mirror's revenues are fueled via sales of it's -- it looks like a mirror but it's actually a class inside of a mirror. you pay a monthly subscription similar to peloton. anyway, lululemon which may be the buyer of the mirror. as you can see, doesn't it look cool? so fun. it's up more than 5% right now. all right. turbulence for the airlines right now after the european union banned u.s. travelers from entering the eu when it reopens its borders tomorrow, then domestic domestically, new york ended up adding eight more states to its quarantine list.

that includes now california. taking a look at delta, american, united, even though the airlines are mostly saying they will just open up the planes and if you're not comfortable getting into a middle seat, sorry. delta, american, united all in the red. they will open up their air krav craft to more passengers. that announcement came yesterday. the nation's top two money men testifying on capitol hill today. fed chair jerome powell and treasury secretary steven mnuchin came before the house financial services committee to give an update on the state of the economy. long day for both men. powell warned that any economic rebound is not likely until the pandemic is contained. mnuchin revealed a tentative timeline for additional pandemic stimulus and the street was listening for that. edward lawrence watched the hearing end-to-end, again a long day, but you have the highlights for us. reporter: you know, you are watching the markets going between red and green, red and green, right on that line there.

they were watching this hearing closely. there's a little bit of actually an about-face from chairman powell. the federal reserve chairman last time he was on capitol hill painted a more uncertain future. the tone of this address this time was a little lighter, saying he does see or told the financial services committee that a swift and forceful action by the federal reserve and congress limited long-term economic damage. he says that he sees an economy that's bouncing back and the federal reserve is committed to using all their tools until we are on the road to recovery. listen. >> what we have been trying to do is create an accommodative financial conditions and supportive financial conditions so that when the economy reopens, remember, we sort of deliberately closed down so that when the company reopens, that expansion can be vigorous and strong, and it's just beginning now. so our support for that is part of what's driving the job growth that you saw in may.

reporter: treasury secretary steven mnuchin predicting more of a v bounce-back with this economy, saying he's committed to working with congress on the next round of aid, on the cares 4. mnuchin says those negotiations will start in july. he said it will be more targeted to businesses for rehiring workers here. i can tell you within the last hour, senate majority leader mitch mcconnell said if there is a phase four, if it can be agreed to, it will be passed by august 1st. back to you. cheryl: yeah, well, they won't be around in august so they need to do something in july. good point. edward lawrence, thank you very much. well, big news to tell you right now. tomorrow, president trump is going to sit down for an interview with our very own blake burman. you can see the entire interview right here at 3:00 p.m. eastern time on "the claman countdown." you do not want to miss that interview. president trump and blake burman. well, with the dow and s&p 500 on pace for their best quarter since the fourth quarter of 1998, i want to take a quick

look at some of the big winners over the last three months. i know it's hard to celebrate because of what we have been through over the last three months but take a look at apple, dell inc. and home depot. the first, apple, up more than 40%. dow inc. saw gains of 37% and home depot got a boost, jumping 33% for the quarter. we heard a lot of news when they came out with their earnings previously. only three dow stocks are still in the red for the quarter. merck and pfizer, down less than 1%. then you've got walgreens boots, that's actually the big drag, down 8% which is a surprise considering it really didn't shut down. with the fear of a second wave and a presidential election still facing the markets over the coming months, what can investors expect for the second half of an already very turbulent exhausting year? i want to bring in john corpina and phil flynn. john, i've got to say, the news never stops, obviously.

that's why everybody is watching fox business because you have the adp report tomorrow. thursday you have initial claims, you got the jobs report and now we are talking about another round of stimulus. where do we go? >> right. couple that all together and that gets us to the volatility that we have seen in the market. let's kind of back up a little bit. 2019, top headline was always u.s./china relations, tariffs. as time has moved on, clearly we have been focusing on covid and the effect it's had on our economy and the market. we are going to continue to see that. back to what you said before, best quarter since 1998. historically over time, we have seen when we have seen productive quarters of 50% returns or higher, the following quarters have been up 10%. two quarters now have been up 13%. i think if you see the pattern that's there, this market is going to move higher but now we have to throw in two things this market has never seen before. swaef second wave of covid, i don't think we have seen a second wave yet. we still have lingering effects of the first phase. then what we are going to get

through the presidential election. whatever poll you want to look at, it's neck and neck at this point right now. i don't think we have ever experienced the type of headlines we are going to see coupled with market activity and volatility that we have been experiencing. i think investors really have been very careful because the markets are going to move -- the headlines are going to move the markets very very rapidly -- cheryl: you know what, let me pick up on something, though. the latest fox news poll had joe biden well ahead of president trump, by a very large margin. our analysts, people like yourself, kind of looking at the possibility of a joe biden presidency and what that would mean for the markets, for taxes, for regulation. >> cheryl, i think we all had this all wrong at the last presidential election and if you look at the polls then, what we thought the outcome was going to be, the complete opposite happened. i think we learned a very interesting lesson from trying to predict presidential polls and the outcomes. i think that's going to stick in everybody's back of their mind as we get towards november. cheryl: okay. phil flynn, let's go to you.

he picked up on something i want to take to you and that is the issue of the coronavirus and a possible second wave. we are still looking at, this is what dr. fauci said, this is the first wave that we are seeing emerging in florida, texas, arkansas, alabama. forget the second wave -- well, we can't forget the second wave because that will coincide with flu season. that's an economic story. a lot of folks are worried about can the economy withstand a second wave of coronavirus and flu seasons together? >> it will be tough, no doubt about it. it was interesting to hear dr. fauci because he did seem to be genuinely concerned about where this is going. i think he sort of slowed the market momentum. we had a really good day going in the stock market, we still have a good day, but there is that concern in the market. but a lot of what we are hearing right now is still speculation. that's what's happening in the market. but if you look at what's happening on the ground when you look at these companies, what you are hearing from the federal

reserve today, the actual numbers are better than anybody had anticipated. a lot of people looked at the negative things that jerome powell said today about the slowdown in the economy, the challenges ahead, which is all true, but what he also said that i thought was pretty telling was that, you know, we are pretty amazed that the economy has come back as strong as it has already with what we have done. consumer confidence coming back up very strong. consumer spending, spending is high. so i guess what he's saying is that, you know, we're still concerned about the future but we're amazed at how well we have done. in other words, i think the market is signaling that we can be confident about the second half of the year. we can believe it and yeah, we are going to have these challenges but it looks like the economy's going to look good. will we have setbacks and volatility, absolutely, but at the same time, you can't focus all on the negative. you know, like jon said, before it was all about china, china,

stock market going up and down. now it's all covid, will we get a second wave. that can all change and we might be focusing on something else later. cheryl: my mom always said hope for the best, expect the worst. i will say, jon, you do win. the week's not over yet but you do win so far for most patriotic live shot on television. >> thank you very much. cheryl: it's awesome. great job. thank you very much, jon, phil. hopefully i will see you both before the weekend. let's take a look at the big board right now because again, this is the last day of the covid quarter, the second quarter. lot of data going to be coming out about this quarter in the next few weeks. for now, we've got some good numbers. we lost a little steam but we have more time. also this. the shoe is certainly fitting for crocs this hour. luke capital upgraded the footwear giant to a buy on its

brand momentum. crocs weathering the storm but imagine if you are a brand new business depending on people going out, living their lives amid a global health crisis. well, coming up next, the lifestyle startup kefi on its covid-19 survival guide and its new plan of attack for round two of the pandemic. "the claman countdown" coming right back. in neighborhoods across the country, you'll see gratitude. communities showing support in their own way. our way is massmutual healthbridge, a free life insurance program just for healthcare workers fighting covid-19. ♪ so to all the healthcare workers on the front lines, thank you. ♪

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we are now having 40 plus thousand new cases a day. i wouldn't be surprised if we go up to 100,000 a day if this does not turn around so i am very concerned. cheryl: while parents anxiously await for schools to open this fall, or not, the nation's top infectious disease expert, dr. anthony fauci, in a senate hearing today said the school openings this year are going to be left up to school administrators in consultation with state and local health officials and while that hot potato gets tossed around, atlanta-based play space kefi is open for business at the tech-enabled care center. it targets millenial parents and kids getting to play in the various rooms while parents

relax at the coffee bar. joining us is the ceo drew panayiotou. you opened your business just before the pandemic kicked in, correct? your timing was a little tough. >> it was odd timing but actually, it was great because we went into this thing, i was inspired by my now 6-year-old boy to build a place that was incredibly safe and clean. we call it clean safe fun because i was not thrilled with bouncy houses and ball pits. so when we built kefi, we built it to be the place for kids. we have stations that automatically disinfect kids' hai hands, we have mats that take off dirt from shoes, ozone cleaning for toys that clean toys after every use. we went through this pandemic-ready, not knowing,

then coming out of it, we have even made it more secure, testing all our employees, retesting them, having no more than ten kids at a time and doing guided play so we have a 28,000 square foot facility where we can space kids. to my utter joy, 3-year-olds are wearing masks. it actually shows that kids can be responsible. cheryl: and they've got good parents as well that can convince them. what about the air circulation inside? i think that a lot of businesses, i know they are struggling as they start the reopening process about the air circulation for indoor, whether it's dining, whether it's play spaces like yourself. did you address that at all? >> yeah. there are uv machines that clean air and again, we have a wide open space where we designed it where there's a ton of circulation and we have fans so we also have garage doors that we open up as much as we can to

keep air flow flowing through the play space. cheryl: what are the parents saying to you about the future? obviously a lot of these parents and their kids were cooped up together for a long time. do you think that you will actually see more and more applications for membership? what has the customer feedback been? >> it's been great. we have been literally limiting the number of memberships. we have had companies approach us because we have full-on co-working as an option. before we started, 88% of parents, this is a 2,000 person study done in the u.s. and canada, said that parenting was overwhelming. that was pre-covid. if we ask that question now, we probably have 100% of parents saying it's overwhelming. you know, the ability for parents to continue the development of their children, we really focus on kids 2 to 7, 2 to 8. 2 to 7 is the most important time for development, brain development for a child. you just can't take a year off. i think a lot of our parents

recognize that. you just can't say hey, we will come back to brain development for our kids a year and a half from now when the pandemic is over. you just can't wait it out. you have to be smart and you have to be intelligent in how you approach this and being entrepreneurial, we have been great entrepreneurs, right. we have the ability to solve this stuff with technology like you were talking about. there's ways to make the air cleaner. there's ways to schedule appointments for kids to be in very small groups. there are systems and things that we can use so as entrepreneurs we should use them and innovate. cheryl: i heard senators today talking about the fact there's an emotional components that will be more negative if kids can't go back to school in the fall and that has to be definitely considered as we try to reopen the economy and schools. real quick before i let you go, how much is the membership a month? >> we actually raised pricing because we had to increase costs

so it's $150 going to $250. we are trying to figure out how to manage demand. it's a good problem. we have had parents with autistic kids who really were the first to come in because their kids need socialization, they need to see other kids. we are trying to figure out how to do it the right way so we give something back and don't charge families that really need it as much. so we are trying to figure out how to be a good social citizen. cheryl: it's great. it's a great business model, drew. thank you very much for being with us. we appreciate it. >> thank you. appreciate the time. cheryl: yeah. we've got the dow up 76. we got a lot more coming up. we will take a quick break. two casino giants feeling the covid heat. unions repping thousands of c l culinary workers, they are suing over [ inaudible ] claiming the companies haven't done enough to protect their employees at those properties. from the virus, obviously.

this as one major hotel chain is taking the gamble on a touchless opening despite second wave fears. jeff flock in chicago, coming up next.

cheryl: 15 states such as arizona, florida, new jersey and texas, are pausing their reopening plans. is now the best time to open a brand new hotel? well, tomorrow, the nobu hotel backed by chef nobu and robert diniro will open its doors in chicago. it has 115 guest rooms, an indoor pool, fitness center and a lot more. but will anybody be there to use these luxury amenities? jeff flock is in chicago. you spoke with the managers there. are they worried about tomorrow? reporter: -- again and no, they are not. i'll tell you, we are getting, by the way, a behind-the-scenes

look exclusivesly at the hotel s they put the finishing touches on it. this is the restaurant, part of the hotel. those are approximating falling leaves from the sky. michael chen, you already have been the beneficiary of bookings falling tr tfrom the sky. i understand you have a wedding booked this weekend and a business convention potentially booking the hotel. that's an interesting trend. >> we were talking this morning about safety precautions for the travelers getting the consumer confidence and the thought process has been able to book out the entire hotel, being a boutique style hotel, is a great option. we did have an e-mail from a viewer saying i would love to get some more information about staying at the hotel and bringing some groups with us. reporter: bookings are up across, as you know, across the industry. not to the level that they were certainly in 2019. in fact, that may be awhile. but from 22% booking to 44%

which is a big jump. the hotel stocks, by the way, they went up big when it looked like we were past the worst of it. and now kind of have dropped down a little bit more, marriott, hg and hilton. i want to ask you, we hear more about other states in trouble. i know you managed nobu in miami as well. concerns going forward. i mean, who opens a hotel in the middle of a pandemic? >> i think the biggest idea is just being cautious right now. i know in various states, they are closing and scaling back from when they opened. a lot of it is to calm the crowds down for the holiday weekend. it's a very busy demand weekend. it's more to protect the growth spurt. we see a little spike right now and we want to make sure we are practicing safe protocols. reporter: you do a lot of safety sanitizing. people need to feel secure here. i will leave you with one quote from an analyst. he says, i quote him now, we

expect it to take nearly three years for the number of room nights to rise to the levels that they were in 2019. do you buy that? you think that's the case? >> i think that's the case because a lot of bigger hotels rely on groups. that's a big part to get the confidence of the group numbers back. reporter: this is a smaller hotel. how many rooms? >> 115. reporter: 115 rooms, as you pointed out. that's a little easier to manage and to book as opposed to mega-hotels. i don't know if they ever come back to profitability. cheryl: they do have the nobu name going for them which will make a difference. reporter: that's true. good food. cheryl: jeff flock, thank you very much. live for us out of chicago. we will take a look at the markets right now. we actually have, we are looking a little better on the dow. just went above 100 points to the upside. nasdaq up 156. s&p up 56. we are ending the covid quarter but what the dow gained, 3600

points and change. highs of the session, you are looking at. we will get to more numbers in a few seconds here. want to talk about some of the hot spots because a lot of folks are banking on covid hot spots. you have locations in new york, new jersey, florida that have been really affected. valley national bank ceo ira robbins is telling us which businesses the government needs to help the most if there is a stimulus 4.0. he's coming up. and be sure to tune in for the next fox business virtual town hall. neil cavuto will host america together open house on thursday, july 9th. barbara corcoran is his special guest. she's amazing, by the way. you can ask him a question, message fox business on facebook or instagram. e-mail us at investedinyou@foxbusiness.com. we'll be right back. 300 miles an hour, thats where i feel normal. having an annuity tells me my retirement is protected. protected lifetime income from an annuity can help your

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cheryl: still thinking about applying for the paycheck protection program? well, deadline is today. borrowers have until midnight tonight to apply. since they launched in early april, the sba has approved more than $518 billion in loans and instead of being depleted, more than $174 billion still remains unclaimed. no word yet on whether the deadline will be extended, if money is still left on the table, what they will do with that money although there's been discussion about it. more than 5,000 banks have given out funds including top lenders like jpmorgan chase, bank of ameri america. smaller regional banks also lending billions. they were a key part of the whole story. let's bring in one of them. president and ceo of valley national bank, ira robbins. ira, thank you for being here. >> thank you so much for having me. cheryl: let's talk about this. because the big story here is all of the unclaimed money. were you surprised that this round of ppp was not completely cleared out?

>> absolutely. when they first announced the second phase, our anticipation was that it would be gone within five to seven days based on the demand that we had seen in the prior round. that said, i think a lot of the uncertainty surrounding what some of the provisions of the program were led to some concern regarding borrowers potentially accessing the funds. cheryl: one of the issues i think about in ppp in particular is restaurants. even as some of the reopenings are happening, now are stalled in some states, these restaurants can only operate at say 50% capacity, outdoor dining has been an option, but if they extended the program, do you think they should target it to specific types of businesses and if so, which types of businesses would you recommend? >> well, let's start with they should definitely extend the program without question. that said, this recession has hit many industries unlike previous recessions before. at valley, only 13% of the

applicants for our ppp were either in the hotel or restaurant industry. recognizing that this was impacting every single small business across the entire spectrum of industry. so for us, i do believe that it should be extended. it should be extended with some of the provisions that were recently adopted by congress as opposed to what the original restrictions were. the time window initially to address as to how long you were able to keep your employees for was just too short. it wasn't consistent with what many reopening plans were for some of the geographies we operated in. i think as we move forward and look to apply additional federal stimulus, we should absolutely go and apply more ppp funds to many of these small businesses but give them the flexibility we have adopted where it be 24 weeks or change some of the payroll restrictions as to what was initially put forth. cheryl: couple of questions. first i want to ask you how the program went as far as was it smooth to get the money out to these businesses. i know a lot of business owners had a tough time with it. senator marco rubio has already kind of floated the idea that maybe you take what's left of

the program, $25 billion goes to small small businesses, those that have employees of 10 or less. i want to get your take on that. then also, is there anything that they should change as far as how the federal government and that program works with you, the bank, to get the money out? if they decide to extend the program. >> so let me say right off the bat i applaud the federal government for being so proactive right off the bat. one of the challenges has been for us in working with the federal government is the rules continuously change. the first forgiveness application that was sent to us was 11 pages. now it's down to three pages. and for us to put forth programs and systems to make it easy for our users to apply for forgiveness has been a real challenge as the program constantly changes. one ask i would have is that we just leave everything as is. the more complications, the more variables that we apply to it, the more uncertainty, just makes it more challenging for us to connect with our customers and our customers just want to know there is certainty there, give them a little more flexibility to assign and align the payment forgiveness with the reopenings

that happen in each individual geography, in new york and new jersey, for instance, an eight-week time window that was initially established, they weren't even allowed to open many of these restaurants. right now, we have still created hindrances for these businesses to really succeed. we need to end the program and apply the 24 weeks fully for all these businesses. cheryl: to your point, you operate in new york, new jersey, florida. these are the hot spots and these are the businesses that really need it. ira, thank you for being with us. we certainly appreciate it. >> thanks so much for having me today. cheryl: all right. well, let's take a look at the board. last day of the quarter. good-bye, second quarter. it's been something else, hasn't it? but you know what? dow has gained almost 17% for the quarter. s&p gained 18% in this quarter. nasdaq, 28%. there's that. i'm leaving you with some good stuff. dow actually hitting session highs, 146 points to the upside right now. it is the c.c. effect. i will take it. also, a lot more coming up before the bell rings.

the latest twist in the boeing 737 max jet stock and why has the aerospace giant dragging on the dow despite the green arrows? that and charlie breaks it coming up next on "the claman countdown." just over a year ago, 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. ♪

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cheryl: boeing dropped as max cancellations pile up. hong kong based boc aviation canceling orders for 30 of the 737 max jets. these were the planes grounded after two deadly crashes. the max has been grounded now for 15 months but it's trying to get back in the skies with safety updates. they are working with the faa. boc says it will continue to be a customer of the 737 max on a

purchase and lease-back basis and has not in any way lost confidence in the plane. yesterday, norwegian air canceled orders for 92 of the 737 max jets and five widebody 787 dreamliners along with all their respective service agreements which you can take as more of a maybe pandemic story, not necessarily a boeing story. but boeing is the biggest drag on the dow right now. the stock is down almost 5.5%. also making clans ma[ inaud mars incorporated, saying it will halt all advertising on facebook and snap for july, saying they will work on clear actions for change related to any speech and misformation. charlie gasparino has been following this story closely. you reported on pepsico being one of the latest to pull the ads. what are you hearing from them now? charlie: they were -- they didn't want to confirm or deny it at first but notice w we hav

statement from pepsico confirming fox business's report that they are part of the facebook ad boycott. they are going to be boycotting this on a temporary basis as we said in july and august. it is a global boycott from what we understand, from what they're saying now, and it's interesting, because i can't understand why they just didn't want to say they were doing this. my guess is they want to work somewhat behind the scenes with mark zuckerberg, ceo of facebook, to try to reach some accommodation. be that as it may, they are now confirming they are part of the facebook ad boycott which has got a lot of conservatives up in arms because listen, it's one thing to be [ inaudible ]. a lot of conservative groups believe facebook is under pressure from liberal advocacy groups, essentially to ban political speech. a lot of this started when donald trump tweeted amid the protests and put on facebook when the looting starts, the shooting starts.

facebook labeled that as incendiary comment that violates its rules -- excuse me, twitter labeled that. facebook did not take it down at all. so that's kind of what started this. that's why a lot of conservatives are up at arms. be that as it may, pepsi does have a statement we have received. they say while pepsico staunchly supports free speech, we condemn violence, bigotry and hatred in all its forms and do not [ inaudible ] anywhere near this kind of [ inaudible ]. that is why we have decided to temporarily pause our paid advertising on social media platforms temporarily. it's going to run july [ inaudible ]. one other thing i want to point out, we reported yesterday that wall street is starting to get worried about a biden economic agenda of high taxes on corporations, individuals, higher regulations that he's going to undo much of what president trump has done economically which did work, by the way, before the pandemic shut downs. last night, he gave a speech or

a talk with investors -- excuse me, with contributors and he confirmed much of our reporting. i want to say this. again, wall street brokerages are planning to outline this soon. they usually wait until september to say here's what both candidates are proposing, here's how it's going to impact, we see it impacting markets. they are planning to expedite this, their analysis of the various candidates' economic policies, particularly with an eye to biden since he's ahead in the polls right now. if you got a financial adviser out there and a lot of our viewers do, ask him, prod him on what this sort of stuff will mean, higher taxes, capital gains, corporations, more regulations, stopping the fannie and freddie reform effort that mark calabria is doing, increasing regulation from a consumer financial protection board which he's definitely going to do, all this, you need to talk to your financial adviser. they will have answers from what i understand. they are preparing it now. cheryl: you have to prepare now. got the plan.

you're right, especially when it comes to taxes. that can be a major shift for a lot of our viewers. great point. charlie, thank you very much. great reporting on pepsico, by the way. we have the dow up, session highs again. cc effect, i don't know. i'm in for liz. i'm just going to say it's me. dow up 233. we are at 25,822. we are closing out the end of the second quarter, the covid quarter. going to have some numbers on the other side of the break to show you how well the quarter went. coming up next as well, we will talk about fed ex. they are about to reveal how shipping got hit in the coronavirus quarter. full preview of the earnings after the bell, straight ahead on "the claman countdown." (vo) since our beginning, our business has been people. and their financial well-being. it's evident in good times, with decisions focused on the long-term. and crucial when circumstances become difficult. that continued emphasis on people - our advisors, associates, clients and communities

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♪. cheryl: here we go. we have about five minutes to go. stocks wrapping up the end of the quarter with a rally. we're at session highs. now the dow is just about to hit 300 to the upside.

look at that 299 and change. as far as the dow up 299, s&p up 300. look at second quarter. it is pretty phenomenal what the markets have done, y'all. the dow is up 16.78%, actually more as we go into these numbers for the quarter. the s&p gained more than 18%. the nasdaq gained more than 28%. month to it today the nasdaq is up 4%. this is the best quarter for the nasdaq since the fourth quarter of 2001, folks, 19 years ago. these are the message bases we're talking about here. again if you look at the dow, up 270, this could be the best quarter in 33 years. we got 3 1/2 minutes. let's try not to mess it up. let's look at fedex real quick before we hit the bell. we're ten minutes away from their fiscal fourth quarter earnings report. fedex is up almost 4%. big question what investors can

expect. what about the quarter? let's go to lauren simonetti. she has the answers. lauren: good afternoon, cheryl, fedex's report for the fiscal fourth quarter, may be example of doing more and making less. the residential businesses is booming but that is the less profitable part of the business. it slapped surcharges on some shipments to handle unprecedented volume during the pandemic. the most profitable part of the business is commercial. they're down sharply as the businesses are closed. air cargo capacity is strained. medical supplies to site the virus is given priority while passenger space is limited. fedex is spending money to keep the workers safe. look at this, earnings $1.62 in the quarter on revenue of $16.54 billion. that is about one billion dollars less than this time last year.

cheryl, analysts are expected to hear how fedex is cutting their costs, how they're continuing to integrate europe's tnt and leveraging relationship with microsoft cloud and intelligence to challenge the big competitor, amazon. cheryl: getting their own planes in the air these days. that is big competition. their very much, lauren simonetti with fedex after the bell. markets recovered from the lows on march 23rd, we don't think they will go back there, there is rising concern about a second wave of the virus hitting the country but as the global economy continues to reopen and recover where should investors look in the second half of 2020? bring on the phone, scott colyer, scott, the second half is a big question mark. what do you say? >> well good afternoon. thanks for having me on. it looks like to us, that probably we have the trough

quarter and second quarter. but i think the opening is going, maybe a little bumpy but, we're certainly seeing a lot of industry and manufacturing open here in the united states. we think probably it is a value play into the third quarter. that is what we would normally expect coming out of a recession which we started in february. and i think, you know, we'll continue to see kind of the most conflicted, the have-nots, maybe, catching a bid here and there as their industries begin to come back to life. you know, obviously that is not a prediction on travel and leisure. i think some, some areas will be -- cheryl: i've only got a minute to go, scott here. you're saying you're looking to get away from consumer staples, utilities antec. that surprises me about tech

because where the nasdaq has been the last three months. >> right. the only thing i can say there, that is a relativity call. in other words, not that we're bearish on tech. we just think tech, the valuations are probably a bit stretched. we would rather see industries like materials, industrials, financials, believe it or not, consumer discretionary. then finally even energy. energy, believe it or not, off the bottom since march 23rd is leading the way, being up almost 60% from the bottom of march 23rd until today. cheryl: wow. certainly today we have a lot to watch in these markets. the big question of course is q3, q4. scott collier. thank you very much. big reminder for our viewers. do not miss this show tomorrow, blake burman will interview president trump. that interview will be right here 3:00 p.m. eastern time. i will give you a final check of

our markets. again the covid quarter is over. [closing bell rings] good-bye, q2, 2020. see ya. we're closing off of session highs with the dow still up 242. s&p up 49, nasdaq 191. now to "after the bell." melissa: the best quarter in decades. stocks gaining steam in the final moments of trading for the month and the quarter as we await for an update from the white house coronavirus task force this hour. i'm melissa francis. connell: i'm connell mcshane. these are some numbers. welcome to "after the bell," everybody. the major averages are up here certainly on the day and certainly for the quarter. we closed higher by 200 plus points own the day for the dow. it is the best quarter for the dow in more than 33 years. we will break it all down in some detail for you as we bring you the top stories of the day with fox business team coverage. blake burman is at the white hous