the dow has been down same amount of opening bell, off 175 points. really story continues to be big tech and nasdaq. nasdaq up again half a percent at 10485. my work is done. thank you, susan. thank you, lauren. neil cavuto. take it away. ashley: that's right. ringo is 80 today. we already know you're 119. ashley: wow. ashley: i'm trying to do the math. remember that? so, stuart, somewhere in between ashley: in between. ashley: great job as always. we're following up what is going on the last three busy hours. charlie brady says the dow is 12 plus percent away from all-time highs. the s&p 500 about 6% here.

but you have to think of where we were and even with today's selloff, it is not really affecting all sectors. in fact more than half are still up. the fact of the matter technology, we just can't seem to pause even for a nanosecond, continues to advance. we'll go over all of that, including things that could be weighing on stocks, including some extended shutdowns and restrictions everywhere from texas right now, what is going on in florida as well. then there is hope on the virus front. that of course is something that is not seen all the time here but on the vaccine, more to the point of the virus, we keep track of this thing. there are about nine premier offerings or combinations being touted by various governments or biotech concerns of that, that are promising everything from an antiagain, quickly can tell you whether you have the virus in

matter of minutes all the way up to vaccines potential curse that could be available soon as end of this year. the u.s. investing a princely sum of about $1.6 billion in novavax's offering on the belief that maybe let's get going on 100 million doses that could be ready by 2021. we'll detail you on all of that. in the meantime we're focusing what is happening with the white house right now and the president is set to talk about the constant reopening theme, namely for schools because a lot of states and municipalities they're perplexed whether it is going to happen this fall. the president sending a message out, it is important, it must happen this fall. edward lawrence following all of that. hey, edward. reporter: neil, from the white house the president and the first lady will host a national debate here at the white house later on this afternoon, moving schools, reopening schools. economic advisors here believe that opening schools will keep the economic momentum moving forward. here is the heart of the debate here, 29.1% of adults say they

had to skip work or stay home from work to use child care, to do child care according to the centers for disease control during this shutdown. in fact under the payroll protection program, 4100 child care businesses needed loans of more than $150,000 to stay afloat. some political experts say it is easy for president to win election with better economy. going back to school means spend spending on school supplies. the president saying corrupt joe biden and democrats don't want to open schools in the fall for political reasons not health reasons. yesterday new york governor governor andrew cuomo says it's a fluid decision. >> we want kids back in school for a number of reasons. we're saying we don't want children to go back to school until it is safe. i'm telling all school districts to have a reopening plan. reporter: 1/3 of homes have a

child under age 14. when expanded unemployment benefits run out and 50 million workers will have to decide whether they stay home or go back to work. gender gap could widen from two incomes. online casts may be less effective. education inequalities may widen as higher income families have more resources to have their kids learn in other ways. the vice president will talk to the governor in a phone call and probably mention a few of those things. back to you. neil: good job my friend, as always edward lawrence, go to phil keating, florida, that turn into a hotbed of difficulties, and reopenings, particularly miami-dade comes to mind. phil what is going on? reporter: south florida's

reopening plans are seriously on the rocks, heading back into the direction of that super may shutdown that wrecked the economy as covid-19 cases keep on criming. miami-dade is retracting 50% capacity for indoor dining rule that restaurants have been doing for five or six weeks. no more. starting tomorrow, only take-out, delivery or outdoor dining if they have it will be allowed, another crushing blow to the service industry. beaches are back open today after closing up and down the coast for the 4th of july weekend. miami-dade county's mayor has brought back the nightly 10 p.m. curfew. movie theaters, bowling alice, strip -- alleys and strip clubs are back to being closed. new all time one-day high on saturday of 11 1/2 thousand. that is the most of any state since the pandemic began. today's number out about an hour

ago, 7300 new cases. florida's governor expressing calm and not rolling anything back. showcased the bar graph showing florida's fatality rate for positive cases is much lower than many other states, including connecticut, new york and michigan. >> this is a virus that does not affect all age groups equally. it is much more lethal for people who are in their 80s and 90s. reporter: miami-dade has a third of all the state's surge in cases. testing is up but so are covid hospitalizations, icu admissions and ventilator needs, all up double. five orlando area hospitals now reported to be totally full, no more capacity in their icu units. however there are available beds in the area at other facilities. to date florida has had 214,000 covid-19 cases and nearly 4,000

fatalities. neil? neil: thank you my friend, very much. phil keating. phil touched on governor rohn desantis. he will be addressing reporters in another hour. we'll dip in if there is update to a lot of revised restrictions fill got into. meantime the markets are weighing other developments far more promising on the virus. the very low death counts we're seeing that might be a lagging indicator. you like to see that happening even as the expected rise in cases with all the testing going on is going to materialize. you don't like to get all the positive cases we're getting. that is a bit of a problem. but that is one one of the thins markets other people look at, doctors more favorably. because of those who are getting hit with this, are dealing with it. it is still early here as we get the numbers, follow the process but hospitalizations nationally are actually down. it is in the problem states like texas, florida, arizona,

particularly arizona where there is a limit on the icu beds that are available. i believe they're at roughly 90% capacity right now. we'll keep you posted on that. also keeping you posted on some promising vaccines and treatments an antigens are coming to the fore promising at end of this year. i want to get intoth with joe durant, goldman sachs personal management. joe, remarkable how talk much vaccines and treatments, whether it is regeneron and novo wax or becton dickinson antigen you mention progress on that, and people get excited, rightly so what do you think? >> like of coming to peace after war, you have to think what

we're going through with the pandemic like a war. we're in the midst of it. there is no resolution. talk of finding finding a cure, october to go back what was normal allows for the ability to imagine getting through it. so it is really helped to think of it, in that pairable. it is like a battle. signs after peace treaty we can go back to normal. the question is, will the recovery once we even get it look the way it did? what you're seeing in all the tech stocks this, is accelerant to fundamental change a structural change how we work. so it does matter a lot we find a cure or a way to measure and identify sooner but for the meantime we're still living with this, with some uncertain involved. as you can see from what we've had in california and florida, the reclosing, that the recovery which we had assumed was going to be a 33% increase, quarter over quarter, we're not dialing back to 25% and who knows what

happens if we continue to see these spike in cases. but yes, talk of a resolution is always helpful. just like finding peace in the middle of a war would be helpful. neil: yeah. you know what is interesting too? you look at the state has are delaying their openings or in some cases reversing them, it does call into question that v-shaped recovery and all of that, i get that but throughout we keep getting surprising data on the home sales front and just this morning a big increase in job openings in may that was significantly stronger than most thought at about 5.4 million versus the 4.8 million estimate. we keep getting data like that. i'm wondering what you make of that, whether that will provide a foundation for nervous markets? >> yes. well two things are true here. one, two things happened on a federal level that have been very helpful. number one, all of the support

that was given in a fiscal sense blunted impact that most people felt financially. many of the people in the service industries are making more not working than they were working. that is helpful. that comes to an end. looks like there might be an extension of some form. that is the first. the second the feds put a lot of money in the system and reduced interest rates to zero which makes stocks being the only viable alternative. so when you have a really no good place to put your money, that pushes you to the stock market, but the economy itself has not really suffered a lot because we pumped trillions of dollars into the economy. you can't keep that on forever but we know that this will pass. this won't stay with us for five years or 10 years. this is a temporary thing, even if we don't get a cure, it will be resolved probably this time next year. again i'm not a doctor, but these viruses do pass, even if you don't get a cure.

the more that time passes -- neil: we're still dealing with this next year at this time, joe, man we've got more problems than we were originally counting on. thank you my friends. always good seeing you. continued good health. joe durant. we were also looking some other ways washington is trying to stimulate things. you heard a great deal about i paycheck protection program was to help small businesses get a little dough to help them, all the ones getting funds, they're not hurting. kanye west looking at potential run for president, his yeezy clothing brand got dough from the government. p.f. chang's chinese bistro, girl scouts of the united states. five guys enterprise delicious burgers. do you need our tax help to keep churning them out. let's get the read of all of this from chris bedford.

this is a long list, a who's who list, you wonder about all the people that didn't, what do you think? >> it was difficult for little guys to get loans. the way congress wrote this was relaxed last minute by lobbying the banks that wanted money to move easier. while the small community banks are phenomenal getting money to their community, they rely on and a part of, incentives for bigger banks have not lined up that. the law was first-come-first-served once the loan is submitted to the bank for the small business administration, before that banks were choosing companies that owe them money. companies more likely to survive. companies where they could make a higher profit than the smaller loan for giving this loan. they were polluted in that way. these are money-making institutions. because of that, because of the lackness of some of the law to make money move more quickly, big companies got taxpayer money

that was meant to keep main street alive. neil: we should stress here, chris, none of this was illegal. they could do this if they wanted to, if they met the criteria. they had a s.w.a.t. team of lawyers and accountants at the ready to put this together like you said small mom-and-pop concerns are not so prepared but it will raise questions going forward beyond expanding this program who you expand it to, right? >> absolutely. congress had to move quickly on this i understand they had a lot of pressure. the banks were never an ideal way to deliver this money but they were in the business of making loans. fortunately the government is not in the business of bailing out the entire u.s. economy at once. so they went this way but congress will have to do a postmortem on this, and say where did the money go? fortunately secretary mnuchin has indicated that companies did not deserve the loan, did not actually need it, he will claw back and investigate them.

a number have already given that money back. some have refused. neil: this could be a big issue for kanye if he runs for president, right? they will raise this issue, kanye, your first, your first crisis, right? what do you do? >> like donald trump said. i used the system because i'm smart. neil: yeah, that is exactly right. chris bedford, great catching up with you, my friend. as chris was speaking you might notice the dow accelerated some losses having nothing to do with chris, down 209 points here. it is the issue of a potential spike in cases that is rattling folks. all these reports of violence in one american city after another. each and everyone apparently unprepared how to deal with that. when we come back, we'll be looking what is going on in seattle right now. you would think with all the concerns of six-block area taken over by renegades, they would look at legislation or something to address the crime problems and all the problems that came with. that you would be wrong. you won't believe what they're

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♪. neil: you know, seattle is a technology mecca to the world. probably some of the smartest folks live there but not necessarily when it comes to the local seattle council, in the middle of all the crime and violence and the disruption, zoning off a six-block area that resulted in, still more violence, in the middle of that, given the first actions it could make as it regrouped, that is the council it, comes up with a tax on big businesses that pay high salaries. i'm not saying that is not an unimportant issue down the road but it is sort of like ignoring the fire that is right outside of your house. rebecca walser, i don't know if this solves anything. we can get into wisdom of taxing companies, but seattle seem to have more immediate problems on your streets. what do you think? >> neil that is a big problem. they tried this in two years ago in 2018. they were faced with a voter

referendum, repealed it automatically. but what happened since then, five council members pro-business, were supportive of amazon before were replaced and now you have 7-2 vote basically said yes, we're going to tax any company that pays more than $7 million a year. i'm seeing these big business, $7 million a year we would consider a middle market company. or even small to middle market companies. this is not amazons. this will impact a lot of businesses. for anybody being paid over 150 thousand charge them a tax from 1.7 to 2.4%. that will put seattle top tax rate for state sales tax or local tax what we call it in the tax world and it is shocking, neil and here's why it is shocking. it is almost punitive tax at this point. what are we getting for the tax or services? class action business lawsuit going on against the city of

seattle filed by businesses that were basically considered held hostage in the autonomous zone they were completely without services. they were left to their own devices, abandoned by the city. they're coming back, they're saying now we want to increase your taxes if you are paying more than $7 million in payroll out a year. i can't believe it! i'm shocked. neil: well they're also separately looking at an asset tax as well. amazon is headquarters are there. he is the richest man on earth with run-up in his stock well over $3,000. we're taxing some assets. from what i have read and seen in seattle, issue is not lack of money, it is more issue of wasting a lot of money. getting more of it won't alleviate the homeless problem. won't alleviate the disruptions that the city saw, pretty violent ones they saw in the past month. so i'm wondering if they're just making business out to be the villain here.

they get plenty of dough. it is just going to weird places. >> you know, neil, there has been some great documentaries on seattle that are non-political. they have no political bent but it actually tracked police officers and one guy, i watched one documentary the guy had been with the force of seattle for over 20 years and he just said, you know what? it is pointless because we arrest these people. they literally get released immediately with no bond, no jail time and it is just, there is no point. what they have in seattle is a very big heart for homeless people but what that has done, they have all the drug programs where they can have their safety for their drugs and all these things, all that done is attract the homeless people. they're getting more and more people coming and less and less businesses because there is no protections of staff. like some cities in california consider theft under certain level as not a crime. they will not pursue it. they will not actually prosecute it.

so, when you have these kinds of policies it attracts those kinds of people and businesses get pushed out or they get turned out because they're clients come into their door without fear of you know, having to deal with that kind of population. so they're has to be some sort of law and order for these services or businesses, not just agree to pay these taxes. they will move. amazon is, as great as jeff bezos might be the we've ever seen, amazon still has to answer to shareholders. they will have to say, hey, does it make sense for us to continue to remain in seattle? if this keeps going, they will say no. at some point they are going to say no. this is not logical. neil: yeah. it is one thing to sort of bite the hand that feeds you. it is quite another to gnaw on the arms and rest of the limbs as well. we'll monitor this. seattle is potential blueprint

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♪. neil: all right. we'll be monitoring florida governor ron desantis who is addressing reporters right now on news of new restrictions in the state that included dialing back on, in dining and the rest and continue to keep a number of beaches shut.

we'll monitor that for you. meantime monitoring the conundrum for a lot of employers who want their workers to come back. many of those workers are leery about it, mainly because some of them are getting those extra federal government benefits that total $600 a week on top of their state benefits. they're crunching numbers, saying wait. kristina partsinevelos is following that. for the folks who want them back it makes things rather difficult. kristina? reporter: right. the co-owner of this grocery store chain behind me says some former workers are taking advantage of the system. with 16 locations around the city morton williams says they're trying to rehire workers. they say the extra cash from the government makes the rehiring process a struggle. the co-owner actually said some workers are double-dipping, working while claiming benefits, or some workers who left voluntarily are also filing for unemployment. you have the chain refuted

claims to the state but new york state has not responded. we talked to the co-owner, who said it is amazing how many people filed for unemployment insurance. >> over the past four months we let go total of three or four people, can you imagine that? three or four people total in our entire chain of 1200 people. we now have 600 unemployment claims of which 1 off have already been paid. -- 160. it is just mind-boggling. reporter: not just morton williams. i spoke to the owner of a new york city bar, some employees are demanding $20 an hour to enhanced benefits, or working less than 30 hours a week to get the benefits. we reached out to new york state with this quote. unemployment benefits are a life line for workers that lose their job. it is unacceptable that dishonest individuals would seek to defraud the system for their

own gain. make no mistake, cheating the unemployment system is a crime. a lot of people are staying home not returning to jobs because of health concerns and care giving. but you said it could also be from the combined income from the government benefits. you get $600 a week from the federal government. there is additional amount from the state level. here in new york, the minimum amount is $172. that is adding to the struggle for a lot of businesses to rehire. new research shows 32% of small business owners for the month of june are struggling to find employees. so you have struggle of rehiring, the piles of paperwork for unemployment claims and the possibility that rates could increase for unemployment insurance that a lot of these small businesses locations. that further adds to the woes of small business owners. so doors may be open, but business is far from those precovid levels and the struggle to rehire continues. back to you. neil: wow, how much more can these guys take?

kristina, thank you very, very much. kristina partsinevelos on that. i promised you we would continue to listening to florida governor desantis. we're getting news now that 54 florida hospitals in some 25 counties are now at full intensive care unit capacity. this is something they follow very closely because it's a situation that they bumped into in arizona, in texas, depending on the city and the county. the number of icu beds is getting higher and higher and higher and those occupied on a percentage basis higher and higher. not all covid-19 patients i might add but a full icu is a full icu. it's a worry. we're worrying in florida as well with 25 counties reporting among 54 hospitals that they are stuffed to capacity. we'll follow that. we're later on watching the president will ought line what he wants schools to do. he is very scoon on it. you heard earlier on this

network, that governor andrew cuomo is keen on schools opening as well but he wants to make sure it is done safely. this is the defining issue at the moment in this contest and president's response will probably decide which way this thing goes. a little too early to decide it on a single issue. this one is front and center for the time-being. jerry seib joins us, "wall street journal" executive washington editor. much more to us, crackerjack writer and thinker. jerry, on the virus and the commoditilycations around it and businesses have tough time for people to get waned off government help to come back to work, up surge in cases for a number of states it is looking kind of bumpy. nationally not as much but what's your take on how it's affecting this election year thus far? >> first of all i agree entirely

what you just said. in conversations with trump campaign folks and biden campaign folks it is striking they don't agree on much obviously, but they agree the coronavirus is back as the paramount issue in this election. maybe a few weeks ago that didn't seem as likely. maybe the virus' grip on the country would have faded or eased by the fall. now it doesn't look that way. i think both camps see the strategic landscape the same way. this is now the paramount issue. now their prescriptions are obviously way different, the message will be way different. i think trump message will be i'm the guy who can reopen the country and not let us get paralyzed by the virus. by reopening, he doesn't just mean businesses as you just suggested, he means schools. the biden message you have to have a more robust government response because you will not reopen the economy and not reopen schools unless the virus is in better control and that requires a more aggressive federal response starting now

before it gets worse. it is interesting that the virus is back as a political issue as big as ever. neil: you know, the markets might of today, jerry, have been storming nicely. nasdaq record after record after record. with a backdrop of polls that don't look good for the president. i'm not making a personal statement here to say, wall street made a lot of money under this president just as it made a lot of money under bill clinton. so i don't think they cast political aspersions here. they like making money. they made a lot of money under donald trump. i'm wondering polls that show the president might not get reelected don't seem to jar these guys. why is that or is it just a matter of it being early? >> well i think it is early but i also think the reality is, you're talking about markets being now buoyed by what you can pick your figure, but $6 trillion of government cities

assistance. that is non-partisan idea. you put that much additional help and stimulus into the economy and thereby the markets i think you get an effect and that is not a political judgment and i don't think what you're seeing in the markets is a political call necessarily one way or the other. it is reality, depending on your standards for success the government intervention here has worked and that's the reason you're seeing what you're seeing and different than what i would have expect the four months ago but that's the reality where we are. neil: nevertheless, you're right i think stimulus is still out there even if it's late, it is debated, it will be out there no matter who is elected but if you think about it, joe biden will be raising taxes. depends who you talk to how much. we know the corporate rate by his plan would go to 21% to 28%. it would reslap the high-taxed measures we had on the wealthy,

maybe go after some others yet the markets seem to digest that and i'm wondering whether they're not paying enough attention, if that sinks in do they start guarding against that, what do you think? >> i have two thoughts on that, one of the other realities is here if you're a market analyst and looking at picture in washington where i live down here, one of the things you say to yourself nobody in either party cares anymore about the deficit. there is not going to be any boundary how far the government can go to keep things propped up. every president wants things propped up. that would be donald trump or joe biden. that is one reality. the darker reality, there is some things in the preceding segment talked about this, happening in the real economy not fully reflected in the market yet. small businesses as previous piece indicated are still struggling. the programs have helped and not have been effective and targeted or precise as the government hoped and things are not taking

into a account yet. potential of waves of foreclosures on mortgages, for example. people's job lost turning from temporary into permanent as this plays out. i think there are some dark undersides to what we're seeing right now maybe aren't fully reflected in the market because they're not quite there yet but they are going to get there. neil: all right. we'll watch closely. jerry, always good catching up with you. continued good health. be well. jerry seib of "the wall street journal" and much, much more. confusing times for real estate too. we have a jim-dandy special coming up for you, virtual town hall 48 hours from now. barbara corcoran will be my specs guest. when we look at real estate and opportunities there, that is percolating not too far from where i sit in manhattan is not percolating. some swanky condos and penthouses are not moving. the only way they get them moving is dramatically slash their prices. are average millionaires and billionaires doing what everyone else is doing, rethinking where

they want to permanently be? why the suburbs are looking hot. cities are not. we're exploring that. looking forward to your questions. invested in you @foxbusiness.com. i reminded a lot of folks i seen some of your questions, some have been personally nasty and some have made comments about my weight. i told you a thousand times that the camera adds 50 pounds. unfortunately for me i bumped into a few of you in my local time see me, say, no, it didn't but i'm telling you i don't need the nastiness. constructive questions on housing and economy on thursday. stay with us. ♪ ♪ come on in, we're open. ♪ all we do is hand you the bag.

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♪. neil: all right. everyone focused right now on ghislaine maxwell. xi is expected to appear for a court bail hearing next week.

not so much what she knows but who she knows in concert with the whole epstein case where it is going. bryan llenas following this better than anyone i know, joins us right now from brooklyn. reporter: neil, good afternoon. former girlfriend and long time confidante and alleged madam ghislaine maxwell was sent to the metropolitan detention center in brooklyn. this is a far cry from luxury she is used to. she was arrest the at one million dollar estate in new hampshire last thursday. week long power failure forced inmates to live in very cold temperatures in dark cells during a polar vortex. this facility though is just 20 minutes from the metropolitan correctional center where jeffrey epstein was found in his jail cell in apparent suicide last year. reportedly the bureau of prisons is doing everything they can to insure that maxwell does not

suffer the same fate and actually makes it to trial. according to the "new york post," maxwell is guarded by the prison's highest security variable. shadowed every time she leaves her cell and a surveillance camera is focused on her cell as well. maxwell is said to know a lot of information about epstein. she introduced him to britain's prince andrew hot who the fbi is trying to interview. reports that maxwell has videos from inside of epstein's new york mansion. attorney glorida allred represents epstein aabusers thinks maxwell will plea. >> she could decide she wishes to cooperate, become a cooperator with the prosecutors. she knows quite a bit about the powerful men who were close to jeffrey epstein.

reporter: and all of this, neil, as today, deutsche bank was fined $150 million for their associations with jeffrey epstein, the first time that a bank has been punished for its association with epstein, alleged for essentially enabling him while he was making all these payments to co-conspirators and other women. neil? neil: bryan llenas thank you very, very much for that. meantime here, we should let you know about all the violence that has been occurring in cities and states across the country. georgia governor brian kemp says he wants to deploy 1000 national guard troops, declare a state of emergency because of all the violence especially over the fourth of july weaken which an 8-year-old was killed among others. we have joseph pinion following this closely. joseph, if you add up deaths and

shootings the past four days, we're close to 50 deaths and we're well over 300 folks that just got shot. i'm wondering the president made it clear to those states and city where this is happening, you can't control it, i will. are we at that stage now? >> i think we're 100% at that stage. i think again if we're going to have people who criticize president trump and tell him that justice reform has to mean more than pardoning alice johnson, we have to know that justice for black people has to mean more than tearing down statues of people who are no longer here. we have to talk about 3-year-olds being shot dead in drive-by shootings. we have to talk about the fact in new york city in the month of june alone, every single murder victim was a minority. we're looking at homicide in the city of new york city up 27% alone year-over-year last. go to a place like chicago, we're up 83% over the last month

in homicide. so we are a nation coming undone when it comes to law and order, talking about safety and security for people who need it the most. so if we're going to make this moment a chance to stand here and say that we need equality for black people, security for black people and justice for black people and most assuredly we need law and order to keep black people safe and individuals running around yelling defund the police are clearly missing the forest from the trees. neil: i think it was you who said all black lives matter, not just some black lives. this increasing escalating violence is a reminder of that, huh? >> yeah. i mean i think, when you really break down the core issue here, i mean what is this moment going to be about? are we going to talk aabout symbols of racism past or are we talking about substance of reform to have the 21st century all people deserve? when you talk about what is ailing black communities, it is

not really talking about statues. we're not talking about mrs. butterworth or uncle ben. we're talking about families in the midst of a covid-19 crisis where you're seeing more black people affected. seeing more black people lose their jobs. seeing more black people unable to pay their rent or mortgage, have to contend the fact that children are being fitted for coffins. if we don't have that stark conversation, none of the other conversations really matter. when i have to sit here listen to bill de blasio talk about we're the safest big city with families over here trying to put loved ones in the ground where family members can't even attend, they have to have a funeral via zoom, it shows me how out of touch some people are with the actual pain and suffering afflicting people each and every single day. neil: man, that's powerful my friend, thank you very, very much. i can't top that. so i won't. we'll have more after this. i got an oriole here.

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9dollar $98 a year, service include grocery delivery and gasoline perks, that is taking on more. amazon is such a behemoth where competitor from a single entity doesn't do anything one way or the other. it is down more than 16 bucks. it crossed $3,000 a share just yesterday. the stock effectively doubled in the last 10 months. the fight is on online. for these two who are now trying to pursue the shopper they're trying to make it as entices as possible. stay with us. you're watching fox business. ♪ r car insurance so you only pay for what you need? given my unique lifestyle, that'd be perfect! let me grab a pen and some paper. know what? i'm gonna switch now. just need my desk...

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neil: all right. as you have been hearing, let the reopenings continue. they have been a bumpy ride. florida's governor just finished speaking with reporters in which he said some of the indoor dining reversals will remain in place, especially for multiple counties in the southern part of florida. you are seeing this played out pretty much across the country where some new hot spots in the likes of texas and arizona, where they have been experiencing rocketing use of icu beds and the like, not all covid-19 cases, but they worry when that gets very very high and we are about 90% plus

capacity in a couple of those, particularly arizona. we will detail you on that. nevertheless, there is still a full push to reopen this economy and the president now setting his sights on the fall, saying it's important that all schools reopen in the fall. margaret spellings joins us, the former bush 43 education secretary. secretary, very good having you. i guess they will work out the details how you go about this. the argument is that it's safer to do because kids don't get the virus or they are largely resistant to it. that doesn't mean they can't carry it to older teachers and administrators. i don't know what the medical details are. but the president still wants to see those schools open in the fall. how doable is that, in your eyes? >> well, i think it is with great care and caution and great planning and great communication. i think we have all seen how integrated functioning of our

schools is with the functioning of american society and business. parents who are working from home can't do so very effectively whether they are trying to manage a couple kids and teach them how to read. i think we can do it. it will take a lot of planning and communication. neil: you know, all the way up to the college level, when you think about it, i was curious that harvard, for example, will be going pretty virtual in classes this fall, but charging the full price of tuition. a lot of people are sort of recoiling at that. it's unique in that respect. how do you think of the way colleges are preparing for this? >> well, this is the beauty of american higher education. there are so many options. i think people who are price-sensitive more than they are brand-sensitive will maybe take a look at that. but i think we all hope that this is a temporary situation, that at harvard you still have access to a world class faculty and world class peers and that

we'll be back online within a year, let's say. so you know, certainly we've got to make the financial aspects of this work as well and they are still paying their faculty and frankly, a lot of things are even more expensive with the need to clean and the need to filter and the need to distance people and on and on. anyway, consumers can vote with their feet on that. but still, it's a great time to invest in yourself and invest in learning and to do something that no one really can take away from you. neil: all right. we will watch it closely, secretary margaret spellings, thank you for joining us. we will get details of the president's plan to reopen, this is largely elementary, middle school, high schools he's talking about here, not so much in the college arena, but we will be looking out for it. dr. nicole safier joins us now. doctor, this push to get schools to reopen, governor cuomo has

said he would like the idea, he wants to make sure it's safe. do you think as things stand now, it's safe? >> well, neil, i mean, when it comes to reopening schools, you can't just -- it's not a big blanket answer that i can give you. it's going to really come down to not even state by state but school district by school district. the american association of pediatrics or american academy of pediatrics, they said that any plans going forward need to strongly consider in-person classes, especially for the younger children, and it's because in-person interaction is just so vital to their development. so as a mother of three, of course i am strongly encouraging schools to be creative and come up with ways that they can safely have children come back to sdochool. that being said, a lot of school districts will have a very hard time funding some of these measures that they may need to take to keep children safe. neil: so for those schools that have to change things around,

let's say you normally have a class of 30 and now it's going to be a class of 15, i don't know how they are going to do it, to be honest, how would you as a doctor and a mom, three kids, how would you advise handling this? >> well, there's a lot of things that can be done. it definitely differs depending on the age, level of development of the child, but that being said, it sounds silly but hand hygiene, something we have been talking about for a really long time, is really the most important thing. it's not just about washing hands and making sure children aren't touching their face which let me tell you, that's very difficult to get kids not to do, but it's also about how close they are with other children in indoor confined spaces. we need to communicate with our children, we need to make sure they are aware how this virus transmits and we need to have the classrooms think of different seating charts. how can it be so that children are spread apart a little more, can there be cross-room ventilation by opening up windows or having a stronger ventilation system, should there

be a stronger symptom check for children coming in. a lot of kids get sent to school because their parents just think they have the common cold. that's not going to be the normal going forward. we really need to continue to strongly encourage people to be getting their entire family flu vaccinations as we enter the fall. neil: i would like to just end on some news that has come out of this florida presser, doctor. 54 florida hospitals in 25 counties are kind of at the max on intensive care beds. we have heard similar reports i believe out of arizona. i understand they're not all covid-19 cases. i get that. but they are filling up fast. what do you make of that? >> well, you know, it really varies. i have reached out to a lot of my colleagues in arizona and texas and even in florida, and one, florida hasn't necessarily been as forthcoming with some of their hospitalization data. it's just been harder to get some of that from them. but here's the thing. when we were talking about new york and new jersey, about saying that we were running low

on ventilators and we were at max capacity, we had already transformed non-icu areas into icu er s they are not there yet. even though they are at near capacity, we have to remember that most hospitals run, they are usually somewhere between 60 and 80% capacity as is. that being said, they are now playing catch-up because of the elective surgeries that were stopped so you have patients who are trying to get in right now getting their health care, taking some of those beds, and we also have people being treated for more severe disease because they put off their medical care when maybe they shouldn't have during some of these heavy lockdowns. again, we need to keep an eye, look at these hospitalizations. we know there's viral transmission out there. we still have rising cases. there is a little bit of lead time bias because people are saying the deaths are still low, which they are, and that's great news, that means we are protecting the vulnerable, but there's going to be a lag with the deaths, one to three weeks, so we need to make sure we are still vigilant, people are doing what they can to decrease the

spread of this highly infectious virus. neil: doctor, thank you very much. good catching up with you. as the doctor was saying, you want to be careful how you go about things but there is the economic frustration when things are delayed, for example, amc now is suing the state of new jersey over an unconstitutional closure of the state that is extended a number of weeks. governor phil murphy has not detailed when those theaters will be allowed to open. they had the opening for next month. meantime, a lot of people are doing what they have been doing throughout the crisis not only in jersey but elsewhere, streaming. a lot of that's a chance for those of you who get the opportunity to stream the "hamilton" play on disney plus. apparently millions did and millions who would see something that would cost more if they were waiting for tickets for the opportunity, there's a counterweight to that, a lot of people who claim "hamilton" was a racist and supported sl eed s.

he did not, by the way. leaving that aside, they were leading a cancel "hamilton" approach. i don't know as i see right now that disney has not taken the "hamilton" show off its offerings here but it's part of the fabric of the new life around us. connell mcshane following all these fast-moving developments right now, joining us from new york. connell? >> hey, neil. let me start with the movie theater lawsuit because that's interesting. there's been a lot of back-and-forth between companies that are allowed to open versus the ones that have to stay closed and how is the decision-making process being handled in the individual states. amc, cinemark and regal getting together on this lawsuit in the state of new jersey. you mentioned the constitution. their argument is on first amendment grounds, that they should be allowed to open, that's keeping them closed is a violation, the theaters argue, of their first amendment rights. so they talk in the complaint

about how indoor shopping malls are allowed to open and places of worship are now allowed to start opening up and say what about us, what about movie theaters. it will be interesting to watch this work its way through the courts and see if it goes anywhere, if it forces the hand at all of the governor phil murphy in new jersey. the thing about "hamilton" that we were wondering once disney plus announced it was moving up the date from 2021 to release the movie version of the broadway show on friday, what kind of impact would this be, would it really move the needle in terms of downloads of disney plus. it looks like it has hundreds and hundreds of thousands of downloads around the world. in fact, they compared it in the u.s. to an average weekend in june, people downloading the disney plus app, and the increase is about 74% versus an average weekend in june and that was, you know, element like that around the entire world. it was up around 50% globally. you announce a show like this with the popularity of this and even when it was on broadway,

tough to get a ticket, lot of people not able to go see it so now anywhere you have disney plus, you can see it and it really moved the needle for disney plus in terms of downloading their app. one more story before sending it back to you. we are watching it in the newsroom today. that is this data analytics company palantir which has filed to possibly go public. peter thiel is one of the backers of this company, software is used by governments and businesses alike. thiel has backed facebook and so many other companies over the years, had actually urged palantir to stay private as long as it could and it still might. this filing that has come out does not necessarily mean the company will go public. we have seen other companies file and then not go public. but this is out there. it's been a long time in coming. there's always been rumors around this company which has been around i believe since 2004 whether it would enter the public markets and now it might. back to you. neil: yeah. he made political news sort of, teasing that even though he was a big backer of donald trump first go-round, he's not

necessarily raising funds for him this go-round because he's not optimistic of his re-election chances. has he spoken any more about that? >> i haven't heard anything to add to that but that was news when it came out, because you're right. thiel i think, surprise might be an overstatement but certainly grabbed people's attention, at silicon valley, when he came out so publicly in support of the president, and if that's the type of voter that you are losing the next time around, that certainly could be a problem for the president. you know, both just looking at the type of business swing voter that thiel might represent but also to your point, the amount of money he could raise although if you look at the fund-raising numbers, doesn't look like the president or joe biden is really hurting for money right now. neil: they don't really have to worry about that. thank you very very much. appreciate the update. connell mcshane. catch him less than three hours from now on this fine network. we pelt you with a lot of economic news but the one thing that's been very consistent is

the boom in housing related activity, not only those applying for mortgages but what you have been seeing on general home sales, promissory sales and commitments and the rest. no shortage of demand, a lot of it fueled by people throughout the coronavirus who are rethinking the homes that they're in and looking to move a little bit further from where they are now, or in safer locales. what benefits in this environment, what's going on in this environment? david dworkin of the national housing conference, the big cheese there, the ceo, with us now. david, what is driving this? what is making people look at this? >> thanks for having me, neil. there's a couple of factors. one of course is that we have far less supply than we need. so the law of supply and demand is never repealed and that's going to drive the housing market. the other factor is that housing has led us out of a recession in

every recession since 1960 with the exception of the great recession. so that's something in our favor. and definitely at least anecdotally you are seeing some people a little stir-crazy in smaller apartments and saying i got to get out of here, i would live on a farm if i need to. i think a lot of factors in that. but really, for millenials, that is much less of a factor than they form households later than gen-xers or baby boomers. so they are about five years behind, a lot of them are pushing 30 right now and when you've got a couple of kids, that one bedroom apartment seems awfully small. so we are seeing that at the same time. neil: i noticed in the latest pending home sales, they have spiked more than 44% in the latest month. did you expect that and who is behind the spike? what's driving it?

>> so i did not expect that. i think it's very healthy number. as i say, i think that the lack of supply is really driving this. we have a lot of pent-up need out there for more housing, especially what we call work force housing, and we are very short of housing that's affordable to people in lower incomes. the good news for the economy is that's a lot of potential construction jobs to put people back to work. i think that we really need to look at the markets and say we need bigger apartments and homes that are proper for our growing families and they need to be more affordable. that's the growth market today. neil: all right. we will watch it closely. good catching up with you. those are incredible numbers. let's see if they continue. national housing conference ceo. by the way, we will be addressing this in a lot more detail on thursday with a special show, with the likes of barbara corcoran. you talk about a real estate

guru. she's very good at seeing trends. one of the trends she was on very very early in the middle of this pandemic was the waiting time for pricey manhattan properties to sell. penthouses that went begging and prices that went dropping. sure enough, within weeks of that, that is exactly what has happened and continues to happen. by the way, not only an expensive urban locales like new york city but chicago and atlanta and some of these other big cities, where a lot of people who have been sheltering at home have figured i don't want to go back. barbara corcoran on that. we look forward to your questions on this and get them to us. we are getting them together right now. some of you have really got some doozies. even talking about the ones that got a little personal with me. that's fine. i love you all. but this should be a good show. just a step back and look at the real estate impact of all of this thursday at 1:00 p.m. on this fine station. stay with us.

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neil: you know, every day it looks like more of a sure thing for boeing regarding the 737 max. it is announcing that it is scheduled for yet another test in the coming days.

there are a series of tests coordinated with the faa and then on its own with customers to make sure that it plays out and that all safety issues are addressed. they are going on to say here that this will include all intended changes to the fleet's flight control system according to people who have the details. you might recall there were some quirks to this or deemed to be quirks where pilots had to be well-briefed on the special thing they had to do when they would take off. apparently they have mitigated that right now and have included a vast new training procedure but all this gets a little ahead of ourselves here. right now this is being tested under the auspices of the faa and others multiple times but it's the closest the company has come now to getting these things potentially back up in the air. we'll see steps in that direction. the dow down about 205 points even with all of this news here. a lot of it has to do with

what's been happening on the virus front, concerns right now with these states that are getting new problems, including icu bed space that is filling up in places like arizona and in florida. we will detail that again for you in just a little bit. i want to go to my buddy charlie gasparino right now on markets that are weighing the possibility of a president biden. he's gotten into that, about people building a biden portfolio and what happens if he continues to lead in the polls well into fall, and money managers start taking it much more seriously than they might be right now. charlie, what do you think? charlie: i hate to say the mainstream media because i consider us the mainstream media, but let's just say our competitors -- neil: i consider you the main of the mainstream. charlie: okay. thank you, sir. our competitors at the "new york times" and elsewhere are now picking up on the fact that wall street and what we have been reporting for weeks, wall street is quietly coming to terms with the possibility, i'm not going

to say likelihood because remember, they got it wrong in 2016, the possibility of a biden presidency and what that would mean for portfolios. the papers are filled with columns today and stories about how capital gains taxes will go up, how obviously the corporate tax rate will go up. biden himself has spoken about that. regulations will go up. all those are negative factors for stocks. here's what i can tell you, neil. because i have been talking with people at the major brokerage firms. again, as we have been reporting for weeks now, there is that fear. it hasn't totally settled in with the investing public or with clients. clients are much more concerned that stocks are much more trading these days off of stuff like the stimulus package, whether we get more or not soon, interest rates obviously at 0% so there's not a lot of places to put your money and on top of that, coronavirus and the containment of the spread of it or the spread of it in these hot spots that we are talking about

is having an impact on markets. but at some point, the brokerage people know, the brokers know and financial advisers and the people running these firms know there's going to be -- they are going to have to take a potential biden presidency seriously, particularly if he stays well ahead in the polls as he is now. again, we are early. they were wrong the last time. i think this is what you are probably going to see before the end of the summer. you are going to get some research on exactly what the fiscal policies of the trump administration which is lower taxes, keeping interest rates steady, and biden, much higher taxes on individual corporations, massive regulations, the possibility of elizabeth warren being treasury secretary also looms out there. that's a market negative, by the way, given the way she has gone after banks and other companies and similar positions on -- in corporate america. you might see that. at least that's what i'm hearing from the brokerage firms, before

the end of the year. real published research that used to in an election year be put out after labor day. that's where we are right now. again, markets, the one thing i can tell you this, and you know, you will freak out over joe biden being president and elizabeth warren being treasury secretary, you know, in terms of your portfolio, take out the economy, i think both would be net not good for the economy given their fiscal policies and what they stand for. a lot of the markets trade off of interest rates and if interest rates are going to be at 0% for the next two years, there's not a lot of places to put your money. borrowing is cheap and markets generally do okay when there's very very low interest rates for those reasons. remember, before you freak out, say i'm selling all my stocks because of joe biden, you know, there are other things to worry about right now, including the spread of covid which is obviously moving markets and anything changing with interest rate policy and another stimulus package which could jack up the

economy and take unemployment below 10%, it's at 11% plus right now, and that would be a net positive for the market as well. and again, this is really early. neil, here's the thing. joe biden and donald trump haven't debated yet. joe biden, if you think about it, doesn't get above 50% in most of these poll numbers. there's a little runway left. i have been speaking with biden people. they are confident, obviously, trump people are worried, clearly worried they are going to lose right now. but you know, if you are the front-runner and your opponent is donald trump and he hasn't had a great couple months and you don't get above 50%, in polls and that's where he is right now, right at 50%, guess what, this is still a race. no matter which way you cut it. back to you. neil: i'm old enough to remember, going back 32 years, around this time michael dukakis had a 20 plus point lead.

charlie: absolutely. now -- george bush was riding on the breaking economy. it's a little different. but you are so right. one other thing, by the way. watch thursday. bids for the mets come in. steve cohen is hovering and watching those bids. he may come in at the last minute and win the deal. just keep an eye on the mets as well. neil: i've got a lot going on because i'm doing my virtual town hall. so i really don't have time. got to prioritize here. all right, my friend. charlie: i will keep you appr e apprisappris apprised no matter what. neil: you always do. he breaks more business stories than anyone on the planet. i'm not saying that just because he's a great journalist which he is or that he's italian-american, which he is, which is a relief, but he just does. he might grate on some of you, i hear the nasty stuff, he's the best.

a lot of you who criticize him and by extension, sometimes criticize me, we are human beings. we take it personally. more after this. ♪ (vo) we're all moving at our own speed. from essential workers... to frontline responders... to you. whenever you're ready to get out there, enterprise is ready, too. ♪

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neil: all right. health experts really are undoing with this virus, warning of so many things that can go wrong, such as fears of a pandemic building or a surge in cases that is frightening or saying that violating social distancing or capacity provisions are going to lead to, well, more problems. some people say they are scaring the wits out of us and they want to rein that kind of talk in. we are following all of this from san francisco. claudia? reporter: as covid-19 has put public health officials in the spotlight, many have experienced intense criticism, even threats,

over their handling of the outbreak. some have quit or been fired in west virginia, for instance. one doctor was filled out after governor jim justice accused her agency of inflating virus case numbers. others left in the wake of high profile pressure. ohio's now former top doctor amy acton had protesters show up at her house for her role in stay-at-home orders that kept businesses closed for weeks. some still on the job are facing intense backlash. >> i, like hundreds of other public health officials across the country, have in fact received threats and have in fact received a lot of hate mail. reporter: in los angeles, dr. barbara ferrer says she handles press briefings herself to shield her staff from attack. she and others understand why people are so angry but they say the backlash is misguided. >> there's an anxiety based on who they think are the decision

makers so public health i think is -- has been brought into focus. reporter: public health officials are taking heat for acting too slow on things like travel restrictions and contact tracing and too fast for imposing lockdowns and face mask requirements in places with relatively few cases. >> not that the advice and the guidance that was given was wrong or incorrect. it's that we are learning more and as we learn more, that informs and is able to allow us to better -- give better advice and give better guidance. reporter: she says that public health officials walking a fine line, trying to save lives without upending them. neil: thank you very very much. we have been reporting, claudia touched on it as well, the spike in cases going on across the country.

some that are pretty relentless right now, certainly talking about arizona and southern florida, where they are cracking down on the number of things including use of beaches and keeping distances at restaurants if they are lucky enough to be open. san diego has been doing soul searching itself on this very issue and reining things back. the mayor joins us right now. mayor, good to have you back. i think this involves shutting down indoor dining and i'm wondering what happened to prompt that decision. >> well, you know, that just came down yesterday, neil. it's good to be back with you. you know, that's been part of the issues, obviously, that we are dealing with, and particularly looking at it from all of these restaurants that particularly over the last month have spent a lot of time, effort, capital, to get ready to reopen, to follow trulihe rules to do it safely so now to see indoor dining shut, that's going

to make a big impact on folks that are literally living paycheck to paycheck. one of the things that i announced yesterday here in san diego was an executive order that will allow restaurants to expand out into the sidewalk, other areas, parking lots, with one goal. how are we going to help keep some of these small businesses alive, how can we keep outdoor dining happening safely, to get through this pandemic. neil: you know, mayor, from what i heard, there were 19 counties, i could be wrong, sir, my information might be dated, where there were spikes in cases that warranted in some cases closing down beaches and the like, but is it an overreaction? some californians who had it, particularly business owners, say it was. >> well, we are seeing a lot of frustration, particularly from some in our small business community. you know, because people have been doing the right thing. they have been following the rules and that's all you can ask people to do. as long as we have tried to

communicate very clearly, as we reopen, it's not going back to normal, how things were. it's going back to that new normal. so whether that's small retail establishments, whether it's, you know, practicing social distancing out in parks and public spaces, or certainly from a restaurant standpoint, the ability to do things differently, and i think it's been tough as folks have, you know, gone back and forth in some of these things but look, we are all in this together. we have one goal which is to make sure that we can keep people healthy, we can keep people safe but also, that focus on keeping people earning a paycheck because that's incredibly important to keep our economy going for hard-working families, not just in san diego but all across the state of california. neil: all right. i hope it works out, mayor. as i said, you have a beautiful city. some hard-working people who continue to make it a beautiful city. i trust you will. hang in there, mayor.

these revised shutdowns are coming at the worst time for folks who were just getting their sort of feet back in traction here. we will keep an eye on that. we are also keeping an eye on how our behavior is changing as we are coming out of our homes. apparently when we were sheltering, some of us were doing a lot of eating. some of us were having a lot of chocolate. now that we are coming out, we are not. for chocolate, those who are involved in candy and everything around it, it's a world of hurt. after this. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

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neil: all right. here's another case of how tough relations have gotten with china. the state department eyeing tik tok right now and restricting access. that's just the tip of it. susan li on the latest controversy and where this is all going. susan? susan: neil, they might even be completely banned. we know tik tok has been growing

in popularity, that is ever creeping into the everyday zeitgeist when you hear about these tik tok challenges, also tik tok now a serious player when it comes to the music industry, deciding which songs are big sellers but also posing as a national security threat, according to secretary of state mike pompeo. listen. >> we are taking this very seriously. we are certainly looking at it. we have worked on this very issue for a long time. >> would you recommend that people download that app on their phones tonight, tomorrow, any time currently? >> only if you want your private information in the hands of the chinese communist party. susan: in response, tik tok says we have no higher priority than promoting a safe and secure app experience for our users. we have never provided user data to the chinese government, nor would we do so if asked. they also point out their service is based in the u.s. and backups are in singapore and they recently hired away disney's streaming boss as its new ceo. tik tok is one of the most downloaded apps on the planet, downloaded over two billion times, and despite the concerns

over the u.s., they ahave now pulled out of hong kong because of the new national security law which means beijing can enact laws, jail and arrest people without hong kong's input but also, internet censorship and the likes of google, twitter, zoom and also facebook saying they are reviewing now some of the requests coming from the hong kong government for user data trying to understand what this national security law means and its impact on human rights but we know that many pro-democracy activists have either been canceling their social media accounts or scrubbing them of any posts that might mean any jail time or being arrested. tik tok, meantime, pulling out i guess taking a look at the market itself as they weren't making money in hong kong. they only had 150,000 users out of seven million residents and said we're not making money, might as well cut down on our costs and hedge on the down side. neil? neil: here we go. susan li, thank you very very much. following all those developments. by the way, with all this

back-and-forth with china and concerns about things heading south, we have, you know, two aircraft carriers in the south china sea, letting it be known we do not really think kindly of china with some of the actions you have taken to militarize some of these islands and the friction with hong kong. you think the chinese are going to make good on their promises to buy more goods from us? it's a worry that could turn into a bigger one. after this. 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.

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the anaheim angels actually had a different problem when their sample selectors didn't show up so the l.a. times report the team did its own swab test and mailed it to the mlb lab in salt lake city. the nats general manager mike r rizzo blasting the league for what he says are reliable, fast results that the league needs to get players back to bat safely, saying it puts the season in jeopardy. they are starting with a shortened roster. two of their players tested positive for covid-19 so they are out. three of their players had decided to opt out of the season out of safety concerns for their family. major league baseball does say there were delays this weekend but they say it was because of the holiday weekend and that these issues should not continue further. neil? neil: all right. hillary, thank you very very much. for those of you following the energy industry, by the way, this has not been a good time for pipelines. you had all the builders [ inaudible ] essentially quit. it was going nowhere.

then you have the dakota access pipeline all but shut down by a judge. where is this going? mike summers is the american petroleum institute president and ceo. not good times for your industry, mike. >> no. it's a very difficult time, particularly for energy infrastructure. we are very concerned about these activist judges really standing in the way of the infrastructure that america needs to continue this energy revolution that we have had over the course of the last 20 years. particularly on the heels of the covid issues, we need to get this infrastructure back up, because we know the demand for these products is going to continue to grow in the united states. neil: warren buffett must believe what you're saying. he's invested $10 million in dominion energy's business. he sees something maybe the judges and courts and those quitting it do not. who wins out here, do you think? >> well, look, one of the things that we know is that a world

energy demand is going to only increase over time. in fact, we expect that world energy demand is going to go up 50% in the next 20 years. as population grows throughout the world. and really, what the american voter has a choice between is whether that energy is going to come from the united states, as we currently are the world energy leader, or is it going to come from foreign hostile regimes to the united states. so we need this energy infrastructure to be online so that consumers can get access to safe, affordable and reliable energy. the choice is clear. it's either american energy or foreign energy in the united states. i think most american voters and most american consumers know what the real answer is, that's american fuels, american energy and that's from american jobs. we are really focused on making sure that infrastructure gets built as quickly as possible and of course, we have been

disappointed in some of this obstruction that's been going on and that means we need real permitting reform in the united states as well. because we need this infrastructure -- neil: you need higher prices and right now, the collapse has not helped. real quickly, and prices have rebounded, but are you worried that it's just cost-prohibitive to be in the business? >> what we know is the demand is going to be there. as demand increases over time, we expect that costs, prices for our products are going to increase as well. and the one thing that we know is that american consumers are going to continue to demand these products, particularly natural gas and oil. and that demand is going to continue. what activists have done, what they have been able to do, is really stand in the middle of the supply that has come online in the united states in the last ten years, because of the energy revolution, and the demand that exists by american consumers. we've got to fix the permitting

process if we are going to get this infrastructure online. neil: all right. we will see, one step at a time, to your point. mike summers, thank you very very much. the dow down about 165 points. energy not exactly a contributor right now. more after this. it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪

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prices collapsing, now that we're deshelterring and we're trying to be fit and i don't know what is going an, jeff flock is joining us with the phenomenon and the post-sheltering wave. jeff? reporter: wish you were here, neil, the wonderful aroma of chocolate is in the air. the chocolate factory behind me that used to be the smell of money. not so much today. take a look at latest numbers, 21-month low on cocoa prices yesterday in new york. and today, a new 21-month low. yes, you're right. why is that? because some ways too much of a good thing. demand down, production up. citigroup put out some guidance which indicates there are about 300,000 metric tons over in the ivory coast where a lot of

chocolate comes from. prices are expected to be down 7 to 10%. chocolate hoarding was going on when we were hunkering down and toilet paper and chocolate, those two items. the duty-free shops are still closed. that is a huge piece of the chocolate market. people are not going out. what does that mean in the chocolate stocks? a bitter taste in the mouths of investors i suppose. companies like hershey, nestle, the rest, not so hot right now. so as long as you have your own chocolate hoard you should be fine. maybe you get a break in the price. neil? neil: is this a worldwide phenomenon, jeff, or largely here? the whole world was sheltering, right? reporter: that is true. a lot of chocolate comes out of switzerland. that is an issue. they thought for a while that the rains in the west of africa

would hurt the crop. not so much. so there you go. too much chocolate out there. which suits me just fine. neil: i don't know. i covered you, known you for decades. you have not gain ad pound in your life so do you even eat chocolate? can you relate to this story? reporter: i eat chocolate all the time. forget the wine, women and song. i can do without all those things, but don't take my chocolate. the dark chocolate, all seriousness, pretty good for you. neil: that's right. reporter: you should try it, neil. neil: don't i know it. don't i know it. thank you very, very much. the last scale i stepped on said one at time. i don't know what you're referring to. jeff flock is the best. he has stayed that way before i knew the guy, working with him, following him, bugs me, you know? not really. some people have that kind of

metabolism. i do not. we're down about 170 points on the the dow industrials. following this closely. charles payne continues through the next hour to see whether nasdaq can continue to hold and. to you, my friend. charles: i had that kind of metabolism a few years ago. good afternoon, everyone. i'm charles payne this is "making money," breaking now, s&p and dow on pause. nasdaq composite continues its record breaking run, wall street firms, here is the problem, folks, they can't keep up with evolving fundamentals. how to chase breakouts this is major money making way in this market. when will individual investors get out of cash into this market? turns out the ppp, you know the program to save small businesses? it was financial free-for-all with a lot of wealthy business owners grabbing as much money as they could, while too many small