carl jr., and carl jr's wife, kim were always amazed at how much their mom's clients loved her. >> well, one of her clients, she had gone to their wedding and then went to a baby shower. so she just sold them a house. it was a newer client. and i think that that speaks for itself. >> she had a nice smile. >> she had a beautiful smile. and, um, she had a laugh that -- that would fill a room. >> and she was hands down the most genuine person you've ever met. >> reporter: chad, beverly's youngest son, says it was like his mom glowed. >> she was very radiant. i think that's what spoke out to people was that confidence, and people noticed. obviously, she was naturally beautiful. >> reporter: it was that natural beauty that caught the eye of her husband, carl. they met when they were just kids. >> yeah, she was 16. i was 19. >> wow. where did you meet her? >> splendora, texas. she was working at a little hamburger joint named the bionic burger. i said, well, did i know i was going to get a wife when

i'm carl quintanilla session high here up 377 on the dow. stocks are having a nice bounce on some renewed optimistic about reopening the economy in various states of the nasdaq closing in on going flat for the year oil is up on signs of gas repairing. a general believe in a third quarter rebound has some exists warning too much optimism too early. for that we will turn to steve lease man. >> carl, good morning. the rapid update does indeed show this historic, unprecedented second quarter decline. a third quarter rebound. and i want to talk about that. the third quarter rebound is even more ingrained. stocks trade on this idea after we get through the second quarter, you will have a third quarter rebound. down 34% after minus 6%. up 16% in the third. up 12% in the fourth 7% in the first quarter. not enough to make up for the year where the average of our 11 economists is 5% decline but take a look now at a bunch of outliars. they are contrarians on the street on this third quarter rebound. the q3 rebound bears bank of america, minus 1%. rsm u

>> carl, your guess is as good as mine. what really, you know, when i look at the market today what i see is a market that's basically saying, hey, there's a real chance this is as bad as it gets if that turns out to be correct, then we know what the answer is, right. the real question is, is that a realistic assumption when you listen to medical people they don't think so what do they know about the market and the economy i don't know we'll find out but it seems to me that there are business models out there and almost all of the ones that are based on, you know, either the gig economy or on some very clever repositioning of the old economy the way wework was set up, those are going to be deeply stressed and you may not be anywhere near the bottom if there is a second wave and if we don't have a vaccine. >> yeah. >> early next year but that's anybody's guess we don't know. i don't know how you make a bet right here i think everybody has to look at their portfolio and say, how much risk am i willing to take right now stock

you so much.nk we will get back to carl weinberg shortly. coming up, a conversation with guggenheim cities cochairman. don't miss that at 8:30. this is "bloomberg." ♪ tom: they made a horrible mistake -- pres. trump: they made a horrible mistake. they did not want to admit it. i think it will be very conclusive. it could have been stopped on the spy. they chose not to do it or something happen. either there was incompetence -- they did not do it for some reason. >> doesn't it change your relationship with president xi? pres. trump: i had a very good relationship. this virus should not have spread all over the world. they should have let as and other people in other countries go and put it out. >> are you considering new tariffs on china as one of the punishment for their handling of the virus? pres. trump: it is the ultimate punishment, i will tell you that. president very assertive last night over at fox at the lincoln memorial, really quite something. and all of it devolving back to a global reaction to china. there is no one better to tal

and the carl moyer program grant will fund up to $2,746, 298 and the airport will fund $3,650,397 of the total project cost. per the carl moyer program. , the grant share is up to the total cost, and the total cost, which is is shown in table one on page 11 of our report includes items that are needed to complete the project but are considered ineligible for grant participation, including software and police staffing and construction contingencies. they are fully funded by the airport which is matching funds equaling more than 50% of the total project cost. according to the airport staff, the california air resources board and the bay area air quality management district have indicated that the covid-19 health crisis has not impacted their carl moyer program grant funding. grant timelines or the milestones. the airport does not anticipate covid-19 to have an impact on the scope of work, however, a significant delay in when contractors can return to work due to the current covid-19 shelter-in-place order may impact the completion timeline under the carl moyer program grant guidelines.

carl, back to you. >> all right bob, i will take it. thank you. >>> meantime stocks surging this morning as optimism over reopening and hopes for coming back seeing bolster the major averages tech continues to lead other sectors higher during the pandemic i should mention the dow is at session highs led by raytheon, goldman sachs, dow chemical, among others john blackledge of colin joins us now let's talk some tech, john what a market we're in right now. i was looking at the chart, a six-month chart, and if you were to show me that six-month chart of the stocks you cover but erase the dates and prices i would think you were showing me october 2018 through march 2019 with that christmas eve low. we know that's not the case. the economy has been dramatically impacted here so what are the risks? >> yeah. so when covid happened we started to do a bimonthly consumer tracker survey and we're seeing some mixed things from the consumer, so the consumer would be like a key risk for a lot of these platforms. while in our mid-may survey consumer i

carl icahn, a large shareholder there.red from a revolving door in terms of management that has not helped it either. its competitors, avis and enterprise, the private enterprise, which is the largest rental company in the country, not easy times but not having quite as difficult a go of it as hertz is >> incredible. how quickly some of these companies just got hammered. norwegian is holding in there, doing an equity deal i think it's just breath tatakig to see what happened with travel and leisure. i go back to that becky quick interview with warren buffett, he bailed on those airlines. travel and leisure versus internet advertising versus staying home and ordering furniture, great suddenly everybody likes the oils because the analysts can't resist they have to recommend them. these are roach motels some of them well run. if you really need to own oil, just buy chevron if you have to buy one, just buy it they had a great quarter if you just are itching and itching, don't buy a bottom fish, buy chevron. buy the best leave

i'm carl quintanilla with david faber and jim has the morning off. you'll see him tonight powell set to make some comments this morning we'll go there live. the futures coming off off the late-day selloff let's get to steve liesman with some of powell's remarks >> good morning. jay powell will say that the path ahead is "highly uncertain" and he sees significant downside risk to the outlook. he is concerned about a prolonged recession and a possible weak recovery if the government doesn't get the stimulus and the relief correct. he says additional relief may be needed beyond that what is already done concerns that liquidity problems could turn in solvency problems. policies should address a range of possible outcomes additional fiscal support, he said, can avoid long-term damage the coronavirus crisis, he says, raises those long-term concerns that he was talking about. the u.s. response to that point he says has been swift and forceful the fed has acted with unprecedented speed and force. he cites a survey that shows in the month of march, 40% of hou

good morning, meg. >> good morning, carl.he world's largest cancer research conference kicks off today, and this year it is virtual. we're joined by bristol-myers squibb ceo, giovanni caforio thank you for being with us. it's a different format for the meeting this year. all of the information just being posted online. help us sort through, from your perspective, what is the most important update from bristol-myers at this meeting? >> meg, thanks for having me it is an important conference. it is my 15th, and the first time we have had a virtual meeting. it's really important to have this meeting we know that the oncology community has been impacted significantly by the covid pandemic we know that over 50% of patients have challenges accessing health care today. so bringing together scientists and researchers to continue to advance the science that patients need at this time is really important for us, it's an important meeting because we're showing the breadth and depth of our pipeline we're presenting a lot of really exciti

>> carl, i don't know that it's temporary. what i know is that the pressure is off right now and the question is, when does it come back and does it come back it seems to me that amazon, in particular, has behaved in a way over the last few months that is likely to ncrease the regulatory pressure downstream it's not so obvious to me that that pressure comes back to facebook and google the same way that it was building before. we'll have to see. it's just an unknown but obviously regulators today, they have bigger fish to try and they're going to focus there. that's going to give these guys tremendous freedom, and their stock prices are currently reflecting them. >> i wonder what you think about the goings on in amazon, it's been a week in terms of news flow you had the state ag here in new york saying they're going to probe some of these work and labor relations in the company just today we're hearing that a worker died of covid that was working the staten island warehouse facility and then you had the aws engineer that quit l

hi, rick >> good morning, carl.w, as equities start to get tired but they had a nice big move from the lows, obviously april was a good month. may is different however treasuries, kind of the same still up a little bit in the long end, down a bit on the short end. that's been the way lately if you look at a two-week chart of ten-year note yields, here's what i want you to pay attention to when markets give you tells of where they like to trade and they're comfortable, you make note you really make note when they move out of their comfort range. this two-week chart, 60 to 62 basis points we want to watch those high frequency areas as we move away from them or remain inside them. and if you look at the hyg, the high yield etf that the federal reserve said hey, i think we may buy that some day, everybody flocked there. they have not gone there yet there's a lot of debate as to whether they'll go there at all, meaning the central bank, the fed. that's a february 1st chart. we had a lot of volatility in february and marc

carl miller has been involved in the investigation, he's online now. hey, carl. how are you doing?all kind of come across the infodemic in one way or another, we've seen posts that have been forwarded to us, but the interests and ideologies are much less visible underneath it. so we joined forces with a counter—extremism think tank here in the uk called the institute for strategic dialogue really to try and understand how these social media posts which rubbish science, which spread conspiracy theories, which blame minority groups, how they spread and something of where they come from and the agenda which they're really pushing. so this study is ongoing, isn't it, and you're going to look throughout the study at different groups and how they're involved in the misinformation and why, is that right? we started with the far—right, because there's more evidence tying disinformation to the far—right than any other group, but they're by no means the only people that do this kind of thing, and in the weeks ahead we will look at the far—left, at radical islamists, of course states, to see

carl miller has been involved in the investigation, he's online now. hey, carl. how are you doing?nd of come across the infodemic in one way or another, we've seen posts that have been forwarded to us, but the interests and ideologies are much less visible underneath it. so we joined forces with a counter—extremism think tank here in the uk called the institute for strategic dialogue really to try and understand how these social media posts which rubbish science, which spread conspiracy theories, which blame minority groups, how they spread and something of where they come from and the agenda which they're really pushing. so this study is ongoing, isn't it, and you're going to look throughout the study at different groups and how they're involved in the misinformation and why, is that right? we started with the far—right, because there's more evidence tying disinformation to the far—right than any other group, but they're by no means the only people that do this kind of thing, and in the weeks ahead we will be looking at the far—left, at radical islamists, of course states, to see

i'm carl quintanilla with sara eisen and david faber.&p 3 k hanging in down a touch from yesterday's highs but still some pretty good action with the exception of some of the names that have done well under a stay at home paradigm the netflix and amazons of the world giving back financials doing quite well as jpmorgan returns to 100 for the first time in more than a month. >> yeah. first thing you look at it is stocks like carnival cruises or united airlines which are higher tech lagging that's the theme over the last two days joins us this morning, jamie cannahan and keith learner as we've seen the markets surge and we see the rotation from growth to value, what are your retail clients doing >> well, they've been somewhat similar in the fact that they've been primarily in stocks that are more conservative most of the time we're starting to see a little bit of them go out of it it's been a consistent pattern really since this crisis started. and that is investing in stocks that are more dow-like have plenty of cash to withstand any longe

look at oil, carl. we're above 30 now we're in the 30s, up almost 10% on crude >> remember the last contract expiration that did not go well, jim. june expires tomorrow. you have production cuts that seem to have happened faster than some people thought obviously a huge return to driving. all the mobility data bears that out. 32, right? we talked about the three handle last week. >> they did turn the spigot off. i asked mike worth the ceo of chevron, by far the best oil company i believe and it's done well, why didn't he go down there and bid $2 for it. it moved too fast, it's not what we do he said. but this time there will be companies that have storage space who will -- if it gets down like that, they'll snap it up i think they'll just go around the tanker they'll rent any tanker. they'll rent a princess tanker not really a tanker. >> how about the saudis disclosing stakes in boeing, facebook, city, disney, marriott, berkshire -- this is all going back to march 31st >> they were bottom fishing. i tho

hey, ylon. >> hi, carl. tech companies are just getting slammed from both sides of the aisle in washington today on the white house's executive order on social media pelosi called it a distraction and she also had some choice words for both twitter and facebook on twitter pelosi said that company had not gone far enough in fact checking the president she said its actions have been selective and she called the current situation outrageous meanwhile on facebook, pelosi criticized its interest in making profit. she says the company only cares about making money, particularly at a time when everyone is so reliant on these social media platforms while folks are in isolation. she said that all they want are tax cuts and no regulation and she said that, quote, there is no honor among thieves now clearly the tech companies would beg to differ, but it shows just it also shows the tech lash in washington is still alive and well this was the very first question that pelosi was asked this morning. back over the you. >>

minnesota increased testing 65% in that same time, carl. i think the cases thing is difficult because when you increase testing, you would expect to also increase the number of cases that you're finding. hospitalizations for me are a real issue because that should be a rate that's relatively the same before and after, regardless of how many tests are being put out there, who is being hospitalized with covid-19 symptoms >> yeah. it's so is true, jon why we're seeing more charts that are positives per case per test, in other words, different ways of slicing the data as you mentioned san diego is among the cities that are starting to reopen having already allowed some residents access to beaches, despite some warnings from the governor we're joined by san diego's mayor, kevfaulconer. >> thank you for having me. >> what's going to be open and to what degree book stores, florists, sporting goods, but all curbside? >> all curbside for now, and, you know, from our standpoint, one of the things we're ready to go in san diego. we've been working on

let's get to rick santelli >> hi, carl. yes. the treasury market continues to focus on a lot of issues obviously issuance but also the level of the equity markets and the growing chorus, you heard mr. blankfein today gives a whole new meaning to heard on the street if we look at a one week of note yields, unchanged on the week. the further down the curve you go, you see a rise 30-year bonds right now on that one-week chart, up four basis points on the week it's not a lot and they've been relatively contained do remember the central bank is buying a whole lot less with regard to quantitative easing than several weeks ago that is a big deal hyg, this etf reflects the high yield investment camp. look at this chart up close to 3% this week on the dollar side, the dollar index is up a bit today. it's sort of held at 99 area, as you look at a one-week chart, we are down three quarters of a cent because it closed so strong last week. these over1 100 closes are rare and there's talk about china, supply chains, what's going on with hong

certainly we've had -- oh, go ahead, carl.ay one of the other focuses and certainly we've had your predecessor on to talk about in multiple times in recent months is ventilators and production, what are those numbers looking like as ramp up continues and what does demand look like as not only medtronic but a number of other companies continue to develop these types of products even as numbers in places like the u.s. begin to come down? >> well, we're very proud of what we've been able to accomplish in a short period of time regarding ventilators in a number of areas and they've played an important role fighting this nasty virus. a couple comments. one on production, we are on track to the commitments that i think omar shared a couple weeks back in terms of taking up our internal production 5x by the end of june and we are over 600 ventilators per week as we sit here today and we'll be over a thousand a week by the end of june which is five times more than when we started in january. but on top of that, as you know we open sour

let's get to diana >> hey, carl pending home sales in april fell 21.8%.h wider than expected. and we're down 33.8% year over year now, these pending home sales represent signed contracts people out shopping in april there are forecasts of what may close sales will be. in the northeast down 48% for the month and down by 52 % year over year. also very big drop in the west down 20% for the month and 37 % annually all this said, the realtors seem optimist optimistic they expect this to be the bottom for home sales. we saw that in newly built homes. they're saying may will be the bottom for closed home sales and they're revising their forecast for 2020 slightly higher to just an 1 1% drop in sales and prices up 4% annually so a huge drop in april pending home sales not only the largest one-month drop annually but also the lowest level of this index since the realtors began tracking it in 2001. but signs things are already coming back. sara >> diana, thank you. we'll begin with today's market action that's just the latest data point. the dow and the s&p 500 ext

there you go, carl, graduations.'s still hope >> you know something about that, david, that's for sure >>> speaking of reopenings, warby parker starting to reopening its doors after a full shut down in its doors dave blumenthal will hop on in a couple of months but neil, good to see you >> thanks for having us. >> sounds like you've got at least a week or week and a half under your belt on some of these modified reopenings. can you talk about how it's gone >> sure. so we've completely revamped our protocols, obviously controlling traffic into the stores to make sure we're social distancing, ensuring mask wearing so we have masks available for our customers when customers come in, and the store is full, we have a text-based waiting list and we also encourage people to download our apps so they can use their virtual try-on while waiting. the nice thing about a text-based waiting list is it enables people to go on with their business and not congregate outside the store which presents a risk. but sales are definitely de

carl hopkins, alaska reporter won that on monday. he won that for a 17 story series called lawless about the public safety crisis in rural alaska and the horrendous issue of sexual assault and domestic violence in our state. as we all know we are confronting a pandemic in our country. i live in a great state, but we have a lot of challenges, social challenge like a lot of states. we are confronting this pandemic nationally. my state has been confronting an epidemic of domestic violence, sexual abuse that has been going on for years, decades, generations. kyle's series combined dog reporting, meticulous fact checking with the utmost sensitivity that a subject like this requires. not an easy task. it was according to the pulitzer committee riveting public service reporting but it was so much more than that and i tell you it was very important to the state of alaska so let me tell you about our alaskan of the week, kyle hopkins and what made them qualified to write this series and why it had such an impact and i believe beginning, maybe

and thank you, carl.d like to welcome professo ken rogoff, thank you for joining me, these are trying times, of course. >> indeed, thank you for having me >> listen, today's a big day we reintroducing after decades of absence a 20-year bond but it underscores the notion of debt last thursday, the fed's balance sheet was approaching $7 trillion, i believe the exact amount was 6. 3 trillion on their balance sheet. and we learned when we had treasury secretary steve mnuchin on, the cares act, only 8 to 9% has been spent and we're hearing for the need for more. as a man and a great economist who's written much about debt, even with the coronavirus issues are we ahead of ourselves? are we over the skis on debt >> we're only two months into this, and it's probably going to get a lot worse. i think we have to support americans, we have to support the economy. i don't know where this is going. but we're down 25 or 30%, we're hoping we're coming back now, i don't know how much. and this isn't quite the time to wor

carl, people are concerned the stock is down. they do these things they get to sales, but are they making as much money this is something i'm going to bring up with brian cornell about target terrific, these numbers are up 100%, 200%, but you're not making as much money as if people went inside the store that's what's hobbling best buy. i think they're creative and they did a good job, but that doesn't mean your stock goes up. >> it brings to mind what's macy's said. a billion dollar loss, preliminary, versus a $200 million profit a year ago. department stores are a different model, jim, but they even said, demand was moderately higher than they thought it was going to be. >> and they're still going to close some more stores i think the issue with macy's, is the big flagship store, you have to have tourism, a weaker dollar there are things that have continually worked against them. also, you need parking to be able to pull up. that's an issue with target. people were saying, hey, you don't have enough parking to do your pull-up s

i don't know, what's the full number we're up to at this point, carl? >> it's 33.5 million over i think seven weeks so you tack on another 3.169 million this week. there's the opening bell eric millen is the nyc facility supervisor at the nasdaq ringing the bell remotely. it's, again, limited a software provider celebrating its ipo. we have to talk some media viacom subs up 50. best month for streaming so far. this new deal with youtube that was a double-digit gainer premarket. >> yeah, the stock is opening up about 12% this morning of course, it has been nothing but pain for those shareholders as we know well and they know well really, ever since the deal was announced and the cash flow numbers have come down this was a good quarter for viacom, at least based on the expectations as you point out, they did generate almost half a billion in free cash flow. very different than last quarter. the advertising, you have to take the super bowl out for the comparison, the same way you have to take it out for fox because fox had it this year in this quarter and

you do hear the other thing -- go ahead, carl, sorry.going to say, speaking of the consumer effect on things like travel, royal caribbean comes out and says bookings for 2021 are within historical ranges, which i guess is a surprise to some. and norwegian talked to jim on "mad money" last night take a quick listen. >> we expect to sail sometime in 2020 it would be irresponsible to give you a specific datement we have to gain clearance from the cdc and other government agencies we're working hard shoulder-to-shoulder with them to develop enhanced protocols of every kind you can think of. >> so, david, didn't mean to step on you. royal caribbean up 4% off of a much lower base than prior to the crisis >> and norwegian cruise lines, only a few days earlier they were talking about concerns, and then able to raise 400 million bucks at only 7% coupon, it looks like they may be in much better position that whipsawed people as well in terms of the performance of some of these stocks. one day you're giving concern warnings, two days later you are

i'm carl quintanilla with morgan brennan and jon fortt. lot going on as we begin the month of may obviously as lot of white house commentary we talked to larry kudlow earlier this morning but amazon and apple are the two big earnings stories and on the plap front we turn to josh lipton to start the hour hey, josh. >> as we know millions of people are now working and learning from home. i got the chance to speak with apple ceo tim cook and asked about that, how is that impacting business, how is that impacting demand for his products and services? cook telling me, it's clearly helping the ipad and the mac we envision both of those to have improving year over year performances in this current quarter. what we see is that the use age of face time has gone through the rife, not getting talked about as much, but the usage says otherwise i asked cook about the new iphone, the se that comes with th

good morning >> hey, carl that cnbc as well. we have matched that headline that uber has made an approach to grubhub and this is according to a source familiar with the deal as you said the stocks of both companies are surging and that sound bite fromdara, the ceo o uber, is a glimpse of what they've been saying over the past few weeks uber eats is seen as a strength as ride sharing falls off a cliff. uber eats last quarter grew 50% but i would remind our audience uber eats is losing money. ride sharing is becoming more profitable uber eats isn't there. it lost 300 million in terms of i adjusted ebitda last quarter it is seen as a bright spot amid the covid crisis uber has said they want to be the number one or two player in a market in which uber eats operates there's discrepancy between the data second measure which we use often puts uber as number three in the u.s. market a combination with grubhub would certainly vault it into even the number one place, i believe, ahead of door dash. it would be a step up. remember that grub

i'm carl quintanilla with jim cramer, david faber live from separate locations futures are red. the bears can pick their poison today. retail sales down 16.4 china tensions, as the u.s. moves to cut huawei off from u.s. tech. some states that have opened like texas, showing record high daily case load. it was the huawei news that took the wind out of the sails of futures earlier this morning >> yeah. i'm not saying it's unexpected a lot of the chip companies i know have built in the fact they won't get huawei business. i think the thing that scared people and is scaring people is that retaliation comment that mentions boeing. did not mention apple, but apple is acting terribly did not mention applied materials. had a great quarter, stock reversed badly it's a surprise. i don't understand what's happening with boeing. you have this -- you have the ceo, who is blasting the clients, then you have china who doesn't want boeing, and a queue for boeing planes that is dissolving i don't like anything i'm hearing about boeing nothing. >> you mentioned the editor for the global times, he

>> i don't know, carl. i would point out daily mail, be very careful not quite sure what the benefit to amazon would be i almost could see them buying amc networks before i see them buying amc the movie theater chain. i will reserve judgment on that story. they have got some issues, we know that. given their indebtedness that's a key point of everything going on now, if you come into this crisis with a lot of leverage on your balance sheet, you really need to figure out what to do about it, which gets me to one of the larger deals that we've seen in some time, certainly in private equity. it brings together two of these trends a levered company and private equity looking for an opportunity. talking about cody, the beauty company, which reached an important deal with kkr. kkr will buy 775 million of a convertible with a 9% coupon right away to help them. but then also entering into an agreement, memorandum of understanding right now, but i'm told they will get to a definitive agreement shortly to sell 60% of

thank you carl. condi rice was there.t think, you are off at the president i think it was the same experience carl had only more serious. on the way there there was a bunch of cabinets along the way. you watch the secret service opening the cabinets and grabbing very large guns and passing them on. it's like a movie. when the day was over i did take note sunday. at the end of the day we flew in a helicopter to camp david and when you lifted off the south lawn you could see the pentagon you could see the fire burning and i couldn't help but think of the burning of washington in madison's time. washington of course that was just a small village and this was a much greater consequence. it certainly is a day lodged in memory. >> what was it like after that? because you go to an undisclosed location but. >> think about that for a moment. think about that for one moment. the decision is made that the threat is so unknown and so dangerous that the president and the vice president of the nurse it cannot be the same place unless a

carl, your thoughts on that? >> if trump had it in him, which we have never seen yet, to truly do something, to try and unite this country, but he doesn't have the credibility anymore. he has lost his credibility by trying to divide this country at every turn since he became president. and who has been the victim more often than not, as he has divided us, it has been people of color. it has been immigrants. it has been those who find it most difficult to help themselves. and his response to them is to go to his political base and fan these flames that i referred to before. this is a time that other presidents, whether it's fdr, lincoln, washington, the three greatest presidents by general consensus, they knew how to pull this country together. here we have a pandemic, unprecedented in our history, 100,000 dead, and throughout, the president has been going after his political enemies, saying that he doesn't bear nip responsibility. trying to justify his own absolute -- let me use that word again, dereliction, beca

. >> yeah, good morning carl this is the kind of thing that fed chair jay powell was worried about the numbers keep going and the initial round of jobless claims that happened because of the shutdown we have kind of an economic related series of jobless claims, nearly 3 million more than the consensus, down a bit from last week but maintaining a relatively high level. total jobless claims over the past eight weeks a stunning 36.5 million and the insured unemployment rate which we'll look at in a second looks at the percentage of eligible employees who are receiving claims, that's 15.7%. sort of a proxy, this is old data a week older than the other data for the unemployment rate looking at the chart you can see it coming down tick by tick but leveling off and we'll hope it keeps coming down in the weeks ahead. let's look at the states with most claims. california, 28%, michigan 23% of those who are insured or eligible for unemployment

carl, i'm watching disney this morning, it is down. watching the stock action, also down pinterest, yelp, lyft and uber and those would be stocks that would benefit from things being safe to open up sooner maybe this morning's trade thus far has been on the idea that maybe things won't go as smoothly as we were hoping at the end of last year and following that idea, well, what's up, zoom is up, amd, shopfy, nvidia, stocks that would be categorized as stay-at-home stocks, companies that benefit from people using their computers, using broadband and video conferencing, something like that. maybe that's what's driving the trade for the morning thus far we'll see where it goes from here, morguen. >> that's exactly why the nasdaq is positive, albeit just above the flat line as the quote/unquote stay-at-home stocks, and worth noting that the small caps, the russell 2,000 is underperforming down 1.5% where the nasdaq has sort of become the stay-at-home stock shut-in index, if you will, because of all of those tech names that are levered to th

i'm carl quintanilla with jim cramer and david faber futures are steady coming off the best day since april 6th s&p at the highest since march 6th as the tension does turn to walmart earnings and the hill. the fed chair and the treasury secretary in front of senate banking virtually, that starts in about an hour june oil expires today up for the fourth day in a row the discussion revolves around those levels you were talking about with joe, andrew and becky and the degree to which walmart can post a 74% increase in e-commerce >> it looks like the big guys won. you basically had them cordoned off as essential services. so many other companies, little companies, medium, small, just couldn't compete this is what happens when you have a survival of the fittest economy. this is darrwin playing out. these numbers are astounding if the stock had not run up every day, i wouldn't know what to do. add back 60 cents for home depot and -- before you start selling it that's the costs they said -- home depot had to keep traffic back they had to hold back traffic because they were trying to do it sa

carl said.economic lesson, a perfect example of the science of incentives, if you leak hitting the disease through freedom, people get the disease to be free, this is how it works with all incentives. kat: live free or die coughing, that was a movie by the way, bruce willis as general john stark, people will do that. plus people who are in jail, this is obviously something that endangers the community and people that work in the jail and go home to their families, i'm not saying everyone because i'm a libertarian so i think people have nonviolent, drug crimes, they should not be in their but a lot of people in jail may not care so much about the community at large, they may not be wanting to get out so they can continue to volunteer at the nursing home on a weekend, some may be, i don't mean the ones who wanted chance to steal grandma's terminal whether in their but it's not surprising that whatever they did to get in jail, they take a risk saints grew the community, screw the rules but they sal

my says carl, carl, oh, husband. she says -- the fbi says they are staying here. she says, the jig is up, it's the fbi. your clothess, get on, he gets a machine gun, comes to this door, opened it slightly, leans out, grins at the fbi and starts firing machine gun bullets out of the store. the police and the fbi start firing back. this door is chewed up by bullets. john dillinger, not a master criminal, not a single bullet from dillinger's gun hits any fbi agent. but one bullet from the fbi and the police's gun hits dillinger in the thigh. incredibly, john dillinger has escaped from the shootout. he lays down fire, and comes out this door. dillinger was wounded in the leg. here, stands you're holding a submachine gun in one hand and a gun and the other and tells his girlfriend to get the getaway car. the most wanted man in america is standing here, bleeding like a stuffed pig. sees a man whoor he recognizes as john dillinger, reaches under his bed, takes out a shotgun and aims it at dillinger. the kid is seconds from becoming the boy who killed john when his mother

>> carl, that's right. disney announcing it's proposing reopening the magic kingdom on a phased way july 11th and starting to open epcot on july 15th this is part of a phased plan. they're presenting it right now before the orange county committee in charge of reopening. it still needs to be approved by the governor but it's key to have the date of july 11th and 15th they say they'll implement capacity, procedures around social distancing, temperature checks, mandated masks we'll talk about this and more with bob chapek coming up later in the hour and we'll hear what they're planning to do in terms of next steps to the park. back over to you. >> that's a big deal looking forward to it. we are having some technical difficulties as you might have heard we hope to have wamsy back and in the meantime, anthony foto will join us on the other side of this break and then bob chapek >>> welcome back we're getting some breaking news from boeing. looks like more action is being taken around the workforce. >> remember

. >> thank you >> carl? >> we'll see you this afternoon on "closing bell." >>> good morning, welcome to "squawk alley. i'm carl quintanilla with morgan brennan and jon fortt coming to you live from separate locations. we did have a bit of a bounce at the open largely due to boeing but settled back a bit, the markets having to handle all kinds of things. the data flow, claims no good once again, but pmi and philly fed did show some sequential improvement. more china rhetoric this morning. we're looking at the structural shift in share in retail jon, it's been argued that market is getting a little tired going into a long weekend and the 10-year back to 66 basis points, of course we had 74 earlier in the week sort of reflects that. >> it does indeed. let's talk about it. they join us now to break all of that down. good morning, guys. >> good morning. >> tobias, your target for the s&p in june 2021 just a bit higher than where we are right now. 3160 given that, how should investors be positioned? is it just a m

hey, steve. >> good morning, carl. yeah, we're wondering whether powell continues a cautious tone, much more cautious tone than the market seems to embrace and in a way his cautious tone seems to give the market a green light because it means more stimulus or the fed being around for a long time here among powell's concerns he's expressed in the past that the employment and growth rebound could take longer than it anticipated, some businesses won't survive the downturn, a possible second wave of the virus and the stimulus will run out and think about more stimulus on the other side you can see the effects of the stimulus carl alluded to in the income and spending numbers this morning. quite astonishing. every one of the numbers you're about to see are historic, never been there before. 11% month to month rise in income we'll tell you why that happened in a second. 13% month to month decline in spending 33% savings rate what happened on the income side very simple, a huge decline in wages and salaries, $740 billion down

i'm carl teent ania with jim cramer and david faber futures are red as jobless claims are another 2.9 million that brings the total to over 36 million. nasdaq is back in the red. oil, interestingly is higher the out look has improved somewhat but jim, obviously, both yesterday and today, the market really wrestling with the timing, the pace, the safety of this economic reopening. >> right i think that at this point, we know that the v is off the table. the struggle here is whether we have a u-shaped recovery or whether we don't have a recovery and i keep coming back to there are two things that can happen you get a vaccine, and you'll have a vee you don't get a vaccine and you'll have an l and i think on days like today when you see the unemployed numbers, you say to yourself, without a vaccine, this is going to be a very, very long slog, just like what chairman powell said yesterday chairman powell is giving you the straight stuff and this number should not be a surprise to people who listened to him yesterday >> when you think about a vaccine this week, jim, we have heard promising

i'm carl quintanilla with david faber, sara eisen, live from various locations.a bit of a tight range dow did pop at the open up 160 but settled back as we await dr. fauci testifying in front of the senate this morning in just a few moments, along with the heads of the fda and the cdc, all remotely, even the senate chair of the committee will be remote as well sara, interesting cpi number of course the month on month drop, the worst ever, but men's suits down 11, and then you got eggs up double digits. some fascinating price action within the cpi this morning. >> yes, the only places where prices are rising are at the grocery store, that's obviously painful for the consumer, but the picture that was told by the inflation data is that deflation, at least right now, is the risk, falling prices, which corresponds to an economy that's in recession. the high job losses and the collapse of wages, and that really is something that the federal reserve and other policymakers are trying to get in front of by lowering interest rates and trying to stimulate demand once it co

donald trump is not going to listen to carl rove. donald trump has shown over and over again, he listens to one person and that's the voice in his head. >> eugene, you've got to admit, the guy has a way with words. eugene, let's talk about polling. we try never to cast aspersions on polling because good money and intentions go into them no matter who has the poll in the field. a ton of people looked from the cnn numbers today, battleground states and didn't believe them. what do you make of it? >> well, look, the numbers the cnn poll had from the battleground states don't agree with the other numbers we have had from battleground states and so that's why people look at them with a certain skepticism. every once in a while, the best of pollsters have been an outlier poll, and so this may be that. you know, i don't think you've dismissing any poll. and you go back and check in your state. but very quite consistently polling to date, at least, has shown president trump in trouble not only nationally but especially in those battle ground