stooefr with the la >>> coronavirus has hit kohl's pretty hard. down nearly 8% down a little less than 7% after reporting losses across the board and with holding the same key store metrics. kohl's will suspend its dividend we have a very special guest >> thank you very much i want to welcome michelle to the program. obviously, it was a tough quarter. you've got nearly 1200 stores and they were closed for half of the quarter. of course, it's no surprise you saw a tough sales number down 43.5% even with the surge in digital it's not enough to make up the difference you have about half of your stores reopen. i think every one wants to know how are shoppers feeling how are they reacting? is it back to normal or even close? >> yes, it's great to see you. first let me add a little context. this quarter was extraordinarily difficult as you mentioned with half of our stores or all of our stores being closed for half the quarter. that put tremendous pressure on our business as this unfolded, we set out to put forth two key priority, protecting the safety

down 8% we'll have the ceo of kohl's on air with us in a few minutes time as america

i don't know that kohl's stores that are tremendously based on incentives and giving away product is going survive, but i will tell you along with karen, tjx or target or even ross stores, i think the discounters are going to have their hand at any of the goods that were ordered. they're just going to pick a price and they're going to get whatever they want so if you think that costco, amazon or target are overpriced here and then they go with the tjx or ross stores and something that you think is going survive because i don't know about macy's and i don't know about kohl's >> karen, tjx is a great trade and up 15% today what do you like about the story? >> tim was mentioning being brudent and how companibru prudent and how they're spending their money. tjx is being prudent another way. >> tjx, the quarter was awful, really bad and it wasn't about the quarter. it's about what they're seeing going forward. some of them are up over last year which is kind of amazing, but they did talk about suspending their buyback and also cutting their dividend, and i think that a lot of companies sh

he suggested target could be one of the winners you think kohls could be one of those retailers that picks up the traffic because mom's favorite store is now not there any more >> they haven't announced any stores closing they'll soon have them all back. yes, they have to go some place. they are the big player in apparel right now. they can pick up a lot of that despite what some have said on air, they do a good job on line. just like macy's does on linline the question is will it all really go off to tj maxx or ross or to kohl's i'm saying 20% of mall stores will close there is almost 1,000 malls. about 300 to 500 will have to be reconfigured somehow >> quickly, do we have any indication about, quote reopened retailers and malls are doing. i know you are a guy that probably likes to get in his car and go see these things? any indication of foot traffic >> i was at costco and home depot this weekend they were going crazy. we certainly see people back out shopping if you look at the mall based retailers, they are opening 10% to 17% of last year's volume on the same days. so running ab

appreciate your thoughts he mepgsed kohl's and coming up tomorrow on "power lunch", we'll speak with michelle gass, the ceo of kohl's. >> so when you go and make your weekly trip to target or any stores like that, do you order ahead of time? >> no. it's contingent so i go to target because you should see the boxes of diapers and formula and food packages. okay and i'm trying to find a new sippy cup. i need to look around a little bit. >> you need to browse. and what i find in stores like that is you always come out with a lot more than you thought you were going in to get we'll see you tomorrow thanks for watching our breaking news coverage which continues now into the final hour of this very powerful rally day. up 90 point 0 points on the dow. >> thank you welcome to the closing bell. i'm wilfred frost along with sara eisen s&p jumping more than 3% let's have a look at what's driving the action hope on the vaccine front. we're not out of ammunition by a long hot those the words of fed chair powell as he says there's a lot more fed can do to help th

i mean depot was open and kohl's was closed difficult to say one did well.epot did well staying open during this difficult time was just incredible for those guys doing it and if you went by there and i did several times, they were busy people were shopping you go by kohl's and they're close closed so it's difficult to say kohl's had a bad quarter. bad financial quarter but we won't really know until they get open and start to gain traction again. >> none of these department stores have had a major e commerce success story like what we're see iing from walmart so even though walmart was allowed to be b open and kohl's wun wasn't, it's not like people were going directly online and shopping other brands like nike had to close all its stores and got a huge surge of business in online >> sure and i think that will be a big learning those retailers that adapt and bring their brand to the customer in whatever form they want to deal with and develop a digital business will be successful and if you can't, it's going to be hard and i do think this last couple of mon

maybe 35-40% home depot however, we also hear from nonessential retailer kohl's we're not going to like what they have to say not only has kohl's had to shut down stores but fedex has capped service to these guys. given that kohl's used to handle amazon's in-person returns when they were open, losing that fedex status is a problem. of course, they are finally opening stores which is good news and i'm sure they'll talk about pent-up demand and i'm sure there will be buyers coming in i'm sure it's going to rally and there will be some sort of short squeeze. you know what? sell okay that's your opportunity. take it. wednesday, two more essential changes. again, that means they were allow today stay open. and these are target and lowe's. we know target's crushing it with online business i'm urging you not to focus on the margins. as for lowe's, we need to keep hearing about improvements in their digital division maybe a great start to their gardening season, which they used to own, by the way. and that would be enough for the stock to work. after the close, take two interactive reports. thi

the reason why i said what i said is that on the 13th of june 1909 gorbachev effectively told helmut kohl that he the soviet union would not oppose german reunification that the communication of that information to coal in the gardens of the federal chancellor a says it all because once the soviet union let it be known to west germany that it would not oppose east german rain if occasion then the entire house of cards could only collapse of course they were popular discontent i would never dream of suggesting otherwise and i certainly didn't suggest otherwise what i would say though to harold james is that those previous expressions of popular discontent including in poland was suppressed by force they were suppressed by force in berlin in 1953 in prague in 1968 in budapest 956 and in poland in 1901 we all know that the decision was taken by gorbachev to stop that policy to abandon the british and doctrine and once he did that the whole thing unraveled and that seems to me to be the cause of everything harold you want to respond to there go ahead. yes i mean i do think that is right there

i don't feel strongly that kohl's stores has a bright future going forward, but i'll throw another one in there that i didn't talk about. costco remember all of the pushback on this who needs this many paper towels who needs this much water? who needs this much toilet paper? we found out who needs that and they were the original bulk buying machine and people will not stop their behavior there and just to go full wrap on everything that he commented on and you have aviation, power and healthcare, i hope they start breaking it up because it was starting to which back on its own, but i think with this pandemic, this is a lot of headwinds for them to survive the way they are right now. >> all right coming up, california governor gaffin news gavin newsom and he's calling for a $1 trillion pandemic relief package and his efforts to reopen california and elon musk's threats to leave the golden state beyond meat, why the sck ctoan rise another 25% from here "fast money" is back in two. >>> welcome back to "fast money. california's governor making some big headlines today, gavin newsom and his

different story when it comes to kohl's. they are suspending their buyback, and they also don't have any visibility for the rest sales year as they posted down by 43% year on year. really the have and have-nots of the retail landscape. coming up, much more of your morning news, trade and analysis of the markets in today's first take. this is bloomberg. ♪ ♪ now for bloomberg first take. want to give you the news, you get the trade and analysis of the market, as for my daughter gives me her morning hug. going us to discuss is michael mckee -- joining us to discuss is michael mckee, and kristine aquino joins us from europe. with what we are hearing from walmart, comp sales up superstrong. people buying more online and buying more when they actually bought. so as you look through the bulk of earnings season and evaluation conversation we continue to have, what is your take? kristine: there really is a lot of doubt as to whether the momentum we have seen in some companies is going to continue throughout the second quarter because

now that they discovered you can get pretty much everything kohl's carries online from amazon, some private label did they start suddenly selling more tommy hilfiger and calvin klein? we like that company they started getting construction orders. where did they come from planes and hotels, fully booked? i don't think so in all these cases i think the answer is no and it doesn't matter these beaten down stocks got so cheap they can have some modest incremental improvement which i mentioned at the top of the show you have to believe incremental improvement is what they're going to get kohl's may not be doing well, but they're doing better than when they were closed. another positive federal treasury department pumped trillions, not billions, trillions in benefits for troubled businesses and forgivable loans for businesses that agree not to fire anyone. that assistance really helps but at the end of the day, we always seem to forget we are in a recession. v, u, l, it's recession. in a recession people spend less either because they don't have enough monitor they're worried about not ha

kohl's, on the other hand, sells clothes, and they had a terrible quarter. an exact week by week break down, but people stop shopping before the lockdown started. maybe people were afraid of what was going to happen and started saving money. whenll see what plays out we reopen stores. will people go back to those stores, or continue to shop online? if they shop online, what are they going to buy? home depot, it took longer for them to shut down in some places. they have been allowed to stay open because they are considered essential, so they have a better opportunity to sell things. they do sell things like cleaning supplies that other stores would have sold. you can understand why home depot may be a little bit better as well. guy: how real is this data? incomes are being supported by government. at some point, that is going to end. at the moment, the consumer has money in its pocket. how long does that last? michael: we have seen government support, money going into people's accounts in different ways. then we have seen the saving rates rise. people spend

in hong kong after china spot to outraged with proposed new legislation that would ban what beijing kohls succession ism and subversive activity it could allow chinese security agents to operate inside the territory pro-democracy campaign is a calling it a threat to hong kong's autonomy. once again shrouds the streets of hong kong. protests rotund off to china pushed for a strict new national security law for the to. retore under cover of the corona virus. the national security law is even more damaging and harmful than the extradition bill last year introduced by the government and now when time is running out in hong kong we would describe now as the beginning of the end we don't have enough time but we still need to continue the fight. for opponent see this is the end of hong kong as one country 2 systems relationship with china the legislation that gives beijing more surveillance powers is supported by hong kong's pro chinese legislators and local security chiefs. were not of great majority. i don't think mature the hong kong people have been injured in the interest. of the. central g

shoppers will find a greeter at kohl's wearing a mask.lmart have been open and workers have had to enforce social distancing which doesn't always work with anxious shoppers plexi glass separating workers and shoppers is going to be standard macy's is quarantining inventory for 24 hours kohl's is holding returns for at least 48 hours and employees are being asked to keep track of this target current sli closed off fitting room access. gap is also closing the restrooms. macy's is demonstrating makeup application with paper so far everyone is adjusting well the department store says our customers have responded well, and we're seeing encouraging gifting trends in our survey work, customers feel confident in the new health and safety standards retail employees didn't take the jobs to be in store police officers or enforcers of public health standards it's an awful lot to ask back over to you >>> it's fascinating i had to notice that facebook said they will allow most of their employees to stay at home, work from home through the end of the ye

have been shutdown since march when covid-19 turned into a's genuine pandemic macy's, nordstrom, kohl's shined again today. why not? they're allowed to be open tech, it isn't going anywhere until micron announced midday. investment oriented tech stocks. we will speak to the c.e.o. in a few moments about why that number was so strong finally, housing is soaring because interest rates are low and people who live in cities are eager to flee to the suburbs in response to the virus this is actually got a name. it's called the counter urban trade. housing is moving away from the pack with these numbers. again, toll brothers after the close. what makes this race so hard to figure out is the stay-at-home stocks are very much in the pack, these incredible numbers from dominos, papa john's, recession-proof hanging in there, health care, here's curious. after all the vaccine hubbub, this is a bad group. finally fang is biding its time. maybe it's become a bitter disappointment something wrong? everyone seems to want to know i know how it looks. for the most part the lead horses are recovery plays.

kohl's adding a greeter.g workers to hold tried on merchandise for 48 hours and police social distancing, there's plexiglas at checkout. macy's said so far everyone is adjusting well and its survey work shows that customers feel confident in the new health and safety standards but, tyler, retail employees didn't take on these jobs to sort of be in-store police. and to enforce public safety measures this is a big ask for a lot of these workers. >> all right thank you very much. >>> and for more on the path forward for jobs, and what industries and companies are doing the most hiring in the pandemic, i'm joined by an rena novoskevi. >> hi, tie already. >> some companies are hiring, like amazons, home depots, the walmarts are there some unexpected ones out there, as well >> there are several unexpected ones especially over the last few weeks to see people talk about health care being a big beneficiary of the covid crisis in the sense of keeping jobs, looking for jobs however we saw some of biggest declines in no

but it's the opposite for stores like macy's and kohl's, whose physical properties have been shutteredbecause of the pandemic. macy's released its preliminary first quarter sales this week and kohl's delivers its quarterly results. both companies have seen their shares pummeled this year. big picture, all of these reports provide a snapshot of the american consumer. we know spending has fallen off a cliff. retail sales plunged more than 16% in april, the biggest decline ever, and even worse than expected. that's a problem, since consumer spending accounts for two-thirds of economic activity. and recovery can't happen when people don't spend. in new york, i'm christine romans. first up is this exquisite bowl of french onion dip. i'm going to start the bidding at $5. thank you, sir. looking for $6. $6 over there! do i hear 7? $7 in the front! $7 going once. going twice. sold to the onion lover in the front row! next up is lot number 17, a spinach and artichoke dip, beautifully set in a hollowed-out loaf of sourdough bread. don't get mad get e*trade and get more than just trading investin

and face coverings for employees and when time, registers guarded with plexiglass and the same at kohl's and nordstrom big changes coming to theme parks. shanghai disney is opening. more health screenings and virtual lines to maintain social distance at disneyland and disneyworld, a blueprint for what comes next. >>> now to an nbc news exclusive, an inside look at the homeland security's national bio defense lab opened after 9/11 and focusing solely on covid-19 here is tom costello with that. >> reporter: it's one of the deadliest pathogens the world faced in the last 100 years. trying to crack the coronavirus code is now the top priority in maryland in the homeland security bio defense center behind these doors, one of the most secure labs in the country. researchers in full bio hazard suits working to understand how the coronavirus spreads and infects so easily. i asked senior research scientist paul dabish about the pressure knowing so many people have already died. >> it's very great we are working around the clock because of that to try to answer questions we're being asked about th

kohl's and nordstrom each rallied more than 14%. meanwhile, the labor department is expected to report that another 2.1 million americans have file for unemployment benefits and i will be slightly less than the 2.4 million reported the week before. since the coronavirus pandemic shut down much of the u.s. economy, more than 38 million americans have file for unemployment. the day after twitter slapped fact check labels off of two of president donald trump's tweets about voting by mail, he's threatening to rain in social media companies. in a tweet he says they silent conservative voices and officials say president donald trump will sign an executive order today about the issue but did not provide details. >>> that is your cbs money watch report. i am diane king hall. >>> it is day two of the mental health live stream event called stronger than you think. the event is started to reach out to teenagers struggling with the pandemic and aims to erase the stigma of mental health. i spoke with the president of nonprofit one mind about why

but many people are impatient and a llama farm in the uk own a body shot is already getting kohl's. >>about the healing possibilities of lamas. we have had. >>well the city people in my opinion to sound up nose come they come take blood from the law to drink it. but i'm not we're not going drink a lot. >>and if they didn't it wouldn't help that's not how antibodies worked. where is the researchers in belgium as they may be running out of time as lockdowns begin to ease you look at the daily case numbers. >>globally. it's just flat is just we have a 100,000 cases every day a possible for the last month, yeah. >>it's pretty clear that the soon as we do next things with international travel is going to come back. >>walmart and sam's club employees they're getting another round of cash bonuses in june the total worth more than million. this is intended as a reward for hourly employees keeping up with the increased demand because of the pandemic it will come to $300 for full-time workers, a 150 part-time hourly and temporary workers. the bonus will apply to employees in the stores and cl

wonderful speaking of retail, tomorrow on "power lunch," courtney reagan's interview with kohl's ceo. we look forward to that tomorrow at 2:00 p.m. eastern time. coming up, we're answering your questions and you can reach us at cnbc.com/halftime tweet #askhalftime and we are back in two minutes. that's why we're expanding your range of choices. many dealers now offer optional pick-up & delivery and at-home maintenance, as well as online shopping with home delivery and special finance arrangements. so, whether you visit your local dealer or prefer the comfort of home you can count on the very highest level of service. get 0% apr financing up to 36 months on most models, and 90-day first-payment deferral on any model. across america, business owners are figuring things out. finding new ways to serve customers... connect employees... and work with partners. comcast business is right there with you. with a network that helps give you speed, reliability and security. and enough bandwidth to handle all your connected devices. voice solutions like remote call forwarding and readable voicemai

nice move for kfs or kohl's, up 7%. >>> what a contrast to the retail wreckage at neiman marcus. the luxury chain is now officially the very first department store name to file for bankruptcy protection. the name behind the famed christmas catalog struggled with billions of dollars in debt. final nail in the coffin was the coronavirus pandemic. they filed chapter 11 which means they will perhaps get protection and restructure. >>> biggest pork processing plant in the u.s. is partially back online at this hour. tyson had been forced to close the iowa plant in an effort to contain the spread of coronavirus. the closure of many of the nation's meat plants has put severe pressure on the country's animal protein supplies. but the reopening here of tyson foods, stock is up 4%. >>> payment services have a really strong pulse at this final hour. paypal hit a record high as it forecast a strong recovery thanks to a surge in online shopping. paypal is up nearly 14% right now. that same hope is powering squared even though it reported a surprise first quarter loss, moving higher by 11%. nic

let me go through the numbers and i'll come back to you on kohl's.there's walmart right now for you. maria: all right. yeah, the company will withdraw its 2020 guidance but very good numbers as you just lined them up, cheryl. thank you. the stock is up 3.5%. we are getting a closer look at the pandemic's impact on retail, walmart reporting earnings better than expected. cheryl has kohl's which we'll get to in a second on the heels of the rifle jc penney's bankruptcy as we know this week and other bankrupt retailers. joining us chief research officer dana telsey. it's great to see you again. you've been doing this for a long time on retail. when you look at the walmart resilience throughout this pandemic after studying this company for so long, what's your take-away here? >> hi, maria. nice to be here with you. i think walmart delivered great results. it's about essentials. nearly 70% of walmart's sales is focused on essentials. they delivered better than expected numbers. those e-commerce sales were tremendous. highest growth rate they've had. we thi

earlier this month, kohl's opened dozens of stores in several states.d fitting rooms and designated special hours for at-risk shoppers. >> they'd like a mask. >> reporter: back at this dallas nordstrom, employees wore masks and gloves. p.p.asva at th entrance for customers. and there was a steady stream of cleaning in every department. >> these doors aren't open. okay. >> we are limiting the number of people that are in our building. so one way in and one way out. >> reporter: and that helps you count? >> it helps us count customers in. >> reporter: at check out a shield separates customers from the sales clerk and, of course, hand sanitizer. everybody wearing masks, a lot of people wearing gloves, a lot of sanitize era round. some people would say this doesn't feel like real shopping. but is this the unfortunate new norm that we're dealing with right now? >> i think that's hard to say. we're going to be doing everything we possibly can. >> reporter: jaime nordstrom, the president of nordstrom stores explains the new normal is a moving target. >> we mig

band might do us a favor with if we actually put into focus on ideas of what is fair in our society kohl to insert a degree of a fairness just basic decency in the way that people are treated and yes i hope that will happen there have been various packages and various countries. that can apply to get money to pay for their workers or to keep their businesses open a certain period of time and those are necessarily the same thing keeping the business open isn't necessarily the same thing as keeping your workers are you finding that there are certain situations where big businesses are lack of a better term big footing really relief efforts that are really supposed to keep. the race among us employed yeah well let me sort of start by saying that we have been encouraging and pleased to see that in many countries which have the means to do so governments have been investing heavily in job pretention scheme furloughing following process is and also trying to keep the businesses alive during this pandemic as good reasons for that because you know the extent to which otherwise viable companies c

we are also waiting for kohl's. they are looking at adjusted loss of about $3.20 a share.quarter, they

cold seems to have -- kohl's seems to have struggled. their online sales did not.60%.ales that was a testament to them focusing on digital marketing. last month pretty much all of their stores were dark. said theyis, the ceo can only replace a small proportion of sales lost to the stores. the stores are still pretty important to that end -- that company. we have seen high-profile bankruptcies, j.crew for example. what do we expect in terms of, is there going to be further to come or have we see most of the pain and we are focused on what the recovery could have with the reopening? marcus,w, neiman jcpenney all filed for bankruptcy. and this person thinks her company is well-positioned to gain market share. jp percent -- jcpenney is closing one in four stores. the stores are still important to consumers. the other department stores could win over those customers in areas where jcpenney [indiscernible] shery: thank you, joining us with the latest on the retail earnings out of the u.s. we have breaking news. we are seeing that brazil had 17,408 coronavirus cases. this

so traffic was lower and they weren't buying quite the volume than the month prior then names like kohls, urban outfitters and l brands were operating purely on line some were able to fulfill curb side orders. otherwise, it was just regular delivery and consumers pulled back on purchases for that time. the focus for these will be more about what they are seeing as stores gradually reopen in some areas of the country is the consumer coming back? if they are, what are they buying analysts still like some of these off price names like a tjx or ross stores and think they could continue to be a beneficiary of consumers doing a trade down if they are feeling more constrained they might even be inventory beneficiaries. what is interesting that in general, they have a small on line e commerce experience during the quarter, they actually shut it down entirely there is a lot to watch with retailers this week. courtney reagan cnbc >> joining us now to weigh in with more insights stacey, thank you for joining us let's kick off with walmart. the next step in terms of the reporters. given the majority

account of saudi arabia's links to 911 different from what was revealed in kohls the saudis are critical ally of the us government despite all the strains and u.s. saudi relations over the years particularly the murder of jamal khashoggi. the washington post journalist and. revealing information that the f.b.i. argues is conclusive i should point that out that in the same declaration f.b.i. assistant director for counterterrorism argues that the evidence is not that strong that it was more a theory of the agents then an actual conclusion that the embassy official was involved that is the f.b.i. is official position it's different than what's going to be found in the documents and i think that the f.b.i. concluded the justice department concluded that it was inconclusive information that it did not wasn't sufficient to build a criminal case against the saudi embassy official then better to keep it all under wraps then let the lawyers for the plaintiffs for the families of the victims have it and try to pursue accountability in a civil court well to saudi by government forces and 10 separa

today, spoke to kohl's thinking about clothing, how you try it on, return it, that is ke a key considerationde pickup, a lot of the grocers were early to that, but others are having to execute quickly. rethinking safety. safety has been one of the most important topics for both employees and customers. dwefer experience is less ll time in a store, less traffic. how do you rethink your whole story experience in terms of safety? that is happening as we speak. these are changes that we will see unfold. i also think size income inventory, management, the need for speed, vendors across the supply chain -- a lot of pressure. retail was under pressure prior to covid but a lot of those trends have accelerated. shery: great to have you with us, oliver chen. coming up, loaded with cash and ready for action. we will discuss the biggest real estate investors standing by to take advantage of the lower prices created by the pandemic. this is bloomberg. ♪ amanda: live from toronto, i'm amanda lang. welcome back to bloomberg markets. earlier, david westin spoke to brian moynihan and asked the question about

all of these have huge expose you're to the wholesale channel, department stores or even kohl's theseguys have 40% of their business inside of these doors and they just disappear. you can't transition to dct or direct or on line faline fast eh all of these brands that have worked so hard to get out of the off price channel will run back in to get rid of inventory, which is incredibly damaging to these brands >> when i hear that, i think about the stores that buy up all of that inventory. stores like tj maxx. i got to imagine when we return to stores, this is going to be like a lottery win for tj maxx and ross stores. >> it will when you think about tj maxx, they've done so well despite the fact that all the good brands have said, listen, we don't want to be associated with you. now they turn around and are saying, please take us back. under armor said their removal from the space will be slower. tjx has said, we'll give you pennies on the dollar and turn around and sell that at a pretty good margin here they are a winner in this space. >> i have to imagine there is one upside for appa

this is a kohl war fight -- cold war footing, it is time for us to defeat them.nator marsha blackburn, we appreciate it. good to see you. >>> up next, more judicial activism from clinton-appointed judge emmet sullivan. the latest, the latest nonsense that he's conjured up to resist the department of justice's motion to set general michael flynn free. investigative journalist john solomon with us next. we'll be right back. ♪ ♪ r insurance, so you only pay for what you need! [squawks] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ which is why when it comes to his dentures only new poligrip cushion and comfort will do. the first and only formula with adaptagrip cushioning technology. choose new poligrip cushion and comfort. and my side super soft? yes, with the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. can it help me fall asleep faster? yes, by gently warming your feet. but can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to k

kohl's, maybe not so much. but big names like walmart and amazon, all-time highs under the belief that people whether sheltered or when they are unsheltered are going to be doing a great deal of buying. that lifted stocks mightily today. and these great reopening as they continue at a breakneck pace, that is getting to be a very, very big thing. how much of a thing? you might be surprised after this. s refunding our customers a portion of their personal auto premiums. learn more at libertymutual.com/covid-19. [ piano playing ] "show me what you're made of." so we showed it our people, sourcing and distributing more fresh food than anyone... our drivers helping grocers restock their shelves. how we're helping restaurants open pop-up markets. and encouraging all americans to take out to give back. adversity came to town. so we looked it in the eye. and it won't be us... that blinks first. >> neil: of the president and you look at the white house is meeting with arkansas' governor asa hutchinson and kansas governo

this is a kohl war fight -- cold war footing, it is time for us to defeat them.nator marsha blackburn, we appreciate it. good to see you. >>> up next, more judicial activism from clinton-appointed judge emmet sullivan. the latest, the latest nonsense that he's conjured up to resist the department of justice's motion to set general michael flynn free. investigative journalist john solomon with us next. we'll be right back. ♪ ♪ i'm greg, i'm 68 years old. i do motivational speaking in addition to the substitute teaching. i honestly feel that that's my calling-- to give back to younger people. i think most adults will start realizing that they don't recall things as quickly as they used to or they don't remember things as vividly as they once did. i've been taking prevagen for about three years now. people say to me periodically, "man, you've got a memory like an elephant." it's really, really helped me tremendously. prevagen. healthier brain. better life. on caregiver preparedness hduring coronavirus.ps form a team that can help with caregiving tasks. take an inven

second wave in the viral infections >> liz young, retailers in the last two weeks alone gap up 40% k kohl's up 25 nordstrom up 18 and macy's up 43 >> retail is a sector of the market that got beaten down badly because there was no foot photographic i -- traffic we tail will get tighter as we start to reopen, people can go back into stores. they may will reopen but they may not be profitable. that becomes a bigger threat it does depend on the virus. where i disagree is i think we'll have a second we have a no matter what. we're probably going to have one in fall. it's a matter of how bad is it is it something we can live with or is it something we have to revert and go back into shutdown >> leaves you a heck of a runway june, july runway is a pun. for airlines, restaurants or whatever i agree with you though. >> you can't suggest the runway is clear between now and september, can you we can't just declare a clear runway. >> right i don't know that jim was necessarily -- >> i'm not suggesting he is. i'm not suggesting he is i'm just making a broader point that let's not get ahead of ourselves

you look at kohl's and disappointment there. who are the winners in this sector? what do you think? depot really stands apart. as you said, strong sales, the earnings weren't so good but neil, the stock has done very well. i think it's because home depot has been spending money in the right place. in fact, they have been spending money on their employees. $850 million. you know, without government, without the paycheck protection program, all that government spending, oh, you know, big employers like home depot would leave employees to rot, would neglect them. opposite was very much the case. in home depot, they spent almost $1 billion on worker betterment, hourly pay for time off for hourly employees, for seniors, for people with health risks, not to mention higher overtime pay. so they have done well by their employees and they have done well by their shareholders as well, despite all the layoffs and all the reduction in construction spending, home depot's stock is up by 10%. this is a great example of companies doing well by doing well by their employees even during a pandemic. n

, and thank you, jay powell, because it was you who did it, not the shoppers at macy's or kohl's >> aspointed out, the jawboning alone was certainly enough, or the idea of fed support being there seemed to be enough to support these investment grade markets or even noninvestment grade to a certain extent, and the fallen angels is also where the fed said it would come in potentially and help support the market >> everybody hurts >> i'm so glad you brought that up, because we have had our share of bankruptcies, and let's not, of course, forget that it was through no fault of execution on the part of these companies. hertz had a large debt load. it was backed up by the enormous fleet of cars, the value of which conceivably was going down or their inability to monetize those to pay down debt in an effective way, but the losses there are significant, not the least of which, of course, was for carl icahn he had agitated years ago, had people on the board of directors, of course, and sold stock at 72 cents yesterday. >> oh, boy >> 50 plus million shares. >> incredible. he's got some winners t

there folks like kohl's not keeping up and a whole lot of others entering bankruptcy like j. crew and jcpenney. if you have a good business plan, good online model, that could be the financial wind at your back. mark avalon, potomac wealth advisors president following all of this. what do you think of the consumer? obviously she can kind of pick and choose where they want to do their buying. the early read is some of those names i mentioned are where they're doing buying. are you surprised? >> no, i'm not surprised, neil, because a lot of other retail was shut down. before we look at these numbers and think, because target's numbers are up other amazon's numbers are up on the top line that the consume he is flush with cash and eager to spend. virtually every mom-and-pop retailer on main street was shut down. if you needed clothes you went to target. while you were there, you did groceries. the common thread between target and relatively strong numbers and lowe's, lowe's, you don't usually shop for things at lowe's at amazon. so they're protected there. groceries are at target

caterpillar had a great and ge, the retailers, heavens, kohl's had a good week. that's what i mean of broadening out of the rally where are they getting the money? tech names, mega caps not doing well this week overall netflix, facebook, amazon, apple to the downside. a wag this morning called it zoom fatigue the stocks of zoom and docusign as market leaders are finally moving to the downside it's terrific news for the overall market. >> bob, we were talking about the floor reopening yesterday. do you know when they'll let cnbc and other media people back in the building? or -- i mean, is there any talk about that >> oh sure oh sure. they don't say it but there's a timetable. they'll see what happens they'll see if trading goes fine make sure there's no reinfection and obviously an issue for that and probably two or three weeks to be discussions with the designated market makers and that have the post we know all about will be pressure on them to say, okay, are you interested in coming back there's legal issues involved. there's medical issues their own people ha

>> once upon a time, you said amazon should buy kohl's >> yeah, i like the idea of the bar bell approach with bricks and mortar retail i don't see any reason for amc, it's a rounding error, it would be to me, nothing more than a hassle, but if jeff bezos is interested, i'm sure he'll make it work. it would make more sense if amazon were to buy a pinterest for instance you think how they can broaden out, they don't have any social applications, there's a lot of things they can do with prime. get their prime members pinning a lot of different things and make the subscription that much stickier that makes a lot of sense. founder of pinterest would make a solid senior executive and maybe -- maybe he'd be groomed to take over more than just that on jeff bezos. >> what do you think of that combination given you're the only member on the panel that has a pinterest page >> no, i know i'm the only member on the panel. i was an early adapter to pinterest. dan beat me to the punch but he's 100% right. amc is a rounding error, the risk reward at this point is -- it's amazing for amazon. you're talki

penn, and kohl's but have received no response.d all the uncertainty and a lockdown, garment factories were allowed to reopen in late april. there are still plenty of pending orrs and owners say they¡ve added safeguards to sanitize the workspace and put more distance between workers. workers advocates say it still leaves a lot people in still- crowded spaces in a country ill equipped to handle covid outbreaks, but one that's counting on this workforce to anchor its economic recovery. the health of bangladesh's garment industry post covid will depend heavily on how consumers behave in rich countries. will they return to the malls or even onlinto buy as they used to or will the appetite forsh n have shifted and this start to become clear. for the pbs newshour, along wite the ill- minnesota.masall of america, in >> woodruff: fred's reporting is a partnership with the undertold stories project at the university of st. thomas in miesota. >> tacufcuoosionngwof:ag m former vice president joe biden of sexual assault. tara reade who in 1993