tsmc will announce as soon as tomorrow plans to build an advanced ship factory in arizona and mitch steves is saying that could be announced for certain names in his semiequipment names and applied materials would be one of them and notably the company did not provide guidance and the ceo gary dickerson saying the situation is fluid, but based on the visibility and what he's seeing now, supply chain is recovering and the underlying demand remains robust. on the call dickerson saying in q2 they were impacted by the lockdown which impacted suppliers and that particularly hit the segment and dickerson saying we are in a much better position today there are pockets of weakness and called out what's happening in autos and industrials consumer spending, he says and the potential headwind and the pandemic and we noted from a lot of tech ceos accelerating adoption and given what's happening with learn from home, bottom line, underlying demand is robust. our business, he says can deliver double-digit growth for the fiscal year. >> thank you, josh lipton. a pretty stunning move from amat with a 5% m

i also caught up with rbc's mitch steves he said this should benefit names like applied materials as he argues like nvidia and amd and it would minimize their supply chain risk. >> interesting news, josh. interesting foreign intel which already has i believe four fabs in arizona one of them employing about twice as many as tsmc plans to wonder if they get any incentives to build more or expand their two thank you. >>> still to come, we are going to get art cashin's take on today's market and the road ahead. ayl rhtack. st with us rom home and here to help. hey lily, i'm hearing a lot about 5g. should i be getting excited? depends. are you gonna want faster speeds? i will. more reliability? oh, also yes. better response times? definitely. are you gonna be making sourdough bread? oh, is that 5g related? no, just like why is everyone making sourdough now... but yes, you're gonna want 5g. at&t is building 5g on america's best network. visit att.com to learn more. >>> stocks are having their worst week in about weight weeks. let's check in with the director of floor operations. guys, happ

. >> senate majority leader mitch mcconnell, and secretary steve mnuchin, say they want to take a looke impact of what's already been spent. that's about $3 trillion in emergency funding. before they spend trillions more taxpayer money, they say they want to make sure they are doing it carefully. others suggest it would be smart to make some adjustments to what has already been passed. >> i think it's pretty obvious that some of the things we did in our haste in this time of emergency needs some tweaks. i think it's a good time to tap the brakes to evaluate that and see what else we need to do next. i have no doubt we will do more. >> they say a vote on the next release package would come at the earliest on friday, since republicans have been left out of these talks. it isn't likely to go anywhere with the senate or the president. in this election year, it allows democrats to offer a contrast with the g.o.p. harris? >> harris: mike emanuel, thank you very much. new york governor andrew cuomo is sounding the alarm about a mysterious new illness affecting young children which may be link

steve: i want to turn our attention to washington, d.c. and this headline from roll call. the senate back in session as members of the u.s. senate, including the republican leader mitch mcconnell, wearing face masks. joining us on the phone is a reporter who covers congress for cq roll call. >> thank you for having me. steve: it seemed to be a day with new norms for physical and social distancing. the mandatory headgear for members of congress as well as reporters covering congress. katherine: yes, it's definitely a whole new world in capitol hill. it is important to note that the masks, while recommended by the attending physician and started an arms on capitol hill, masks are not a requirement. there is no one enforcing mask wearing up year. there were some senators today who opted not to, including senator roy blunt, chairman of the rules committee in the senate. so it is definitely not a rule. some capitol police also opted out of the masks. steve: when the senate republican leader mitch mcconnell walked into the senate chamber, he was wearing a mask. the photograph from the story you posted earlier. the question some democrats were asking is the need to come bac

pelosi and schumer say this is their next big redline, the mitch mcconnell is not having any of it neither is steve they called it a blue state bailout end insisted state should be able to declare bankruptcy which republican larry hogan called complete nonsense and andrew cuomo not wanting to be outdone said it's one of the dumbest ideas of all time. so what is really going on here? most important nation president trump back more money to state and local government because in the end it's his position that's going to be crucial. inadvertently it was actually governor cuomo who put his finger on it. >> bailout us, them, no, it's just theater. it's just smoke and mirrors to avoid the american people seeing the reality which is whose pocket they want to put money in verses whose pocket state and local government want their funds. >> exactly, governor, whose pocket do state and local partners want to fund. it's the po pockets of the public sector union that fund and organize that political campaign. that's why i make this as clear as we can. one, it's reasonable for the federal government to help pay f

steve mnuchin for the white house and mitch mcconnell in the senate and you and chuck schumer workingough that. in this case my understanding is it's coming from mitch mcconnell in the white house, we're done here. there is a headline that gave me a chuckle, the gop rekindles deficit concerns adding snag to talks on aid. is it your sense there is like -- what is your read of the posture of the white house and senate republicans towards additional legislative rescue relief like you're proposing? >> well, it's interesting to see what they're saying becoming renewing their fiscal hawk positions, they can barely remember. i have confidence in going big with what we do. when i saw them give a $2 trillion addition to the national debt in order to give 83% of the benefits to the top 1%. that was so irresponsible in terms of nothing for the economy except put mountains of debt on our children. these are investments. all of these things are for the good of helping people in personal lives but also a stimulus to the economy. ask any -- well, almost any, i don't know who they would drum up, econ

however, the senate majority leader mitch mcconnell says that there is no urgency to act immediately, calling the bill a laundry list of democratic priorities. >>> steve says rain is coming today to parts of the bay area, and this weekend we will have a stronger storm system moving in with rain and cooler temperatures, helping delay the fire season. this week's rain comes after a dry winter that raised concerns about the fire season coming up, several communities reported less than normal rain for the water year, beginning in october. >>> all right, back over to steve the, for people joining us we got to the answer from mcgrail winery in the livermore area, that the rain right now is not harmful because the grapes are being protected by a shell, it is called the kaletra's. the rain washes the salt out of the soil. >> good to hear that. we have much more on the way. i don't know how much rain is too much. it is good to know that what we have had recently is not a problem. the bulk of this moisture is mainly to the north but there will be a few disturbances moving through, you can see off of this, picks up a half an inch. santa cruz, half moon bay, half

is a smaller group in the senate, and that is the mitch mcconnell and lindsey graham who have a sort of broader, ideological thing. i think it was steveho described lindsey graham as the pilot fish who follows along the shark. [laughter] i like to think of him more as a siegel picking at the garbage barge. seagull picking at the garbage barge. gop -- they do not understand that no matter how much fried chicken you feed the alligator while you are sitting on the dock, it is still going to come up on the dock and eat you. [laughter] you cannot make him happy. there is nothing that is going to satisfy him, short of a crown or scepter, and all of the things that they give trump because they think is going to make him happy will not suffice. just acquitting him in the senate, i guarantee you you -- guarantee you that he is still, "what are you going to do for me next?" be theas a joke, don't first person to stop clapping when stalin is speaking. they all live in that world now, where they are all constantly required to look at the absurdities and corruption and evil of trump and say, "well, you know, kids in cages is bad, but you know what

steve: yeah, what did you make over the weekend, mr. leader, of mitchnancy pelosi put a letter together that said while the president had offered some of the quick testing machinery for congress, they declined it saying it should go to other places. would that kind of -- wouldn't -- i mean, the use it at the white house so everybody who comes in contact with the top executives of the country, they know whether that person has it. do you think mitch and nancy got it right and congress doesn't need that stuff? kevin: i have a difference of opinion. as we open up we have to be prepared for any flare-up and that's how you deal with it and having a machine, limit the number of staff, the press and others and inside the committee rooms you can test, that's probably 100 more tests in the process. maybe it would keep us safer and keep the essential work of congress going instead of staying home. i think that would be critical at the same time and if there's a flare-up you make sure it does not continue to grow and you quarantine the area and tracing to be able

mitch. we will take a break. when we come back, holding china accountable, house minority whip steve scalise and what they plan to beijing's role of covid-19 pandemic and cover-up. right here. stay with us. back in a minute america's oldest lighthouse has weathered many storms. seeing the break in the clouds before anyone else. together, we'll weather this storm. . . . maria: welcome back. good monday morning, everybody. thanks so much for joining us many i'm maria bartiromo. it is monday, may 11th 11th. your top stories right now. more people testing positive for coronavirus at the white house leading to self quarantine and enhanced safety measures there. the debate over additional stimulus wages on this morning. democrats are proposing a one and a quarter trillion dollar plan which includes checks of $2,000 a month going directly to americans. markets this morning are lower. futures indicating a weak opening this morning after strong rally last week. take a look at futures, indicating the dow industrials to open down 150 points this morning, s&p 500 down 19, and nasdaq futures lower by 26. this after a strong r

was steve ma knew sh mnuchin doing the negotiations for the white house, and chuck schumer working together to do that. in this case, the message has been sent from the republican caucus, from mitch mcconnell from the white house, basically we're done here. there was a headline that gave me a chuckle in bloomberg, the gop rekindles deficit concerns. what is your read of the posture of the white house and senate republicans towards additional legislative rescue relief like you're proposing? >> it's interesting so see what they're saying renewing their fiscal hawk positions, they could barely remember. i have confidence in going big with what we do. when i saw them give a $2 trillion addition to the national debt in order to give 83% of the benefits to the top 1%. that was so irresponsible in terms of it did nothing for the economy, except heap mountains of debt on our children. so with this, what we're saying is these are investments. all of these things are for the good of helping people in their personal lives but they also are a stimulus to the economy. ask any, well almost any, i don't know who they would drum up, economists, they'll tell you. food stamps, imagine they're agai

now about an hour ago treasury secretary steve mnuchin was in a meeting with the vice president, senate majority leader mitchonnell and representative kevin mccarthy. a senior administration officials tells me that was about the phase four stimulus, what should be in the package and how to go forward with that. mnuchin just about a few minutes ago actually coming out of that meeting said there was fairly helpful. back to you, stu. stuart: i want to hear more about the next rescue package because that's a key i think. do they get or don't they get it or do they want it or don't they want it. edward, thank you very much. since the headlines, not seeing any movement on the market. still down 100 points for the dow industrials. scott shellady is with us. let's go at it here, do you want to see, i don't know why you're laughing, do you want to see a lot more money printing from the federal reserve? >> i think, stuart, i know there are a lot of small businesses that are hurting. i think we have to wait to see how much we've spent and see whether 3 trillion is spent. to give everybody idea, million seconds is 11 1/

steve scalise, the house republican whip. good morning to you, great to see you. >> a senator mitch mcconnell said, it is dead on arrival.ent was never even consulted, they never worked with republicans so clearly, she didn't take this serious and wanted to just throw out a big socialist spending bill and a grab bag of all kind of crazy things like paying illegals, doing bailouts to states that were already failed before covid-19 to just throw $500 billion to states that it already wrecked their economy. why don't we be smart about helping businesses to get back up and running, families that want to get back out and get their chance at the american dream again and safely do that. you are seeing so many states safely reopening, 36 have already done it. my home state of louisiana is reopening in phase one today safely. people know how to go out and be around other people again in a safe way and start getting the economy going again but look at some of the studies that have come out recently. johns hopkins, stanford and others talking about the negative impact people's health of shutting in. talking about over a million chi

steve: he is at the oversight of the mike flynn case that had as we know now, a crazy origin. geraldo: i think nancy pelosi is guilty of brutal hipocracy right there. mitchuent public speaker but he really gets to the point and when he labels this as hipocracy he knows exactly what he's talking about. how dare democrats talk about this big a diversion when for three years, they dragged the country through a meaningless russiagate probe that has nothing to do with national security, everything to do with domestic politics no proof of the essential premise not from the get-go and still went ahead on this phony call to ukraine to impeach the president of the united states for the third time in american history. i mean, ontoing but a partisan house majority for the democrats and now they complain that the senate has the majority and as the republicans have the majority in the senate and they are probing what needs to be probed about barisma, about ukraine and i hope senator johnson takes it to russia gate but what's good for the goose is good for the gander. shame on nancy you had it coming once you pushed that rock up the hill trying to get trump and it rol