tv Mornings With Maria Bartiromo FOX Business July 7, 2020 6:00am-9:01am EDT
the book will be published on september 22nd. you can order it now. reminder to follow me on twitter on lou dobbs, like me on facebook and maria: good tuesday morning, everybody. thank you very much for joining us. it is tuesday july 7th, top stories 6:00 a.m. on the east coast. big tech taking a stand against china's crack-down on hong kong's freedom. google, facebook and twitter all saying they will not release user data to hong kong law enforcement. tik tok pulls out from the city as well as the u.s. is looking to banning the popular app, china social media app the way inia has already. drandronanfaony i ii ii wni w wi e stil kneeip deeee
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signs of recovery to tell you about in germany. industrial output rebounded in the month of may rising 7.8%. in asia overnight, markets mostly lower with the exception of china. stocks rose again in china following big rally on monday after state media said that china needs a healthy bull market and ready to add support to attract investors. as soon as ccp tells millions are open. leaders in major u.s. cities vowing to get crime under control after violence weekend. brian kemp will deploy one hundred nowal guard troops after 30 people shot and 5 people killed including 8-year-old girl. in new york outrage after video reported showing a man holding his daughter's hand as he is gunned down in the city. new york city bill de blasio says the situation is
unacceptable and blaming the up pick of violence on the coronavirus. the white house to play a larger role adding the country needs to focus on securing its streets. secretary of state mike pompeo says the trump administration may soon ban chinese social media apps including tik tok, pompeo weighed in on fox news last night. >> we are taking this seriously. we are certainly looking at it. we have worked on this very issue for a long time. >> do you recommend that people download on their phones, tonight, tomorrow, any time currently? >> only if you want your private information in the hands of communist party. maria: tik tok is leaving hong kong market after security law there. the beijing-based app trying to distance itself from china naming american and former disney executive kevin meyer as ceo of tik tok.
china recently approved the controversial national security law, the two companies say they are reviewing the implications to have new law which gives china sweeping powers to crack down on descent in hong kong and criticism of the ccp. hong kong made first arrest last week, 10 people were detained. seattle city council meanwhile approved payroll tax on big businesses that pay highest salary. targets companies with annual payrolls of at least $7 million in salaries of more than $150,000. lawmakers estimate that the plan called jumpstart seattle will raise $214 million a year. the money would be used for covid-19 relief and build more affordable housing. futures pointing to lower opening. markets are pulling back from big rally yesterday ending on high yesterday. investors are eyeing reopenings across the country, some areas rolling back efforts amid spikes
of coronavirus cases, shanghai reported significant gains, joining me right now is potomic wealth adviser mike avalon and dagen mcdowell, wall street journal writer jon hilsenrath and cornerstone macros michael, great to see everyone this morning. thank you so much for being here. mark, let me kick this off with you, yesterday the big rally as we got the word from the chinese communist party that we are supposed to have a bull market, retail investors started opening accounts in china and that led a whole global rally, what's your take on what took place. >> that's the involvement that we've had for close to 13 years. investors respond favorably and no reason for them not to when you have the dual impact of monetary and fiscal policy really urging stocks higher. when the fed and other central
banks step in, they are huge engines behind an economy or global economies at this point and it's also taking away other alternative investment choices. where are investors supposed to go when the ten-year hoovering half of 1%, which is just below inflation, that might be created some frost in names in short run but until the fed gets some discipline here, until even the u.s. government, congress stops these relief efforts which are needed, of course, but until we see an end to that we don't see stocks falling through the floor. maria: right. well, that's one way to look at it, the chinese communist party creating more stimulus like the fed has, but michael, when you're looking at china specifically, this is a different story in my view than the other stimulus that we've
seen. i mean, yesterday, the chinese federal government basically said, look, we want a bull market in place and that's how the economy works, it's top down, the ccp says something and the country follows suit, that's why you had millions of retail investors opening stock accounts, is that sustainable? mike: it's not sustainable but in the near term it's something that will help list sentiment as the federal government tries to stabilize the economy after the chock of covid and helps -- tries to help china from the relatively weakness around the world and like in the united states, but it's not sustainable. maria: what do you want to do here, michael? tell us how you're allocating capital right now? micheal: sure, we are not seeing signs, though, that they are necessarily helping to lift global markets and create more inflationary environment like we saw in 2016 or in 2009 when
money growth in china was in high double-digit territory. we don't think we are in a backdrop like that. you don't want to be fighting the governments, whether it's the fed, et cetera, and so you want to find those tailwinds -- maria: yeah, i'm really -- i'm really referring to the broader market actually and -- and, dagen, technology stocks obviously have been performing great recently. the nasdaq closing at record high again yesterday, netflix reaching all-time high. amazon at $3,000 a share yesterday. your take on what we have seen in terms of the valuations, dagen? dagen: this is just the inflation of asset prices because of unprecedented federal reserve action and action by central banks around the globe and i think that politically and economically you're seeing a
greater divide between the haves and have nots where there's explaining that needs to be done on prices on one hand and people who are still struggling to find enough work or get their jobs back, and i think it's only going to be exacerbated over the coming years and i don't know how much longer this can hold up. maria: jon hilsenrath bank earnings coming out soon, several banks to report second-quarter earnings next week, investors are locking at the impact of the coronavirus pandemic, you interest rates, of course, where they are, what do you want to say about the banks this morning given earnings are coming out in a week? jon: i think the banks had to have had tough quarter with loan values so that to me kind of points to disconnect that we are seeing in the market where tech stocks are going through the roof, nasdaq hitting new records every day but if you look at the
other markets, s&p 500, dow jones industrials, they are still down for the year and one of the things that i think investors have to puzzle out over the next weeks or months is whether they keep writing tech stocks higher or a moment coming to shift toward less, under valued broader market stocks including the bank stocks that you referenced. maria: mark, real quick, if you look at technology, banks will be reporting earnings next week and tech where is where the valuations have skyrocketed, are you buyer? mark: banks cause me a lot of -- right now. you talk to bankers on the streets we haven't seen charge-offs because of loan restructure. anything travel related is dead on books and gone to the banks and the banks have given some sort of loan forgiveness and restructuring, there hasn't been
a write-down. we will see the true weakness in the core economy, not the growth sector, not the tech sector we've been talking about, not the nasdaq stocks and the disconnect that jon mentioned will be exacerbated and visible but doesn't mean investors should run for the hills an pull from stocks. it just means they need to be selected and if they want to be on the value side of the trade, they need to look at things like industrial, health care, telecom, dividend yielding players that might be able to do well in a new environment, in a biden administration or trump administration, whoever wins, and broadly diversify out. but i would not overweight and back up the truck to overweight tech names and bank names. i think they are a value trap. maria: all right, we will leave it there. we will be watching the factor and seeing if it's a value trap. thank you very much, mark avalon on investing. we are getting started this morning coming up this hour,
join us from the state of real estate. major cities seeing decline in market, prices coming down, we are going the take a look. next hour former white house chief of staff mick mulvaney to talk about the paycheck protection program. chief operating officer of nissan will be talking about the turnaround of nissan after covid-19 and arrest of carlos goshn. glen hubert to talk about the state of the economy and the ceo and founder will talk to us and bringing democrats to the platform. all that ahead but first general jack keane to talk about the idea of banning tik tok from the united states. reopening america. phase 3, we are talking to a nail salon owner on what has changed. that's coming up. you're watching mornings with maria on fox business. ♪
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maria: welcome back, growing concerns over coronavirus spiking in the united states. dr. anthony fauci warned yesterday that we are still, quote, knee deep in the first wave of the pandemic as cases never decreased to intended levels and deaths across the country topped 130,000 now. florida facing conflict within the state, miami-dade county decide to go reclose restaurants and gyms. governor ron desantis' administration mandating all k through 12 schools reopen next month. meanwhile new york city is now in phase 3 of a reopening which includes personal care services like nail salons, spas, tattoos and peerings at 50% capacity and also includes reopening of outdoor recreation services. the city has decided against reopening indoor dining, joining me right now manager of reopened businesses lego lee nail salon
grace, thank you very much for joining us, how was your reopening? >> our reopening was a little bit slower than expected. a lot of our old customers have been excited to come back so we've been seeing a lot of those calls and seeing them as well. maria: so do you feel that you have a lot fewer customers, capacity issue, are you handling things much differently in terms of the safety precautions like gloves and masks, et cetera, tell us what's happening with this reopening? >> so with the 50% capacity it definitely limits our income significantly and so the way that we've been doing things now is we are taking appointments only, basically trying to limit the amount of time that a customer will spend inside the store, so at the moment because we haven't fully booked up yet
people are still calling to see if we actually are open. we have been getting some walk-ins and only been taking them if we have the space and asking everyone to wait outside. we've been taking temperatures, cleaning the equipment, the stations regularly which has been adding time to the work. maria: are you going to be able to keep this going with 50% less capacity and the increased costs that you face now with the safety precautions? >> so with the increase costs, all of our expenses are staying the same and then also having just come out of a -- over a 3-month closure with the 50%, it's going to be an uphill battle for sure. basically we have to rely on any profits that we make in the upcoming months to kind of cover, you know, the rent that we still owe for the last 3 and
a half months as well, so it's going to be a struggle. maria: grace, have you had to raise prices, grace. >> grace: yes, we have had to raise prices. we have to cover the cost of, you know, ppe essentially as well as credit being lost as well. we don't want to add too much for the prices for services that customers will like to come regularly for but we have had to add a little bit on and we will see how that goes in the next coming weeks and depending on that -- to cover our losses and expenses, we would need to raise it a little more than what we have already but if we can we would just like to keep it as low as possible for our customer sake. maria: all right, we wish you the best, grace, we will be watching as your company and so many others face this task and
the same issues. grace hahn, best of luck. coming up banning tiktok, the u.s. taking a closer look at the fate of the chinese social media site plus what a deal patrick mahone signing the largest deal in nfl history, eye-popping number making buzz this morning. right after this it triggers a tax liability for you. and the higher the turnover the more you have to pay in taxes every year. that's why you want to own low turnover funds. the less you pay in fund fees, the less you pay... and still going for my best. even though i live with a higher risk of stroke due to afib... ...not caused by a heart valve problem. so if there's a better treatment than warfarin, i'm reaching for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin.
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to stream the entertainment you love. xfinity. the future of awesome. maria: well, the clock is ticking apparently secretary of state mike pompeo is hinting that the trump administration may soon crack down on the chinese social media app tiktok, pompeo weighed in on fox news last night. >> we are taking this very seriously. we are certainly looking at it. we've worked on this very issue for a long time.
>> what do you recommend that people download the app on their phones tonight, tomorrow any time currently? >> only if you want your private information in the hands of the chinese communist party. maria: of course, app has been accused of promoting propaganda and feeding user information directly from china and has been banned in india. dagen mcdowell, tiktok's developer has denied the allegations with the ceo telling reuters it would not comply with giving data request to beijing. dagen: that's what the ceo his name is kevin meyer said, chief executive of tiktok and parent company and hired by disney to shepherd the growth and set aside the concerns about this but when india did the same, banned tiktok, this is what the ceo said then. chinese authorities have never requested the data of their
indian users and even if they had the company would not comply, but, of course, tiktok is the center of a national security review that was requested by senators really beginning with senator marco rubio, but this is a bipartisan effort from those including chuck schumer of new york and tom cotton. so the tiktok is certainly going to be continuing to feel a lot of heat from the u.s. government and maybe users here. maria: yeah, but i mean, just to be clear, if you are a chinese company, you will not say no to the chinese communist party. it's just not how it works. i mean, the ccp, if they want information from any company that is a chinese company they will get it and they will be forced to hand over all data to the ccp. there's also something called civil military fusion where any innovation in china first is checked with the military to see if the military can use it, so,
again, the chinese communist party will run all companies that are in china, so, i mean, he could say he's not going to give the information to the ccp but it's just no way that that would happen if they asked him for the information. dagen: well -- maria: it's not like america where you can say google, guess what, i will walk away from you and won't work with you. that won't fly in china. dagen: the servers weren't in china but in singapore. there's an issue of where the servers were held. maria: and india, of course, banned tiktok and 50 other apps from china. it looks to me like the world is understanding better what the ccp is doing and trying to run over speech. obviously we are seeing that in hong kong as well. we will take a break, when we come back general jack keane, that's coming up. thank you hamilton, musical debut giving disney plus a big
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maria: welcome back, good tuesday morning, i'm maria bartiromo, it is tuesday july 7th, let's take a look at markets this morning at 6:30 a.m. on the east coast, futures are pulling back from rally, nasdaq futures lower by 53 and the s&p futures down 27 right now after strong rally kicked off week to third consecutive record high. take a look. unchartered territory. global markets this morning weaker red across in europe.
industrial output rebounding in the month of may, ftse 100 down 87 and overnight in asia, all markets were lower with the exception of china which continues momentum. stocks rose yesterday and big rally yesterday and they continue this morning after state media said china needs a healthy bull market and it is ready to add support to attract investors. ccp basically saying buy stocks and they did. jeffrey epstein long-time girlfriend ghislaine maxwell is in new york prison, cheryl. cheryl: ghislaine maxwell is behind bars in brooklyn, maxwell first court date set for next tuesday where she's facing multiple charges in connection to sex operation. accused of luring underaged
girls so that epstein can abuse them, palm beach, new mexico, manhattan, epstein killed himself in man hattan jail last year. prosecutors are urging no bail for her. they say that her wealth, her international connections and 3 passports makes her extreme flight risk. also alicia, model in los angeles filed complaint ant epstein back in 1997. she's come forward again. she never heard anything from law enforcement and gloria alred is representing her. a lot of the victims have been publicly coming out this week talking about the abuse by epstein and mac well. now her arrest reportedly is worrying prince andrew according to the son, the prince is feeling nervous after he said maxwell was key element in friendship with epstein. andrew has not been charged and denies any wrongdoing but again the case continues to unfold day by day. well, pushing patrick mahone in
all of sports, massive 10-year 553 million-dollar extension to contract with the chief. he led that team to their first victory in 5 years earlier this year. the contract, the biggest in sports history, he's now beating up the last record of large sports contract that was mlb star mike trout and mahomes is number 1. country music fans are mourning the death of charlie daniels, perhaps best known for hit double the civil went down to georgia. ♪ ♪ cheryl: he was such a classic, he died from a stroke yesterday in tennessee. fans turned out. they we wanted to pay their
respects at police escort look at this led his body to funeral home where he's going to be resting, dolly parton, one of many artists paying tribute to daniel. well, the devil went down to georgia but charlie went straight to heaven. the great charlie daniels, 83 year's old, may he rest in peace. finally a look at what is trending this morning on foxbusiness.com, brooks brothers is nearing bankruptcy filing that could take place as early as this week sparking a possible bidding war. siriu subpoena xm to buy for around $300 million and disney plus downloads reportedly increase 72% during the hamilton debut and, maria, that was on july 3rd, everyone seem today watch hamilton on disney plus over the weekend. those are your headlines. maria: all right, cheryl, thank you. meanwhile there's a state of emergency this morning in
georgia, brian kemp to go to state of new jersey after violent weekend. georgia reporting more than 30 people were shot, 5 people were killed including 8-year-old girl, this comes as the country is witnessing dramatic uptick in shootings in major cities. joining me general jack keane. good to see you this morning, thanks for being here. we want to begin with violence across the country. atlanta is one issue, you've got new york as well, chicago, a deadly weekend there as well. what is going on in the country with all of this violence and what can the administration do to bring calm back? jack: well, we have seen this play before. there's usually a pullback from the police themselves because they are weary of being able to do their job and they don't believe they will be backed off
by police mayor and we have seen that in the country itself but certainly the governor is locking at -- looking at the situation and he knows t out of hand and locking anything he can do to bring it under control. anybody looking at the situation for years knows what it takes to achieve public safety that they need to achieve and that -- that is demonstrated the number of years ago in new york city, boston, los angeles and recently in detroit and there are plenty of benchmarks out there in terms of how to police properly and community relations properly and control level of violence and you have to put the perpetrators away at some point and that's the reality. we have to get them off the streets because they are the ones doing the killing. maria: well, i mean, it start with support from your bosses, support from the governors and the mayors in the cities and the cops are not getting that support. no wonder we are seeing all of
the resignations and retirements going on within the police force. let me turn your attention to china because secretary of state mike pomp bow last -- pompeo saying that the united states is considering banning tiktok and other social media apps. it comes after week after sec designated hauwei and zte as national security threats. your reaction. jack: well, i think what is happening is universal recognition now about how much china is really overstepping their hand and clearly, the major intellectual property theft that they have -- that they have executed against the world at large and use of telecoms and -- and their it companies have also done very much the same in stealing people's secrets, influencing governments, influencing people by the underhand that they've been doing.
they use it to do that. i think, maria, when i look at this strategically, president xi came in 2013 and she put china on a fast track to dominate and control the region and also replace the united states as the world's global leader and i think in those 7 years and when we look back we have clarify than we have right now, i think we will see that president xi has overreached and this pressure inside the country for it as well. belt and road initiative where he build energy project, they are running out of money and they are not delivering quality product. what we saw happen with the pandemic and worldwide condemnation for deception and spreading pandemic and he overreached in hong kong. he thought they were going to be compliant and after a year of protests he had enough and they had to clamp down on them with national security act which has done what, decisive victory in
taiwan for conservative antimainland china candidate as a result of heavy hand in hong kong and the same goes on in the region. he overplayed his hand in the region and we have the united states pushing back significantly making sure partners and allies know that we will be there for them. that's what the two aircraft carriers are doing as we speak. maria: at this point the world and certainly america should understand that the ccp has espionage campaign in place and it's doing it through many ways, whether it's apps or, of course, the technology giants, the u.s. tech giants are pushing back against the controversial hong kong security law. you've got facebook, twitter, google saying that they will suspend requests from the hong kong government for user data. general, your thoughts on that, you're finally seeing social media in the united states recognize that you're dealing with the ccp when you're looking
at hong kong and requests for user data. jack: that's -- that's absolutely the case. the world has woken up to the reality of what the chinese communist party really is and certainly the pandemic has educated many people about it but they made a strategic decision which has impacted evey and get hands on it and to steal it, not the create it but to steal it and that's what they've been doing for years now and starting to catch up. we have a long way to get control of this yet to be sure, but recognizing the problem is a major first step. maria: well, there's an incredible amount of surveillance of americans going on as well. they are doing this through hotels, they are doing this through hauwei infrastructure infrastructure that's still prevalent in america in rural areas.
we have to point that out that hauwei is used in america, those americans are being surveilled. the chinese-base firm, for example, acquired radisson hotels back in 2018. this is jin gan international holdings announced in november that it closed a deal to acquire the majority of ownership of hna tourism also of china of radisson hotels, so when you go to a radisson hotel and you stand there in front -- and you're checking in and they're taking your picture, just remember that's going on the bank of info on you, americans. people miss the fact that americans are being surveilled in their own country because of the way china and the communist party has been able to infiltrate things even the hotel industry, general. jack: the chinese knew a number of years ago clearly what they
were trying to achieve and through behavior they want to gain influence and being able to do something like that is information and they have been riding the it waves and dominating people's leaves a over the world and gaining that information, not just technological information which assists them but information on people, information on corporations, the merges that may be coming and incredibly comprehensive campaign they've been conducting for years. maria: really interesting the radisson hotel, the whole radisson hotel group acquired by china and very little coverage of that. we we wanted to point that out as well because there's ways to infiltrate and steal data importantly our universities. that's why you've seen indictments of university professors like charles leburg,
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reversal. largest markets in the country feeling the impact of the coronavirus now. in new york city sales and prices are plunging in the once booming bay area rents are plummeting. joining us jason, good to see you, thank you so much for joining us. not just prices but the number of closed sales in new york city down, down 54% in the second quarter a. says the -- assess the situation and do you look for a rebound? >> a lot of people are asking is this the beginning of when you shallian exit that people have wondered about traumatic incidents in city. we are seeing much more volume and activity since we moved to phase 2 which is now little over 2 weeks ago. so i think what you'll see is market that was dislodged and basically arrested, return to
more normalcy grant it as lower prices because we have seen it move down and now the big question is what happens from here and i think you will see a rebound in new york city. maria: jason, what kind of a decline are you seeing in terms of prices. walk us through real estate in new york right now. are sellers having to cut the price how much? >> so when we begin two weeks ago the expectation was that we were going to be off in order of 5 to 10%. so what you're seeing right now is somewhere in that magnitude where we are seeing deals get done. the other thing that i want to emphasize is before covid we were in a market that was declining for a few years and had been relatively flat and end of last year showing upward momentum to start the year. the market was already down. i don't think you will see what you're seeing in up markets where it's increase velocity.
maria: jon hilsenrath. jon: two questions for you, who wins in this environment if companies and individuals are moving out of big cities and central cities, who are the winners and places that win? there's a lot of talk about crimes in big cities, when you're talking to clients that's something that they are beginning to worry about, crime is going to go back to what it was like in the 90's and just going to be less safe to be there. >> we remind everyone that unlike other cities systematic crime has not been part of the story, recent story of new york city. a lot of them are disappointed in our current one. that's on the crime front. in terms of people going elsewhere, i talked to brokers outside of new york city whether it's in the hamptons, up state, new jersey, they've been
extremely busy and they've been setting records because how fast homes have moved. homes have sold site unseen which would never have happened before and the markets are growing. maria: but that's also a function of the decline in new york, people are leaving the city to move to the country, whether it's the hamptons or out of the city. that also speaks to what's going on in the city. >> sure, you have folks exiting the city and at the same time you have new buyers come into the fold and that's what we are seeing right now. you new folks that come right in and in market that's real decline you don't have buyers waiting in the wing. i think both are true here. maria: all right, jason, thanks very much. jason haber joining us there. new alternative to twitter, we are talking to the ceo on the platform's growth and making
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maria: time for the morning buzz. first up the richest sports contract ever. the kansas city chiefs signing super bowl patrick mahomes to reported 10-year, 503 million-dollar contract. first time member of nfl is highest paid player in the sports world overall. jon hilsenrath, your reaction. jon: i'm going to put twist on this. there's the idea alled super
star economics in the economics field that the top person in any field whether it's dentistry or book writing makes orders more than anybody else and we see in football, the average football players is $3 million a year, mahomes will be making almost 17 times, $50 million a year. we see super star economic even in football. maria: wow, nest up having passport with you all of the time and this is talking about technology, apple filed patent application allowing users to store id's digitally, this feature could be years away but, dagen, what's your reaction? dagen: quite frankly pretty easy to lose your passport if you're carrying it around in the purse with you. more currently apple in the new version of iphone you will start your automobile with your phone. it only begins with bmw's that
are made in middle of 2020 but that would be something that catches on quicker than storing your passport on your phone. maria: we try to do everything with the phone, i guess. finally this, slack gives you some time back, allowing users to turn no notification policy for weekends or whenever you don't want notification, mark, your reaction? mark: my wife has small business and she always tries to separate out the weekends from -- from doing her client interactions, you know, even though we are all online all of the time these days. it's still nice to be able to have the control between -- between -- maria: it's getting harder and harder to do frankly because we are doing everything with our phone. we will take a break. when we come back word on wall street, leading financial experts weighing in on china supporting a bull market. what's next for the economy and
maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, july 7th. your top stories right now, 7:0. big tech takes a stand. google, facebook and twitter are saying they will not release user data to hong kong law enforcement. tiktok pulling its app from the city, this as the united states is looking to ban tiktok. coronavirus cases still rising at an alarming rate, dr. anthony fauci are warning that we are knee deep in the first wave. new york reopening, while other areas including los angeles and miami are reversing course. markets are pulling back this
morning after that powerful rally yesterday. futures indicating a decline in the triple digits this morning, down 263 points on the dow industrials after a strong rally kicked off the week yesterday, pushing the nasdaq to yet another record high yesterday. the nasdaq at 10,433 points, up 226 points, that was two and a quarter percent yesterday, the dow was up almost 2%, as was the s&p. who dipped into the paycheck protection program? companies include law offices, the girl scouts, pf chang's, the list causing controversy. crime rising in major u.s. cities, georgia's governor declared a state of emergency, deploying the national guard. it's almost time to play ball, major league baseball announces the shortened schedule with some big games to open of this season. mark: i mornings with maria is live right now. maria: in europe it is red across the board, the fq100 down
80 points, the cac down 50, dax lower by 150. there are signs of economic recovery in germany. industrial output rebounded in may, rising 7.8%. in asia markets were mostly lower. in china stocks rose, after state media reported that china needs a healthy bull market and is ready to add support to attract investors. joining the conversation this morning, dagen mcdowell, jon hilsenrath and michael ca cantorwits. some of the top stories this morning, leaders in major u.s. cities vowing to get crime under control after a violent weekend. georgia's governor says he will deploy 1,000 national guard troops after at least 30 people were shot in atlanta over the weekend. five people were killed including an 8-year-old girl. in new york, more violence leading to outrage after a video is reported to show a man
holding his daughter's hand as he is gunned down. new york city mayor bill de blasio says the situation is unacceptable. he is blaming the uptick in violence on the coronavirus. meanwhile, the white house says it's ready to play a larger role in the debate over how to address the violence, adding the country needs to focus on securing its streets. secretary of state mike pompeo says the trump administration may soon ban chinese social media apps including tiktok, pompeo weighed in on fox news last night. >> we're taking this very seriously. we're certainly looking at it. we worked on this very issue for a long time. >> would you recommend that people download the app on their phones tonight, tomorrow, any time currently? >> only if you want your private information in the hands of the chinese communist party. maria: yes, tiktok says it is leaving the hong kong market after china imposed a controversial national security law there. the app has named american and
former executive kevin mayor as the ceo. facebook and twitter suspending requests for data from china's government. the two companies say they are reviewing the implications of the new law which gives china sweeping powers to crack down on dissent in hong kong. growing call to boycott whole foods after employees were sent home from a massachusetts store after they refused to take off black lives matter face masks. the latest demonstration since the incident happened back in june. a whole foods spokesperson tells fox business the company's dress code policy pr prohibits employs from wearing clothing with slogans, messages or logos that are not company related. it's time for the word on wall street. joining us now is chief market straitestrategist, art hogan and
michael cantorwits. state media says china needs a healthy bull market, it's ready to add support to attract investors. michael, we spoke about this earlier. all of the controversy around the chinese communist party, yet chinese stocks continue to rally. what's your take? >> yeah, well, it's different i think from today versus many years -- the last maybe five, six years ago is that china spent a lot of money on infrastructure to get the economy going, to get their economy going. now they're kind of using jaw-boning to get the stock market up without the aggressive investment we saw many years ago. i'm not sure it's going to have a positive growth effect like we've seen in the past. maria: that's a really interesting point, actually. technology stocks obviously fueling a big part of the gains yesterday and last several months. the nasdaq closing at another record high for a third day in a row, marking the 150th record
close under president trump, michael. broadly speaking, whether it's china or tech or sectors, tell me where you want to allocate capital today? >> sure. so just this morning we actually upgraded two defensive sectors, staples and utilities which we had as underweights for the last three months, we moved them up to market weight. not getting as aggressive and negative to say you want to be overweighting defense but i think it's time to start adding a little more defense to the portfolio now that we've already seen the market rebound 42%, now that the covid news is getting -- is changing obviously from where it's been improving and that could make the economic data a little more mixed in the back half of the year compared to what we've seen the last three months. maria: yep. all right, it's a good point. art, let's talk about the u.s. economy here. the president of the atlanta federal reserve warning of a bumpy erode ahead and says the
economy is leveling off as covid-19 cases surge. what's your take? larry kudlow said 20% growth in the third quarter and 20% growth in the fourth quarter. what do you think? >> we're seeing a resurgence of cases in the south and parts of the southwest. the atlanta fed says we're seeing a bumpy ride in the road ahead, i think he's speaking to what he knows. i think those are companies around the georgia area and that part of the south that have seen states tap on the brakes in the reopening plan. i think it makes sense to be cautious here. i think the message that the fed has delivered is we've got to be careful here and there's plenty of monetary policy behind what we've done. i think that's the clear message today. maria: what do you want to do, art? are you going to stay away from some of the high fliers like technology or are you going to allocate capital differently? >> our asset allocation plan
right now, in a traditional 60/40 portfolio, 60% is equities, we want a barbell approach. that barbell approach has the technology momentum names on one side of that. the other side is cyclicality, we want to add cyclicals to that mix. we think that's the best balance to have over the next 12 to 18 months. maria: all right. and let me ask you, joe, your thoughts on tech and where you're seeing money move within the etfs under your umbrella. >> well, we've seen certainly a lot of money moving into the technology side, healthcare and technology we think continues to be strong. tech has been up 17%. but the entrepreneurial health and technology companies have been up over 60%. we have over 25 names, over 100% year-to-date. there's a lot of movement. the shift has gone from the defensive sector into the growth and i think this is a demarcation. covid has accelerated the shift into health and technology and i think that's going to continue for a while and we continue to see a lot of growth opportunity
there. we also see opportunity for entrepreneurial companies globally, particularly the non-u.s. small cap. many individuals have taken advantage of these names that we're familiar with in health and technology like zoom and so forth. we think that's going to continue for at least this year and through the next few years as well in terms of health and technology particularly entrepreneurial names. maria: do things start shifting as we get closer to the election? michael, what's your take in terms of what investors believe will be the policies after november? >> sure, if we knew the outcome of the election we would have a much firmer view on that obviously. the outcome is going to be less dramatic as the previous candidates earlier in the year were, so i think if we have a biden presidency, that probably takes off 8 or $9 off the s&p earnings and so i think
ultimately that would be met with a little more market choppiness than seeing president trump win again. maria: did you want to jump in, michael, on tech or what you just heard? >> sure. yeah, you know, one of the things -- i know a lot of us still have the ugly memory of tech in 2000, and while we always hate to say it's different this time, it is different this time with tech because tech and growth in general as an investment strategy is really a high quality investment strategy today, whereas in 2000, growth stocks were really low quality, high beta stocks without earnings and so that's i think a really important point to make in terms of comparing today to 2000. maria: it's a good point. it was totally different back in the '90s that's for sure. art, you were there and covering this as well. let me ask you, is there a screaming buy to you right now, art? you seemed cautious earlier when talking about the broader
market. >> no, i think -- i agree with michael. i think when you compare with technology is, and amazon was one of the companies we were concerned about with the tech bubble in the late '90s, that evolved into a company that has high quality earnings and has cash generation and this pandemic has proven out that its market share in consumer discretionary retail is one piece of the larger business. amazon services is a large part of that too. i think the quality of technology earnings and revenues are light years ahead of where we were back in '99 and 2000. that said, this has been a tech-led rally, so tech and healthcare companies have led for most of this rally. i would not be surprised to see transition over to cyclical stock as reopenings successfully happen. if that happens as a slower pace, that rotation is going to be slower man. you want a balance of technology and cyclical in your portfolio.
maria: we will leave it there. great panel this morning. michael, you're staying with us all morning. thank you for that. gentlemen, please come back soon. we've got a lot more to talk about with you, art and joel, we appreciate your time this morning. much more ahead. coming up, nissan's chief operating officer is here talking about the turnaround of that company after covid-19 and the arrest of carlos ghosn. columbia business school emeritus is joining us. bob kerry is here to talk tiktok and the state of the 2020 race. we are looking at parler, the new alternative to twitter, the ceo will join me to talk about growth and bringing democrats over to his platform. you're watching mornings with maria live on fox business. we'll be right back. atter] (vo) audi e-tron. the next frontier of electric.
second stimulus check that could be part of the next coronavirus relief package. he said americans making less than $40,000 a year have been hardest hit by the pandemic. the white house expressing interest in another round of stimulus. joining me right now is former omb director, mick mulvaney. it's great to have you this morning. thanks so much for joining us. >> maria, thanks for having me. maria: tell me about some of the important things that goes into deciding what should be in the next stimulus package. we're talking about a population of people making under $40,000 in one area, others you're talking about getting money directly to employees so that it can go out the door and make sure that employees have money continuing to come in. what is the priority in your view in terms of coming up with the next stimulus package? >> yeah, the priority's pretty much the calendar, what you're facing is an election season into a recession which is why we've gone from a consensus, at least within republicans of
let's wait and see to let's pass something which is -- we talked about this before. we fully expect something to pass before the end of july. the only question is what. passing something during july gives politicians a chance to go home during the fall and campaign with something to talk about. my fear is they're looking at it through the lens of trying to pick up political popularity as opposed to looking at how to fix the problem. we've not talked about this idea of giving people money to go on vacation which sounds great, i guess to some folks, but if folks aren't going on vacation because they're afraid of getting sick, giving them money to go on vacation isn't going to solve the problem. i'm hopeful what's going on right now is trying to figure out how to fashion a stimulus that helps us solve the reason we're in this recession in the first place which is solving covid. maria: how successful was the ppp loan program? the trump administration releasing the recipients of small business ppp loans, the
list includes some large companies with ties to politicians, some real insiders including a california winery, co-owned by governor gavin newsom, a firm linked to nancy pelosi's husband, kanye west's sneaker line, robert deniro's restaurants took money. how do these people get money related to insiders? >> you're talking about at least $2 trillion that was supposed to go out in the cares act. any time you're talking about that sum of money, you're going to have those types of circumstances. and i wish that republicans at least had learned the example from the democrats in 2009 and 2010 when they passed the american recovery act, that you can't really buy elections that people tend to react negatively to stimulus as opposed to positively because people see the abuse probably more than they see the impact on themselves. that's not to say ppp didn't help people.
it certainly did. there's a lot of small businesses who benefited. to think there wasn't going to be those types of of stories in advance was naive. i think it's a good time to step back and say okay, we passed the cares act, less than half of the money from the cares act is actually in the system yet. a lot of the money that is in the system is sitting in cash accounts in banks and the economy already seems to have turned around. so if the cares act is working, it's working now and it's starting to help get the economy back on track. i think that's a good time to sort of take that deep breath and say you know what, we know it's politically expedient to pass stimulus now but maybe it's not the best thing economically and maybe we should wait and take a longer look. maria: you mentioned the election and obviously that's sort of on the horizon here. we are, what, 120 days away or something like that to the election of 2020. let me ask you about the president and what he needs to do in your view. i mean, here we have a country that is, you know, seeing its
cities destroyed. you've got infrastructure destruction. you've got shootings rising, crime rising in many, many large cities and of course an economy that is stuck in recession. we are expecting growth in the third quarter but we haven't seen evidence of that yet. what does president trump need to do to in fact get a message across and lead in this uncertain time? you know, you see him tweeting about bubba wallace. a lot of people, even his supporters are saying mr. president, stick to the message. try to ensure that your message on fixing the economy and bringing back law and order of is resonating. >> and you have already seen some indications of growth. maybe that's what he should be talking about. i think it's just over 7 million jobs in the last two months, retail sales are up, home sales in may i think set a record. so there's good news there. how do you take that and turn that into a message that gets you reelected. one thing you do is point out to people that you made america great to use his term in the
first place, can you do it again. if joe biden has a history of anything, it's not being able to get the country out of a slow economy, that eight years under president obama and vice president biden to do that and it didn't work. if the president can draw those contrasts between him and joe biden, that becomes a race between trump and biden, i think the president does extraordinarily well. he shows people if you hire me, this is what you get, if you hire him, you end up with no jobs. if it ends up being a popularity contest or referendum on president trump, i think he's got real headwinds to face. maria: thanks very much for your insights on all of theen te above. when we come back, back on campus or not, harvard's new plans to reopen this fall include full tuition without the classrooms. that's next. we'll get into it. stay with us. stock slices. for as little as $5, now anyone can own companies in the s&p 500,
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maria: welcome back. well, harvard university unveiling its reopening plan for the fall. here it is. 40% of undergraduates will be back on campus but all classes will be online. you would think there might be a change in the price. that is not the case here. harvard tuition will remain the same. dagen mcdowell, your take. dagen: what they're doing is a joke. harvard has an endowment of $41 billion and they can't cut tuition just a little bit for students who basically need the price break. get over themselves. maria: yeah. jon, you've got kids in college. should tuition be reduced due to online classes? everything is going to happen online. you're not getting the same university experience. jon: i think it's
extraordinarily frustrating for millions of parents including myself, how much this costs and how much of we have to pour into it. i would direct our readers to a story my colleague josh mitchell wrote recently which showed that some parents are making in-roads by negotiating lower prices individually and i think everyone out there, if you've got kids in school, call the school today and tell them you want a lower price, demand it, because some people are actually making some progress doing it. so let's overrun their phone lines and get a better deal. maria: yeah. and by the way, i don't know what stanford university's plans are, but they're facing criticism because of the extensive relationship it has with china. between 2013 and 2019 stanford accepted $58 million in gifts and contracts from china and its communist government, only harvard ufc and university of
pennsylvania have taken more of money from china. so the chinese communist government is not stupid. they're going to the leading universities and ensuring that the propaganda is there and the theft continues in a sustained way. but michael, your thoughts in terms of college and kids going back, it will be all johnson & johnsoall online atharvard, yete same, no decline in pricing for tuition. michael: i agree with jon. that's quite frustrating. my kids are not quite college age. but it's -- there is a risk with college students being obviously living in close quarters together, of covid spreading. whereas younger kids that are less su susceptible, kids 12 and younger, going back to school i think is going to be a real important step to getting the economy back to allow people to go back to work with younger kids. so it's a balance across ages. dagen: one of the biggest lies
sold to american families over the last 30 years is that somehow one of these college degrees is worth 100,000, a quarter of a million dollars, because except for maybe harvard and princeton, when you get out, you have no shot of making that kind of money and paying back those loans you took out. it is a lie that was sold to the american people and all these companies need to step up and start hiring kids out of high school and training them. maria: coming up, nissan's chief operating officer is here. go ahead, you want to jump in there, jon? jon: i want to push back a little bit on dagen. there's a lot of research that shows that having a college degree is going to make you much better off in the long run than not going to college. so i don't know about the surge in people -- about discouraging people from going to college. i will agree the cost is ex exorbitant in part because the
government got in the business of making loans to people and it distorted things. maria: when we come back, we're talking with the chief operating officer of nissan, talking about turning that company around after carlos ghosn's arrest. back in a moment. rcycle policie? ok? that's 15 percent on top of what geico could already save you. so what are you waiting for? dj khaled to be your motivational coach? yo devin! remember to brush in a circle motion. thank you... dj... khaled. tiny circles, devin. do another one. another one. is this good? put in that work, devin. don't give up. geico. save an extra 15% when you switch by october 7th.
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, july 7th. markets at 7:32 a.m. on the east coast pulling back after yesterday's big rally. take a look at futures, indicating the dow futures down 234 points, nasdaq down 40, s&p 500 down 23. we are expecting a weak opening this morning. european indices red across the board. the eurozone is headed toward a deeper recession than previously thought. the fq10100 is down 78, dax is down 145. in asia overnights markets were mostly lower with the exception of china where stocks rose
following yesterday's rally after state run media said that china needs a healthy bull market and is ready to add support. retail investors opened accounts in china in the millions. new restrictions for international students studying in the united states. cheryl casone with those details right now. cheryl: some foreign college students will not be able to attend school in the u.s. this fall under new guidelines issued by federal immigration officials. international students will be forced to transfer to another college or leave the country if their school only offers courses online. as of this fall, some students will be on campus, others will be remote. foreign enrollment at some u.s. schools can be as high as 15% in this nation, we should add. well, we mentioned the big streaming numbers of hamilton on disney plus in the last hour. despite that milestone, the hashtag cancel hamilton is growing on social media forcing the creator of the hit musical
to respond to critics who say the show glor glorifies slavery. when it debuted in 2015, the world was different. they say they took six years and did as much as they could in a two and-a-half hour musical, did my best. it's all fair game. hamilton, the first u.s. secretary of the treasury, married into a slave-owning family. he helped manage the sale of slaves for his in-laws. here's a look at what's trending. peter teal's company confidentially filed for an ipo, not sure whether it's going to be a direct listing or not. colin kaepernick signed a deal with disney for a documentary series that explores racial and social injustice. royal caribbean and norwegian cruise lines are developing safety standards for restarting
their businesses during the coronavirus pandemic. those are your headlines from the newsroom, maria. back over to you. maria: all right. cheryl, thank you so much. guiding nissan through the global pandemic is next, the japanese car maker reportedly securing $7.8 billion from creditors shoring up cash flow as it seeks to recover from falling sales. the company working alongside its partners, renault and mitsubishi, to implement this nissan next revival plan. after seeing its first loss in 11 years and moving past the arrest of former ceo carlos ghosn. joining me now is the chief operating officer of nissan, ashwani gupta. ashwani, thank you for joining me this morning. we appreciate your time. what's your plans to turn around nissan? >> maria, thank you for having me on the show. nissan next is a radical transformation plan which is based on prioritization and focus and that will bring sustainable growth in the future. what does it mean, it means
we're going to focus on our number one core markets, number two, core products and number three, the core technologies. maria: how much input will the japanese government have in terms of nissan's plans to grow? >> well, nissan next is driven by our nissan management and i think we have the support of our shareholders and our stakeholders to make it happen and we do believe that with this transformation plan, we will bring back nissan on a profitable growth path. maria: so tell me about the product portfolio, ashwani. because there is concern that there's an aging product portfolio, reduced daily rental fleet sales and obviously strict incentive policies and that's part of the issue in terms of cutting volume. >> well, at first our overall
product lineup was getting old. i think it was more than 40 years of age. and when we make a focus on united states, because united states is one of our core markets and the success of united states mean the success of nissan globally. when we talk about the united states, our product lineup is going to be renewed. so in the next 28 months we are going to launch eight new products in the united states, which will be with the latest technology in terms of safety, in terms of easy to drive, in terms of fun to drive. we already demonstrated that with the high performance sedan we launched, sentra and we announced the new rogue which will be launched later this year. by doing this complete product renewal with the latest technology, what we are trying to create is to shift the focus
from volume to value and this we are going to do with the three pillars. number one, change the way we do business. number two, change the product. and number three, change the culture. and as a result, we are going to focus more on the retail sales and in the last four months we have demonstrated that the focus on retail sales is bringing more and more value and boosting our brand image in the united states. maria: well, the product changes certainly will be critical. there is a movement now of people wanting you to be ceo, according to reuters, sources within the company have been pushing for you to take over as ceo. the sources telling reuters they would want a, quote, natural transition with you sharing the tie tile wit -- title with the current ceo. do you feel have you the autonomy you need or do you feel that you're answering to many
chiefs, given the japanese government and its feelings about nissan being the jewel of the country. >> well, nissan next has been prepared and being executed under the leadership of ceo and coo with the complete management team. and as far as i'm concerned, i have two missions. number one, to recover nissan and number two is to protect nissan. with these two missions, we are moving forward as one team. maria: you know, we saw what happened with carlos ghosn. he obviously wanted to merge mitsubishi, nissan, and renault. and had real pushback from the japanese government and later he told me, look, if you're not japanese, you are going to have -- you're going to face problems running one of the leading companies in gentleman a japan,t the way it is with the government. ashwani, your heritage is
obviously indian. do you face pushback from your chairman, from the japanese government, in terms of moves you want to make? who you ever merge nissan with mitsubishi and renault? >> well, my appointment in nissan is not a surprise because i'm the oldest person in the alliance, having spent more than 15 years in all the three companies, starting from renault, then nissan, then mitsubishi and then back to nissan. the second thing is, i do believe that alliance is a tool to boost the performance of each company and i believe in the principle that the three companies should keep their brands distinctive and their p & l distinctive and alliance should bring performance to each of the companies and this principle has not changed in nissan next and we are moving
ahead with that principle and this is where we aannounced our alliance plan just one day before we announced our nissan next, so that we clearly give the message that's how we want to utilize the alliance in our nissan next. maria: we'll be watching, ashwani. thanks very much for joining me this morning. we will certainly be watching the developments at nissan. ashwani gupta joining us there. a major health warning to report, florida is on high alert this morning. a deadly brain eating amoeba identified in the state. we take a look. take me back to the ballgame. the shortened major league baseball schedule is out. it is making a buzz this morning of. you're watching "mornings with maria" live on fox business. ♪ i feel so good if i just say the word. maria: this week on "mornings with maria," tomorrow, left wing
activists continuing their push to defund the police. rudy giuliani on the consequences. thursday, the all important weekly jobless claims revealed here live as we follow your money. friday, dallas federal reserve president robert kaplan on the stimulus he believes the economy really needs now, that's all right here on "mornings with smaria." or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.
get money, the program helped -- designed to help struggling small businesses during the covid-19 pandemic, also aiding the wealthy and well connected. notable recipients include kanye west's brand, the nobu restaurant group, this as lawmakers weigh additional stimulus. joining us now is dean emeritus of columbia business school, glen hubbard. it's great to see you this morning. thank you so much nor joining us. >> likewise. thank you. maria: the program, do you think it worked? >> i think the ppp program was a very good idea that tried to keep people tried to their jobs. i think it did work in terms of keeping employment higher than it might have been. yes, there are problems around the edges. i think the treasury department and small business ad administration administrated it not as well as they might have. yes, on balance, i think the program worked. maria: what's your take on the economic growth story for the rest of the year?
do you think that we get out of this recession in the third quarter and start seeing growth? >> we're going to see growth. i've been describing this as like a nike swoosh. so you have a sharp downturn and a gradual upturn. i think we're going to see that. we have the low hanging fruit of the recovery, it may be more of a grind many we need a little bit more fiscal support for the economy, for unemployment, for states and a little bit of help from the fed for small and mid-size businesses and their main street program. maria: jon hilsenrath. jon: i want to come back to the ppp question. i want to read a list of some of the entities that got money from ppp. the client of nancy pelosi's husband, an elite private school in washington, d.c. that took obama's children, grover norqist unit, daily caller, kanye west,
the rand institute, you know, there's a lot of talk about draining the swamp in washington. i did a calculation, lobbying spending in d.c. is up at a 3.6% annual rate in just the last three years outpacing inflation. has the swamp actually been drained in this town? >> well, of course it hasn't. and the cases you mentioned are a problem. but you have to ask yourself with ppp, if we had put extremely narrow and strict rules, we wouldn't have got it off the ground very of fast. we're in the middle of a crisis. i think congress understood that and relied on firms to self-certify. there are anti-fraud provisions and some people who received funds may be in trouble. but this was always a risk of the program, for sure. maria: what about this covid-19 weekly unemployment boost? that's set to expire at the end of the month. should it be extended? >> no. the $600 was too much.
it really made not working better than working for many people. in an aspen institute economic strategy group report, i and some co-authors suggested actually boosting unemployment insurance but as a percentage of wages with a number much less than $600. i think we need some help but the $600 wasn't targeted very well. maria: yeah. i mean, obviously it's encouraging people to stay home and getting paid more being at home than they are on the job, why would you give that up any time soon? >> exactly. during the shutdown that may have been less of a worry. now that we're reopening and trying to get people back to work it's definitely a worry. so in the aspen report, we suggested reforming that but also really strengthening low wage work through the eitc. there's much we can do, but not the $600. maria: glen, thank you for your insights this morning. coming up, walmart summer camp, featuring neil patrick harris,
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tick, tick, tick, time for a wrap up. a medicare supplement plan helps pay some of what medicare doesn't. you know, the pizza slice. it allows you to choose any doctor, who accepts medicare patients... and these are the only plans of their kind endorsed by aarp. whew! call unitedhealthcare today and ask for this free decision guide. maria: welcome back. time for the morning buzz. first up, baseball is back. the first mlb game of the shortened season set for july 23rd. world series champions washington nationals host the new york yankees. jon, are you excited? jon: i'm excited. i love to see baseball, even more i'd love to see my son play his football season this fall. to tell you the truth, given what's happening with this second wave of coronavirus, i'll believe it when i see it.
i don't have high expectations that this is going to get back to normal. i hope it does. i would love to see it. but it's just hard to have high expectations right now. maria: yeah, it's hard to know with the second wave talk, that's for sure. how about this, camp is in session at walmart. many outdoor activities canceled this summer, the retail giant is hosting a virtual summer camp with neil patrick harris as the head counselor. starting tomorrow, camp by walmart will feature celebrity guests such as lebron james, drew barrymoore, will help host different activities for kids at home, up to 200 activities will be available on the walmart app. michael, are you signing your kids up? michael: yeah, i'm pretty psyched about it. i think my oldest daughter -- i have three -- is a broadway fanatic. she will be excited to see that idina menzell is giving singing lessons.
walmart is doing pop-up drive-in movie 2450 thee percent. maria: it is a good idea. will people say i like what walmart did for my kids in summer camp, i'm going to use the walmart app to buy stuff and increase its profile. michael: yeah, it's a smart strategy, kind of like mcdonald's with happy meals. you get the kids hooked when they're young. it will create goodwill for walmart and its shoppers. maria: yeah, exactly. lastly, how about this, justin timberlake is joining a list of celebrities including taylor swift and reese witherspoon, calling to remove confederate monuments, writing on instagram that his home state of tennessee is, quote, home of many, many confederate monuments. he went on to say if we plan to move forward these monuments must come down. like a calling card, dagen. dagen: i am so glad that justin
timberlake weighed in on this. this is one of the most important voices in america that we had not heard from. you know, people might actually pay more attention to him if he sang. he sang his message and what he means. confederate monuments are one thing, many were put up throughout the south during the jim crowe era as a symbol of white supremacy. if local towns, communities, states, want to have conversations about how to take down the monuments and what to do with that, that is one thing. let's not forget, what is going on in this country is not just about confederate monuments, you've seen the decembe desecrae knocking down of frederick douglas' statue, george washington, vandalism of a memorial to the first african-american union soldiers. let's remember, this is not just about confederate monuments, it's about not knowing history and trying to destroy what people don't understand. maria: yeah. what a real shame, i'll tell
you. still ahead, former nebraska senator is here to talk about particular toke and the state of the 2020 race and i'll speak to the ceo of parler on the site's surging growth. you it's all coming up right here, "mornings with maria" is live on fox business. need? given my unique lifestyle, that'd be perfect! let me grab a pen and some paper. know what? i'm gonna switch now. just need my desk... my chair... and my phone. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
. maria: welcome back. good tuesday morning. thanks for joining us. i'm maria bartiromo. tuesday, july 7, top stories right now 8:00 a.m. on the button on the oaks, big tech takes the stand against china's crackdown, on hong kong's freedom google fake twitter saying they will not release user economic data to hong kong law enforcement. of them tiktok planning its pulling its app from the city as well, this is the u.s. looks to ban, tiktok, another china-based social media app, coronavirus cases still rising at alarming rightly dr. fauci warning we are knee-deep in the first wave new york reopening other areas
including los angeles, miami, have reversed course, markets pulling back this morning after a big rally yesterday, look we've got a triple digits decline dow futures down 205 points nasdaq down 1 s&p futures right now down 20 points hour and a half away from the opening bell this after a strong rally kicked off the weak yesterday pushed nasdaq to yet another recorded high nasdaq unchartered territory 10,433 again yesterday 226 points who dipped biopaycheck he protection program law offices big girl souths pf if chang canny west clothing company restaurants backed by de niro causing controversy. >> crime in major u.s. cities gave governor declared state of emergency in georgia o deploying national guard a weekend of violence in lat atlanta parlor as he alternative to twitter ceo will join me half an hour don't miss that coming up, "mornings with maria" is live, right now.
. . . >> global markets, under selling pressure take a look at european indices across the board ft 100 right you now down 87 cac quarante down 46, dax down 150 points eurozone heading toward a deeper recession than early predicted european union commission for beinging record contraction 8.7% in 2020 next year expecting a rise over 6% so are looking at growth in 2021, in overnight markets are mostly lower except china where stocks rows again, following monday's big rally, after a state-run media reported that china needs a healthy bull market is ready to add support to attract investors shanghai composite up another third of a percent hang seng hong kong indices down one and a third wrz dagen mcdowell, jon hilsenrath michael kantrowitz thanks for being here. >> great to be here.
>> and here. >> top stories we are watching this morning, now leaders in major u.s. cities are vowing to get crime under control, after a velt weekend, georgia governor kemp says he will deploy 1,000 national guard troops after at least 30 people shot in atlantaover weekend five killed including 8-year-old girl a video reported showing a man holding his daughter whose hand as gunned down new york city mayor de blasio says unacceptable playable ub tick in violence on coronavirus. >> up 205% in new york make can go decision to disabout an plainclothes anticrime unit in new york shootings up better than 200% white house ready to play a loernl role in debate how to address violence adding country needs to focus on securing its streets. . >> mike pompeo says trump
administration may ban chinese social media apps, including tiktok,weighed in on fox news. >> what we are certainly looking at it we worked on this very issue for a long time. >> would you recommend that people download that app on phones, tonight, tomorrow, any time -- currently? >> only if you want your private information in hands of chinese communist party. >> tiktok says it is leaving hong kong market after china improved a security law the app trying to distance from china how you if the a chinese company that includes naming an american former disney executive mayer as ceo the current ceo of tiktok. . >> facebook, twitter suspending requests for data from hong kong o government, after china recently approved a controversial national security law, the two companies say that they are reviewing the implications of a new law gives china sweeping
powers, to crack down on descent in hong konging. >> hong kong police made fird easiest under new lauten people detained. >> he seattle city council approved a payroll tax on big businesses that pay highest soorlz target companies with annual pay trolls at least seven million dollars, salaries more than 150,000 dollars, lawmakers estimated plan called jump-start seattle will of raise 214 million dollars a year, the money would be used for covid-19 relief, and to build more affordable you housing. >> chinese technology secretary of state pompeo said u.s. considering banning tick to go chinese social media apps less than a week after sec he is he isolated huawei bte national security threats dagen mcdowell, your reaction, do this, i want to get your take on what is going on in terms of security threats in china, coming from china also get your take, on what is going on in the cities across
the country, i tweeting over weekend that we saw this coming in new york you and i were railing on new bail reform law, for two years now, we saw the security now look at 64 people shot in new york city during 4th of july weekend according to police dagen. dagen: you mentioned in news mayor bill de blasio is blaming recent events with coronavirus shutdowns, in new york city, no. this is the policy that has been put in place, by liberal leaders. here in new york city, and in other places, across the country. the "the wall street journal" editorial that i know you tweeting out over the weekend, called new york's cop-out goes through what has gone on, since mayor bill de blasio took over the nation's safest big city, now it is a hellhole because of him because of other leaders particularly governor cuomo i go through a couple things city council eased law laws about quality
of life, public urination manhattan d.a. no longer prosecuteing those, are governor andrew cuomo bail reform no bail for arson hit a crimes man slaurlth assault of a child under 11 no bail picked up with released over and over and over again criminalize they won't call them that in if weeks you have had police department dismantling anticrime you be the rich liberals have security protection rich folks can get guns they can get a carry permit they have security detail traveling with them, meanwhile, people who have no way of protecting themselves being victims of crime, all across this city and all across other disgrace
full what politicians the done to american people. >> you are right the gun violence is continuing to kill, being can you believe making sure de blasio blaming covid-19? 160 people dead. gun violence in holiday weekend 64 people shot, just during the violent 4th of july weekend he is blaming covid-19. dagen: man shot holding the hand of a child in the middle of the street, in broad daylight, by the way, in new york city, you cannot carry a gun, if you are you a private citizen secretary amendment does not -- you can barely keep a gun in home only reason the city changed the law state changed the law to avoid supreme court hearing that case, it did hear did not make a decision on it because the law was changing, but you it is basically, unless you are a rich celebrity, you cannot get a carry permit here in new york, i can protect miles
myself c coronavirus wear ab mask people distance from other people but in terms of the crime happening in this city,ure another the mercy of criminalize who have been coddled by cuomo and de blasio and their ilk. >> new york -- feel like a different city to me, jon hilsenrath, when you look at the violence, across the cities, whether new york, chicago, atlanta, don't you think that that is going to elongate what has been a very tough economic story for these cities? due to this recession and shutdown? i mean, it is going to ache make it in a much more difficult to actually get growth real estate prices plummeting people are fleeing new york right now. >> well there is no question that safety is a fundamental factor that led to this renaissance of american cities last 20, 30 years because crime rates fell dramatically, across the country.
including new york, and certainly worrying, one of the things i find that is interesting right now is that this the crime that we're seeing is violent so if you look at murder rates up in new york, up in atlanta up in chicago, up in the baltimore. if you look at robberies they are down i don't quite understand that i don't understand what is behind it if cities in merck don't get keep violence under control, then you know they are going to risk losing lots of gains they had i am not convinced this is pandemic we had in 1980s, 1900s, maria, you and dagen we all he know how bad it was in new york, in those you know, long way from that, but certainly not the kind of trend you want to see right now. >>. maria: yeah, we don't know how far we are from that, definitely just feel different. on the ground in new york city right now with all this tension, around this crime
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action furthermore suggests a targeted approach government health extending employer sponsorshiped cobra coverage or special enrollmentment period for affordable care act. >> i don't think the state sponsor is answer we have seen debate over about medicare people like employer responded insurance. >> debate will likely continue maria but the stakes will get higher this fall as more people search for coverage. maria. maria: are all right, gerri. willis on health care, slip in a break when we come back markets to triple digit loss start of trading this morning after a record run yesterday what is driving markets dow futures down 212 points this morning, then big break nascar star has new deal much more ahead stay with us. ♪ ♪ o ♪
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maria: welcome back taking on chinese tech the secretary mike pompeo said last night that u.s. is considering banning tiktok other chinese social media apps, tiktok released a statement to fox business saying this, tiktok is led by american ceo with hundreds of employees key leaders across safety security product and public policy, here in the united states we have no higher priority than promoting a safe and secure app experience for our users we have never provided user data to the chinese government nor would we do so if asked joining me right now he former nebraska center alan and company managing director are former navy seal norm 911
commission member bob kerrey thank you so much for being here. >> nice to of so many of formers in front of titles. >> we have been talking a lot last several days weeks about china, and about the national court threat. when you hear tiktok say look even if we were asked by the chinese communist party to give users data we won't do it what is your reaction? >> well, hard to trust the answer, so i don't know would i have to be read into precise information it is hard to take their assurance at face value. maria: it is hard to believe, that they would not be forced to hand over data, i don't care who yee is former executive from disney if ccp comes calling send-data you are going to send that data, and this morning a lot of "wall street journal" firms are talking about this as well
apparently, hong kong has aasserted this new national security law, but when with it policing powers including get this warrantless searches only surveillance property seizures under new security law with city ceo, kari lam saying that will be enforced stringently concerns eased much implementation managed in secret saying a committee created to oversee it would not the release details from future meetings reaction to new security law that is being implemented in hong kong, in china. >> kills freedom inside of hong kong, the desire for just limited democracy capacity to form their own government is i think o little bit o rated xi
jinping has the to an control of the island they can pristined it isn't but they have taken control a source of great strengthen for china, you know for whatever the reason, xi jinping has made, one more overreach in my view. in the end will damage china. >> have yeah. certainly, change hong kong, breaking another promise there let me switch gears to talk domestic issues that is joe biden vice president heating up pressure mounting on presumptive democratic nominee to choose a black woman as v.p. candidate given racial unrest as one vetted to be a pick for bill clinton in 1929 what can you tell us about the process how you think biden will choose. >> a different process today, i mean, 1992, you know we didn't have cell phones with cameras did not have access to all kinds of additional information whether you know
facebook or web sites all that sort of thing you know you could, i can fly down to little rock, you know go inside governor's mansion have a conversation with request him very few people knowing i was there the intensity of the focus is much greater i am sure the vice president's is very much aware that the number about that is most important to him is 270. so he has to get 270 electoral votes regardless of all the other can't you get somebody that has this, that or other characteristic more important thing is 270. my guess is that is going to be a primary consideration. it is also true for both he and president they have to think about i will put it this way, if i or anybody over the age of 70 goes to sleep tonight dies in he sleep the first thing people are not going to say tomorrow morning is that was a surprise. so joe anybody picking a vice president over the age of 70
has to sit there and say, what happens, if -- suddenly they become president of the united states capacity to do it i am sure, that joe is thinking that way in addition to thinking about 27 electoral votes. >> i think you make a great point may very well be o whoever he chooses as vice president will become president. >> how will you go bridging dwi in washington nothing seems to get done each side hates each other. >> there is no question, that more than just partisan it is polarization, that occurred. sort of a stacking on the issues made it more difficult for democrat to move to the middle or republican to move to the middle because they get they get trashd, by thes extremes, if you are going to get immigration done economic
policy right health care right there is a number of issues, where if -- all you do is push a democrat or a republican proposal, you simply not getting the votes you are going to have gridlock frustration with american people. >> of do you think that mail-in voting works? what are other main issues we need to think about going into the election? >> well i think you've got to have i would say two things "the wall street journal" had i didn't recall last week described the simple things need to be done first one is you got to have polling places if people go out and vote there haseb enough polling plays don't stand in line for hours secondly, mail-in ballots arriving start counting don't at wait to day of election to start counting if you do a delay in capacity to announce who winner we were sitting in a situation in new york state. so i think it is really important, that you do the simple things he to be prepared for the election.
maria: senator great to see you this morning thank you so much, sir thank you for -- bob kerrey and to you thank you, sir. coming up major health warning florida on high alert after a detailed brain-eating amoeba identified in the state we are taking a look at that, then, welcome to parler speaking with ceo john matze next how it plans to compete with twitter we talk social media right after this. ♪ maria: welcome back.
good tuesday morning. thanks for joining us. i'm maria bartiromo. it is tuesday, july 7th markets this morning 8:30 a.m. eastern trading lower to look where we stand about an hour away from the opening bell, futures pulling back after yesterday he's rally the dow right now down 233 nasdaq futures down 34 s&p futures down 23, this after a huge day
yesterday, saw nasdaq hit a 24th record close of the year. 1250 under president trump, to look at yesterday's performance nasdaq all-time high, up, better than 200 points, checking global markets this morning red across the board, european indices down, take a look the ft 100 down 97 cac quarante down 58 dax in germany lower by 167 this right here, is the low of the morning for euro eurozone is heading toward a deeper recession than previously thought, according to the eu, in asia overnight markets mostly lower except china stocks rose following yesterday's rally after state-run media said that china needs a healthy bull market is ready to add support to attract investors with that millions of retail investors in china opened accounts as in radar behind bubba wallace after president trump treated herope shaped like a enlistment oose in garage was a hoax. >> president trump suggested bubba wallace should apologize
after nascar rallied around him when that rope was found in garage tell he did he goa super speedway, the question moved to ban confederate flag wallace nascar's only black drir wrote in part, love should come naturally. >> wrote it was not a hate crime had been in garage since october nascar praised wallace for courage leadership, beats by dre showing supporter for wallace new deal with driver a week early in response to the president's comments. >> a victory for native americans after a federal judge you ordered kacota access pipeline be shut down emptied pending environment review judge specifically called out u.s. corps of
engineers sometimes violent during the construction claiming it will the amount the mo river 3.8-billion-dollar pipeline spans more than 1100 miles underground in operation now three years, the environmental review must be done within 30 days a setback for the trump administration efforts to speed up pipeline projects cutting red tape environmental studies. >> fox business.com the kansas city chiefs super bowl mvp quarterback patrick mahomes to ten year extension the richest contract in sports history first time ever nfl player was world's highest paid athletic national p garlic of art purchases first painting by a native american artist, there it is on your screen. finally there is this dunken testing -- coffee with lemonade or other fruit it very manipulate loaded
refreshesh in masters from july 1 to august 18, those are headlines from the newsroom think a to you. >> if together probably be trying that out. >> of course, we would. >> thank cheryl alternative to twit parler launched in 2018 unbiased social media platform free of censorship promoting free speech, parler has grown each year with over 6,000 total accounts last year over two million accounts this year republicans flocking to app reric trump rudy giuliani ted cries rand paul kevin mccarthy, devin nunes the ceo of parler, john matze great to have you this morning congratulations to you. >> thank you. thank you. >> tell me how you are going to keep to all that no censorship, free speech lots of issues around the current
group of social media companies twitter keeps pushing back against president trump, doesn't do same with similar speech from others, who are critics of the president, similar story, with google how are you going to increase and make sure that parler remains free of any meddling? >> well, we've been focusing on real problems trying to drown out a lot of noise that has been going on, basically, our rules are really, clear, and they are with different fcc guidelines, not requirements you don't need to told them we opting into them pornography nude thee off platform but if people disagree they are allowed to talk about it can have a discussion the concept is to create a town square people having roeventh discussion reflects genuine views they can do that without gettinging into this nasty content you
see in other places. >> that is really important point, that you are making. and you are right, we wanted just a platform in 1996 telecom acting pretty much gave the social media companies privilege having a platform as explainer of who they are allowed them to get protection in terms of getting sued, by people, that is obviously, now potentially changinging with doj proposal to remove that protection, assess the situation for us, before moving on to explaining specifically, about parler how do you see the social media situation today? is there truth that there is censorship? >> i think they are censoring, i don't think they believe they are, i don't know that they would admit they are but it is pretty clear behaving like publications that is where the problem comes down to telling you, their open community forum for people
behaving like publications choosing what reaches the audience what doesn't, from that perspective, i think that is why it is created a lot of political you know problems for them. that is why it has been getting worse and worst and to be honest, we are kind of probably a good thing for them because, i know shows that there is a marketplace where people can choose different platforms that we can effectively get into this market, and make a splash, when has been really nice this year even last year too. and so, in a way, this is really the answer to a lot of those problems. >> yeah, i will tell you, i joined, i am will now -- at on parler, but how do you keep this app from becoming the other side? of twitter or essential a trump rally? that was a criticism raised in a recent article in politico, how do you broaden out user base and tell us your business model how do you make money?
>> well, frankly a lot of these media outlets like to write articles about us like that unhappy we have such a large audience now that politico article i think was very unfair we have a lot of people coming on different viewpoints because they are kind of tired of sitting there, going you know look at this this is where all people want to argue with are in debate so they are going to join, and you are seeing diversity as a result of that in terms of monetizing, seasons i last kind of spoke about it, we've seen a tremendous amount of interest in the advertising the only thing we haven't done is actually been able do sell them because we've been too buzz focusing on growing our platform. we have scene up to 50,000 dollars a day in ad sales great promising but, you know, as we grow this is going to get earn better bigger, as we continue to make this more advanced ad in issuing going to be very, very nice for
people. >> so tell me what growth plan is how do you continue to grow in the coming five years? what is the strategy? >> well i am focusing on near-term right now big thing we want to make sure, that the services foot of working well that everybody gets to reach their audience. and as long as we can provide that, within next you know year i can see us growing another 10 x, from current capacity especially political situation online censorship twitter facebook, all other places they continue to hamper down cures to see what is coulding to happen with political ladders want a fair discussion this is not just in united states, last week we had large influx of people from brazil president of brazil joined our platform, you know now we've got netanyahu joined us from israel a lot of people from different countries around the world not just united states
experiencing same issues with twitter, ot big tech companies. the. >> it is crazy to know, that you post something, and thin don't see it for days, in some cases. is that shadowed banning they say that they don't shadow ban it feels like something is going own they blame things on the algorithms but honestly john somebody is promising those algorithms. >> there is inherent bias whoever program the grimm probable a handful engineers, very small subset of people that are actually writing that code, if not very careful don't hyper focus on keeping it really clean and pure, they are going to have issues, liking what we did as many chronological the idea you opt into what you see a lot of these other companies what they like to do is trigger reprioritize news and feeded by a off when they think you want to see, in order to give you quote up "a better user experience in reality what it is doing kind of creating this
concept that if they don't think other people want to see your content it is not going to show up to other people so you are o not going to reach your audience who opted in to following you. >> exactly right so you just named a number of high precisely people, who joined parler do you feel you are getting a group liberal voices as well as conservatives do you feel you are broaden out to broader public. >> i think we are. i don't think as quick obviously, but we are seeing a lot of people coming on there and some are just the there to make that nasty comments about how awful we are tell us their organizing groups to make bad reviews for us i have seen that, too, unfortunately, but we also get some people coming in going look at why are people joining i want to have a conversation with them i want to find out what they are talking about what they are trying to do, and they are coming in so there is genuine interest as well not just -- just in conservative community, but i think it is
going to be a little bit of a long term before they really start joining in more mass. >> have i know that you know most conservatives want to see this problem fixed by marketing share by capitalism markets working you are obviously, taking market share we will be watching john congrats to you we hope you come back soon, thank you, sir. . >> thank you. take care. >> john matze joining us parler.com, fox business alert united airlines warning of potential furloughs due to travel reduction according "wall street journal" the airline says boogdz began to slide in june after new york, new jersey kent announced a 14-day quarantine from a variety of coronavirus hot spots stock down 3% right now on this news, united airlines going to be one to watch this morning, with a decline of better than a dollar a share coming up the state of unemployment, people getting more money from the government, than from working taking a look at that you are watching "mornings with maria" live on fox business.
morning. >> good morning, maria. . what we're seeing is months of lockdown for a lot of these businesses now facing a new he predictment struggling to find workers like you said in front of morgan williams new york grocery chain many he former employers are taking advancing says 16 locations across entire city, he said that many employeesr trying to file for unemployment benefits even though they do not qualify this comes when he is struggling to find workers, listen in. >> over the past four months, we have let go, maybe three or four people total. can you imagine that three or four people total in entire chain of 1200 people. we now of 600 unemployment claims. 160 have already been paid you know just mind-boggling.
>> if employee gets fired or is like other reasons do not qualify for unemployment benefit neither if yet if they get them can be considered fraud we reached out to new york state to get in a information about this particular store and they responded saying quote unemployment benefits are a lifeline for -- noers who loss jobs unacceptable that dis honorest individuals could seek to defraud the system for gain make no mistake attempting to cheat unemployment stitch is a crime we investigate all reports of fraud. americans may be staying home because, of course, of health concerns care giving combined income of benefits is more than income before the pandemic we know that a federal government is giving out 600 dollars, are at state level varies minimum amount in u.s. -- are 172 dollars economists at university of chicago found 70% eligible workers are making more money
post pandemic off those benefits than before we have a situation even in texas maria i'm going to end with this, about 46,000 texans asked to give back unemployment benefits, to the tune of 32 million dollars, because they either received it because of error or because of fraud, so this comes at a time when trying businesses trying to rehire o o workers deal with paperwork unemployment claims possibly have to deal with increases in unemployment insurance rates all at a time when doors are open, but business far from pre-covid levels, back to you. maria: that was incredible sound bite that you played from the morton williams ceo they laid off just three people got 600 applications! for unemployment benefits kristina partsinevelos, in new york city, this morning, coming up a major health warning florida on high alert this morning after a detailed brain eating amoeba identified in the state we are taking a look when we come right back. stay with us. i got an oriole here.
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maria: welcome back, are coronavirus not only worry in florida, this morning, issue officials there have issued a statewide warning, con firming a case has very rare deadly brain-eating amoeba, typically found in warm freshwater lakes rivers ponds joining us right now family medicine doctor, great to have you this morning thanks very much for being here what should be we aware of. >> first things to know this is an amoeba not a virus not a bacteria you are right found in warm freshwater lakes rivers as i mentioned can also be found in swimming pools not properly maintained, even hot springs the think you mentioned is it is sort of a brain-eating amoeba a condition called primary
amebic encephalitis, are brain infection through nose into body travels to brain driveways brain one of the really sort of tragic about this this is a deadly condition over 97% fatality rate it is rare that is a good thing to know. maria: so you said that it goes into the nose, how do people get infected? have just a sneeze or a cough? and is there a cure? >> that is a great question, so, i can't get this contaminated water or anything like that can't get from oceans again, it is freshwater typically acquired from swimming or diving in warm bodies of freshwater what happens sort of that force is going into the water, about when water goes into the nose that is what allows that amoeba to travel into the brain, the way that we want you to prevent it had been you can you can would i warm bodies of freshwater right swimming doing activities in
lakes rivers, et cetera, things like that, but, also, other ways prevention holding your nose trying to using nose clips things like that nothing is necessarily one hundred percent, this amoeba is found in lots of bodies of watered, once again, the good thing it is very rare, cdc says only 145 recorded cases between 1962 and 2018 but on flip side is a mentioned before this is over 97% mortality rates of 475, four survived the treatment for not the best i still think a work in progress the most important thing for people to know,s is that they have symptoms nausea vomiting headaches hi fever seizures mental status changes dizzy confused symptoms that are not right after swimming or any other time you need to see your doctor promptly. >> you said that this also could happen in pools that are
not maintained. so what does that mean for chlorine? in the pools? have summertime so ti c.k. season experts fearing unusually bad season amid coronavirus talk to us what we are dealing with in terms of summertime chlorine in pools tick season. >> most important for those having pools or local pool things like that important for that pool to be o properly maintained means making sure properly cleaned about about disinfected color in aitdz it is when not proper maintained we get concerns for amoeba other things tick disease lime disease, rather avoid ticks wear bug spray all prevention are really, really important for summertime. >> all right, great to get your insights thank you so much we will see you soon, thank you quick break and then more "mornings with maria"
maria: welcome back. markets down about 200 points. opening bell about 30 minutes from now. dagen, jon, michael, great to see you. thank you for being here. >> thank you. >> thank you. >> thanks. thanks, maria. maria: have a great day, everybody. that does it for us. "varney & company" begins right now. ashley webster in for stu this morning. take it away. ashley: thank you very much. good morning, maria. good morning, everybody. we have big news on the vaccine front. simply put, the race is on. let's begin with novavax, surging after receiving $1.5 billion in funding from the government. they are aiming, by the way, to get 100 million doses of their drug out there by the end of the year. elsewhere, regeneron getting nearly half a billion in funding. they are working on a treatment and vaccine. doc siegel joins us in a moment with more on the race for a treatment, a vaccine and all the other issues going out there this morning. that newsy