car? -michael: that's my car. lemonis: ...success has spawned a whole new set of challenges. michael: the entire future of the brand is based off of my vision. richard: that's something i'm not so sure of. lemonis: the owner's son is pushing for a piece of the pie. michael: i think 7% to 10% would be more than fair. lemonis: but his cavalier attitude isn't helping his case. michael: who cares about a $10,000 up-front cost? lemonis: i think we all kind of care about the $10,000. and now a family feud is brewing in the business. richard: what's important to me is the most important thing. michael: you're not making any sense. you're making stories up! lemonis: if i can't help this young man mature as a leader... don't be frustrated. michael: i'm very frustrated. lemonis: ...and get both sides back on the same page... richard: if we bought -- if we bought -- -michael: i got this. -richard: you got it? okay. lemonis: ...mr. green tea's growth could melt away. if michael told you that he was gonna leave, what would you say to him? richard: i guess i'd ask him when he was leaving.

pursuing expensive side projects. michael: we have corporate events, weddings. we did a television station. lemonis: ...leaving his wife and partner at wits' end... ramona: i have to cross every "t," dot every "i." lemonis: you mean do the work. ramona: yes. lemonis: ...and his daughter questioning her role in the company. taylore: it's tough when you have all these ideas, but you get this war in order to implement them. michael: you can't throw these away. lemonis: if i can't find a way to get him focused... michael: shake it! lemonis: ...and help his daughter come into her own... i know you're capable of more. ...this great family success story may not continue. my name is marcus lemonis, and i risk my own money to save struggling businesses. we're not gonna wake up every morning wondering if we have a job. we're gonna wake up every morning wondering how many jobs we have to do. it's not always pretty. everything's gonna change. everything. but i do it to save jobs, and i do it to make money. this... let's go to work. ...is "the profit." ♪ in 1994, michael and ramona woods launched ash

and the rising u.s. china tension. take a listen. david: michael evans, the president of alibaba. welcome, michael. michael: thank you, david, nice to be with you. david: where are you coming from? michael: you are getting me in canada where my -- where i have spent a couple of time -- spent a lot of time. david: i should disclose that people who don't know michael well that michael is a canadian, but he also is beyond being a business executive, he was an olympic athlete who won a gold medal in the 1984 olympics. what was that like to win a gold medal? michael: well, the thrill of victory, for sure. it also, very emotional experience. and full disclosure, i did it with my twin brother in the boat well. that was a particularly unusual and unique moment in our relationship and for our family. david: so you are still a rower, do you still row for fun? michael: casually only. david: ok. let's talk about the company you are the president of. some people might be surprised that a canadian is the president of alibaba, which is well known to be a chinese based company. just give us a li

let the case languish other than what was happening to michael cohen. and when federal prosecutors in that office announced months later that they wouldn't be doing any more investigating around the hush money thing, they wouldn't be charging anybody else with any crimes related to that hush money thing, it would be michael cohen alone who got in trouble for that even though prosecutors admitted in open court, he didn't benefit from the crime. he did the crime for the benefit of the president, at the president's direction, even though the crime involved the president's business being used as a false front to move the money, even though it involved a lot of other people as part of the scheme, federal prosecutors said it was only michael cohen who was going to have to do any time or even be charged for it. when federal prosecutors made that announcement about a year ago now, this time last summer, it caused a lot of worry and consternation about whether or not attorney general william barr had successfully leaned on that prosecution in order to protect the president and his interests

players. james worthy, michael jordan, a lot of the great successors in north carolina have come from black players. it was certainly all in the form in 1910. when the acc was formed in 1953, that set in motion what is now known as acc basketball. about four years into the acc carolina went 32-0, undefeated national champions, beat wilt chamberlain and kansas in triple overtime. that game changed college sports, it changed sports here at the university of north carolina, and it certainly change basketball in the acc. when north carolina won that national championship game, there were 10,000 people at the airport when they came back. it was the first televised game in the state of north carolina, the national championship game. so for a lot of reasons, it took off in the 1950's with that national championship team, some of the great tar heels from that team. from that, coach smith, dean smith began his program five years after that and became the winningest coach in college basketball history and is a legend in chapel hill. dean smith was our head basketball coach from 1961 to 1997. wh

abramowicz and tom keene, i'm jonathan ferro. with your economic data, here is michael mckee. michael: the july report on empire manufacturing from new york turns positive for the first time17.2, a significant ie there. we see new orders, production, and even employment. that is new york. what is happening in pennsylvania? joining us is patrick harker, the president of the philadelphia fed. good and thanks for joining us. i mentioned new york. what is happening in pennsylvania? we have seen the covid caseload start to rise there. can you give us a feel for what is happening in your district? looks like we are having a little bit of trouble with patrick harker. let me bring in jonathan and we will see if we can get pat with us in just a second. jonathan: we will get back to you as soon as we can get that connection sorted out. pat harker is standing by quite visibility. the s&p up. mike mentioned the empire manufacturing number in new york city for the month of july. a big upside surprise. i wonder how much divergence we are set to see in america given what is happening across

. it is a pleasure to meet him. michael. a graduate of harvard and yale law school. spent two years at yale while president bush was there as well. their tracks did not cross then. the senior political analyst for the washington examiner. a resident fellow. he is also a fox news channel contributor and co-author of the almanac of american politics. he has written for many publications including the economist, the new york times and the sunday times of london. previously a senior writer of u.s. news and world report and a member of the washington post editorial page. please give him a warm, warm welcome. [applause] >> thank you very much. it is an honor to be here. an honor to introduce the 43rd president of the united states, george walker bush. [applause] >> thank you all. please be seated. michael, before we begin, i do want to thank you for the leadership of the miami community college. i had the honor of giving the graduation speech year when i was the president. i am thankful that you invited me back. mitch, i also want to thank you for promoting literacy. as a new author, it is i

happening to michael cohen. when federal prosecutors in the office announced months later that they would not be doing any more investigating around the hush money thing, they would not be charging anybody else with any crime with the hush money thing, it would be michael cohen alone getting in trouble for it. even though prosecutors admitted that he did not benefit for the crime, he did the crime for the benefit of the president, at the direction of the president. even though the business was used as a false front for the money and involved a lot of people as part of the scheme. federal prosecutors said it was only michael cohen who was going to have to do time or be charged with it. when federal prosecutors made that announcement about a year ago now, this time last summer, it caused worry if attorney general william barr had protected the president and his interests. when sdny announced that they had dropped everything other than the michael cohen prosecution, the hush money thing was dead, it sparked worry that attorney general william barr intervened and now we know he did. it

directed the commission of those felonies and on whose behalf those crimes were committed. michael cohen, the guy going to prison for those felonies, he went further in court when he was being sentenced and just flat-out said that he committed those crimes at the direction of the president. while the federal department of justice has concluded that it can't bring a felony indictment against somebody while they are actively serving as president. two things. first, he's not going to be serving as president forever. and, second, new york state prosecutors are not bound by the same rule. and new york state prosecutors are right now seeking to execute subpoenas for the president's personal and business financial records in a case that is believed to be, at least in part, about the president directing the commission of those crimes for which michael cohen went to federal prison. also specifically using his business, the trump organization, to basically launder those illegal payments in an attempt to cover up the crime. so this is a live case. this is a live criminal case that directly in

beginning. here's abc's victor oquendo. >> reporter: this is the moment that michael mullinex and his family feared would never happen, the moment he could finally leave the hospital. michael spent 49 grueling days in a georgia hospital, battling covid-19 after all eight of his family members contracted the virus. michael's mother connie in anguish during this time. >> my youngest son marshall junior got it for three days and he was fine after that. me and my husband and my son got the worst case. but michael had it the worst than we did. >> this is what michael looks like right now. >> reporter: for three weeks, the 22-year-old was placed on a ventilator, fighting for his life. i know it's tough, but watching michael go through that as a mother, what's it like? >> you never thought you would see your son with all the tubes. i have a picture of him and his brother that i would put under my pillow, and i didn't want to close it until he got home. >> reporter: the former high school football player had no preexisting conditions, adding to the mystery why the virus seems to hit some hard

to a discussion of precious metals in china and the rest come with michael shaoul of market field asset management. he has a wonderful, holistic view of what we see in the market. what do these low yields signal to you? michael: there's just a persistent bid at the long end of the treasury curve. a lot of economic uncertainty, and i think a lot of bond investors feel that if inflationary pressures started to build in the fed would misbehave, the yield curve is under control. has the incentive to maximize duration under those circumstances. tom: i think michael nailed that right there, the idea of a yield analysis where you switch to price where it is just about people bidding up the paper. jonathan: betting against the fed then is betting for a steeper curve. with that be right? michael:? my think that is the case. i think under some circumstances, you may have a here is thee, but power of fed forward guidance in the sense of what is going to happen. i would add a caveat. if genuine inflationary pressures start to become obvious later this year or early next year, i think you are

>>> welcome. >> welcome. >> the michael smerconish program. >> thanks so much for being here. >> it was 30 years ago tonight that i marked the beginning of my career in talk radio. ♪ i don't know why i came here tonight ♪ ♪ i got the feeling that something ain't right ♪ ♪ i'm so scared in case i fall off my chair ♪ ♪ and i'm wondering how i'll get down the stairs ♪ >> i host a daily radio program that bears my name. i have a weekly telephones cable program and i authored seven books. i'm pleased with those achievements. but i am far more proud of what went into them ♪ clowns to the left of me, jokers to the right ♪ ♪ here i am stuck in the -- >> of course i talk for a living. it's always been my calling. and not because i'm a lawyer. not because i have a background in politics. in retrospect, i guess i just wanted the attention. ♪ >> rolling. >> it is going to be good. make that soft. >> i think you need to go back this the copy a little bit. in anticipation of this next move we are going to redo some stuff. >> you know what they say about the best laid plans

, mary. >> reporter: good morning, michael. while this is a major shift for the president after dismissing the severity of the crisis, he is now changing course. stepping up calls for americans to wear masks and acknowledging this pandemic is a growing threat. after downplaying the virus for weeks, the president came before cameras with a blunt assessment. >> it will probably, unfortunately, get worse before it gets better, something i don't like saying about things but that's the way it is. >> reporter: the change in tone comes as trump's advisers are warning him he'll likely lose the election in november unless he can convince voters he's taking the virus seriously. >> it's been reported by the president's staff that the president is, quote, not really working this anymore. he doesn't want to be distracted by it. doesn't want to be distracted by it. he's quit on you and he's quit on this country. >> reporter: as the death toll climbs and infection rates reach record highs, only now is trump urging americans to do what he himself has been seemingly reluctant to do, wear a mask.

if it just 51 votes. they're in disarray. >> let's get right to it with juanita tolliver, michael steele, the former republican national committee chairman, and the content executive for a former vice news washington, d.c. bureau chief and msnbc contributor. good to see everyone, michael, there is republican infighting here. and while you know many things, that is something you know about. >> oh, yeah. we fight amongst ourselves very well. let's just be clear about what is at stake here. these are individuals who are arguing over whether or not americans will be able to pay their mortgage next month. will be able to pay their rent next month. these individuals are seemingly unconcerned about the fact that come friday, they may not be able to afford health care any longer. the fact that we're having this debate in the middle of this crisis, something that was foretold. this is not something that snuck up on us. this isn't something that, there was a meeting yesterday and they said, you know what? we're going to have a financial problem come friday. so when they passed it originally

. michael: you can't do that. with the new fda laws, you'd have to test that those chemicals aren't breaking down the plastic, which they probably are. lemonis: now he's letting down his customers... carolyn: there would be like five flavors out. lemonis: that'd be like going to baskin robbins or 31 flavors and them saying, "sorry, we only have 20." ...he's letting down his employees... ovie: it'd be nice if my own opinion mattered. lemonis: it'll be a giant [bleep]show unless you guys are on the same page. ...and with a new baby at home, he feels like he's letting down his family. tony: my wife, steph, is an absolutely trouper. she's so understanding, but i know she deserves so much more. lemonis: if i can't help him see what he's done wrong... tony: i guess i just had visions of grandeur. lemonis: ...and where he needs to go next... i want to literally start new. ...this business will evaporate. tony: this is a little -- can we get off camera for this? this is, like, crazy. lemonis: my name is marcus lemonis, and i risk my own money to save struggling businesses. we're not going t

viewers, here, in the united states and all around the world. i am michael holmes and this is cnn "newsroom." >>> welcome, everyone. we may have just seen the worst day, so far, in the coronavirus pandemic. the world health organization, reporting more than a quarter of a million new infections, globally, in just 24 hours. the most ever in a single day. that averages out to more than 10,000 cases, every hour. the total is now beyond 14 million cases, according to johns hopkins. more than 600,000 people have died. the u.s., still, by far, the worst-hit country. new cases, on the rise in more than 30 states. and down in just one. a local official in florida says that people at the top are not sending the right message. >> when we talk about opening things, the governor and the president are all for it. they send us mandates about opening up schools. but when it comes to closing things, which is the tough medicine we're asking people to follow. and making sacrifices, by wearing masks. it's likes their voices are nonexistent. >> now, that was the mayor of miami beach in florida. a sta

school. dr. caplan, what do you think about opening the schools? >> thanks, michael, for having me. it's a gigantic experiment. we've had this virus for four months. we don't know what the impact is in terms of children. and we don't really understand how infected they are, both to each other, to teachers, bringing the virus home. so, you're asking kids to go back, who can't give permission, can't make the choice, and i think the first order of business should be safety. not let's go back to normal. >> what concern, of what consideration, if any, based on what i'm hearing you say should economic factors be? if their parents are unemployed, unless the kids are somewhere else, should that be factored into the mix by policymakers? >> well, i don't think you ask kids to sacrifice so that their parents can go back to work by going to school. if it's babysit that you want, if it's day care that we need, let's set it up in safer conditions. you know, michael, schools are not set up to be a place of social distancing. a lot of them have kids crammed in, 30 to a small room. for little kids

idealists like michael crooks father. but i assure you my father's 1st destination was john i don't see how he wanted to meet these great people that he had read about. like mounted on a joy and not with the obvious either. in 1939 michael's father david met canadian born isabella brown they married soon afterward the couple worked for the communist regime as language teachers for diplomats and other officials. my nama is me mimolette my name is mimi miller nine's i was born in china in 1950. 5 my father was hans muna who was german. because he was half jewish he had to flee nazi persecution in germany and in nazi died she learned. in 1933 the nazis seized power in germany after graduating from high school and miller escaped from a labor camp and fled to switzerland. while studying medicine at the university of basel he formed friendships with leftwing classmates including some international students from china. at the time china was fighting against japanese expansionism a chinese friend suggested that hans millar go to china and support the communists . after graduating from unive

, michael brown and hundreds of other young african-americans whose names are being chanted in protests nationwide, malcolm scott wants his story told. >> because if we don't know it exists how can we do anything about it? >> reporter: his story starts like so many other black lives that have struggled to matter. raised in poverty under the watchful, suspicious eye of the police and destined to a life of run-ins with the law. but at its heart it's a story about two brothers -- malcolm and corey, and a bond that could not be broken, not even in the face of unimaginable odds. >> reporter: what was it like growing up in north tulsa? >> oh, you felt like you were always home, you know, familiar faces always around you. >> reporter: large family, too, as i understand it. >> yeah, 12 brothers and sisters. >> reporter: 12? >> yeah. so yeah, it was crowded. [ laughter ] i was really big into sports, like, i love, you know, me getting a hold of a football in my hand and running was, like, you know, life. >> reporter: malcolm caught the football bug from corey, who was his older half-brother and

reimbursing michael cohen hush money paid to stormy daniels during the 2016 campaign. we have an all-star panel to kick things upoff for us. kara lee at the white house, indica katie tur and for expert and analysis on all of this, joined by msnbc legal analyst neil catiel, served as solicitor general in the obama administration and analyst and former missouri senator claire mccass kel and pete williams monitoring the court and will join us when the decision is announced. good morning to all of you. kara at the white house, set the stage for us. what are we hearing from the president with regard to the big decision? >> reporter: the president and his team have maintained the subpoenas for the president's tax returns and other financial documents are a distraction from his ability to dot work of the presidency. they've said that they are politically motivated. as you know, the president had refused to release his tax returns since he was a candidate in 2016. his argument is that voters knew this, and it's been decided. they voted for him anyway and they don't care. so it's a moot issue

, everyone. welcome to "cnn newsroom." i'm michael holmes. >>> the world health organization says a staggering 230,000 cases of coronavirus were reported around the world on sunday. that is the most ever in a single day. the surge in new infections of course led by the u.s., which has confirmed now more than 3.3 million cases overall. since last week at least 33 states have reported a significant jump in new infections. now as the outbreak continues to grow the white house has been trying to undermine its own top infectious disease expert. president donald trump says dr. anthony fauci made many mistakes early on including telling people not to wear masks. now, that was back when masks were in short supply and he wanted first responders to wear them. well, now the u.s. surgeon general is saying the administration is trying to correct its own earlier messaging and believes the country can turn things around. >> the disease course is about two to three weeks. so just as we've seen cases skyrocket we can turn this thing around in two to three weeks if we can get a critical mass of peopl

it into a culture war. and presidential historian michael beschloss. the numbers are climbing. it doesn't seem from what we're seeing on the ground that any state has gotten a handle on this situation. your take. >> yeah. i think what we need to do is look at what is happening in the northeast as potentially an example of how to do things the right way. and i home it stays that way. but following all the criteria, opening phase one and evolving into subsequent phases after meeting certain criteria. the states and the counties in those states that are seeing spikes need to very carefully go back and watch the following metrics. did they open too soon? did they open incorrectly would you the proper precautions in place, and did the folks who live in those areas practice the mitigation measures that we have talked ad nauseam about, including mask wearing, which has become a proxy for the political divide in this country. >> so let's take your questions, if the numbers are telling as you story, it is that they didn't do those things. that people did not necessarily practice the mitiga

%. archieome michael mckee, economics and policy correspondent at bloomberg. thank you so much for joining us. it was not quite as bad as expected, but it was really bad. the worst since 1947. where there any bright spots? michael: not really. at this point you have to put this in the rearview mirror. in 1947 in 2008 we saw 1.9%. 32.9% lows that out of the water. if you're going to look for anything hopeful in this report, you would look at inventories. ,hey fell by a massive amount $315 billion. that does not normally happen in recessions. when people stop buying, usually inventories build up, and in this case they collapsed. if we do see the economy start to reopen again, companies will have to build more stuff, and that could help the economy get going again. david: we have a sense of this coming back by june? is it that granular? michael: we do not have a sense. we look at the monthly numbers and we did see real collapse in april and may. in june things started to get better and that took some of the edge off. the trade numbers we just got this week showed the trade deficit nar

baseball bats, with bricks, with concretes, pellet guns, citizens assaulted too. michael waltz with secretary of state mike pompeo with historic speech directly to the people of china, stand up to your totalitarian economist leaders. worldwide condemnation pouring in from around the globe on china as shroff labor concentration camps. a top democratic senator agrees with president trump shutting down china's houston embassy. now this, how will china retaliate. with us, deontay johnson. president of the black conservative federation. with us why the democrats remain pretty much silent on violence spiraling out of control in cities like chicago where he lives. why are democrats like the chicago mayor pushing back on the president's help with 75 people have been shot in chicago since last friday, including a three-year-old baby girl. a five month infant was shot in chicago last week a five-month-old baby. we have media reports, cnn, president trump is right, these reports came out in 2017, that president obama did not do enough in his hometown of chicago. deneen borelli with us tonight.

question that what the big tech companies are doing is very bad." joining us is michael pachter, wedbush security analyst. they all do different things that are "bad." who will be the worst offender? david: in trump's eyes it is amazon because jeff the washington post, not because amazon is doing anything wrong. the bulk of congress is probably most upset with facebook and its tolerance for misinformation and manipulation. i think as a practical matter, probably the worst offenders from the consumer perspective are google and apple with their 30% toll in the app store. i think that is onerous and probably over-the-top and anti-competitive. you said the right word. lawmakers. these guys cannot make law. unfortunately you cannot break these companies up without a change in the law. the current antitrust laws do not permit congress to do anything. they can show their constituents they care. without a change to the securities act of 1933 and the securities exchange act of 1930 1934, you're not bringing anything up. they cannot pass a stimulus bill if they cannot pass an antitrust bi

adviser, this man, michael flynn, who appeared very close to having the entire case against him dropped by trump's justice department. an appeals court may have stepped in to say, not so fast. and of course, it was another day in which the nation was consumed by a presidential tweet. now, it continues to be this preside president's one neat trick. he know he's baiting us, trying to distract us and manipulate our attention and outrage, and yet, he is using the office of the presidency to say something that is so outrageous and so undemocratic and so frightening, that it is impossible not to respond. we can't abide by the possibility that ignoring him might be interpreted as approval or even normalizing the things that president trump says. and who can say for certain what in particular the president might have been aiming to distract from today. there was a lot to choose from. there were new numbers showing that the nation's broadest economic measure, the gdp, dropped off a cliff in the last quarter. "the new york times" called it, quote, the most devastating three-month collapse on reco

not be as accurate as we would like but there is still a big hole in the economy. tom: michael mckee, i want to get this in as we go to jeffrey rosenberg of blackrock. the real thing for the weekend economists, do adjust their timeline to a better recovery sooner, or do they drop their recovery unemployment level down lower? do they go from 10% unemployment at the end of the year to 8%? which would you suggest it will be? mike: it is a question in terms of how you trade this. i think people will hold off because of the closings we are seeing and the high-frequency small business employment, and there has been a decline in the last couple of weeks. this is early june data, and the leader weeks of june have seen states close again. we may see people fall off in the next payrolls report. i think economists will want to see that for the make any conclusion. tom: if you are just joining us, our simulcast of this jobs report is truly historic in its confusion. michael mckee, our correspondent with a great dissertation. lisa, i went right to the u6 augmented unemployment rate, and i was stu

spirit of regis philbin. >> thank you so much, michael. i know he was very special to you, special to many of us, and as you said, the tributes are continuing to pour in. it was something to be in his presence and i'm so glad we'll continue to celebrate him throughout the morning, george and michael. >> he always kept you on your toes as well, robin. we'll talk about him all morning long. >>> we have a lot of news to get to as well this morning, and we start with the latest on the coronavirus emergency. the united states is now reporting more than 4.2 million cases, but there's new vaccine hope this morning, tens of thousands of americans have volunteered for moderna's large-scale human vaccine trial getting under way at locations across 30 states and washington, d.c. >> so we'll speak exclusively with moderna's founder in just a moment but first victor oquendo starts us off in miami with the latest. good morning, victor. >> reporter: good morning, robin. a vaccine cannot come soon enough. today florida will likely top the 6,000 death mark.hoital spa very thin. there is just one avail

our viewers in the united states and all around the world. i'm michael holmes. our top story, the growing divergence between the u.s. president and the virus. he's once again blaming testing for the spike in cases. health experts totally disagree because he's wrong. and say the soaring case count signals an ominous trend. but during an interview with fox news, president trump repeated his claims that the u.s. has done the most incredible job in the world when it comes to testing. however, the botched testing rollout in the early days of the pandemic caused huge problems. and there is still a major backlog in u.s. test results, and not nearly enough tests are being done. president trump also suggested that fast-healing covid infections should not be counted, and that testing is just creating trouble. here's jeremy diamond with the details. >> reporter: coronavirus cases have been surging in the united states, yet president trump seems to still be denying the reality of the situation. the reality that cases are indeed surging, that new records are being broken every week, sometimes

and the cases against roger stone and michael flynn, daniel goldman, a familiar name to our viewers, had a role in the investigation, in the hearings related to the mueller report, he tweeted out -- ineffective -- opening line of questioning by the chair, jerry nadler. when asked by a conservative what questions he would have asked, he told these. i wonder if you know the answers. the attorney general -- has the attorney general intervened in any sentencing other than roger stone? has doj moved to this miss any case postconviction other than michael flynn? have prosecutors withdrawn from any case and protest other than those? guest: yes. hello to mr. goldman, if you're watching. those questions were all asked at different points. they were not contained in the opening of it, but that line of questioning is very effective, as you would expect from an effective litigator like mr. goldman. what he string to show is that attorney general barr is not operating the like -- like the lawyer for the american people or even the united states, he is acting like the lawyer for donald trump ear

michael holmes. >>> and coming up here on "cnn newsroom." a jump like we have not seen before in coronavirus cases around the world. as one u.s. state shatters a record of its own. even as the virus rages out of control, the white house trying to discredit one of the nation's leading health experts. dr. anthony fauci. and dozens of cases of covid-19 detected on military bases in japan. we're live in tokyo with a look at what's being done to slow that spread. >>> welcome, everyone. the world heath organization says a staggering 230,000 cases of coronavirus were reported around the world on sunday. the most in a single day. the surge in new infections is being led, of course, by the u.s., which has confirmed more than 3.3 million cases of its own overall. since last week at least 33 states have reported a significant jump in new infections but the u.s. surgeon general believes the country can still turn things around. >> the disease course is about two to three weeks. so just as we see cases skyrocket, we can turn this thing around in two to three weeks if we can get a critical mas

back with another local news update in about half an hour. >>> michael phelps looking for another world record. he's going to get his sixth olympic gold here. >> come on! don't you guys long for the olympics right now? remember those days michael phelps, there he was winning one of his 28 olympic medals. >> you think he remembers each one like it's like your kids? i don't know. >> i'm excited to hear your conversation with michael phelps. >> it's really going to be interesting. he long has been talking about mental health. he's been candid about his own struggles. now he's got a new documentary that features a lot of olympic athletes whose names we all know. it's called "the weight of gold." it's a look at how depression can come off after highs like that and you go back to the real world. how things can really change. >> yeah. it's going to be a good conversation. >> definitely. >>> let's get a check of the headlines here at 7:30. the latest on the virus. the national death toll surpassing 150,000. a number of states looking at whether to implement new shutdown rules. according t

advisers under president obama. he is now at the university of chicago. and michael strahan. he is an economist with the american entprise institute. has testified before congress and advises republicans. welcome, both of you. austan, i have not seen you i think you are with us. republicans are arguinghat the $600 additional is something the government -- i am told we don't have asutan. let me turn to you, michael. what is the argument from going from 600 additional dollars to $200 a month? so many workers have lost their jobs, have not had the option to go back to work. that is a significant cut, isn't it? michael: it i and that is an issue congress should address in a way other than continuing the $600 supplement. the argument against continuing, or the argument for the cut is that as the economy continues to recover and as the labor market continues to strengthen, paying people that much money in unemployment benefits, that are conditioned upon being unemployed, will keep pple out of the workforce and keep the unemployment rate higher. it will rve as a disincentive to get a job. th

hear from michael lomax of the united negro college fund, randi weingarten, president of the american federation of teachers, and scott crowe. first, let's get it quick check on the markets. the s&p 500 up .2%. certain stocks making big moves. the dollar index is weaker by .4% thanks to a stronger euro. european leaders meeting this weekend. we will talk more about a rescue fund. gold up .6%. let's get an update on all the market action that we saw this week with scarlet fu. scarlet: i am keeping a close eye on tech. tech is one of the worst performers, down 1.3%. that has been the case over the past couple of days as well. the commentary about how these mega-cap companies are dominating the s&p 500, perhaps too much concentration. tech then, you have seen shares underperformed. 500 is a chart of the s&p infotech relative to the s&p. that sharp rotation into cyclicals and you are seeing it happen again. respondents said that they felt long u.s. tech was the most crowded trade out there. you mentioned some big movers. netflix at the top of the chart. the company reporting earnings that

. michael mckee, our international economics an policy correspondent. john williams will be with francine lacqua today. does any of this that you normally go out to jackson hole and pontificate on, does any of this matter? michael: not really. there's no potential growth to be measured at the moment, so the fed, like all central banks come are basically stuck at zero for the foreseeable future. which means even with the ecb and bank of japan meeting this week, don't expect any monetary policy moves. they are all about interest rates. interest rates are at zero. not much they can do. it is the fiscal authorities who matter right now. tom: what is so important is the idea of what will be the price for this. with all of your years of experience, what is the price out for the foreseeable future that we are all going to pay? michael: that is the hard thing to know. there was always a theory that people would change their spending habits because they would expect texas to go up if there is a big budget deficit -- expect taxes to go up if there was a big budget deficit. so far it is because of t

. yesterday we spoke with michael holland with decades of experience. is with goldman sachs. just as importantly, what not to own. what do i not want to own right now? you want to avoid are companies that have a shorter duration in their cash flow. that is to say that the average time in which their earnings and their cash are coming in a relatively short ration. what you want to own our companies with the longest duration assets. those would particularly in the technology and health care sector. the reason for this is the low interest rate environment which is a characteristic we expect to persist for a number of years in the future, that low interest rate environment increases the value of those longer duration assets. isht now the market embracing and valuing companies that have longer duration attributes. if you have shorter term growth, that's also good. and the third issue is balance sheet strength. 50% of then variation of stock prices in the market. ad they are paying for greater premium for that longer duration asset you want to avoid companies with a shorter duration. tom:

absurd levels in the case of this man michael hector. the 27 year old londoner is a member of the jamaican national squad and was loaned out to over a dozen clubs into space of knowing yes. then i would have been on a few lines after signing for vetting his 1st loan spell pain shortly after he turned 183 years later he'd already played full 10 clubs in most cases he was passed on off to just a few months in the interests of his contractual employer. again is the child in their own. michael hector was always quick to adapt and continued improving as a player with big trucks now making overtures he assumed his days as a journeyman was over when chelsea signed him in 2015 but chelsea was the wrong choice. loan deals were originally created for clubs to insert your more match experience for younger players an example from germany phillip bloch i'm still not considered ready for the buy in senior squad at 19 he was sent off to stuttgart by the time he returned 2 years later long was arguably the best fullback in germany. the. national guard fillion warden of the last all things they wo

institute's michael pillsbury join us here tomorrow. i always like that they put up my i picture when i'm sitting right here. that's funny, isn't it? rino paul ryan, they don't put up his picture, he just can't keep from talking about politics, and he's got some news for you. he's sort of attacking the president, but that isn't news is it? we've been watching that for, well, almost over four years. no, paul ryan has come up with a very important observation that you'll consider just earth-shattering. stay with us, we'll have that for you and much more. we'll be right back. ♪ ♪ muck. lou: he couldn't stand it. paul ryan just has to talk politics, and so he's out in the public talking politics, and he's taking on his favorite target, president trump. the former rino house speaker says president trump is in danger, are you ready for this? of losing some key battleground states if the president can't win suburban voters. now, you haven't been told that on any other show or any other news outlet, have you? all of whom have been reporting all of that for a very long time. and you remember p

then gdp numbers coming out on thursday. we welcome now michael gapen. thank you so much for being here. let's start with the economy. it may inform what the fed does. where are we? we have some conflicting signals. michael: i think we have emerged from lockdown with a lot of the economy performing a line -- and lined with a v-shaped recovery. household spending came on strong. we had a snapback in durable consumption, including auto. that pushed the june data higher and stronger than many people had expected. i think when we get this data later this week we are probably going to find that household spending, at least on goods, is about where it was in february. what that means is, if we are going to get beats to the upside or growth we need services. it is likely to be more challenging from here. if it is ok to say this, i think the easy gains have been made in the sense that parts of the economy that are less --id-effect have bounceback covid-infected have bounceback. the spread of the cases in the south and west are likely to and august- the july data flow is uneven. david: we h

months, and we will not stop. >> you know, michael steele, i want to bring you into this. you've been a lieutenant governor. you know how at the gubernatorial or mayoral level how difficult this is. what donald trump is arguing on its face is he is targeting cities like chicago and philadelphia, democratic run cities. it's his long-running narrative that urban cities that have lots of brown and black folks, are inherently dangerous. they're inherently hell holes, hell scapes, now he's got the power to send in what amounts to sort of the jet police, his own little police force to do better than he thinks these mayors are doing. what do you make of the fact that you had some officials like the philadelphia d.a. that we have here who say absolutely not, and we have other mayors who feel pressure from about a separate thing? local crime has nothing to do with these protests. donald trump is the one conflating them. what do you make of the way these mayors are reacting and the sort of difficulty of this? >> well, what you see happening -- and i think ms. pulley has put it exactly right. the

cabinet minister michael gove says face coverings should not be made mandatory in shops in england, but they should be worn out of consideration for others. on the whole, my view is that it's always better to trust people? common sense, to give them a clear sense of what is wise and i think on the whole, my view is that it's always better to ——trust people's common sense, to give them a clear sense of what is wise and i think the individuals and businesses are responding well to that lead. president trump finally wears a face mask in public, as the united states posts another daily record for new coronavirus cases, coronavirus cases. i think it is a great thing to wear a mask. i have never been against masks but i do believe they have a time and a place. the uk government announces a £700 million plan for improvements to british border controls at the end of the brexit transition period. india reports a record spike in coronavirus cases, forcing authorities to reinforce strict lockdowns across the country. and a scottish airline pilot who contracted covid—i9 in vietnam — a

, michael wilson has been optimistic on the markets. the right call still on this recovery, still, and of july, look for that at 9:00. futures, -30. this is bloomberg. ♪ tom: "bloomberg surveillance" guy johnson in london. francine lacqua reporting on credit suisse in zurich. tom: tom keene in new york and howard ward, each of these companies is different. what is the distinction you see in apple computer in 2021? tom, this has been a phenomenal stock. i never would have expected it to do as well as it has done this year. cap,trillion market reporting tonight, revenues, $55 so,ion, earnings $2.10 or earnings this fiscal year up, maybe 5%, 6%, revenues around 2% . growing your business during a pandemic is a good thing which results in stocks being be rated higher than those companies suffering during the pandemic. owns the smartphone market. they own it. u.s.martphone share in with their ecosystem, they have developed incredible brand loyalty with 90% rate of people continuing to own apple iphones when they're are ready to get anyone. massive upgrade when the 5g phone comes out

. sometimes people talk about if michael jordan is better than lebron james, but there is no question that warren is the best ever. david: but value investing, as i understand it, is easier done when the markets are down. when the markets are high, there are not as many bargains. what have you been doing the last 10 years because markets are high? john: we have been able to buy terrific bargains around march of 2009 when the market was bottoming. we have great brands like cvs, royal caribbean, and true bargains. when the markets recovered, some sectors stayed really, really cheap, media, we love companies like viacom and madison square garden network. those stocks are still really cheap. financial services companies, some you know well. some companies like lazard or kkr. there are some sectors that are totally neglected even as the markets recovered. david: let's talk about the economy. the united states economy was in a recession that ended june, 2009. so now for about 10 years we have been in a growth cycle, and it is one of the longest in our country's history. but therefore, there