Cleveland cupcake shop owner on business being ransacked by rioters

This is a rush transcript from "Your World with Neil Cavuto," June 4, 2020. This copy may not be in its final form and may be updated.

NEIL CAVUTO, FOX NEWS ANCHOR: Bill Hemmer, you are so right.

Read it and leap, the markets right now surging along with a big shocker on the jobs front. They were gaining in the latest month, not declining by the close to 10 million many thought they would be.

The Nasdaq is at a record, another index we closely follow, the Nasdaq 100, at a record, the Dow within a few percentage points of a record, the S&P 500 within a few percentage points of a record, all of this built on a stunning jobs report that virtually no one saw coming and an unemployment rate that no one saw coming either.

Most were expecting it to get very close to 20 percent. Instead, it's a little over 13 percent, still bad, but not nearly as bad as some thought.

Welcome, everybody, I'm Neil Cavuto. And this is "Your World."

And what in the world happened to the so-called experts, who were looking at an economy that was dealing with that whole coronavirus shutdown, and that it would take a long time to come back from that? And then you had all the protests and concerns that it would take a long time to come back out of that.

And then you had investors saying, we see light at the end of this tunnel, and we see hope and promise at the end of this tunnel. And we also see Americans eager to get back to business, which is why a lot of airline stocks were soaring today, hospitality and leisure stocks soaring today, technology stocks soaring today, virtually every sector that has a stake of this economy advancing today.

Susan Li with more on what happened -- Susan.

SUSAN LI, FOX NEWS CORRESPONDENT: Neil, blowout jobs report, blowout day on the stock market, the economy adding two million jobs in the month of May, instead of losing eight million, maybe one of the biggest surprises in labor market history.

And that helped rally stocks, with the Nasdaq hitting record highs, as you mentioned, the S&P 500 within a hair, a whisker of being positive on the year. And who would have thought this would be possible, given the week's protests and the ongoing coronavirus spread?

Now, the beaten-down travel stocks turning around. Take a look at the airlines, American Air up 75 percent on the week. We saw similar gains for the likes of United, Delta and Southwest. Also, check out Boeing, the plane maker, one of the biggest contributors to the Dow's rally, Boeing up 40 percent over the past seven days.

And financials, like the banks, they do well when there's less concern about the economy. And they also do better when the 10-year Treasury yield goes up. And that usually happens when there's less risk in the economy.

Now, the past few weeks, as more states start to reopen and signs the U.S. might be restarting, that's been driving money out of the high-flying tech stocks and more into the so-called value play, stocks that haven't done as well and trading at cheaper levels.

But, today, money he was going everywhere, including into technology. And Apple hit a new record high, Microsoft, Nvidia, the other growth plays that also got some bids as well.

Now, the S&P 500 had its best 50-day performance in history from the depths of the coronavirus sell-off close to the end of March. And, Neil, that was the shortest bear market in history. What a day.

CAVUTO: Yes, what a day, indeed. What a week.

All right, thank you, Susan Li from FOX Business Network, which, if you don't get, you should demand. But, then again, you get it, so obviously your demand worked. All right.

All right, in the meantime, I should posit here, with the Dow now a little north of 27000 -- remember, it's 29-something that were our highs.

But you know where we were a little bit more than a couple of months ago? Hovering in and out of 18000. That's a surge of about 45 percent from our lows for the Dow.

We have already seen, as I said, record highs for the Nasdaq and the Nasdaq 100. And a lot of you saying, all right, this is getting a little gobbledygook for me. What does it really mean?

Well, it means right now that those who thought the economy would tank into a prolonged depression, or at least a very, very long recession, might have missed something called capitalism and the ability of people coming back into the economy to boost things.

Now, whether that ultimately proves to be a V-shaped recovery, or just a recovery, it probably doesn't matter to traders, who seem to be convinced that we're through the worst of it. The protest are a worry, but as long as they remain peaceful, it's the Wall Street community's way of saying, we like that. That's what we do in this country.

And right now, coming back and getting back to work, that's what we do in this country too.

And doesn't Bernie Marcus know it? He is the co-founder of Home Depot. By the way, that company hit an all-time high in the stock market today.

Bernie Marcus with us right now.

Bernie, you expressed confidence when we talked just a few weeks ago about this economy would find its way back, Americans would find their footing. We have had some interesting developments since then, but it bore you out. This economy, this market bore you out.

What do you think?

BERNIE MARCUS, CO-FOUNDER, HOME DEPOT: Well, I think that the president was right.

The American people were tired of being locked up. And the doors opened, and they're rushing out.

Now remember, Neil, this is great news. But there's still 85 million people -- 85 percent of the jobs that still haven't been filled that have been lost before this calamity that hit us, I mean, both the protests, but the coronavirus.

So -- but people want to get back to work. America wants to work. America wants to see good things happen. And I'm so happy. Job Creators Network had a lot to do with it, as we talked about it before, because we helped pass this PPP bill, which I think has helped the businesses out there to get started.

But we need more. And I think that one of the things that we're trying to pressure the United States to do today -- we're talking to the president and his staff of people -- is tax relief, in the way of taking care of those people who are working, and also help the owners of the stores.

I'm thinking in terms of the small store owners who really are going on a whim and a prayer. Many of them are opening working at 50 percent capacity. And that's tough for them.

But if the FICA -- if they took FICA off for the rest of the year, so that the employees could get their part of the FICA and the employers would get their part of the FICA, this could help the recovery even further.

CAVUTO: All right.

MARCUS: So, there's a lot that could happen here.


CAVUTO: We should just explain there.

You are pro a payroll tax cut. You want to payroll tax cut. The president does too.

But I'm wondering. Given the strength that's in the economy right now, or at least evidence itself in this report, you could argue that, with the trillions of dollars we have already spent on stimulus, trillions of dollars through the Federal Reserve to goose the economy, that maybe the better part of valor might be holding back and seeing how this goes, because goes it does appear -- whether you're on the left or right on this, it does appear to be working

MARCUS: Well, again, I'm going to go back and say to you that we haven't seen a total response to this.

There are many businesses that haven't opened yet. And those that are operating, Neil, are operating at a small capacity, especially in the refreshment business, the hotel business, the restaurant business, these people, which is a -- which is a big part of our work force.

They still don't have all the people back. And they need -- they need help to operate. Look, many of them are just barely making it, between paying the payroll, paying their insurance, paying liability.

And now they have another issue that they have to worry about, Neil, which is the lawsuits that you and I talked about. I told you that this was going to happen, that the liability lawyers are going to start pumping in. Well, they have.

And I don't know the way you know it, but let me throw a damper in today. There have been up to 2,400 lawsuits filed already, nursing homes, different kinds of stores. And this is going to continue. And then we need some relief from the federal government and also from state governments to give these people a reprieve.

They have had enough to deal with without having to worry about lawsuits, frivolous lawsuits, that really will take up time and money, and that's all it's going to do, and dampen the economy again.

Look, America wants to work. American people want to continue to do well. They want to see their families grow. And they want to see America open up again. And I think that we should do everything in our power to keep this thing going.

It's a small impetus that could become a tidal wave if we do the right things.

CAVUTO: All right. We will watch it very, very closely.

Bernie Marcus of Home Depot fame, founded that company in the middle of a pretty nasty recession. I think it did OK. I think he did OK with that.

By the way, he was referring to insurance relief, liability relief. For a lot of companies whose workers come back, and either they get sick or they're afraid that they will, they file a lawsuit. And part of the idea of more aid to some of these states and localities is that businesses in the affected regions be shielded from part of that, not all of it, but part of that.

Where that goes is anyone's guess.

I want to get the other read on this from Robert Wolf, the former UBS Americas CEO, Barack Obama, one of his key economic advisers.

Robert, the economy, all of a sudden -- and you mentioned this last week. You expected to rebound. I don't know if you expected it this soon. Others are saying that this is a sign that maybe we are going to see a V-shaped or a sharp recovery.

Where are you on this?

ROBERT WOLF, FORMER ADVISER TO PRESIDENT OBAMA: Yes, first of all, you had a great legend in Bernie Marcus. I mean, he's a role model for many of us as an entrepreneur.

Listen, this was an incredibly positive number vs. expectations. But let's make sure we're aware that that's vs. Expectations. We're still talking about north of 13 percent unemployment, but, more importantly, greater than 20 percent when we look at underemployed, unemployed, and discouraged.

So it's still much greater than where we were during the Great Recession.

The other thing I would say on today's numbers, which you can say the glass was half-full, for sure, but of the 2.5 million that were rehired and came back, they were temporary workers that came back, of which over half was in one sector, which was leisure and hospitality, which got incredible relief from the government.

So we knew that temporary workers were going to come back. Also, the 14 sectors that we look at in unemployment, almost half of them were down, and especially at the state and local level. So I want to be clear, this was a great number today. But by no means are we on this way to a V-shaped recovery.

We still have consumer spending way down. Small businesses, which you and I spoke about, still only about 10 percent have been helped by the Payroll Protection Program. So I'm glad we had a great number today. It was definitely beyond my expectations.

But this is not a V-shaped recovery. We are not out of the woods yet. We need a lot more to do, especially for small business.


CAVUTO: No, I understand what you're saying. I understand what you're saying, Robert,. We're not out of the woods yet.

But we at least saw some daylight a lot sooner than we thought in those woods.

WOLF: Absolutely.

CAVUTO: So, let me get your sense about what we need to do now.

There are a lot of people who are looking at the trillions of dollars we have already spent and say...

WOLF: Yes.

CAVUTO: ... let's give that time right now. There are others who look at it and say, no, more stimulus checks, they're needed. We need to provide a fallback for businesses, so that they get more support.

I mean, you could run up the meter all the more now. And that seems to be the official view of both parties, maybe Republicans a little less. I'm just wondering, is Wall Street factoring this in, that there's going to be more aid? Or is Wall Street perfectly fine with what we have got and let the markets do their thing, let the economy do their thing, let people returning to work do their thing, restaurants opening, businesses opening, shops opening, let that be the means by which we see the economy surge?

WOLF: So, the market isn't necessarily correlated to the economy right now, right?

It's not like we have had great growth over the last few years. The market is really about, we have incredibly low rates, and we're in this situation where, for the most part, tech has driven the markets.

So, I would say they're not necessarily correlated, and they haven't been for a while. We're being forced into the market. With respect to the recovery today and stimulus, which was your question, we have to make sure we help state and local.

So, in the CARES Act 4.0, we have to look at state and local governments. We don't want police, first responders, fire, teachers, we don't want them actually get -- get terminated, right? We want to make sure the service sector stays vibrant.

CAVUTO: All right.  WOLF: Number two, we have to do something with the consumer. We're doing nothing with the consumer.

So we have to figure out -- it's a great thing to have employment back. We need them spending again. We need businesses making sure that they get revenues, and it's not just a relief rally.

CAVUTO: All right, we will see what happens, my friend.

Robert Wolf, very good seeing you, the former UBS Americas CEO, former Barack Obama economic adviser.

One point -- and he touched on this -- the markets are essentially back to the level they were at when we had 20 million more Americans working. So, the counterargument to the surge in the markets is that maybe they have advanced a little too far, because we're kind of back to where we were when millions and millions of more Americans were employed.

So, is that a thing to worry about? We will pursue that.

We will also pursue what happened in Washington, D.C., where we're told that the Utah National Guardsmen were kicked out of their hotel. Now, the mayor there says, this was a huge misunderstanding, it was a budget matter.

Lindsey Graham isn't so sure. The senator is here after this.


MURIEL BOWSER (D), MAYOR OF WASHINGTON, D.C.: It's our expectation that, until soldiers are called home, we don't think that soldiers should be in the nation's capital patrolling or policing streets.

We have made that formal request to the White House. We have no desire to have any soldier out on the street. But D.C. residents can't pay their bills.


CAVUTO: All right, Washington, D.C., Mayor Muriel Bowser not a fan of the National Guard in her -- in her district here.

She apparently told them to go to another hotel, the Utah National Guard that was there to help out in the District. Her staff explains that was -- that was a budget issue. It was not a personal sleight meant to the National Guard, even though she had said that it isn't necessary in the District and the president should not have called them in.

Senator Lindsey Graham is with us right now.

Senator, what do you think of that, and the role of the National Guard and what it plays if, let's say, a mayor or a governor or others -- even though she's unique here, and the first one to say, no, no, no, we don't need them -- what do you think of that?

SEN. LINDSEY GRAHAM (R-SC): Well, I think our National Guard is a blessing to the nation. These are citizen soldiers. They have left Utah and South Carolina to come up here to D.C. to try to help keep order

They have been guarding monuments, been washing off some pretty grotesque graffiti on our monuments in town. This is the center of America's government.

I have got good news. I just talked to the National Guard bureau chief, General Lengyel, with Senator Mike Lee. All of our National Guard soldiers will be in hotels tonight in the District of Columbia.

I don't know what happened with the housing issue, but I'm going to get to the bottom of it.

But to the people of Utah and South Carolina who have family members up here, they're going to be housed tonight. They're going to be well taken care of. And I'm going to go visit the South Carolina National Guard troops deployed to D.C.

Since 9/11, they have done wars, they have done hurricanes and floods, and now civil unrest. They're the best bang for your buck in DOD's budget, the National Guard.

CAVUTO: You know, Senator, the National Guard is one thing. Troops are another, when you talk about sending in the military.

GRAHAM: Right.

CAVUTO: There had been some concern when the president...


CAVUTO: ... raised the possibility of the Insurrection Act that would allow him to bring soldiers into some of these trouble spots.

His own defense secretary thought that was a bad idea. Then, of course, you have his former Defense Secretary Jim Mattis ripping him for dividing the country, being a divisive figure. Other former military types have been saying much the same.

What do you think of all of that?

GRAHAM: Well, the Insurrection Act has been used in the past, but it should be our last resort.

We do not in this nation routinely use the military to deal with domestic matters. We have the Posse Comitatus Act that prohibits the active-duty military from engaging in domestic law enforcement.

But the Insurrection Act has been used. Bush 41 used it with the Rodney King riots. But I don't think it's a good idea to use -- idea to use it unless you have to, because we don't want our military getting involved in domestic matters.

The countries that routinely use the military to enforce the will of the government, that hurts the image of the military. So, I think, right now, there's no need for the Insurrection Act. But it has been used, and it should be the last resort.

The National Guard is a different creature, and I think that's the right way to go.

CAVUTO: What did you think of the president's comments on Secretary Mattis, to say that, I fired him, Barack Obama fired him, he is kind of an overrated general?


CAVUTO: I'm paraphrasing here. What did you think of that?

GRAHAM: Well, I think General Mattis has earned every star that he's got, all four of them. And I have known him for years. And I generally agree with him. I appreciate his service.

But I think to lay the blame at President Trump's feet for the division in this nation is a pretty shortsighted view of it. What about New York? What about the disorder in all the major cities from lack of support of the police?

This was a divided nation before President Trump got elected. In 1968, major cities were burning down, and there was no Antifa and there was no Donald Trump.

So, we have got problems in this country. But I would say that general -- generally speaking, President Trump's economy reached everybody. African- American families had the best economy in my lifetime. So did the Latino community have a good economy. And I hope we can restore that.

So, this idea of blaming Trump for everything is fashionable, but I think incorrect.

CAVUTO: All right, Senator Lindsey Graham, thank you, sir, very, very much.

Good catching up with you, South Carolina Senator Lindsey Graham.

When we come back, you remember him as an NFL great. I'm talking about Jack Brewer, of course, but it's his business and his concern about other businesses that are getting caught up in this storm of protests that worries him, not so much for his own, but so many others.

(COMMERCIAL BREAK)  CAVUTO: All right, this is a moving target, trying to price the damage of all of this protest attacking that's gone on among the more extreme elements, 55 million bucks in damages on looting, vandalism in just Minneapolis.

Jack Brewer, the former NFL great, a few of his restaurants, three of them, in fact, were damaged in Minnesota through all of this.

Jack, how are they doing? How are you doing? How are the workers there doing?

JACK BREWER, FORMER NFL PLAYER: We're all safe. Everyone's safe. It's just damage to property. Fortunately, we have a lot of resiliency.

Our company, actually, our employees and my partners went out and start delivering food and resources to the local communities that had gotten torched down. So, we're all in the service business, and we're there to serve the people.

I mean, it is unfortunate that so many businesses that may not have had insurance and may not be able to recover had to take the blunt of these looters and rioting.

CAVUTO: What do you think of some leaders in cities and states that might be a little reluctant to bring in the National Guard? I know, as you know, in Washington, D.C., that's been an issue for the mayor, because she thinks it might actually bring on more agitation.

What do you think of that?

BREWER: I mean, peaceful protest built our nation.

But when you have a mayor like we saw in Minneapolis, who literally waited four days to call to action, and never really stood up against the evilness -- I mean, let's not blend the two sides. You can peacefully protest, but you have to stand up against violence and just widespread looting.

And he really ignited around the country. I think, if he had stood his ground early on with this, stood next to the peaceful protesters, and against those looters, I don't think it would have spread as bad. But he didn't do that. He was indecisive.

And to be a leader, you have to make quick decisions, and you have to make decisions to protect the people and to honor the people and which elected you to do that job. And so I think he made a huge mistake.

CAVUTO: The D.C. mayor, for her part, was saying that she was doing it for the people.

But you're quite right. We won't know the real skinny on that.

What we do know is that it's had reverberations in weird ways. I'm sure you have been following Drew Brees and his comments, and that he thought they were innocuous enough to say he'd always stand for the national anthem, but then the cascade of critics, who said that, no, no, that doesn't fly in this environment, he looks racially insensitive.

What are your thoughts on all of that?

BREWER: I think it's all just a distraction.

It's unfortunate. It's taken our eye off of the real enemy and the real root causes of the systematic oppression that happens across our nation. It's about the fatherless kids that we have in America. It's about all those kids that are forced to go to public schools that aren't working.

Neil, you know, there's high schools with 40 and 50 percent of the black kids not graduating from school. You take a place like Baltimore, Maryland, where they spend over $16,000 per student for a school year, yet these kids are -- 38 percent of them are not proficient in math.

These are real crisis going on in our inner cities that we need to address, because it's about serving the poor, serving the most oppressed. And in our country, that happens to be the black people.

And so I think it's a deflection from the reality, reflection from the -- really what matters in our country, from Drew Brees to anyone else who wants to stand up and talk about anything else, except for fixing the root problem.

And that goes for the president. I think the president can come out bold and quick and fast and make a statement that we're going to start helping these inner-city communities, these schools that are broken, and many that are ran about by progressive leaders who have just gotten away from the fundamental -- the fundamental things that you need to have success.

And that's to have basic education and stop wasting all this money. It's really sad. Those kids in Baltimore, they're spending more money on those kids than I spend on my kids to go to private school. It's ridiculous.

CAVUTO: So, real quickly, if you can indulge me here, Jack, Minneapolis, not only through its public school system, wants to disassociate itself from the Minneapolis police.

I don't know how you do that. But a couple of council members in Minneapolis also saying, let's cut ties with the Minneapolis police, some saying, let's even redo the entire department.

Your thoughts on that?

BREWER: I think that makes no sense.

I think you can go in and make systematic changes to an institution without getting rid of it. I think it takes bold leadership. It's ironic that the same leaders that allowed this police officer to commit 17 offenses and kept him there, now, all of a sudden, they're saying they need to make changes and get rid of the police department.

I think it goes -- starts at the top. And it's going to take the police to have a code of conduct and all agree that they're not going to abuse humans, no matter what color you are. It's about humanity.

And it's going to take leaders that are actually going to hold folks accountable when it's time for them and do so, and not just be Monday- morning quarterback and react to every issue that happens.

CAVUTO: Jack, you're an amazing guy. You know that? I always learn something from you.


CAVUTO: Be well, my friend. Thank you for that and the calming presence...

BREWER: Thank you, brother.

CAVUTO: ... in a week we definitely needed it.

Jack Brewer, the former NFL great.

BREWER: God bless you. God bless this country.

CAVUTO: To you as well, my friend. Thank you very, very much.

All right, we're going to take you to Texas right now, among some of the more peaceful rallies occurring across the country. In fact, they have actually tabulated this up, that nine out of 10 of these events have been peaceful, indeed, and especially of late.

They hope that is maintained especially ahead what could be a very big one planned for tomorrow right outside the White House.

Stay with us.

(COMMERCIAL BREAK)  CAVUTO: You're looking live at the Avenue of the Americas, Sixth Avenue, take your fashion there, usually very, very busy.

It is going to be maybe busier come Monday, because New York City because phase one of reopening. How's that going to go, with everything else that has been going on?

After this.

(COMMERCIAL BREAK)  CAVUTO: All right, it could be kind of dicey. They hope not, but another protest planned outside the White House, I believe in Lafayette Square, right across the street of the north entrance of the White House.

So, obviously, they get a little anxious about that. Remember how it all went down last week.

Chuck Marino is the former Secret Service agent, very good read of how you deal with crowds that might get a little ahead of themselves.

Chuck, everyone is hoping this is a little calmer. Obviously, they remember how things went last week and how they have gone in a number of cities, including New York and Brooklyn this past week.

How do you think this is going to go? What do you -- if you were to advise your fellow present agents how they handle this, what would you say?

CHARLES MARINO, CEO, SENTINEL SECURITY SOLUTIONS: Thanks, Neil.   Hundreds of protests take place around the White House, as we know, throughout the course of any given year, both large and small. And the majority of those are peaceful.

So, the law enforcement agencies around the area of the White House that interact with these protesters have a great deal of experience. You're talking about the Secret Service, the D.C. Metropolitan Police and the U.S. Park Police.

What we have seen here, unfortunately, with these protests is, we have seen the infiltration of the anarchist groups, the extremist groups, of which there are multiple, to take away from the messaging of those that would be otherwise peaceful protesters for the death of George Floyd.

So, as a result of that, we have seen an evolution, Neil, of the expanding, the required expanding of the perimeter around the White House. If we all recall, at the beginning of the week, Pennsylvania Avenue was open. Then it got a little violent, and then it was moved back to Lafayette Park and became more violent.

And, ultimately, it is where it is now, which is back on H Street. So, really, you have to look at history as an indicator. And if these protest groups continue to be infiltrated -- and we will see what happens tonight - - then the perimeter is going to have to stay the same to ensure that -- the safety and security not just of the White House, but also of the law enforcement officials and peaceful protesters that are participating.

CAVUTO: You know, Chuck, you're a good student of protests and rallies. And, obviously, you have to protect high people during this.

I can remember when President George Bush Sr. brought out troops, going beyond just the National Guard, after the Rodney King incident. That was back in 1992. And there was concern that he was overplaying it, it might have added to the friction, which is the argument I think that the Washington, D.C., mayor, Mayor Bowser, is saying, even when it comes to the Guard, that that just incites or -- more tensions.

What do you think of all that?

MARINO: Yes, my thoughts on that are, while there is a distinction between the National Guard functionality and those of active troops, as you stated, there is a great deal of concern any time the National Guard, a military functionality, is brought into a city.

Law enforcement are very proud of their community policing programs, where they know the business owners, a lot of the citizens. And they're there each and every day. So the trepidation is really when you bring in a military asset that does not function each and every day within a community.

So, that's really where the concern starts. However, the National Guard is highly trained in activities like this. They often train in conjunction with law enforcement agencies around the country.

And, as we all know, the National Guard served a vital role following the attacks of 9/11. They served in a capacity during security for large events like the inauguration and the Democratic and Republican Conventions.

So, there is a place there. But, as you stated, there rightfully is a concern. And they like to keep that National Guard option as a last resort at all times.

Now, I will conclude and say, I think it was fairly obvious that a lot of these policing departments across the country needed the help of the National Guard. They just did not have the numbers or the resources or the equipment to deal with what was going on in their communities.

So, in those situations, as much as they really didn't want to have them there, they really ended up helping these communities recover.

CAVUTO: Chuck, always good chatting.

Thank you, Chuck Marino, the former Secret Service agent, much, much more, with his thoughts on that.

Again, these protests are planned for this weekend, tomorrow, outside the White House.

We're looking at a couple of protests that are going on as we speak in Mansfield, Texas, and indeed in Washington, D.C. Again, these are relatively contained.

Washington has lifted its curfew that it had. I'm not quite sure about Texas, but I do know, in New York City, it remains at 8:00 p.m. If you're on the street, they will strongly advise you to get off it.

We will have more after this.


CAVUTO: All right, you are looking live Midtown Manhattan right now, where all eyes will be focused for another planned protest tonight, a big one planned for tomorrow. You know the drill on this. They get ready for that.

But there was a lot of damage to shops, stores, restaurants around the area, and this really just a couple of days before phase one reopening in Manhattan and the outer boroughs of New York City.

But it could be a bumpy ride.

Right now, Laura Ingle in the middle of all of that in Brooklyn.

Hey, Laura.


Well, there are 16 protests alone scheduled today in New York City, many more scheduled over the weekend. And, of course, many of them, most of them have been very peaceful. But we know that some have been filled with conflict.

And the hope is, as we get one step closer to phase one on Monday, we will see more calm than we will chaos. It's a lot going on here in the Big Apple. Thousands have marched through the streets today and have vowed to continue through the night, as they have for the last week, demanding justice and change after the death of George Floyd.

There were at least 270 arrests last night in the city, mostly for breaking curfew. Some officers were seen pushing back protesters. Others were being detained and taken away.

It is a scene that we have watched repeatedly for a variety of reasons over the last several days, including what happened last Friday, with the arrest of a woman who was seen on video throwing a Molotov cocktail at an NYPD van with four officers inside.

Now, while that woman remains in custody, the other two people she was with that night were released on home detention with GPS monitoring. We bring that up today because, in court earlier this afternoon, the government argued against that decision, but no ruling was made.

And as we have seen around different parts of the region, as protests ebb and flow, businesses around them, for the most part, are closed. But, on Monday, things will hopefully look a lot different, when this city opens phase one. And that, of course, is when several hundred thousand people are expected to return to the city.

That means a lot of people on public transit. And the question is, how is this all going to work out with no signs of these protests slowing down?

We will see -- back to you, Neil.

CAVUTO: All right, Laura, thank you very much. Great report, as always, Laura Ingle in the middle of all of that.

Again, that's quite a few protests, demonstrations planned. To Laura's point, let's hope they all keep peaceful here.

Meanwhile, back to the economy and the markets that were soaring. Will today's jobs report actually help the president keep his?

Stay with us.



BIDEN: While temporary layoffs went down, permanent layoffs went up.

Donald Trump still doesn't get it. He is out there spiking the ball, completely oblivious to the tens of millions of people who are facing the greatest struggle of their lives.


CAVUTO: All right, the former Vice President Joe Biden saying, the president is getting a little too gleeful about a surprisingly strong jobs report.

Most people thought we'd lose nine or 10 million jobs in the latest month. We gained 2.5 million. Most people were thinking we would have an unemployment rate bordering on 20 percent, still high at 13.5 percent.

But the trend lately on jobs figures of any sort have been the president's friend.

Frank Luntz on whether that could propel him to reelection.

Frank, very early on. This is a bit of a surprise, because the recovery, if this lasts, is happening, or at least starting sooner than thought. What do you think?

FRANK LUNTZ, POLLSTER: And the key is expectations, not reality.

I will take you back to 1976. The economy had already begun to improve, but not soon enough for Gerald Ford, who had narrowed a 30-point deficit with Jimmy Carter.

It's what happens really in September and October. And it's expectations, rather than the actual numbers themselves.

Second, Neil, the stock market. Donald Trump wants people to think that the stock market is a good measurement of the economy. And for about 55, 60 percent of Americans who are in it, they appreciate it.

But for those Americans who you have been seeing over the last few nights and for working-class Americans, no, they don't have stocks. They have not been a participant in this. And so it's really -- with five months to go, we really don't know where the economy is going to be.

We really don't know the anxiousness that people are going to have. And both -- Trump should not be spiking the ball, and Joe Biden should not assume that the economy is going to be ruined, because both of them could be wrong by Election Day.

CAVUTO: You know, they're both prone to say things that they sort of step back, Frank.

And, today, Joe Biden saying that 10 to 15 percent of the people out there are just not very good people. What did you think of that?

LUNTZ: Yes, well, that's the basket of deplorables all over again. We know the damage that did to Hillary Clinton.

So, you know that they're going to be Trump people wearing a button that says, I'm one of the 15 percent. It's just foolish.

And, Neil, I want to give you credit for this, which is you have spoken the truth throughout this pandemic. You spoke the truth throughout the challenges of the last six months that you have basically -- when Biden has said things that are foolish, you have held him accountable. When the president has said things that are foolish, even a point of criticizing you, you have held him accountable.

We have to be accurate. More than anything else right now, the public is demanding the truth from their elected leaders. And that is a warning to both Donald Trump and Joe Biden that they better be able to back up what they're saying. They better be able to have the facts behind them, and the public is going to push them, because there's a lot of anxiousness, a lot of nervousness right now.

And if they're not given the truth, that will just feed that.

CAVUTO: You know, you mentioned something interesting that I'd forgotten in the Jimmy Carter race with Gerald Ford, that that ended up being a very tight contest, and, as you said, the economy was rebounding.

It was too little, too late for people to perceive it for Gerald Ford. The similar situation for George Bush Sr. that paved the way for Bill Clinton. There could be a delay of when we see this economy. A lot of people know, all right, it's the virus. We get that. Now you have the new wrinkle of the protest and how that's going to sort out.

But it could be a while before you get all those 20 million jobs that have been lost, because that's what we're net down, despite what the markets are doing.

And I'm wondering -- you raised something interesting about how people feel about that. And I readily concur, and I cover it for a living, the markets, that there's a disconnect between Main Street and Wall Street.

And a lot of those people sheltered on Main Street, they're just not ready to say, I'm back.

LUNTZ: And not only are they not ready to say they're back.

I'm looking at what happened in 1980. And you know I'm a historian,. And Ronald Reagan and Jimmy Carter were absolutely dead even. They had their one debate. And in six days, the American people decided, you know what, why not the change? I have faith in the change.

This is a warning to Joe Biden that the American people are not going to vote for him if he cannot complete a sentence. They're not going to support him if he does not seem to have the ability to make it through four years of some very stressful management.

But, for Donald Trump, he's not going to be out of the woods until Election Day itself, because the public can change 10 points in a matter of one week. So, we really don't know with five months ago.

CAVUTO: How do you think the president has been handling the protests?

LUNTZ: Oh, I was hoping you would not ask me that question.

Because I'm a focus group guy, because I have spent a lot of time asking the public, I don't think the White House is going to like this, and I don't think the Biden campaign is going to like this.

The public wants empathy more than anything else. Show me, not tell me, show me you understand my pain, show me you understand my anger. If you're a small business owner, why am I being looted? Why is all this destruction happening in front of my businesses, when the police are just one block away?

And if you're African-American or someone of color, why does this injustice keep happening day after day? Donald Trump is very strong and very tough, but there's no empathy to his communication. And that is what the vast majority of independents and moderates are looking for, somebody who understands their heart.

CAVUTO: Very well said.

All right, Frank Luntz, very good catching up with you, my friend, Frank Luntz, a great political historian. I had completely forgotten that '76 race and the significance of that.

Not forgetting these protests that are going on right now. They hope to be contained. And, by and large, I want to stress, most of them have been, including in New York of late.

So we're keeping a close eye on that -- after this.


CAVUTO: A lot of people like to trash the country and talk about all these protests, they're all violent and everything.

And the fact of the matter, as I said, they are really not. They have done a statistical analysis of this.

And then there's what's happening at the corner of Wall and Broad, a big gain, on the view that a lot of people are itching to get back to work, and a lot of people are finding the opportunity coming closer than they thought.

This is another remarkable development here. Look at all the leisure, airline and the stocks that were decimated, and how much they have come back.

For the airline industry itself -- you will have to take my word on it, but huge gains today, on the belief that more Americans are interested in getting out of their homes and traveling and seeing what's out there, and realizing, we have a shot at making a better country and a better future.

Remember that.

Here comes "The Five."

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