Stocks soar after positive May jobs report

This is a rush transcript from "Special Report," June 5, 2020. This copy may not be in its final form and may be updated.

BRET BAIER, FOX NEWS ANCHOR: Good evening, I'm Bret Baier. "BREAKING TONIGHT", President Trump is calling it the greatest comeback in American history. A much stronger than expected jobs report led to a huge day on Wall Street and the president, taking an extended victory lap in the Rose Garden.

The economy rebounded from its coronavirus inspired tumble to post 2-1/2 million jobs gained in May. Economists had predicted a loss of eight to nine million jobs. The unemployment rate dropped from 14.7 percent to 13.3. And as a result, a huge day on Wall Street.

The Dow jumping 829. The S&P 500 rose 82. Both had their highest finishes since late February. The NASDAQ gained 198 after hitting an all-time high. For the week, the Dow skyrocketed almost seven percent. The S&P 500 jumped about five, the NASDAQ rose about 3-1/2.

We have "FOX TEAM COVERAGE" tonight. Susan Li in New York goes inside the numbers on Wall Street and with the U.S. economy. But we begin with correspondent Kristin Fisher, live on the North Lawn. Good evening, Kristin.

KRISTIN FISHER, FOX NEWS CORRESPONDENT: Good evening, Bret. President Trump is ending the week with some much-needed good news. After months of terrible economic reports, today, he said the recovery has begun.


DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Today is probably, if you think of it, the greatest comeback in American history.

FISHER: President Trump walked into the Rose Garden to say he believes he now has an answer to the question every American has been wondering.

TRUMP: And we were worried, we didn't know is this going to be a hurricane or a major, major recession. And this was a hurricane.

FISHER: Economists had been predicting the unemployment rate to approach 20 percent, and the economy to lose around 9 million jobs. Instead, it dropped from 14.7 percent to 13.3 percent. And the economy added 2.5 million jobs. President Trump is calling it one of the greatest miscalculations ever.

TRUMP: We've been talking about the V. This is better than a V. This is a rocket ship. The president says it's a sign that his administration's policies are working. Today, he called on Congress to pass another economic stimulus package, including a payroll tax cut, and he also signed a fix for the Paycheck Protection Program.

But the May jobs report wasn't an improvement for all Americans. The unemployment rate for Black Americans went up to 16.8 percent. Senate Minority Leader Chuck Schumer, told the president, "With nearly 20 million people out of work and unemployment among African Americans increasing, now is not the time to be complacent or take a victory lap."

Today, President Trump took a trip to Maine to visit a company that makes medical swabs used in coronavirus tests. And he told what he calls, the lockdown governors, that it's time to open up.

TRUMP: We understand this disease now, we didn't understand it. We may have some members or some ashes or we may have some flames coming, but we'll put them out. We'll stop them out.

FISHER: Heading into a weekend in which more mass protests are planned, the president also had a message for governors who've been reluctant to dominate the streets.

TRUMP: Don't be proud. Get the job done. You'll end up looking much better in the end. Call in the National Guard, call me.

FISHER: Despite the tough talk, the president is also acknowledging the good that's come from these protests across the country.

TRUMP: What you now see, it's been happening. This is the greatest thing that can happen, where race relations, where the African American community.

FISHER: But the way Attorney General Bill Barr dominated the streets outside the White House, Monday night did not sit well with the president's former chief of staff John Kelly.

He says he agrees with former defense secretary James Mattis that the president is actively trying to divide Americans and not unite them.

JOHN KELLY, FORMER WHITE HOUSE CHIEF OF STAFF: We need to look harder at who we elect. What is their character like, what is their -- what are their ethics.


FISHER: And John Kelly also said that if he had still been the White House chief of staff, then he would have advised President Trump against making that walk to St. John's Church on Monday night. Bret.

BAIER: Kristin Fisher, live in the North Lawn. Kristin, thanks.

Let's get some analysis on the economy from Susan Li, a Fox Business in New York. Good evening, Susan.

SUSAN LI, FOX BUSINESS NETWORK CORRESPONDENT: Good evening, Bret. Stock markets rallied after one of the biggest surprises in labor market history. Instead of losing 8 million jobs, the U.S. economy added over 2-1/2 million that helped propel the NASDAQ to a record high. The S&P 500 within one percent of going positive on the year, while the Dow crossed at 27,000.

Not only the jobs reports but Wall Street like the talk of more government money for the economy.


TRUMP: So, we're going to be asking for a payroll tax cut. We'll be asking for additional stimulus money because once we get this going, it will be far bigger and far better than we've ever seen in this country. We're looking at doing something in terms of an incentive with taxes. It could be deductions; it could be something else. But we'll be announcing it pretty soon.


LI: America's biggest company, Apple hit record highs Friday along with shares, and Home Depot being down travel stocks like airlines rallied. American Airlines up 75 percent over the past week. Boeing is up over 40 percent.


ROBERT DOLL, SENIOR PORTFOLIO MANAGER. NUVEEN: There's no question the stimulus that, that line a payroll tax cut. You know, talked about rumored, but he threw it in there again, and that added some fuel to the fire.


LI: Stock markets hitting new highs despite the nationwide protests this week. Historically, there has been a disconnect between what investors focus on, and what happens across the rest of the country.

For instance, in 1968, the week after the tragedy of Martin Luther King, the S&P 500 rose over two percent. Also, up the week after the Rodney King ruling, and Wall Street trading on the reopening instead this year in 2020.

Now, despite the positive surprise in the jobs market last month, the average Wall Street economist is still predicting the U.S. economy to shrink by, at least, a third in the year 2nd quarter from April to June, but maybe encourage now to predict a faster recovery in the back half of this year. Bret.

BAIER: Susan Li in New York. Susan, thanks. As protests taper off were pause and violence calms in some places in the wake of the George Floyd killing, we are seeing the start of some of the legal maneuvering surrounding the charges against three current and one former Minneapolis police officer.

There's also a movement toward police reform across the country. Senior correspondent Mike Tobin has the latest tonight from Minneapolis.



MIKE TOBIN, FOX NEWS SENIOR CORRESPONDENT: A move to reform the Minneapolis Police Department. The city's council members voted today to ban neck restraints and chokeholds and require other officers to jump in when they see inappropriate force.

It would also require approval from the chief if crowd control measures like tear gas will be used and increase transparency in police discipline cases. The measure now needs a judge's approval.

ALONDRA CANO, COUNCIL MEMBER, MINNEAPOLIS CITY: This system does not work. This system cannot be reformed and we must do something different.

ANDREA JENKINS, COUNCIL MEMBER, MINNEAPOLIS CITY: Long overdue changes addressing the systemic issues that has made public safety and policing deadly and detrimental for so many people in our community.

TOBIN: The finger-pointing has begun by the attorneys of the three other former Minneapolis police officers charged. Alexander Kueng's lawyers argue the 26-year-old was only on his third shift, while Thomas Lane was on his fourth day. Their defense casting blame on their senior training officer Derek Chauvin.

EARL GRAY, ATTORNEY FOR THOMAS LANE: You've got a 20-year cop in the front, and my guys back there with four days, shall we roll him over? And he says, no, we'll wait for the ambulance twice. And then he says, he's suffering from a delirium? I don't know -- I don't know, what you're supposed to do as a cop.



TOBIN: Demonstrations continue around the nation, including in New York City where an 8:00 p.m. curfew remains in effect. While many protests remained peaceful, close to 300 people were arrested overnight. The Big Apple's mayor pledging that police accused of being aggressive with protesters will be disciplined.

And in a tough to watch video, an investigation is underway in Buffalo, where police officers are seen pushing a 75-year-old man who fell and hit his head on the ground and started bleeding.

Two officers have been suspended without pay. New York's governor calling for their firing and possible charges.

GOV. ANDREW CUOMO (D-NY): It's just fundamentally offensive and frightening. It's just frightening.


TOBIN: That man, Martin Gugino is in serious but stable condition. All 57 members of the Buffalo P.D. Emergency Response Team, the unit that handles crowd control at protests have resigned from the unit in support of the officers who were suspended. Bret.

BAIER: Mike Tobin, live in Minneapolis. Mike, thank you.

Let's talk now in depth about race relations in America after what we've seen. Shelby Steele is a senior fellow at Stanford University's Hoover Institution. Shelby, thanks for being here. We appreciate it. I want to get your 30,000-foot view of what we've seen over the past few days and your reaction to it.

SHELBY STEELE, SENIOR FELLOW, STANFORD UNIVERSITY'S HOOVER INSTITUTION: Well, boy, it's -- in many ways, it's something of a carnival. There's there is, I think, a lot less happening that seems to. It's very dramatic on the surface and it looks like, you know, sort of classics of reminiscent of the civil rights movement and so forth.

But actually, it seems to me there's not much happening here at all. It's a kind of a repeat of what we've seen for throughout my lifetime. And so, I think there's something -- there's pathos here.

It's like we've done this too many times. We've been here too many times. We've seen this kind of thing and there's a big hullabaloo, and then it sort of fades away, and this is already beginning, I think, to fade. What was it all about? What was the point? What did these various groups -- what did they want?

They -- striking to me about this particular one is that there was not even a list of demands, usually, there's always a long elaborate list of demands. That wasn't the case here. There's nothing that you can come away from. This entire episode last two weeks or so.

That -- that's meaningful. We -- people are talking about police reform. Well, I'm all for police reform. I think most people want to -- want to see the best policing we can possibly get.

But this, this wasn't called, and police reform didn't trigger this. This is -- this is something else. It seems to me there's a generation here that doesn't quite know where to go, doesn't know what to looking at racial tensions, and problems in the black community, and there's no longer any sort of idea what we ought to be doing to work on those things to fix them.

BAIER: Well, here is a Reverend Al Sharpton at the memorial service for George Floyd in Minneapolis. Take a listen to this.


AL SHARPTON, FOUNDER, NATIONAL ACTION NETWORK: George Floyd's story has been the story of black folks. Because ever since 401 years ago, the reason we could never be who we wanted and dreamed to be in is you kept your knee on our neck.


BAIER: Went on to say, essentially, that this is the moment, and repeated the systemic racism in this country. Your response to that.

STEELE: My response to that is that Al Sharpton is a master of this old form of politics that comes out of the 60s where we as blacks cry victimization and demand the larger society, give us things, of some kind of another.

I will take Al Sharpton seriously. And I know him, he's a nice, nice person. I will take his message here seriously, when he stands before congregation like that of black -- people in America over a tragic event, and says what Black Americans can do to get out of the situation that we're in?

No one from the president on down anywhere, says, what role? What's going wrong with Black America? Why are they so dependent on White America, on the government? That all they can think of is themselves as victims, which then, of course, deflates them as human beings, undermines their best energies, their best intentions, and keeps -- and so, after 50-60 years now, past the civil rights bill, we're worse off in many socio-economic categories than we were 60 years ago back then.

I don't blame that in time and I understand why it happened. And the kind of liberalism that came in, and really took over our fate. Took it away from us. White America in many ways did that, and they needed it for their own reasons.

White America's live under this accusation that they're racist, they need to prove that they're not racist. In order to prove that you're not racist, you need to take over the fate of black people and say, go with us, we'll engineer you into the future, we'll engineer you into equality.

Life doesn't work like that. We have to engineer ourselves. Period. There is no other way. It -- unless you can rewrite the rules of the human condition. There is no circumstance in history where people can -- no matter -- no matter how much guilt they have over the oppressive majority, there is no -- there's no indicated -- indication anywhere that you can somehow get them to lift your -- lift you up and get you out of your -- the condition that you're -- it's not a possibility.

So, Sharpton is --


BAIER: You said there's not a list of things. There is a -- go ahead.

You said there's not a list of things, there is the -- there is -- or everything from defund to the police we've seen to retribution, essentially, monetary payments to level the playing field. Is there a solution out there that politically can get you --


STEELE: Hold up.

BAIER: -- you can get your head around.

STEELE: I will take that -- those things seriously. When I also hear from Sharpton and others, the argument that we need within the black community to work on the institution of marriage. Our families have fallen to pieces. 75 percent of all black children are born out of wedlock, without a father.

I don't care how many social programs you have. You're not going to overcome that. That's where we need to put -- all right, that's what the messages seems to me in this tragedy is, is that we, as Black Americans have to begin to take our fate back into our own hands and move it -- the stop crying racism.

There's a little racism out here, always was, and always will be. Why -- just why is that an argument to stop, to not move forward, to not be responsible for your own fate? Well, again, it's that -- it's that we live in a wealthy, liberal, bend over backwards, differential nation has hurt us in terms of moving out of the 400 years of oppression that we were subjected to.

And we're got -- we're never going to get out of it. And you can -- you can again fix to have the police go this many sensitivity training classes as you want. It's not going to me -- it's not going to read a story to a child that night before he goes to sleep so he's developing his mind and he's getting ready to go to school and be serious about the academic and educational development. So he can someday compete in the most advanced society in the modern world, where one has to be.


STEELE: Really strange and developed in order to be successful. When I see that focus, I feel a lot better.

BAIER: Well, we've had a number of different voices all throughout these days. And we appreciate yours. Shelby Steele, thanks for being on.

STELLE: Thanks for having me.

BAIER: Next, the former vice president makes his own economic speech with a different tone. We'll bring you that.


BAIER: "BREAKING TONIGHT", France's defense minister, says, his countries armed forces with the support of their partners neutralize the leader of an al Qaeda branch and Islamic Maghreb.

The minister, says Abdelmalek Droukdel, and several of his close associates were killed during an operation in northern Mali, Wednesday. If true, that is a big terrorist takedown.

In tonight's "DEMOCRACY 2020" report, when good news for the country may be bad news for a certain candidate. Joe Biden is reacting to the morning's positive employment numbers by going negative on something President Trump said in the Rose Garden.

Correspondent Peter Doocy has the story tonight from Dover, Delaware.

PETER DOOCY, FOX NEWS CORRESPONDENT: How does a democratic challenger cast doubt on an unexpectedly strong jobs report? Like this.

JOE BIDEN (D), PRESIDENTIAL CANDIDATE: I was disturbed to see the president crowing this morning. Basically, hanging a mission accomplishment banner out there.

DOOCY: But some Americans still struggling might not get much sympathy from Biden. As he surveys unresolved racial issues.

BIDEN: Then we really think this is as good as we can be as a nation? I don't think the vast majority of people think that. They are probably anywhere from 10 to 15 percent of people out there, they're just not very good people.

DOOCY: 15 percent of Americans is 50 million people. And Biden's comment sounds somewhat familiar.

HILLARY CLINTON, FORMER FIRST LADY OF THE UNITED STATES: You could put half of Trump supporters into what I call the basket of deplorables.

DOOCY: Biden's campaign scheduled today's speech about the economy before today's good news about the economy. And now, the RNC chair tweets, "Joe Biden clearly bet against America by scheduling a press conference ahead of what he thought would be a bad jobs report."

The president himself tweeted about the strong jobs report. "Oh no, the Dems are worried again. The only one that can kill this again is Sleepy Joe Biden."

But something else Trump said offended Biden.

TRUMP: Hopefully, George is looking down right now, and saying this is a great thing that's happening for our country.

BIDEN: George Floyd's last words, I can't breathe. I can't breathe. For the president to try to put any other words in the mouth of George Floyd, I frankly think it's despicable.

UNIDENTIFIED FEMALE: We got you're right here, my love.

DOOCY: Biden is promising a jobs plan in coming weeks, but until then, his campaign is pretty much all about Trump.

TRUMP: Every American has a choice to make in November.


DOOCY: This has been Biden's first week back in the campaign trail since before COVID locked downs within-person campaign events. But the only people there are press and local officials. No opportunity to get face to face or face mask to face mask with voters, yet. Bret.

BAIER: Peter Doocy in Dover, Delaware. Peter, thanks.

Up next, will coronavirus infections jump because of the George Floyd protest? We'll bring you that story.

First, "BEYOND OUR BORDERS," tonight. Officials in Venice expect another unseasonably high tide tonight. A quarter of the city has been submerged by the near-record high tide for June, a time of the year when such flooding is rare.

Venice's sea monitoring agency blames a storm in the Atlantic that brought heavy winds and rain to northern Italy.

A fourth round of talks on a future trade deal between the European Union and the United Kingdom ends without an agreement. The deadline for a possible extension of the Brexit transition period, July 1st.

Tomorrow, 76th anniversary of the D-Day invasion will be much different than in previous years. The coronavirus is keeping almost everyone away from the Normandy beaches. Rain and wind are also in the forecast.

On June 6th, 1944, allied troops began the operation that, of course, turned the course of World War II and led to the defeat of fascism in Europe and changed the world.

Just some of the other stories, "BEYOND OUR BORDERS" tonight. We'll be right back.


BAIER: There are concerns tonight the protests over the George Floyd killing could lead to a new surge of coronavirus infections. Many of the social distancing guidelines that experts believe to help control the pandemic are routinely ignored during demonstrations, and some medical experts have seemed to dial back their warnings. Correspondent Casey Stegall looks at the ramifications tonight from Dallas.


CASEY STEGALL, FOX NEWS CORRESPONDENT: After months of American cities looking more like ghost towns, now the polar opposite. Tens of thousands packed city streets, protesting the death of George Floyd. How do communities balance the right to protest without spreading the virus, especially in instances where police used tear gas or pepper sprays?

ROBERT REDFIELD, DIRECTOR, CENTERS FOR DISEASE CONTROL AND PREVENTION: Definitely coughing can spread respiratory viruses, including COVID-19.

STEGALL: The CDC director Robert Redfield, while testifying on Capitol Hill, suggested the events could ignite a second wave of infections. New York Governor Andrew Cuomo agrees --

CUOMO: If you were at one of those protests, I would out of an abundance of caution, assume that you are infected.

STEGALL: Coast to coast, many health officials are urging those who attend the protest to wait a few days and then be tested. Some states like Texas and Florida has seen spikes in new coronavirus cases and deaths this week, though leaders say it's too early to tell if it's attributed to the mass gatherings and everyone will know more in about two weeks.

Beaches were packed over Memorial Day weekend, many perhaps feeling a little bit safer after the notion that higher temperatures and humidity may help kill or reduce the virus spread. But just this week Dr. Francis Collins, the National Institutes of Health director, saying new studies show that may not be the case, writing in his blog in part, "Humans' current lack of immunity, not the weather will be likely be a primary factor driving the continued rapid spread."


STEGALL: Then there's the whole mixed messaging, how some experts advocated keeping the economy closed and now say that it's safe to be packed tightly into protests. One thing people do seem to agree on -- wear a mask in public. Bret?

BAIER: Casey, thank you.

President Trump is ordering the military to remove nearly 9,500 troops from Germany. That's according to "The Wall Street Journal" that reported that first. It would reduce the number of personnel there to 25,000. A senior administration official says some of the troops will be sent elsewhere. Some will return home. That official says the move is the result of months of work by the Pentagon and has nothing to do with tensions between the president and German Chancellor Angela Merkel.

Meantime, back in the U.S., the mayor of Washington, D.C., wants President Trump to remove federal law enforcement and military personnel from the district's streets. This occurs during a major backlash against law enforcement in parts of the country following the George Floyd killing. Here's correspondent Doug McKelway.


DOUG MCKELWAY, FOX NEWS CORRESPONDENT: This morning D.C. Mayor Muriel Bowser unveiled the giant letters on 16th Street two blocks from the White House. They spell out "Black Lives Matter." She also renamed the block Black Lives Matter Plaza. The ceremony came after Mayor Bowser evicted 1,200 National Guard troops from D.C. hotels, including 200 from Utah, booted from D.C.'s Marriott Marquis Hotel after a 12-hour overnight shift.

SEN. MIKE LEE (R-UT): In the middle of a deployment, in the middle of their fourth consecutive all-nighter, they are being told they're not welcome there.

MCKELWAY: Lee asked for an apology. None came. Bowser told FOX News today the eviction was a budget issue.

MAYOR MURIEL BOWSER (D), WASHINGTON, D.C.: We don't think that soldiers should be in the nation's capital patrolling or policing streets. We've made that formal request to the White House.

MCKELWAY: The conflict occurs amidst a nationwide fraying of the blue line. In New York, police reform advocates want $1 billion cut from the NYPD budget.

MAYOR BILL DE BLASIO (D-NY), NEW YORK CITY: You will see change in the NYPD. We simply have not gone far enough. The status quo is still broken. It must change.

MCKELWAY: After protesters rallied outside of the home, Mayor Eric Garcetti of Los Angeles promised to redirect $250 million of his city budget.

MAYOR ERIC GARCETTI (D-CA), LOS ANGELES, CA: Those dollars need to be focused on our black community here in Los Angeles. And will this involve cuts? Yes, of course.

MCKELWAY: Louisville, Kentucky, Mayor Greg Fischer fired that city's police chief amidst widespread rioting. When he appeared before a police roll call, dozens of officers silently filed out. One high profile former mayor says reducing police presence would come at a high human cost.

RUDY GIULIANI, PRESIDENT TRUMP'S ATTORNEY: If they do, the major victims are going to be African Americans. Look, 70 percent to 75 percent of the homicides in New York City, the victims of African American and the perpetrators are African American.


MCKELWAY: A new Marist poll shows that a sizable majority of Americans, 56 percent, believe that police are acting appropriately or not aggressively enough. Bret?

BAIER: Doug McKelway in the district. Doug, thanks.

President Trump celebrates a surprising job report that suggests the economic recovery from the coronavirus much stronger than expected. We'll get reaction to all of that from the panel when we come back.



DONALD TRUMP, PRESIDENT OF THE UNITED STATES: We were worried. We didn't know, is this going to be a hurricane or a major, major recession. Everything that you've seen this morning is unexpected. Even the pros sitting here would understand that, everything.

We also smashed expectations on the unemployment rate. The prediction was the unemployment rate would rise to over 20 percent, and instead it dropped to around a little more than 13 percent, slight difference.

Today is probably, if you think of it, the greatest comeback in American history. But it's not going to stop here. It's going to keep going.


BAIER: It was surprising, the jobs report out today and the unemployment rate going from 14.7 percent to 13.3 percent. And as far as jobs, the prediction was that there could be some 8 million to 9 million lost, but instead there was a gain of 2.5 million. Still, over the last three months you see the drop there, 19,551,000 total. But this an indicator, perhaps, that good things are to come. The president obviously touting that today.

Let's bring in our panel, "Washington Post" columnist Marc Thiessen, former Tennessee Congressman Harold Ford Jr., who is currently the chairman of RX Saver, and Bill McGurn, columnist for "The Wall Street Journal." Bill, your thoughts on these numbers, the prediction game, and where -- obviously the market loved the scenario -- where we are as an economy?

BILL MCGURN, FOX NEWS CONTRIBUTOR: Well, I hope we are going up. I think the president is right. It's a big day, it's a good day, it's encouraging news. But if you look at that graph, you'd say we are still not in great shape.

Look, I think the thing about the unemployment we have had is it should come back strong because the economy didn't shut down because of economic problems. It was shut down because of a medical emergency. So there is a lot of pent-up demand there. There are a lot of people who are really itching to get back to work, to open up their shops. I see a little bit of it here in my little town of New Jersey, how many of these shops have been closed and are starting to open. And I hope that has a huge ripple effect as more and more businesses are allowed to reopen.

BAIER: Harold, I think that there is some question about how much of this is tied to the PPP program, how many of these jobs are coming back based on that program and what that means as far as that federal input, but it is positive no matter how you look at it.

HAROLD FORD JR. (D), FORMER TENNESSEE REPRESENTATIVE: Without a doubt. I think whatever side of the political aisle you sit on this evening, you have to be pleased with 2.5 million more Americans finding their way into the economy, or to the marketplace. But as Bill said, there are 20 million Americans still without. There was a disturbing trend there where African American unemployment ticked up a little bit.

But I give the president some credit in this regard. He normally cheerleads even more. I was surprised he didn't push it even further. I think the focus now has to be on how do we ensure that over the next month, two, three months, that we keep those who are on the sidelines now, that we continue to give them, be they states, local governments, hospitals, everyday individuals who may not be working out, when this economy resets and readjusts itself, are there going to be a need for as many people in offices as there are today, the kinds of jobs that existed, pre-pandemic. So as much as the president took a victory lap today, for him it's not as big as I thought it would, but for the average person, I think we need to take all this in stride, as Bill so aptly said.

BAIER: Yes. Marc, if you look at the week, it wasn't a great week for the president. All of the pushback for the walk across the street. And then you had General Jim Mattis, his first defense secretary with his comments. And then today General John Kelly, his former White House chief of staff, and prior to that Homeland Security secretary, saying he agrees with Mattis that President Trump is a threat to the constitution, but he ends the week on this high note.

MARC THIESSEN, AMERICAN ENTERPRISE INSTITUTE: Nothing is better to change your political dynamics than good economic news. And just to put those numbers in perspective, we had suffered the worst job loss since the Great Depression. These are the best job gains since the Bureau of Labor Statistics started collecting numbers in 1939.

So the bounce back is real, and I think it's going to accelerate because of the protests. If you think about it, a few weeks ago, we were talking about phased reopening. You remember that? Phases is gone. We're way past phased reopening. All of these businesses, the same people who were telling all these business owners that you are selfish for wanting to reopen your business so quickly and you're putting all of us at risk, all of a sudden are now saying everybody go protest. It's OK. And these business owners are going to say, to heck with this. If people can march, I can open my business, I'm getting my life back. So I think a lot more business owners are going to go ahead and start opening up regardless of what the experts tell them, and the economy is going to start rebounding.

BAIER: It is interesting to watch that evolution, Bill, about the warnings from medical experts who have changed or dialed back a little bit about some of this protest activity. And there are, obviously, churches that say, wait, what about us? Do you think this after these protests it changes the dynamic in weeks later?

MCGURN: I agree with Marc. First of all, people see the double standards, right? Only a month ago or something, we had a woman in Texas arrested and sent to jail for opening her hair salon. And now we have people throwing bricks through windows with impunity. People aren't going to stand that.

I think there is also equal pressure if not more. Some states have reopened, and I think that puts pressure on the states that haven't. It is going to be a lot harder to sustain restrictions as people watch their neighbors reopen, unless there's some huge outbreak which so far hasn't happened.

BAIER: Harold, last word on this.

FORD: I don't want to be a Debbie downer, but look at some of the states that have reopened. Georgia now has higher hospitalization rates in New York, and New York obviously started with a much bigger number. So we need to be mindful and watch this. I understand what Bill is saying about people wanting to reopen, but we can't overlook the fact that we are still coming out of a pandemic. This awful thing in Minneapolis, this tragedy has overshadowed some parts of it, but we shouldn't forget where we are from a health standpoint and science standpoint.

BAIER: Yes, and we will see where these numbers end up shooting, if they go up in some of these places that have these big protests, we'll be watching that.

Panel, stand by. Next up, the Friday lightning round, featuring the racial component of the 2020 campaign, Candidate Casino, and Winners and Losers.



TRUMP: Equal justice under the law must mean that every American receives equal treatment in every encounter with law enforcement, regardless of race, color, gender, or creed. Hopefully George is looking down right now and saying this is a great thing that's happening for our country. This is a great day for him.

JOE BIDEN (D), PRESIDENTIAL CANDIDATE: For the president to try to put any other words in the mouths of George Floyd I, frankly, think that is despicable. And the fact that he did so on the day when black unemployment rose, Hispanic unemployment rose, black youth unemployment skyrocketed, tells you everything you need to know about this man.


BAIER: Well, that comment obviously getting a lot of attention, the Rose Garden and reaction from the former vice president, as this race stands in flux. It looks like most polls have Joe Biden on top. A new Monmouth polls with similar numbers to what we've seen from other polls on a national level. We have also seen some battleground polls that reflect this. The RCP average tracking about the same, Real Clear Politics average. We're back with our panel. Marc, where did you put this race tonight?

THIESSEN: I think that the president was strengthened today because of the good economic news, and I think Joe Biden made a huge, huge mistake in talking down the good economic news. Think about what our country has been through. We have been through the worst economic devastation since the Great Depression, followed by the worst social unrest since the 1960s. Americans are desperate for some good news, any good news. And finally, good news arrives. And Joe Biden says, don't celebrate. That's the worst possible message you can have. It sounds like he's rooting against the economic recovery. So I think he did a lot of damage to himself today.

BAIER: Harold, response to that?

FORD: I would have said it differently if I were Vice President Biden. Position statements and positioning is not enough. We need a big vision. I think he could have said COVID unmasked a lot of things, a lot of disparities in our economy and demonstrated we need new investments in biotechnology, biopharmaceuticals, advanced manufacturing, because we have millions of Americans who are on the sidelines, and if I'm president, here's what I will do. That is the challenge for the vice president. The more he does of that, the less Marc can say what he just said.


BAIER: OK, Charlamagne Tha God, this guy is getting a lot of press. Obviously the former vice president, Joe Biden, going on there, making that statement about if you ain't -- you ain't black if you support or think about supporting Donald Trump. Here he is talking about the V.P. choice.


CHARLAMAGNE THA GOD, RADIO HOST: If Barack Obama was JFK, then Joe Biden needs to be Lyndon B. Johnson. Biden's record in the Senate actually reflects very racist legislation, but he has a chance to correct that by doing right by black people.

I think he needs to announce one of these overly qualified sisters as his running mate, whether it's Senator Kamala Harris, Val Demings, Keisha Lance Bottoms, Stacey Abrams.


BAIER: So that is our cue to take a trip down to Candidate Casino. You have $100 in chips. This is the V.P. version. Bill McGurn, $100, where you going?

MCGURN: OK, I put $40 on the mayor of Atlanta, Keisha Bottoms, for her strong response to the riots. I think Stacey Abrams is likely. She would certainly fire up the Democrats, but I only put $30 on her, and $30 on Kamala Harris. Again, on paper she looks very attractive, African American, big state, has some support. But her roles as a prosecutor comes in for some criticism. So that is the kind of dilemma Joe Biden has. I think it is almost certain he has to pick an African American woman to be on his ticket now.

BAIER: Harold Ford Jr., $100 in chips.

FORD: I went $35 Kamala Harris, $35 Elizabeth Warren. I think both of them give him some advantages in places where he's weak. I gave $10 for Val Demings, who I think is an interesting dark horse here, but from Florida, her husband is an elected official, their dynamic in so many ways can be appealing. I still think Gretchen Whitmer is not out of this because Michigan in the Midwest is going to be so critical. And I still think there is a small chance that Joe Biden makes that back and decides he wants to pick a male, pick a guy in the race. So I think this thing is still in the air. It's still fluid in that campaign. They're thinking who can be president, and who can help govern if he's elected.

Wow, I was not seeing the $10 chip on a male candidate, but interesting play. Marc Thiessen, $100 in chips.

THIESSEN: I'm with brother McGurn. I think he is going to pick a black woman for his candidate, so I put $30 Val Demings, $30 on Kamala Harris, $20 on Keisha Lance Bottoms, and $20 on Susan Rice. The problem with Stacey Abrams is she is completely unqualified to be commander in chief even if she has political appeal. Susan Rice on paper, African American woman and was national security advisor, could step into the job. I think that that is attractive to him.

BAIER: All right, panel, thank you. Winners and Losers next week. I gave the extra time to Shelby Steele tonight. We appreciate it and have a good weekend. When we come back, "Notable Quotables."


BAIER: It's Friday. That means "Notable Quotables."


TRUMP: When Americans are united, there is nothing we cannot do.


UNIDENTIFIED MALE: I think this is something that should really get people right in the heart.

UNIDENTIFIED MALE: What's the first thing you are going to do when you get home?

UNIDENTIFIED MALE: I'm going to Disney World.

TRUMP: We were able to close our country, save millions of lives, open, and now the trajectory is great.

REP. NANCY PELOSI (D-CA): It is a threshold our country has crossed.

UNIDENTIFIED MALE: If I'm not over here messing up my community, what are you all doing? You all are doing nothing, because that is not going to bring my brother back at all.

TRUMP: These are not acts of peaceful protest. These are acts of domestic terror.

UNIDENTIFIED MALE: Be responsible because the last thing we want to do but see a spike in the number of COVID cases.

UNIDENTIFIED MALE: The general is entitled to his opinion. I'm not a big believer in kissing and telling.

UNIDENTIFIED MALE: Don't let the president pushed him into doing things that you know are wrong.

UNIDENTIFIED MALE: Will you still support President Trump then? Is that something you are struggling with?

SEN. LISA MURKOWSKI, (R) ALASKA: I am struggling with it. I have struggled with it for a long time.

UNIDENTIFIED FEMALE: Is that your Bible?

TRUMP: It's a Bible.

BIDEN: I just wish he opened it once in a while a while.

UNIDENTIFIED MALE: It's time for us to stand up and George's name and say get your knee off of our necks!

UNIDENTIFIED MALE: Thank you. Thank you. Thank you. God bless you.


BAIER: One week in America.

Thanks for inviting us into your home tonight. That's it for this fair, balanced, and unafraid report on SPECIAL REPORT. Remember, we as a country can get through anything, we can solve anything -- 76 years ago tomorrow, thousands of U.S. soldiers stormed the beaches of Normandy for D-Day.

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