Transcripts For FBC Cavuto Coast To Coast 20240713

Even though some of might be different directions. Were monitoring that. Monitoring what is the second biggest point gain so far, for the dow jones industrials. All major averages are advancing pretty smartly, right now, amid talk that this deal will get done, timing is only issue here. Whether this stimulus measure. That is out there, will be enough. Including that lockdown in wuhan, the epicenter of the coronavirus, slowly by surely. Keep in mind that about 60 million chinese remain in this proverbial lockdown. But the biggest of all was instituted a few moments ago with indias Prime Minister, announced a lockdown not for a section of country, not for some in this country but for all. 1. 3 billion indians in his country. This will last for 21 days. Youre beginning to see a trend here that shows the frantic efforts we are taking to provide stimulus to sort of slow the Economic Impact or the a least the arrest the blows in this country. As other countries are sort of dramatically acknowledging the obvious, extending lockdowns that are very common in this country for half the american population. This is a stay at home feature in this country. Where half of americans have been told to stay close to home. You dont have to go out, dont go out. In india theyre going one step further to say out right, you cannot travel even within india. If you have to go out better be for emergency, or else they will haul you in jail. Weve got that. We got blake burman at white house with the latest on stimulus and a lot more to come out of washington. Blake what are you hearing . Reporter hi, neil. The feeling among democrats and republicans that this deal is very close, within reach, probably going to be potentially i should say be announced in the upcoming hours. In fact Chuck Schumer, top democrat in the senate said a little while ago, last night if they were on the five yard line, using football reference, they feel like they are on the two yard line. Senior Administration Official telling fox earlier this morning, as of this point, this is what already has been negotiated and agreed to by both sides. Pretty bigticket items. Includes relief for hospitals, Unemployment Insurance we were talking about, tax breaks and deferrals, direct payments to individuals and families. Im also told there is an agreement on oversight for half a trillion dollars headed to large corporations. The package also includes money for airlines and senior Administration Official says that will involve the leadership from the airlines, either choosing a Loan Facility program or a grant option, with conditions likely attached to both. That officials saying quote, airlines have three choice the right now, loan, grant, bankruptcy court. So they get to pick their poison. Back here at the white house, neil, there is renewed talk about potentially opening up the economy or reopening up the economy. President trump once again fueled the conversation with this tweet earlier this morning, writing quote, our people want to return to work. They will practice social distancing and all else. Seniors will be watched over protectively and lovingly. We can do two things together. The cure cannot be worse by far than the problem. Congress must act now. We will come back strong. Remember, neil, state leaders, state governors making decisions within their areas about all the different restrictions were seeing all across the country. So i asked larry kudlow earlier this morning, what could the federal government actually do, when it comes to reopening the government . Reopening the economy, rather . This was his response. Guidance probably the best way to put it at this stage. Guidance, we dont exercise monolithic authority. Were taking emergency measures. Were working together on this i have to be vague right now, this is just an idea that is beginning to build. Reporter a week ago, neil, in the 15day window that the president and cdc put forward on 15day guidance, social distancing, stay at home for work, et cetera, this is interesting, listening to the governor, Governor Cuomo of new york, who has been making pretty much the same argument the white house is starting to lay out, Public Health and Economic Health as larry kudlow put it today can work together. The governor of the new york was making a case little while ago, while it is important to look after the elderly, look after the vulnerable because of coronavirus that can also work in lockstep with reopening the economy for some other millions within that state and as the white house is starting to sort of hint at, millions across the country as well. Neil . Neil you drew an important distinction between what the governor is saying when push comes to shove, Public Health and protecting them. President , sometimes you have a situation where the cure is a lot worse than the impact of the coronavirus. So have you gotten any hints . I think this 15day up to your point, next tuesday or that the president will ease restrictions . The hints are coming from the president and larry kudlow themselves. When you look at neil, everything they have said over the last couple days, very publicly as well. The general consensus is, they will let this 15day window play out t was instituted last monday. So eight, nine days ago, however you want to calculate it. The end of the month was the best guidance i was given when it would end, 30th or 31st. The president and kudlow are saying, look, theyre looking at it, theyre thinking about it, as larry said there they can put forth the guidance. The question what happens after that at the statewide level. The guidance they put out first and foremost the states have listened to. Larry . Neil, rather. Neil that kind of a day. Youre a young man. Thats okay, blake burman at the white house. I should have said bill burman or Something Like that. Thank you, my friend. Corner of wall and broad we have selling across the board affecting virtually every s p 500 sector. We trade in the huge swings, if this were to hold would be the second largest point gain of market history. We had one little more than a week ago. That was the largest. Having said all of that, markets like idea of stimulus coming. Later on in the broadcast, some promising drugs on the horizon. Walmart is the only dow component not advancing here t has been advancing with one record high after another. It is doing a lot of right things analysts like, good place to shop for americans and good place to be for workers. Theyre sharing the loot for workers offering 300 million to half a billion dollars to workers in bonuss that is a pretty nice thank you. Jackie deangelis on the stock surge. What is going on here, jackie . Reporter good afternoon, to you, neil. They want to see Washington Pass this bill. That is definitely oil going into the machine to keep things moving along. Were having one of those days. Were seeing a nice rebound. There is confidence in this market. That is important given the volatility weve experienced over last 3 00 or four weeks, where the dow comb off the record highs. Traders are still telling me theyre tentative. Just because we have a good day here doesnt necessarily mean anything. We have to seal a couple things happen here. First of all optimism about the bill is not same thing as passing a bill. We need to wait for that to actually happen. To see how it flows into the economy. The president s tweets suggesting maybe in certain parts of country that we need to try to get people back to work. But there is two schools of thought on this you can do that, start to open things up again, number one, will consumers actually get out there to start to consume. Number two, if people are going out, theyre not following the proper social distancing will we see another spike that send us back into retweet. There is a still a lot of uncertainty out there and uncertainty is the name of the game on wall street. Right now everything appears like it is okay. Markets will be watching this. Traders are telling me there is a possibility to see more downside from here. It is one of these touchandgo kind of things right now. Neil jackie, thank you very, very much the other big news item today is the olympics are put off for another year, tokyo making it official. It was not a big shock when so many countries saying either you do it or well do it. Connell mcshane on all of that. Connell what are you hearing . Reporter it is interesting, neil, youre right it is not a big shock to anybody following this because the pressure had been building in recent days from likes of canada, australia, even the u. S. Olympic Committee Last night for the International Olympic committee and for the government of japan to postpone the games. That is exactly what we ended up hearing. Instead of having summer games in the summer of 2020, beginning the month of july, they will be postponed now to the summer of 2021. Instead. This was something that had been coming. Now we know it is official. Neil, i want to going discuss on headlines coming out last hour or so from the state of new york. Blake got into this a little bit but Governor Andrew Cuomo was much more dramatic in his tone addressing reporters a short time ago in albany than what weve herd from the governor in recent days this is something to watch play out over the course of really the next few hours, how state and local governments, particularly new york are interacting with their counterparts on the federal level. President trump and his task force. So the governor comes out and he says, neil, that the apex of this crisis on coronavirus is going to both be higher, meaning worse and also happen sooner than had been thought. The next 14 to 21 days are very important he says. The need for ventilators cannot be overstated. In fact Governor Cuomo pointing out that fema has promised him 400 ventilators. He says that is no good. He needs 30,000 ventilators as the Hospital System is on its way, at current pace is maintained to being overwhelmed. Neil, as i go back to you, last point, interesting to hear Governor Cuomo weigh in on this, this back and forth about when we reopen the economy as President Trump has talked about it, as blake said, in many ways the president and governor might be saying similar things but saying them much, much differently and Governor Cuomo said there should never be a choice between somebodys health and the economy. Americans will certainly choose health. That is everybodys number one priority. He did talk though, however, about what he described, neil as more refined approach. That is what he wants to see. Maybe where younger people start going back to work at some point. Whereas people in more vulnerable population are more protected. Sew understands the president s point that the current trajectory we are on from a economic standpoint may be unsustainable but he is looking at more refined way. The pressing issue is the Hospital System. The pressing issue according to Governor Cuomo is those ventilators. Neil all right. Stay with me if you can, connell. I want to bring back Jackie Deangelis and Keith Fitzgerald on the impact of all of this. Whether the president gets his swish to slowly get people back to work. We dont even know when that process would start. Many in the medical Community Say it is way too soon toe even consider this. The president has to be pragmatic and practical about it as does the governor. To Connells Point theyre still kind of speaking on the same page putting emphasis on different parts of that. Where do you think that would go, if for example, you start with letting younger people return to work first . Tell you what, neil, that is a very interesting question because i think the press, the medical community are missing the president es intent here. What he is saying we have to solve this, got to move through that. He like many people are already planning for the other side of this thing. They are trying to take him at his word, when what he is trying to do inspire hope and we will lead. They are very different propositions. Moving forward through this i think well do that. I think markets will make that decision. I dont see that as a huge problem laying out. Neil i wonder how it will all fly. Say you dont have governors on board, dozen or so plus who instituted stay at home orders, how jackie, they would respond if the president says you can loosen up little bit. They all have to be on the same page and who wins . If youre in new jersey and new york, you have the stay at home initiatives youre not going to bow to the president or, do you have to . Well it is tough. I was listening to Governor Cuomo address everybody earlier and being in new york and being in the epicenter of this, one of his concerns, i mean he talked about his own mother. He talked about peoples brothers, sisters, their loved ones being exposed to this, having a problem with it, being vulnerable populations that could potentially be affected. I think certain communities are more hardhit than others. They will have a tougher time, saying okay, lets get everything back to normal and send people out there because of the risk that is involved here. Governor cuomo has always been stressing the need for more supplies. He has been stressing the need for more hospital beds since day one. That is the tough spot that the individuals in charge here are going to be in when they communicate with the president about what to do. Might have to be different in terms of what part of the country youre in. Neil you know, connell, you cant shake this, it is a blunt way to look at it, only way i know how, that you have to then judge, is it worth tanking a multitrillion dollar economy and the millions of jobs that could go with it as this drags on, for x number of deaths . That is what it comes down to. How many deaths can you risk to live with, to risk the American Economy . That is what were talking about here. Connell its crazy. The conversation was fairly nuanced i thought from Governor Cuomo today, trying to tackle the question in some way, why i as i mentioned earlier, if you make it an either or choice then americans will obviously choose health. That is the number one priority. He doesnt say it doesnt necessarily have to be either or and the time frame matters f we get through this time when the Hospital System is being most challenged, then we can get to the point where there is a more refined approach. We always used to say, neil, words matter talking about political figures. I would add i think tone matters a lot. That we learned that over last few weeks. The president at beginning of this, he pointed out rightfully so, fairly, he closed off borders to china, that helped out and Health Experts agree with him that early action was necessary but when the president in his tone was dismissively of the seriousness of the virus in the early days i would argue that tone probably mattered. The same thing last night when the president is in overly simplistic fashion talking about just getting back to work, this will happen quote, very, very soon, things like that, that is tone is very different than more nuanced tone, youre talking about lets tackle the Health Problems, lets get ventilators now. Lets talk about getting a certain portion of the population back to work while we protect the more vulnerable, doing it over time. You might be saying essentially the same thing, but the tone in which youre saying it is much different. Reaction of the general public to the tone might be much different which is really important. Neil all right. Thank you, guys, very much here. Were following this very closely. Just something the president threw out there. He wants to start the debate. The debate has started. Dow is better than 1600 points. Walmart on a tear and a recordsetting run at that this on the notion well get a big ol stimulus package here. 2 1 2 trillion dollars worth. There is a lot of there should not be there. Theyre agreeing to it first. Questions later. Well have more after this. Announcer wash your hands. Avoid sick people. And touching your face. There are everyday actions to help prevent the spread of respiratory diseases. Visit cdc. Gov covid19. Brought to you by the National Association of broadcasters and this station. Of broadcasters when i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. [ one morwoo merking in cb[ laughing ]]yo. Woo play pop music no way dude, play rock music yeah woah no matter what music you like, stream it now on pandora with xfinity. And dont forget to catch trolls world tour. Lets party people one more time. Neil all right, welcome back, everybody, im neil cavuto. Were following a big market rally with the dow better than 1600 points. Very busy news day. Were waiting on stimulus. We got confirmation of big ol delay in the Tokyo Olympics put off one year. Well talk to apollo ohno about that. Big medal winner over two olympics. His view on this, how athletes have to reposition and restrategize because they dont automatically make the 2021 team when it comes down to it. An athlete on this, knows what it is like to put everything on the line planning for a couple big olympics. He had a couple ones, memorable ones at that well talk to him about that. Were talking about airlines kind of conceding the inevitable. They might shut themselves down for a while to save some bucks, really to address the fact so many of them are not flying that many customers to begin with. Grady trimble here to break it all down. Grady . Reporter neil, there is no final decision at the moment but the airlines are drafting plans for voluntary shutdown of Domestic Travel or government ordered shutdown. At ohare there are 900 cancellations across the country there are over 8,000 of them. Not as if people are traveling en masse. Some flights have passenger numbers in single digits. So the airlines scaled back themselves. The faa is dealing with coronavirus among air Traffic Controllers which forced cancellations of even more flights. So at this point, dave calhoun, the ceo of boeing says a shutdown is almost enavoidable. Theyre close to it already. Traffic is down over 70 . When you get to that stage, this is a decision that feels a little inevitable. Reporter of course, Industries Officials as well as Airline Workers and lawmakers are trying to hash out a deal as we speak. But one thing they all agree on politics aside, how important the Airline Industry is to the overall economy. The Airline Industry is a essential backbone of our economy, it is a essential network but also really important we keep everyone in place so once we have the virus under control, we can restart our economy again. Reporter and this type of shutdown would have wideranging implications, not just of the fact that people cant get on a plane and go on a trip if they wanted to, but passenger planes carry cargo and mail as well. That would affect that system too. Neil . Neil all right, grady, thank you very, very much. We always talk about the fact it always comes back to the virus itself, the coronavirus itself, are we making any promising leaps here that would at least get doctors attention or at least seen as a significant development. There are a lot of things going on here. One that stands out the two u. S. Labs they could soon handle up to 300,000 virus tests a week. That might jolt some people, that would get confirmation of the obvious we probably have a lot more coronavirus case in this country across the world but would we be know more quickly, able to treat more quickly. Lets get the read of all of this and other medical news, a family physician joins us. Doctor, first off on these discoveries that could at least allow for faster processing of cases and identification of cases, what do you make of that . Right. Neil, i hope youre talking about the new test that has been approved that may give us results within so many minutes, 45 minutes or Something Like that. If that is what youre referring to, i really love that idea. I think that could be a gamechanger, really how we approach coronavirus and tell you why and how. First of all it will allow access for many more people to become tested. Second this particular test in particular is a selfadministered test. People can administer the test themselves, take the sample on their own. That Means Health Care workers would not need to don all the personal protective equipment to administer the test to them and use up personal protective equipment that we know is in short supply already. They also would limit contact with Health Care Workers and hopefully reduce potential spread that way. So there are a number of benefits for this. Something i think is a really great idea. Im looking forward to see how this continues to roll out, how we best can use it. Neil im wondering with speed comes the realization of things, doctor, that close to 50,000 cases already recorded in the United States would dramatically rise simply because we would know of them a lot sooner, right . Right. Absolutely. No, i mean this is the thing, neil what we have to remember these cases are likely Walking Around anyway. The way that i have sort of been thinking for the last couple of months at least is that there are vast numbers of cases Walking Around that we have simply not identified because we havent tested them. So in many ways, not that this should change the way we feel about it, how were supposed to be behaving right now is social distance, stay in groups less than 10, stay six feet away from other people. Certain cities with high number of cases theyre even under more stringent sort of requirements. The idea were supposed to be doing these measures anyway. Im not saying a large number of people with a formal diagnosis would change things but what i am saying regardless whether they have it or not were supposed to be acting almost if they do. Neil that while i have you here, youre always so helpful dealing with my dumb questions. Theyre not dumb. P. Neil the president you were kind, he might reassess this stay at home call at least for some groups, maybe next week. We dont know, but how do you feel about that . Yeah. So that is a really great question. I was watching the press conference just like some other people. Neil, im a physician, and whether youre a physician or not so many of us feel that Peoples Health and wellbeing of utmost importance. I want people to live. I want people to be alive. One death is too much, too many. One severe illness is too many. For me, if that means that our sort of quarantine and shelter in place or isolation, whatever you want to call it, if that means we continue much longer, which by the way im expecting that were going to need, that is fine by me. I want us to be healthy. I want us to be alive. I want us to be safe. I want us to get through this i dont think we reached our peak. When it comes down to risk versus benefits, you know, if staying in place longer means that were going to say safer, that is where my vote lies. Neil all right. Duly noted. Well see what the president decides and what others decide out out of the administrative front next week. Doctor, always good having you. Thank you for being on the front lines there. Thank you. Neil dr. Caudill. You heard the news that the japanese already post importanted the 2020 olympics. Theyre going to be one year later, 2021. Imagine youre one of the athletes, youve been preparing for the olympic this is summer, now all of sudden its off. There is no guaranty you can necessarily reposition yourself for next year. So what is an athlete, what is a gifted, physical specimen to do . Youve been focused on that moment and only that moment. Now it is a year away. Well talk to apolo ohno about that, the eighttime olympic medalist will join us on fox business after this. 1 in 3 deaths is caused by cardiovascular disease. Millions of patients are treated with statinsbut up to 75 persistent cardiovascular risk still remains. Many have turned to fish oil supplements. 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Call now to purchase one tenth ounce Gold American eagles for the amazing price of only 159 each. And sometimes, you can find yourself heading in a new direction. But when youre with fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. Neil all major averages are enjoying pretty heavy advances. Charlie brady, wicked smart by any measure. If holds this would be second biggest point gains weve seen in market history following biggest point swings south in market history. That has been volatile as he pointed out, swings of three, four, five, 6 , theyre so common right now, up and down, it almost goes without saying, oh, yeah, theyre up 1000 plus points or down 1000 plus points. 10year treasury yield is finally edging a little bit higher this is the first time in four days, charlie remind me, weve seen it. Oil is on pace for the second day of gains. It has been a long, long Something Like that. Gold doing pretty nicely, seeing backtoback days of 60dollar advances. Were monitoring that. Monitoring the effect much the economy here. You heard a lot of people are sheltering inside, you are probably among them right now. More than half the country is. The show must go on, not broadway shows, because theyre not going on. Not restaurants, theyre not going on period. But home shows, people in Real Estate Agents want to show you stuff they have for sale, they cant get you to come to the home outright. Maybe they can get you there virtually. Deirdre bolton on that. Reporter that is exactly right, neil. Zillow will stop buying homes in all 24 markets where it operates. That obviously is in response to the Public Health orders related to the pandemic. Well show you a map. You will see california, illinois, louisiana, ohio, new york, nevada, if you are trying to sell a home in one of these states, your only choice is virtual showings. The governments in those states have mandate ad shutdown of nonessential businesses which real estate is considered one. I spoke with a few realtors, even in other states where there is not a lockdown, not surprisingly people dont want strangers visiting their homes. To your point, neil, virtual tours, thats it. That is the only hope at this moment you have selling your home. I spoke to somebody who has quite a few listings near princeton, new jersey. She said prior to the outbreak, she had 10 really good listings, four actually just pulled their own listings. She said she advised two not to put their homes on the market. Really the only homes where she is seeing any quote, unquote traffic are homes already vacant. If people are still in the homes, they just dont want strangers in there. We spoke with the chief economist at the National Association of realtors. Obviously has a great birdseye view on the industry. He said about 20 of the homes that were listed in america, so nationwide, are now being delisted. As for the bigger picture, here is what he told us. Only minor blip if the coronavirus situation lasts only for a few months. But if it extends or six months longer, that is total economic shutdown, the job losses will lead to more job losses that could be very detrimental for the economy and that will hurt the confidence about home buying. Reporter we spoke to him as well about but rates are so low, what if somebody does find the magic home on a virtual tour . Is it worth it . He said even the markets volatility has really made wouldbe buyers hesitate even if these prices are down 10 to 15 , in the best of cases, sometimes down as much as 20 or more. Tough times all around in real estate, neil. As you can imagine. Back to you. Neil to put it mildly, deirdre, thank you very much. I want to go to ray wong, Constellation Research ceo. Ray, first impact that youre seeing from the virus and, you know, housing area is just one pocket, retailer yet another pocket, all that is being told to be partly addressed is stimulus measures, is it enough . I think it will be more that is required. I think first part as everyone mentioned making sure people know they have a job to come to after, neil, the pandemic, after some of the major pieces around the crisis occurs. That is probably the first part. Well see it in other areas. We see it in i. T. Spending, slow down coming to a halt. People Enterprise Technology space, buying Enterprise Software, hardware, theyre slowing down a little bit. It is not major yet but if it goes on three to six months you will see changes in spending patterns. Neil im wondering if i am a savvy ceo of one much these tech titans, i know once things get back to normal, whenever that is, there will be a big demand building up. I have to have the piping, all of that to be ready for that. I could see a company like cisco benefits and planning accordingly, benefiting right now but what are the other company . Well, let me, other companies are doing well. But if youre looking at other areas, for example, if youre looking at Enterprise Software and like databases or for Enterprise Applications or for networking, talking about cybersecurity, i think there is a lot of emphasis to make sure budgets are still there. That you can come back. These are places where companies can scale. That is what companies are looking at. Neil all right. We watch it closely, ray. I apologize for constricted time. Always stay safe and say well. Meantime the mayor of jersey city, this guy got a lot of attention, and rightly so, for effort on behalf of older residents to be protected, having their own special time to shop, arent being tackled by young people grabbing last gallon of milk or last roll of toilet paper. It was not that bad. He took the initiative to address that a lot of people in his city are very happy. Mayor, good to have you. Thanks for coming. Thanks for having me, neil. Neil how are you holding up, your residents, whats the latest . I mean its tough. Were starting to do budgets now. Well need help from washington, tens of millions of dollars, modest payroll tax is destroyed. We not sure who will pay property taxes on time. Local businesses are struggling. We look forward to see what comes out of washington. Neil the president has been kicking around the possibility, it was even hinted at by Governor Cuomo in new york, mayor, of scaling back this stay at home talk. What do you think of that . Yeah. We would like to see more testing data first. New jersey could still ramp up the testing to understand how widespread it is. Whether impacting young people at rate they thought initially or subsequently. Once you have that, i think it is reasonable to think about what is the plan. An absolute shutdown indefinitely doesnt help anybody long term. I think you need more data before making a decision. Neil im wondering too, for your city, of course many of your residents work in manhattan, to say nothing of right around your neck of the woods, period, do you think this changes behavior permanently . Do you think it is so scarred, your constituents, that theyre not going to live their lives like they have . Yeah, look, there is definitely going to be a ptsd process that people are going to go through. Bars and nightclubs are definitely not going to come back anytime soon. Restaurants sooner than that. You know, it will take some time. We understand that that is why we really need help from the state and federal level. Every city probably feels the way i do on that front. Neil i think youre right about that. Mayor, thank you. Be well. Be safe. Neil, thanks. Mayor fulop. We have a rally going on our hands right now. We have news there are 46,000 total cases of coronavirus in United States but, but, relief on the way. Dramatic relief, in fact, try 2 1 2 trillion dollars for starters. Republicans and democrats appear to be on board and so clearly is wall street. And a take care of your employees company. Were a help you ride the ups and downs of the market company. And when its time to retire, were a weve been guiding you toward this all along company. Think of us as all these companies, and more. Principal. Retirement. Investments. Insurance. Thats where i feel normal. S an hour, having an annuity tells me my retirement is protected. Protected Lifetime Income from an annuity can help your Retirement Plan ride out turbulent times. Learn more at protectedincome. Org. Neil most of the european markets, not all of them have closed by now, but on average they were up about seven 1 2. This is kind of like what weve been doing on this side of the pond here. Again optimism there as here, that governments are coming to the rescue, whether central banks, already by and large happened pretty much across the globe. But now governments in all of these countries are opening up the spigot with tax cuts, relief, delays in payments, taxes all the rest, something a lot of things being considered here. Were still waiting for word on all of that. That will come out of washington soon, what will be a 2 1 2 trillion dollar stimulus measure were told is growing exponentially by the minute. There will be other followup packages to come. Leaving that aside, our Charlie Gasparino here, with companies that remained under considerable duress or at least with a pile of stuff they have to address, including assets that might be in dank. Softbank comes to mind. Charlie what have you got . Neil, people are looking at will be one company that will be Lehman Brothers or bear stearns of this market panic right now, today as you said is good day in the market. One of the companies you keep hearing is softbank for obvious reasons. It made moves yesterday, buying back stock. Cutting ties to some of companies, or funding of things. It is taking pretty severe liquidity measures to shore up its Balance Sheet as well. Ive been talking to people at softbank, the word inside of the company, being filtered to investors is pretty much optimistic. As you know, they have been taking these moves last couple days, even dealing with wework, maybe scaling back how much money giving to former ceo adam newman. The company does not believe it has to go back for a round two of this. They believe this, this liquidity issue that they have been dealing with in the last couple days will be sufficient to get it through the crisis. They say wework, what theyre dualing with newmans payout. The neumann business, regulatory investigations widened what was beyond initially thought of during the time the deal was crafted. Therefore they have an out. They can scale back some of the money he was getting. He was getting billion dollars after a stock buyback. That is where we are right now. If you talk to people that deal with softbank regularly, they will tell you it is radio silence from the bank. Theyre not getting a lot of guidance. I talked to people that deal with them a lot. In that sense there is some, when there is radio silence, neil, often a lot of people getting scared and uncertainty. I can tell you that the company, with theyre now out there doing telling people, telling analysts, they got the thing under control. Look, the market has generally agreed. They have, last couple days have been very good days for the stock. So, softbank, is something that we have to watch. It is a company that is under significant distress even before this panic hit, and, you know, were going to keep watching going forward. The reason why, this is a very Important Company in this sense. Softbank, particularly through its vary funds, vision fund and potential for starting another vision fund which will be very difficult in this environment, started and financed a lot of the unicorns and uber, some others. It was main driver of some Big Technology companies in the last five, four or five years. So if theyre in trouble, that part of the market could go away, but theyre saying they have taken moves to sort of stem the bleeding, that i see from there. Were pumping significant amount of fiscal stimulus in this. The direct opposite of what they did in 1929 obviously where they basically destimulated the economy. But there is a degree of shortcovering here. So this is not pure sentiment that weve hit a bottom. Back to you. Neil you and i covered the 1929 crash. What a nightmare. Thank you, Charlie Gasparino. Speak for yourself, old man. Neil were going to update you on decision out of japan to delay the olympics a year later. Imagine youre an athlete training for that. We will be talking to apolo ohno, threetime olympian, halloffamer, eight times olympic medalist. His thought how all of sudden have to postpone the last minute something you have been working your heinie off a good chunk of your life. Apollo after this. Invest with confidence. As a doctor, i agree with cdc guidance. I recommend topical pain relievers first. Like salonpas patch large. Its powerful, fdaapproved to relieve moderate pain, yet nonaddictive and gentle on the body. Salonpas. Its good medicine. Hisamitsu. These expect and way more. Internthats xfinity xfi. U get powerful wifi coverage that leaves no room behind with xfi pods. And now xfi advanced security is free with the xfi gateway, giving you an added layer of network protection, so every device thats connected is protected. Thats a 72 a year value. No one else offers this. Faster speed, coverage, and free advanced security at an unbeatable value with xfinity xfi. Can your internet do that . And now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Neil all right. As we round out the hour we are still getting word they are very, very close. We have been through this before but very, very close they say to a 2. 5 trillion stimulus package in the nations capitol that calls for everything from hiking Social Security checks by upwards of 200 a month to providing i think nancy pelosi called it Unemployment Benefits on steroids. We are following that. We are also following a warning out of floridas governor that new yorkers who want to come to flori florida, you might want to isolate yourself first. That is meant to sort of ease some of the new cases that have popped up in florida. I dont know how new yorkers will feel about that, seeing virtually the entire population of florida seems to be former new yorkers who escaped the high taxes and just like the nice weather. Message from the Florida Governor right now, just cool it for now. More after this. I like Liberty Mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Becwe stay focused ons me all my finwhat we do best. Lace, with netsuite by oracle, you get a full picture of your business, and its everything you need to grow all in one place. Schedule your free product tour right now at netsuite. Com boots. Our grandmothers did not have an equal right to vote. We do. Find their stories. Make them count. At ancestry. Neil all right. We are learning right now the markets are up because stimulus is on the way. Chuck schumer says the stimulus talks are the brink of success, it could happen sooner rather than later. Its a 2. 5 trillion package. We are told they are kicking around what will call for other things, delaying mortgage and car payments for folks who might be under considerable duress without any income coming in because they lost their jobs or at the very least will face the risk of that. Hillary vaughn following all these developments on capitol hill. Whats the latest . Reporter well, right now the White House Administration negotiating team is on capitol hill meeting with Majority Leader Mitch Mcconnell in his office. That includes secretary Steve Mnuchin, mark meadows and also who white house legislative director who simply made this gesture when asked if they are close to a deal. We do know the clock is ticking. Republicans on the Senate Floor Today have made clear that what stalled this process to begin with was the wish list that Speaker Pelosi came with, asking for a lot of things they say have nothing to do with coronavirus. We saw the speaker of the house release an encyclopedia of unrelated demands as though it were a coronavirus proposal someh somehow. Despite all that, we are very close. Reporter we are getting new details on what the democrats say some of the sticking points are. For corporations its all about transparency and accountability for that cash, including no stock buybacks. A senior Administration Official tells us there will be a threelegged stool of oversight for the 500 billion credit Fund Available for corporations. Those three legs as they stand right now are an Inspector General to oversee this, an Oversight Board and also, testimony from treasury secretary Steve Mnuchin on any transactions made from that fund. For airlines, a senior Administration Official tells fox they have three choices for add right now, as where it stands with the negotiations, either a loan, a grant or bankruptcy court. The terms of this agreement are still up in the air. We heard from Senate Minority leader Chuck Schumer today, who says right now, the deal has Unemployment Benefits on steroids for workers, which right now includes the government fully paying for four months, the paychecks for workers that are furloughed through their employers. I just finished a very productive meeting with secretary mnuchin, the white house Congressional Liaison and mark meadows, the president s acting chief of staff. Last night, i thought we were on the 5 yard line. Right now, were on the 2. As i also said last night, at this point, of the few outstanding issues, i dont see any that cant be overcome. Reporter we did catch Speaker Nancy Pelosi just by the elevator a few moments ago. She signaled that she would be open to accepting the Senate Version of this relief bill by unanimous consent, but added the caveat it really depends what is in the final bill as these negotiations are still very much in flux. I also asked her about her plan to implement a mission standard or some environmental protocols tied to this aid going to airlines and her only response to that was that the money is going to the airlines and the airlines are getting this money. Neil . Neil all right. Thank you very much, hillary vaughn. You might wonder what is the dramatic sense of urgency here, the sheer number of coronavirus cases. For example, we have been dissecting what new york Governor Cuomo had to say when he was talking about using the Javits Center in new york for a place of up to 2,000 or more hospital beds. The governor saying the numbers are astronomical, that new york has over 25,000 coronavirus cases and that the rate of new infections is doubling every three days. At that rate, in just a couple of weeks, we will be looking at hundreds of thousands of cases. That is just in new york. So this is really the markets way of responding and washingtons way of responding, i should say the market responding to washington responding with help on the way. All of this as we got word that indias Prime Minister has issued a lockdown for all 1. 3 billion of its people. It has the second most populated country on earth, china of course the first, but even china with the lockdown that it instituted, affected some half dozen cities comprising 60 million chinese. In the case of india, its all 1. 3 billion people. We have never seen that many in a lockdown and the lockdown is the proper frame of reference, because the Prime Minister is going to prevent travel into and out of india, and into and out of regions in india. So that is what they call fairly sweeping. It could explain some of the measures countries are taking privately and publicly to address this and try to help out early on. Ashley webster on what ford is doing right now in that regard with some other big names in this country. Ashley yes, indeed. Hey, neil. They were hoping to open, by the way, their north american plants ford, on march 30th. They said thats not going to happen until further notice. As you say, the car company is now hoping to produce ventilators and respirators to help in the fight against the coronavirus. They are actually teaming up with Ge Health Care and 3m to get the job done. The head guy at ford, bill ford jr. , calling it project apollo, saying its on a fast track. Take a listen. We are going like hell. Yes, we are. We are working with ge on ventilators, working with 3m on air purifying respirators. We are doing our own face shields. We are also 3d printing the n95 masks. We got four different work streams going. We are going as fast as we can. Ashley what are they doing . Ford working with 3m to ramp up production of the respirators plus perhaps come up with their own design that ford could build at one of its plants. It may also incorporate in that design interestingly fans you would find in a ford f150 pickup. Shows you some of the ideas being put out there. The car maker also working with Ge Health Care, expanding the production of ges ventilator design, also making another version of itself if it can and by the way, ford also says its going to create and test full face transparent shields for medical workers and first responders. If all goes well, they can get their 3d machines cranking, ford hopes to be putting out about 100,000 shields a week. Thats pretty impressive. By the way, its called project apollo because thats in reference to the 1970 apollo 13 Lunar Landing that was aborted after an oxygen tank failed and the astronauts had to improvise a fix in order to get back to earth. Kind of thats the reference there. Ford, 3m and ge health pitching in to help. Neil thats the kind of nice stuff you want to hear. Thank you very much, Ashley Webster on all of that. Keith fitzgerald and Connell Mcshane with us here. This is the kind of stuff you want to see getting back to business, right . All right. I apologize. We are having our is dotted and crossed here. Stepping back from this, this other development, a very big story today, that is the olympics in tokyo have been put off a year. Imagine all those athletes who are getting ready for this big moment with no guarantee they will be able to make the big moment a year from now. Apollo ohno joins us now, the eighttime olympic medalist, threetime olympian, hall of famer, still all of 37 years old. Ridiculous how young this guy still is after all hes done. Apollo, very good to have you. Thank you for taking the time. Thank you. Thank you for having me. Hope you guys are staying safe. Neil how what is your reaction when you heard this and i know you were the summer olympics are off now, athletes have been preparing much as you did for several olympics and now they wonder whether they will have a chance. What do you tell them . Its a challenging time. I have spoken to many of the athletes. I know that many have dedicated their lives towards these races that last nine, ten, sometimes 15 seconds long. I think, though, at the end of the day, we all take a step back and we create unification and solidarity. Thats the only way we can defeat this virus and i think all of the americans who have been on the front lines dedicating themselves are the real heroes. So every athlete who is out there understands the complexities and the sensitivities around making decisions like this, and some of them are devastated. Some of them want to be able to compete right now, right here, but its just not feasible. I think the risk to reward ratio is just not there. At the end of the day, we have to care about each other and each others human lives. Its a difficult decision by the ioc. I know the athletes are at least happy now theres a decision here so they can recalibrate, they can reengage, they can spend time at home with their loved ones and families and they dont have to worry about setting up these strange devices in their house to work out and keep training and instead, they can focus on the health and wellness and complete social distancing thats occurring across the nation. Neil im wondering, of course, you are one of the most celebrated athletes in history, so you obviously have the focus, the drive and the skill to just be on that and now these athletes who have been trying to do the same, its disrupted. For many, it might never come back. Im wondering how all the other nations notwithstanding, how they get through that. A lot of them are probably pretty depressed right now. I think there are some that are in a very challenging position, especially those who are veterans in their age group who maybe are wondering if their legs will last another year, so from a sportsspecific perspective, it is a challenging position. Look, at the end of the day when athletes go and prepare and step to that start line, the game is between the ears and thats really whats happening with these athletes right now. They are focusing on how to remain calm, how do i recenter, how do i mitigate all the chaos and noise thats coming in from an information perspective and just hone in on the things that im trying to do, making sure my family and friends are safe, making sure that im doing the things necessary and im doing my part in the United States right now to limit the risk of spreading this disease, and this virus, and then how do i make sure that i also stay 100 focused on the task at hand. Look, athletes know all about hyperfocus but they also understand and we are still human beings at the end of the day, their heart understands that this is the impetus right now. Theres many businesses, thousands and millions of americans across the nation who are at risk at losing and being in default in some capacity. Everyone is working together. The only way we are going to defeat this thing is if we create unification, we create solidarity and we come together as a nation. It doesnt matter if you are an olympic athlete, if you are someone who is stocking the shelves. We all have to work together. The faster we do that, which i think we have done a good job so far, this is really going to be able to succeed and we can really get past this. Neil you know, i just wonder to your point, the olympics will return, people will be out of their homes, this whole thing thats been affecting so many across the world will ease, but im wondering given whats happened to sports, not only with the olympics getting pushed back but basketball, baseball, football potentially, to say nothing of soccer across europe and latin america, i just wonder whether crowds will return, whether they will be nervous to return in large numbers to watch athletes like you or they will be afraid to. What do you think . I think its a great question. I think that everyone is asking ourselves those same questions right now. How will sports be experienced in the future and i have no doubt that the worlds greatest minds are figuring out ways to have these augmented reality, Virtual Reality livestreaming events with headsets to limit that density. At the end of the day, i think we have to recognize that we all love sports in some capacity and maybe we dont follow sports innately like others but look to sports as inspiration, look to Olympic Games as inspiration to show what the human being is possible of achieving. I dont think thats going away any time soon. The symbolism of what that stands for and what that represents is still very strong. The way that it may be experienced could be drastically different in the future. And maybe thats even better. Imagine instead of selling 50 front row seats to a fight or to you know, one of the biggest events, the Olympic Games, youve got ten Million People now who are front row, who are behind usain bolt, behind Michael Phelps or behind me with helmet, headsets, et cetera. I think the future is bright for the way we experience sports in the future. Right now its a very difficult time. Neil very uplifting words. If you dont mind my asking a personal question, though, which in your incredible career, eight olympic medals, mattered . Those medals, that achievement, that notoriety, that march into history, or winning dancing with the stars . Im thinking dancing with the stars. Look, dancing with the stars was an amazing experience and definitely opened me up to a world i didnt even know existed. But i would be lying if i didnt say that i was humbled and honored and grateful to be able to stand on the podium and represent the u. S. In those Olympic Games and every single medal was important. Every single team was important. It wasnt for if it wasnt for my father, all of my friends and family, all of my teammates and coaches, it took a collective effort. The first Olympic Games i ever walked into in 2002 was post9 11. Only a few months after those devastating attacks. Feeling the camaraderie, feeling the unification, feeling that solidarity that existed between not only the athletes but the country, was very special. I was only 19 years old at the time and i remember writing about this in my journal and just thinking about how powerful we can be when we do come together, and i think its moments like these that not only test us but they show how strong we can be, how strong the human condition is and how we will get past this and how we will become strong in the future. Dancing with the stars absolute blast. Didnt really know what to expect but for me, the Olympic Games is always close to my heart. Neil all right. Thank you very much for taking the time and reminding us of the big stuff thats important and sometimes a lot of this little stuff that is not. You are an inspiration, young man. I appreciate it. Thank you, guys. Stay safe. Thank you so much. Neil apolo ohno. We have a lot more coming up here. Wisdom beyond his years. The dow is up 1589 points. We have a bill that is apparently very imminent here. We just know its going to be big. Wall street is okay with a big bill. They have a lot of these guys used to have problems with government spending. Now they say the hell with it, lets just make some money and move on. After this. 300 miles an hour, thats where i feel normal. Having an annuity tells me my retirement is protected. Protected Lifetime Income from an annuity can help your Retirement Plan ride out turbulent times. Learn more at protectedincome. Org. Edward jones is itswell aware of that. Et. Which is why were ready to listen. And ready to help you find opportunity. So. Lets talk. Edward jones. Its time for investing to feel individual. Neil all right. This market rally continues now. Dow better than 1500 points here. A lot of us waiting for the stimulus thats on way, 2. 5 trillion worth. Not a moment too soon for folks who need it, loefgeaving aside restaurants, think of the stores. Even if people get stimulus checks, where are they going to spend them . Matt shay with us, National Retail federation ceo. Thats the rub, right . Your industry might not be the immediate beneficiary. What do you think of that . Well, first of all, we are very very encouraged that we are close to an agreement. Remember that these are businesses that on january 1st, february 1st, were solvent and who, through no fault of their own, are now facing these dire conditions in which they are having to make really difficult decisions about employees and payroll. We would like to see them keep as many of those employees attached to the work force as possible. So we are encouraged about the prospects for a solution and we want to take care of all the businesses, small, medium and large, recognizing that some are on the front lines of helping to solve this problem now but others are hurting and need relief immediately. Neil now, for a lot of the jobless protections, benefits would kick in sooner, last longer. How do you feel about that . Well, i think we all share the same goal. This is the ultimate moment as an economy and as a society that we are either going to hang together or we are going to hang separately. You cant have the government picking winners and losers in a market economy. We need to help all of these businesses and remember the Retail Industry employs more than 50 Million People in this work force, nearly 20 of our nations gdp, and they come in a variety of sizes and shapes, all the way from small single unit stores to those large multinational companies, but they are all facing in many cases the same challenges. So while we know that some of these are really the economic first responders, the grocery stores, pharmacies, wholesale clubs, the home goods companies, all of those are trying to help their communities. At the same time there are many, many others who have displaced workers or will shortly, and we are trying to help solve that problem. Weve got on our website, narf. Com, more than 50 companies that are trying to help those distressed and displaced workers and put that work force where we need it. So we are out of equilibrium now and as soon as we get this relief package we can get america back to work and start moving forward. Neil that is the hope. We will see what happens. Thank you very, very much. Just to let you know before we take a quick break, the United Kingdom is asking for upwards of 250,000 volunteers to help cope with coronavirus outbreak, a day after Boris Johnson essentially called for quasilockdown, by that everyones sort of stayathome measure that is in conne effect in this country for more than half of americans, and for 1. 3 billion indians. Stay home, stay sheltered, dont even think of going out, its a trend that continues. In britain they are saying we need help with enforcing it and helping folks out. Help is on the way. After this. Yes im stuck in the middle with you, no one likes to feel stuck, boxed in, or held back. Especially by Something Like your cloud. Its a problem. But the ibm cloud is different. Its the most open and secure public cloud for business. It can manage all your apps and data from anywhere. So it can help take on anything, from rebooking flights, on the fly to restocking shelves on demand. Without getting in your way. And platelet donations and asks healthy donors to schedule an appointment to give. During this corona virus outbreak, patients are counting on lifesaving transfusions. Visit redcrossblood. Org patients are counting on lifesaving transfusions. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com neil all right. 26 minutes after the hour, we got the dow better than 1500 points, optimism about a stimulus deal that could be in sight. We do know wall street is liking the distinct possibility it will happen. Meanwhile, we are still looking at kind of fractious relations with the chinese, particularly when we come to discover so many of the drugs and medical supplies we need come from china, better than 70 . Now trying to correct that, address that, deal with that, easier said than done. Edward lawrence on all of that. Hey, edward. Reporter hey, neil. Lets start with the stimulus package first. Nancy pelosi saying she could see a deal this afternoon, in fact, the administrations negotiating team when going into Mitch Mcconnells office about 30 minutes ago giving a this close to a deal. The market is liking that but also the fact the president says he wants to open businesses within weeks, not months. White house economic adviser larry kudlow saying we must make sure that businesses stay alive for that. Listen. Nobody really, nobody expected this kind of virus spreading and going into every nook and cranny of the economy. This is something nobody was able to foresee. So we will never be quite the same but theres no reason why essential industries cant go back to work rapidly, if we get a flattening of the curve. Reporter the Senate Stimulus bill gives direct payments to the american people, like cash to americans immediately, the ability to withdraw also from retirement accounts without penalty and a suspension of the payroll tax. It helps Small Businesses with loan guarantees and those loans could be made grants if businesses use it to pay employees or keep from closing down. Theres a term for when you separate employees from employers. Its called unemployment. Thats what we are trying to avoid. Reporter this crisis has also highlighted a vulnerability in the medical system in the United States, specifically the prescription drugs and the shortages of those, because they are sourced or made in china. Now, this stimulus bill would provide within 60 days a report given to the white house that says how we can bring manufacturing back to the United States. Already some bills being drafted. Representative chip roy from texas is trying to put back in the tax incentives that were removed for manufacturing prescription drugs here in the United States, also specifically puerto rico. Senator josh hawley sending a letter to the fda asking them what they are doing to make sure these shortages dont continue in another crisis that could happen down the road. Back to you. Neil edward, thank you very, very much. Back to the stimulus issue, what karl rove thinks of it right now. It looks like they are very, very close to a deal but its going to be an eyepoppingly expensive one. No one is seemingly looking at those numbers. You are joined by Keith Fitzgerald and also Connell Mcshane. I want to focus on you in the beginning here, your sense of where this is going, what comes next. Well, i would say two things. One is its been delayed ironically enough by what appears to be outright hostility among congressional Democratic Leaders towards corporations. Anything that has to do with sending money to businesses to keep their workers employed, they hate, whereas sending money to the workers so they are sustain themselves seems to be okay. The other thing is i dont know what happened to nancy pelosi, but she drafted her own bill. She likes being the leader of the Democratic Party which is a commentary on how weak joe biden is even as the presumptive nominee but she loaded it up with such essential items to dealing with the coronavirus as required early voting periods and same day Voter Registration and forbidding the use of Social Security numbers in Voter Registration projects as a security check, paying Union Officials who do work on government time, full offset of airline co2 emissions boy ty th year 2025, a record of every single Airlines Flight Greenhouse Gas numbers, collective Bargaining Power for unions, Retirement Plans for community newspapers, Union Membership on airline boards. Last year, nancy pelosi was heralded at the Kennedy Center honors, introduced there like she was the head of state and cheered by the crowd in a standing ovation so there was 35 million in her draft of the stimulus bill for the Kennedy Center and 100 million for National Public radio and on and on and on. We are dealing with the coronavirus and peoples livelihoods and she drafted a piece of legislation that seems to be rejected very quickly in the last 24 hours. It is a laundry list of just bizarre items. Its a sign of whats happening among the Democratic Leadership in dealing with the crisis. Neil want to get your quick take on the president who is now looked at maybe dialing back some of these stayathome measures and other things when this 15day period expires at the end of the month. What do you make of that . Well, i think hes torn because on the one hand, hes got the Health Experts saying we got to flatten the curve and people will die if we dont, and our Hospital System will be overwhelmed, and on the other hand, hes dealing with what happens if the economy is just completely shut down and comes to a roaring halt with a dramatic decline in gdp. And what kind of Health Problems may come from that. So its a difficult tradeoff. My sense is we are going to be stuck where we are for at least another week but my sense is hes going to have to Pay Attention to the Health Experts and sort of have a moderate approach to pull us out of this. But we do have to get to some point where we say we bent the curve enough, the hospitals can handle what theyve got and some parts of the country, if not all the parts of the country, ought to be able to return to what could be relatively close to normal business activity. I think this is not only an economic decision but i think hes also looking at a political decision. I think it ought to be looked at more as an economic decision. I dont think people are going to blame him for either the virus or the recession that it causes. They are going to judge him on how he dealt with the crisis itself and then what does he have in the way of an agenda of ideas to strengthen our economy as we start to come out. Neil keith, the big worry there is it boomeranges on you, all of a sudden you got people back too soon, right . Right. Exactly. Well, of course thats a karl makes a very good point. You have to move through this and thats the important consideration. I think thats what the president is trying to get to and i think Speaker Pelosis list of demands was ludicrous in the face of what is obviously an overwhelming economic, psychological and Financial Impact on millions of americans. Neil connell, the markets are just wanting this thing done. They are not even aware of the particulars that could still be in there, how much nancy pelosi stuck in there is anyones guess because we dont know. They just want it done. Any measure is better than none. Is that kind of the thinking now . I think thats the thinking to some extent. We have been saying this the last few days, just regular people on socalled main street as well because thats where this problem is most acute. Businesses had to literally make decisions about hiring and firing last week and continue to have to make those decisions. Some people are trying to put it off as long as they can, seeing what washington will come up with. So yeah, as you always say, the devils in the details but at this point, we might not have time to dig into those details. Its almost like if youre an investor, tell me what it is and i will make a decision on that but again, more importantly, i think if you are a small or medium size business owner, tell me what im dealing with, Unemployment Benefits, for example, if someone is able to get those longer than i thought and its at their full salary, maybe that person is furloughed and i promise to hire them back. If its structured differently so i can take out a loan but that loan will be forgiven if i use it just for payroll, maybe i will do that and keep people on the payroll. But if you cant make the decision, if you are stuck in place kind of running in place, waiting for washington, then thats the worst case scenario. So you can always deal with it if n if you know what it is. Neil karl, the president apparently not on the same page, i think this has been sort of dramatized a little bit in the press but it is what it is with dr. Fauci. Im wondering if thats the kind of thing, if that hurts him, if that proves to be the case, that he really doesnt get along with the guy or like the guy secondguessing him. Yeah, look, i think the president has been helped by the fact that he has been seen surrounded by dr. Fauci, dr. Birx, the surgeon general, the hhs secretary, director of the center for medicaid and medicare. Its good that these people who are reassuring have been seen around him. I think it will be helpful going forward. But look, this is having been inside the white house during a couple of crisis moments, there are lots of personalities that come into those rooms and lots of personalities that sometimes tend to clash. Big leaders tend to sort of put those things aside and push through the process. We do have some really extreme situations facing us. Yesterday i talked to two friends of mine. One started a Printing Company 30 years ago, literally out of his savings account. He has about 50 employees, most of them latino and africanamerican and hes told them im going to, this is before the bill passed, before he even knew what was in the bill, go home, im going to pay you 80 of what you make and im going to keep doing it as long as i possibly can. I talked to another guy who has the largest Highway Construction Company in texas, 2400 people, and hes deeply concerned about how can he make certain that he keeps paying his employees. First he wants the business to be considered essential which highway construction is an essential way to keep moving forward but also, he wants to be able to pay them. This bill thats sitting before congress, i talked about it, some of the provisions in it, section 1105 and 1102, that would take care of their problem for at least eight weeks and save these two businesses. We are sitting there having it held up, im sure it was held up only briefly because the list is so laughable that nobody could present it with a straight face and argue that these were measures that were critical to fighting the coronavirus. Early voting and, you know, cant use a Social Security number to detect voter fraud. It was so ludicrous that they can push through it. Get it done. American business and more importantly, American Workers and American Economy need to know that this is getting done. Neil all right. We will see what they finally come up with when they do get it done. Thank you, guys. In the meantime, all of you, right now we leave you with the dow up about 1630 points. Its trying to claw its way back from what had been the fastest freefall off alltime highs, better than 35 plummet, the likes of which and the speed of which we have never seen ever in american history. Not through the depression, not through the 87 crash, not through the financial meltdown on 9 11, never saw anything like it. Except now. Announcer wash your hands. Avoid sick people. And touching your face. There are everyday actions to help prevent the spread of respiratory diseases. Visit cdc. Gov covid19. Brought to you by the National Association of broadcasters and this station. Of broadcasters their medicare options. Ere people go to learn about before theyre on medicare. Come on in. Youre turning 65 soon . Yep. And youre retiring at 67 . Thats the plan well, youve come to the right place. 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M. , we became 100 takeout. So our entire Business Model had changed. We do need the support. We need support from the fda. Obviously they have to help the american businesses so they really need to get the work done, sharpen their pencil and provide something thats fair. Were not looking for free. Were looking for fair. Thats what they need to do. But aside from that, theres a greater decision coming down the pipeline in a couple of weeks, and thats for our countrys leaders. I feel that they need to stand together, not divided, and when this virus is contained, they have a big decision on their hands and someone needs to step up and put america back to work again, when the time is right. Neil when do you think the time would be right . The president has hinted as you know that it might be a lot sooner than a lot of medical types put it and that he is seriously considering, we are told, we are told, sort of a rollback beginning with young people first. I dont know whether that would apply to restaurants and that only young people go to them and the hospitality locations and all that, but what do you make of that . I think we have to listen to the doctors and professionals. I think thats 100 . I think us americans need to contain ourselves and not go out and party and be very safe, as safe as they can. I do know the work force is struggling. We all know that. Especially the Hospitality Industry has taken a massive hit. My company has went from 100 employees operating every day, continuing the business. We have about nine on staff right now. As a business owner, that hurts. I mean, we are trying to survive. Everybody is trying to survive. I dont think it would be wise to push that too soon but once we know we have some control, and the time is right, there cant be a delay. We have to go back to work. America needs to work. We need to thrive. We need to get through this. We are going to need some help. Neil we will watch closely, dan. Hang in there. Hopefully we are rounding the bend here. Its hard to say, to your point. Dan bavaro go ahead. I would like to say one more thing, if you dont mind. Hospitality has taken a huge hit. My staff has taken a hit. I know theres a lot of Business Owners out there that feel the same way i do. Right now, im fielding calls for my team that have worked hard to support our company and they cant put food on the table. They cant feed their families. So what else could we do besides Curbside Pickup and hope for Delivery Business to sustain . Our company put together an unemployment fund, 100 of the money donated will be divided up evenly amongst our staff so they can eat and they can survive. So i ask all of you, that have the financial resources, to help. Go to bavaros pizza. Com, click the go fund me link and do what you can. There are people out there that are suffering. Its hard to field those calls right now. I appreciate you having me on today. Neil you hang in there. Its duly noted. Its up on our site. Hang in there. My best to your folks. Be well. Thank you. Same to you. Neil all right. We are following that and of course, this is the type of thing they are trying to address in washington with the stimulus measure, that maybe providing more credit line to individuals, it will make a difference. It will make a tiny dent but it wont make the entire difference. Its meant to be a start, a means by which these people who are without anything have something but is that enough . After this. If you have postmenopausal osteoporosis and a high risk for fracture, now might not be the best time to ask yourself, are my bones strong . life is full of make or break moments. Thats why its so important to help reduce your risk of fracture with prolia®. Only prolia® is proven to help strengthen and protect bones from fracture with 1 shot every 6 months. Do not take prolia® if you have low blood calcium, are pregnant, are allergic to it, or take xgeva. Serious allergic reactions like low blood pressure, trouble breathing, throat tightness, face, lip or tongue swelling, rash, itching or hives have happened. Tell your doctor about dental problems, as severe jaw bone problems may happen. Or new or unusual pain in your hip, groin or thigh, as unusual thigh bone fractures have occurred. Speak to your doctor before stopping, skipping or delaying prolia®, as spine and other bone fractures have occurred. Prolia® can cause serious side effects, like low blood calcium, serious infections, which could need hospitalization, skin problems, and severe bone, joint, or muscle pain. Are you ready . Ask your doctor how prolia® can help strengthen your bones. Neil welcome back, everybody. Lot of folks are looking at beneficiaries in this environment because people still need goods to get to their homes in which they are sheltered. Doesnt jeff flock know it, log at how the truck industry is taking advantage of that, doing quite well because of that, hey, sir. Reporter hello, neil. Good to see you. Yeah, take a look. I tell you, you look at the streets of new york or chicago or any big city, not much going on. Well, all you need to do is go out to the hinterlands to a truck stop and you will see tremendous activity. This is what they call the pilot flying j truck stop here at the confluence of interstates 94 and 90, Just Outside Chicago in indiana, and take a look. All these trucks that are lined up at the pumps out here, i mean, this is crazy. Jb hunt, one of the biggest trucking companies, just said we are going to give their workers who have been working real hard 500 bonus, it will be payable this week. You know, trucking is always important but now its literally i think, you know, the blood thats running through the veins of the American Economy. Without these guys, where would we be . Trucking is what, 71 i think of all the freight that moves . By the way, theres a trucker right now heading in. They are also providing showers, as they normally do. A lot of places have shut down. Thats a guy headed in with his bag to get a shower. Truckers need support. They cant stay in their house. This is their house. They need to be in a place where they can get a shower, get some food and im going the wrong way here so i got to be careful. At any rate, one of the problems that they have faced is state rest areas have been shut down so it is on folks like here, pilot flying j, maybe you see it, to stay open. Theyve got 780 locations, truck stops, nationwide. They are all open and providing both food and a place to shower and get whatever supplies. In fact, they Just Announced on the speaker here that somebodys shower is ready. This is a big spot for trucks. As i said, its a confluence of two major roads and as you can see, theres even trucks carrying trucks here. Look at this one. See that . Trucking, maybe never more important to the u. S. Economy right now as it keeps us going. Neil . Neil to put it mildly. Thank you very, very much, jeff flock in the middle of all of that. Right now, up 1455 points. Gold, of course, continues to assure its luster here. Interest rates backing up a tad on this idea at least in the bond market that we will see a little economic activity, long overdue. Many investors, i think Many Americans will say. After this. Promise and new beginnings, challenges and opportunities. At Ameriprise Financial we cant predict what tomorrow will bring. But our comprehensive approach to Financial Planning can help make sure youre prepared for whats expected and even whats not. And that kind of Financial Confidence can help you. Tv sports announcer oh not another commercial al. When you bundle your home, auto and Life Insurance with allstate you could save 25 . The more you bundle the more you can save. What . Bundle and save. Click or call for a quote today. Neil big tech to the rescue of the coronavirus. Be careful what you wish for. Susan li on that. Susan neil, the u. S. Economy may be shrinking because of coronavirus and big tech might emerge bigger than ever. 80 million across the u. S. Are in lockdown or quarantine. That is leading to behavioral, Consumer Behavioral shift, and the shift might last after the pandemic hopefully is is contained. The big winners are zoom, amazon, netflix and apple. Zoom is Congress Video of choice. We seen a lot of remote work taking place. A lot of people told not to go to work. This remote work might continue after the coronavirus. The another winner is amazon. They announced they are hiring 100,000 workers. Theyre not being able to keep up to demand on line. Huge surge of online orders. They need people to fulfill and deliver those orders. Netflix, at t said it was record weekend for netflix traffic. A lot of people are staying home, being quarantined. They are bingewatching netflix. We heard european officials saying netflix, throttle back the video quality so it doesnt hurt the broadband infrastructure. Netflix is reducing quality getting down to 25 . Apple has been asked to do the same thing. Big surge for services, including apple music and apple tv. Apple has seen an uptick of 18 on share of the iphone apps that they sell on the App Store First 10 weeks of this year. With this coronavirus pandemic there is a big switch to digital services. Of course Consumer Behavior and watching things online instead. But you know, it hasnt been a great year for all the big techs. Collectively they have lost a trillion dollars so far. Neil . Neil all right. Susan, thank you very, very much. Susan li monitoring all of that. Were monitor developments in washington where theyre hammering together something on the stimulus measure. The devil is in the details. Theyre stuffing it with a lot of goodies i dont know how much is directly helping those in the line of fire with the virus or economically in the line of fire because of the virus. Theyre throwing anything and everything they can. No one is arguing very much. Whether that is a good thing or bad thing, wall street likes it. Even marked up excessive deal beats no deal i guess. Cheryl casone is next. Cheryl were waiting to see if we cant get this thing through and help can get out to americans. They are really suffering neil. Neil absolutely. Cheryl thank you so much, sir. Im Cheryl Casone in for Charles Payne today. This is making money. Breaking now, what a difference one day makes we have learned over the last two weeks, folks. Stock sharply higher. At one point the dow was up over 1hundred points. Hope is building that congress, neil and i were talking about, could pass the stimulus package. Could happen at any moment. Our eyes are on the senate rht