Money jackie stocks are in the green as 373 million americans filed for jobless claims in the last week. Oil prices, unexpected surge in chinese exports boosting hopes that global economies are also on a path to recovery from the Coronavirus Crisis but how will wall street react when tomorrows jobs report comes out . Joining me now former dallas fed advisor Danielle Dimartino booth, bny mellon chief investment strategist alicia levine. Lets start with you. Well talk about the numbers tomorrow. The positive thing in the weekly claims, weve seen five weeks in a row where the numbers are going down but investors like that. When they get hit with the unemployment report even though theyre expecting it and see doubledigit unemployment how do you think the market will react . Look i think the market is expecting somewhere between 17 and 20 unemployment to print tomorrow. This is a little bit of a backwards look. The data stopped three weeks ago. Were reading it out on may 8th, not the first friday of the month. So were three weeks behind the data. What you mentioned before unemployment claims have been going down. That is the a sign that the ppp is working because more workers are being retained as part of Small Businesses. So it is a little bit pushpull. It lists a net number. So you wont see any jobs created through that. You may not see the full number of the million that have already applied for unemployment 30 million. Jackie do you think the trend is showing an accurate picture or if we see for example, states reopening and folks not following social distancing guidelines and we see cases start to rise again we could have more problems down the pike . You know we forget that in the state, in the city of new york, excuse me, there was just a 20day window you went from 200 to 50,000 cases. So these things can certainly happen very quickly but they happen with a lag as well. What ive been trying to pay closer attention is the notices coming out of individual states because we dont have mass layoff numbers anymore but we do have larger, higherincome paying companies saying like airbnb, yesterday, well lay off 900 people, 25 of our workforce and thats a little bit troubling to me because we dont need to just reopen the economy. We need to have the end demand there so we dont have a second wave of layoffs that are higher up the income chain in addition to what weve already seen with this first massive wave, that is directly related to the coronavirus. Jackie you see Neiman Marcus filing for bankruptcy. Exactly. Jackie uber also said it was laying off 14 of its workforce and you worry that reopening is certainly wonderful and it appears to be the right thing to do right now but it could just take longer, alicia, than most folks are expecting. Absolutely. I couldnt agree more with the recent comments. You know the truth is we really dont know how many of these small and medium size businesses actually have a business on the other side of this and whether demand has simply evaporated for certain kinds of consumer behavior, whether restaurants, socializing, or going to large studios or going to the movies. That really remains to be seen. The other thing i want to point out the way the Unemployment Benefits are stuck tured half the recipients are earning more on unemployment than they were at their job. So i think the data will be distorted and we wont see a more accurate read until july when the benefit run out. Then well really see where that shakes out. Jackie it is hard to get people back to work when theyre making more staying at home. But, danielle, i watch this market really carefully and you see the dow trading right now at 24,000 and we have the s p with gains, the nasdaq turning positive for the year and you think to yourself, you know, is this really on optimism about reopening because we still have a lot of problems here or is this really about low Interest Rates, the fed, stimulus and help coming out of washington . Well i think a lot of this is based on hopeium if you will. The every time the market has a slight little setback you magically have a press release from the Federal Reserve pop up, we had that a few days ago, we havent just promised to buy junk bonds, early may well get in there to start buying them. Thats when you saw Risk Appetite come roaring back because investors were reminded, here is your friendly reminded, if anything goes wrong the fed will come in to make sure the stock market goes up but as you mentioned Neiman Marcus filed today. Fitch ratings put out a report it expects loan defaults to set a record in the month of april. Going into may. There is question of whether liquidity will be able to resolve insolvency issues and i think that the nasdaq has made up its mind but the bond market and the broader indices the jury is still out there, jackie. Jackie ladies, great to see you, thank you so much for your insights, danielle and alicia. Right now President Trump is sitting down with Texas Governor greg abbott at the white house. I want to go straight to blake burman. He has got more on that. Reporter jackie, good to see you. This is the fifth time in the last few weeks that a governor will make their way to the oval office, sit down with President Trump and talk about whats happening with their state. Right about now it is the turn for the next sass governor greg abbott. When you look at texas, one of those states in which the coronavirus cases are not decreasing but they have one of the more forward leaning reopening plans. Theyre in the middle of another big rollout. Here is what the Texas Governor put forth in his state over next couple days or so right now, stores, malls, restaurants, movie theaters are open though at 25 capacity. Tomorrow, hair, nail and tanning salons will be allowed to operate in the same manner as well. Abbott said next week, offices, gym, nonessential manufacturers will be able to do the same. Well likely get the president s reaction to that blueprint along with comments, jackie, potentially about the president s own health. Here is why, the white house confirmed today that one of the president s valets tested positive for covid19. The white house is saying today that both the president and the Vice President remain in, quote, unquote, great health. I will let the president make those announcements or the director of operations but obviously the president is very healthy and is tested routinely. People see him, harris, every single day. Reporter here is how it works, jackie. There is a rotating group of six valets that is around the president. They come in and out. Fox is told this valet fell sick earlier this week but has not been on the white house campus since at any point really since this last weekend. As we get the president coming up here on camera it will be interesting to see what he says about that situation as it is the first time, first documented case of covid19 within the white house. Jackie. Jackie absolutely. Blake, thank you so much. Well come back to you when we have more on that. Joining me on this and a lot more, north dakota senator and Senate Budget committee member, cramer. Great to have you today. Hello. Jackie were waiting comments coming out of the white house and the texas positive as well. The secretary of treasury said there will be no bailout for the oil industry. Weve seen massive volatility in oil prices and a major drop in demand. Im wondering if your state needs that kind of federal aid . Well, my kate, jackie, like any oilproducing state the Industry Needs some help. They dont necessarily need a bailout. The first and foremost standard should be no discrimination against them within the Financial Institutions whether government or private. Any Financial Institution that you know, that has a bias should get rid of it. Plenty of them do. Lets make sure that industries that get help are industry neutral. With regard to some of the credit facilities, what i think in north dakota, what most companies i talk to need, besides an increase in price and an increase in demand which will go together eventually, they will need to be able to borrow some money for bridge loans which the treasury and the Federal Reserve provided in the expanded main Street Lending program, but what would help even more would be if there would be a opportunity to use some Credit Facility to refinance or to restructure their debt. Unlike the huge Multinational Companies that are waiting to global up these little companies in places like north dakota, these companies are highly leveraged. Theyre Food Companies and credit worthy in the past and will be again when we come to the other side of this. The thing is having a bridge to get them to the other side. That is what im working on next to try to find that facility they can use in many cases restructure existing debt. Jackie there has been so much focus on the unemployment numbers, people out of work as a result of the pandemic. Oil and gas is certainly part of that equation. I wonder in your state if that kind of financing doesnt become available for some of the shale producers do you worry about unemployment skyrocketing in north dakota . North dakota is not exempt like in any state. Oil and gas industry has such a long value chain, the supply khan for oil and gas in this country is so remarkable. 100 million americans work in the fuel sector. Not to mention the National Economic security that low price, reliable oil and gas provide for our country. And of Course Energy independence from bad actors like russia, saudi arabia. I do worry about it. I also want to maintain, jackky, this is really important for us to maintain the small producers, the diversity of small producers and not see a concentration of just a few multinationals the capital will follow the multinational to the cheapest production site where there is the greatest recovery for their dollars and their investments and that may not be in Western North dakota, may not be in western texas. We dont want to see what happened to the oil industry what happened to the meatpacking industry for example. Jackie senator, you talk about some of the bad actors. When i see oil prices at 25 a barrel, they were trading negative note too long ago. They are even less than where they are right now. President said, look i will take advantage of the opportunity, purchase oil, put it in the spr. It is great for National Security. It helps find storage for some of the oil out there. What is the holdup with this in congress . For whatever reason this is one of the issues hung up frankly, the cares act, 3. 0. That was that we had 3 billion for purchasing oil for the Strategic Petroleum reserve. Democrats didnt want it. Instead they wanted to put more extension of existing tax credits for the green industries, for Renewable Fuels and that was pretty much a nonstarter for a lot of us. So the trade off was we give up the 3 billion, well not allow the Green New Deal to be part of this package. That puts us at a stalemate. That is one of the problems. But, by the way i applaud the president. It is great idea to buy cheap, eventually if we need it we have the reserve but i also say if you have the kind of shale play in the United States so beautifully illustrated in north dakota. We have a strategic reserve. We need to make sure people investing in those Strategic Reserves are able to stay in business so theyre available to us, and when we reach the other side. Then we have to have a long term discussion about what the future of the oil and gas industry will look like. Are we going to continue to be quote Energy Secure but not allow ourselves to be Energy Independent at time like this. We import a fair amount of foreign oil. At a time were shutting in north dakota, 68 wells, 450,000 barrels a day of production loss that doesnt seem to make sense to me. Jackie you bring up so many great points. Wish we had more time to see you. Senator, great, thank you. Happy to come back. Thanks. Jackie big pharma taking a huge hit right now but some smaller farms are actually thriving. Well hear from a Family Business that actually tripled their Customer Base. Also later in the hour, why secretary Steven Mnuchin is in a twitter fight with a 90s rocker. The feud you would never expect. Stay with us. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. 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Jackie farmers have been hit hard by the coronavirus pandemic, especially with fewer orders from restaurants, some farms are actually thriving. Im talking about smaller scale, direct to consumer farms. In idaho craaays sells food to 60 farms, ranchers, bakeries and ordering online and Home Delivery services to the customers as well. So far the company tripled it is Customer Base and quadrupled its product distribution. The owners join me now. Guys, great to see you. Im sure when all of this was started it is pretty scary, you were worried what would happen to your business. Walk me through what you saw and how you actually saw expansion . It started normally our weeks would be 100 deliveries in two days we would get. When this first happened we had 350 orders within the first two hours of our market being open because we had to close it because we dont have the capacity to process that many orders. Jackie that is phenomenal. It is so interesting, from my personal experience i can tell you the pandemic forced me to shop in different ways, do Different Things i wouldnt normally expect. I adopted some routines, when the virus is over i will still continue to do this. Do you think some of your customers will continue to shop with you in that way . So many people say that to us, that its opened their eyes to a new way of, new way of living. Jackie yeah. And you know also dealing with smaller businesses sometimes, it just feels better than dealing with a commercial farm or a commercial Grocery Store, right . It is more personal service. It is very personal. We have personal relationships with all of our mers. We increased Customer Base so dramatically, unfortunately i havent had a chance to meet the people but we will. Everybody is staying home, we were hit pretty hard with the virus in our valley, people are taking advantage ever the Home Delivery. Bring up a really important point, running a business in these unprecedented times, it presents challenges. As states are starting to reopen we heard so many governors talk about how things will be different in malls, in restaurants, what kind of practices have you adopted to make sure employees and your spouse stay safe as well as those deliveries that get out to the customers . We have asked that all of our, we are running strictly with volunteers right now, which has been fabulous. We asked that everybody take their temperature, wear masks. We wear rubber gloves and we obviously have Hand Sanitizer available. We have no contact with our customers. We just drop at the door. Then our drivers can move on and do the next delivery. Jackie i love a story like this because we hear so much about some of the companies that are thriving in the pandemic serving customers. You talk about amazon. Com, for example, but you guys are really the example of Small Business, the backbone of america, being able to grow and expand at this time. How does that make you feel . Were very proud of it. We have a good reputation. So it, we have not advertised throughout the five years weve been doing this. It is all wordofmouth. The customers are sharing with their friends and their neighbors of our service and its just been phenomenal. We certainly wish it was being stimulated by something more positive than the virus. Jackie yeah, absolutely. Final question, did you apply for, did you need any kind of ppp loan in the interim when you didnt know this was going to happen . Did you have any experience with that . We did not because it hit us so quickly but we were just the opposite. We didnt need the money because we are, our sales increased so dramatically that we werent in a position to have to ask for money to keep this going. In that first week in that first day, it exploded in our laps. Jackie sherry, harry, great to see you. Good luck. So glad to hear that positive Success Story in a time where so many people are struggling. Thank you. Thank you very much. When this pandemic is finally over, innovators will need help starting up again. That is where start up accelerators come in, providing seed money, menner toking other opportunities mentoring, other opportunities as well. Gerri willis is with me on that. Jackie, thats right, Small Business the backbone ever the american economy. , employing 48 of american workers, now sidelined by covid19. 29 closing in recent weeks leading to estimates now more than half of the nations Small Businesses forced to temporarily suspend operations. How tough is it . The current climate this is very, very challenging like nothing weve ever seen before. Ive had to manage through 9 11, the d. C. Sniper, 2018. Its not good. Stuff that you have been working on for months gets derailed and you have no idea when its going to come back. Thats what he an entrepreneur says as he mentors startups towson accelerator. He is engineer, modern day milton bradley, developing his own game company in the middle of the pandemic. Lockbox adventures, send puzzles to crack a safes code, high value prizes await inside. Getting it done is hard during the lockdown. Covid19 impacted me early on with my supply chain because people werent shipping things. Businesses were closing down, i actually had an issue i ran out of inventor. I had to think outside of the box if you will. He says the country needs all kinds of innovation now as it attempts to stall and stop coronavirus. Right now it is not the time to cut back entrepeneur on theship and innovation. It is time to double down on it. Take a look at 2008. Yes, that was a bad economic time, not saying it compares to now but it was not great. That gave us Companies Like slack. It gave us airbnb. It gave us dropbox. Obviously you can develop in these times. And, jackie, he tells us to keep your eyes open for businesses large and small that start up during these tough times. Back to you. Jackie gerri, thank you, we certainly well. Were keeping our eyes on the market. The dow trading under 24,000 now, still in the green but paring some of those gains. Were awaiting headlines from President Trumps meeting with Texas Governor greg abbott. American action spokesperson kelly sadler weighing in on the governor softening the order of the jailed texas hair salon owner. Well talk about, welcome to the jungle. Why Steven Mnuchin and axl rose are locked in a twitter feud. You dont want to miss this. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Jackie american exports of pork to china are skyrocketing but as Tensions Mount between the United States and china over the coronavirus can we expect that trend to continue . Edward lawrence joins us now with the latest. Edward. Reporter just walk through your local Grocery Store there, jackie, you will see the meat shelves are empty or limited, have limited selection this is as the export of meat from the United States, around the world actually has increased. Look at this, the amount of pork, for example going to china jumped 60 from october of 2019, to november of 2019. That may be because of the swine fever that decimated their pig population there in china. Could also be from the goodwill that china was trying to gain as they were building for a phase one trade deal but you can see from the numbers how much is being exported to mainland china. The last number on the list, march of 2020, 95 tons of possibler actually went to china. Same as beef and in japan. 84,000 pounds of beef was exported to japan. That is up 23 from january of this year. Now some increasing the exports, the production has been slowing down. That has created some of these shortages. The secretary of agriculture addressed this in the oval office yesterday. I think we turned the corner. Things are coming back online, obviously because of some infected employees they wont be full bore for a while but i think the stores you will see more variety and more meat cases fully supplied. What is your time . I say a week to 10 days well be fully back up. Yep. Reporter 10 days back up to capacity. Now sonny perdue send a letter to the stakeholders in the industry, threatening them, action will be taken if they dont reopen the plants safely. President donald trump said this is critical part of the economy for the u. S. In fact 40 processing plants, Meat Processing plants shut down for a day to several weeks in some case the since the coronavirus has started here in the u. S. Back to you, jackie. Jackie edward, thank you so much. Certainly the chinese need our pork but we need those products too. Well be watching closely. In the meantime were waiting to hear from President Trump who is meeting with Texas Governor greg abbott. Now the state has been in the National Spotlight after dallas salon owner Shelley Luther was jailed for opening her business too soon, saying it is not a crime to feed her family. The state Supreme Court ordering her release. Joining me America First action spokesperson, kelly sadler. She make as fair point. People need to feed their kids and need to work to be able to do it. There is a lot of controversy what businesses should stay shut and how long they should do it . Absolutely. Governor abbott made the right decision. The Supreme Court backed him up in granting Shelley Luther her freedom back. Right now we have a terrible situation in the United States where one in five americans is unemployed. It is essential that we start getting these businesses back open and people back working again. And you know, the power of government really, and really its just, you know, the legitimacy of government is based on the consent of the governed. We have a lot of lawmakers, a lot of governors around this country who are acting like theyre the masters and not the servants. It is not up to them to decide what is essential and nonessential. The burden of proof is on the government to say why a business shouldnt get back open if it doesnt meet Health Concerns that are there. But really, i mean, all businesses are essential and all workers employed by these businesses view it that way. Jackie kelly, let me push back and play devils advocate for a second because there is a period where we didnt necessarily have the hospital space, the ventilators, Health Care Professionals in place, that is why we needed to slow the curve. Say for example, everybody didnt follow their states orders or federal guidelines, said you know what . I will keep my business open anyway. Doesnt that create a slippery slope for having a larger problem . We did. The whole idea of flattening the curve so the hospitals could ramp up on the ppe, on ventilators have the capacity they needed to treat covid19 patients. Even states like new york which has the most severe outbreak we dont see their hospitals are being overwhelmed. So we have taken care of that issue. That was the whole argument in the first place, flatten the curve so we get supplies where we need them. We have the supplies where we need them, we need to think about starting to reopen. Jackie flatten and get back to work. 2020 has been an incredible year so far. No one, kelly, could have predicted we would see a feud between guns n roses front an axl rose and the treasury secretary. I saw the exchange earlier this morning. Axl called treasury secretary Steve Mnuchin an ahole. Steve mnuchin came back said what have you done for the country lately . There is controversy, use the liberian flag, delete it and change it . 2020, could not be more crazy. Trending Steve Mnuchin and axl rose. I like guns n roses music, i support the treasury secretary. What is more insane, yesterday we had a fiveyearold jump in a car buy himself a lamborghini with 3. These headlines are typical 2020. 2020 all i can say, what a year. Jackie axl rose not saying why he was angry at the treasury secretary. Just calling him a foul name. Thank you for your time. If youre looking to buy an rv for your vacation this summer, and helping you to avoid the crowds. You are not the only one out there. Is the rv industry witnessing a revival or is this just a blip . Well tell you more. We have fresh details on californias secretive mask deal with a chinese mask company after the billion dollar agreement hit a snag. Its smarter Trading Technology for smarter trading decisions. Fidelity. And let me tell you something, rodeo. I wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. Eliminate monthly mortgage payments, pay bills, medical costs, and more. 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So you can. Retire better. That Liberty Mutual customizes your insurance, i just love hitting the open road and telling people so you only pay for what you need [squawks] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Jackie new details emerging over californias botched billion dollar deal with a Chinese Company for protective face masks. Kristina partsinevelos joins us now with those details. Kristina . Reporter it was a billion dollar deal with so few details until late last night when i received the 42page contract between california and chinese electric carmaker byd. Up until two months ago the firm switched from making auto parts to creating ppe supplies, masks and ventilators. The fda has approved the company but anytime a mask arrives from china on to american soil it still needs further approval, which is why california rushed to go buy these n95 masks and the most recent news were hearing, there has been a delay of millions of masks causing california to be refunded 247 million. Governor gavin newsom of california says it is the wild wild west when it comes to securing a deal to get the n95 masks because so many states are competing right now. Why he has been so hushhush about the billion dollar deal. What we do know the financially embattled state agreed to pay 3. 30 per n95 mask. If you compare it to a u. S. Supplier, lets say 3m. Theyre charging as little as 63 cents a mask. California spokesperson defended the inflated prices in an email to me. He said, quote, the per item costs of mask in this deal provided exceptional value to taxpayers at a time when local, state and federal agencies are paying an average of 6 to 7 per mask, in some cases well in excess of 10 per mask, this agreement locked the state in a Competitive Price point at scale. Jackie, though i want to just point out this isnt the first time californias deals have hit a snag. Just in march alone californians paid almost half a billion dollars for further masks from a Company Called blue flame medical. But they canceled that deal. Then also got refunded. Just shows the willingness of states right now to work with inefficient or inexperienced companies in terms of to get the Vital Equipment for front line staff members. I guess the moral of this story, rushing doesnt always go as planned. Jackie no, it doesnt. Kristina, a lot of questions around this deal. Thanks so much for helping to lay that out for us. Joining me to discuss ought little bit more wall street journal opinion writer jillian melchior. Kristina laid out the problem as it faces us right now, but i want to backtrack a little, why california was in the predictment it was in. Why was it states were scrambling around looking for the ppe equipment . Because effectively wasnt in the covers where it should have been, right . That is not necessarily the fault of the current administration. Yeah. I think you got to give the Bush Administration a lot of foresight stocking up on ppe. Some of that was depleted around 2009. Neither the Obama Administration or Trump Administration built it up. I think something what is happening now is a true black swan. Nobody saw this coming. Nobody knew it was going to completely disrupt public health, the global economy. So i do think you have got kind of a understand scramble for suprise. Looking back a couple months ago, the world hello organizations saying demand for personal protective equipment was 100 times what it actually is. So i think out of that desperation, out of that mad rush for lifesaving equipment youre definitely going to see some questionable contracting. Jackie yeah. The timing of this deal as kristina mentioned, when everybody was searching for these masks maybe why california went to china for the source. I dont think anybody would choose to pay 3 for a mask when they could get the same product here for 63 cents, right . I think youll see a lot more stories propping up with waste, fraud and abuse. My colleagues on the news side of the wall street journal reporting about illegally questionable contractors here in new york that ended up receiving contracts for everything from meal deliveries to personal protective equipment. I just think anytime youve got such a rush, such and you are again sy to getting this equipment you will not go through the normal procurement process. You will not have the normal oversight. It is so important to be transparent. Jackie it lists important to build up the supplies so we get what we need right here. Jillian, always great too sea you, thank you. Thank you. Breaking knew the Justice Department is officially dropping its case against former National Security advisor against Michael Flynn. Flynn was prosecuted as part of the fbis probe in the russian meddling in the 2016 election this stunning reversal coming after the department of justice, quote, considered all the facts and circumstances of this case including newlydiscovered and disclosed information, end quote. It had been recently revealed flynns interview with the fbi was tainted and conducted without any legitimate basis. All right. Rv sales are booming during the coronavirus pandemic. 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Surprise we renovated the guest room, so you can live with us. Im good at my condo. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Jackie recreational vehicle sales are on the rise nationwide as americans look to change their Summer Vacation plans from flying to driving and also to be able to abide by social distancing guidelines. Jeff flock is live at an rv dealership and joins us now with more. Jeff, this is really interesting, because it is not something i would have normally considered but never say never, right . Reporter im with you. I should have seen this coming because obviously what better place to social distance and not be in a hotel when youre on the road than have your own rv . We are in the prep area of what is called campland rv in burns harbor, indiana. Indiana turns out 80 to 90 of all the rvs in the u. S. , manufactured in indiana, and they sell a lot of them here too, pam augustine. I want to make sure im socially distanced. You are getting swamped. We are. Even before the governor turned on the state here in and indiana, people calling, people texting in, a groundswell of customers. Reporter jackie, here is the deal, the shipments, pam, all of these have been sold and going out the day or tomorrow. If you look at the shipment numbers it doesnt look good. In march shipments were down 20 from the manufacturers to you. And that makes me wonder, do you have enough stock and you know inventory . Well, you always wonder but we believe we do. We started to getting our inventory in, we start planning in january to bring it in for the season. A lot of it hit before. Then in march, when the factory ies shut down at end of march and through april, we were sitting pretty good. Now theyre back up and our orders are coming. Reporter mike, come over here. Theyre prepping this one to be delivered today. The reason people are buying these now, they want to be on their own, not worry about being in a hotel. Some put them in their yard so they can sequester if they need to. Firstresponders want them, want them pretty wick it park them in the driveway, so when they get home from work, not contaminating, for lack of better word the rest of their family. Reporter pam, thank you very much. I dont know if it is a blip or the next big thing, but for whatever reason, and whatever the future holds rv sales going through the roof right now, jackie. Jackie jeff, i thought i saw a Granite Counter tap in the rv. Pretty highend. Nicer than my house. Those of these places are nicer than my house. This one here, you could live in that one, not miss a beat. Jackie great reporting as always. Jeff flock, thank you. Reporter thanks, jackie. Jackie stocks in the green but off their session highs. The dow is trading up 24,000 up 236 points. As we head into the final hour of trade. The question is, can the nasdaq finish up for the year . Uber reporting the anticipated earnings after laying off 14 of its workforce. Well have a preview on that one next. What do you look for when you trade . I want free access to research. Yep, td ameritrades got that. Free access to every platform. Mhm, yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. Now offering zero commissions on online trades. We charge you less so you have more to invest. And my side super soft . Yes. With the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes. By gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. So, you can really promise better sleep . Not promise. Prove. During the memorial day sale, save 1,000 on the sleep number 360 special Edition Smart bed, now only 1,799. Only for a limited time. To learn more, go to sleepnumber. Com jackie President Trump is now taking questions during his meeting with Texas Governor abbott. The president says that hes very happy for former National Security adviser Michael Flynn after the Justice Department is dropping his criminal case, plus the president says that the next year will be a phenomenal year, and we have the greatest economy in history. We are going to bring you more headlines from the white house as soon as we have them. Meantime, we are watching stocks very closely, rallying into the close. The final hour of trade, investors are going to hear from a slew of companies this afternoon reporting after the bell. Lets bring in pointview Wealth Management president and chief investment strategist, david dietze and walser Wealth Management rebekah walser. Twothirds of the s p 500 reported earnings and whether its expected or not, it still hurts to see them down more than 12 quarter on quarter, and thats not even taking into account that the worst of the coronavirus happened in april. Your thoughts on where companies are going to have to go from here. Yeah, absolutely. This is the big juxtaposition because we see a tremendous rally off the march 23rd lows, as much as 30 . The nasdaq may well finish the session up today, slightly, First Time Since early march, yet at the same time, as you just pointed out, q1 earnings are really a disaster. In fact, its not just that they are double digit down year over year, but the percentage of beats off a very beaten down expectation is the lowest since the subprime crisis. As you point out, q2 is only going to get worse. I think there are just a couple ways to reconcile. One is, its going to be a very deep selloff if investors are already looking to 2021 when there should be a 28 rebound. Of course, the other thing investors are expecting, i think, is continued substantial help from the Federal Reserve and more stimulus from congress. Jackie yeah, low Interest Rates definitely help. Rebecca, sort of keeping that punchbowl spiked. At the same time, we are looking at a lot of companies that are reporting and yes, you have Companies Like amazon who, you know, didnt even missed earnings as a result even though they are seeing Better Business during this coronavirus pandemic but they have higher costs, for example. But you are seeing some Companies Benefit and others are getting hit hard. This isnt like the financial crisis where the banks were impacted. Every sector is getting hurt here. Yeah, this is just an Overall Economic shutdown and you know, people talk about q1 and i agree with your point at the very beginning of the segment where we were actually plus two on gdp going into the second week of march and so to come out with a 4. 8 negative swing, thats really a 6. 8 negative swing in a twoweek period. But that is what we should expect when we shut down voluntarily the entire economy except essential services. So yes, there are some outlying Companies Like amazon that has, you know, online delivery or demand and netflix and these kind of things, some of the Cloud Computing obviously done well. If you look at amazon, obviously the overhead expenses, their shipping went up and they actually took on a lot of investment to actually make that happen faster. So thats going to offset numbers. But this is what we get when we shut down our economy. We have to reopen in order to actually start to see a better q3 and q4. Jackie all right. Guys, i have to leave it there. Thank you so much. We will obviously be watching these earnings after the bell. We will hear from uber and it was difficult for lyft so its something certainly to watch. We are watching the dow as well. 23,916, the dow is up 252 points, well off of its session highs, but Still Holding on in the green. We will be watching the nasdaq very closely in the final hour of trade. Liz claman, that hour is yours. I will send it over to you. Liz you know, i cant tear my eyes away from the nasdaq. Talk about a stunning comeback. In this hour, everybody, we could see the nasdaq officially turn positive for the year after scratching and clawing away at this years deep losses. So the number to beat, 118 points to the upside and we are above that now. Nasdaq up 131 as President Trump meets with Texas Governor greg abbott at the white house. We will bring you the tape as soon as we get it. But these green shoots we are seeing on wall street, sprouting in part because dozens of states are cautiously reopening with the knowledge that the deadly pathogen lives on surfaces. The unsung hero here is stericycle, the