Eamon javers is inside the meeting. Meg, what can we expect outside of this meeting . We did see the executives head in just a few moments ago as well as research chiefs theyre expected to discuss the status of development of both vaccine and drugs for the novel coronavirus. Gilead and regeneron have medicines in development, while the others are working on vaccines, as moderna las already delivered a batch for testling Stephanie Duke is catching up with stan erk, asking what he hoping to get from this meeting. Im hoping to get a commitment from the government theyll help us expedite the process. The case numbers are continuing to rice here, with seattle and king county just announcing an additional four deaths, bringing the total in this country to six. Guys what are you expecting, meg, in terms of the numbers of those that are diagnosed, given the fact that the cdc apparently is starting to provide more contests or is it in addition, we are starting to see local Public Health labs, and hospitals and academy labs get the capacity to test, so Scott Gottlieb estimates well see 20,000 test capacities per day within a couple weeks, already the numbers are dramatically increases as the labs get the ability to test themselves. Huge numbers each day, and were trying to deep tracking them the numbers will keep rising experts think potential thousands of cases are already circulating, now were just starting to detect them. All right meg, well get back to you in a moment whats driving the reaction . Stocks in recovery mode, apple leading the dow up, almost 6 , as one analyst says buy into the weakness investors are becoming increasingly optimistic about still lug from the federal reserve. Ism index falling, missing expectations, though, still above the 250 expanse level. News of the extra deaths from seattle, probably had an effect on the market. We sold off in the last hour or so, were now up less than 2 on the s p 500. Joining us for the first full hour, oliver hirschle. Good to see you, oliver. Was this bounce expected in. Its important we see a hold. The vix, when it tends to get above 40, that tends to signal a shortterm bottom. It was also important we didnt get more bad news over the weekend. The real question is what happens tomorrow, what happens wednesday you know, how we close in the next hour will drives the estimate mostly what kind of clients . Its high net worth. What are they doing with their money . Theyre staying put theyve had a few have jittery clients, but generally speaking, theyre staying put, staying invested we also havent had anything say i want to buy more on the dip. Generally i would say people are staying relatively calm. It sounds its much more relaxed than the many we have spoken to. Good for you meantime, Companies Continue to utline the viruss impact target is cancelling nike has closed independents European Headquarters honeywell is seeing a surge in demand for the protective face mosques p a lot of reports of long lines at stores like costo. Interestingly, the New York Times warning on the guidance, warning its see a slowdown in advertising bookings seeping into other parts of the and were seeing utilities is a strongest sector again, i think its way too early to call the bottom that doesnt mean sell or act irrationally, but take your time and digest the data. Meantime, on the economic side, china paints an ugly picture with the purchasing Managers Index falling to a record low in february gaming revenues in macao fell almost 88 . The survey was completed on february 21st before the worst of the outbreak. As for the global outlook, the growth forecast was slarshed evercore cut its forecast to zero in a note and Goldman Sachs downgraded the gdp outlook, and called for the fed to cut ratesly 100 basis points by the end offed second quarter. Jan hatzius will join us in a few moments. It just shows the lack of wiggle room if economies tend to get worse. We havent seen any of the Economic Data from when the worst of the virus break was, and we wont for another week or two, so expect more volatility. I dont understand how you can make a forecast without knowing what the virus will look like here. Humans are terrible at forecasting risk we either exaggerate it our underplay it last week was probably adispla of exaggerating the risk the good news is that even if the worstcase scenario from an Economic Perspective is correct, and we get a zero percent growth or even negative growth, that demand tends to get pent up and not just dissipate so youll make up for it down the road, its just a question of when. So thats why the market will be volatility mike santoli has the first market dashboard of the session. Would you rather get your Investment Income from stocks or bonds. Well look at the and anything you can do, its a growth versus value relationship, which actually hasnt changed all that much trust or dare this is the interplay. And apples to apples so would you rather. Obviously bond yields have been collapsing right now stock dividend yields are handily exceeding the level. This goes ban ten year whats amazing is how steady the dividend yield has been. Three distinct episodes when we traded for a period of time below thedividend yield in terms of the bond yield. That was starting in 2011, 2016, and then now this clearly is not the reason the market is up today, but its part of the backdrop, showing the relationship had become very stretched in the long term i would say theres a bit of a caveat if you go bag to the 1950s, dividends were always if were in a permanently lowInterest Rate environment, who knows if this will be the new status quo thats essential now have a a yield higher than 1. 08 or so or the tenyear treasury. If you think youre willing to take the downside risk, theyre paying a bit more. The two previous instances, they prolonged and lasted for quite some time, though, as well they persisted for a good while. There were also times when you had a very strong period of Stock Performance begin in 11 and 12, they did well, and in 2016, too. So it is a bit of an oscillator. Mike, thank you so much still ahead here on closing bell, focus on the fed. Sarah bleak razz kin said pandemics dont care if you lower Interest Rates after the break, larry cantor has a message for investors can cash on the sidelines. Hell better here to sre ihat with us next dow is almost up 700 points. Dow is almost up 700 points. Well be right back. Okay, its got screeners and watchlists. And you can even see how your predictions might affect the value of the stocks youre interested in. Now this is what im talking about. Yeah, itll free up more time for your. Uh, true crime shows . British baking competitions. Hm. Didnt peg you for a crumpet guy. Focus on what matters to you with thinkorswim. Its a masterstroke of heartache and redemption. The lexus nx. Modern utility for modern obstacles. Lease the 2020 nx 300 for 359 a month for 36 months. Experience amazing at your lexus dealer. Lease the 2020 nx 300 for 359 a month for 36 months. Danafarber Cancer Institute discovered the pdl1 pathway. Pdl1. They changed how the world fights cancer. Blocking the pdl1 protein, lets the immune system attack, attack, attack cancer. Pdl1 transformed, revolutionized, immunotherapy. Pdl1 saved my life. Saved my life. Saved my life. What we do here at danafaber, changes lives everywhere. Everywhere. Everywhere. Everywhere. Everywhere. Today flirting can 112 sara, we were discussing this a bit earlier. Even if the outlook remains much better in the u. S. , the capacity for rate cuts here are much higher i think thats really whats driven this in the last couple days. Expectations that the fed goes more excessively. Last week the dow dropped more than 3500 points however, the markets are bowening back on expectations the fed will likely cut rates off next meeting, march 18th is it enough to temper the economic impact. Joining us is larry kanter and also on the investment committee, an online Wealth Management company larry, can the fed do anything about this well, thats not the main thing thats going to help we dont know the severity or the spread of the crisis thats whats going to cause markets to bounce, not the fed the fed probably helps, especially with getting the dollar down. We have already seen a massive rally in bond yields if any, a fed cut, which i think is likely in the next couple weeks, if were in the same situation when we immediate next, but thats not going to turn things around thats just going to confirm whathas happened what do you make, larry of the scale of the equity market sell jot we saw last week . Do you think the bounce holds . No. First of all, we have not seen the economic damage, as something mentioned before on your show. Its going to be significant so its going to be pretty significant. What i would say is this for the average investor dont panic. Investors tend to sell after things plunge and go down, and then buy after they rebound and go high, so theyre in the selling low and buying high. Stay in there, basically even though we dont know the severity of this or the spread, it would be contained at some point, the economy will bounce back you can feel pretty confident that before the end of the year, even if it last as long time, like six months, stock prices already higher than now and so are bond yields. So stick with it is what i would say and stay calm. Again, we havent seen the damage yet i dont even know because of the fed expectations, i think thats been there for a while we had a very severe drop last week of some stocks that people like are now pretty attractively valued i think youre seeing some people edge in a bit here. If it were me, i would probably expect more declines going forward. But you tell people not to panic, larry. Right the idea is you have to think about the time frame with that in mind, what are you looking at i was speaking with someone who is going to be retiring soon, who said i cant go through another crisis like we had what do you tell someone like that if youre a year or two from retirement, you shouldnt have been overloaded with stocks, in the first place. As you know, we have corrections. Were probably going to get a correction anyway, not this severe, but i would still say hold steady, because things will improve. Again, we dont know how longing this going to take, but it would he shocking if this isnt contained before yearend. I would say that is the longest time horizon you would be thinking about so, you know, again my view is stick with what youve got if you have excess cash, you might want to start looking at at least edging into some stocks that look very attractively valued, but be prepared for further declines thats what i would say. Larry, as for stocks that might be attractively valued, i wanted to ask you about u. S. Banks a sector you know a huge amount they fell into bear market territory, down 20 from the january highs. Does that mike sense given the moves we have seen in yields i think thats one of the sectors you could think about edging into, but again any amount of mine you put in there, about he prepared that things could even get worse but in terms of the question of what should you look for markets will rebound before the economy does what the markets are going to be looking for is a peak in the growth, in the spread, okay . So some indication, like at the end of the tunnel theyre gettinging this thing under control. When you start and by the way, there are signs already within china, though they took draconian measure to prevented spread, that the incidence is slowing. We are not at that stage in the United States and most other countries yesterday. Actually the spread is accelera accelerating thats when you want to look for, and we are not there yet. Larry kanter, thank you. My pleasure. We have 40 minutes left. S p 500 also having a nice strong bounce. 11 sectors higher, health care is actually leading along with real estate, technology. Nice 1 to 2 ains a number of firm us out with a buy list well tell you some of the surprising names that made the cut. And well continue to bring you the headlines with the white house meeting with pharma. Well speak with john shiver back with you in a few moments where people go to learn about their Medicare Options before theyre on medicare. Come on in. Youre turning 65 soon . Yep. And youre retiring at 67 . Thats the plan its also a great time to learn about an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company. Heres why. Medicare part b doesnt pay for everything. This part is up to you. A Medicare Supplement plan helps pay for some of what medicare doesnt. Call Unitedhealthcare Insurance Company today to request this free decision guide. And learn about the only Medicare Supplement plans endorsed by aarp. Selected for meeting their high standards of quality and service. This type of plan lets you say yes to any doctor or hospital that accepts medicare patients. Do you accept medicare patients . I sure do so call unitedhealthcare today and ask for your free decision guide. Oh, and happy birthday. Or retirement. In advance. Welcome back to closing bell. Multiple saying now is the time to buy they are looking at Companies Whose outlook does not materially rely on china and whose valuations have fallen well below average they have 5 nam they have 55 names on that list. The fed says its repositioning for shock. And levelled exposure to asian supplychain riskses many of those are down today. Wedbush is out with his playbook saying now represents what they call a golden opportunity to know tech names. Among the tom names microsoft, apple, tesla, adobe, among those tesla is seeing a surge. Do you have a good opportunities on this shopping lith . , yeah, we like apple. Theres several names. Theres been a lot of talk about the tech sector. I would be cautious, yes, its likely to see a shortcontinual buns, but to us theres enormous risk build in. We know that either President Trump will win the election or a democrat those are the two choice is. Do you think they can keep up campaigning, pounding the Drug Companies and health care companies, when we need their ingenuity now. Youre 100 correct, but President Trump has already stated he wants policies not necessarily friendly to the Drug Companies. To it doesnt matter which party wins, either one have a regulatory risk, so i would be too cautious to jump into pharmaceuticals here the bank of america list, is 55 stocks literally from all of the sectors. So is it too hard to picket out at sector that will benefit or suffer. You should by stock specific always we want robust Balance Sheets, ideally means that the company is taye market share, and we want earnings visibility, meaning we can see what is happening of how the Business Model will involve and in addition to the Revenue Growth, theyre raising dividends, then we feel pretty good about the longterm prospects. And we are up about 2. 5 . Climbing back towards the session highs, the dow is up 824 points, the high is 844, so the selloff early afternoon. About 34 minutes left anything can happen. Coming up, tech investor dan niles will be or guest and jan hatzius is producting a fed cut rate hell break it down. Treasury yields falling down today. A tenyear record low. Were well above that now at 110 , but still theres buying of treasuries. Well be right back. Woman my reputation was trashed online. I felt completely helpless. My entire career and business were in jeopardy. I called reputation defender. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. Welcome back to closing bell. We are looking at a very strong bounce here, coming back off the worst week we have every group higher were back above 3,000, back above 26,000, utilities are leading the charge now, staples also rallying nicely herer the key things driving the actio action. Heres whats happening. Joe biden picking up two major endorsements from candidates who ended their campaigns. Amy klobuchar and Pete Buttigieg pledging support to bidens campaign. San antonios mayor voicing anger towards the cdc after a woman who had visited wuhan, china, was released. A third test came back weakly positive after she was released. I find it totally unacceptable that cdc would release apatient prior to receiving all test results and potentially exposing the public to this harm we simply cannot have a screwup like this from our federal partners. Check out this emergency landing. Emergency crews waiting for the plane nearby, the pilot and the passenger both got out of their plane safely once it skidded to a soft. I would have been out there a lot quicker, but at least they got out. Anything you can do, i can do better. Thats what Growth Stocks are saying ed a lot of strategies upend ed we did see a bit of a gut check. They did correct pretty sharply relative to value, but guess what back as an alltime high here. Yes, some of the most beaten up values are bouncing hard, but in general, with yields down where they are, people still gravitate toward traditional growth. It also mean the popular trade it still works, or maybe the amount of pain has not been that great, as opposed to systematic thanks solve for that, well check in later, goldman sakes, the firm now believes the fed will get more aggressive goldman expect the fed to annoy a 50pace points at the march meeting, and a total of 100 basis points this year jan, thank you for joining us. Its a pleasure. For the world we took it down to about 2,000 with the weakness concentrated realizy in the year partly china, but also partly the spreading virus, and spillovers from china. In the u. S. Were at 1. 3 now for this year, down from a little other two and with the u.