Performance of all time. We are looking at limit up with dow futures and the etf slightly more than that looking at the treasury market the yields have been all over the place. Weve watched the 10year go from. 4 to 0. 85 . Andrew a huge lineup for you this morning, in about 30 minutes, new data from the china books about how ugly the hit to the First Quarter may be at 7 15, well talk to the ceo of lab corp about the ramp up for testing. At 7 30, well talk about the hit to our economy with Starwood Capital. Last time he was on, he was bullish in the face of the bears. And at 8 00 a. M. , the ceo of boeing, dave calhoun so many questions for him. At 8 30, joining a growing chore yus of voices. Global cases have topped 38,000 including 300,000 in the United States. New york city with the biggest hotspot. 13,000 confirmed cases in the city new york state accounts for half of the confirmed cases in the United States. China says the lockdown in wuhan will end on april 8. Cnbc is bringing you Team Coverage of the coronavirus pandemic, reaction in the market and governments response. Steve liesman will join us with the latest stimulus measures im still not convinced. We are still waiting for the s p futures. First, well get to eamon javers on the latest to pass the stimulus bill in the senate. How late were people talking about this last night, do you know they went until well after 8 00 p. M said they will reconvene about 9 30 this morning. As democrats and republicans left, they both said they felt close to a deal. Democrats were holding out for more constraints to the aid to companies. They want more oversight and not to be what they call a slush fund that seems to be the last big Sticking Point they are reconvening at 9 00 in terms of the negotiations and conversations. Well see whether they can pass that by tonight. In the meantime, we saw the president in a twohour period of time really visibly struggling with the tension here between the damage to the economy of this shutdown and the Health Implications of reopening the country. The president suggesting medical professionals may be too strict here in terms of wanting to shut the country down if it were up to the doctors, theyll say lets shut down the entire world we are up to almost 150 countries. Lets shut down the entire world. That will be wonderful lets keep it shut a couple of years. You cant do that. You cant do that with a country, especially number one economy in the world, by far you cant do that. It causes bigger problems than the original so the question here is when will the president order the country to be reopened the president not giving any indication yesterday the 15th day of the 15day suspension will be monday. The president not committing to that i texted with a senior official and asked if the president will reopen by the middle of april, this senior official said the president wants to do it sooner than that. The big unknown in all of this is what happens if the president gives that go order to restart the economy. Of course, the economy wasnt shut down by the president , it was individual governors and Business Leaders the whole thing began with the nba suspending its season. Will those leaders follow the president s lead or make their own calculation and decision based on experts, and even liability if they reopen and somebody gets sick as a result so all of those considerations will be complicated. Even if the president does say he wants the economy up and running again. Eamon, to that point, i was reporting yesterday, spoke to officials in new york and california and general counsel of two fortune 10 companies. All of who want to get the economy started but are tremendously worried if the president does give the signal to go ahead, that theyll have to be the outliars and not do it those states, california and new york expected to be the most hard hit those general councils making the point if they were to bring their employees back and if people were to get sick and or die, that the liability would be free mendious. I think there will be a huge question mark about how this will take place and how quickly it will happen if the curve is getting bent, i think everybody will be on board. That is more than next monday. From what im hearing, from folks in new york and california i think you are talking about two or three weeks from now before you you are going to get the sign about which way the numbers are going. Right think about the politics of this if the president does say it is okay to reopen the country, and leaders dont do it. You can imagine President Trump will point to those figures and say thats reason the economy is tanking but the reason hell say is because those leaders arent doing what i said. That will give the president a scapegoat going into reelection. He was planning on running on the strongest economy. He might have to end up running on the weakest economy since the Great Depression this is a looming concern is how do think run to reelection and having a scapegoat to point to is something tactically politically useful im watching different politicians appear and hearing from other Business Leaders in states that maybe arent as affected and there are people saying that closing down everything and im not buying i need to be sold a lot harder on the idea of not continuing to try to bend that curve, it has been said anyone 70 or over should stay home. Other people young, they should have the option to go back to work this is something im hearing. Im not saying i agree with it it is not just trump that is talking about it joe, im hearing go ahead, andrew. Im hearing the same thing. Business leaders want to get back to business the other question to ask and i also heard this yesterday was if, in fact, younger people if you decide you are going to quarantine people of a certain age. If you were to do that, people would go back to work if there were things like these n 95 masks, gloves and other supplies we dont even have those ready for the Health Care Industry for enough people to get back to work is still probably three, four, five weeks away. It is not just the masks and the gloves you also have to have testing. What they found over the last several days is that a symptomic people are not showing signs and people ages 20 to 50 are getting sicker than Early Research if you look at whats happening now, the a symptomatic spread and suntil you can find out who is Walking Around with this is completely irresponsible if youve seen the latest news out of italy, talking about in terms, of a glummer ofhope that for the last two days, cases and deaths have started mod rating it is the same point in time that south korea, we are seeing it there even in italy, glimmers. And the image puts us 14 days behind that. Also, eamon, we went back and forth on twitter with the 1 mortality. Zero is what we want for a while, we were worried 3 , 4 once the Hospital System got overwhelmed in a place like new york city, you will not be able to keep it at 1 or below. I agree the problem here is fear of the unknown. For political leaders and Business Leaders, you cant plan if you dont know what you are planning for there is so much of this thing the other one i havent heard the answer is whether or not you can be reinfected after youve had it and can recover if you are, that implies an increasing number over time who have recovered and are now able to go about their daily business those people can get back to work we dont know that. Thats why one of the beauties of our great immune system, 4 million years of evolution has perfected this thing the other worry is about the fall, when it gets cold get, there will be a second wave. Hopefully, well know about the gilead drug or vaccine or testing. I get up and im afraid to look at my phone. For some reason, i guess the futures, i still dont know, andrew, if we have enough windmills in this bill i think youll need more windmills. I hope you are going to stand firm im Standing Firm on the windmills. Wait until you read the pelosi bill. Such a great soap box i wish you would get on it for other issues i can only do other things. The only wind mill i care about is keeping people safe lets get to the lies man. How are you, steve im doing well. Great discussion, guys the fed is going to come in and buy aggressively again today im hearing some guarded optimism that credit markets could perform a little better as those markets could either loan or purchase munis. Those are ramping up and there is some guarded optimism what everybody is waiting for is what you guys are talking about with eamon, congress to get its act together they are working on this main treatment pension program. It needs congress. The bill could perform 400 billion. The fed could ramp up 4 or 5 billion. It is not supposed to pick the Balance Sheet. It can act as the agent of the fiscal side. Lets do some high finance how do you take 425 and turn it to 5 billion. The fed will take a loan, hair cut that loan, the treasury assumes the first 10 of the losses now the other side of what the fed is doing here, which is the purchase of the market the fed said, it is going to with buy 125 trillion that gives us 625 billion worth of purchases this week alone last week we totalled 320 billion. A comparison 6 600 billion was qe2 over about seven months this is about two weeks. Whatever is going on, the fed acting more aggressively and really further out the curve than it has has in the past and really stretching the boundaries here well see how that main Street Lending program is restructured. Something the fed has never done before i dont think there is an analog for any central bank in history doing Something Like this. Back to you. Thank you well take a quick break a new report that says major u. S. Airlines are drafting plans of potential shut downs. Well talk about the impact of the air lanes executive well talk to the ceo of boeing. Check the tracking etfs right now. We are just above that in terms of percentage gains. One of those days where i dont like the limits. Other days, i love them. It depends well be right back. 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. It is already working in cities like tokyo. We segetting to patientscines in record time. At emerson, when issues become inspiration, creating a better world isnt just a result, its a responsibility. Emerson. Consider it solved. 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. 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. Welcome back airlines and boeing having a brutal month a new report saying Major Airlines are drafting plans for potential voluntary shutdown of virtually all flights in the United States. Heading over to phil lebeau in chicago. Many saying, wait, thats going a bit too far. I talked to a number of executives last night is that they are drawing up con continue si plans lets take a state like california, at some point, the governor could say, we dont want any flights coming in here, if that happens. Then maybe the state of florida and others, contingency plans are being drawn up but going too far to say we are ready and making plans to shut down that is not happening based on my conversations with executives and officials. We are talking about the Airline Stocks looking to get a pop higher requesting 50 billion higher. Well see if that goes through the drop in Airline Passenger traffic is dramatic. Well talk about whether or not the hand will be forced. The number of people going through tsa check points 454,000 is 18 of what it was on the same day last year basically, youve got 20 of the people flying last year are again, flying this year. You take a look at shares of boeing, this is a company that has net negative 28 in orders this year. Are they likely to get a positive number in march when they report those . Maybe, maybe not a person to ask about that is dave calhoun you do not want to miss this interview at 8 00. Well talk about the demand in the market for new aircrafts obviously the negotiation on capitol hill for a 60 billion bailout package and suppliers overall. Looking forward to that interview. Phil, before you go we talked about it earlier this week or last week. You dont know what day it is anymore. About the legal right of a state or governor to effectively say, no planes in and out of this state or not what does the law look like on that front it comes down to this most airports are owned by municipalities or states take ohare airport. If the mayor of chicago said, i dont want any planes coming in anymore. Do they own the property at ohare you bet they do. Do the grants come with stipulations that they need to keep the airport open . Yes. It becomes a legal question and would no doubt wind up in court. Faa and Trump Administration that would say, we are the ones who control air place. It is not up to cities or municipalities whether or not they want an airplane to land. Look at hawaii, they have said they will have a 14day quarantine for people flying in here that is essentially locking in the state. Who is going to fly out to hawaii so that they can sit for 14 days in quarantine. That is a concern a lot of airlines have with that their hand will be forced. Thank you, phil bringing in a veteran airline voice to join this conversation. Former Spirit Airline ceo. Also the cohost of airline confidents podcast with friend of the show mark kaplan. The big debate, dot airlines deserve. I dont know if thats the right word great to be with you. I think money at this point does make sense for the industry. Ill tell you why. The industry has invested in its people and planes. With no revenue and in some cases, net revenue because more cancellations than bookings, the ability to keep people employed and sol vent is not there. The reason they are looking for grants and loans is to protect workers, to pay employees during the time where there is virtually no revenue we are looking at 75 to 80 reduction in bookings. Without this, the industry would have to layoff people because they have to reduce costs without revenue coming in. The airlines may have made a mistake given that it appears the politics is that they are asking for Something Different than what everybody else is getting. When you think that the grant has Debt Forgiveness if they had been categorized like everybody else, i dont think there would be a debate on this thats a fair point i think it is a timing issue it will take longer. The grant is in place to make that happen. Specifically to protect workers and the industry has been open to any conditions around executive pay or no Share Buy Backs or things like that, that this money just goes to workers. The industry has already been talking about loans as well to Fund Operations during this time period the other thing that makes the industry different is the enormous Multiplier Effect of this industry. It drives the economy. An investment in transport in general is really an investment in getting the economy restarted. As you may know, i want to throw money at everything. I look at this as a Natural Disaster and everybody is a victim of the situation. The issue now is that the airlines is asking for a specific deal to them relative to every other deal in the country. Because of that, you have all sorts of people mostly on the left saying, you spent all this money on buy backs, you are being irresponsible. Facts are facts since 2010, the industry has invested almost 100 billion back into the product. Retired 90 million in debt. To talk about fiscal response in the industry is crazy when the industry has done a lot of good things do you believe taxpayers should get warrants or Something Else do you think shareholders should be completely protected if the goal is to have planes in the air . This is why it is more complicated, if they are not a part of the Larger Program than everybody. I think the airlines are different because of that multiplier and the enormous responsibility that goes along with them as well. Because of the way the airlines work and because they have people in every state across the country and buying product from american companies, not only the airlines but the equipment and all of that. And youd bailout the sha shareholders as well as you know, theyve taken a huge hit i dont think the market will benefit the airlines because of the money from the government. Stock investors will increase that multiple for the airlines, which is who investors want and producing positive cash flow again. I dont see Airline Equities increasing as a result of this delta is worth over 20 billion. It would be worth zero today if you didnt believe the government would step in zero theyd be worth zero except for the money they make through delta tech ops and their credit card you are right. Flying people today isnt a profitable business because people arent flying the question is, what is the right thing to do to keep people alive until we are out of this curve and people are flying and working again. Fair enough good to have you on today. Thank you starting tomorrow, every commercial casino in the United States will be shut down the closure means thousands will be laid off. Contessa brewer had a chance to speak to the companys ceo she