Casino, those are the biggest gainers today. But fears over the virus remain as cases in the u. S. , italy and around the world move higher though the president says he would love to have to country open by easter we are up 1700 points on the dow. Nice for a change. We have a huge lineup of guests coming up. The ceo of cvs health will tell us about the companys hiring spree and Virus Testing plans. Campbells ceo will join us to talk about the supply chain and well discuss the administrations actions thus far with mark short, chief of start to the Vice President. Lets focus in on two of the big stories, kayla has the latest. But first, mike is tracking todays market rally mike, over to you. By the looks of it, its a sturdy rally well scrutinize to see if theres more than anything but a bounce it tells you a couple of things. One is a strong bounce is it doesnt look that dramatic next to the decline on just experience really just a step in that direction of trying to make some distance between the index and the recent lows, but were also back to kind of con tentding with some of these familiar levels we were talking about for weeks such as the december 2018 low. Were now above it in terms of the intraday low back then so weve kind of spent the last week or so trying to figure out the deacceleration in the downside was meaningful. Thats i think where were at. Now take a look at some of the sub sectors of the market. The more aggressive kind of risk seeking areas of o the market have been outperforming the s p for days now, not just today if you look at the high data, more aggressive stock segment of the s p. Thats been lead iing the lusz 000 led for a couple of days i think the tone is somewhere in the zone of what youd like to see, but its h hard to extram late because the strongest rallies to tend to happen in bear phases so you cant say until we get two days of rally, which we havent had for over a month that this is anything, but i think its checking off some of the boxes yeah, and energy and industrials might be the best performing sectors today which kind of speaks to that risk on high beta sectors leading the chart. I guess the other factor today, mike, to point to, is the on going sense that some of the technical Financial Issues that market was having last week seem to have settled down further again today. Whether thats a little bit of a softer dollar or more importantly, less stress in the credit markets particularly in the Investment Grade, i was speaking to one bond trader who said this is the best environment weve seen for weeks in Investment Grade. Hasnt quite reached the junk end yet, but i guess Market Participants can hope that can continue to follow and equities are moving in line with that improvement in credit. For sure. The feds action, many of them this week and last, were really aimed at that market function. Basically headache iing making r you have seemless trading that you can get these liquidity air pockets that freeze up and tighten financial conditions and basically make a problem worse they would been an exacerbating factor on whats going on in the economy and the market needs to function while it wait to see if the economy can come back. Thats part of the equation has been helped. All right mike, see you in a bit meantime in washington, lawmakers continue to negotiate that massive stimulus bill as President Trump holds a call with some big name investors kayla joins us with more what is the update, kayla . Sara, i just got off the phone with the Senior Administration official who said this point, theyre hopeful to have an agreement or solid agreement between all parties involved by the end of today around sunset is what this official said. Now there are still several issues to be hammered out im told one of those is the size and the features of this main Street Lending facility from the Federal Reserve thats going to stand as a compliment to the loans coming out of the Small Business administration. There are details about who will qualify for the loans and what the exact size of the package is that are being worked out then once some of these sticking points are finalized, then negotiators will have to go through every piece of this deal text to make sure that everything checks out the way that they all want it to so it is unlikely from that estimation that we are going to have a vote tonight although in washington, we know that anything can hachl bppen, but a right now, it doesnt feel like thats the case. As far as the american economy, the white house is canvassing major investors to get their take to find out where things stand in the equity and debt markets and what the Federal Reserve and government can do to keep things humming along and moving smoothly. With discussion with white house convened today featured President Trump, Vice President pence and these individuals from wall street. Dan lobe from third point. Steve schwartzman from blackstone robert smith from vista equity jeff spreker from ice and the New York Stock Exchange as well as paul tuesday r jones what the Federal Reserve can do to stop some margin calls and when exactly the economy would be right for reopening. President trump said earlier today that he is targeting april 12th easter for a date that he would like to date for the economy to reopen he told these individuals that it cant be shut for six months although he knows it cant reopen tomorrow. I was just wonderfing how tht sort of new posture from the president is going down in washington with other lawmakers. Certainly here in new york, Governor Cuomo did not sound like you know, he was on board with that idea about reopening the economy. In new york, at least, its all about saving lives, trying to get more hospital beds and ventilators. How are other people reacting to this its a delicate dance to walk, sara i think there are a lot of officials who acknowledge the detriments to peoples psyche and the economy would only worsen the longer that people are in ice laigs President Trump has mentioned this, too. And Governor Cuomo himself said he wants to try to find a solution where you can both protect the Public Health but also get the economy running again. Today, he suggested a potential solution where you would see young people who have had the coronavirus who are positive for the antibodies who have recovered, that they start going back to work to start getting these businesses back up and running again although that would require enough of a Critical Mass of people to have had the coronavirus to then go back and work. I would also mention this april 12th date the president has floated. That runs right up against this deadline that andrew cuomo is suggesting could be the apex of when new yorks cases would hit their highest point. So well see if thats a realistic target or goal to have in place, but certainly its one the markets will be watching closely now. Kayla, thank you. With the dow up 9. 5 , the imf out today forecasting a recession this year at least as bad as during the financial crisis imf chief economist joining us now by phone how did you make an economic prediction with so many and what the disease looks like and its a long in the which is not something for the economy to do. So i think we can based on what weather seen in terms of data coming out of china based on working days and when the economy goes into shutdown this points to it going below zero this year and you know, it could be worse than the Global Financial crisis when are you factoring in when you x pecht economies to get back up and working again because clearly the debate, easter, april 12th not too far away if that happens, would you be changing your forecast for growth with a more optimistic outlook . Our forecast depends on several factor, one of which is length of containment measures the country would be, an estimation of how long this is going to be. Were thinking this economy will be het hit for about a quarter at different points in the year but then if containment measures actually turn out to be effective a as one is hoping, if there are advancements in the medical field but there we should expect to see 2021 be a year when growth goes above trend. But again as we saw, there are a lot there. But you know, the containment is very important. What kind of damage are you looking for in the United States at this point as far as unemployment numbers and gdp declines what we expect in the Second Quarter will be really bad and going to be a tough month. I would expect the u. S. And the area to be in a recession this year based op whats going to happen in this next quarter but again, this is the crisis where its, there is a bigger response and we have seen a lot of this. Much bigger than the Global Financial crisis things could look much better in 2021 a piece of certainty has to do with an emerging developing economy in china at this point, but a big start for epidemic and measures they would have to incur and the stresses they would have to face and would come on with prices x exclouded. There are many factors here, but it should remain here, so some of these economy, it maight tak much longer to come out of this than some of the larger economies. Thank you for joining us on your call today from the imf thank you we are higher by 1800 points on the dow close to 10 with just under 15 minutes left in the session. Coming up, cvs announcing a massive hiring spree. Well speak with that companys ceo about the moves theyre taking to tackle the virus and later, new york Governor Cuomo says no one should be talking about social darwinism for the sake of the stock market well discuss that debate on when to restart the economy with the chief of staff of Vice President , mike pence. Back in a couple of minutes. Dont get mad. Get e trade, dawg. With about 44 minutes left to go, the dow industrials up 1800 points. Almost 10 this is going to rank right up there if not the all time point move s p up 187 with more than 8 nasdaq up seven and a quarter. Individual Market Movers chevron soaring after announcing it will cut Capital Spending plans for 20 for the year and suspend its Buyback Program in a move to cut costs. The ceo also said the company would not cut its dividend shares of General Motors surging, announcing plans to draw down 16 billion in credit as a way to preserve financial credibility. Also suspended its 2020 outlook because of the coronavirus outbreak the stock is now about 18 higher but thats on a low number, 20. 87 sara cvs is launch test centers for First Responders and say in it will hire 50,000 new workers and provide benefits and bonuses to employees thank you, larry, r for phoning in first on the test centers, are they up and running . Where are they and who can get access we opened our first test center last thursday in mass and weve gotten a tremendous number of learning as a result of that. It is prioritizing our Health Care Workers and First Responders we can do about 100 to 110 tests a day and the tests are actually booked almost through the end of this week. One of the things weve learned, we can get one drive through lane operational and the learning is if we can take that concept to the parking lot of a closed school, we could probably get two, three, four drive through lanes and get as many as four to five tests done a day. So those are the discussions were having with state and local officials about where we go from where we are today so how quickly can you get this really going upscale across the country . You know how important it is to test people to see whos at risk and who has immunity. And look, this is a great example of Public Private partnerships and there are others that have joined us in this effort. Target, walmart, walgreens, rite aid and were working together as an sfindustry to make testing more available and thats being done at a local level. One of the steps is the availability of protective gear for those tharmaning those sites and thats something were working through. What about workers, larry have you got enough and are you finding enough available well, i could not be more proud of the work that our cvs Health Employees are doing how theyre responding to this Health Crisis from our front store employees to Health Care Professionals. Theres a strong purpose in our colleagues wanting to play a role in helping their communities manage through this. And they are doing yeomans job across the country and you know, our announcement earlier this week of 50,000 hires, some of that is reflecting some you know open requisitions that we have, but some of it is also responding to you know, the needs of our stores in terms of supporting our front lines in terms of the terrific work theyre doing. What are you seeing youre giving bonuses to front line employees its wonderful youre doing that is that to compensate them for the risks theyre taking theres a number of things that we began to do a few weeks back when you know the virus came upon us that you know the first thing in following the cdc guidelines was to ensure we were following the quarantine properly for 14 days and ensuringing that people who were quarantined continued to get paid and what we heard from our colleagues, especially for those that needed to work on site, we have about 80,000 colleagues working remotely at this time and that is going extremely well, but for those who need to be in the stores or perhaps you know in some of our region alpha silties supporting our stores, one of the things we heard as Day Care Centers close, how can you help, support me with that. Weve rolled out a program to provide day care support you know one of the things were emphasizing to all of our employees if you dont feel well for any reason, stay at home b and we wanted to take off the table you know the question of well, i feel okay. And you know, i got a little sniffle. Stay home. And not you know, have to deal with this issue of well, my paycheck versus you know staying home so we introduced for our part time employees a more flexible sick pay program that allows them to make that decision and the your point, we announced the Bonus Program and its really to reflect the extraordinary efforts that theyre doing taking care of customers all across the country. How much of your pharmacy business has moved online and how should investors think about the margin business there . Some of the things weve done for our customers is weve waived delivery charges for Home Delivery of prescriptions and other Health Related items we have seen nearly a 300 increase in Home Delivery being utilized and it gives consumers the peace of mind of not having to leave the security and comfort of their home to get their needed prescription refills and sara, you think about the fact today we got twothirds of the country that has one or more chronic disea diseases hyper tension, cardiovascular, diabetes, more times than not, the management and treatment of those conditions is accompanied by prescription therapy. We need to make sure that those individuals are staying adherent to their Prescription Medications and this is a key way in which thats being done weve also done things in terms of increasing access to care by waiving telemedicine fees, encouraging folks to utilize that service and we talked about covid19 testing in our insurance business, you know we are working with providers and hospitals to you know expedite transitions in care that are you know freeing up those important hospital beds in the, in the highly impacted areas. Yeah, wanted to ask about aetna and how youre managing aetna for what everyone is expecting to be a surge in unemployment and how thats going to affect your business. Well, sara, i think were anxiously awaiting the decisions coming out of washington, d. C. And i know the you know, the stability of the Insurance Market and the ability for you know employees to be able to maintain their Health Insurance is critically important and you know, we hope to see payroll credit for premium sup ubsidies especially for small bz with businesses and cobra subsidies for those that may lose their job and the importance of them continuing to have access to Health Insurance so well see what comes out of d. C. And finally, i mean you have such a good viewpoint of the whole Health Care System what do you make of the u. S. Response so far and where should we be focusing on . Well, you know, as i mentioned earlier, the tackling this crisis is not about politics and not about competition. Its about people working together whether its you know the Public Private partnerships that have e emerged that are making a difference ive been on several Conference Calls over the last two weeks with competitors and you know in these Conference Calls, were not competitors. Were an industry working hard to do the right thing for americans all across the country. Were sharing what were learning were sharing best practices and as a result, were doing great things to