The yield down below. 6 last time i checked, it was at 0. 597 dr. Fauci saying the first human trial testing for a covid19 vaccine is now on track calling it the ultimate game changer but that public distribution is still 12 to 18 months away. President trump was asked if the stom pile of personal protective equipment was nearly depleted. We are sending it directly to hospitals. We dont want to take it before it gets there. We asked many states to do this. Many states have people or where they make clothing, we said see if you can get it directly from those manufacturers. The president considering halting flights to hot spots in the country, which would be a shift in this batter and also potentially have an impact on when and if the economy will return to some normal si in the meantime, total death numbers have topped 5,100. Confirmed cases have topped 200,000. In new york, topping 81,000 cases. In italy, the lowest daily death toll the new number of active cases declining. The hate head of the Higher Health insurance tut calling it only a dissent if containment issues continue the other side is making sure the curve doesnt start up again. Trying to balance when we come back to work and normal si and trying to avoid the curve reemerging will be the next new challenge. This is true. It will be interesting when Antibody Testing gets developed. Then youll be free and clear. Do you have a teleprompter . I do. I do. Did you add in there the if when and if we return to normal. This is a live ad libbing show i dont like that if. Get that if out of there when when, baby when i just heard that. I have to look down. Im not shy. I have to look down. We know joe, i have this ipad if you put that right under the camera, you can use that as your prompter there becky told me some stuff that could be done. After about two sentences, i was so lost, i said ill just look down im just grateful to be here today. What happened technical issues. And you know the technical genius i am not. It has been a rough morning but im here when you said that, becomy. I thought about at the top of the show saying. At least im here but i meant it in a different way these are crazy times. To combine the markets are scarey enough. The back drop of that is the health and wellness of your family every day, it is just nonstop. Im talking jobless claims the last report seeing a staggering 3. 3 million firsttime filers. Some of the street estimating as much as 5 million well see. Well bring you full analysis of that number as soon as it hits the tape. Getting now to mike. You are thinking of shiplap technically behind me in my other location was clabber shiplap is a better name did those people throw you out of that house . Where are you now . One step ahead of the law ill be in the office later. Im mobil at this point. I may make a return tomorrow to the studio. I think maybe it is time is 5 many ill million possible today now, the stunning number was the day the stock market put in that final flourish of the rebounding that will be the kind of things reflected in jobless claims right now. In a similar fashion, how long we are on this road that is impaired so much we are in the zone right now at 4. 4 . That doesnt tell you much about what the markets are reacting to this is the kind of market we are in because we have such an opaque outlook it is not because the market figured something out. It is like we went down 35 Straight Line in a month bounced almost 20 and then bounces 6 we are just flailing around trying to figure out if value has surfaced if you want to look at the credit market, it is still around there is leakage it gets the markets attention nobody is buying back stock. The real hot money would have been to try to catch the lows. They are still up a bunch. The sloppy weeks after the initial break and i said we tried for a retracement. What did we do exactly you probably had that number off the lows that barely got off to 38 . 38 of the decline was recaptured then it slipped back from there. On the rally, it slipped back. This is not a timed test necessarily. You can shap around and sort it out. Everyone is kind of clustered in the same Balance Sheet holding up with the necessity retailers, costco and walmart. That makes all the sense in the world, can you go to one of these and have an easy trade keep working and is there too much crowding in those areas do you have to have a little give up in those ways. Im afraid to look. Here is what i thought of this morning when i checked the s p and it was just below. After december 2018, i used to make fun of a lot of these guys that were looking to go back to 2,400. They know who they are it took the scariest thing to get these guys back to what they thought was going to happen normally here we are testing the place they thought we would go based on valuation saying well 2,500 is not the end of the world when we touch 2,200 last week, that was enough for now. I think that is [ applause ] ible and i think everyone is fixed on when, when and if we get back to normal we are running credit in reverse, talking about default yes, was the fiscal package enough the wear and tear of the market struggling with is it going to be a v or a ushaped recovery. Is that your backhanded way of saying those guys were right . No. It took a Global Pandemic to get these guys back. They were so wrong that you needed close to the end of the world to prove you were right. I like santolis jacket. So the people that are letting you stay there, you are impressing them . Yes right. Trying to maintain minimal standards. Joe, can you hear me. We got to talk about the blaze thing. We dont have a drycleaner anymore. I may start wearing a blazer to cover up the wrinkles. We also have to talk about hair cuts and hair color. People dont keep a lot of hair coloring in the house. This is going to prove it. If you start to see the sweater of the month or the blazer, it is more of a covering issue. You dont go to a cleaner ive been ironing you can see im not a good ironer i see it. Oh, my god. Not like you when we come back, well talk about struggling businesses that have been working to cut costs rapidly. It could mean another hit to retirement plans and the challenge to retailers as store traffic tumbled by 97 announcer todays big number, 38 . Thats how much the russell 2000 is down from its extended high dropping 7 . Shouldnt you pay less when you use less data . Now you can. Because Xfinity Mobile gives you more flexible data. You can choose to share data between lines, mix with unlimited, or switch it up at any time. All on the most reliable wireless network. Which means you can save money without compromising on coverage. Get more flexible data, the most reliable network, and more savings. Plus, get 300 off when you buy a new Samsung Galaxy s20 ultra. Thats simple. Easy. Awesome. Go to xfinitymobile. Com today. Government relief checks are beginning to roll off the presses and should soon be on the way. Part of the 2 trillion relief bill second mnuchin announcing that Social Security recipients wont have to file a tax return to receive the stimulus taxpayers can expect anywhere from 1,200 to 2,400. Those who have direct deposit attached to the last filing will receive their money that way so some good news there. Good to hear. Businesses hit hard by the coronavirus are looking for ways to cut expenses fast some are taking aim at the 401 k match. Sharon has more on this this morning. Good morning. Companies are looking at cutting a key benefit. That is the 401 k matching they are expecting more than 200,000 Small Business retirement plans are at risk for termination. Companies like amtrak, havertys, marriott are considering. They have about 2 million participants said last year, the dollar amount for the average krub bu contribution was over 3,500 it is important for workers to put enough money in to get that company match. If you can afford it, it may be time to make sure you do that. You never know when that money your company has been offering may disappear. I guess that is more important than ever. If you put in, say, the average 10,000 last year, if you can afford to, put it in when the markets are this much cheaper. Absolutely. If you can afford to match out the 401 k now is the time to do it you get an extra 6,500 catch up if you are 65 or older many people are looking at how to make get money out of the 4 0 1 k because they are struggling. You never know if this matching contribution for companies will go away. Thank you it is good to see you. You too be well. A lot of bucks floridas governor issuing a stay at home order showing you the spread of traveling spring breakers using actual cell phone data some images of the pandemics impact from yesterday across america. At t has connected us every day for over 100 years. And were here for you especially now, doing Everything Possible to keep you connected. Through the resilience of our network and people. We can keep learning, keep sharing, keep watching, and most of all, keep together. Its the job weve always done. It is the job we will always do. Wont be a new thing. And it wont be their First Experience with social distancing. Overcoming challenges is what defines the military community. Usaa has been standing with them, for nearly a hundred years. And well be here to serve for a hundred more. Welcome back floridas governor faces pressure for not implementing containment measures that changed yesterday when they issued a stayathome order. Weve been working on this. Southeast florida is operating on stricter measures now this is another 30day period. At this point, i think even though there is a lot of places in florida with very low infection rates, it makes sense for this move now. The governor also questions cruise ships seeking to dock one of those ships has sick passengers on it and even a death. Clearly, well be willing to accept any florians on board my understanding is that most of the passengers are foreign nationals. We have worked so hard to make sure we have adequate hospital space in case of a surge, we wouldnt want those beds to be taken. Two ships expected to reach waters near florida will happen this morning itsunclear whether they will allow passengers to disembark. In the meantime, the tweet attracted a lot of attention tracking the travel of spring breakers on a Florida Beach as they made their way home across the country shows you how this virus can spread thank you for being on with us today. First of all, what is tektonics. Sure. We are a visualization and platform meant for handling massive quantities of data we can take millions of points and tell unique stories of what the data shows why dont we show people this video of all the spring breakers on that beach in for tt lauderdale sure. We took a look at one particular beach in florida over spring break. We zoomed out and showed where all those people came from and where they went when spring break was over it is really compelling. I think people realize people travel to spring break and then home it is kpilicompelling of what Community Spread looks like. How did you even get this data we partner with a company that was gracious enough to give us access. They saw we were in a good position to be able to tell the story and underscore what these things look like how do they get access to that data . Does everybody Walking Around with a cell phone give off a signal that can be tracked sure. It is touching on the privacy aspect we understand more than anybody how important privacy is in this age. Er we only work with partners that have the option to opt out of the data collected. What other videos did you see and track there . For the new york video, it was pretty much the same the new york video was what does it look like when people from a huge city like new york start to move around the country. The baltimore video is great to show what social distancing looks like it starts with more of the moving restrictions and closures it stales down to after the governor closed the nonessential businesses you can see the harbor there go dark thank you for joining us today. Fascinating videos we appreciate your time. The challenge as store traffic plummeted 90 . Tune in tonight for a look at the path forward for individual Business Owners here in the United States. That starts at 7 00 p. M. Eastern. We head to a break and look at yesterdays s p 500 winners and loosers. vo quickbooks salutes those who work for themselves. Theyre adapting to support their communities. But many need our help. If youre a Small Business in need, or want to help a local business, go to quickbooks. Com smallbusinesshelp intuit quickbooks. Take a quick look at the futures this morning we lost nearly what is that, quadruple digits yesterday we are getting that back a little bit with the dow up an implied 330 points and some comments from President Trump on russia and crude there. That helps markets at this point. Andrew retail continues to get hit by the coronavirus a new report showing the total u. S. Retail traffic for the weekending march 27 was down a whoping 97 year over year plummeting across the board with macys getting kicked now out of the s p 500. Yesterdays report showing retail as one of the hardest hit sectors by coronavirus the economy is expecting another 3 million plus unemployment filings. A look now at whether the sector can overcome the chairman and ceo of sax. Great to have you on the program this morning e commerce may be holding up in some regard. I wonder if there is a forever step change when it comes to retails in the store this is a threat to retail. Youll have winners and losers it is hard to run a business for long periods of time with no revenue. 85 of volume is still done in a physical store that is my question one, does the liquidity crisis today become an issue tomorrow how long can they really go . It really depends on the condition of the retailer coming into this. Those running higher debt will have a harder time surviving if they are cutting costs, represent, labor they are not paying landlords, vendors are not getting paid those that are weak will have a harder time surviving this who do you put in that category i put Neiman Marcus in that category these had troubled Balance Sheets even before this. What you do have is the governor of ohio for example do an executive order encouraging landlords to forego rent and for troubled retailers to get through this a lot of companies will come out of this fine you cant survive this forever the real question is how do you get through this make sure you get through to the other side then it is, what is the model. When does it turn. Everybody is assuming that you are not going to get retails open until another eight weeks to open up and then it is what is the base of the recovery . A v, a u what is going to happen . Go ahead. There are so many economists that have this view that there will be so much pentup demand that it will get pulled forward or back. Do you think it is true or not given the other side which is unemployment piece we are in unchartered waters. If you look at the chinese experience, youll see stores are open but recovery will be slow brick and mortar will be down. Maybe it will be stronger. Weve never seen this before the question is how quickly people get back to work, stores open companies will have to think hard about how much do they buy for the Holiday Season they dont know the demand if you buy too little, it will be too much and running the risk of a massive am of excessive inventory. There is excess sitting there today that has to be cleared you need the landlords to help the retailers in terms of rent you need lenders to help the landlords. The consumer helped a lot. We need to get the dollar into peoples hands well get the unemployment number this morning. One out of four jobs in america are tied to retail how concerned are you about some of the work stoppages atom zon and else where where you have workers concerned about their own safety there on the front line getti s much of the items to the people. We are hearing real challenges to these companies how concerned should we be here . Im concerned for the people. Health care workers, anybody on the front line needs to be working in as safe an environment as possible. We needthe goods going im holed up in my apartment in miami and not going out much we need delivery of food, and packages we want to make sure everybody is as safe as possible i think it is our responsibility and the companys responsibility to make sure employees are as safe as they possibly could be making sure the ships dont have an issue it is a tough time everybody is facing right now steve, thank you for joining us stay safe and healthy, please. You do. Take care. When we come back, more on the latest market moves. Take a look at the futures declines of 4. 4 almost 1,000 points for the dow. That looks like the dow would open up about 330 points here. Well keep an eye on it. New details on the spread of the coronavirus with dr. Scott gottlieb you can watch us live or watch you can watch us live or watch any timetold hours of careful. On the sapp. Infinite what ifs . And contingency plans. Creating funds that help target gaps in client portfolios. Tap untapped potential. And strengthen confidence in you. Flexshares. Powered by over a century of investment expertise before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. Welcome back looking at futures after a down day yesterday, it looks like well open about 336 points higher, the nasdaq about 69 points higher. Dr. Fauci has become the face of the virus fight. They are stepping up his security new data on alcohol sales. Sales were up by 55 in the weekending march 21st. Wine sales were up 66 , beer sales up by 42 . Probably not all that surprising as people begin hoarding things. I did think it was interesting in new jersey, Liquor Stores are considered essential businesses. Those are the ones still open now too. Well, duh i think that is to keep people from uprising and make sure they do stay home slowly easing back to a little bit of sarkasim me too. Watching the press conference and there are times it seems to be a little therapeutic. There are times it does that but i have to shut it off. That. I meant the alcohol. I meant the press conference. Always. Coming up, well get an update from dr. Scott gottlieb talking about what it will take to get america back after this crisis announcer dont