To go through. Jackie deangelis on the floor of the new york stock exchange. Chad pergram has plenty of news on capitol hill well get to. First Hillary Vaughn live at white house. Hillary . Reporter connell, treasury secretary Steve Mnuchin says he wants to put cash in peoples hands, as part of a economic stimulus package tied to the coronavirus crisis. Meeting with senators on capitol hill asking for 200 billion for these Cash Payments would be a check or direct deposit, saying he wants to get cash into peoples hands in two weeks. I asked secretary mnuchin if theyre looking boosting the Restaurant Industry in addition to airlines as part of an Economic Relief package. Mnuchin says they will be rolling out special program that helps small and midsized businesses restaurants an franchisees will be a part of that. This is not like a normal economic situation. Government has requested that parts of this economy shut down and the president is determined, you can think of this as, Business Interruption money. The president is determined we will put money back into this economy to protect hard working with Small Businesses. Reporter President Trump meeting with the executives from marriott, disney, universal, mgm and best western. President trump was told they have seen their business fall by 90 . President of hilton said he has been in the industry 35 years around tells the president he has not seen anything like this before. Youre in many countries and how are you doing in many countries . If a few days or a week, well be running 10 to 15 occupancy. All over the world it is disaster . All over the world it is disaster. Not one part of the world that is not severely impacted. Reporter many ceos are telling the president they have to lay off tens of thousands of workers. They need Economic Relief to make sure the employees dont stay out of work as a result of this crisis. Connell hilton ceos comments put things in perspective. Thank you, hillary. More on how the Economic Relief package is playing on capitol hill and fox correspondent chad pergram joins us. What is going on, chad . Reporter treasury secretary Steve Mnuchin met with senators over lunch. He wants lawmakers to come to an accord quickly. Before we came on the air the treasury secretary spoke on the phone with House Speaker nancy pelosi for 25 minutes. Here is the problem, connell. The senate has not cleared two bills approved by the house of representatives. There was a big bill they approved in the wee hours of saturday morning. They had to do a technical fix bill. Sent them over to the senate yesterday. They are stuck. Of the Senate Majority leader Mitch Mcconnell is trying to pry those bills loose. Listen. Number of my members think there were considerable shortcomings in the house bill. My counsel to them is to gag and vote for it anyway even if they think it has some shortcomings and to address those shortcomings in the bill were in the process of crafting. Reporter mcconnell says the senate will not leave until they pass new bills and senate will move what he terms, quote, warp speed for the senate. He wants solution from republican senators divided into three teams to write the new bill quickly but the legislation has to have democratic buyin. You must get off votes in the senate to overcome a filibuster. People who are hurting for economic reasons that they have been laid off, theyre not getting paid, they cant work, because their kids are at home and cant work, this is job number one, targeted, bold, quick, strong, aid. Reporter now in consultations with nancy pelosi she wants to expand the scope of medical leave, help independent workers in the gig economy like uber drivers and also give special benefits to Health Care Workers and firstresponders. So if they get this piece of legislation this, new bill, through the senate, they hope maybe sometime later this week, they would then have to send everything back to the house of representatives but they ban to have complete universal dialin between both house and senate, democrats and republican so they can limit the amount of time members have to spend in washington. In fact they havent even had a full roll call vote in the senate so far this week because theyre trying social distancing. Theyre trying to keep members out of the Senate Chamber for prolonged periods of time. Mitch mcconnell may talk about scenario, go with the votes, bring them in smaller groups, so everybody doesnt have to be in the same room at same time. Connell they cant vote remotely. They have to be there fiscally to do it. Chad pergram on capitol hill. Melissa. Melissa the dow burning back after briefly dropping below 20,000 earlier. Jackie deangelis at the new york stock exchange. Wild ride today, jackie. Reporter good afternoon, melissa. That is right. We digged into negative territory. Slowly clawed our way back. We came back to almost session high with the dow is up to s p 500. Adding 6 , 143 points this was a sigh of relief after the massive day yesterday. We dipped negative, a lot of traders saying testing that negative level, dropping under 20,000 was exactly a test. Sometimes the markets will do that before they actually go to the levels and close there. It is something to think about as we continue to watch back and forth. Seems like we have the dramatic sweeps to the downside. Buyers come in. You get positive headlines coming out of the administration as we did today. Some of the confidence is restored. So headline driven that one headline that is can derail that confidence can be a problem. I want to draw your attention to the biotech stocks because they are seeing a little bit of a surge today. Moderna, regeneron, pfizer, these are all companies that are working on things related to the coronavirus and seeing positive developments there. They were up 11 , regeneron saw the gain today. Look at oil prices. Wow, 27 level, this is really dramatic. We havent seen oil down here since the United States really started producing a lot more with the shale boom years ago which took oil prices from over 100 to 25dollar level. I mean i almost cannot believe were back there as a result of this virus but concerns about demand do indeed have us there. The final point i will make, it was about retail and restaurants today. That tristate mandate you have to close a lot of these places down to takeout only, that seems to be spreading across the country. People like mcdonalds and wendys saying pick up and take out only. You will not be sitting down to dine. Retailers like macys nordstrom, saying temporarily were shutting our stores. Melissa absolutely, jackie, thank you. Connell we have someone to provide insight all of what we heard. Dan puts wall street and washington together as well as anybody. On the mnuchin comments today, trillion dollars plus in stimulus, but specifically on the idea of sending checks to americans, we dont know dan, how it will be structured, who is in, who is out, good idea and how should it be structured . From a Bigger Picture perspective stocks will be fighting against a very significant shock and awe campaign from fiscal and con mayor at this policy. These are huge numbers that are being thrown out there on the fiscal policy side. But to your point it is very important we get that right. What is in that fiscal policy package . Because one dollar of tax cut is not the same of one dollar rebate and not the same of one dollar of government spending. My understanding this will be 250 billiondollars of checks that will be sent to, what they call meanstested. So it will be income limited, on who will receive the check f it continues to last, it will be another 250 billion comes after that from the kind of refund side. Connell any idea where the income cutoff will be or should be from what youre hearing . First smart for the administration not to put the number out. Why dont you let Congress Figure that out next couple days. The details will have to be hashed out. Here is a big issue, what i would urge the administration to think bigger on. You cannot quarantine up 40 or 50 of the population. Their Consumer Confidence is also declining. Their Stocks Holdings are also declined. We want to make sure everybody is participating in that. That income limit should be as generous as it could be. When we come out of this, well need to rip roar the economy. Only way to really do that, to have everybody involved. Connell somebody suggested you give it to everybody, dan. You have a big Public Program or get out, use bully pulpit, if you have the means to give this money away do that try to increase charitable giving, right . Absolutely. Not everybody will need this. 95 of americans will come out with a job and Consumer Confidence is declining in nightly numbers. One you deliver broad tax cut to american workers. Create a Small Business facility for owners to deal with layoffs. Targeted industry to those that most need help, industries, im talking about one or two at most. Fourth you will have to come around to say what we need to do with the safety net . Something chad talking about in the introduction of this segment. Unemployment insurance and food stamps. Third, larger you have to get the Health Policy response right. If you get that the markets will be able to start finding a bottom at some point and be able to discount that were probably still couple weeks away from it. Connell couple weeks away. There is no way, as we hear about fedex no way to have visibility. That is the problem. Dan, thank you for perspective. Melissa has the news. Melissa fox news alert. Fedex reporting Third Quarter results. Go to Jackie Deangelis with the number. What i see they will pull back on forecasting, is that right . Reporter theyre suspending the 2020 out look as a result of the coronavirus but the stock is trading up in the afterhours, for the Third Quarter it was beat on revenues, 17. 5 billion. The earnings came in line with the estimates, 1. 41. A lot of businesses right now are tentative. Theyre worried about volumes. Theyre also worried about employee, staff, how they will have to manage their business as a result of this virus. It caused so much uncertainty. Weve seen other Companies Come out to say that too. Look, things are pretty good right now. But at the same time we dont know what will happen. So that is echoing that sentiment right now. Melissa . Melissa jackie, thank you for that. Lets bring in todays market panel. Gary kaltbaum, kaltbaum Asset ManagementFox News Contributor and jason rotman from everplus capital. Jason, start with you. Fedex cant see into the future, they dont know what will happen. At the same time you saw the stock pop. Fed exwill benefit no matter how you slice it. Everybody is going, if you need something you will get it shipped. Not likely to go get it in so many cities later on you cant go in and get anything. What are your thoughts . In addition, fedex, melissa, i calling safe stocks and industries, new market. Delivery companies, fedex, healthy food conglomerates, people share characteristics focus on what they need, versus what they want. If we have time we can talk about some of those companies. Fedex will benefit from this unfortunate situation. Melissa big picture, gary, talking about the announcements made today, that Credit Facility from the fed. That is the thing you heard kevin warsh from the Federal Reserve board campaigning for that in the wall street journal yesterday. Now we hear a response that there will be a Credit Facility, where Small Businesses can go, meet your payroll, meet your rent. I was talking to a Small Business owner today, she was saying she doesnt know how she would do either of those things, hadnt heard about this yet. They need to get the word out. When people come back out of the houses you want something to be there. 30 million Small Businesses in this country, melissa, makes up 99 of all businesses. Hive been speaking to a lot of them week. I cant begin to tell you how worried and scared they are. Not only businesses have the business drop off the ledge, they cant plan for the future. That is big and small going forward. So yeah, this is necessity. You know, when the president or anybody has these pressers, first thing they should start with here is the number or the website to call if you are a Small Business and you qualify. This is a must. Small businesses are the engine of this country. I know we talk about all these big businesses but i got to tell you, aunt mary and uncle bob on the corner will need some help, i can promise you that. Melissa you are 100 right. That is the very next thing needs to happen. They need to say here is the phone number. , here is the email, here is the website, figure it out. We are here to help. Gary, jason, thank you to both of you. Connell more than 5700 cases around the country as the coronavirus outbreaks spreads. 49 states, new york, washington state, top the list of most confirmed cases. We have the latest developments on the pandemic as we continue through the hour. Melissa plus the nations first hospital dedicated solely to coronavirus . But some state leaders are still sounding the alarm on hospitals being unprepared. Connell macys joining a growing list of Retailers Closing Stores nationwide, to help try to curb the spread of the virus. The move goes into effect at the end of business day today. Includes bloomingdale locations. More on the impact on business and how consumers can pitch in to try to help across the u. S. Well be back. Do you recall, not long ago we would walk on the sidewalk all around the wind blows we would only hold on to let go blow a kiss into the sun we need someone to lean on blow a kiss into the sun all we needed somebody to lean on all we need is someone to lean on to absorb whatever is going to come its way. Epared were always preparing. Make sure that the network is working. All the time. We are constantly looking at it, were constantly monitoring it, take that responsibility very seriously. The most rewarding thing about the work we do is whenever we see a customer able to communicate back to their loved ones. That is why we do what we do. Were relentlessly committed to the network. So in times like this, america can stay connected to work, school, and most importantly, to each other. Can you help keep these iguys protected online . . Easy, connect to the xfi gateway. What about internet speeds that keep up with my gaming . Lets hook you up with the Fastest Internet from xfinity. What about wireless data options for the family . Of course, you can customize and save. Can you save me from this conversation . That we cant do, but come in and see what we can do. Were here to make life simple. Easy. Awesome. Ask. Shop. Discover. At your local xfinity store today. Melissa hunkering down in isolation, new york city mayor bill de blasio warning new yorkers earlier this morning to prepare for a quote, shelterinplace order, that he said could come in the next 48 hours. But Governor Andrew Cuomo said, new yorkers could see the number of cases peak in 45 days but he is the only one who has the authority to quarantine a city. A city cant do that for themselves. He didnt is h see that happening anytime soon. There is a battle going on there. New york city councilman steven levin is calling for a new york city shutdown joins us now. What do you think of the back and forth. Thanks so much for having me. So, i think the data is actually incontrovertible. We have multiple models running, all backed up by what weve seen elsewhere around the world, whether that is china, italy, whether that is spain, that we have to shut down and shelter in place right now. Should really be giving new yorkers maybe, 12 to 24 hours to get their stuff in order but melissa can i ask you, did you hear what the governors response to that was . No i did not. Melissa unless everybody does it, it doesnt help because everybody will get on the road, they will go stay with their cousin in queens because they dont want to shelter in place or whatever it is. So he said unless we do it in a uniform manner, he is not saying that it is not the right thing to do. Kind of like closing schools. Tough look what is the problem that will bubble up as a result of us doing this. Yeah. Melissa that was his argument, we have got to do it together. What do you think . Point, the point with covid19 it increases on a exponential chart and so every day actually matters in this fight. We could have done things a week ago that are would be totally useless now. We could have done things five days ago or four days ago that would be totally useless right now because it increases on that exponential chart. Every interval it doubles. So, just to get a little bit wonky here, what we see basically is the number of cases are going to increase by a factor of two roughly every fourdays, okay . So if right now, as just reported melissa we got the math. It is a math channel. Were with you, we believe you. So lets look at the math by, were talking in three weeks likely to be close to a million cases in the United States. Melissa but what you do about the fact that if you dont do it everywhere it wont work . Should the president to tell everybody shelter in place . Should go state by state n case of Something Like new york, you have urban centers. Probably more impactful to shelter in place. If youre in a rural environment, you kind of naturally dont have a