Well shortly be determined. People want to go big as opposed, everybody seems to want to go big. They want to get to the recovery. The big thing we can do is get rid of this horrible, i call it the unseen. It snuck up on us. Cheryl with these roller coaster rides on wall street is there any good news . Charles payne, yes, that Charles Payne, will join us in 15 minutes with his perspective on the market action. He has great points to make. All that and more coming up on making money. Cheryl lets start with the stop story. A short time ago, that happened when the s p drops buy low 7 . But the administration is trying to calm, not only nervous investors but folks across the country staying inside of their homes to stop the spread of the coronavirus. We have blake burman at the white house where President TrumpJust Announced he is sending two hospital ships to new york and california. Blake, you were able to get some questions to the president today. Reporter cheryl, weve been getting an idea what this Economic Relief package, bailout, what you might want to call it, would look like. Treasury secretary Steve Mnuchin said it would be a trillion dollars on top of some 300 billion already been talked about. Now we have a sense how that trillion might be cut up. Were told that the Treasury Department is considering the following options. It would be 50 billion for airlines. 150 billion for loan guaranties, for critical sectors of the economy. Some 250 billion in direct payments to individuals. The first batch coming on april 6th. A second batch coming about six weeks after that, on may 18th. So 500 billion in total. Then as it relates to Small Businesses, some 300 billion in loan guaranties. I am told though, as you can see the numbers are big, they are round. It adds up to exactly trillion dollars. Some of this is still fluid. That theyre still working through it. But i asked the president as i ticked off the items in the Briefing Room a little while ago, if that sounds right, if that is something he stand behind. This is his response. Were playing with a lot of numbers a lot of very big numbers and small numbers frankly. We have to help everybody. It was nobodys fault. This happened. We want to keep the companys vibrant. There will be a comeback very quickly as soon as it will be solved. It will be solved. We will win. Reporter earlier today President Trump held a call with members of the business roundtable, some of the biggest executives in the country. On the call, tim cook, mary barra, et cetera. They are giving ideas what the stimulus should look like. They endorse the direct payments. Direct payments to americans who need them the most. That is where they say this should be going. Separately on top of all of that, set that trillion dollars to the side for a second. The administration is also calling on congress to enact another supplemental spending request to the tune of 45. 8 billion. The overwhelming majority of that going to four different agencies, veterans affairs, health and human services, Defense Department and department of the homeland security. The reason why you see the Defense Department, the president invoked the defense production act in case he says the country needs it that would call for production or ramp up production of things like masks and ventilators. Cheryl things desperately needed. President will speak with nurses as well. There is a nursing shortage, blake. Blake burman at the white house. Thank you for that live report. Trading was halted for the fourth time in two weeks today as the s p level one Circuit Breaker was triggered. That happened just before one p. M. Eastern time. The Dow Jones Industrial average now erased all of its gains since President Trump took office. Another big story though . Were following oil sharply down, hitting lowest level, since get this, march of 2002. All of that on fears of a global recession which could be at our doorstep right now. Lets bring in commentary kaltbaum Capital Management president fox news contribute to, Gary Kaltbaum and Heritage Capital paul schatz. Great to have you here on such a day. Good afternoon. Cheryl gary k. , i start with you, these markets are messy, theyre ugly, we have been here before. Where are they at in your opinion . There is really no edge here because you really dont know hour from hour. I must tell you the one thing really hit me yesterday when the hilton and marriott ceo came out and gave out the numbers, then i knew this is a lot worse than the worst anybody thought. And at this juncture, it is anybodys bet. Were in limbo. The movie, the day the earth stood still, brought aliens in to stop the world. We have a virus stopped everybody from doing anything both here and around the globe. I must say the virus is the economies around the globe. Until the the dynamic changes. The word fear builds on itself. You see people buying on a daily basis. You see what is in the shelves. As far as markets, i dont know the next hour from the next hour, from the next hour to tomorrows open. I take a step back and just be a spectator. I do know when this is over, this will be one of the greatest buying opportunities of this century. I dont know eventually is or what price it comes from. Cheryl paul a lot of analysts, market commentators talking about second hatch of the year. This isnt 2008 to be clear, lets repeat, not 2008. The banks are so havent. The economy was doing strong. We had record employment going into this crisis. At the same time you had this really intense snap down for the markets. That tells me it will be a very intense snapback maybe in the second hatch of the year. So couple of things on that. Number one is, there is certainly speculation open are we going to have as you said a snapback like the shape of a v, sharp down, sharp up, the shape of a u, where the bottom is a little more rounded or as some of the doom and gloomers have suggested, it is a hockey stick bottom with some new paradigm. In five weeks youve gone from seriously among the most euphoric times in history this is a combination, social moodwise, it is 9 11 on steroids and, marketwise it is a combination of 08 and 1987 where you clearly got people pressing buttons. Get me out at any price. But, crises are never repeated in sequence. This is not a banking crisis like 2008. The banks are overcapitalized. They have plenty of my n this is hitting at kind of fabric of our new economy, were a consumer driven economy so at some point i fully agree there will be so much pentup demand it will be unleashed but, it is what we dont know that is scaring we dont know what we dont know and theres, and theres so matches hess tear yaw, fear and panic. Let me just say i think were going to have an elevator down, elevator up type move, the day they announce a vaccine or the day they announce that this virus is kicked in the rear end. I dont think you ever stop people of this country or around the world from doing the things they want to do, that striving for better and higher on a daily basis, and i dont think that dynamic will ever change but you got to get past this. There is fear of dying right now, whether that should be or not, even though the numbers dont say, what is it, 1 at most on the whole, mostly in adults though were hearing a little bit more on young people. So i am highly confident we go straight back up to a certain extent. Just a matter of getting there and i dont know what date that is. Cheryl gary k. , before you go, that is when people talk bpstudent. Well have Charles Payne coming up in a few moments. He will talk about the opportunities he is seeing but that tells me if youre a a longterm bull on this market, long term, not trying to trade the numbers now, most of our viewers arent, they are in this for the long haul, you take a step back and take a breath, let all of this fall by the wayside and go about your day. Problem is, and youre right, you want to always look over the long term. People are not living over the long term, theyre living second to second, minute to minute, hourtohour. People are worried they will not have money to put on their table. They will not have money to pay their rent. That is spreading across the country. To garys point, i somewhat agree. I think markets bottom long before the news gets better. Markets will bottom because there will be a dearth of sellers. As the news continues to be worse, we will no longer go down. That will be kind of the seminal change of the markets, accepting, saying we understand where we are in the crisis of the eventually markets go up on bad news. Then we know we are at some point towards the end but it is short term that is really gripping eninvestors. People dont know if theyre coming or going. When you see treasury bonds, gold, stocks all go down at the same time, people are running for where do i put anything right now . Certainly your mattress is not the best place for your money. Cheryl certainly not. Theyre telling clients, dont do anything right now this is the worst time to make panic decisions. Stay your course. Charles will talk about that in a few moments. Gary, paul, thanks for being here, giving us per speck stiff. Thank you, chairman. Cheryl well see you in a little bit. Bulls bears will be tonight 5 00 p. M. Eastern time right here on fox business. Obviously a lot of market coverage throughout the day on fox business for you. Were also following the Auto Industry right now, they are the latest victim of the outbreak with retailers and grocers. Automakers agreed to close all the factories. Ford and gm confirming to fox business just moments ago, these closures. Grady trimble is live at a Ford Assembly plant in chicago with all the latest breaking details. I guess, grady, we somewhat expected the news to cross at some point. Reporter yeah. It was only a matter of time, still a bit of a surprise because uaw officials met with the big three detroit automaker ceos last night, the conclusion was not to shut town factories entirely. Now that seems to be not happening. They are shutting down factories entirely. We have it confirmed from ford and gm. They are closing all factories in north america that include here in the United States as well as canada and mexico through march 30th. After that, i guess, they will go through the cleaning process and then they will take it from there. But this was, as you said, sort of something that was inevitable. Here at this ford facility here in chicago it is already closed today because they were experiencing a parts shortage related to the coronavirus. In terms of fiat chrysler, we havent gotten official confirmation from them they will be doing the same but a source in detroit tells me they will make announcement shortly and it will be in line with what ford and General Motors are doing. Ford, the president of north america in making this announcement says this, quote in these unprecedented sometimes were exploring situations to help our customers, workforce, suppliers and communities. He said it there, these are unprecedented teams. In terms of what this means for the companies, they are going to take millions and millions of dollars of hits. Most recent work stoppage we look at is the General Motors strike. Gm took a 3. 6 billion hit from the strike. That was a 60day stoppage. This is much shorter. Were talking about all three of the largest auto makers in the United States going through this. In terms of the employees, were still trying to figure out whether they will be paid, how they will be paid while not working. General motors telling me minutes ago, employees will be compensated but theyre still working with United Auto Workers union to figure out how that will happen. A lot of news breaking here at this assembly plant, at plants across the United States and across north America Today as these stoppages will go into effect. For ford, thursday evening, and for gm it, will be staggered over the next couple of days. Cheryl . Cheryl grady, please come back if you get anymore breaking details from the plant there. I know this is evolving story. Grady, thank you very much. Lets get back to our markets now, joining us from his home, Charles Payne to give us assessment what is happening with the stock market. So good to see you, charles. You know what . You and i were talking on friday afternoon in the hallway about the markets and how were covering it, how the viewers are feeling and we talked about opportunity. Yeah. You know, cheryl, can you hear me . Cheryl yes, i can. First of all great to be talking to you. You know, and i think investors kind of sense that as well, and this is the theme i had on the show for the last three three or weeks. From wall streets perspective they want to see the individual investor crack, crumble, go beyond capitulation and then they will pick up the pieces. I have to be honest with you everyone involved in the market now has to be on interhooks i believe. Great conversation with paul and gary. They both made fan mastic points. Every one agrees this is generational rally f you miss i had it in march of 2009, kind of kicked yourself for 10 years, be ready this time around. I think it will be two parts, cheryl. I think a lot of things will initially rebound. Some things will look great. You look one day, Carnival Cruise line will be up 20 in one session. Those are not the names people should be looking for. I think you should look for these names that will clearly be winners in the new economy and were living part of that new economy now, that weve been boasting about that. Weve been talking it will be here one day, where we have the work life balance, more people will work from home. Well have fewer cars on the road. It is interesting, this is what weve been told was utopia. It certainly doesnt feel like it. Look at cloud names, Software Names that dont need parts from china. Well look at some of the names becoming key components much our daily lives. Even today, some of the winners. Walmart at alltime high. We have amazon was up today. Costco, target, was up today. Teladoc is up. Again being able to work from home and speak to, either your office or your customers. Thats the new world. Those are names that will bounce sharply but continue to climb long after this is over. Cheryl charles, again, straight to see you. Well check back in with you a little bit. When we come back, we talk about the possibility much bailouts. I know you have a strong opinion about that. You were going to explain that to us in a few moments. Charles payne joining us from his home. Well talk about another thing were seeing across america. Youre already seeing it yourself. Young, healthy americans offering their hand in support for their elderly neighbors amid the covid19 pandemic this is happening across the u. S. Of a. This is who we are, jackie deangelis, hello. Reporter good afternoon, cheryl. There are Silver Linings in terms of humanity. People helping people in the midst of this crisis with so much uncertain i out there. The cdc said if youre over 65, if you live in a retirement community, youre more at risk. These are the populations that should be isolated now. Meals on wheels is trying to serve them as best as possible even though the logistics have become more complicated. Ceo of meals on wheels in Staten Island told us they do two meals a day to 1200 people. The average age theyre looking at is around 8. Referral requests, increased demand is coming in as were certainly personning. More demand, higher costs. They cant exactly work from home. People have to come in, they have to prepare the food. They have to be sent out for delivery. There is a mix of people helping. Young people as you mentioned, but also some seniors who are still themselves very active trying to get out there to give a little bit back. Food supply is a concern, something theyre watching closely. Also the health of their volunteers important too. But theyre delivering meals doortodoor, establishing these new procedures. Listen to what the ceo told me. Theyre going to the door of the recipients, putting it on the door handle, knocking on door, ringing bell, stepping back six to 10 feet, so the recipient receives the meal, then asking the question, we havent had to ask before in the past, asking the question, are you showing any symptoms . Reporter cheryl, unprecedented times. All kind of new questions. Meals on wheels doing what they can. Cheryl so many groups trying to pair folks with elderly folks that do need help. It is what makes country so strong. Jackie, thank you very much. Well get through this. It has been a rough ride today. Were here before. Weve been here today. Stocks are tumbling. Charles was talking about it. Walmart hit a alltime high today. Lets bring in Kristina Partsinevelos from the new york stock exchange, get more frankly what is a little bit of a silver lining, kristina. Kristina i will get to walmart and sense on the floor. It is a little quiet with less traders here today. We had fourth halt. Markets halted 15 minutes this happened before 1 00 p. M. Eastern time t was anticipated given the drop we saw especially during the president s press conference. But the trend seems to be, youre seeing stocks, bonds, commodities all sell off simultaneously, exact same time there is a shift or hunt for liquidity to raise cash that could be why were starting to see, for example, the 10year yield climb higher, as people move away from safety bets like government bonds. They move away from safety bets like gold. That could be contributing to some sell off. Look at huge 8. 4 basis increase for the 10year. Gold trending lower, over 2 1 2 lower. Talk about oil for a second. This will have negative repercussions for some time to come, given, i didnt want it to be at this level but at 20. 53 a barrel. A industry analyst, wellknown in the industry, if it hits 20. 24 could wipe out profitability of domestic producers here in the United States. These ar