With the hopes of going ahead. The Federal Reserve move made a turnaround. That led to selloff yesterday. Dow industrials down 582 points, nasdaq down 18 and s p lower by 67. Reports that u. S. Airlines are looking into voluntary shut down of passenger flights across the country this morning. We will take about it. Ceo of boeing David Calhoun joined me later this morning on asking for bailout, suspending dividend and foregoing his own pay and shuts down. Im going to have a report for you jpmorgan says theres a trillion dollars wait to go flow waiting to flow into stocks. President Boris Johnson putting people in lockdown and banning meetings of more than 2 people. Take a look at asian markets here. South korea doubling coronavirus package. Kospi index off 8 and a half percent overnight. More bad news on the chinese economy to report. Latest survey from china warning economy could shrink to 10 to 11 . Thats just the First Quarter for china. Take a look at 10year treasury rise and setting up 2 and a half basis points. Oil on the rise this morning well below 30dollar level, however, price war between the saudis and russians, no signs of easing there. Nonetheless dollar prices up 1. 37, 24. 84 on the price of oil. Residents in at least 16 states across the country this morning are under a stay at home order or advisory. This coming after President Trump and Vice President mike pence led the Coronavirus Briefing giving americans on when they can cautiously resume work. We cannot let the cure be worse than the problem itself. The president s recommendation of 15 days for people to stay home from work whenever people except for people working in Critical Infrastructure and the guidance that we are looking forward to on packing. Maria meanwhile florida putting strict measures for people visiting the sunshine state. Ron desantis signing executive order requiring mandate requirement people from new york, new jersey and connecticut. German chancellor merkel was negative. She came in contact with doctor that tested positive for the virus she does not. More tests will be performed in the coming days. Tesla ceo elon musk helping california to fight the coronavirus, donating venn ventilators and acquired them from china, many more will be needed to meet the number of coronavirus cases. We are worried about hospitals becoming overrun. Cvs and walgreens adding 50 full and parttime jobs. They include pharmacy technicians an home and Home Delivery drivers. Insta cart, would double current workforce. Markets are looking for good news out of washington after two failures of senate plan. The senate failed yesterday. Failed to pass coronavirus bill. Mitch mcconnell making clear his frustration with democratic colleagues, watch. I will tell you what will lower Carbon Footprint, mr. President , if the entire economy continues to crumble with hundreds of more americans because Senate Democrats wont let us act. That would lower Carbon Footprint. This is no time for this nonsense. Maria yeah, treasury secretary Steven Mnuchin has been at the hill back and forth. He was there late last night telling reporters that hes hopeful that a deal could be closed out today. Joining the conversation fox business Dagen Mcdowell in new york along with republican strategist and founder joseph pinyong, former president ial candidate himself steve forbes as well. Good to see everybody this morning. Good to be with you. Maria it was just outstand to go me, dagen, when i looked at the list of things that nancy pelosi and Chuck Schumer wanted to put in this senate bill. Absolutely nothing to do with coronavirus. Im talking about solar tax credits and initially it was abortion funding. We are talking about a cap on ceo salaries. We are talking about collective bargaining for unions. Its absolutely incredible. It doesnt feel like an emergency to Democratic Senators right now. Dagen this is nancy pelosi on the house side invialing 2 and unveiling 2 and a half there dollars proposal, and in this plan 35 million for kennedy center, section that canceled several executive orders and president ial memorandums that president s dont like because it weakens unions. I can go through some of the items. Nancy pelosi needs to ask herself is she part of the problem and not the solution, looks like a fear of being irrelevant and losing powerment lets just oppose whats going on in Congress Even in senate, looks like we are getting closer to a deal. Secretary mnuchin sounding optimistic. Nevertheless the Federal Reserve is doing a taking a whatever it takes a approach. They are going all in. The new lending facilities that they announced before the market opened yesterday particularly for two different ones for Corporate Bonds. Now the senate needs to look at the fed and get on board with rescuing this economy. Maria the fed will begin directly buying corporate securities and lending to businesses with that move, with 10 to 1 leverage the fed now has 300 billion and fire power. That announcement obviously was the kicker for this market, steve, but you still have both sides of the aisle expressing frustration over impasse in congress. Watch this. I cannot believe that the answer to this crisis as we move to address the economic consequences that are so severe for the people of this country that the answer from our friends from the other side of the aisle is delay, delay, delay. The country is burning and your side wants to play political games. Its time to get this done, the American People expect us to act. Arguing for traps transparency for accountability used to be bipartisan. Maria quite a night, steve forbes. Steve it is, indeed, the Federal Reserve acted divisively yesterday setting new facilities one called main line Lending Facility and buying Corporate Bonds making sure the markets dont freeze up. One of the things that President Trump should threaten to do if Congress Continues to delay, democrats continue to play their game is invoke production act and order treasury to send checks out to individuals immediately. Just say its an emergency, send it out electronically, if schumer doesnt like it, pelosi doesnt like it, take it cocourt. We will see you next year but get the money out to individuals who badly need it. Maria we have been hearing about this. Whats your reaction . You have fights going on in the senate. Nancy pelosi coming out with own conversation and the Federal Reserve saving the day for the markets. You have politicians playing, you know, russian roulette with how many lives. Many of those people have been layed off already. Its incumbent on us to support actions of the fed, support what the administration is trying to do, get money in the hands of people who need it. We talked about the new jobs in places like insta cart, people signed up to become uber drivers. The last place that they can make money right now. We need to focus on getting money on main street. Maria we have a rally underway. Powell says theres trillion dollar coming to buy this market. Up ahead this hour mohamed will be here talking markets and the Federal Reserve. Ceo of verizon on internet capacity amid coronavirus stay at home orders and in the 7 00 oclock hour deborah birx. Mike worth on big oil and 8 00 a. M. Eastern dont miss House Minority leader Kevin Mccarthy will be at phase 3 deal. Arizona senator mcsally on stalled senate vote and David Calhoun is here amid pandemic. We will slip a short break. Much more ahead on mornings with maria right after this. Chief economic adviser mohamedalerian will be here, stay with us. Onstar crisis assist services and wifi data to help keep you connected to the things that matter most. And, if you need help with your current vehicle account, were here. For those who need a new chevy, interestfree financing for an unprecedented 84 months, with deferred Monthly Payments for 120 days on many of our most popular models. You may even have the option to shop online from your local dealer. And take delivery at home. Its just our way of doing our part. Maria dow industrials up 930 points today despite troubles to pass spending package last night. Futures pointing to strong move at the start of trading, s p up 113. Federal reserve action yesterday announced to stimulate economy, new debt purchasing ability and offering loans to small and mediumsize businesses. Are you happy with the fed . I am, i think he has caught up and done the right thing. I think ultimately we will be rewarded because of the decision he made over the last he has step up over the last week. I called him today and i said, jarome, good job. It might be. I was proud of him. That took courage. Ultimately youll see the fruit fruits. Maria joining me right now over the telephone mohamed alerian. Assess the strength and power by the Federal Reserve. As i said yesterday they are buying whatever it takes and that obviously moves markets, mohamed. Yes, maria. It took time but they have thrown everything at it by that not just general policies but also measures directed at trying to contain market malfunction which you and i know is absolutely key to this recovery. What it will do is it will contain the financial damage and it would contain the risk of finance. We first contaminated the economy which is really important, maria. Maria let me ask you, mohamed, using 30 billion in Equity Capital from Exchange Fund and the fed directly buys corporate securities and lends to businesses with 10 to 1 leverage. The fed has 300 billion fire power, however, no doubt that this announcement is just a preview to have bazooka that can be fired. This note is looking at the future saying that this is just a preview of the bazooka which could be fired. Whats your take on that . We dont really want to fire the bazooka. We want them to give reassurance to markets to come back in because we have to think of post crisis landscape. This crisis will pass. This is not going to be an easy journey but we will make it through and we have to think of what it looks like on the other side and the last thing we want a Federal Reserve to have a ton of credit risk on Balance Sheet and the hope is this backstop as power as it will be can provide confidence for markets to reengage. Thats the hope. Maria markets did reengage yesterday at the close we saw some interest even though the senate failed and this morning we have a powerful 900point rally. I want to get your thoughts because the bank is saying that theres a big rebalancing flow coming from the buy and hold crowd that the bank is saying theres going to be selling thats likely over and right now they are talking 850 billion of stock buying power on this rebalancing. If you have nearly a trillion dollars waiting to come in stocks, no kidding the market is open and up today. 900 points higher. Does this continue over the next couple of days . Its very hard to tell. I think we will have continued volatility. Remember, we had 3 distinct factors. We know theres buying power on the sideline but we know theres more forced to coming. Two, policies are not aligned and, 3, we have terrible numbers out of europe. This coronavirus is not just resulting in a recession there, it could result in something worse. Maria sounds like youre not buying into this yet . Im selectively dipping my toe in. Im looking at companies with very strong Balance Sheets. High cash and limited debt. Thats whats going to navigate well and theres a few names out there but i dont think its time yet. The time will come, but i dont think its time yet to buy the market. Maria let me bring Dagen Mcdowell in, go ahead, dagen. Dagen mohamed, really quickly, the holdup in the rescue package being debated in the senate is actually in large part that 425 billion that would be used to backstop Federal Reserve lending facilities, leveraging it up to 4 trillion. Youre saying that that money needs to be there as an insurance policy to get other the private sector into the markets. Why is there a holdup, what do you say about that . Because politically tricky. If you want to be effective and convey to the market, i can buy anything at any time. You want to convey the notion that theres conditionality, that you will be there. Its hard to write a blank check to somebody. Theres what good market needs and politically feasible and we are seeing that play out. Maria unbelievable. You hate to see politics involved like this, but thats exactly where we are. Mohamed, thanks very much for joining us this morning. Thank you. Maria mohamed al erian. Stay with us. Back in in a well pick up your vehicle and leave you with a lincoln loaner. Moment. I know that every single time that i suit up, there is a chance that thats the last time. 300 miles an hour, thats where i feel normal. I might be crazy but im not stupid. Having an annuity tells me that im protected. During turbulent times, consider protected Lifetime Income from an annuity as part of your retirement plan. This can help you cover your essential monthly expenses. Learn more at protectedincome. Org. Can we go get some ice cream . Alright, we gotta stop here first. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Thats why lincoln offers complimentary pickup and delivery servicing. Well pick up your vehicle and leave you with a lincoln loaner. Thats the power of sanctuary. [ one morwoo me b[ laughing ]] woo play pop music no way dude, play rock music yeah woah no matter what music you like, stream it now on pandora with xfinity. And dont forget to catch trolls world tour. Lets party people one more time some people say thats ridiculous. I dress how i feel. Yesterday i felt bold with boundless energy. This morning i woke up calm and unbreakable. Tomorrow . Who knows. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. Make the world you want. Maria welcome back, staying grounded. U. S. Airlines outlining plans for a potential shutdown according to wall street journal this morning. Sharp drop in travel has airlines struggling to operate. Officials are also fearing that the virus will continue spreading amongst staff and technicians. Steve forbes with us this morning. You know, i asked chad wolf that this sunday and chad wolf, secretary of Homeland Security said, not at this time. You have to wonder if airlines are just saying, look, we dont have the business, maybe its time to pull back and top traveling regardless, Domestic Travel. Steve well, you also have challenge of u. S. Mails and cargo to keep this economy going as much as you can and so the issue of contagion affected Traffic Controllers and the like but you have to keep some traffic going or else you will see economic shutdown. Going back to previous interview on u. S. Corporate bond market the stock is essential from the Federal Reserve because companies are running out of cash. Its not just freeze up in market, they are running out of cash. Shutting down the entire shutting down the whole industry will make the situation worse. They have to keep some of it going and get the money out there. Maria go ahead, dagen. Dagen they cut almost all international traffic, the vast majority of it and theyve reduced domestic flying by as much as 40 , but you dont want to announce to the American People, hey, we are not flying and we are getting ready to take a 75 billiondollar bailout from congress which is whats in the works and senate. On the other side of this you have to think about the have and have nots and how people are going the feel about it and people who use these services. What i mean about think about on the other side of this, are you going to have private jets still in the air but if a parent dies you wont get to their funeral . We are on the cusp of bailing out and buying out stock and they didnt have a rainy day fund. Maria unbelievable. Thousands of flights were canceled yesterday and before this pandemic, officials were flying 8. 4 million flights annually before the pandemic. That was u. S. Airlines operating 8 and a half million flights. It has been a complete turn of events at the airlines. We will be talking about whether or not the government will take equity stakes here as well. Join me at 8 30, boeing ceo David Calhoun right here in mornings with maria, the back order log and what that looks like because, of course, that tells us if airlines have been ordering. We will take a short break. A lot coming up youve got it all. All this grass. All this mulch. All these projects to do. You need a tractor that can do it all right. Mowing. Hauling. Mulching. Trenching. If its on the todo list, the 1 selling subcompact tractor in the u. S. Can do it. Versatile performancematched attachments. Legendary durability. Affordably priced. The kubota bx series. 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