Stories. Lauren simonetti following markets in the newsroom. Blake burman at white house, Hillary Vaughn on capitol hill, and Edward Lawrence with more reporting from washington as well. Lauren, on this 2,000 point gain today we start with you. Lauren biggest point gain the dow has ever seen. Rallied into the final hour of trading. What caused this . Is this fact that donald trump wants to open the economy up by easter . Is it fact the senate is awfully close to spending a two trillion dollar stimulus or both . The dow up 11. 25 . The s p and nasdaq up 208 and 557 points respectively. Each had the second biggest point gains in history. A lot of investors today are saying this is the birth of a new bull market . Have we hit bottom or is this just a temporary bounce . Look, nobody knows the answer, but Credit Suisse looking at the broader market, they see by the end of the year, s p 2700, which is a 21 gain from yesterdays close. Take that with a grain of salt. The big tech stocks we like to follow many of them left the trillion dollar club. Apple back in it today. Apple and microsoft back in the trillion dollar club. Amazon, not so much but hey, maybe well rally tomorrow. Look at price of oil and Energy Stocks today. This is the bestperforming sector. Obviously had been the most beaten up sector but it came back in a big way today. Look, if the president is committed to opening the economy back up by easter that means consumers take advantage of goose at 2. 10 nationwide. They are cutting pending this year but not touching their dividend. Investors certainly like that. Also finally, almost seems normal, the price of gold went up. That is functioning market today of up to 5 1 2 gain there. What a day, guys, well see what happens tomorrow. Back to you. Connell well get bounces like this. This is quite a bounce. Lauren, thank you. Lauren mentioned some of the president s comments he has been making about quoteunquote reopening economy. Blake burman at the white house. Reporter the president continued to insist today that he would like to see the economy reopen sooner rather than later. As you know were halfway through the federal guidelines that the president and cdc put forward but the president said today, he would like to see the economy move along two weeks from sunday as a potential start date. You know there were theories that we were going to stay out for four or five months and you cant do that you would destroy our country if you did a thing like that. Were going to be opening relatively soon. Port. I would love to have it open by easter. Reporter businesses to reopen and governors will have their say as well. I asked larry kudlow this morning how the federal government would be able to move along the economy . This was his response. Guidance, probably best way to put it at this stage, guidance. We dont exercise any monolithic authority but guidance is very important. Weve taken emergency measures. So were all working together on this i have to be vague right now because this is just an idea that is beginning to build. Reporter he talks about guidance there, kudlow does. The president suggested today in the fox news virtual town hall, that the new guidelines could take up to social distancing in the workplace, which would allow people to go back to work under the new guidelines. To stress, connell, melissa, the 15day guidelines still in place. Were only halfway through that time frame. Back to you. Connell yes we are, blake burman live for us on the north lawn. Thank you, blake. Melissa . Melissa joining to us talk about all this, liz peek and gary kaltbaum. Thanks to both of you guys for joining us. Liz, anthony fauci, said it before, the problem when you give out a number that you own that number. Now the president has thrown out there that he would like it to be back to business after easter. What do you think about that move . Well, it is not going to happen but look, the potential is that we begin to relax some curbs on some businesses particularly states and communities where there hasnt been a big problem. There are many communities in the United States where business could go back to normal. There are places you can start up manufacturing as long as safety protocols, social distancing, so forth were in place. I can see that happening but i think, the president will have to temper the expectation, if it indeed is out there, by april, easter, were back to work, everything is humming along. That is not going to happen. Today we saw a lot of optimism, starting with italy, the fact maybe theyre getting the problem under control in italy. Several nations appear to have conquered this problem and begun to set a more normal pace. I think that is what the expectation will be. By the way, if we get a good stimulus bill in place, i do think that will help. Confidence, help people go back to work, et cetera. Melissa gary, what do you think of todays monster rally . Way overdue. You had stocks down 75 to 90 in certain sectors. Some of them were up 30, 40 today, but still down 60 or 70. This is about down 12,000 points, up 2,000. One thing, not only getting it from d. C. With the two trillion plus but jay powells in there right now printing money. I would suggest at the rate of about 10 trillion over the next year if he continues. That is a lot of cake that gets added to the system. I think thats what is helping here. I heard theyre buying up bond fund right now because bonds have been dislocated recently. I heard there were 10 point spreads in some things. So all hands are on deck right now. Lets hope, you know, markets continue. Markets going up definitely helps. I do agree with liz, i do not think easter is going to be the date but i get the fact that were not talking about recession if we dont get back to business. Were talking about humongous drop in gdp and employment and that is tough to get back very easily. So that is going to be something to watch very closely. It will be all virus number related. Melissa yeah. Maybe we can restart some of the engines on easter. Well see. Stick around for us, you guys. Connell, over to you. Connell well the other big discussion today was coming out of washington about stimulus as lawmakers have been negotiating here the last few days. Hillary vaughn knows all about that as she has been covering it and joins us from capitol hill with the update. What is the latest, hillary . Reporter connell everything hinges what is happening in these closeddoor negotiations with the white house team. Treasury secretary Steve Mnuchin and White House Legislative Affairs director eric yulen, they are in discussions with Senate Minority leader Chuck Schumer who is back channeling to house leader nancy pelosi, they want to make sure everything they agree to is something she will sign off on even though pelosi rolled out a version of phase three package yesterday. Today she may be willing to pass what the senate pass. Option do it by unanimous consent that would be ideal. See what happens, you think theyre there, then something changes and thats, i think where we are. Reporter started this morning hearing from Majority Leader Mitch Mcconnell who blasted the speaker for her encyclopedia of unrelated demands. Even with that negotiations are not derailed and theyre quote at the five yard line. Few hours later schumer said they moved the ball three yards closer to the end zone. Last night i thought we were on the five yard line. Right now were on the two. As i also said last night, at this point, of the few outstanding issues i dont see any that cant be overcome within the next few hours. Reporter we are now at those next few hours, connell. Those remarks from schumer were at noon. Were now four hours past that a lot of lawmakers we spoke to are getting impatient to move on the bill. I talked with democratic senator chris coons is readily to vote yea. That is one democrat willing to support the bill. Republicans need 11 more to meet the 60 votes they need to get the bill through. Connell . Connell i dont think the lawmakers, hillary, are the only ones growing impatient. Hillary vaughn live on capitol hill and as gary and liz join us to talk about this. Even the football analogies, guys, are getting a little old. Im not sure what down we were at the five yard line. Were on the half yard line, connell. Connell oh, my goodness but what is the impact, liz of all this . It is a lot of money once it gets into the economy. What will the impact be you think . I think definitely it boosts confidence. Im kind of with gary i think the biggest things going on are having the fed and banks provide liquidity to small businesses. That is really completely essential. We know, good news, connell right now, this is a big porkfilled bill that will go through. I think it will boost markets, make people feel better. By the way put money in peoples pockets. I think all of that is good. What we know the Financial System is in good shape. Banks can lend and there is nothing more important than keeping businesses going so they dont have massive layoffs. I think some of the provisions in the bill which are towards that end are great. I think honestly Nancy Pelosis obstruction and schumers obstruction an throwing in all kinds of completely unrelated items in the bill, one of the most disgraceful chapters in Congress History and that is quite a history. All you need to do is see what Susan Collins has to say about this she never gets angry. Boy was she angry and rightly so. Connell i saw that. How will we know, gary, this is working, that it is doing the trick . Is there a metric . Wont have any affect on this bill or looking at unemployment claim numbers on thursday morning which people think might be astronomical, one or two million, maybe more, something we havent seen before . What is the metric you use to see if the stimulus is working . That is a tough answer for a tough question. I dont know a great metric. All i can tell you, you know im not a big fan of government, there are moments in disaster f. I live here in lake mary, florida, i got in my car, drove down the road two or three miles. There is nothing going on. The gas stations are open. That is supermarkets are open. You cant go into restaurants. It is all pickup and delivery. People are losing jobs left and right. That is a small sample. I can talk tourism in orlando which supports 500,000 jobs at 75 billion Economic Activity is gone right now. So if they dont get this done, forget about it. Getting it done staves off disaster for right now but lets be clear, what happens after eight weeks, 12 weeks, if this continues . I would say the virus is the economy. You have got to get control of the virus. Everything else will be all noise until that happens. Connell makes sense. Guys, thanks. Melissa. Melissa massive aid package now setting the stage for a drug war with china. Edward lawrence is live in d. C. , with the details on that. Edward . Reporter before i get to that, the Federal Reserve did make moves late today. In fact just now the Federal Reserve delaying a rule change that would set a maximum for the amount of loans the fed would give to u. S. Bank branches on intraday basis. That was supposed to be into effect on april 1st. It will now be october 1st. On prescription drugs, white house squarely in focus. White house Economic AdvisorPeter Navarro the shortages of prescription drugs showed a strategic vulnerability here in the United States. 90 of antibiotics, vitaminc, ibuprofen made by china. The u. S. Doesnt even have the ability to make penicillin anymore. In the stimulus, senate tried to address this. There is 60day window for report to bring medicine back to the United States this is part of the made in 2025 plan in china. China counting on billions of dollars coming in for making prescription drugs. This issue is on the radar of a number of lawmakers. Representative chip roy from texas is crafting a bill that would add back tax incentives to manufacturers for prescription drugs to come back to the United States, specifically puerto rico and also the rest of the United States. Senator josh hawley introduced the medical supply chain act this month. It requires manufacturers to tell the fda where those drugs are specifically made. He wants to know also what Greater Authority the fda needs to make sure we dont have shortages again. This top pick will continue to be a a topic of Committee MeetNational Senate and house of representatives. Senator marco rubio taking this torch up for major issue to make sure there are no shortages for prescription drugs for whatever issue comes up in the future. Back to you. Melissa no, it is a big issue. I know marco rubio has been on it from the beginning. Edward, thank you for that. Connell all right, now to the numbers on this tuesday afternoon. More than 407 cases worldwide of coronavirus. 50,000 plus here in the u. S. Right now. One of the things we saw today for the first time, President Trump did say he plans to actually use that wartime production act that has been talked about a lot the last few days to demand the production of 60,000 coronavirus test kits. As state leaders, Governor Cuomo and others have been ramping up pleas for that type of assistance. Well have the latest on the pandemic as we continue through the hour. Melissa plus new york state begins testing multiple trials for a possible treatment as Governor Andrew Cuomo sounds the alarm what is becoming the epicenter of the outbreak. We are on the ground with where things stand next. The unique challenges in that sector . Coming out here, seeing the infrastructure firsthand, we can make better informed investment decisions. Thats why i go beyond the numbers. More than ever, your home is your sanctuary. Thats why lincoln offers complimentary pickup and delivery servicing. Well pick up your vehicle and leave you with a lincoln loaner and the peace of mind that helps you focus on what matters most. Thats the power of sanctuary. And for a little extra help, you can now purchase a new lincoln remotely, and defer payment for up to 120 days. 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As we come back on nike reporting Third Quarter earnings results. A little bit after grain of salt on a lot of numbers as we see them come in. This might tell us about the problems nike had in china, coronavirus related. Not sure what they say about the future but Deirdre Bolton following it for us. What do we see, deirdre . Connell, im looking at earnings which im till working out to be perfectly candid, im doing the math. Nike sales exceeded expectations. For the Third Quarter they posted 10. 12 billion, that exneeded what analysts were looking for at 9. 8 billion. That is growth of 3 1 2 quarter on quarter. That is optimistic just like pure sales figures go. As we know nike gets 15 of its revenue from china and it produces 25 of its global apparel and footwear in china. So at least as far as sales for that particular quarter, fiscal Third Quarter, there does seem to be at least so far a limited effect. What i will signal, you know this too, connell, lululemon, under armour, they have closed stores in the past weeks in the u. S. , in canada, basically as many shops as they can around the world in reaction to the pandemic. Well get more details from the company in 40 minutes time. I will say Raymond James is one of the analysts ive been in touch with, saying that nike is pretty wellpositioned. They will obviously take hits going forward. The fact that the Tokyo Olympics has been postponed. Nike had a lot of promotional gear around that, that will not sell, those products will not sell as well as previously hoped but as far as Raymond James research goes, connell, they still see nike as best in class as far as retail and particularly Athletic Apparel sector goes. In the meantime, certainly a beat as far as sales. Wee keep crunching numbers as far as earnings. Throw it back to you meantime. Connell about best you can hope for i was going to say, deirdre, best in class strong balance sheet. Everybody will take a hit. Deirdre bolton thank you. Melissa. Melissa another fox business alert now. Senator mitt romney tweeting on the status of his coronavirus testing, thankfully i have tested negative for covid19. Nevertheless guidance from my physician, consistent with the cdc guidelines requires me to remain in quarantine as the test does not rule outthe onset of symptoms during the 14day period. Again mitt romney announcing that he tested negative. Connell . Connell all right. Putting a pause on air travel, major u. S. Airlines are now drafting plans, potentially if they have to ground all their flights in the country