We await President Trump right now, probably in about the next hour or so he will be addressing the top of the Coronavirus Task force. One of the Big Questions will be about his conversation earlier this morning with russian president vladmir putin. The white house has said that those two talked about the need to stablize energy markets. The president saying earlier this morning that he believes oil prices are too low. Russia and saudi arabia are fighting and they have driven down the price of oil and i never thought i would be saying that maybe we have to have an oil increase because we do. The price is so low, theyre fighting so crazy over distribution and over how many barrels to let go. Reporter the president also said that he would like to see hazard play, hazard pay, rather go into effect for the nurses on the front line in the hospitals treating the coronavirus patients. The treasury secretary Steve Mnuchin said earlier today, speaking with Stuart Varney that receipt now theyre more worried about implementing this 2. 2 trillion phase 3 package but he did leave open the possibility to a phase 4 down the line. Were deploying this money now and, as we see how the virus goes forward, were ready to work with congress if we need more enhancements or additional fund. Reporter democrats when they were putting together this 2. 2 trillion package with republicans and the white house wanted to see some sort of oversight, make sure the 2. 2 trillion, especially talking about the money going to corporations and businesses, wasnt being put to waste and there wasnt fraud involved. We know who will be overseeing that effort, connell, glenn fine, inspector gin at the department of the defense will have oversight of the implementation of this relief package. Back to you. Melissa blake, thank you. Now over to Edward Lawrence on. Stimulus bill. Edward. Reporter melissa, when can we get our money . That is what a lot of eligible americans are looking for because theyre concerned about making payments. Im told from the senior treasury official the irs started today to start processing those payments. This could take a while. Because they have to go through 142 million tax returns, to see who is eligible first. See if there is direct deposit or a check is mailed out. This could take several weeks. Senior treasury official tells me it will be april 17th, is when the first deposits will be made. Beyond that, the next week you can expect a lot more. House Speaker Nancy Pelosi saying late this afternoon she wants one more round of direct payments in a phase iv stimulus bill. That is where Small Business help, will come a little faster. Banks that already have a relationship with them and a network is in place to disperse the money this friday Small Business owners can apply for a loan, that will be retroactive until february 15th. That allows businesses to hire someone back who may have already been laid offer. These loans will be available, starting on friday, which will be at lightning speed. We hope later today, that well be releasing the documents and the instructions t will be a very simple process where Small Business owners can go to any of the existing sba lenders but they can also go to any fdic insured institution, any credit union, any fintech letter that has signed up for this program. Reporter Steve Mnuchin talking with our Stuart Varney earlier today. The loan would be forgiven if the company does not reduce its payroll by 25 or more, the loan could be forgiven. If they reduce it more than 25 , the loan forgiveness would shrink by the appropriate amount. This money could be used for utilities. It could also be used to pay mortgages, salaries, also rent or a lease payment. Back to you. Melissa edward, thank you. Connell . Connell lets go back now, melissa, look at this day in the markets and we end up higher by nearly 700 points on the Dow Jones Industrial average. The s p and nasdaq also having a terrific day of trading. Now, you add oil around 20 bucks a barrel. So you had that falling. A few Different Things going on at once here. To edward and blakes point, there is hope in the market of more stimulus delivered. That is something investors are looking at, continue to look at. There has been some talk that the extended shutdowns like we heard the president announce last night, if anything might control the virus, limit as hard as it is to imagine now, the longterm economic damage caused by the virus. All of this said, were on pace, i believe still for the worst month for stocks since october of 2008 to put everything in perspective. One individual stock we were watching closely was macys. Macys made announcement earlier that they were going to furlough the majority of its workers, 130,000 people or thereabouts. This stock has been sold off by 60 or so over the last few months. They tried all kind of things to save cash at macys, suspending the dividend, on and on. When it came down to it, the Stores Remaining close because of the virus, the decision was made to furlough workers. They will continue to pay Health Benefits at least through the month of may. We extend the gains for last week at least of now. We have 700 point advance on the dow. Back over to you. Melissa here now is Dan Henninger from the wall street journal. He is also a fox business contributor, and dan, one of the biggest questions everybody is grappling with right now, how much of this damage to the economy and to all of these businesses is permanent . What will come back and what wont, what do you think . I think this is the biggest variable the market is not able to price in right now. That is specifically human behavior. What will be the human behavioral response when we get past this as we will . Will people go back to behaving as they always did . I dont think anyone knows that, whether they will be traveling as much as they did . Going out, travel and leisure. We had a booming economy before all this happened. Ive been thinking, melissa, in terms of putting all the money in peoples pockets, the idea they would go out and spend it, what if people are concerned and decide to put it in their savings accounts and not spend the money . After the pandemic of 1918 it took several years before the United States got back to usual. People were really kind of hunkered down after that experience because it was so severe and i guess im kind of wondering, i really dont know the answer, what the American People are going to do . They after all are the american economy. That is a question none of us can answer right now. Melissa yeah, well, given the amount of money i think most people will pay the bills. I dont think they will have the luxury putting it in their savings account. I understand exactly what youre saying. After 9 11 we wondered would people travel again, would they be too afraid to fly, will things get back to normal . They did do it but it took some time. My question, dan, what has the market priced in at this point . We saw the market bounce off the 20,000 point. We know Steve Mnuchin says he thinks the economy will bounce back in the third quarter. A lot of people will expect these companies will have no earnings whatsoever. When you look at those numbers, what do you think is priced in right now . Well i think the biggest thing priced in right now is survival. Isnt survival the point of everything that we, and congress has been doing right now . To try to keep the economy afloat . Or some of us have been saying, put it in a directed coma for about four weeks until we survive the virus . I think past that point what theyre trying to price in which pieces of the economy are going to function again or come back the quickest . It got a lot, biggest winners so far are say amazon, which is the at t of stocks of our time. The gold standard, the safest stock to be in, or Health Care Stocks which obviously are going to do well for the long term but the question as to the rest of the economy i think it is an open question. Which pieces of that are going to come back . So far were trying to keep as much of it with our heads above water as we can. Melissa you know, when you look at things like macys, that is the big story today, because theyre furloughing the employees. They say they will bring them back in a staggered fashion. You and i both know macys was already hurting before this. They already had too many locations. They were looking to get rid of some employees. This is hastening that but dan, a lot of businesses are in the same boat, right . The retail sector. That is one of the biggest stories of our time. How online purchasing was hollowing out the formal preceding retail spector. I think this will simply hasten, make inevitable the transition of a lot of Retail Operations to online because all of us are getting used to conducting all of our lives online. That is kind of one of the things im referring to, behave al responses will people go back to stores likes macys . I doubt it. I think it will be online. Companies have to adapt to that. Melissa thats right. Dan, always brilliant. Thank you. Connell . Connell all right. Melissa, for more what comes next, lets bring in robert wolf in, robert former Economic Advisor toe president obama, fox news contributor, ran uba america. Interesting, robert, all the talk is not about phase three and stimulus we havent seen phased in yet, but investors are moving on to the fact more might be needed, a socalled phase iv. Lets talk about that. Do you think the government will have to step in and do more and if so, what should the next priority be . Thanks for asking. Very interesting conversation between dan and melissa. One i would say phase three was not big enough. I think they were short a trillion. That means if i were voting i wouldnt vote for it but i would have argued for a lot more. I would have argued three things, obviously a lot more to medical and hospital workers. Number two, a lot more to states. That is going to feel the impact immediately and for the foreseeable future, and three, larger direct payments to those unemployed and furloughed by covid19. It was too small. Not a stimulus as it wassuppose. More of aha on fridays jobless claims numbers of 3. 3 million. What everyone is predicting thereafter of somewhere between 10 and 20 unemployment and possibly 20 to 30 of negative gdp. So we are now in a recession. The question is, connell, is it going to be lshaped, ushaped or vshaped . Our goal is obviously u or a v and our goal is to have it before the fourth quarter, at least into the fourth quarter. So the stimulus package will have to be sizable coming up. There will be at least another one or two. But also, i think, to what dan and melissa were saying, how do you get the consumers back . And in my view would be to also add a sales tax rebate and a job, payroll employee lowering of the tax. That way it also gets the consumer going again. You eventually have to, once you get the labor side back, you need to get the consumer side back. That would be probably a fourth phase. Sorry about that. Connell wow. I mean you think about it, robert, though, it is just, it speaks with those projections on unemployment and growth or lack thereof how deep this hole at least in the short term is, if you can almost, in cavalier fashion say, well two trillion, that is not enough. A lot of people feel that way. On the issue of the states, i do find that interesting for a number of reasons. One President Trump brought it up on friday. He was asked about it, what would you support . That is the one thing he mentioned. I wonder if this whole one size fits all because they had to get it out so quickly, is an issue for many states that are hardhit that will see their budgets be hard hit . Many states, new york is an example, not only one, you have a higher standard of living you put money in for workers, put some caps on Small Business you dont have as much bang for your buck, do you, as opposed to some of the other states youre not making as much money and you dont need as much help . That is a great point t starts with the revenue side. Unfortunately with more people unemployed on furlough you will not have the tax side. Then i think the second part, weve never seen anything like this. I was obviously part of advising obama during the recovery act of 09. We thought 900 billion at that time was too small. We thought it should have been 1 1 2 to 2 trillion. This is much deeper and broader than that. Youre tacking about a much larger unemployment figure were talking about. Back then it was autos, financial, home this is much broader this is the service sector, hospitality, retail, bricks and mortar. Weve never seen anything like this. That being said, connell, i think it will be more a technical recession, caused by a pandemic. The market was strong before this the economy was strong before this. The question what do we do to reverse this quickly. It starts with the pandemic itself. Connell all right. Robert, always good to talk with you. Well keep checking in with you. Thank you, connell. Connell as we continue here, youre welcome, with melissa we have a numbers check as weve been doing on a daybyday basis to give you perspective where we are. More than 766,000 cases worldwide of covid19. 153,000 plus confirmed here in the u. S. Those are the new numbers that have come in here the last hour or so. We have at least 23 states that have 1000 cases, 23 with 1000 cases. 10 states with four thousand as the medical world face as shortage of supplies which well continue to cover. The latest on the pandemic. Another industry under pressure is just ahead. Plus what else, melissa . Melissa hospitals bracing for the worst. New york city preparing for a spike in new cases as a navy ship arrives in manhattan to ease the burden on crowded city hospitals. Were live on the scene next. As a doctor, i agree with cdc guidance. I recommend topical pain relievers first. Like salonpas patch large. Its powerful, fdaapproved to relieve moderate pain, yet nonaddictive and gentle on the body. Salonpas. Its good medicine. Hisamitsu. Melissa help is coming to new york city. The u. S. Navy hospital ship comfort arriving in manhattan this morning to treat noncoronavirus patients. Bryan llenas is live at peer 90. Bryan. Reporter melissa, new york city mayor bill de blasio says they need to triple the number of hospital beds in this city by may. The usns comfort Naval Hospital ship is one of those that has 1000 hospital beds and they are only going to treat noncovid19 patients only in an effort to relief new york citys hospitals so they can really focus solely on taking care of those covid19 patients who are sick. Not just about the beds and the doctors and the equipment. It is also about hope. It is also about boosting the morale of new yorkers. Reporter in addition to the 1000 hospital beds, the usns comfort has 1200 medical personnel and crew made up of Navy Active Duty and reservists. Doctors, nurses, technicians, surgeons that have comb from all over the east coast to help new york. The comfort is equipped with 12 operating rooms, 80 iceu rooms, xray machines, physical Therapy Center and a pharmacy. The comfort will accept 50 noncovid19 patients a day starting tomorrow, is what were told. Patients will be tested and screened for covid19 at the respective hospitals. They will be screened again at the temporary hospital at the Javits Convention center and taken by ambulance to the ship. The crew has undergone two covid19 screening processes themselves. Only a handful of crew will be allowed to leave the ship. We are really, really going to be vigilant in insuring we dont introduce covid on to the ship f it were to happen weve got a, very, very deliberate and a very speedy process to isolate and get people off the ship. Reporter the usns comfort wasnt even supposed to be ready by now. It was scheduled for maintenance. They sped that up and saved three weeks, luckily. They also drudged, drinked this portion of the harbor on peer 90, so this 70,000ton, 900foot former oil tanker could dock here to help new yorkers. Incredible comforting to see the ship pull up to new york harbor today, melissa. Melissa it did. Made a difference in spirits here in new york, bryan. Thank you. Nationwide walkout . Workers for two Delivery Services going on strike today over unsafe working conditions brought on by the virus. Plus, connell . Connell well navigating this new normal, how one Sports Entertainment company is adapting amid a series of shutdowns. From anyone else. So why accept it from your allergy pills . Flonase relieves your worst symptoms which most pills dont. Get allinone allergy relief for 24 hours, with flonase. Im part of a community of problem solvers. We make ideas grow. From an everyday solution. To one that can take on a bigger challenge. We are solving problems that improve lives. Melissa millions of americans already lost their jobs amid the coronavirus pandemic and some workers who are still employed are now striking due to what they call unsafe work conditions. Fox businesss susan li has the story. Susan . Reporter one facility, fulfillment facility for amazon at Staten Island, new york, 100,000 nationwide for instacart. Start with amazon. 100 people walked off the job after noontime today, they are protesting what they call unsanitary conditions. Listen. We have no masks. I have to wear scarves. We have no masks. They provide us with masks. They say they do, they dont. We dont have the right type of gloves. We dont have latex gloves. Were not in the medical field. Theyre downplaying everything. Somebody needs to be held accountable. They need to take care of their people. Reporter what theyre asking for personal protection gear. Theyre looking for masks, for gloves, not rationing of wipes which some say are only given out maybe twice a week. Amazon, and i guess, in response to this saying these accusations are simply unfounded. Were working hard to keep our employees safe while serving our communities and the most vulnerable. We have taken extreme mea