Lauren simonetti watching the markets. Edward lawrence also in d. C. , and Jackie Deangelis in new york, but on the markets, lauren, we start with you. Lauren what a day, right . Oil saw the biggest gain one day ever, up 25 . Closing just over 25 a barrel. Energy stocks rising in a big way. What happened . The president said russia and saudi arabia appeared close to a supply cut, taking oil off the market. We dont know if that will happen, if they actually agree to it or how much they will take off the market and where exactly they will put all of that crude because think about it, were not using very much right now. So supply is certainly out there. Anyway, great day for the price of oil. And with that, some of the big Energy Stocks as well. The oil news helped investors brush aside the news we got an hour before the market opened this morning. That showed last week 6. 6 million americans filed for first time unemployment insurance. 6. 6 million. If you add that to the week before, were talking 10 million americans two weeks time filing for unemployment. That is a horrifying number. That is the reality were in. It tees up for the jobs report we get tomorrow for the government for the month of march. It is expected to show 100,000 jobs lost, thats it but it will not scratch the surface because since the numbers, the data calculated for that report, weve seen florida, georgia, nevada, pennsylvania, issue stayathome orders. The numbers will not scratch the surface for real damage done to the job market. I was talking to an economist, he says Unemployment Rate rises one percentage for every 1. 5 million claims. Were talking about a future 10 Unemployment Rate. That is what were talking about here. I want to leave you with good news. What are we doing when we stay at home . Were on zoom. They have 200 million daily active users. Video chat is where it is at. Ring central is coming out with their own version of video chat. Facebook, starting today on your desktop you can use messenger. The reason zoom is down 10 on the g news today, they have competition and there are security and privacy concerns for them. Back to you guys. Connell thank you very much, Lauren Simonetti on the markets. Next stop is the take from the white house. Live to blake burman from washington with that. Blake . Reporter we did not hear directly from President Trump reacting to the jobless claims numbers but the white house put out a statement that is why the president signed and pushed for the 2. 2 trillion phase three package that the president signed into law last week. A spokesperson saying the following of the president , quote, his signature insures access to incentives for businesses to retain workers and continue paying them as well as enhanced Unemployment Benefits. Now within last hour labor secretary Eugene Scalia was asked, if unemployment is in double digits, you heard lauren talking about that possibility as well, and the labor secretary did not shoot down that possibility. Watch here. I dont want to speculate where we are. Well put out an economic report tomorrow actually but that will show really just the first part of march. So we wont really have a feel for impact of the stayathome orders but we were at 3. 5. We know were going significantly above that number with the pace were seeing now with these new claims being filed. Reporter back to the president. He did reveal on twitter today, quote, just spoke to my friend mbs, crown prince of saudi arabia who spoke with president putin of russia and i expect and hope that they will be cutting back approximately 10 Million Barrels and maybe substantially more, which if it happens, will be great for the oil and gas industry. The president then increased that number in a followup tweet, adding quote, could be as high as 15 Million Barrels. Good, great news for everyone. The president will be meeting or expected to be meeting with Oil Executives at the white house. There is a couple of components here. Of course the russia, saudi arabia angle the president tweeted about today that moved market as well but also domestic demand back here in the u. S. , that has cratered as well over the last few weeks. Back to you. Connell yes it has. Blake burman live in washington for us. Melissa. Melissa all right. Lets bring in bill mcgurn. He is a columnist at the wall street journal and a fox news contributor. You know when youre looking at these jobs numbers today to some people it was a surprise the market went up. Do you think that maybe, i mean one way to look at it i heard people saying it shows that were at least doing what were supposed to. That everybody has shuttered and sort of gone home. Maybe we get through this horrible illness and to the other side if everybody is following direction, what do you think . Yeah, i think that is a reach for a Silver Lining here. Im staying at home. I get in contact with people that are delivery people, call restaurants and so many people are really hurting. I dont think that is much of a comfort. You know one thing, we have twotiered system because people like me can work from home, right . I can do everything in this offices but a lot of people cant. They either cant do it, they have been laid off for whatever reason. You know about 2 3 of the public cannot do that. So theyre really, really stuck. I dont necessarily see a sign this is the peak. Like the virus itself. I think this could go up. Melissa well, i mean the flipside of that there is no one this hasnt touched. Even though you say you can work from home i bet your savings have been hammered . We all have a Family Member who is either out of work or whose job is precarious or facing really terrible things. I dont know anyone this hasnt touched. It sort of brings about the idea, some are wondering is there a way we paws maybe, everyone owing everyone over the next month or something . Bill, it is such a Chain Reaction as you know, youre hoarding cash as a company. Youre not paying suppliers. Youre trying to decide who not to pay. At the same time, youre not getting paid whether by a customer. So it is mutually assured destruction if everyone defaults on everyone else. Is there a way to press pause rather than the entire cycle everyone, every country going bankrupt . I think that was, i think that was the big part of at least half of the two trillion dollar bill, to give people money, especially give businesses money for, for their cash flow. A lot of them are just in a crunch, not through any fault of their own, that they were badly mismanaged, they were facing exactly kind of thing. They couldnt pay the employees or pay their rent for their businesses, all sorts of things. That is what weve tried to do. I personally dont think were going to come out of, on the good side economically until there is some big news medically that we found a vaccine, that numbers have been going down. We hit our peak and they have been down for say two weeks. I just have a hard time seeing people looking at this and i think that is one of the really upsetting things other frustrating things for people, because we seem to be taking more and more drastic steps. Even the governors that were reluctant have now put in stayathome orders and people dont see good results yet. I mean, i think some of them are coming but we havent seen it yet. So all feels very futile. Meanwhile as you say, you watch your pension diminishing, your brother is out of work, your neighbor cant get employees, as you say, it is a Chain Reaction. Melissa well it is. You look at story like cheesecake factory, keep bringing that up. That is the perfect example. They said they are not paying their workers. They said they are not paying their rent. That goes to the Property Owner not getting paid, they wont pay the bank. We cant end up with a world where the bank owns everything and there are no customers or workers anywhere. That doesnt work. We need a solution to the giant Chain Reaction. Quick answer, bill. I add a big colossal problem on top of that. A lot of people lost their health insurance. Some on the left say that is why we need for medicare for all. We need to move from employee based Health System that leaves you very vulnerable. A lot of problems, not a lot of solutions. Bill mcgurn, love you. Connell. Connell well talk now about Luckin Coffee which is a chinese coffee company, essentially the starbucks of china and a big rival of starbucks in china. That stock is absolutely plunging as the Company Launched an investigation into 300 million of potential fraud committed by its own chief operating officer. Live to Jackie Deangelis with more on that. Reporter good afternoon, to you, connell, thats right. That chief operating officer that you mentioned of the company pending investigation [inaudible] 80 . Part of the allegation here is that possibly they have fabricated transactions and investors, the company is saying cannot rely on recent financials and guidance as well. So in this, really interesting. It is coming up at this time amid this kind of a crisis when so many people are pointing fingers at china and wonder if theyre completely up front about all the data, for example, with covid19. You have a company like this being accused of lying. It is a big issue. Meantime i want to pivot to happier story, focus on Good Companies are doing for others in this crisis right now. And one example is the patriot [inaudible]. Melissa all right. Connell i think were having a little trouble. We have gremlins in the system because everybody is using yeah, everyone is using internet at the same time, so it becomes difficult. Millions of u. S. Workers filing for Unemployment Benefits. What exactly can americans expect . Lets go to Edward Lawrence with more on this. Edward . Reporter were social distancing with different cameras in different states. The Unemployment Benefits will be robust. Unemployment issues theyre starting to have processing. There are some hiccups here. Youre talking about 10 Million People filing new unemployment claims in the past two weeks alone. Some state systems are overwhelmed but once they get this worked out you may see a number of things. More people will see more money. In addition benefits will cover contract workers and freelancers and giving extra 600 a week. It revives the emergency unemployment compensation. That extends 13 weeks from when your state benefits run out. Some states are giving out automatic rejections for qualified people under the act. Those states say reapply because theyre trying to work out, get up to speed with the new rules. Jeff with new lighting. Com says the cares act goes a long way to help a growing part of the workforce which is usually forgotten for benefits. Freelancers, independent contractors, independent workers can apply for loans available through the act. There was paid leave which is something that has never been available to 1099. Again you come back to it, what is the fundamental difference, 1099 workers have been discriminated and not given the same level of social security, social safety net. Reporter these are some of the things that the states will be looking for when unemployed workers are going for the benefits, specifically contractors and freelancers here, paycheck stubs, bank statements, workorders. Some of the information they will look for to verify income. Melissa, as you know the income, depends on or will directly affect the amount of benefit you get through the states. Back to you. Melissa everyone waiting for that money, edward. Thank you. Connell . Connell we have a fox business alert. Melissa, from the Company Instacart which you heard a lot about actually this week. It Just Announced plans to distribute free health and safety kits to instacart full Service Shoppers with everybody dealing with covid19. Remember this company had issues with its workers the other day. Now this announcement from instacart. One of the things were trying to do throughout the week keep you updated on latest numbers as they come in. We have now topped one million confirmed cases of covid19 around the world, one million plus. 234,000 of them right here in the United States. As we continue well look at the states with stay at home orders. That number at least up to 39. It has been climbing in recent days to try to help cut down on the spread. Well have the latest on the pandemic as we continue through the hour and look at some of the states at risk of becoming the next hot spot. We know new yorks a hot spot. The state continues to be under pressure. In fact it has accounted for almost half of all the coronavirus cases in the u. S. As we worked our way through this. More facilities meantime are transforming their spaces to help with the overflow of patients. That is something we continue to watch. In fact well have a live update on that next. Curbing the pandemic, well talk to a microbiologist about his efforts to find a covid19 cure. All that coming up. Stick around. Melissa new york city grappling with the coronavirus pandemic as more hospitals are getting overwhelmed by the surge in cases. Fox newss David Lee Miller is live in manhattan with more. David lee. Reporter melissa, there are now more coronavirus cases in new york state than in all of china and the majority of those cases are right here in new york city. The latest status ticks, 52 plus thousand people in new york city have tested positive and nearly 1400 have died. In the Daily Briefing new York Governor Andrew Cuomo said on current burn rate, the state has only sixday supply for ventilate torts. He put out urgent call for new York Business to manufacturer gloves, and other personal protective equipment. I dont have a new york defense production act, right . A governor cant say to a company, we need you to manufacture this but i asked businesses just to think about the situation were in and a possible opportunity. Reporter with the Health Care System overwhelmed new york City Ambulance crews have been told not to bring people suffering cardiac arrest to the hospital if the patients heart cant be restarted on scene. Memo to cms professionals to Umbrella Group that coordinates emergency servicese quote, Emergency Departments are overcrowded, transporting patients on to the scene, increases ed, Emergency Department workload and exposes Emergency Department staff and patients to covid19. In mount sinai hospital theyre creating negative pressure rooms. Window vents were installed to create lower air pressure where covid19 patients are treated over the corridors. Likely to reduce air flow to stop the spread of the virus. Much is said about the vulnerability of seniors. Were hearing no one is immune that has been said before. Were getting confirmation of that from the state of connecticut. A sevenweek old infant that died has tested positive for the virus. Officials have not released the cause of death. Melissa. Melissa wow, that is so sad. David lee, thank you. Connell. Connell there are a lot of different efforts to ease up on the hospital demand. Not very far from where david is reporting from, Samaritan PurseField Hospital set up in central park, officially treating patients as a Record Number of new yorkers have been hit by the virus. Ken isaacs joins us, Samaritan PurseVice President of perhaps and government relations. Ken, i think you started treating patients if i have it right in the park yesterday . Tell us how things have been going so far . That is correct. We have 13 patients right now. I think theyre bringing 10 or 12 more tonight. Things are going well. Were spooling up. We have 68 capacity and 10 icu units. We expect to receive patients in the next day or two are intubated or need to be intubated. They bring them to us from brooklyn, the emergency room there. Connell 68 bed capacity and every bed helps the way things are going in new york city. I know your organization, you personally have been all around the world dealing with situations in iraq and bahamas, you name it. What if anything is unique about this challenge for you . We have the same hospital right now in cromona, italy. Ive been doing this kind of work for 30 years. I never imagined we would bring a hospital into the u. S. , much less into new york city and much less into central park, sort of the sacred land at the heart of the city. Weve been welcome very much here but when i listen to the earlier reports of government pleas for help from businesses what is in my heart, i feel like Everybody Needs to do their part, whatever it is. Well not get through this in an easy way. This will be a very difficult in. Unfortunately there will be a lot of suffering both physically and economically. We all need to do our part. None of us want to be here. So that is what were here for. Were helping people ins. Just s. Justs jesus name. We have volunteers working here. Theyre bringing in truckloads of materials and supplies uninvited. Theyre coming and helping and doing their part. Especially every evening at 7 00 p. M. We hear the applause all around us up and down fifth avenue. It touches us all that are here working. Connell that is tradition last few days or week maybe in new york city. It is spreading out into the surrounding suburbs. People going outside of their house