In negatives, nothing changes there. The latest negative being this fight over control. The president or the governors. That is a distraction from the main event, getting back to work is now job one. Later on the program today, larry kudlow, the president s chief economic adviser, joins us. Hes on the task force. We will ask when, where and who gets back to work. Thats coming up. To the get back to work debate, it largely excludes democrat politicians, shown side by side Bernie Sanders has endorsed joe biden. But all they can agree on is contempt for the president and some bernie supporters are saying now they will not vote for joe biden. The democrats are split. What are they contributing to the get back to work debate . In my opinion, not much. The market, however, they appear to like the idea of opening up the economy. Investors looking to the other side. The dow this morning is going to be up about 400 at the opening bell. Thats a gain of, what, 1. 75 . A similar gain for the s p and a 2 gain looking likely for the nasdaq. Thats at the opening bell. Now, at the president s daily virus briefing yesterday, the media desperately insisted that the president had delayed locking down orders and therefore, cost lives. In response, he offered a timeline showing exactly what he had done and when he had done it. He brought the facts to the table. The reporters just brought their contempt for the president. Listen to mr. Trump talk about opening the economy. Watch this. We are very close to completing a plan to open our country. Hopefully even ahead of schedule. Thats so important. We will soon finalize new and very important guidelines to give governors the information they need to start safely opening their states. My administrations plan and corresponding guidelines will give the American People the confidence they need to begin returning to normal life. Stuart state governors, they are forming groups, regional groups, to discuss when and how to reopen the economy but the president says he will make that decision soon. Come in, susan. Good morning to you. Which governors are grouping up . Susan first we have the northeast governors, so theres six of them right now. Massachusetts joined in later, so new york, new jersey, connecticut, pennsylvania, delaware, rhode island, yesterday holding a press conference saying they are going to announce a Public Health official and economic official and also respective chiefs of staff and thats because they want to coordinate, have a coordinated reopening so that one state i guess policies doesnt affect the other ones and there isnt a reflareup of the virus once again. Again, this is about who actually has control to relaunch, reopen the states in this particular region. They say they do but the federal government has really taken the handsoff approach until the Task Force Meeting yesterday, wouldnt you say . Stuart i would agree with that. Yes. Lets see how that transpires. We have the white house, they are expected to launch this task force, i think they would prefer to call it Council Advisers or Advisory Group, they are expected to launch that today. Hillary vaughn is with us. Again, that announcement could come today. What do we know about it . Reporter thats right, stuart. The president did receive a list of 100 Business Executives that could be included in this Advisory Group that is going to be headed up by the president himself, also chief of staff mark meadows is going to play a supporting role in this group thats going to be advising the president through meetings and through advice of how to get america back to work. Its also going to include secretary of treasury Steven Mnuchin, secretary of commerce wilbur ross, secretary of labor gene scalia and u. S. Trade representative Robert Lighthizer as well as larry kudlow and a few others. This group really is advising the president on what steps need to be taken to open up the economy again but as susan noted, there already is other groups being formed through governors around the country, looking at their options of how to get their local economies back to work, and we are seeing now that there is a little bit of tension between what the president may want to see and what governors may actually do in their own states. Stuart . Stuart hillary, i hear you, but the main point is the debate is on, getting back to work is the debate discussion. Thats whats happening right now. By the way, again, i will be speaking with larry kudlow around 11 10 eastern time this morning. Thats on the program and it is today. Reopening the economy. I think that maybe is the key to the stk markock markets rally. Ed yardeni, you have been watching the markets almost as long as i have, and i think that this current rally to the 23,700 level is the result of this discussion, getting back to work, lifting the restrictions. What do you say . Absolutely. The market has been amazingly intense bear market and now it seems to be recovering already. I think we actually have hit the low on march 23rd and i think its that combination of all the money thats been thrown at the Financial System by the fed and by the treasury, at least on the financial front of this war against the virus, things seem to be improving, then theres the economic front. You think about it as a threefront war, and the Financial Trends have sort of been dealt with by i call it b52 carpet bombing at the economy. The economy itself is very important to the stock market. We are going to get some terrible earnings news up ahead here, and to the extent the market starts to discount a recovery by the summer, that will be a positive for the market. Then i think the other thing thats helping is we are starting to show some data that the number of cases, the number of deaths are slowing which is very very important. Because you cant win the other fronts unless the health care front improves. Stuart one quick point, ed. Weve got jpmorgan this morning warning of a fairly severe recession right about now. In other words, we are almost in the depths of it. What do you make of that . Theyre right. Its kind of baked in the cake. We are going to see second and Third Quarter real gdp down substantially. Its almost going to feel like a depression within two quarters, but thats the bad news and we are going to get some shockingly bad Economic Indicators up ahead here, but theyre not going to be surprisingly bad. We have already had some shockers in initial unemployment claims, for example, and the market took it in stride because the markets looking ahead and the markets looking forward to a recovery. Stuart all right. Ed, thanks very much for joining us this morning. We always appreciate it. We will see you again real soon. We are looking to the other side like everybody else. Now, some of the big banks, they are going to be reporting their earnings this week. I should tell you that the banks, Community Banks, big banks, all of them, are starting to push that money out. People are beginning to get that money in the Small Business loan applications. Ed lawrence is with us. Ed, i think, however, so much money is being pushed out, they could run out of money by the end of the week . Reporter yeah. They are in danger of running out of money at the end of the week. Lets talk about two sets of money going out. You have Small Business loans but also, direct payments to americans. Now we are in another day where the irs is putting those direct deposits directly into Americans Bank accounts. A senior treasury official telling me that by the end of tomorrow, they want to have 50 million to 60 million from the treasury pushed out directly to americans. We are talking about for a family of one, say, parents and a kid making 140,000 a year combined, thats a stimulus of 2900. On those Small Business loans, its been wildly popular among Small Businesses, the Payroll Protection Program. In fact, take a look at the latest numbers coming into today. Looking at 240 billion has been processed through this loan, through the Small Business administration, and those forgivable loans, with over 1 million one million loans written. Thats one million Small Businesses that have come looking for help related to this. So the program is expanding in terms of the numbers of people being involved and also, the banks, the number of lenders, are expanding. The Small Business administration opened it up to fintech firms. For example, lendio over the weekend said they did 2500 loans for a tune of 500 million so you have expansion there. But yes, wildly popular and it looks like if this trend continues, we could possibly be out of money with the Payroll Protection Program by friday or at least into the weekend, very close to being out of money by friday because some of the big banks have started to process but they really havent in bulk put their loans through. Stu . Stuart okay. Thanks very much indeed. It seems like the speed at which the money is getting out there is truly remarkable. Ashley, good morning to you. Come in, please. The moneys already hitting peoples Bank Accounts, i think. Ashley yeah. Thats absolutely right. Good morning to you. 80 million americans are expected to get that check, actually its going to go into their Bank Accounts via direct deposit, this week. 80 million americans. In fact, the majority of americans say the Treasury Department eligible americans will be receiving the payment within the next two weeks. To be eligible you have already had to have filed your 2019 or 2018 tax returns and you also must authorize a direct deposit. If you havent done any of those, its going to be a little longer before you receive a payment. But 80 million americans this week will get that money into their Bank Accounts via direct deposit. Stuart one more thing, ashley. Have you got have we got some sign of light out of youeurope . Ashley we do. Out of spain. Spain, one of the hardest hit countries in europe. They are now reopening their construction and manufacturing industries, although bars and restaurants, et cetera, and schools remain closed. But a little bit of light there. Austria has reopened thousands of stores, even though it says its not out of the woods yet, but the number of deaths and cases in austria is quite a bit lower than other countries. They acted very quickly and early. Then in denmark, they will reopen the schools, kindergarten through grade school tomorrow. So just little, you know, little sliver of light there that things are starting to turn around in europe. Stuart interesting. Ashley, thank you very much indeed. Look at your screens, ladies and gentlemen. Bottom righthand corner. Weve got a rally at the opening bell this morning, up maybe 400 for the dow, 46, 47 for the s p and a big gain for the nasdaq, looking at a 2 move to the upside. Again, on the show this morning, in our 11 00 hour, white house economic adviser larry kudlow joins us. I want to know when are we talking about reopening the economy and whats the progress on this second virus task force or Advisory Group, as they want it to be called. Thats in the 11 00 hour this morning. Planet fitness, they had to close their gym doors but thats not stopped them from keeping people moving. They are now streaming workouts online. I believe its for free, too. We have the ceo on the show in the next hour. Also, i want to point out, i want to see what senator John Barrasso makes of Elizabeth Warrens bill of rights plan. Shes calling for higher wages and universal sick pay for essential workers. More after this. music why accept it frompt an incompyour allergy pills . E else. Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief the theater home to you,t to with xfinity movie premiere. Theres a world full of other trolls. How different can they be . Our brandnew service that lets you watch all the latest movie releases from the comfort of home. Trolls world tour available now. I will protect you no matter what, pinky promise. Just say xfinity movie premiere into your voice remote to bring the theater to you. I will do all that i can to see that that happens, joe. People are going to be surprised that we are apart on some issues, but were awfully close on a whole bunch of others. Im going to need you, not just to win the campaign but to govern. Stuart all right. You heard it right therement be. Bernie sanders endorsing joe biden for president. Come in, ashley. My question is, will bernies supporters vote for joe biden . Ashley thats a very good question. Its certainly unusual. It wasnt a mere formality that bernie would endorse joe biden. I can tell you that they have decided to appoint six, count them, six task force to find ways to bridge the gap between the moderate biden camp and the more progressive bernie bros and bernie sisters. Dont forget, back in 2016, an estimated 10 of bernie supporters didnt like hillary and voted for donald trump. Its unclear what will happen this time around but certainly, joe biden does not tick many boxes for the pure Bernie Sanders camp and doing that and finding a way to bring them in under the tent is going to be very difficult. Stuart i dont think joe bidens that moderate but thats just my comment there. Lets move on. Senator Elizabeth Warren has unveiled a bill of rights for essential workers. Wyoming senator John Barrasso joins us now. Senator, senator warren wants special extra pay for vital workers and unlimited sick pay for vital workers. Is that going to get in the way of this second relief bill . Well, Elizabeth Warren is trying to hold hostage at gunpoint American Workers paychecks and what shes wanting to do it for, you look at that list of ten things shes demanding, it really is the Ten Commandments of the liberal left. Its a continuation of her failed president ial campaign. This at a time when the fund is running out of the money that can be sent to Small Businesses all around the country. Here in wyoming, workers, farmers, ranchers, Small Businesses, so we can keep people getting paychecks. Its worked so far for 15 million americans who continue to get paychecks, about a million of these loans have gone out, its been very successful but by the end of the week, we are going to be out of money so we wont be able to do more of this opportunity to keep those paychecks going and Elizabeth Warren is standing in the way. Stuart but senator, heres the problem. The house doesnt get back to work in d. C. Until may 4th. What is that, three weeks away, at least . Three weeks with no action from the house . How are you going to get a second stimulus rescue package, call it what you will, how do you get that second package through if theyre not back until may 4th . Thats why were saying lets work on the parts that are running out of money, and right now thats the program for workers to continue to get their paychecks, the paycheck Protection Program which has been widely successful. We put in 350 billion to start. We now find we need to get another 250 billion. Other things that some people are talking about in terms of hospitals, communities, states, are important but they havent run out of money yet. Some of that money hasnt even gone out. Just this week alone we will see 80 Million People getting direct deposits into their own account, these 1200 for every american, the adults, 500 for young people. All of those things are just going out this week. We want to get america back to work and the sooner we can get america back to work, the less that additional government aid will be necessary long term. So my goal is to get the country open again, get the economy moving again, but for the program that is running out of money this week, which is the paycheck Protection Program for people to get who work for Small Businesses, and you know about 7 out of 10 americans work for Small Businesses, if you are somebody who works for a Small Business, you need your paycheck. If that business wants to keep you and wants to be able to open for business when america opens up again, we need this program. Its a simple onepage bill to raise the number from 350 billion to 600 billion. Thats what the democrats, Elizabeth Warren, nancy pelosi, are blocking. Stuart senator, always a pleasure. Thank you very much for joining us, sir. We appreciate it. Thank you. Some people in michigan are really angry over new stayathome restrictions in that state. Judge napolitano is with us. Judge, i notice that in michigan, the governor has told walmart r walmart, target and costco dont sell nonessential items. Costco, target, walmart, private enterprise being told what you can sell and what you cant sell. Whats the Legal Authority here . Theres no good morning, stuart. Theres no Legal Authority for this whatsoever. You and i talked yesterday about the slow motion loss of civil libertie liberties. Almost as if she had been watching your show, the governor of michigan issued this bizarre socalled executive order yesterday in which she actually named some of the no