This on top of slight gains yesterday at 4 00 oclock. Markets were up. As you see dow industrials up 33 points and nasdaq up 139. Getting america working once again. President trump announcing plans to reopen the economy in phases. The president went through it yesterday. The Small Business aid program has run dry on capitol hill. The battle is waging on how much money, how much to add to funds to help business and American Workers now. Coronavirus is taking a toll on the chinese economy. It has contracted 6. 8 in the First Quarter. First ever quarterly contraction and wuhans death toll revised up 50 adding fuel to questions of beijings actual reporting on the virus. Secretary of state mike pompeo live at 8 30 a. M. Eastern on the possible origins of the virus as more people focus on the lab in wuhan, something that ive been putting the spotlight for months. What actions can be taken to china for lack of transparency. Mornings with maria begins now. Positive news on gilead. You saw the futures in the u. S. Lets take a look at european indices, gains across the board. Ftse up. In the uk lockdown has been expanded for at least 3 more weeks. In asia across the board, decline. Gains across the board, korea up better than 3 as well as japan. Oil prices headed toward a second consecutive weekly loss this morning after opec forecast sharp decrease in demand across the world. Price of oil now at 18. 58 a barrel. Some of the top stories that we are watching this morning, President Trump unveiling new compliance toward reopening the u. S. Economy. The white house using a 3phase approach driven by what President Trump says are medically driven metrics. Our country has suffered, the world has suffered, my guidelines will take a phased and deliberate approach to reopening their individual states. Maria phase one begins by allowing restaurants, sporting venues and gyms and places of worship to reopen with strict social distancing rules. Schools and bars will remain close in phase one. Elective surgeries can resume. Phase 2 to loosen the guidelines along with nonessential travel with phase 2 as well. Bars can start to reopen doors with reduced capacity the president says. Large gatherings must still be avoided. Phase 3, employers should still follow social distance, provide temperature checks and as many as 29 states may be ready to open before may first. As researchers race for a vaccine for coronavirus, there are reports some patients are responding to universal drug. Giliead sciences remdesivir which is possible treatment for ebola. Patients given daily infusions were released from the hospital in less than a week. We will really kick the tires on remdesivir. Stock better up 9 a share right now. Theres moderna to accelerate development of covid19 vaccine. Started a three phase study last month. Seven dollars a share as we continue to bid up the companies that are working on a vaccine. Boeing is back on the job. Limited jetliner production to resume in seattle area on monday. 27,000 employees will return to work at boeing. Boeing at 3week shutdown due to stay at home orders. Boeing adding Safety Measures, mace tasks, protective equipment to prevent spread of the virus. China First Quarter gdp6. 8 , first contraction on record as beijing continues to battle the deadly coronavirus outbreak. Sharp declines causing Ripple Effect throughout the economy. Joining the conversation on the phone china Leland Miller and along with ubs Financial Private wealth adviser alli mccarteny. We are continuing to question anything coming out of china. A lot of us possessions swirling around chinas reporting to have outbreak. City officials where the virus originated revised death toll, 50 higher than previously reported. I mean, 50 . Earlier deaths were missed because of flooded medical facilities. Leland, yourry your reaction and revision that we questioned from the getgo anyway, we knew that the numbers were not correct. Maria, you led off with right take away. Any number coming out of china specifically any type of political relevance shouldnt be taken for granted. The reality, our data shows it was even worse. They came with negative 6. 8 . We showed contraction to negative 11 . Still not good and then if you look at the medical numbers, look, there are Different Reasons why wuha, in may have different death tolls, numbers, changes overtime, the problem is not wuhan, the spread of the injection of wuhan in china are absolutely incredible. You cannot have 50,000 plus infections in wuhan and 30,000 of china which is 3. 1 billion people. What is happening outside of wuhan inside of china is a real story. The numbers do not make sense. Maria yeah, especially since you consider the fact that there were no contractions in beijing. I mean, is that even possible that no one did they protect the communist party that much that there was no contraction whatsoever in beijing or is that another lie . Leland no, its absolutely ridiculous. If you look at official tallies, no one in major cityies contracted. These numbers are not just unbelievable, they run believable by a factor of say a hundred or so. We did a look into some of the we did the economic numbers but we did a look into the reality of the medical numbers, chief economist did a longer piece on this. We have on twitter feed, you know, his conclusion was that we are short of this by literally over factor of 100. The size of china cities, the amount of travel that was going on before they locked down. You cant be looking at a number thats under the multiples. Maria dont forget, Dagen Mcdowell, as you come in here, 433,000 people traveled from china to america after it was known about the coronavirus. So they allowed 433,000 chinese to come to america after it was well known. No surprise there, dagen. Dagen right, and taiwan warning the World Health Organization that there was evidence of human to human transmission at the end of december and it wasnt until january 20th that chinese leadership came out and said, theres human to human transmission of this virus. Leland, china regardless of the reason unlearned this virus on the rest of the world and now its very clear in their behavior and what theyre saying and doing, is they are trying to come out of this sooner and quicker economically and financially than the rest of the world, but can they do that . Theres still exportdriven economy so the United States is flat on its back economically, but, again, that is pain for china. Leland thats exactly right. You know, this problem has metastisized for china. The ability to either have a vshape recovery or report vshape recovery in march and april band on their way towards the imaginary growth targets that they want to hit for the year 2020. This is no longer just a story of domestic resiliency. The chinese recovery is dependent on the rest of the world. With so many export partners shut down, you dont have any Global Demand. This is a situation where the chinese thought q1 problem and now turning into a q2 problem and we are to have a contraction for the first half of the year and the surprising for beijing is almost totally out of control. Maria saraj, jump in here. Leland, one question, is there anything that the United States should be doing to avoid an l shape to make sure that the contraction isnt a permanent one . Leland well, look, so much has to do with how much we can contain the virus back at home. Its very difficult to make comparisons to what china did because hawaii draconian the lockdown was once they got serious. I think this is the question of how to minimize the curve here and try to slowly bring ourselves back to work but this is the problem with Economic Forecasting right now for china or the United States. Until we know how long the economies are going to be shut down here and europe, et cetera, you cant do any modeling for full year 2020 growth. Its looking gruesome right now. Maria it sure is. Leland, so far you have a number of companies within america that continue to sell to 1. 4 billion people in china. They want to have their supply chains there and make sure they get cheap labor. What is it going to take for American Companies to recognize if youre going to go to china you better go with your eyes open, they will steal, they will lie and try to overtake you as number 1 supplier of whatever business youre in . Leland rest assured American Companies are realizing this right now. We work with a lot of them. What you saw increased realization that there should be contingency plan b even if you arent moving out of china. You saw that on the rising geopolitical tensions over the couple of years and now youre seeing frit covid spread. I think the reality is that in the past everything was focused on getting the lowers cost and shareholders would demand the lowers cost but now that they understand that there are real vulnerabilities here with the supply chain and things can be completely cut off, whether we are talking about pharmaceutical, auto part sori t parts. I think theres a realization that you have to have a plan b. Maria yeah. Leland this is going to be the new norm but it will be a hit to earnings down the road. Maria yeah, that will be the ultimate accountability, not the lawsuits that some are are preparing and not the legislation that others are preparing to assure that china is accountable for all of this but the actual end result of less business. American Companies Companies pulling out of china. Leland, we will check, thank you very much this morning, Leland Miller joining us there. We are just Getting Started this morning, we have a market thats up 705 points. Before we slip in a break alli mccartney from ubs. The markets are rallying do you think its the success of Gilead Sciences as well as the president went through phases to reopen the economy . Alli, maria, you hit the nail on the head with both of them. The market has been optimistic, we are trading 18 times forward earnings. Lets all assume we dont know what forward earnings is and lets take that 10 . That means we are trading at 20 times. Thats historically above average. We have a lot of optimism price intoed the market and i think it has to do with exactly what you said which is squarely having moved from panic and adjustment to a sustained recovery, the question is everyone is indicated this morning is what is the path and tenure of the recovery. Maria lets slip in a break and we will talk about this all morning this morning. Back in a minute. Stay with us. When you own horses, you dont just own horses. You own a pasture. A fence. A barn. An arena. More fence. And hay. Lots of hay. So you need a tractor built to do it all. And do it right. You need the power to handle anything. You need versatile performance matchedattachments. You need the 1 selling compact tractor for a decade. The kubota l series tractors. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com our Retirement Plan with voya gives us confidence. We can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Im good at my condo. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Maria data reportedly showing that galead is having success with antiviral drug treating the coronavirus. Joining me right now etf ceo tom liden, tom, good to see you. Are you seeing interest in investors in things like this in terms of etfs having to do with whatever is benefiting like the pharma sector or ppe equipment, et cetera . What kind of an investment reaction have you seen, tom . Tom absolutely. Things surely have changed. We have seen a big shift in the Way Investors have been looking at the markets these days and trends have been clearly in place. Work from home has surely affected the way we have seen flows in etfs. Its funny, the nasdaq 100 or fang stocks have performed up well. They are fraction up year to date and when you talk about stocks like gilead a biotechnology, bbe that has 10 of holding within that etf. So theres always etf to handle certain areas of the market for sure. One area thats really important to take a look at is gold, gold is up over 13 year to date. The biggest etf. Gold etf gld. If you feel like the president s plan is great, look outside of the u. S. , theres opportunities, emerging market etf dbm, has currency adjunct as well. Maria but tom, youre talking about emerging markets and we just had the news that beijing reported its First Quarter gdp contracted, 6. 8 , that was the first ever contraction since officials started reporting the data more than 25 years ago. So isnt that going to have an impact on emerging markets and other emerging markets in addition to china . It has a contraction in the first gdp, tom. Why would i want to buy markets right now . Tom if we are feeling encouraged of getting back to work and encouraged of getting out again and getting the economy going, we need to think moves ahead and in this case emerging markets would supply the u. S. With a lot of different materials, are going to get that extra um, if that we need. Dont just look at the u. S. As most investors have. Maria tom lyden, thank you so much. When we come back President Trumps 3phase plan to open back the economy, back in a together, well weather this storm. Moment. Rotected, her strength respected. Depend. The only thing stronger than us, is you. I often get asked what should i do if i think i might have corona virus . People who are sick should stay home. You dont go to an emergency room. You dont go to a clinic. You get on the phone and you ask for advice and instructions from your physician. We dont want you to go into the e. R. Or the Doctors Office without talking to them first, because you might spread corona virus to someone else. Please visit coronavirus. Gov for more information. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Maria welcome back, reopening the economy. President trump is outlining his 3phase plan for governors to restore normal life in america. My administration is issuing new federal guidelines that would allow governors to take a phased and deliberate approach to reopening their individual states. Our approach outlines 3 phases in restoring our Economic Life. We are not opening all at once, but one careful step at a time and some states will be able to open up sooner than others. We are starting our life again. We are starting rejuvenation of our economy again in a safe and structured and very responsible fashion. Maria the president said that phase 1 can begin soon in many places. It would encourage strict social distancing rules but would allow large venues and sports venues to reopen. Lets talk about this, Dagen Mcdowell, how quickly do you think states would move toward adopts the guidelines in some restaurants in order to have the social distance requirements will probably have to retro fit or change their makeup of the actual layout, what do you think . Dagen and you also have to get consumers willing to go back into restaurants and be back out in society in a way close to what we used to, certainly not what we are seeing in places like new york city. New york and the surrounding states have extended that pause until may the 15th, but so important that President Trump emphasized that this is a state by state, governor by governor decision because new york, new jersey and connecticut and surrounding area its not like out there somewhere in the midwest or parts of the south where you have dense populations. One of the things i want to bring up about antiviral remdesivir. This was actually leaked information. This wasnt official release, 2 phasethree clinical trial. This drug, this is the kind of thing that will allow the United States to reopen much sooner. We dont need to wait for a vaccine if you have an effective drug out there that can treat the most severe patients. Maybe we dont get back to concerts and large gatherings but this could be this is why youre seeing such a reaction in the market because this is what will save businesses since democrats are sitting on their asses and wont fund Small Business protection program. They dont care they turned their backs on the American People. This is this shall decease this is private business, this is healthcare ready to reopen the economy if its as effective as this initial report says. Maria yeah, alli mccartney, investors are buying into it but is this a shortterm optimistic move, do we need more . Alli, thats the question, investors are largely and institutionally fundamentally position, ie, they feel comfortable. The volume has been really light, you have a bit of positive news and bit of negative news like you have today and you see people coming in. I think that ultimately we are not going to get back to work until we have something that makes this not life threatening. Thats the issue and so when you hear even on rumors something as substantive as where gilead and moderna are today thats optimistic and we are humans, we want to be programmed psychologically to look for the positive. Maria lets slip in the break. When we hope back i am talking to ceo of verizon.