From washington on that promise. And the president also reiterated its call for america to reopen as some large malls and retailers are set for a comeback but what will Stores Look Like and are shoppers going to be ready to return . We have all that, a lot more, coming up in the next hour on making money. Cheryl more economic fears are surfacing as the United States is probing chinas role in starting the coronavirus pandemic. At the same time fox is confirming the white house has been given new projections on cases and deaths as states begin the process, some states, any way to try to reopen. This is just hours after the president said that we could get a vaccine by january. We have blake burman in washington. He is live there with a lot more. It has been a fastmoving day for news as usual. Blake . Reporter hi, there, cheryl. That is certainly President Trumps hope or belief going forward. Remember it was just dr. Fauci a few days ago said getting a vaccine by january is something that he could not confidentially say would happen which fits into the 12 to 18 month timeline that the nations top Infectious Disease doctors has been talking for weeks and months. At last nights fox news town hall President Trump was more confident that he says he believes a vaccine could come this calendar year. Watch. I think were going to have a vaccine by the end. Year. You no the doctors would say well you shipment say that i will say what i think. I met with heads of companies. These are Great Companies. I think well have vaccine much sooner than later. I think that will be done. Reporter you mentioned projections, cheryl. There is an internal cdc model garnering attention today as it predicts by june 1st, roughly 3,000 people daily could die from covid19. That could be escalation for where things now. Fox was told does not take into account continued mitigation guidelines. White house is pushing back on this model. Here is what a spokesperson from the white house said. This is not a white house document, nor has it been presented to the Coronavirus Task force or gone through inneragency vetting rather. This data is not reflective of any of the modeling done by the task force or data that the task force has analyzed. Theyre pushing back on that 3,000 death count per day by june 1st prediction, cheryl. Fox is told this model has been compiled essentially by fema and by the cdc, that was put together in an internal brief was involved with a Johns Hopkins University Model as well. Cheryl. Cheryl the models as we have been over the last couple months been all over the place as is. So that makes sense the house is pushing back on those reports. Blake burman live in washington. Blake, thank you very much. Lets talk about what is happening with the chinese. What would the fall out look like if a new trade dispute grows from this pandemic. Want to bring in from Kings College manhattan, Fox News Contributor Brian Brenberg and independent womens policy analyst, patrice lee onkuwa. Brian, president making remarks there potentially could be new tariffs against the chinese. The phase one trade deal could be in jeopardy. There seems to be a run on china if you will. Do you think that would be a good idea, would it help the u. S. Economy . Well, cheryl everything has to be on the table here. Clearly china needs to be held to account but lets remember what the goal is. Were looking at china and were seeing all sorts of risk in the supply chain there, in manufacturing happening there. Thats the problem that we have to solve if we want to derisk that, if we want to prevent some problems weve seen. It is about giving American Companies to do more here. So i think the real key at the end of the day probably isnt going to be tariffs, those have to be on the table, it will be things like tax reform, immediate expensing for Capital Expenditures and regulatory reforms. Kinds of things that get American Companies back to the u. S. That is ultimately how you solve the problems that were seeing with chinese supply chains right now. Cheryl patrice, were having a conversation almost daily now, in particular look at the amount of ppp that has been held up by the chinese or at least in china, if you will. Those shipments. How many states we heard from, they have been basically told they cant get ppe out of china, or if they were willing to pay for it, it is an exorbitant amount to get a mask or ventilator . This certainly confirms what i think a lot of americans suspected, china has been trying could cover its tracks by limiting the supply of ppp. I think a new dhs report out today looks at the fact that China Limited its imports but, expanded its exports. It is interesting to see how china tried to manipulate the supply chain when it comes to medical supplies. I do agree with brian there, we need to insure a lot more of what we produce, not just ppp, ppe but also you know, on our vaccines, our medicines, our pharmaceuticals are actually, developed and produced here in the United States for our safety. It is a National Security issue as well as an economic issue. Cheryl one of the things, brian that would need to happen if we were to actually move the majority of manufacturing back to the United States, you would need tax reform, you would need regulatory reform, in particular taxes. We do know that we always heard from many businesses it is cost prohibitive to manufacture things in the United States. Does this really change the conversation meaningfully now, do you think . I think the one thing that changes the conversation, i think American Companies have woke ken up to the risk of manufacturing in china that might be other countries outside of china but should be the United States. We got to get back to a conversation that has been on the backburner for a while which is tax reform. We should be talking about how to make it cheaper for companies to invest in reserve search and development and manufacturing, buying new equipment an plant right here in the United States. Same thing on regulatory reform. Thats a hard conversation when the federal government is dominating so much of the economy right now but if we want to grow, if we Want Companies to come back that is the conversation. We have to get back into this year, not next year, this year. Chairman cheryl go ahead, patrice. I was just going to tack on. Labor costs are a huge driver for a lot of American Companies which is why they looked overseas to produce a lot of things we rely on here. We cant leave labor out of the discussions. I think a lot of proposals that weve heard which would increase the cost of labor is going to make it really difficult for American Companies to make the decisions, to bring work back or start to produce here in this country. Cheryl patrice, i was going to ask but the vaccine story. Weve seen johnson johnson. Weve seen a multitude of Americans Companies that will push through a vaccine. Now you have talk whether from fauci or the president about fasttracking the vaccine, january would be an incredibly fast timeline in the regular bureaucracy that is the fda. Do you see meaningful change in regards to getting a vaccine done . I think so. I think there is a lot of energy line pushing through a vaccine. What is interesting, when you read what the experts have to say, they can produce, they can design and manufacture a vaccine pretty quickly. It is Clinical Trials that take a long time, getting fda approval process. Weve seen the fda cut some red tape and i think unnecessary hurdles that they put in place where, for pharmaceuticals. Maybe this is an opportunity for them to do the same. I will draw your attention though to sars. In 2003 sars broke out. 10 years later you had vaccines that were still under development and approval process and were ban dodded because the abandoned because the process takes so long. Hopefully we dont see it happen with the coronavirus. Cheryl i agree 100 , patrice. It is powerful voice from fauci and dr. Birx. We need treatment now. Good to have you both on the show. Good to see you both in the afternoon and in the mornings. President trumps tariff threat to china is weighing on the stock market. The dow right now as you can see down 200 points. That is almost 1 . The nasdaq hanging on. Some of that is the technology story. Warren buffett, big story today for the market sending Airline Stocks to nosedive after revealing that berkshire cashed out its stakes completely in american, delta, united and southwest. Oracle of omaha questioning whether people would fly as much in next two or three years as they did last year. Want to bring in money map chief investment strategist shah gilani. I guess the big question, were you surprised that buffett sold out of the airlines . I actually was, chairman, i thought he would stick around a little longer looking for a bounce. When an investor the size of Warren Buffett in his position in airlines is dumping. He dumped cheryl, in april. His prices were certainly not anywhere near the highs. They were near the lows. I think that statement tells all other investors that if Warren Buffett doesnt see a Bright Future for the airlines, for the economy for some time to come he is willing to take that kind of a loss, that quickly and be done with it, that doesnt bode awfully well. Cheryl obviously if you have got, he said this over the weekend, if you have 70 , 80 capacity, that is still a lot of empty seats and you have got too many planes. What the airlines had done, whether this was a good or bad decision they were going on a buying spree as well as, you know anyway, buffett sold about six billion in securities in april. That is a pretty bearish move in general for him. It is. I think it is justified, cheryl, because the weight of the economy will continue on the stock market, certainly on the Companies Like airlines, like cruise lines, the industries that have been hit very hard, hotel industry, and i think as we go into the next month, two, perhaps through the summer, the way that the economy, the weight of unemployment numbers, the weight of new, continuing unemployment benefit claims is going to put pressure on the market. It had a tremendous bounce, tremendously resilient. Even last week when things looked pretty rough on thursday, friday, netnet on the week the market was only down. 2 t was really nothing. Here we are a off a little bit but here the market has some resilience. It is all about earnings. Buffett pointing to the airlines and the likelihood of their earnings being decimated for months, quarters to come, will probably be the same idea that the rest of investors will have eventually. Cheryl i am glad you brought up earnings because it is difficult to get guidance for most of the companies we follow, the large caps any ways. This is the week we get the jobs report for april. Are we in for some type of a shock . Are we living with rosecolored glasses right now, this jobs report on friday isnt going to be catastrophic . I wouldnt say so because the market, whether you want to call it rosecolored glasses or discounting all the bad news has looked past very, very bad numbers and continued to bounce off the march lows. Cheryl thats my worry. I worry about that too, cheryl, but so far so good for the market right now. The question, will earnings bear down on market investors. Will they start to realize without Forward Guidance how do you actually price securities . If you are looking price earnings multiples, what earnings . This is becoming increasingly difficult to value these companies that i think a lot of investors are stepping back, thinking, lets see how the Second Quarter goes and some of the numbers are so dire there, if we get those kinds of numbers, maybe that will be a bottom. Cheryl 30 billion initial claims in six weeks. How many of those jobs really come back, even in the second half of the year . I dont think we have the answer yet but i dont think till with be a good one. Shah, always good to have you own the show. Thanks, shah. Thank you. Cheryl well, more than 30 states across the country are preparing to reopen. Coming up next im going to get reaction from fox nations david webb. He always has been opinion. He is always fun to talk to. One louisiana Small Business owner shares how she is not only keeping her employees jobs intact but also is hiring during the pandemic. Her story at 2 45. Stay with us. re in this alone. 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For more information on how you can stay connected, visit xfinity. Com prepare. People are absolutely scared but there are other people that are scared about being locked in a room and losing their job. Not having income. These are people that want to get back to work to make a living and theyre afraid their job will not be there. At a certain point if you keep it going too long, thats going to happen, so i understand that very well but i think it is all working out. The numbers are heading in the right direction. Cheryl President Trump acknowledging americans fears about the coronavirus with some scared about getting sick, others are scared about losing their jobs, maybe their homes for good but the president does say the nation is ready to begin reopening. In fact more than 30 states have begun the process, including taking 15 major steps today, including return of elective surgeries, limited retail reopenings, construction, restaurants, bars in some places. Bring in fox nation host david webb. David, what did you make about the president s remarks . He did tap into the feeling for most people that they have been couped up and theyre scared, theyre very scared about the future . Well, they are. Look, people have a reasonable fear that coronavirus is a threat to them. They have an even bigger fear than the cure, which is staying shut down as economy is worse for them and their families. I share this with everyones, cheryl, look at governors executive orders. Theyre easy to understand. Understand the different guidance that comes with it. There is something in america, we inknow evade. On radio they call, i own this kind of business. I will solve it. You have the personal protective equipment, you have the practice. Not every state or Governors Office can go to the businesses saying this is what works in your building. People have to be allowed to make reasonable decisions to follow the guidelines and theyre will be to do that. Why not let them do it . Why do you send 100 people into a walmart and not someone go by buy same article of clothing or something at a local shop . This is ridiculous. We need prudent steps forward. Cheryl what do you make of the president s change in tone about the number of projected steps . That really surprised me. 465,000. Now the president saying more like 100,000 . Some say you might have more deaths projected. The other side youre saying lets reopen . Where is the balance in this, david . Well, one it is not an either or which you are not presented but a lot of people do. It is either or it is a false choice. There will be deaths associated with this. There will be spikes in some areas and there will be dropoffs in others beyond flattening, complete reversal. We have to assess each individually. You and i for years, what do we do . We talk about business sectors. We talk about overlapping components of the economy. Intrastate and interstate commerce. Lets look for the economy what it is. Lets accept we have a better biological fight because of therapeutics, developing treatments. Yes were testing vaccines but right now were learning more about this virus and how to combat it. Which means the public is learning more how to recognize it, possibly. How to treat it, how to take more action. Information, one of our biggest weapons against this. So were growing, evolving just like the situation is evolving. Lets make assessments, recognize the risk, put practice along with protection. When you put those two components together, this economy will function. Our fundamentals are still there. But we cannot erode the foundation that we built over the last three years. We need to really get back to work wherever we can and we have to do it with the help of American Innovation and thought process, not government coming in saying this is the cookie cutter approach. Cheryl the private sector, i have a to applaud so many of our nations pharmaceutical companies, cant believe im saying that, the fact they pushed so quickly, so hard to get vaccines to, get treatments, to find drugs that work. It is really breakneck pace. I have never seen that before i dont think in that industry in particular. David, always great to have you. Great to see you, cheryl. David webb from fox nation. Watch him there. Coming up this thursday, 1 00 p. M. Eastern time, ken langone, Bernie Marcus will join neil cavuto for our americas works together virtual town hall. If you have question getting anything, paying loans, getting rent, unemployment, mention fox business on the Facebook Page or Instagram Account or email invest in you foxbusiness. Com. Make a video asking a question. You may see yourself on tv. Malls are looking to make a comeback but are shoppers going to flock back in the midst of a pandemic still underway. Well talk to one person about that one. Landlords grappling with another month of missed rent checks. Well look how the virus reshaped the Real Estate Market and if those changes will be longlasting. This is an athlete, twenty reps deep, sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. Shes confident, protected, her strength respected. About medicare and 65, ysupplemental insurance. Medicare is great, but it doesnt cover everything only about 80 of your part b medicare costs, which means you may have to pay for the rest. Thats where Medicare Supplement insurance comes in to help pay for some of what medicare doesnt. Learn how an aarp Medicare Supplement insurance plan, insured by United Healthcare Insurance Company might be the right choice for you. A free decision guide is a great place to start. Call today to request yours. So what makes an aarp Medicare Supplement plan unique . 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Two this type of plan allows you to keep your doctor as long as he or she accepts medicare patients. And three these are the only Medicare Supplement plans endorsed by aarp. Learn more about why you should choose an aarp Medicare Supplement plan. Call today for a free guide. Cheryl as states begin to loosen their restrictions many malls beginning to reopen around the country. What will malls look like postcoronavirus . Will shoppers actually return . A lot of them were leaving before this all happened. Grady trimble joins us live with all of that. Grady . Reporter cheryl, i would say Simon Property group, one of the largest mall owners in the world is reopening its malls kind of. Theyre allowing retailers to decide whether they want to open up their stores. So this macys for example, 68 locations across the country for macys are reopening today. This is not one of them. The doors are closed. You cant go through the entrance. In fact all of the Department Stores in this particular mall in indiana are closed. So all the customers are having to enter through the main entrance. When they get inside they will notice big changes. Simon Property Group is limiting number of customers allowed in the malls. Theyre cleaning higher traffic areas. In addition to that, play areas will be closed, water fountains will be closed, food Court Seating will be limited to maintain social distancing. Employees will have to wear masks. Theyre strongly encouraging customers to wear masks, to take their temperatures before they come to the mall. I talked to somebody who went inside of this mall not long ago. He said, he went for a haircut which i think we can all ayee we need right now, but not a lot else was open. Shoe store, and another shoe store. That is really it. I didnt really go in the mall to look around. Everything closed. Food court closed everything. No point going in there. Reporter he told me even the lights were off inside of the mall. Kind of an unusual time to visit a mall. I do want to bring up j. Crew because retailers have been struggling as weve been talking about a lot j. Crew becoming the first major retailer in the United States to filed for chapter 11 bankruptcy protection today. It reached a deal with its lenders to convert its 1. 6 billion in debt to equity. So a lot of trouble for retailers, cheryl. There are some that could file for bankruptcy in the near future if these closures last quite a bit longer. Malls are doing their part to try to reopen, get things back to normal, doesnt seem cheap with chomping at the bit to get inside today. Cheryl well see over the next few weeks, if that changes as states reopen. Grady, thank you very much. Great report on how retailers are doing. There is another side of the retail story and thats real estate. For Many Americans the first of themont has come an gone figuring landlords what to do next, whether commercial tenant or regular renter would not pay rent amid the pandemic. What is the next step . What does it mean for real estate on commercial and residential side . Sam debianchi is cheer. Grady was talking about, a lot of these commercial properties will be in trouble here as more smaller businesses go out of business, dont come back from the pandemic, what do you say . Sure. It is really hard to tell exactly how things are going to play out for now. For me, i own a lot of residential properties. I own nine Single Family homes. It is a bit scary and concerning but at the same time, real estate, no matter residential or commercial is about adaptability when you own these properties. For example, my renters cant pay a full month, continue later on. Pay me a half a month now, rest of the month paid back, i have some people doing landscape work, handyman work, cleaning walls. Adding to my property. It doesnt always have to be money. This can be commercial real estate as well. So there is lots of ways to be creative to make it work. As far as my new tenants on the residential side, you know, im being a lot more strict, so i require everything from a background check, credit reports, income verification, renter insurance, by the time im done with the renters, i can tell you their favorite color and lucky number. That really needs to be done. As far as up front money, first month, last month, and security month which is full month. Some tenants are also require first, month, second month, last month and security. Some people say, well isnt that too much, isnt that scaring some people . But i have yet to really get any resistance from my tenants. You know, im in a good position but again, you know, it is working with people. It is listening to people. It is not being that big bad landlord. You know, you got to make it work. Cheryl well, we, it is tough, because i know some people, quote, ma and pa investors that bought a few different pieces property or whether airbnb, they have got tenants and that was their income and their dream and theyre getting hit now. I want to move on. Youre in south florida, i want your thoughts of three counties entering phase two of reopening. How is it going down there . It is going. It is interesting. Im in Broward County in fort lauderdale. Everyone is extremely anxious to get things reopen. I walk every evening with my husband down the boulevard which is the downtown area and everyone is walking, biking. I mean it is a very active community. Everyone is kind of out of side of these restaurants, getting take out, really wanting things to open. But i think it is so important we do things in the manner in which they need to happen. So slow and steady. The last thing we want is to have to open up too fast and were back at square one again. As far as real estate i still have tons of people calling, hey, i want to buy down there. I get some people from new york, hey i want to buy down in south florida. When are things going to reopen. I hear you. It slowed down cheryl i got to run but i will tell you something, Charles Payne producers put up clearwater, florida, that is where i was born. That is where i need to buy. That looks pretty good as a lady stuck in manhattan for eight weeks. I will have to call you about that. Sam, thank you very much. Good to have you on the show. All right. Clearwater, florida, everybody, good place. Talk about italy. It is one of the hardest hit countries from the pandemic. They are beginning to emerge from lockdown. That is starting today. Should they have embraced swedens controversial approach to the pandemic . Well explain that next coming up next. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief cheryl well, italy beginning to loosen its lockdown ending what has been the longest closure in europe. Restaurants and factories will be allowed to reopen in limited capacity. People will be able to gather in small groups there. Now sweden continues it controversial pandemic policies keeping economy open, encouraging citizens to be socially distant. Editor, author, false alarm, how Climate Change panic causes us toe lose millions, bjorn lon boring. Did sweden make the right decision . I think well have to see. There are a lot of things argue what they have done is scientifically correct thing. Everybody talks about how we need to flatten the curve. That is exactly true. We have to keep the amount of infections below the capacity of the health care system. That is exactly what sweden has done. They managed to do so without actually telling people what to do but asking people to do the smartly. Remember, if you go further than that if you go to the really strong lockdown, which many states have done, remember, italy, probably had to do it for a while, but if you go to a strong lockdown, youre basically just pushing your problem in front of you because as soon as you open up, youre going to get many of those infections anyway. So in that sense, sweden has simply done, the smartest and most appropriate way, but they will also be overit pretty soon. Cheryl let me ask you though, i was looking at numbers, comparing sweden to denmark and the deaths in sweden, 2194 as of saturday. The deaths in denmark, 422. Denmark has pretty much locked down where sweden has not. No, absolutely. And look, sweden has many more deaths. Remember, also sweden is twice as big. But certainly sweden has many more deaths s that the question they have gotten many more infections and further ahead in the development of of the disease . Models seem to indicate now, these are the official models in stockholm you had some people get infected that they expect by the end of may, you will either be very close or actually have herd immunity where as in denmark, you have 3, 4, 5 with the disease. So youre far away. Denmark will have to keep lockdown, even if it devolves, it will have to get many, many more deaths whereas sweden is already through. Can open up its economy and live a much better opportunity, much better life. Cheryl still hard to see the numbers and think about all those lives we lost so far but the answer, we dont have it yet. We dont have the immunity answer. Wish we did until scientists tell us for sure there is immunity to the disease we have to be careful. Bjorn, thank you very much for being here. Im out of time. Good luck with the book as well. Thank you. Fox business is going to take a deeper look into how one restaurant is adjusting to our new normal while protecting its customers when it reopens. Plus one louisiana Business Owner shares how she is not only keeping her employees jobs intact shes hiring she joins us. When we started our business we were paying an arm and a leg for postage. I remember setting up shipstation. One or two clicks and everything was up and running. I was printing out labels and saving money. Shipstation saves us so much time. It makes it really easy and seamless. Pick an order, print everything you need, slap the label onto the box, and its ready to go. Our costs for shipping were cut in half. Just like that. Shipstation. The 1 choice of online sellers. Go to shipstation. Com tv and get 2 months free. Shipstation. The staying connected your oway youre just a tap away from personalized support on xfinity. Com. Get faster internet speeds with a click. Order xfi pods to your home in a snap. Or change your Xfinity Services with just a touch. All in one place. Youre only seconds away from all of that on xfinity. Com. Faster than a call. Easy as a tap. Now thats simple, easy, awesome. Cheryl the states start to reopen restaurants are being allowed to have Dinein Service again in some parts of country but these dining rooms will look very different. Fewer tables, disposable menus, to name a few things. Will this be realistic . Kristina partsinevelos has more from right here in manhattan. Kristina. Reporter im in oceana right now. This is an upscale, white table cloth restaurant and like you mentioned we are not just open just yet but you have states across the country slowly allowing restaurants to reopen. Here in new york city theyre still waiting for official guidelines when the reopening could happen. It could be weeks away. Meantime a restaurant like this one here, they have been closed since midmarch. I spoke to the managing partner who said how vital the ppp loans have been to his business. Listen in. It would have been extremely difficult to survive without ppp i think some restaurants will naturally close with all of the financial pressures but restaurateurs are realien. Others will come into the marketplace that open up restaurants. It is smaller momandpop restaurants you hate to see be pinched out of it where so much creativity has taken place over the years. Reporter ppp standing for paycheck protection program. Even though they have not received guidelines theyre paying close attention to what other states are doing. They are paying attention to what other states do to reopen. Im holding a leather bound menu, these will not likely be available for quite some time. Instead they use paper men use that are discarded once a person uses it. They will clean the utensils at high temperatures. Having one employee to wrap the utensils in cloth. You have tables, big white tables around me. There will be a lot more space. Which means they cant operate at full capacity. A private room like the one next to me will be closed for the timebeing. These are all just small measures that a lot of Restaurant Owners will have to think about moving forward including this one at oceana but like the managing director told me earlier, partner i should say, restaurateurs are very resilient. They will come through strong but it will be a while. Cheryl i will eat there in a hazmat suit as long as they bring back the salmon burger. As long as the salmon burg ser in im will be at observe think auna. Reporter i will tell them. Unfortunately the kitchen is close. Cheryl it is a great place. Glad to see observe think auna observe oceana. This is one of the largest meal Prep Companies in the nation theyre doing just that. They are helping struggling restaurants along the way, allowing rentals of their packaging facilities so they can ship nationally. Company founder joins us now. Ingrid, great to have you here. Thank you for having me. Cheryl how difficult has it been for you to kind of wade through this pandemic as a company . I think for any business right now you have to think outside of the box. Definitely we kept moving forward but we have had to space out our workforce. We went to 24 hour a day shifts. We are working seven days a week so that our employees feel comfortable spacing out, going home to share their families. Cheryl delivery meal, prep delivery is one of those pandemic industries that blossomed, have thrived. How have you handled the tranche new business because im sure you have been overwhelmed with new customers, folks at home but still want to have a good meal . Of course. We really focused on weight loss before but we found a new clientele that just wants the convenience of not going to the grocery, feeling safe, we use fedex safe to their doorstep. We actually have state of the art vacuum ceiling machinery. There is no way it gets contaminated once it leaves our kitchen into the clients hands. I feel that is big selling point for people right now. Cheryl you have big selling chains youre working with and going nationally and how do we find out which restaurants youre working with obviously if we want to buy your meals . Sensible meals, go to sensible meals. Com. But through that company we started rink packaging company. Were taking local new orleans area restaurants, were helping them not only package in the vacuum seal and ship nationwide a lost these restaurants were only at about 10 functioning you know. They were really struggling to keep the employees busy and with this we opened up the whole country for them. Cheryl if i want some jumbalaya in new york i can get it . Absolutely. Cheryl i want it confirmed. This whole show is making me hungry. Ingrid, thank you very much. Congratulations. I love what youre doing, helping out the fellow new orleans restaurants. They really need it. Thank you, ingrid. Were expecting a slew of earnings this friday. 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Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Cheryl the dow and s p are in the red as we head into the final hour of trading. Techheavy nasdaq is a little bit higher. What is in store for the markets this week as we get ready for another big week of earnings, plus here we go with that jobs report on friday. Lets get into it with Gibbs Wealth Management president aaron gibbs and er shares ceo and cio, joel shulman, who joins us by phone. Great to have you here. Aaron, i want to start with you. The elephant in the room is this jobs report. I was looking at the updated numbers just now, 16 unemployment rate. Yeah, this is going to be a big one. Obviously, theres a lot of uncertainty out there on wall street about whether its profits or jobs, so any surprise to the upside or downside could certainly move the markets. I think theres enough pessimism about the jobs report, there is such a big lag that i dont feel that even if the number comes in a little higher than expected, the market might not it might [ inaudible ] discount it so certainly we will be looking at but cheryl i hope youre right. 21 million jobs, thats the estimate and change. Joel, lets talk about how we handle these markets right now because a lot of companies we have seen, zoom, for example, netflix, even amazon despite what we heard on their earnings last week, these companies have actually thrived in what has been a very horrible market pandemic, if you will. What do you make of those names . Right. Well, they are all publicly traded Entrepreneurial Companies. This is really what we emphasize. We are up about 5 , 6 year to date when the markets down. So i mean, as you mentioned, these companies, and by the way, Seattle Genetics up 13 , there are a lot of great publicly traded Entrepreneurial Companies that really thrive in these markets. Traditionally, its the entrepreneurs that take us out of these messes. You can go back to 0708, even the great depression, we had a number of Great Companies emerge during that time. Cheryl the question then, obviously theres been some that have looked for the winners, again, like netflix or zoom, but how you buy into those is the question mark. Especially for the average investor, who is still pretty frightened by what theyre seeing. Right. One of the things you really have to look at is even though its very popular, do we really see the continued growth as we come out of this pandemic. Something like a netflix, unlikely. There are so many subscribers and we know how incredibly competitive that space is getting. One of the areas you might look at more would be like zoom, where people are getting more accustomed to doing conference calls, they have found that doing these types of meetings online actually does work, so try to think about what might still be out there because we have seen changes in behavior, more food delivery, just like your previous guest, more grocery delivery online, and these type of things might ultimately stay with us even after we are over the pandemic. Cheryl that goes back to your point, joel, about the Entrepreneurial Companies. On the phone yes. So you know, we agreed that these Companies Like zoom, like netflix, there are so many more, i mean, 20, 30 years ago people didnt even know about amazon and look at it today. Been a lot of great Entrepreneurial Companies and many people may not know about a company like maximo or Seattle Genetics or even regeneron which has been thrown out there as a savior of this covid problem. They are up 53 . A lot of great Entrepreneurial Companies well beyond netflix and amazon, and again, we are just scratching the surface when we look at the top five. They are all Entrepreneurial Companies but there are hundreds more in u. S. Large cap space and even in the small caps. This is what we focused on. Cheryl you know, we were talking about Warren Buffett at the top of the show, his decision to completely sell out of the positions of all the Major Airlines he was holding, which was four. In april he sold out of 6 billion in equities in the month of april. This is Warren Buffett. We listen to what he does. He sold. Certainly. And you know, that seems perhaps poorish timing considering it looks like the lows are march 23rd. I would say that if you are getting out of equities, it does look like the small and midcap space will be lagging for quite some period of time. Im really focusing on companies that have great cash positions, not too much debt. Southwest doesnt have such a high debt ratio, it has one of the better credit ratings. The other airlines are at risk when you look at their cash flow and debt and Interest Payments they need to make. And so its the money on the sidelines most likely when we really start to recover cheryl ive got to run. Thanks to both of you. Great to have you here. Liz claman, Warren Buffett, busy weekend. Over to you. Liz oh, man. But it didnt look busy because it was all virtual, due to the coronavirus. Cheryl, thank you. Wall street has managed right now to climb pretty much to session highs as we kick off this final hour of trade. Look at the dow. Yes, its still down 89 but it had been down 362 points. So were slowly chipping away at early losses. The s p is now flat to slightly lower. Looks like, feels like its about to turn positive. The nasdaq, which was down 67, now up 56. But look at the bottom number there. The dow jones transportation index, down a full 2. 5 . Well, tha
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