Clawed back, closed up 26. S p 500 up 12. Nasdaq gaining one. 25 on the day or 105 points. Lets go back to the dow. Industrials, boeing, raytheon. Some worst performers and the ramped up trade tensions with china. The white house blames beijing on the coronavirus. Legendary investor Warren Buffett dumping his entire stake. Barclays downgrading american and delta on debt concerns. Look, Raymond James came out and thinks demand may have bottomed. Is this a bottom for the Airline Stocks today . Big tech also saw a comeback after the losses last week. Apple is updating math book pro. How about m a . Merger monday. Intel buying Transportation Technology company move it, all green on this board today. Energy was also a winning sector. Oil back with a 20dollar handle. It is up four days in a row right now. Exxon, valero, others rallying bigtime today. Production cuts, opec plus, plus some other cuts here in the u. S. With those shelled off wells taking 13 to 15 million perils per day off the market that is helping the oil. Phillips up 11 to exxonmobil. Back to you guys. Melissa lauren, thank you. Lets go over to blake burman in washington for the latest developments from the white house. Blake . Reporter melissa, we heard from President Trump in the fox news town hall last night what he wants to see in the next relief package that could potentially come down the line saying his red line is a payroll tax holiday own the employee side. Within the past hour here we heard from democrats as to what they would want to see in this next package as well. Chuck schumer just took to the senate floor as senators were called back into town and he laid out the following, more money for hospitals, hazard pay for essential workers, relief for those making home payments and more funding for states. Now senator Mitch Mcconnell has said whatever might come next must include Liability Protections for companies. So youre getting a sense now what everybody here at least the main players here in washington want to see. However schumer described those Liability Protections as he sees it as unnecessary, unnecessarily protecting corporate america. Listen. The republican leader said his red line in a future relief package is not a National Testing program, it is not more help for Small Businesses, or Housing Assistance for families, it is not rescuing our health care system. Leader mcconnell wont support new legislation to fight this evil disease unless it gives big corporations legal immunity. Reporter so that is the take from democrats today. Schumer called for fed chair jay powell, the treasury secretary Steve Mnuchin and the top two doctors on the Coronavirus Task force, dr. Deborah birx and dr. Anthony fauci to go on capitol hill to testify. There remain as question whether the white house allows that. Speaking of the white house were receiving pushback from them with a new report out from the cdc, that roughly 3,000 people could die starting june 1st a white house spokesperson says the following in the statement about that cdc model, quote. This is not a white house document nor has it been presented to the Coronavirus Task force or gone through inneragency vetting this data is not reflective of any modeling done by the task force or data that the task force has analyzed. Melissa, connell, back to you. Melissa blake, thank you for that. Connell . Connell melissa staying in washington now. Edward lawrence is next up with the latest on the paycheck Protection Program. Edward . Reporter connell the Small Business administration is processing through 35 billion a day with the second round of funding for the Payroll Protection Program. If you do a little math the program could be out of money this week possibly, on wednesday. Looking deeper into this, it is going faster than the first round of money f you look a little deeper into the number, the overall average size of the loan is 79,000. There have been 2. 2 million loans written. 2. 2 million Small Businesses helped. The total process through the Small Business administration now, 176 billion. The administration saying the program helped 30 Million People stay in their jobs with the first round of money and believes it will help another 30 Million People with the second round. Treasury secretary Steve Mnuchin says he is not looking to reup the funding for the Payroll Protection Program but senator John Barrasso today now says the program has been so successful it may need additional money in another stimulus package. 71 of the loans are for 50,000 and under. 50 of the loans reaching Small Businesses. All this has a cost. Senior treasury official says about a day, or an hour ago, 2. 99 trillion is how much the u. S. Will borrow in the Second Quarter alone. More than the entire borrowing of all of last year and thats because of the coronavirus stimulus money being spent, also reduced revenues coming in for the federal government. The last Second Quarter record that this one shattered was back 10 years ago for 344 billion is what the u. S. Government borrowed in that period. Back to you. Connell that really is amazing. Edward, thank you. Melissa. Melissa lets bring in Dan Henninger from the wall street journal. He is also a fox news contributor. So, dan, as we talked about thats enhanced Unemployment CompensationWalking Around this weekend i talked to four different Business Owners who wanted to reopen a starbucks, Dunkin Donuts, hair hall son and restaurant, but could not get employees to come back because the employees were making more money on unemployment than working at the restaurant. At the same time the owners said one had taken the ppp money, was sad about it, now it was was a loan they had to pay back because they couldnt get employees would not come back. We qualified but were not going to take it. This is like musical chairs, depending on your state at one point the unemployment ends. It could be july in some places but depending what your state is, at that point the music ends there will not be enough jobs for all the people who are on unemployment because things will have disappeared. So when do people make that calculation boy, i better grab a job while i can before the music stops . Because even though i take a shortterm hit, when it is over there may not be a job for me if i dont . When do you think people make the calculation . Well they probably should be making it pretty darn soon. As you describe it, melissa, it is really, it is not grimsley amusing. It is just grim to see the disincentives that the federal government has built in to the process that is affecting both Small Business people, employers like the ones you were mentioning, franchisee who owns a starbucks or Dunkin Donuts or indeed the people who used to work for those little shops before the government ordered them to shut down. The payment Protection Program, as Edward Lawrence says, 79,000. 75 of it has to go to rehiring workers back. Unfortunately the cash flow in these places is zero at the moment. So they dont need 75 of their workers to come back. Many are telling them, quote, unquote, come back but stay home. Meanwhile, one of the cares act with the 600dollar Unemployment Insurance bonus, averages out to about 1000 around the country. It is indeed helping people but that too has created a disincentive for people not to go back. So here we are in the midst of an opening, melissa. We have disincent tiffs on Business Owners and for people to get back to work. Melissa dan, how do things like this happen because in advance of it you might have the time to do the math, say, wow, there are people on the margin who wont come back, because they will make that calculation but then to see it play out in real time, hear this same story from people who are prying the wood off the front of their starbucks trying to reopen, saying i cant get my people to come back . Or even the hair salon who has somebody works there for a long time, theyre saying she is not willing to come back right now, she is saying, look how much money i have been making . These people had relationships with their employer for a while. To see it play out on such a grand scale, how could they not anticipate this would be a problem . How do you fix it . Well, it was emergency legislation. Pretty much false under the heading of the famous saying were the government, and were here to help. They put in the 600dollar bonus because they couldnt calculate it on a state by state basis fast enough. I think the answer youre asking earlier, melissa, is that look, the reopenings began this monday or starting this week and it is going to be like a rising ocean tide pulling people back into their shops, reopening them, looking for workers. I think that reality is going to settle in on people. Many of whom worked every day of their lives for all of their lives, last 20, 30, 40 years. The question is, are they going back to take that job that a grateful employer wants to give them or sit home, accept the slightly additional bonus from the Unemployment Insurance . My guess, melissa, that human nature will pull people back into the jobs gradually across the united states, and a very small number of people will sit home just bagging the Unemployment Insurance. Melissa no, i think youre right. Probably this was the first weekend where it looks like things might reopen, so people were like, no, no, i dont want to come back. As you see more things on your block, see more people out and about, number one, want to go to work, and think, maybe that job wont be there when i finally go back to it. Dan, always interesting to see how economics play out in real life. Thank you. Connell. Connell Companies Working together to develop Contract Tracing technology which is supposed to help slow down the spread of coronavirus and today it was revealed what that new system will look like. Susan li joins us with some of the details. Susan very exciting. Technology of tracing covid19 a step closer as you mentioned. Apple and google teaming up to with their operating systems and their software to power these apps which might trace individuals who have covid19 and those they come in contact with and bring up the graphs what they look like. They will be written by governments and apple and google will provide the technology and the code. User interface is comprehensive system. Kind of like a app you use for a lot of things. You have to enable it to give it access to your location. Bluetooth is key. That is how the phones communicate with each other. Exposure alerts and information inputs and of course masking. Privacy is probably the biggest question here. We have pass codes that need to be entered. Masks, individuals who up load their status on to these apps, they will not be able to be tracked and traced at least individually, names at least. Pass codes need to be verified as well. Speaking to tim cook last week during the earnings and also asking about this pairing up with google in this covid tracing software, i asked them why they were doing this . If we could bring up the tim cook quote, look it is another tool in the tool kit, getting economy back up and running and back off. It could be bigger and work with google. You would have both operating systems. Volume would be much higher. Yes absolutely true. If you think about it, iphones, ios around android power close to 3 4 of phones currently in use on the planet. Looks like were a step closer to getting some of this App Technology and ios Software Technology in use. I should point out, they say after covid is contained whether through a vaccine, whether we see numbers go down, they will remove access on both operating systems. Guys . Connell right. That is something people would obviously be worried about. Well talk more about this. Thank you, susan. Melissa. Melissa more than 3. 5 million cases worldwide and with 1. 2 million related here in the u. S. The World Health Organization says more than 100 vaccines are being developed across the globe right now as we speak and at least eight are in the early phases of human trials. U. S. Head officials warn it could take longer than expected. Well have the latest on the pandemic this hour. Plus, restarting the u. S. Economy, at least 15 states easing some restrictions today, including florida, lucky them. Kicking off what it calls a smart, safe, step by step plan to reopen businesses. Were live from key largo on where things stand. 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 heres the thing about managing for your business. S when youve got public clouds, and private clouds, and hybrid clouds things can get a bit cloudy for you. But now, theres the Dell Technologies cloud, powered by vmware. A single hub for a consistent operating experience across all your clouds. That should clear things up. Swithout even on yoleaving your house. Just keep your phone and switch to xfinity mobile. You can get it by ordering a free sim card online. Once you activate, youll only have to pay for the data you need saving you up to 400 a year. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Melissa slowly but surely florida is one of several states to begin phase one of reopening today. Lets go to fox newss phil keating who is live in key largo, florida. Phil . Reporter good afternoon, melissa. Getting back open is a slow and steady process for the sunshine state. As of this morning phase one of reopening kicked in. That means a lot of things including most restaurants in the state like this one are allowed to have inside, in table dining once again. Here at harriets in key largo it only has been takeout for six weeks. Today customers once again ate breakfast and lunch sitting at tables. James carlisle could not wait. You get kind of tired of takeout food every day. They have the best breakfast in town. It is a nobrainer coming here. Reporter most state parks also back open today, also most beaches. Here is a live look at Clearwater Beach west of tampa. Social distancing still being enforced. Floridas phase one means restaurants and retail can resume inperson business but 25 of capacity. Elective surgeries can resume. Social distancing restrictions remain in effect and masks continue to be encouraged. Still closed are schools, bars, gyms, spas and salons. No visitors at Nursing Homes other facilities. State has half of covid19 cases in deaths for miamidade, broward, palm beach counties, everything there, the shutdown stays the same. After weeks of lockdown, floridians over the weekend vibrantly showed theyre tired of being at home, want to get back out and get things open as crowds at marinas and parks quite large. A lot of people getting turned away. Melissa. Thank you for that. Phil keating, connell . Connell we have reaction to phils report from the Lieutenant Governor of the state of florida, jenette nunes. To follow up what phil was saying there, gradual, day one of phase one but your observations how the reopening is going so far in your state . Certainly. Were really excited we were able to unveil the governors plan, safe, smart, step by step plan, would allow for floridas economy to open back up. As you mentioned many businesses have been shuttered. So right now restaurants are able to open at limited capacity. Weve seen retail at limited capacity. Floridians are ready, were doing it in a way to be attuned to the data that were seeing, making sure the phased approach is in alignment with the Public Health data we received. That is the focus of the governors, to be data driven. Also to be mindful how we unveil these openings. Want to make sure we build upon it, not take steps backwards. Connell a lot of people watching your state quite close live. As you know about a month ago your administration led by Governor Desantis was criticized fairly widely. They didnt shut down soon enough in florida. Prediction made by some cases would really spike and florida would essentially turn into new york. So far that hasnt happened. Have you learned anything in terms of what the key was not having a worstcase scenario play out in florida . Was it weather, density, something the government did, have you learned anything. Absolutely. What i would say Governor Desantis took really important steps such as being one of the first governors to limit visitation to Nursing Homes. That has been critical in terms of our strategy. Also his approach which was criticized, i think was it is okay to be biased if youre reporting. It is not okay to