A situation that some are calling the deepest crisis ever amid the pandemic will break that down plus as the u. S. Continues to soar in corona virus cases will its Health Care System be able to handle the strain coming up we bring in our resident expert on this subject for the full picture with a packed show today so lets dive right in. And we lead the program here in the United States as President Donald Trump addressed the social distancing measures taken within the country to limit the spread of the krona virus during his Daily Briefing wednesday the u. S. President pushed back against the idea of a nationwide lockdown leading up to states to make the decision. There are some states that are different so there are some states that dont have much of a problem there is so low they dont have the problem they dont have thousands of people. That a positive with thousands of people that even think they might have it or hundreds of people in some cases so you have to look and you have to look at that search you have to give a little bit of flexibility even if a state. In the midwest or if alaska has an example. Doesnt have a problem so awfully tough to say close it down and the us president was also asked about travel restrictions in the u. S. As a way of mitigating the spread. I am looking at hotspots and looking where flights are going into this some of those some of those flights i didnt like from the beginning but closing every single flight in every single area and this is a very very very rough decision that we are thinking about. To you go from start to focus and well let you know fairly soon. And the u. S. Now has more than 200000 cases of crowd a virus with more than 5000 deaths now its time to take a look at another global look at how the world is being affected by this pandemic and for that were joined by our chief correspondent sari tabular saya tell us whats going on around you know the global virus has just reached over 1000000 cases and over 50000 deaths but i before i go over whats happening globally i want to mention that until last month the u. S. The worst week in the u. S. History for filing for unemployment was 695000 people and that was in 982 well as of now 6600000 americans filed for unemployment and that number is going to keep growing as 10000000 americans have so far lost their jobs and the u. S. Is still ahead with over 220000 infections you know a nearly 2400. 00 people have died just in new York New Jersey and connecticut combined and thats a little bit less than half the National Total and now in other areas which have been hit really hard if not actually worse expert warns that italy is actually undercounting thousands of deaths indicating that the death toll may be actually much greater infections far more and italys official death toll from the virus right now stands at almost 14000 the most of any country in the world and you know since the start of this pandemic people in spain who have been hit very hard by. Theres wire as to were told to stay inside but now thousands are going outside but not for social purposes but to stand in unemployment lines as morden 800000 workers in spain lost their jobs that just this month in march now thats the highest monthly drop in modern history and today spain i also had their highest death toll with and 950. 00 dead and elsewhere in europe france u. K. And germany combined have over a 1000 deaths while netherlands and belgium are actually climbing the list with over 2000 deaths combined brand in whats happening in turkey and greece how have they been handling the spread of dissent well ground turkey has so far not fully halted Economic Activity and imposed quarantines on just 18 provinces in fact turkish president receptor early on is still insist that turkey showed showed quote to keep turning the wheels in the economy and that people continue to work to to continue to work me line in greece most of the cases have actually been in refugee camps much of one of which is a home to about 2500 people and thats currently on the very strict quarantine after 20 our residents tested positive for the virus brand now there is a big story going on right now with 2 cruise ships again cruise ships kind of it weirdly at the center of this pandemic off the coast of florida whats going on with that well originally it was just one cruise ship it was a dutch own zonda and with over 2500. 00 passengers aboard and now that quick ship than idled off the Pacific Coast of Central America after the cruise line and now is that some 200 passengers when in fact it and 4 actually died on board then after nearly 2 thirds of those passengers they passed a medical screening and then they were moved into is on the sister ship. Ordered dom and now bull vessels are headed to Port Everglades and for a larger they all in florida are not designed as caring about your 1000 passengers and crew and their word adama almost 6 carrying a little under 1500. 00 passengers but he remains on certain if they are actually going to be allowed to disembark in florida on heres the issue brant the u. S. Coast guard is telling a cruise ship to be prepared to care for anyone thats tested positive for the virus at sea or to actually seek help from countries other than the u. S. Says the florida Health Care System is already really overwhelmed and the u. S. Is not alone here you know several other countries have deny permission for the ship to dock embark passengers but the cruise ships a president is really urging of stories to show compassion and to be generous in the face of humanity so its a very heartbreaking story heartbreaking indeed science have injure our t. Correspondent thank you so much for that insightful report. And as a rule my dear you can always catch the latest news and information regarding the crow virus on portable t. V. s coronavirus tracker now its been an up and down day for u. S. Equity markets giving up substantial gains before bouncing is the labor departments report its huge unemployment numbers here in the u. S. Now oil has also had a actually a good day as major by the marks gaining as much as 30 percent at times throughout the day boom bust cohost christi i has been following the markets and filed this report. As u. S. Equity stake a small bounce today before fading on the back of energy and stabilizing oil prices traders are cautiously looking ahead to the new initial jobless claims number after posting an unprecedented 3300000 surge this week is expected to be even worse with Goldman Sachs estimating a jump of up to 6600000 this is a 2 week sum of 10000000 new americans claiming unemployment benefit with california pennsylvania and. New york leading the charts the group being hit the hardest are those between the ages of 25 to 54 years old primarily coming from the Restaurant Industry retail leisure and hospitality clerical and the gate economy now with more than 80 percent of americans under some fire lockdown this is far from over as unemployment rises the chances of a quick recovery fades as the economy will quickly decelerate and come to a grinding halt the contraction in consumption resulting from unemployment will further reduce revenues and earnings for businesses which will increase the debt and duration of the recession over the next few months Consumer Staples remain in the spotlight as americans hoard staples like toilet paper flour sugar and cleaning agents walmart krogers and con agra are the clear winners in the pandemic trade as investors are now reevaluating positions in this new normal where there are no dividends no buybacks and basically no profits in light of the shutdowns now over on the oil front President Trump announced after speaking with Saudi Crown Prince and president putin he expects them to announce an Oil Production cut of 10000000 barrels easing pressure on oil and in the price war that has ravaged the industry details of the production cuts remain unclear as analysts noted that the u. S. Could have to give up something in return in other words sadi will reduce output only if others join or oil has a down over 60 percent year to date so the big question posed by many is should we just let the industry go bankrupt its already subsidize and leverage to the hilt and this would accelerate the push towards clean energy so why does not let it fail it was only last year that the us was boasting that the shell industry had rendered opec useless and irrelevant and today american shell producers are getting crushed with Whiting Petroleum the former shell darling filing for bankruptcy. Well it seems like the u. S. Will not allow the oil industry to fall the u. S. Oil industry is far too big and too important and encompasses the entire drilling in the strait the rig makers the offshore rigs exploration and production pipelines and refining so to allow to fail would mean massive bankruptcies and layoffs but most importantly its a matter of National Security and to allow the industry to fail while being giving up Global Control back to saudi arabia as washington scrambling for ways to protect the sector President Trump has announced hell be meeting with the Big Oil Executives on friday to discuss a range of options including the possibility of tariffs on oil imports from saudi arabia as details emerge of a truce between saudi and russia traders still remain very skeptical as President Trump has on more than one occasion exaggerated that we were quote very close to a deal when in reality there were just incremental news flow the pop is being sold off and brant settle back at support at 30. 00 handle and the dow gave up its 500. 00 point morning rally and major indexes data gains as well back to you brett. And thank you kristie lets bring in more expert analysis from our friend Todd Horowitz chief strategist at baba trading above lets lets actually start with these unemployment numbers 6600000 claims in a week. And it seems its only get worse we talked about how it could reach 30 percent or just earlier this week what do you make of these numbers and how concerning is this. High brant you know what theyre worthless or meaningless because we know its going to happen this is not a surprise this isnt because of a Major Economic slowdown this is because companies have to close because we cant create now is it going to cause a problem yes theres going to be a problem in the supply chain theres maybe a plot problem everywhere and many of these businesses will never come back but the other day its not something that happened because the overall economy was weakening i mean i felt we were already in aris. Before we got to this part but this is just all news driven and again youve got to shut down so business at the layoff employees and thats what were trying to see them avoid by all this free money and theyre not giving from the fed but at the end of the day its not a surprise and we shouldnt be shocked by it because these numbers are artificial because once we go back to work and once we can open up the country were going to be back at normal rates but if you think that were in a recession youve said it here on this show many times were already in the recession so when all these people are forced to lay off workers like they are now who are having to to face the unemployment lines but the reality is so many of them are going to go back to work because unfortunately these businesses are going to fail somebody people are not going to make it out of this so i just see that see that as a huge concern here. Is a concern but again i think you know a lot of the companies will come back and other companies are going to hire him because listen lets face it the companies that survive this are going to need more employees so they will take up some of the slack of the people that are going to go back to their Small Businesses you know again one of the things we know about business is that we can do x. Amount and from that x. Amount those people are going to have to work so whats going to happen is the Bigger Companies that will survive this or the Stronger Companies that will survive through this period will be able will need more employees to hire and they will go to the open pool that is there now is employed by going to be at 3 and a half percent you know anytime soon no i mean well probably when its all said and done well probably end up somewhere in the say the 789 range when we get back to work and then well start growing again from there but again we were in a recession this was started before the coronavirus its just been accelerated because of it and now weve talked about oil quite a bit lately as the commodity has just been ravaged and we saw Oil Prices Bounce today as much as 30 percent at times what do you make of whats happening with oil as this news comes out of the white house speaking with the saudis. What you know as you as i talked on monday ok i said that theres going to be a bounce i mean you know again its such a reprieve are repressed level that theres going to be some sort of a bounce when we get the bounce now again you saw today we have to about 28. 00 bases may crude and we close around 24. 00 and a half so i guess either were going to probably work our way lower again this was a Quick Reaction which really caught a bunch of traders on the short side so this is a good Old Fashioned rip your face off Short Covering squeeze and the end i think we start settling back down not over go back to 20 but i dont see its going to 30 anytime soon horowitz above a trading thank you so much for your insight as always well have you back soon. And time now for a quick break but hang here because when there is so much more after the problem and as we go to break here are those numbers at the close. I cant show you my face but im going to teach you must story in 1903 this man was sentenced to death. Charged with capital murder even though he didnt have the gun didnt pull the trigger didnt intend to kill anybody to mention living in your bathroom for the week with the center for 23. I doubt that he deserved to be. Confined within 4 green walls. Using. To help him to leave defense room. Under our attention is biased information dont know about more so we would. The loser of this information is going to ask how many people buy his goods. When there are other. Risk factors that it is. To make a better outcome. By the by some of this neutral bias. And welcome back u. S. Airlines are facing their deepest crisis ever that according to officials in the Airline Industry who are warning that in the midst of the coronavirus commercial flights have all but come to a complete stop from march 24th to march 28th flight aware track about 2 180000 flights which is roughly half the number of flights from the same week a year earlier now the transport association said todays crisis is far worse and more widespread than after 911. 00 when u. S. Airlines lost approximately 19600000000. 00 in revenue in 20012002 after the terrorist attacks the Us Government provided 15000000000 dollars to airlines in compensation and loan guarantees but the crisis is far worse so the big question is can the Airline Industry survive joining us now just such a boom bust cosen investigative journalist ben swan ben always a pleasure to have you now the big question here is can the Airline Industry not just in the United States but globally survive without massive government intervention. I get that is the question is and i think the answer to that is probably not but its also they dont have to find out if they could survive because theyre not going to have to find that out the reality is governments are already bailing out airlines all over the world look that march 27th bailout that was signed by the president of you know the u. S. Economy that 2 trillion dollars theres 58000000000 dollars earmark specifically for the Airline Industry in there we know that over in singapore the Singapore Airlines just got 14000000000. 00 as part of a rescue package in that country so so Different Countries are handling it in different ways but one thing is pretty consistent across the bar which is that most airlines are getting some kind of bailout from some Government Entity in a way the governments putting so much cash into these airlines is there a possibility that more airlines find that governments begin to take equity positions in their airlines rather than just bailing them out. Yeah thats a thats a really good point and i think thats what were going to see is specially in a lot of other countries i know in germany thats being discussed right now with on the airways over there they are you know trying to get a bailout from the German Government but the German Government is saying were going to probably take an equity position and own part of this airline if we do this and listen as a free market i dont like the idea of governments taking equity positions simultaneously you have to look at it and say these companies cannot survive on their own why wouldnt governments take some kind of equity position in the airlines because clearly they cant survive on their own when a crisis hits its essentially an investment into the business so most now meanwhile exactly instead of just giving away taxpayer money absolutely and end up British Airways is also saying its in talks to suspend about 80 percent of its cabin and ground crews this