The krona virus has infected more than 2400000 people globally its taken more than 160000 lives while some countries are seeing a flattening curve others are still seeing a surge in new cases coppa 19 has infected more than 766000 americans while thats in the u. S. Have top 40000 new york state which is finally seeing a drop in new cases announced that its going to begin aggressive statewide Antibody Testing this week protests continue across the u. S. Over shelter in place orders amid pressure on governors to reopen local economies at sundays briefing president said that hell use the defense production act to increase manufacturing of testing swabs while working with governors to reopen their economies over the governors doing a better job than others. The robust capacity that weve brought online will empower governors to deploy sophisticated strategies so they can safely reopen their states. Some people believe in test. And other people believe in it less strongly but still its a very good thing to have that you must remember that the governors wanted to have. Total control over the opening of their states but now they want to have us the federal government do the testing and again testing is is local you cant have it both ways for us governors are in conflict with President Trump and say that testing is still an adequate and not adequate enough to lift restrictions or President Trump raise the question whether china was knowingly responsible for the global spread of the coronavirus on monday Chinas Ministry of Foreign Affairs spokesperson gang schwab responded by calling for international unity. Would die young like other countries china has been attacked by the virus and is also a victim of the virus we are not the corporate nor the accomplice of the virus in the face of a Major Public Health crisis and threats of Infectious Diseases the International Community should stay united rather than blaming each other for rushing to hold someone accountable or demanding compensation i dont remember where there was such an International Practice before some People United states must understand that their enemy is the buyer not china. Well some countries in europe are seeing signs that the coven 1000. 00 infections are slowing germany is reopening shops and easing restrictions as a country toll fell by more than 60 percent in just 2 days and the u. K. Reached its lowest daily death toll in nearly 2 weeks but education secretary said there are no plans to open schools by summer time on sunday france reported 395 deaths its lowest number in nearly 3 weeks while italy reported 433. 00 deaths its lowest in 7 days meanwhile some businesses in iran reopened as the countrys daily death toll fell to 73. 00 though this is the lowest in more than a month but other countries are seeing an increase in its numbers singapore for example reported more than 1400 new cases in just one day raising the total to more than 8000 from the 6500 reported on sunday well peru reported 15000 new confirmed cases but for context here the country reported its 1st case on march 6th and it took 25 days for infections to then reach 1000 well so far peru has more than 15000 cases and 400 deaths brazil is the only other country in latin america with more cases than peru but for more numbers and information on the coronavirus be sure to check out our portable the t. V. s and look for the section tracking coronavirus. Now we reported 2 weeks ago that this Historic Oil Deal was nothing more than political the actrix making a whole lot of much ado about nothing well we said that it was not enough to counter the record inventory buildup and that prices will crush even more as the steel doesnt even make a dent well for a breakdown of how markets are starting this week lets turn to boone both cohost chris while the chips are down today as oil plunges below 0 kristie were seeing negative values here for the 1st time in u. S. History whats happening with oil. Well is there this is on record the biggest plunge ever that were standing by were down over 300 percent today from a to b t i contract now this price dynamic happens when producers actually have to pay to have someone take the crew as the cause is less then shutting down all of production so its kind of you know that the this is the environment that were living in this world where we live and have negative carry on crude and also negative Interest Rates those kind of a very interesting time in modern economics and now today we have the front and one just morning i would been saying for weeks came true that supply has far outpaced the man which has fallen and 36000000. 00 Barrels Per Day and now are coming close out of storage so global oil stored on land and the is rapidly filling up and is currently estimated to have exceeded 70 percent brant however is very a little bit better as it is a waterborne crude and tanker storage is still accessible however in contrast the b. T. R. Is completely landlocked in the us in canada and russia and about 500 miles from water brant is still under considerable pressure today down 6 percent but is likely to find some sort of support at 20. 00 per barrel given its strategic location so the main contract will expire tomorrow on tuesday but right now the entire front end of the futures curves look just as ugly the spread between front months is now at the widest ever in history of speculators and paper traders roll their contract out well kristie the u. S. Equities market also continues to remain extremely volatile as it tries to find some direction whats happening there. Well we looked last a bit today as the market attempted to stage a rally midday as we got some indications that the pandemic is getting under control in the u. S. And that seems to be the near term issue on everybodys mind but then as we look a little bit further earnings and the aftermath then come into focus and thats when you start seeing the market get sold off again on the back of oil so right now the instability and markets bled over into equities and we thought into the close with the industrial heavy dow taking the biggest hit down over 2 percent. The tech focus cues however seem to fare a little bit better down about one percent short sellers are now also coming back as the latest earnings and data brought to light the devastating toll of coping 19 ive had on the economy this recent rally was in large part due to a short squeeze as a huge stimulus package was passed in the 11th hour but now thats been shown to merely delayed the downturn the shorts are back stacking a bet against the s. And p. Were Short Interest rose to 60000000000. 00 last week which is now the highest level in data going back to 2016 with the most heavily shorted company now all within travel and retail christine mentioned the relief package that the trumpet my station has said will be reached that deal by monday there seems to be more relief coming to this Small Businesses and assistance to local state governments what do we know about that. So now after much pleading for additional assistance the administration is closing in on another aid bill to further help Small Businesses and hospitals around the country so it is now expected to include another 310000000000 dollars for the p. P. P. Program not ran out last wednesday in order to help Small Businesses survive the outbreak is also expected provide another 75000000000. 00 for hospitals and 25000000000. 00 in testing now these measures are meant to be a bridge between phase 3 and face for their beliefs measures merely extending the life line a little bit more to get the funds to those who urgently need the aid now face war is what will include a big spending package and analysts estimate could cost about 1. 00 trillion dollars as it will provide assistance to states and municipalities as well were looking for more stimulus help on this but for more analysis we are joined by c. E. O. And chief strategist for equal intelligence and former Federal Reserve insider danielle de martino whos danielle thank you for joining us today more stimulus actually is it going to help at this point are these packages even being deployed correctly or is all this just a little bit too late and extending the rope for a little bit more and just trying to delay the eventual crash that many people are expecting. Well you know whats interesting is that if you look at the p. P. P. Loans that were distributed from the original 349000000070 percent of them were for less for 350000. 00 dollars 1 or less so its apparent that the bulk of the day the demand was coming from very Small Companies even though weve seen some splashy headlines about much Larger Companies that have been able to get much larger loans so i think that i im hoping the government has learned its lesson that it needed a separate program for really Larger Companies maybe that is what the Federal Reserves main Street Lending program will do but because the funds initially were exhausted you have to think that theres a backlog of applications sitting at u. S. Banks right now that are ready to go the minute Congress Approves and we get we get the extra stimulus signed into law well yes especially as you said because it definitely looks like the Small Businesses really were taken out you have Companies Like ruth chris who just returned their money and you know a lot of these that midsize retailers are really just getting screwed here now they dont qualify for a lot of these programs as it is theyre too big to qualify for the s. B. A. S. And they are too distressed to qualify them for the the primary market Corporate Credit facility thats aimed at these Larger Companies there are Companies Like macys and even markets that are being forced to then go into bankruptcy whats going to happen to this industry if they dont receive the 8 now these retail accounts for the largest private sector employer. Youre right it is the largest employer in the nation and thats what makes this that much more of a tragedy unfortunately i would say the coronavirus has acted as kind of an accelerant that you would but i want to fire Neiman Marcus it was well known last year was desperately struggling with an overhang of debt it had been you know its Balance Sheet was in a tatters so we knew that Neiman Marcus would be the 1st one to declare bankruptcy. If there was any kind of a red swan or even worse a black swan event of this magnitude and other major retailers such as macys for years have been kind of doing this slow drip methodology of closing down stores 100 here and 100 there as opposed to really right sizing the company to what demand was for their traditional kinds of Department Stores again its tragic and its awful and i hate to see these people lose their jobs and i do hope that the extra amount of Unemployment Insurance that is available the stimulus is of assistance to them but again these are some of these retail deaths have been a Long Time Coming a lot of people now also turning to Online Shopping in the last couple years but even more so now because they are still still selling rather than theyre saying the Department Stores will no longer not necessarily not exist but they are dying down but kristie earnings week continues as we have the group of Major Airlines that are reporting this week we all know that its not going to be good give us a preview of really whats to come. Well i dont think. And i guess just to put things in perspective in january there was about an average of over 100000 flights every single day flying worldwide now last week there were only 28000 flight so in the u. S. Domestic life average only just 10 passengers per flight and every single carrier has now been scrambling to cut out because and now entire sleeping ground it was booking revenues down over 100 percent year over year so we know things are bad and not looking to recover any time soon the Airline Industry on average takes about 4 years to recover from any sort of shock ive seen from 911 so we wanted to hear anything good come from them now but the biggest focus will be the aftermath what will the company be doing to rightsize the operation and the fleet once the coronavirus over what efficiency measures will be in place and certainly a social distancing becomes more of the norm that now these days downsizing to cram more capacity wont be an option anymore for airlines where lines are definitely struggling we have about a minute left but christine let me get this question and now despite oil cratering whats really holding the companies are the markets for now they traded pretty flat today. While they try to play flat but you saw the fang stocks actually gain a lot decliners lead advancers 3. 00 to 1. 00 and even so a lot of the tech stocks still manage to stay afloat so you have amazon and netflix both the clear winners however coming into our next facebook might be a completely different story as they generate most of their earnings on at and as companies are struggling to stay afloat spending more money on as an ad read in commercial is the last thing on everybodys minds. Well you must cohost christi i and former fed inspired daniel de martino both thank you so much i mean only time will tell like weve been saying for the last couple weeks but markets seem to be. Holding pretty well except for unfortunately oil all time lows hopefully we can come back from this and not in the slow recovery that we were expecting but time now for a quick break but hang here because when we return as more people and companies go online to work competition is growing for Cloud Computing and maybe looking to make a run at amazon and even microsoft as we go to break here the numbers are that. Is youll be a reflection of reality. In the world transformed. What will make you feel safe. Isolation little community. Are you going the right way or are you being led. What is true. Is faith. In the world corrupted you need to descend. To join us in the depths. Or a maid in the shallows. I mean this is to put on the chain on the stone could you do a little sponge thats. I am. Not going to join that i desire to know. How much older the. Local just to. Show. You but its not just the most unusual not among the. Next guys or financial survival stacey lets learn to laugh lets say im not sure i get your. Response thanks for the fight c. Thank you for. The story thats true. Lavery. There is no question that the coronavirus is indeed changing the way that businesses operate and its also placing new focus. On digital economies as well one example of that is the new focus that online marketplace is now placing on building out its Cloud Computing division the Global Leaders in that space are amazon and microsoft is now going to make a major run at them joining us to discuss is bloomberg an investigative journalist ben swan ben what kind of financial commitment are we talking about here by. Well actually its a pretty massive commitment were talking about the equivalent of about 28000000000. 00 of alibaba is going to roll into Cloud Computing essentially saying that this is the next frontier this is where the Company Needs to be and theyre making this kind of double down investment as you just said based on the fact that they say with the coronavirus right now that there is more of an opportunity in this Digital Space all bob as we know is kind of a amazon right sort of part from ecommerce online marketplace its somewhat remarkable how ali baba sees its future is now back in 20000. 00 danielle is the c. E. O. Of ali baba towards the end we see quote i think cloud will be the Main Business of ali baba in the future and quote this was back in 20 team but why are Companies Like amazon so focused on these Cloud Services. Well because its a massive new space and theres so much room and so you still consider the fact as you said that alibaba and amazon are essentially the same company in terms of being these online retailers where you go in there and your you buy stuff online have a sense your home whats interesting about these companies is they have very similar trajectories in these other spaces they want to involve themselves in the difference between Amazon Amazon an hourly bob is that alibaba is primarily has its strength in obviously asian markets and specifically in china the number one market place in china and was on globally is larger in this space and certainly globally larger in terms of Cloud Computing but thats where alibaba sees an opportunity so theyre saying this is a 100000000000. 00 opportunity just in china itself to take over all that Cloud Computing because what theyre seeing is the move from so Many Companies to move over to these kinds of businesses that competition where thing comparing it to amazon but how important has Cloud Services like amazon a to the u. S. Then become now to that company well yeah and tha