Its nearly 4 s p above 2500 thats a loss of 3. 5 . Thats the same loss for the nasdaq theres the russell 2000 which has been a big winner down by more than 4 i want to begin with breaking news regarding General Motors. A significant story is developing as we are learning that new york deaths have topped 500 and the tremendous need that the governor of the state of new york has said remains four ventilators. The president tweeting just moments ago about General Motors a couple of tweets i want to give you some of my own reporting. He says, quote, as usual with this General Motors things never seem to work out they said they were going to give us 40,000 much needed ventilators. Now they are saying it will only be 6,000 in late april they want top dollar always a mess with mary b. Thats mary barr invoke p that means the defense production act he goes onto say General MotorsMust Immediately open their stupid ll lly abandoned plant io and start making vent lae iningw ford get going on ventilators. Fast he says we have just purchased many ventilators from some wonderful companies. Names and numbers will be announced later today. The new reporting, i can give you sort of flies in the face of what the president is saying quite frankly. Im told new at noon and sources have told me that much talked about deal between General Motors and producing ventilators could be announced as early as today. Monday remained a possibility but i was hearing today. Those two companies have enter into a joint venture that could see them produce as many as 80,000 of the ventilators. That was the new york in New York Times such a deal was close to be done thats according to the governor balked at the billion tldollar price tag. That is mentioned by the president saying gm wants top dollar its unclear where the negotiations stand or if a smaller dollar amount is being demanded by the white house and what that dollar amount is sources describe, to me, as gm as quote being in the blocks ready to start the race once it gets the go ahead to proceed according to sources, its already had extensive conversations with the uaw about workers and said to be 95 through the process of procuring the necessary parts to get all of this done a gm spokesperson i spoke to before the president s tweets wouldnt comment on the negotiations per se. Only saying we havent stopped working on a comprehensive effort to significantly increase production of ventilators. That line would fly directly into the face of what the president is saying is this gm is not moving fast enough and Must Immediately open their abandoned plants and start making ventilators it is believed once a deal is signed, if one is, gm would need a couple of weeks to go into full production of those devices. Lets bring in phil who can react to all of this we have the tweets from the president and as i state to you, my sources tell me and my reporting would suggest that these things the president is saying is frankly, its just not true some of it is wrong first of all, they dont own the lordstown, ohio plant. As much as mary bar might want to star production, they sold that to lords town motors. Thats one of those where you can see the pressure building on the president. That was him lashing out in that regard ive talked with people at General Motors who said they are doing work they will be retro fitting or adapting so they can build ventilators there. The question becomes when a deal gets finalized as you were talk about, some have been reporting, its been much reported that a deal was expected to be finalized by the middle of this week. Could be later today might happen over the weekend. They are ready to go once a deal is finalized what i find most interesting about all of this is the president , as soon as these tweets started coming out, i talked to somebody at general m motors, what do you want us to do were ready to go once something gets finalized they didnt comment on the state of the negotiations and thats what this is all about a lot of people are saying invoke p the president is the person to invoke p if hes saying invoke the defense production act, hes the one that controls that its not a matter of somebody else say lets do it hes the one hes the one that controls that. Thats the latest in terms of how General Motors is approaching this they are ready to go. Essentially as you just reported as well, they have had extensive conversations with the uaw, making sure they have the manpower, the Human Capital to get it done. They have 95 , im told, of what needs to get it done the plant is being readied they are waiting on the words that i used, were in the blocks ready to start is how it was described to me from sources if you go back to the New York Times report, the big hang up, according to that report is that fema took a look at proposed agreement and was like no, we think we can do it at a different price or other companies who we would like to procure ventilators from the question becomes should the president be lashing out at fema or General Motors . Clearly, he is picking on gm and hoping that pressure will come to baear in terms of them sayin what do we need to do so the president stops blasting us on twitter. In theres a couple of things. You could surmise that the president is tweeting like this, he obviously knows what stage the negotiations would be in and if my reporting is accurate and my sources are accurate and a deal is really set to be announced whether its today, as early as today or the weekend or monday, he could theoretically want to come back and say, see, i went on twitter. I strong armed them, if you will, to get the deal done they listened because i went on twitter and blasted General Motors when the reality is General Motors hasnt stopped for one inch thats number one. Number two is theres a significant economic fall out from all of this they want to get they being the administration they want to get people back to work in certain parts of the country soon they can. You heard the pleas from Governor Cuomo here in new york and new yorks not going to be one of first places that gets back to work st impossible. The situation is horrible here its likely to get even worse. You cant have people go back to work, phil, if you dont have enough ventilators ready to help those who are in need now and those who may be become sick after the fact which is why Governor Cuomo almost every day said in some fashion, we need the federal government toen voek the defense production act so we know these are being made thats what hes been calling for but him and other elected leaders around the country he can say i got on them and now we got a deal done this afternoon. Ive seen this play out since he became president with the automakers with production whether its a production in mexico or other things they know the play book well they know it well. I bet you any amount of money, mary will not engage as much as she may be screaming this is ridiculous its not her style nor does she think it serves any good for General Motors for her to engage publicly with the president. They will announce a deal. Nay will take their lumps right now and as much as they may want to say something, they wont last point here is to your point about mary barra, she may not be the one who is necessarily the point person negotiated with the government this is a ven tech deal with the government they are the ones who subcontract out to General Motors to do the work that it has much of a backlog. Then they make their own negotiation with mary barra. I dont think its realistic to think its her sitting on phone with the administration trying to get this done you know how this goes, scott. You pick on the ceo, hoping the ceo picks up the phone and yells at somebody else thats the play book i appreciate your reporting jumping in we just wanted the get this very important story out there as governors all around this great country are thinking about whether they have enough ventilators. Lets bring in the Investment Committee for a conversation about where we go. Liz young, youre joining us by skype. Put this week into context and where you thip it leads us to next i think this rally, at least a threeday rally which is encouraging has given investors a temptation to try to call a bottom i would urge people not to do that yet i think bottoming will be a process here we may have begun the process and its nice to see the market react positively to a fiscal package and monetary stimulus because testifiit was dismissiv. I think we will bounce back here for a while. A bit of a pull back and not to be unexpected. Josh brown, where does this leave us there are what seems to be a growing number of bottom calls or close to a bottom calls we heard from Lee Cooperman today who was on squawk box. Ill find it in my notes which are scribbles all over at this point. What do you think about this i would love to be wrong. I do not think the market can bottom until the virus tops. I think we need to see the rate of infections slow and then decelerate in places like italy and new york before we can see any Market Action and say that is the low its now safe the feel as though its all upside from here. Im sorry, i cant get there mentally i could end up being wrong but new york state had 7300, 7700 new cases reported as of thi morning. Many of them are in manhattan. I dont think thats the Fertile Ground in max pain on the headline front that we need for stocks let me tell you what i think the last three days did accomplish first things first, liquidity has returned to the fixed income market, at least on the etf side all of these etfs were we looking at as being a problem has had v shaped recoveries. We worked off some very oversold conditions zero stocks are at a tenday low. That number was north of 95 a week and a half ago. Most importantly, even with this incredible world record setting bounce, you still have only 2. 8 of s p 500 stocks above their 50 days 50 days. Almost nothing is in anything that you would consider to be an up trend despite the fact we have this 21 bounce ill tell you to look at high beta getting thrashed today. S p low volatility, splv is the etf for that is off only 1. 4 and your crisis basket is still working. Zoom, slack, teledoc all three are names ive owned for months and months. You look at whats working versus what isnt and you look at the infection count continuing to grow, very, very hard for me to say were not going to see under 20,000 again in the dow its obviously a Fair Assessment youre not the only one making it history suggests youre going to get a retest it doesnt happen every single time. What josh didnt express, which i will, is that its quite to say at this point, you cant pick ottoms. You cant pick tops. If youre sitting with cash and i was sitting with an enormous amount of cash you have to pick a point ive been saying this week that i quantify my risk as the lows that we saw on monday. Maybe we go a couple of percentage lower, i dont know at this point i think the market will discount as it always does events before they happen including a peak in the cases and the deaths that we see not only in new york but in the rest of the country i still have cash. If they go down to that level, i anticipate that but investing is risk reward. You cant do with absolute certainty. The risk we see is that it moves up quickly yesterday was irrational at the end. We had on wednesday a big move tuesday was incredible monday was the other today is more rational giving up the gains of 20 we had over three days it continues to be a market of discomfort because of the huge volatility and huge swings i still at some point need to be putting money to work. I said yesterday im not putting any more to work i went out and looked at each position and if i could hedge it out but its too high. You just got to ride the wave and not equate volatility with risk thats the mistake i think most investors make if we, lets say we try to call if theres people out there trying to call that bottom, maybe up 51 return. If you look at history, in other bare markets we have been down more than 30 , about six months out were up 30 12 months out were up about 53 . If we use history as any guide there, it would still take us a year from that trough, the monday was the trough, it would take us a year to get back up to those highs. Bottoms take time. I want to remind mediendnd p are younger, i went back and looked at 2000, 2002, not because this is the same market. We had six separate bare markets and three of them went over 20 from trough to peak. There were three separate 20 rallies that looked like they were quote, new bull markets or that the worse was behind us despite those 20 bare market rallies, we still didnt finally bottom until the market was down 51 and it took two years and it was absolutely grueling. People need to work this into their psychology shannon, you tell me based on all you heard from the investment economy, putting into context this week, what ul tell your clients today three factors toward the foundation and my colleagues have discussed two of them the fed stimulus which created an easier feeling, better liquidity in the bond market, two an efficient implementation of the stimulus, efficient implementation is not the governments forte we are looking to see how they are be implemented number three is data i dont disagree with josh i think more importantly it will be the economic da the data releases it will allow us to start and take some expectations for stocks, for companies, for Asset Classes and overall were sort of shooting in the dark here from an Economic Perspective i think once we start to see that data outside of the jobless claims we saw yesterday, i think we will be able to look at the next 6, 12, 18 months as potential opportunities. The reality is if you look on a long term basis, equities are attractive now we think will are opportunities in the market. Were not going to necessarily take a binary approach to reallocating capital now you mentioned some chip names. What are you doing today, if anything yes, have your Shopping List ready. Here is the interesting thing. We always say lets buy quality names. Lets buy quality Balance Sheets and that leads you to tech, pharmaceuticals and consumer staples. Thats all good. Let me add a different voice to this with what the monetary and fiscal stimulus has come out and shown its willing to do, there are actually some areas of the market that we would otherwise consider to be speculative but which ill recharacterize as opportunistic. Airlines airlines are clearly being shown by both the executive and legislative branch they want to save both the infrastructure of airlines and the employment of airlines i think thats something you can barbell with the quality portion of the market. There are, however, portions of the market that i find are untouchable. Those untouchable whats going on in the price war. One is the quality name. Stick with those theres the just dont touch ive got to say it again theres no reason to be in those untouch tbls just because you own it, are you sure youre recommending it to our viewers to buy it. The context with which i set occupy this answer is set up a barbell here have the quality, have the quality names with the strong Balance Sheets i was actually thinking about this yesterday when we were all talking about quality names. You have airlines clearly listed and whether its Congress People or the president , they know that number one, you want the infrastructure of air transportation to stay in place. Im saying to summarize is its a barbell. I understand that whats alaska up this week we throw a one week chart up there. This is a critical conversation that i want to have. Its up 30 this week. You are telling people you can buy it and its safe to buy today. An industry that will be troubled Going Forward i said yesterday, i take issue with the notion when all of this is over the light switch will go back on. These lights are on a long term dimmer and they will come up slowly and especially as it relates to airlines. Do you think youre going to see packed planes in the summer and in the fall or are they going to be half full because people will still have a prehe thipprehensit flying and being packed in a tool ooip im wondering if our viewers will make a mistake. Very good questions and several. I hope youll let me answer them floor is yours. You make a very good point with the dimmer analogy. Theres no reason to expect the economy will come back as sharply as we went into this downturn its like a traffic jam on the highway. Its much easier to slam on the brakes than it is to accelerate out of the traffic jam this is very vocal whether its from the president , congress that were not allowing these companies to fail. Yes, it may take time. You stressed it whether today is the day. I appreciate you bringing it up. I think were going to retest the lows in the market im not saying buy anything today. Next week, lets see if retest the lows when we do and you start to put as people are putting the Shopping List together for when you get back to lows, i said the quality name and some speck ta live names i said things dont touch. I asked if you would recommend to buy Alaska Airline today and you said yes i misspoke. Thank you for allowing me to clarify. If i misspoke then im happy you are bringing this up i hope, being clear, i think we will retest the lows thats what i said you have allowed me to clarify and i appreciate it. Lets mike shaur im being clear on this. Wait until next week, but Alaska Airlines, i dont think its one when we retest lows you can buy. Okay. Im glad we figured that out. Me too. Weiss, you want to weigh in on that . Then i want to get to another story that has a lot to do with clarifying i think we are going to go lower. As we get clarity, virtually everybody will suspend it. When they report, phenomenal quart erp ber but the stock wile pressured. I dont know if that creates the bottom or not. Some suggested he attempted to drive the market lower for his own personal profit. Writing in letter last night and im going to go through parts of this here. The idea that my appearance pushed the market down an additional 4 that day is absurd this is so in light of my disclosure on the show we were actively buying hotel and restaurant stocks. Companies that have been most impacted by the virus decision to companies in our portfolio. Yes i got emotional as taked about protecting my immune promise compromised father from the ravages of the virus but i had become bullish that the entire country would go on lockdown he mentioned the governor of california announced their lockdown and two days after the appearance here on cnbc that new york Governor Cuomo did the same he sums it up with the last part the bottom line is our hedging strategy worked. While we incured mark to mark losses on our portfolio, we made the same amount on the hedges. We were flat for the year. By selling the hedge, we general ra generated 2. 6 billion of proceeds which we invested in new investment which we believe will pay off as markets recover. Steve, ill let you react to it. I saw your reaction to it on twitter. The emotion golts in the way of while he was overwhelmingly worried about the virus, he thought the necessary steps would be put in place by various governors which they seem to have been done the market could go up because he said he used the word bullish. He used the words buying and he told you where he was buying what do you make of the clarification and then were going to leave this story be i think the clarification was unnecessary. I think he was, as he always is, extremely clear. He came on the show maybe a month ago and said im hedging out the port fell owfolio. He did that. He came on the show the other day and said im bullish im buying and laid out what hes buying. Im buying hilton. It could go to zero. It could go a lot higher we asked him the question, i think i asked him the question or you, saying you must have high confidence about the Summer Vacation or spring break for the countries. He said absolutely theres no need to clarify youre in an emotional market, emotional setting and people will hear what they want to hear sometimes instead of whats being said i dont think he owes any apology or explanation to anythin anybody. I wish i could get that lets go to sue with the latest headlines. Ill give you a minute to answer your phone. Good morning, once again well start with numbers the death toll from the virus has broken above 500 in new york state. Governor cuomo says the apex still remains about 21 days away despite adding thousands of beds to State Hospital capacity, cuomo says its still not enough im going to ask the president today if he will authorize another four temporary hospitals for us i want to have one in every b burrough police have set up a check point. They are enforcing a rule that only authorized people and residents can go into the florida keys at that point the nfl is going ahead with its draft of amateur players it will not be the big production we have seen in recent years commissioner Roger Goodell has told League Insiders they should not publicly criticize that decision well have more for you nec hour for mur coronavirus coverage you can head to cnbc. Com scott, back to you i appreciate it i want to do a bit of breaking news here related to the story we led the show with ive just gotten a press release that says the ven tech life systems announced General Motors will build vocsn at gms Indiana Manufacturing plant with fda cleared ventilators scheduled to ship as soon as next month this effort is in addition to taking aggressive steps to ramp up their facility in washington. I told you that a deal between the government and ven tech could be announced today in fact, it appears as though this is literally being announced as we speak. Despite the fact the president went on twitter just before we came on air suggesting that General Motors wasnt moving fast enough. The president saying as usual with this General Motors things never seem to work out they said they were going to give us 40,000 much needed ventilators. Now they are saying it will only be 6,000 in late april they want top tldollar always a mess with mary barra. This statement says they will manufacture fda cleared level one surgical masks production will Begin Next Week and within two weeks ramp up to 50,000 masks per day with the potential to increase to 100,000 per day. Theres a global back order of Critical Care vent lailators. A deal was iminnocent. It looks like it has phil has joined us in the conference now phil, were a little over all over the place in trying to read this now this stands up to both of the reporting. Theres two contracts that you want to look at. Theres the contract between gm and ven tech thats have reached an agreement. The report that started all of this yesterday fromthe new yor times about look they thought they had a deal. Fema came in and said whats going on thats a separate contract between ven tech and federal government that may not be done yet its still not done yet. Thats not stopping General Motors from Going Forward with production at the cocomo plant there will be workers volunteering their time to work. They have been putting equipment in place in that plant there is a backlog and General Motors will go forward they will Start Building these gm will deploy an estimated 1,000 workers to Scale Production of Critical Care workers. We had said they had been in extensive talks with the uaw to be in this position when they could start making the ventilators that they were 95 through procuring the necessary equipment they needed. The bottom line take away before i move on is that ven tech and General Motors have done everything they can do, it would seem to be in a position to start making these ventilators asap we may have to wats untit untilr today. These two parties are ready, willing and able to start yesterday. Correct they are moving forward. Thats the bottom line when it comes to gm and ven tech the level of frustration is high because their feeling is were doing what we said we would do now whether or not the contract get works out with federal government, thats separate from this issue of these guys moving forward and getting that engine plant ready which General Motors will have 1,000 workers ready to go it would be close or Something Like this wouldnt be happening in the speed and manner how much of that is government red tape how much of that is because of the situation right now and everybody has to move much faster than usual. Im not familiar enough with the whole fema proses the kncess tow we get it well get glen kachers take on this volatile market two minutes away on the half when it comes to your business internet, which is more important . Okay, i wish i didnt have to choose. Like the more i think about it, the more i want to jump to each room. What if i said you can have it all . Comcast business gives you connectivity that goes beyond. Thats what we want thats speed, reliability, and security, all from one provider. Touchdown comcast business goes beyond with the extraordinary speed, reliability and security your business needs. Call today. Comcast business. Beyond fast. We are back. Lets get to josh lipton with news on apple. We have apple making news that they have been working closely with the white house and fema to create this new app and website. Here is how this is going to work here in the u. S. If youre 18 and older you can download the app or visit the website then you will get access to the specific screening tools and resources. Youll receive guidance on whether to continue practicing social distancing. Whether to closely monitor symptoms, contact a medical provider whether or not a test is recommended. This news coming as apple made other news this week you saw tim cook take to twitter and say the company has sourced 10 Million Masks for the u. S. As well as millions more for some of the more hard hit areas in europe back to you. We appreciate that very much. Lets stick with tech now and bring in the noted tech investor thanks for being here today. Thanks for having me. Give us your broad view id like to ask our market guests to give a broad view of how they see the market. Its been a historic week. Our hearts goes out to the folks fighting this. We need to kind of focus on them a little bit too its been a fascinating balance watching the market deal with this Health Crisis where the right path recommended by our Public Health official is have every one stay at home and not contact commerce with what the risk is financially that when we do come out of this, that every one has jobs to go back to so, thats, thats balance were watching i think this week is has been a huge turning point it got untenable for the president and congress to continue to ask citizens to think about this being a four or five six month process maybe a different way of getting the economy going with maybe t letting younger people change their behaviors. We havent gotten to that but i think thats what the market is anticipating its easy for us to, all the way across the country to be fixated on the perspective and the point of view here many the new york city greater metro area were just across the river from a city that is hurting pretty badly. The numbers are likely going to get more alarming. We hope not but you have to be prepared for that. Some 3,000 or so miles away, whats it like in the valley and youre thinking about this return to normalcy at some point. Pretty fascinating. You have so give some credit to Silicon Valley and you just talked about apple they need to be part of the solution very quickly. Its allowing our healthy population in the United States and really the world to continue life as smoothly as ossible. If you think about the industry and some of trends ive been seeing for the last 10 or 20 years, mobile, social, cloud and e commerce, these are the industries that are keeping our economy afloat right now i look to my friend at ucsf specializing in hiv and Infectious Disease you have the test company and sunnyvale and they developed a test that gives results in under an hour. They have a 30 minute Antibody Test now you see the solutions that are being brought to bear so quickly. I know some of the trends will continue but how are you thinking about the idea that some things may never go back or slowly climb their way back to where they were. Businesses maybe not taking as much office space per se and using that extra capital that they have in deploying it in their servers or other areas of technology that may be for the foreseeable future and taking that into a perspective on how you view investment ideas moving forward. Its a great question nobody really knows how fast everything comes back and what behaviors are really changed i do, if we do look back to 2001, 9 11, there were a lot of statements made about how travel would be curtailed in the business i think there will be a time of healing and people feeling less safe about getting on an airplane and Standing Shoulder to shoulder with someone for five hours going across the country and theater, watch a movie instead of watching it at home on netflix. I think there are some things that will be temporary for us, as i said, we focussed our fund in on e commerce, cloud, social networking three of those four are working well in this time, in this crisis i think they will continue to work really welcoming out of it. The way we look at it, at the bottom, you know, over the weekend, i do think that its probably the bottom. We may test and we may not im not sure if that really matters if you think about if youre investing over a one to o you know, time frame or hopefully a lot longer than that, but we look at it and say, okay 2020, throw the results out. It really doesnt matter what happens as long as the companies that youre investing in survive. So really then its like how quickly do can our Companies Get back to peak, earnings, cash flow revenue and, you know, you looked out, okay, maybe its 2022, you put a 2022, 2023, put a valuation on that and you buy accordingly. Thats how were looking at the opportunity. Steve, i know you know glen well do you have a question for you yeah, for a long time so when you look at some of the sharing economy and some of the social stocks, their Balance Sheets are not great and before that they were going to lose money for an extended period of time how are you assessing that risk in terms of your portfolio are you lowering those positions to certain levels and increasing a facebook which have seen their metrics go sky high . How are you taking a look at that yeah. Great question, steve, and thank you. You know, we look at it and we saw that uber came out and talked about their Balance Sheet quite explicitly at the beginning of the week and made the case that they had plenty of cash, an extra 4 billion and as i said no one knows how quickly were going to pull out of this and and, you know, what what the infection rates are going to do exactly, but i think, you know, you look at the history, you look at whats happened with some of the doomsday estimates about the disease and those are getting pulled back now, you know. Neil ferguson in the uk has said, well, you know, im not pulling back its the behavior thats changed, thats why im changing my estimates on what the what the danger here is, but i think ultimately were going to go back and theres going to be plenty of opportunity for uber and lyft i mean, i think if you look at the more dense urban populations which are really their best markets, youre going to feel heck of a lot better getting in an uber or lyft in the morning than getting on the subway or the new york city or the t in boston or or which ever system youre on in your respective urban area, so i think that uber and lyft are going to come roaring out of this quite frankly it doesnt look great on the way down, but i do think they will come back very strongly. I talked about it on the show yesterday. Were looking at 5g. We had been looking at it before, but we feel that its going to be the deployment and adoption will be accelerated, and thats one of the changes that will come out of this what are your thoughts on that yeah. Thats thats a good question i mean, i think were were hearing all kinds of reports about the internet capacity getting used up quite quickly and there being a glut or that theres no glut certainly, you know the theres a shortage of capacity, so i think thats probably very good news for for the wireless carriers in terms of people relying on their connections quite a bit as their lifeline, you know, to their work, and also home connections, you know being friends of mine are calling up and trying to upgrade their connection to the Cable Company to a faster connection im not sure that necessarily helps because thats a Network Congestion issue. Those are the things that ive been thinking about in the past few days, i know a lot of people have obviously. We have broadband and you think of the chips and you think servers and things like that as you look on the road ahead glen, were at end our road today. Appreciate you being with us look forward to have you back in person once this is in the rear view and hopefully thats soon thank you light streets glen kacher. Well be back and have final thoughts hand listen to us live on the go d anthe cnbc app were back right after this. I opened a sofi money account and it was the first time that i realized that i could be earning interest back on my money. This is amazing. I just discovered sofi, and im an investor with a diversified portfolio. Who am i . Its because of sofi, i was able to acquire my first home. This is victory i did it thanks sofi for helping us get our money right. Why do things that are supposed to make life easier sometimes feel so complicated . Ibm watson is different. Its ai that works on any cloud to help your business tackle problems. From building smarter cars to predicting sales trends to improving customer service. Without slowing you down. Has you covered withe fast, reliable internet. Finity with advanced security to help keep you secure online. And with the most tv shows, movies and streaming apps all in one place. With simple Digital Tools you can get the help you need or even trouble shoot your services on your own. Download the xfinity my account app or just say help into your xfinity voice remote. We are working to make things a little easier on everyone. Download the xfinity my account app today. Can we go get some ice cream . Alright, we gotta stop here first. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Our breaking News Coverage continues this evening at 7 00 p. M. On cnbc ill seal you with our special report yet again, the path forward. The prophet himself Marcus Limonis will join us to discuss how the coronavirus has impacted businesses across the country, davis chang, the ugly star of the restauranteur and danny meyers so lots to discuss with those folks and more lets answer some of your questions now. Josh, to you from glen in summit, new jersey what Top Investments does the committee recommend in chips, servers and reits. Ive personally held nvidia and virtualization becomes way more important through this crisis, and that means a lot more work for that company so im staying long regardless of the volatility. Liz young, what do you think about small caps oh, we dont have liz young. Shannon, are you still with us i am. All right shannon, from mike in lewis center, ohio is now the time to move into small caps the russell 2000 has actually held up very well over the last several days i think if you look at it from an Economic Perspective, larger Cap Companies are better insulated through a period of economic softness so i would be selective in small capsin the back half of the year. We still remain more positive large caps over small caps. Let me ask you about an upgrade. Jimmy, stocks were upgraded at ubs, nvidia, micron, marvel, broadcom, what do you think about that well, it makes sense. I think we do have to note that semiconductors outperformed in recent weeks but it makes sense from the point of view that everything is being done remotely these days that requires telecommunications which requires chips, a lot of remote sensors as i said, i think semis will be what steel was in the 20th century so i agree with the call okay. Weiss, why dont you leave us with a thought well use the word historic because thats what kind of week it was and who knows how the rest of this day is going to end if stocks try and stage some sort of rally before the close we shall see, but put it into perspective as we look ahead. Ill just emphasize what glen said which i think is incredibly insightful dont worry about the bottom dont worry about when its coming or what it is take a longterm view and buy stocks when they are valued to your analysis. Thats what i would do and stick with it. Okay. Jim scotty. Last thought, and youve got less than ten seconds. Yeah. Look, lets see what next week brings i think were topping out not a bear market real but that doesnt mean we have to set new lows just means we might go a little lower from here. All right thank you. Have a good weekend, everybody kelly evans picks up our breaking News Coverage right now. Thanks, scott and hi, everybody. As we continue this breaking News Coverage of these markets, stocks are tumbling today after a mega threeday real. Right now the dow is down 672 points, so thats well off the lows its pretty much across the board a 3 decline, and despite the losses the dow is still on track for its best week since the 1930s, been a long week. Hard to remember all of that for the s p it would be the best week since 2009, but just today the Earnings Growth estimate for all of 2020, this is the one that comes from analysts of al