And praised for generations to come were really all working well together democrat, republican, conservative, liberal, were all working together this is not about parties. This is about our country. Now the American People are ready to rise to the occasion once again they are ready to show the world once more that americans can defeat any challenger. Together we will rebuild this land that we love, we will reclaim the magnificent destiny that we share, and we will carry our nation forward to new heights of greatness and glory i would now like to ask Vice President mike pence and dr. Birx to further explain the new guidelines i want to thank dr. Birx, i want to thank dr. Fauci, and i want to thank really especially a man who has devoted 24 hours a day to his task force and done such an incredible job, our great Vice President , mike pence please, mike thank you, mr. President. The members of the White House Coronavirus task force today met with member of the house and the senate to get their counsel on the development of what the president unveiled to americas governors this afternoon the new guidelines for opening up america again are a product of the best science and the best common sense the president marshaled on this team and from a broad range of advisers from all across the nation. From the moment President Trump established the White House Coronavirus task force, early on, he made it clear that we have no higher priority than the health and safety of the American People. President launched a whole of government approach and while we stand here on this day, with more than 640,000 americans having contracted the coronavirus, and our hearts go out to the families of the more than 31,000 americans who lost their lived and those who continue to struggle with serious consequences of the coronavirus there is the president and the Vice President talking about opening up america they did not go into the gilead drug where we had some good news out of one chicago hospital tonight and magazine called stat where my friend adam foresteen made a positive piece about the idea we may have something that gets people out of the hospital quicker and lowers the morbidity. This is why the futures are going crazy. This is why scott wapner will be must watching. The first actual good news against the coronavirus since this started you know i have felt that it had us on the run the whole way. That we have not been able to come up with a realistic program to open up the whole country, just the areas as the president said, which are less hard hit or dont have as much virus if the gilead drug is work, if it is working in the way that this study, this was just part of a full study out tomorrow, theyre right to be up 12, it is right the bank stocks are roaring. They have been hurt, people think theyre going to get hit so badly by a slowdown it is right that the housing stocks and the industrials are roaring and it would mean given all the money pumping into the economy, it would mean the shorts would really be on the run and the longs have something to call about. Mad money will be back dont miss a second of mad money. Follow yjim cramer on twitter. Send jim an email to madmoney cnbc. Com or give us a call at 1800473cnbc miss something head to madmoney. Cnbc. Com. We cannot do all the good that the world needs. But right now, the world needs all the good that we can do. To everyone working to keep america strong, thank you. Shbecause xfinity mobilehen ygives you more flexible data. You can choose to share data between lines, mix with unlimited, or switch it up at any time. All on the most reliable wireless network. Which means you can save money without compromising on coverage. Get more flexible data, the most reliable network, and more savings. Plus, get 200 off when you buy an eligible phone. Thats simple, easy, awesome. Go to xfinitymobile. Com today. Can you have a robust stock market without a robust Banking Sector judging by the hideous action in the bank stocks, yesterday and today, although of course theyre screeching higher tonight because of the gilead potential breakthrough, im sure scott wapner will talk about that at 7 00, we have a question we have to ask one after the other of these fantastic Bank Companies have seen their stocks cascade lower and extraordinary move considering the banks are reporting pretty good quarters this is the one industry that is in much, much, much, much better shape than when we were headed into the Great Recession theyre selling off because of the pandemic, not because of greed or foolishness back then the financials were ground zero for the collapse now the conduits for the federal governments decision to try to put money in your pocket for the stimulus plus, given the gigantic deposit bases, you might think they have everything they need to get through the lockdown relatively unscathed. The other day when jpmorgan reported, jamie dimon ceo, made an offhanded comment, a rational plan to get back to work is a good thing to do but it wont be may, were talking about june, july, august, Something Like that. Since that comment, the bank stocks have been relentless decline and i dont know if what the president said earlier will change that. Whether or not you think it is a good idea to reopen next month, we need lots of testing, lots of masks, Contact Tracing before we can end the lockdown we need the gilead drug remdesivir to work and to work in a controlled study where it is up against a placebo. Without a break like that, jamie dimon, doesnt see us getting there until mid to late summer i hope hes strong the bank stocks are soaring, an expectation he is wrong. Gilead got a drug that can cut short a hospital stay. But if there is a prolonged lockdown, i think the banks are in trouble the reserves arent that bountiful and a multimonth quarantine where americans dont have the money to pay their debts what are the big changes since the Great Recession is were more sympathetic to borrowers and less sympathetic to the banks who has a hangover of what they did in 2007 to 2009 theyre worried about their credit i cant imagine retailers paying their interest it is like a three month Long Bank Holiday except the holiday is at the expense of the banks and shareholders they have already volunteered to get rid of the buyback and those are all gone if dimon is right, they may need to say goodbye to the dividends too. It wouldnt shock me if government says the banks need enough capital to cope with a three month hiatus so Many Companies are closed, there is no way everybody can pay. Some banks are better prepared than others, Morgan Stanley has a transparent book of business you have what i call a very asset light financial with a huge embedded if he base, chalked to james gorman. I liked everything i heard doesnt matter the stock market though, it trades like all the other financials with much riskier books of business. I look at wells fargo, i dont like what i see. A lot of loans will go unpaid for the next few months. Oil and gas loans. Why should that stock yield 5. 59 . Goldman put up a darn good quarter and despite the downturn, they reported good numbers. Now there is a Silver Lining if people can go back to work soon, theyll be expected to pay their bills. However, with most retailers being crushed aside from walmart, costco and the airlines having been obliterated, it may be the banks time to serve as the proxy for the economys weakness it is too bad some outfits are crushing it, nobody cares. Theyre banks. So without the miracle treatment, sell them we Want Companies with dividends that can be raised, not payouts that might be cut. And most of all we Want Companies that can, you know, actually get paid for the Services Rather than being stiffed by debtors who can probably get away with it. This time, it is not their fault. Thats the banks they have been hit so hard they got to hope that remdesivir works. If not, people just go right back to selling after they rally in the morning to archie in california. Archie hey, jim. It is archie from palm springs, california. Whats going on, man . I want to ask you about sirius xm, siri. Yes. I briefly boughtit, seemed to bottom out last few weeks and earnings are set to report next couple of weeks on the 28th and analysts are looking for a 5 cent per share, 3 Cents Per Share from same quarter last year what do you think . Im worried im worried. In the end, it is a play on cars, play on cars being bought, play on used cars and play on driving. And if you dont do all those as much, you will in the reup your sub. Thats a worry for me. To mike in texas mike big booyah from dallas, texas. Good to have you, mike. Okay, longterm holder of big pharma, recently added some biog biogen, earnings are flat, pushing over the pipeline, company has low debt, high return on equity, ten times earnings, six year trading range. Am i mad or do i youre fine you got to have the alzheimers drug pay off the segment is red hot, regeneron is up, amgen is screaming. If they get remdesivir through, thats going to be big youre going to go up just because it is in the biotech etf. A lot to digest tonight. Wow. President saying were dwogoingo open soon. Gilead may be letting him do it. Yes. The first word to any adventure. But when allergies and congestion strike, take allegrad. A nondrowsy antihistamine plus a powerful decongestant. So you can always say yes to putting your true colors on display. Say yes to allegrad. To since 1926, nationwiders weve been there in person, during trying times. Today, being on your side means staying home. Nationwide office of customer advocacy. But we can still support you and the heroes who are with you. Were giving refunds on Auto Insurance premiums, assisting customers with financial hardships, and our foundation is contributing millions of dollars to charities helping with covid19 relief. Keeping our promise to be on your side. It is time it is time for the lightning round. The lightning round is over. Are you ready . Ailen alan in massachusetts. Booyah, mr. Cramer alan, lynn, massachusetts. Whats going on thank you for taking my call. As with everyone, i want to thank you for being with us and being who you are. Youre a delight. Thank you. Thanks for cutting through the bringing light where there is darkness, stability where there is chaos. I try a lot of people hate me. Thats okay. I dont mind whats going on . In particular i need your advice on dy dyken industries. I like it i like what we used to call the Engineering Construction businesses but the group has been brought down by a couple of poor performers floor. I say stick with dyken i like it. It does its job very well. To kevin in arizona. Kevin. Booyah, how are you doing . Chillmans good, couldnt be happier. Whats going on . 2018 i picked up some new core, downgraded, upgraded, reports in two weeks and im down 36 what is my call . Look, it is the best house in an incredibly bad neighborhood steel is something youre supposed to sell when we go into recession. People feel we are going into a recession. I would not sell it here it has a good dividend it is solid, well run. You have to hold on to it for the duration to bill in pennsylvania. Bill jimmy chill yeah. Booyah from pittsburgh steeler country. My stock is down 30 bucks from its recent high. They have a ton of exposure to china, most analysts have them at a hold. What do you think of anderson electric. This used to be a sport that was played, 11 guys on 11, they touch each other a lot so we want nfl back. We want nfl back emerson, here is the deal. Emerson is going to have a not as great quarter as i would like they have a lot of oil and gas and a lot of china i dont want you to sell emer n emerson, a Great American company. Angelo in connecticut. Angelo jim, big booyah from stanford thanks for taking my call. One more booyah for my father, hes watching too. I like him. I like him father son thats great. Diamondback energy. Diamondback energy, along with eog, partial energy we had on theother day, theyre all run well enough to be able to survive this basically nuclear war against oil and gas. But that said, i hate those stocks there you go how about gilbert in florida gilbert . Gill speak to me. Gill may not be there. Do we abort . Abort, abort, abort. To samantha in florida samantha hey, cramer this is a twopart question in regard to Airline Stocks all right the first part being what do you think about Airline Stocks with the possibility of a pivot to cargo usage needed, and the second part being specifically the is this a hold or an opportunity . It is going to be a trade if we get further good news in terms of the remdesivir, people will buy the Airline Stocks and then i want you to flip them and that, ladies and gentlemen, conclusion of the lightning round the lightni rndngou is sponsored by Td Ameritrade oh yeah, we gotta take off. You downloaded the Td Ameritrade mobile app so you can quickly check the markets . Yeah, actually im taking one last look at my dashboard before we board. Excellent. And you have thinkorswim mobile so i can finish analyzing the risk on this position. You two are all set. Have a great flight. Thanks. Well see ya. Ah, theyre getting so smart. Choose the app that fits your investing style. Aand were here for you ry day fespecially now,rs. Doing Everything Possible to keep you connected. Through the resilience of our network and people. We can keep learning, keep sharing, keep watching, and most of all, keep together. Its the job weve always done. It is the job we will always do. You might think that a pandemic would be bad news for the Health Insurance industry, but, you know what, it is the property and casualty industry being hurt the reason is simple, Business Interruption shortage, exactly what it sounds like, it interrupts your business, your losses are covered according to conventional wisdom, the Insurance Companies who wrote the policies could be on the hook for vast sums of money. It is not that simple. Many Business Interruption policies have explicit exclusions for pandemics it is like how every Hurricane Season were reminded most Homeowner Insurance doesnt cover flood damage most Business Owners wont be too happy when they notice the fine print and it is possible many many of the disputes end up in court however, i expect the insurers to prevail, which brings me to the Worlds Largest property and casualty insurer with a stock that has come down 33 from the february highs if they can enforce the pandemic exclusions in their contracts, i believe the stock is way too cheap. Do not take it from me lets hear it from evan greenburg, the chairman and ceo of a better sense of what is going on here. Welcome back to mad money. Jim, it is good to be with you this afternoon i hope youre well and keeping safe im trying to and hope same for you. I am. I am and im making sure im spending my time making sure were operating normally in these abnormal times well, ive got to tell you, i read a piece of research from Piper Sandler today, it says we are assuming the Insurance Industry resolves the Business Interruption claimant issue without bankrupting the industry now, evan, you know, ive been a long time client of chubb for everything i have. I do not want you bankrupted you are important for the country and the world. Can they really bankrupt you no. I dont think so, jim. And, you know, first of all, let me add perspective and just correct a little bit of i think how you might see things. Okay. This event, like, this health and economic crisis is going to hit the Insurance Industry like every other industry hard. Were going to pay tens and tens of billions of dollars in losses from both the Pandemic Health and the economic crisis. Think credit related, trade, credit, insuritinsurity, workerp or liability or the fact that a lot of businesses are shut down and property losses tend to increase then. I could go on and on so it is not simply a question of this legal cloud over Business Interruption. And the industry will pay in Different IndustriesBusiness Interruption claims, particularly for the Entertainment Industry and single events and things like that the question the question about Business Interruption that is outstanding right now, standard industry policy forms cover direct physical loss to a property, to trigger Business Interruption think of fire or a flood or tornado. That impacts your business, shuts it down. Business interruption responds by the way, the notion of is it value for money, about 70 cents of every Business Interruption, premium dollar collected, as we estimate it, is paid out in claims it is pretty good val yue for money. Pandemics, unlike other catastrophes, theyre not covered. And for the vast majority of insurers, and why . It is not because we just want to avoid risk. There say really clear reason. Most catastrophes, leakike a hurricane or earthquake, are limited by geography or time think of a hurricane it hits a certain geography and lasts for a certain period of time pandemic is very different you can imagine it hits all insureds, or large majority, for a loss, all at once. Right. It has no geographic bounds it has no time limit and so Insurance Companies have finite balance sheets. And the loss potential from a pandemic is infinite so the only one who can really take the infinite nature, financial nature of that, is the government the Insurance Industry has 800 billion in capital thats to support all the normal risks we insure, plus the catastrophe events that may incur, we may incur in oner where. I live in new jersey. New jersey doesnt want to make you pay. And new york wants to make you pay. These states, these legislatures there is lawmakers who want to make you pay you would be bankrupt if they make you pay we would. There is a there is a Little Something called the constitution and sanctity of contract is fundamental to the u. S. Constitution you cant just retroactively change contract. That is plainly unconstitutional and the industry would prevail on that. And so i understand the frustration. The legislators i understand, theyre looking for a remedy, but this would be a selfinflicted injury at a time and create great uncertainty at a time when we have enough uncertainty and were trying to heal the economy is there any Silver Lining i want to give you two Silver Linings you can answer to. One is nobody is driving so there is very few accidents. And second, the courts are closed maybe the plaintiffs are willing to settle. I think thats i think those are short windows. I guess so. I agree with you. The trial bar is a thriving industry that knows how to make money. Im sure theyre getting a good rest while the courts are closed. I dont know. I guess im glad to hear that the constitution will prevail because i know that it is possible that the the Insurance Industry for those of us who have had to use it in good and bad times is too precious to be wiped out for something, youre right, it is infinite we dont know when it is you would never take on that risk. Maybe somebody did, though, evan maybe somebody wrote pandemic insurance. They got to be there is, there is. There is pandemic insurance out there. Different insureds bought special forms that covered pandemic, and those claims will be paid. Whoo. There is no doubt about it, including chubb, where we specifically provided that coverage, well all willingly pay. Okay, all right look, i know youll pay, thats what chubb does. But im glad to hear i needed to hear that constitutional stuff the research is just way too negative i want to thank evan greenberg. Youre exactly right. Evan greenberg, chairman and ceo of chubb and the dean of this industry. And once again, i am a client of chubb for everything i do, i think it is important to point that out stick with cramer. What is this covid19 pandemic mean for the Life Sciences industry . You might think it would be a great time for anyone even remotely connected to diagnostics. Lets call it knee audiennuance. Lets take these guys that have really stepped up when the Iowa Department of Human Services ran out of masks, one of the nearby facilities started 3d printing face masks they started making their own. They to withdraw guidance. Why . The company pointed to a quote, a significant disruption in Business Activity in late march, particular there i in tly in u. Even this industry is being hit by the lockdowns but there is a lot more to this story. So lets check in with the president and ceo of Agilent Technology to get a better read on the Company Welcome to mad money. Hey, jim. Thank you for having me on today. I appreciate that great overview of what the agilent team is doing. I remember the day that you were spun off. The largest Silicon Valley spinoff from hewlettpackard. You always had the best science, which brings me to not the change in guidance, but the fact youre rising to the occasion. A lot people saying why isnt testing happening faster you have stepped up to make it go faster with bravo, correct . Absolutely. Thank you for the recognition of the team our team is answering the call here were open for business. And answering the call and teams are stepping up. They know theyre working for a higher purpose you mentioned our bravo equipment. We have got to find ways to accelerate the flow of testing and also the number of testing kits out there available in the market so as you know, jim, were playing a role in both places. Bravo, automation piece of equipment that makes testing go faster when you do something, you have a great piece on your website called the need for speed, you do more testing, you do faster testing, but then sometimes novices like me say, okay, look, theyre talking about doing sequences of microrays. Im this sure if im a doctor im saying thats why things are going faster i need to understand what that means. Youre exactly right. You have a good command of the science, i maust say. It is about speed to answer and we talked about the automation aspect of that you also mentioned the microrays. Those are made here in our santa clara fabrication this allows us to look at multiple sams. Do you say, this is what this is im doing a hopeful show tonight it is the kind of company i say it says what do we have . What do we have in the arsenal that can help beat covid19. People dont think we have these companies in this country anymore. Agilent is one of those companies. Absolutely right. And this is so energizing for our team, so happy to share that with the audience today. You think about the three areas that were in this battle where science can play a key role here, to help out beating this covid19 virus testing, we are just talking about, also vaccine development. And we have some of the worlds leading Companies IncludingManagement Technologies paying a key role in the development of these vaccines so we are working with a number of our former partners with our team in colorado here in the united states. There is a group of people led by sadly i went to harvard, but the harvard public i wont hold it against horton. The guys in harvard keep telling me, forget, it everybody will many people will get it in the end, were in the going to be able to get that vaccine in time. Stop thinking it is going to be a year to two. It is going to be three to five if anything. Youre in the thick of it. You know we have Great Technology in this country where are you in the idea that maybe it is not just being optimistic and overenthusiastic to believe we might get something here yeah, jim i dont want to underestimate if you will the work that has evolved to create a vaccine. Im optimistic i have several Board Members right in the thick of this as well with their companies. And when youre looking across the industry, ways to attack this problem and i dont think it is a matter of if, it is a matter of when. It is going to happen and it cant happen quickly enough. I think there is reason to be optimistic in the long run here. You have a sizable business in china, which hurt your previous earlier in the year but came back and why is china able to come back . Is it because it is a society that is tightly regulated by the government what are they doing that they manage to be able to not flatten the curve, but eliminate the disease . Yeah, thanks for that question and as you may know, China Business is pretty important over 20 of our revenues are in china, a great Growth Engine for the company over the last several years. I cant speak to the Chinese Society in general, but what i can speak to is what i have seen from the agilent team. Through this wonderful Digital Technology we have, i spoke to all 1200 of our china Team Last Week and when i talk to them about was they set the example for the rest by taking care of themselves during the worst of the pandemic and finding ways to work with our customers on a through digital platforms. And their business now returning back to work is coming back online so they really have set the example for the rest of agilent to follow. You came up with 3d masks, Hand Sanitizer, is that because you have always been inventive our team loves a challenge. We said, listen, we have the front line healthcare providers, and we dont want to be taking very important Hand Sanitizer away from them were a company of chemists. We can figure this out and we did in california. A company of chemists and inventors, we do invent things here, we do create things here and we do step up when we have to mike mcmullen, letter a, thank you so much, great to have you on the show. Thank you, jim. Mad money is back after the break. One part of one study rev l revealed that remdesivir had some pretty good success and thats why the market is going up so much after the close we need to see more information because there was no placebo, but it was heartening and there is no way around it. Better than it was yesterday always a bull market somewhere im jim cramer see you tomorrow scott wapner begins now. It will be great market better than it was yesterday. See you tomorrow good evening. Day 109 of the Coronavirus Crisis major developments futures are surging on word that a drug is getting good news in early data second, boeing saying it will resume commercial airline production in washington next week and finally, new details on how the president wants to reopen the economy. Giles