Transcripts For FBC Mornings With Maria Bartiromo 20240713

With second largest point gain on record. Up 1,173 points yesterday for the duh industrials, that was 4 and a half percent. Nasdaq was up 334 points. About 4 . The s p 500 also higher by a quarter percent with a gain of 127 points. Coronavirus, crisis continues, california declares state of emergency as the number of patients in the golden state rises, the house passing 8. 3 billion bill to bat it will virus, the senate due to vote on that today. United and jetblue cutting flights to the United States, all that coming up. Samestore shelves, heared out of clorox and canned soups. Senator Bernie Sanders releasing ad barack obama praising him and joe biden hitting back and Mike Bloombergs expensive run to the end and is Elizabeth Warren coming next . Mornings with maria is live right now. Maria we begin with another volatile day in markets this morning. Take a look at markets overseas as we sea big selloff in the u. S. Cac quarante in paris down 91 and dax index in germly lower 120 points. One and a third percent. Many asia overnight markets took a cue from yesterdays performance on wall street. Volatility is wild. Best performer was hong kong up better than 2 and shanghai composite in china up almost 2 . China allocating nearly 16 billion in coronavirus related funding. The yield on the 10year treasury looks like this. Look at the yield continuing to go lower below 1 again. The yield has been falling for 10 consecutive trading days and, of course, people look at this and say is this an indicater of recession on the way, the yield. 96 , below 1 this morning. Oil prices, check the price this morning because opec leaders are meeting today. Pressure is mounting for significant cut in production as the coronavirus hits demand and as you see oil all the way down to 46. 58 a barrel. We were just talking about 52, 53 on oil. Top stories that we are watching this morning, california and Washington State, each declaring a state of emergency due to the coronavirus. 11 people are now dead in the United States according to cdc. Meanwhile a cruise ship being held off california after a man who sailed on the ship last month died from coronavirus in california. Thousands of passengers may have been expose and cdc will check passengers once the princess docks in San Francisco. More than 3,000 deaths with more than 95,200 cases of coronavirus across the world in 79 countries currently. Facebook making adjustments due to the virus this after the social media giant revealed an employee who worked in Seattle Office contracted the disease. The office is now closed until monday. Facebook encouraging employees to work from home. Its the same story over at motorcycle soft meanwhile where employees based in seattle or San Francisco are being encouraged to stay home until march 25th and then theres apple and netflix reportedly latest Companies Planning to sit out the south by southwest festival as of now that event is still expected to go on. This is a big moneymake e for the area. A lot of cancellations of conferences happening right now. State of emergency remaining in effect in tennessee this morning. 2 days since deadly tornadoes ripped through the national a the victims range in 2 to 67. Officials say 21 people remain missing. The storm widespread damage shutting down highways, knocking down power to thousands of customers, flags in the state being flown half staff. President trump to visit the area tomorrow. General motors tune of 20 billion, unveiling new products and show casing an improved battery pack, reveal meant to assure investors of the companys commitment to taking on tesla. Stock this morning down along the rest of the market down 1 and a half percent on gm. Coronavirus concerns. Medical screener at lax, Los Angeles International airport has tested positive for coronavirus. It is unclear if the person contracted the virus at work this as 2 u. S. Airlines are cutting back on flights and on spending. United airlines will reduce 10 of domestic flying next month and 20 on international routes. Jetblue says its Cutting Service by 5 and closely monitoring booking trend to see if more reductions are required. President trump weighed in yesterday at the white house. I think where these people are flying its safe to fly, large portions of the world its safe to fly. We dont want to say anything other than that, and we have closed down certain sections of the world and they closed them also. They understand that and they understand it better perhaps than anybody. Maria joining the conversation this morning moodys capital john lonsky, dagen mcdowell, steve forbes joining us as well. Great to see everybody this morning. Good to be with you. Maria the president has to walk this balance ensuring hes not creating panic, dont fly stay home but ensuring the people understand the severity of this. My sources tell me we will hear many, many more cases, hundreds of thousands of cases in the United States. Thats not to panic anybody because the majority of these cases will be okay, youll just go through treatment, there are therapeutics to treat this but its scary, cancellations across the board. Dagen its not just Leisure Travel but really corporations telling employees dont fly. Just this week ford motor employs 2,000 people told people to stop international and u. S. Domestic air travel and and use Video Conferencing instead. More than half respondents to survey they said they didnt know when travel would resume. Maria thats why we are seeing volatility in the markets, john, 3 banks over the last week, no Earnings Growth for s p 500 in 2020. Wow, that follows no Earnings Growth. What we are hoping we see improvement once the virus is over. Once the greatest impact has past and thats why the fed has to keep Interest Rates low to at least provide some needed support. Maria yeah, its interesting to look at expectations for the next fed meeting. The fed cut rates 50 basis points and theres actually a big expectation that we get another cut on march 17. Dagen wall street journal did ad, his analysis, why the fed is likely to cut again. Maria 60 chance that is we will get another cut in 2 weeks. The fact of the matter is its not going to help very much. Whats hurting is the uncertainty of the virus and the key things is in terms of the markets, its not just the earnings prospect now but what the trend will be later this year. Things will start to move up once this is over which eventually it will be. If things move up you will see rebound in the market. Markets anticipate the future. Maria theres so much stimulus now that when we get through this its going to be real positive for the stock market. Even in january, some of the numbers were good in january before this thing really hit. The strength of the economy is there. Lets talk 2020, Michael Bloomberg backing out, throwing his joe biden behind joe biden after spending more than half a billion dollars in his campaign. Watch this. I entered the race for president to defeat donald trump and today i am leaving the race for the same reason. Defeating donald trump is uniting with the best candidate to do it. That candidate is my friend joe biden. Wow, people really thought with all of the money he was in it for a little longer. You have to have a theme. 4 years ago thought oh, how donald trump would do it, he had aspirational theme that poem related. What was Michael Bloomberg running on, he didnt like donald trump and great manager. He went left ward. Senator cory booker, home state of new jersey once seems as moderate, went far left and we saw on super tuesday most democrats, maybe they are left but they are not far left. Dagen i said this all along eventually people would have to hear the man speak and it would be beyond advertising on television and radio and on the internet. I can look like Kim Kardashian photo with enough filters and i can shave my body using apps, thats what this man was. Hes the dude who goes into a krispy kreme and eats pizza rolls, my father texted me and said he eats that pizza like hes used to being fed by someone. Maria he ate with knife and fork. Dagen no, he was in the box. He was carrying the pizza and my dad was like maria he was using his hands. Dagen he doesnt associate with regular folks. President trump it was the magic moment where he would get off the plane on the campaign trail and says where are you getting subs, guys. Maria this is something that we have talked about many times. The candidates need policies. They need to actually tell us what they will do for the American People. Just coming out and saying i want to take down donald trump its got to be positive. People want that positive. Dagen disavowed the policies that worked in new york. Maria a lot coming up. As you can see we are fired up. We are looking at companies that are actually seeing a boost as americans prepare for this virus and actually there are a couple of them so we will show them to you this morning. We will speak with former nypd commissioner kelly coming up. Wait till you see. Triples pointing to tripledigit loss. We are getting into it next. Twit near a flash. Tweets that disappear in 24 hours. Dream job, find out how you can get paid to watch the office. Back in a minute maria could be another rough day at the office. Nasdaq down 150 points and s p futures right now down 54 points. Of course, the volatility has been wild. We had a major rally yesterday on following joe bidens super tuesday win. Dow industrials was up, 4 and a half percent. Nasdaq was up 334 and s p up 127. Coronavirus fears are driving the market lower. Joining us specialist steven reed. What do you want to do in a day that you see the market like this and in the face of all of the volatility the last couple of weeks . As hard as it is you need to stay calm and be patient and time to reassays longterm investment goals an not just change those based on where the market is but really think about how much cash do you really need to keep especially in light of the lower Interest Rates and then put together a plan, put together a Shopping List and be patient and look to selectively buy the dips. I still like a lot of technology and Healthcare Companies out there. I think Equity Income looks very interesting now especially given where rates have again. Maria buy Dividend Companies . 3, 3 and a half percent and focus on quality. You have to be prepared for the market to go lower. We are not trying to call the bottom but buy companies in sectors that you wont be unhappy to own if the market does go down another 10 or 15 from here. Maria 10 or 15 , wow. Maybe im setting bar low and then have a plan to add if we see another 5 or 10 from there, i do thinks 2 months from now the market will be higher. How do you find people reacting to your advice . People wonder should i get out. Yeah, it really varies client by client. Im based in switzerland covering clients in the middle east. To now people are calm, we have seen some people rotate and we have been buying a lot of gold and thats helping our portfolio. Volatility can be your friend. Theres opportunities where you can say, look, i will get in a stock lower and wait in the meantime. Important to stay calm and keep longterm investment objectives close in mind. Maria worth noting that the market has not had a good reception to the emergency rate cut. The Federal Reserve comes out and cut rates half a point. Fed chairman jay powell admitted on tuesday that a policy move will not fix all coronavirus issues by the way. Yeah. Maria watch this. Recognize that rate cut will not reduce rate of infection and wont fix a broken supply chain. We get that, we dont have all the answers but with we do believe that action will provide meaningful boost to the economy. Maria do you agree with that . Dagen yesterday reported about the refi activity, we are seeing reaction to lower rates, look where we are in 10year. Everybody wanted a rate cut and we got it, wow, thats scary. We havent seen since 2008. Maria exactly. I will take it. I would rather see them be proactive to cushion the downturn in the economy but wont cure coronavirus and make Lending Conditions easier and help companies that will not cure dagen mornings with [laughter] i didnt see it. How do credit quality compare with 2008 . Much better. People forgot that we were starting from a wrong place. If we do have a recession i think it would be a shortlived recession. We will recover from it. Thats why we are selectively buying the dip. Maria the market will be higher one year from today. We will have probably no growth in the shortterm in terms of profits but in the second half and end of next year a recovery. 401 k plans hold . Hold if you have cash to work. Maria great to get your insights, welcome home for a couple of days. Thank you, good to be good. Maria coming up recall alert, ikea recalling dresser that could put children at risk. Bernie sanders confusing new ad, is this an endorsement . We will take a look. Stay with us. I dont see it. 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This is exactly what Michael Bloomberg did, dagen. He had an ad with president obama saying all the nice things about him and obama team said it wasnt an endorsement. Are they trying to say its an endorsement but its not really a endorsement. Dagen this is not an endorsement and effort by the Sanders Campaign to essentially troll joe biden and the people working for him saying, where is barack obama, why hasnt he come out and endorsed you, why hasnt he come out with any support. I think we have made it very clear in this program that hes not plan to go say until anything until a nominee is picked. Its looking increasingly that Bernie Sanders will win the nomination even with the small deficit after super tuesday, hard to come back and joe biden is getting the votes out. Look at virginia, turnout was almost double what it was 4 years ago, young people in 5 Southern States didnt come out, didnt vote for didnt even vote in the primary. Again, the whole bernie argument is falling apart. This looks desperate to me. Maria this is getting uncomfortable, okay, because president obama is sitting out endorseing anybody and Vice President there in lead, joe biden and by the way, obama endorsed Justin Trudeau in canada, so whats the deal . I think he still has delusions that somebodys name who has not come in and wants to stay good on everybodys side. Maria hillary or michelle . The latter. Dagen michelle is not going run, number one selling memoir of all time. Theres no way on planet earth, on mars, on pluto that Michelle Obama is running for the presidency. She hates politics. Did you see her face during inauguration a little more than 3 years ago, she couldnt wait to get away from those people. Joe biden didnt need me, he might need some help fund raising which that money will line up but he doesnt need president obama. You have so many people, hillary is looking into the mirror, john kerry, im ready to do it. They all have the illusion and obama is wise to stay on the side. By the way maria i dont know if he should be using voice in ads, thats misleading people. Look at what bernie did in vermont, he got barely half of the vote. It was a pathetic showing and he knows hes in big trouble. Dagen biden won maine. Biden won maine and second in massachusetts. Maria when are we expecting Elizabeth Warren to step down . I think the biden people want her to stay in. Maria corona virus is boosting companies, some companies, we are looking at which ones are seeing a jump as americans prepare for this very serious situation that we are facing. This as we are focused on more than 400point loss at open of trading, dow industrials down 467 right now. Then what happens when when you cross peeps and corcs, we will show you next. Theres smart and then theres street smart, like a hybrid with best in class epa estimated range of more than five hundred eighty two miles. And ford copilot 360 technology to help you outsmart some of the things youll encounter on the road. With more available second row leg room than a chevy suburban. This is the completely reimagined, street smart 2020 ford escape. Maria welcome back, good thursday morning, everybody, thank you so much for joining us, im maria bartiromo, it is thursday march fifth, 6 31 a. M. On the east coast. Markets are selling off this morning once again. We are expecting a tough open today with dow industrials down 475 points, nasdaq down 171, this on top of the big rally yesterday. The markets surged yesterday, the dow and s p 500 with their second largest point gain on record with the dow up 1,173 points in powerful rally yesterday. Oil prices this morning look like this, reuter is reporting that opec leaders are agreeing on cut as coronavirus hits demand. You see what happened to oil . We were looking at decline in oil, made a complete reversal in last 10 minute. Interest rates rockbottom levels, look at the 10year. It has been declining for ten consecutive trading days and today the 10year is at. 966 , down 9 and a half basis points. European markets given early gains and turned negligentive. The cac quarante in paris is down 98 and dax index in germany lower by 2007. In asia green across the board. Hong kong hang seng index better than 2 . China allocating 15 billion in coronavirus related funding. Happening overnight the socalled dooms day mother extradited. Cheryl maria, good morning, we have been following the story. Lori vallow to face a judge tomorrow. Vallow arrested in hawaii last month. 7yearold j. J. And 17yearold hiley ryan have not been seen since last september. The Consumer Product Safety Commission is urging those who have one to immediately stop using it. It is not properly anchored to a wall, ikea will give you the anchors to the wall, by the way. Well, forget tweeting, twitter is testing a new feature called fleet with post disappearing in 24 hours. If you dont like it, you have 24 hours. These are only able to respond via direct message much like instagram stories. This is currently only being tested in brazil. We will see if it becomes permanent and finally the peeps in Easter Basket could go on your feet. Iconic easter Candy Company teaming up with crocs, the shoes will come in blue, yellow and pink and they have special charms on them. Limited Edition Shoes available online. They will cost, maria, about 50. Theres a little easter fun for you. Maria i like it, i like the crocs and they are super comfortable, thank you, cheryl. More than 90,000 worldwide are affected currently. Pharmaceutical companies are raising to develop a vaccine. Healthcare professionals urging people to wash hands for 20 second. Taking mass transit, flying overseas or attending a crowded event are risky but american deaths so far proof hospitals and Nursing Homes are the most dangerous to be during this type of outbreak. Joining us the former Lieutenant Governor of new york, New York Post columnist, committee to reduce infection deaths, betsy mccoy. Great to see you. Thank you. Maria very important story in oped that you wrote. Thank you, of 11 deaths tragically 7 of them are linked to a nursing home on the west coast and you will see this terrible pattern repeated as this virus breaks out across the country. Nursing homes and rehabs where people go after surgery, for example, are the most dangerous place to be because Infection Control is so shoty. Generally this virus that if one person is infected that person will infect two more but in a nursing home one infected person can lead to carnage and thats what we have seen here and as i said, it will be repeated. The other people who are most in the cross hairs of this virus are hospital patients and healthcare workers and already, again, on the west coast two or three now healthcare workers where back of alley hospital somebody came to seek care when they were unknowingly carrying coronavirus are already testing positive. History shows that this will be the biggest problem in the United States, that this travel infection will quickly morphed into a hospital and healthcare disease. Maria why are hospitals and Nursing Homes so vulnerable then . Because Infection Control in these institutions is way below what it should be. Think about it. In an ordinary year without a coronavirus 72,000 people die in hospitals from infections they contract after they go to the hospital and 380,000 nursing home patients die from infection. Some of those are not preventible. Some age related, pneumonias, many are caused by inadequately cleaned equipment and poor protocols and failure to observe Infection Control standards and we should be running boot camps all over the country right now, state and federal house authorities to train workers because theyve also going to succumb to this. When sars came to canada, they caught it in the hospital, visitors, workers or patients there. Why arent hospitals required to post each month how many patients die from infections received after they are admitted to the hospital . I guaranty grow that information was readily available youll see a cleanup come to our website hospitalinfection. Org. When i founded the organization 15 years ago, not one state was required to not one hospital was required to disclose its infection rates. Now 38 states require hospitals to annually disclose their infection rates and we are aiming for 50. Maria unbelievable. Come to hospitalinfection. Org for that information. Maria how valid is the idea that we should be keeping 6 feet between one another . Well, its always desirable to avoid the viral droplets but here are the 3 tips to keep safe. Number 1, clean hands frequently, 20, 25 times a day or more and avoid touching your voice. Maria okay. Number 2 stay out of the emergency room unless you really have an emergency because if you go to the emergency room, you might be sitting next to someone unknowingly carrying the coronavirus and come home with something much worse than you went in with, right . Maria okay. Stay out of the er. Right, right. Maria avoid touching face and cleaning hands frequently. Are those the 3 . Yes. Maria okay. By the way, President Trump said he hasnt touched his face in 2 weeks. High technologies now. The technological innovation can help solve this problem as it always does and there are now technologies that can deactivate viruses and automatically continuously disinfect surfaces, they use them in food processors, bottling plants, its time for healthcare institutions and we evaluate, we give them prizes and the companies that are developing the best methods of doing this and now is the time to roll out some of the high technologies. Maria yeah, i think the story about hospitals and Nursing Homes is so important. So many of our viewers either have parents in Nursing Homes or dealing with issues in hospitals and they really need to understand the risks. Dagen my mother got a fetus infection as she was immuno compromised and almost killed her. The most prevalent hospital infection now. Dagen its appalling that these hospitals now we are talking about the coronavirus but that they are as filthy as they are. Thats right. Maria executive producer this morning said we dont even have enough bed. Shortage of equipment. The plastic gloves, the masks, general equipment. This is what Peter Navarro has been working on in terms of getting supply chains back to the u. S. Lets talk about the beds. Oh, yes, theres definitely a problem with space as well. Maria new hospitals in china. On the other hand, lets lets give everyone a little perspective because i feel so much panic everywhere i go even in the green room this morning and the fact is that 9 people have died here. 18,000 people in the United States have died so far in this moderate flu season, so although this is a threat and we need to get ready for it, the regular flu and other things 28,000 people die every year. Maria thats the whole point. We have to walk this balance in ensuring that we are giving the public the information they need and not panicking. Betsy mccoy. Coronavirus boosting companies. We are looking at which ones are getting a lift, have you seen clorox stock lately . Crying foul, Buffalo Wild Wings capitalize on wild madness. When we come back our Retirement Plan with voya gives us confidence. Yeah, they help us with achievable steps along the way. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. What you want, baby i got what you need, you know i got it all im askin is for a little respect excuse me maam, would you like to have my seat . Respect find out what it means to me respect take care. Tcb, oh sock it to me, sock it to me, sock it to me, sock it to me a little respect maria welcome back the coronavirus and the business impact. Take a look at Global Markets this morning remaining in decline over coronavirus fierce as fears as cases spread worldwide. But there are other companies that are actually getting a big boost from this virus with the stock prices on the rise because they make products we need right now. Joining us daniel, thanks for being here. One company that is doing well is zoom communications. I believe its reporting earnings this morning. Yeah, 50 so far this year, maria. When you look at the companies that are going to benefit from whats going on with the coronavirus, if youre going to be quarantined, what is it that you need . Its very interesting related to zoom, jpmorgan is actually doing a test run right now where 10 of their employees are going to be working from home, so how are they going to be communicating . Well, tale teleconferencing so this is one of the companies that will be benefiting. Theyll be fallout of this. Is this going to become permanent and it has an impact on Office Rentals Going Forward . Maria we should point out that the stock is down this morning on the premarket because it reported last night and there was a lower than expected number there. Over the last 3 months its up big time but this morning its 5 on zoom. You say theres a boom investment there. You go to the stores and you see empty shelves right now on a lot of products. Yes, clorox did a smart thing. They actually anticipated this was coming and they are going to benefit i think pretty dramatically over at least the next 2 quarters because the shelves should not be empty as it relates to this disinfectant made by clorox. Maria how about a company like cosco seeing increased business as customers stock up on gods and there goods and a lot ofs are selling out on cosco . They cant keep up with demand. You see tremendous lines, people lining up to buy in bulk and for the first time in one of their locations in oregon they actually ran out of toilet paper. Thats never happened before to them, so you talk about a crisis, thats one. Maria you said that the shelves are all empty. Dagen people will come in people are angry because theyll go to a Grocery Store and they cant buy literally pasta. Its sold out in new york city. Things like cans of soup, for example. Maria campbells could very well see a boom in business as well. People stocking up on canned soup. Dagen i question that the stocks have already reacted. Is this sustainable after the crisis . I think there are Companies Like zoom that are going to be be able to sustain this and probably a beginning of a trend for them but, sure, if you look at when we have natural disasters and we see the reaction like at a home depot and lowes, yes, they get the blip and things get back to equilibrium. I think the companies are benefiting right now but you have to think about this. Theres so much attention on this. Is it going to change the way people actually live Going Forward particularly as it relates to a company like clorox, have people going to be more mindful related to disinfecting and the answer is yes. Maria daniel, thank you, great subject, angle to look at as well. Good to see you. Thank you, coming up the amazon of electric vehicles, inside look at one Company Gearing up to take on tesla. Plus a dream job despite the setbacks. Whats wrong, michael . I have gum in my hair. You do . This just stinks. Dont touch it. Maria find out how you can get paid to watch the office. Back in a minute. Edward jones. Its time for investing to feel individual. Theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. And mine super soft . With the sleep number 360 smart bed, you can both adjust your comfort with your sleep number setting. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. And snoring . No problem. And done. So, ill wake up ready for anything . Oh, weve got your back. So, you can really promise better sleep . Not promise. Prove. And now, save up to 600 on select sleep number 360 smart beds. Plus, free premium delivery setup when you add a base. Ends march 15th maria welcome back, it is time for morning buzz contest edition. First of all, talk about a dream job, the office turns 15 years old this month and to celebrate usdish. Com will pay to watch, 9 days to watch 45 episodes. Is this on your list, dagen, of show that is you always watch . Dagen no, its not. I would do this if it was the original office with Ricky Gervais which is funnier. This is funny, Ricky Gervais always gets my money. I could pay if i stay home and watch the entire show, id pay them. Maria money for something. Dating app hinge is encouraging users to stay off the app for an entire day and go on date, monetary incentive too if you dont use the app for all of march sixth which is tomorrow and then you go on a date. 250 users will be chosen if they give details about their date. Well, i dont know. Get together and have 100 paid for the day. Movies, whatever it might be. The virus impact will be instead of the old phrase, your purrel or mine. Maria if youre planning to watch march madness Buffalo Wild Wings wants to hook you up. Live inside the chicago restaurant inside the march madness tournament. They are setting up the space, bunk beds, all you have to do is submit video why youre the biggest basketball fan ever. Betsy, im wondering what disinfectants they have there. Who knows whether or not they will have Live Audience with march madness with coronavirus great place to quarantine. Maria thats what i call a buzz kill. Thats a buzz kill. Dagen enough of that. Maria we are doing the morning buzz. Dagen basketball does not care about getting sick. My mother was the biggest fan. By the way, you will have to throw your clothes away if you spend that much time of Buffalo Wild Wings. Maria smell of hot sauce the whole time. Quick break. Futures are down, selloff of 400 points this morning. What is driving markets and what about this volatility . Then the next generation of the bat mobile, check this out, more of the cool car next hour mornings with maria, weve got the bat mobile shots. Maria welcome back. Good thursday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is thursday, march 5th. Your top stories right now. Markets pointing to a selloff at the start of trading. Dow futuresght now, one and twos percent, nasdaq down 166, and s p 500 lower by 59. Complete reversal to what we saw yesterday. In fact, yesterday we had a big surge, the dow, s p 500 with their second largest point gains ever, dow industrials up 1,173 points yesterday, that that was four andahalf percent. Nasdaq was up 334 and s p up 126, that was four and a quarter percent. The Coronavirus Crisis continues, california has declared a state of emergency as the number of cases in the golden state continues to rise. The house passed an 8. 3 billion bill to battle the virus. The senate is due to vote today on that bill. United and jetblue cutting flights in the United States, a new report says airlines could be taking a 113 billion hit. Senator Bernie Sanders releasing an ad featuring former president barack obama praising him, former Vice President joe biden is hitting back. And Mike Bloombergs very expensive run comes to an end. Is Elizabeth Warren next . Toyota recalls more than 3 million vehicles, what you need to know about the cars going back to the showroom. Plus, taking on tesla, what nikola is doing to charge up its electric truck business. Mor mornings witmornings withe right now. Oil prices are back and forth between positive and negative territory, but we had a pretty good move upwards in the last few minutes because opec leaders agreed to cut production by 1. 5 Million Barrels a day, conditional on russias support as coronavirus hits demand. Oil has retreated back to flat. It is at 46. 77 a barrel on oil. Down a fraction. The yield on the 10 year treasury is lower, it has been down for 10 consecutive trading days and now it is down 8. 8 basis points, it is dropping like a rock this morning. It is below 1 1 . Overseas markets look like this, european indices have given back earlier gains and have reversed course in negative territory. The fq100 is down one and three quarters percent, cac is down 96, dax index lower by 185 points this morning. In asia overnight, green across the board after wall streets big rally yesterday. As you can see, the hong kong hang seng index and shanghai composite the best performers, up 2 . Some of the other top stories this morning, california and Washington State each declaring a state of emergency due to coronavirus. 11 people are now dead in the United States according to the cdc. Meanwhile, a cruise ship being held off california after a man who sailed on it last month died from coronavirus in california. The cdc will test passengers on the grand princess once it docks in San Francisco. There are now more than 3,000 deaths with more than 95,200 cases of coronavirus acourt reporters the world, 79 countries have been affected. Southwest airlines experiencing a significant decline in customer demand meanwhile. The Company Estimates that First Quarter revenues will be negatively impacted in the range of 200 to 300 million. And coronavirus affecting the worlds most famous secret agent, james bonds latest adventure being delayed, the premier of the movie being pushed back from the april release now to november. Fbi agents linked to carter page and the probe of him are blocked from seeking additional surveillance measures, the ruling coming from the fisa court and inspector generals report last year found significant errors in investigation, looking into whether the former Trump Campaign associate had ties to russia and we know that the department of justice already told us that two out of the four warrants to spy on carter page were unlawful. Were waiting to see the other two warrants and whether those were unlawful as well. The decision comes as Congress Faces a march 15th deadline on whether to renew surveillance and investigative tools used by the fbi. Viacom cbs looking to sell the Book Publishing business. They say they want to offload simon and shuster. Michael bloomberg dropping out of the democratic race, endorsing joe biden yesterday. I entered the race for president to defeat donald trump. And today i am leaving the race for the same reason. Ive always believed that defeating donald trump starts with uniting behind the candidate with the best shot to do it. That candidate is my friend and a great american, joe biden. Maria bloomberg joins Amy Klobuchar and Pete Buttigieg lining up behind the moderatejoe biden says hes the moderate frontrunner. Joining us right now is jim mclaughlin. Good to see you this morning. Great to be here. Maria your reaction to Michael Bloomberg stepping down now, abandoning this campaign. He was willing to spend up to 2 billion. He spent almost 600 million on this campaign. You know what . I think when its all saint done, its probably going to be closer to 1 billion believe it or not. Were getting late spending. We dont have the latest spending and whatnot. This guy had over 100 mayors from across the country that wound up endorsing him. Trust me, he was spreading money around to them and their foundations and all this other kind of stuff. Weve never seen spending like this. But im not surprised. I worked for Mike Bloomberg in 2005 when he was a republican so i had a pretty good idea that he wasnt going to sell at the national level, personsly in a hes person any a democratic primary especially in a democratic primary. Maria joe biden wants to give free healthcare to illegals, he wants medicare for all, he wants to raise tax, these are not moderate ideas. You are 100 correct. They moved so far to the left that barack obama was telling them they were moving too far to the left. Hes supporting open borders. Welfare benefits for illegals. The same things you just mentioned. This is not moderate by any stretch of the imagination. And weve seen him recently in polls, even though he just did well in the democratic primary, in polls in the battleground states, hes upside down and he has significant negatives right now because hes moved so far to the left. So the bottom line is we shouldnt take seriously those head to head polls between donald trump and these candidates like biden. A lot of them are the same polls that told us we would get Hillary Clinton last time. Theres even public polls out there right now where youve got President Trump is actually ahead in places like New Hampshire, hes ahead in places like wisconsin. Wisconsin used to be part of the quote, unquote, blue wall for the democrats and the fact that right now when nobodys really in the National Media is going after these democrats, theyre not really being held accountable and the truth of the matter is, President Trump is in really good position. Dagen i need to correct something i said. Joe biden of the 10 of the 14 states he won, he did win massachusetts. Bernie sanders couldnt even get that. Donald trump won combined wisconsin, michigan, and pennsylvania by less than 78,000 votes. That margin is wafer thing. You are exactly right. If less than 40,000 votes switched last time you would have had president hillary. Thats a scary thing. Thats why you cant take anything for granted right now. We even saw polls last week they had the president s job Approval Rating over 50 . Thats critical. In 2012, barack obama had 51 . 51 of the popular vote. George bush in 2004, 51 election day, that was popular vote. Thats critical. Maria even if the economy goes down. Were expecting a slowdown in the economy. Everyone knows why. But one of the things, though, one of the real advantages hes going to have, whether its Bernie Sanders or whether its joe biden, the president is going to be able to run on a record of success. Over 7 million new jobs. Hes gotten the immigration problem under control. You know, the democrats like to say that oh, this president lies and the National Media says it, have we ever had a president in our lifetime who has kept more promises and successfully kept them more than this president. Think about it. Heritage does an index on it. They said ronald reagan, everybodys conservative hero, he wasnt able to complete about half of his promises. With donald trump, twothirds of the promises he made, hes actually kept. And hes successfully kept those promises. Maria they just dont like him. This is not about policy. Jim, its good to have you. Great to be here. Maria market volatility, stocks erasing gains this morning on the heels of a nearly 1200 point rally yesterday. Take a look at where we stand. The 10 year yield is dropping like a rock, settling at a record low, sitting below 1 , it follows tuesdays emergency 50 basis point cut by the Federal Reserve. Joining me now is chief economic advisor, mohammed alion. Thanks for joining us. Thanks for having me. Maria what do you do as you wake up this morning and see the market down 500 points once again. That is what you expect. We are seeing three layers of complexity. One, as you cited. On the one hand, the virus continues to spread and that is complicating and stopping economic activity. On the other hand, we are having a policy catchup. Thats the first tug of war. Second, very a tug of war in technicals, people are trying to track money. Third, within policy, you have a tug of war. The whole of government approach is a good one. Lack of policy coordination is not. This is a volatile time as i told you last week. Be careful. Were going to have massive swings continue for a while. Maria massive swings continue for a while. What do i want to do . Are there places to hide in stocks or do you want to just raise cash right now . And youve got to react to what were seeing in the bond market as well, the 10 year dropping like a rock. So the 10 years dropping like a rock for two reasons. One is we have a massive wave of lower policy rates coming. Already the fed has cut by 50 basis points. The bank of canada has cut by 50. Australia cut by 25. Were going to have many, many more central banks. Second, people are pricing in what you and i have been talking about for months. This is a big economic shock. Its a big supply shock. Its a big demand shock. Global Growth Outlook is deteriorating and thats what the bond market is pricing in. Mohammed, is there anything the fed can do beyond cutting Interest Rates to help counter the negative Economic Impact of the coronavirus . Two things. One is focus like laser on market functioning. Make sure that the disruptions going on in the economy do not cause a market malfunction. That is very, very important. And the certain parts of the marketplace we should be worried about. Second, dont miss communicate. If miscommunicate. If you saw what happened after the fed decision the fed decision was fine for markets. It was the way it was communicated. Dont say its an emergency cut, and on the other hand say its an insurance cut. Which is it . When you do both, the markets will say oh. Theres a third issue out there. What is it, what does the fed know that we dont know. Be careful how you communicate to markets. Maria i think at this point were probably going to hear more about the fed buying securities, expanding the Balance Sheet once again. Theyve got to have more tools, mohammed. Bottom line, do you think the fed cuts if two weeks, march 17th, again . I think its going to be under enormous pressure. It will try and resist. The truth is, a cut by itself wont make people travel more, wont make people go to restaurants. You need two very important programs. Were starting to see it happen. One is an ability to understand the virus and start to contain it. And second, hope that we can get immunity up through a vaccine or recovery rates up. Thats whats going to help the economy ultimately. Maria thats why the president had those meetings at the white house with the pharmaceutical executives and the airlines. Thank you so much, sir. Thank you. Maria coming up this morning, coronavirus concerns, the mornings with maria team taking to the streets of new york city, fielding questions about the virus. Dr. Nicole sapphire is here when we come back. Ray kelly is here, talking bail reform and homelessness, wait until you see what he those say. Taking on tesla, the electric car maker racing new competition facing new competition and racing to its own product on electric trucks. Plus, chief Justice Roberts hits back, inside the growing feud between him and new york senator Chuck Schumer. Wait until you hear this. Batmans new ride, the superhero cargoing old school superheros cargoing old school, the pictures coming up. I dont know what it is. But i need that one thing. Youve got that one your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk while our compe whistling continues to talk. I want to tell you, gorsuch, i want to tell you, kavanaugh, you have released the whirlwind and you will pay the price. [ cheering and applause ] you wont know what hit you, if you go forward with these awful decisions. Maria you will pay the price, that was Senate Minority leader Chuck Schumer outside the Supreme Court yesterday, calling out Supreme Court justices over a controversial abortion case. In a rare statement, chief Justice John Roberts showing support for his colleagues, writing in part, threatening statements of this sort from the highest levels of government are not only inappropriate, they are dangerous. President trump slamming schumer for threatening the justice, tweeting this, this is a direct and dangerous threat to the u. S. Supreme court by schumer. If a republican did this, he or she would be arrested or impeached. Serious action must be taken now. Mitch mcconnell expected to weigh in on this later this morning on the senate floor. If a republican did this, this would be the top stories and the Mainstream Media would be talking about this morning, noon and night, dagen. Dagen its always shoe on the other foot issue. What if mitch mccon fell went after mcconnell went after publicly Ruth Bader Ginsburg or sonya sotomayor. It would be wall to wall coverage of how outrageous this is. But the democrats have been building towards this. We talked about it on this very program. There was an amicus brief filed by some democratic senators, led by Sheldon Whitehouse of rhode island, threatening to pack the court if they took up a gun case that involved new york city. They threatened them then and this is an escalation of that and its going to stop. Maria i think its outrageous. Whats amazing is schumer has his office didnt back off. They hit back and said trump hit the two justices the week before. All donald trump was asked was asking, they recuse themselves. He didnt threaten violence against them. Very different. But these democrats have no bounds and what Justice Roberts did i think is the beginning, especially after super tuesday. There are bounds in american politics and by golly People Better remind these justices. Maria good for chief justice for coming out and saying something. We need the Supreme Court to be independent and not political. This is outrageous and he knows it. The Supreme Court is going to make a lot of decisions that are going to be very unpopular with a great number of people but we have to respect the law of the land and if youre upset with that decision, then you maybe have to turn towards congress to try to reverse that matter in some way through a new law. But to threaten Supreme Court justices maria unbelievable. Thats over the top. Maria over the top for sure. Bernie sanders is embracing president obama, how hes using the 44th president s words in a new ad. Battling tesla, one Company Takes on the electric car maker, hoping to change the trucking industry. Thats coming up. Stay with us. Life changes. You cant stop it, just hop on the train. You never know whats going to happen. You make your plans and you hear god laughing maria welcome back. Cep tore Bernie Sanders heading in a new direction as the field for the democratic nominee narrows. Sanders embracing what seems like an endorsement from former president barack obama. What do you think . Watch. Bernie is somebody who has the virtue of saying exactly what he believes, great authenticity, great passion and is fearless. Maria the Sanders Campaign used video and audio of obama and sanders strung together from different times when obama said nice things about the candidate. Joining us now is herman cain. Its great to see you this morning. Thank you, maria. Maria what do you think about that, Michael Bloomberg did the same thing. I was told that he didnt ask the obama team. I dont know how obama feels about this. But whats your take on this . My take is real simple. Obama has been a closet socialist all along. He was a closet socialist for eight years because he did nothing to help the United States of america. He forced obamacare down our throats and he didnt do anything that specifically helped the lowest economically among us. So the fact that bernie is now using his words and obama also was in an ad with Michael Bloomberg, just basically underscores the fact that obama was a closet socialist. One other point, real quickly. Obama is learning that the color of his skin alone is not enough to sway black voters. Thats what bernie thinks. Thats what bloomberg thought. It isnt true. His color isnt enough to sway black voters. Hes a closet socialist. Dagen herman, its dagen mcdowell. It was those very black voters in South Carolina that led to a resounding victory for joe biden. It was jim clyburns endorsement, emotional, compassionate endorsement that led to him carrying north carolina, even virginia. Those obama era voters are out in force for former Vice President joe biden. Some of them are, dagen. But youve got socialist versus liberal democrats. Joe biden is a liberal democrat and a lot of people voted for joe biden a lot of black people voted for joe biden because he was obamas number two guy. That doesnt mean that all black people will do that. It simply means that some will basically back joe biden, simply because he was the vi Vice President of a black president. Maria you cant underestimate whats going on here. I mean, herman, youve got obamas former Vice President , joe biden, winning big on super tuesday. Partly due as you and dagen say to the black votes across the south. Hes currently in the lead with 566 delegates won so far. Biden won 63 of the black vote in virginia, 72 of the vote in alabama, around 60 in both texas and north carolina. His number one competitor is Bernie Sanders and Bernie Sanders comes out with an ad that obama is complimenting him on . I mean, you cant write this stuff. Wheres obama with joe biden . Well, heres the thing. Look, the black vote may have put joe biden over the top in South Carolina and in some of the other states. But remember, there were a lot of white people and nonblack people that also voted. Thats how he ended up with those resounding victories. The other thing to keep in mind is, yes, i believe that obama is trying to have it both ways. He is a socialist. Hes trying to help Bernie Sanders. Now, Bernie Sanders didnt get the turnout of the young vote he thought he was going to get, so hes trying to cow t tow to buid the numbers. Not all black people support joe biden because obama because he was obamas number two guy. Remember those three very specific polls that i trust, that was an emerson poll, that was a gallup poll and there was one other poll that said that over a third of black people support president donald trump. Maria yeah. It might be an ad but it does not mean that all black people support Bernie Sanders or support Michael Bloomberg. Thats all im trying to say. You have a very large number of black people that do not support Bernie Sanders, they do not support bloomberg, but many over a third support president donald trump. Maria ive seen the polls, spoken with owens among others that continue to say the support is rising for President Trump. Herman, its great to get your take on all of this. Thanks so much. Thank you. Maria coming up, battling coronavirus, one law merck is weighing in on washingtons plans to curb the spread coming up. Batman goes old school, the bat mobile challenging american muscle. The pictures coming up. I cant live with or without you. Maria welcome back. Good thursday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is thursday, march 5th. Your top stories, 7 31 a. M. On the east coast. Markets are selling off this morning, were expecting a messy opening this morning for the broader averages, the dow industrials down 450 points right now, one and two thirds percent. The nasdaq down 156. And the s p is down 55. No trend because the volatility has been wild. Take a look at yesterday, markets surged, the dow, s p with their second largest point gains on record. The dow industrials up 1,173 points yesterday at 4 00 on wall street. Nasdaq up 334 and s p up 126. Check oil prices, theyve been on the move this morning, back up in positive territory on reuters report that opec leaders have agreed to a cut in Oil Production by one andahalf Million Barrels a day, conditional on russia support as the coronavirus hits demand. Oil now at 46. 88 a barrel, up a quarter of a percent. Treasury yields are dropping, 10 year treasury now down 9 andahalf basis points, its below 1 . Remember, the 10 year is tied to mortgages. So this is going to create refinancing as weve seen, so its really important to understand the importance of why 10 year yields are down so much. Its been down for 10 consecutive trading days and this is what your mortgage is tied to and thats why its probably going to mean more people taking out mortgages and borrowing money. Overseas markets look like this, european markets giving back earlier gains, the fq100 down 116, cac down 91, and the dax index lower by 184 points. Asian markets pretty good showing overnight. After yesterdays strong rally on wall street. Best performer was hong kong and china, hang seng up better than 2 , shanghai composite up about 2 overnight in asia. China allocating nearly 16 billion in coronavirus related funding. A pentagon employee now charged with espionage. Cheryl casone with details there. Cheryl like a hollywood movie. Good morning. Pentagon linguist Miriam Thompson accused of leaking classified National Defense information to a Foreign National with known ties to hezbollah. She allegedly started collecting the information after President Trump ordered air strikes against Iranian Forces in iraq. Thompson was arrested last month. Toyota recalling 3. 2 million cars worldwide over a possible fuel pump issue that can cause the engine to stall. The callback affects trucks, suvs and minivans across the majority of the lineup as well as lexus. Toyota dealers will replace fuel pumps for free. Hollywood action director matt reed unveiled batmans latest super ride with newly released photos. The batmobile in this version goes rest tree. Retro. Some Kaye Batmobile drew inspiration from the classic adam west series in the 60s. The photos include shots of Robert Pattinson who is set to be the next caped crusader. Him being a vampire wasnt enough, now hes batman. Maria how can you not love this car. We are dealing with the Coronavirus Crisis and it continues. The house of representatives has passed an 8. 3 billion spending package aimed at combating coronavirus, the senate is expected to pass legislation later today. The bill allocates 3 billion towards developing a cure and 2 billion for the cdc to contain the outbreak. Joining us right now is georgia senator, Budget Committee and Banking Committee member david purdue and senator, good to see you this morning. Thanks very much for being here. Good morning, maria. Maria youll be traveling with the president tomorrow to georgia to visit the cdc. Before we get to that visit and what youre expecting, are you expecting the senate to pass this bill . Oh, i think so, absolutely. I think what were see, maria, when you have strong leadership from the white house, congress can actually act in a situation of seriousness like this. But i give President Trump a lot of credit. He recognized early this could be serious. And he and Vice President pence have mobileized and moved. We get updates pretty much every day. I think we gained a couple of months, actually, because of the early moves we made about quarantines and travel limitations and so forth and were educating the public about how to stay healthy and how to defend ourselves against this virus. Maria youre going to be with the president today going to the cdc. Whats the story with the cdc . Because theres been some serious incompetence there. The cdc first sends out all these test kits to the 50 states and then they call them back and say wait, dont test anybody, the kits are defective. Do we have the kits in place now and do you see issues in the cdc in terms of handling this . Well, first of automobile im extremely proud to have the cdc in georgia. Theyve been a stalwart over the potential pandemics. I give president Vice President pence credit on this too. We have the capability to do over 1. 5 million tests right now. So i think they moved on that very quickly, the cdc has. The nih is getting additional funding. Thats almost 10 increase in the nih Research Budget is what were doing in the supplemental. This 8. 3 is a lot of money and for somebody like me thats a fiscal hawk, its a serious issue to put that much money at this but i think what the white house is asking us to do is to put enough money aside so we dont have to be here every two or three months trying to appropriate money to solve the crisis. Senator, steve forbes here. In terms of measures being taken, is there discussions at least behind the scenes that we may have to do quarantines in certain parts of the country . I think the American People sort of expect that major inconveniences to use a mild word are in store for this. Is the cdc and the fda, do they have plans to impose quarantines if necessary where we just dont move . Weve already done some of that with flights that came back early in this process. I mean here in the United States, certain parts of the country just not allowed to leave for a while. There are plans in place as this thing might escalate. Lets keep it in perspective. In this flu season as you know, we had 32 million normal flu cases and 18,000 deaths already. Thats training. Here we have 160 cases and 11 tragic deaths. With those numbers, the president , the Vice President and all of the professionals here, this is a bipartisan approach. Everybody is on notice that make sure to make sure were ready for any results in this thing, including plans for quarantines or travel restrictions or whatever we have to do to contain this in the United States. Dagen senator, its dagen mcdowell. Do you think that this Virus Outbreak in the United States is a reason to make sure that in annual budgets that the cdc and the National Institutes of health are funded better than at least was projected in the president s budget from earlier this year. I know thats just a blueprint and a plan but there were cuts to the cdc, were there not. Yes. Meres a bigger issue. You talked about it before, so have i. Go back to the Disaster Relief around the hurricanes in the southeast, the fires in california. What we need in our federal budget is a contingency plan, contingency budget for these things. Most states have that. Most businesses have that. The federal government comes over here, we borrow more money and spend it in the emergencies. We need a contingency plan to deal with these things. With regard to nih, i think we need more funding there. Heres the issue. Cancer, diabetes and alzheimers are the three most expensive diseases we have right now. We need to focus on those in a way we havent been in the past. And in a way that i think right now we can prepare for these unexpected emergencies like this by having a contingency plan. Maria let me ask you this before you go. Does the government have any plans to use the military to set up temporary clinics and hospitals, should they be needed, given the fact that there could be a shortage of beds . Well, weve had it historically, weve had National Guard mobilize with issues. The professionals are advising the white house and congress about all the Contingency Operations that may be necessary. I think its way too early to talk about that sort of thing but i will say this to the American People. This is a serious issue around the world. Weve got Something Like 95,000 cases. But over 90 of those cases are still isolated in china. Lets keep it in perspective. Were preparing for the worst to make sure that we protect the country. Maria senator, thanks very much. We look forward to the update after your meeting with the cdc. Coming up, coronavirus anxiety. I am wondering how coronavirus is transmitted. Maria dr. Nicole saphier answering that and other questions about the highly contagious illness coming up. Taking on tesla,one company aims to dethrone the electric car giant. We take a look. Back in a minute. Ive been waiting for someone like you, yeah. All my life, ive been, ive been waiting for someone like you, yeah. swoosh sound beatboxing boom, boom, boom swoosh sound well keep building smarter suvs. To help keep you focused on the road ahead. And. The road beside. Did we mention the road ahead. With an available best in class. Epa estimated combined fuel economy and the technology to practically park itself. This is the reimagined 2020 ford escape. Maria welcome back. Coronavirus anxiety gripping the country and the world. The virus and Media Coverage leaving many with more questions than answers. We took our camera to the street to field questions from Everyday Americans to be answered by our expert right here onset. Joining me is the author of make america healthy again, fox news medical correspondent, dr. Nicole saphier. Thank you for being here. Our first question deals with the use of masks. Listen to this. Does it make any difference if i wear a mask on the plane. This is a great question. With spring break coming up, everybody wants to know the answer to this and the truth is, yes and no. Those loosefitting surgical masks are what most people are talking about, they can protect you from inhaling large respiratory droplets, but most people dont wear them appropriately. They dont cover their nose sometimes. They can give a false sense of security, meaning you have mask oranges you think youre not going to get infected so you dont wash your hands as much or youre not sanitizing your area. In an airplane they have filters in the air system that can filter out 99 of all germs. Thats pretty good. Keep your vent on. Dont have it blowing towards your face, that can upset nasal passages. The most vulnerable seat on the plane is next to someone thats sick or the row in front of or behind. So where you hit is really sit is really the biggest factor. If you see someone sick, you can ask to move. If you cant be moved, keep your vent pointing away from you and make sure you use good hand hygiene. Dagen if you cause commotion, they remove the passenger from the plane. I did that with someone with an open staph infection. If someone has symptoms on the airplane, you can ask the flight attendant, possibly they interest masks there, that one person can wear. Maria theyre in short supply, the masks are in short supply. The next question is one many new york City Residents are likely curious about. Watch. People eat outside, we have two infected in manhattan, how worried should i be. Maria mass transit. Thats a good point. I dont think that life as we know it should stop. So what we want to do is there are a lot of simple steps to take to decrease your risk of becoming infected. Now is not the time for shaking hands, highfiving or hugging people. Its flu season. Maybe you do a little elbow bump or you do a wave to someone. You should not be sharing food and drinks with people. If you can avoid mass transit, maybe consider doing that because you are in a very tight space with a lot of people. Its hard to avoid someone coughing close to you. If you cant avoid mass transit, then just try and maybe stay by a window, maybe open the window, make sure you wash your hands as soon as you get out and the truth is, more people are going to get coronavirus but you could get the common flu, you could be getting the common cold and the flu. So you should be doing this anywage just try to avoid very densely populated spaces. Maria what about these gloves, carry these in my bag so i dont have to touch surfaces. These are surgical gloves. You just touched the outside of the glove. So now its on your fingers. Maria this doesnt matter. Dagen i always do the bump anyway because this is me Walking Around in the building with my bags so i always do the elbow bump. People keep saying maria im talking about touching surfaces. People say were supposed to cough into our elbow, now were going to elbow bump. If youre bumping outside elbows, whatever. Gloves, that gives you a false sense of sciewmplet its easier to throw away gloves ooped put on new ones. You should still be washing your hands. Maria quick break and then cargo trucks going electric, one Company Takes on tesla, will it change how goods are shipped. Thats coming up. Stay with us. Im youre biggest fan, ill follow you until you love me. And reconnecting. Modernized comfort inns and suites have been refreshed because our business is you. Get the lowest price guaranteed on all Choice Hotels when you book direct at choicehotels. Com. Beware of threatening calls from telephone scammers pretending to be government employees. These calls are not from us hang up and report the call at oig. Ssa. Gov oig. Ssa. Gov theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories cars, trucks and suvs than any other brand about vehicle quality. Over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. [ fastpaced drumming ] its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Maria welcome back. Charging up an ipo, electric truck maker nikola motor is going to go public by merging with a special purpose acquisition company. After the deal, the combined company will be valued at 3. 3 billion. I spoke with the ceo for an side look at the company. Theres never been a better time in the world to go public for zero emission vehicles. Tesla has shown that. Theyre up over 100 billion in value. Were the leaders in electrification for heavy duty transport. We wanted to get the same value as tesla saw. Maria before you started, you said were the amazon of electric vehicles. I want to get to that. You saw this as a great idea, enough to make it one of your biggest investments in your spring fund, right . Thats right. I mean, the spring fund is its about additionality and most of it is Public Market investing, so were trying to be active around environmental and social goals because we think its going to drive value and change corporate strategy. Inside the board, thats what weve always done, with a different lens. Maria i know this is the guy you want to be with in terms of backing and support because you learned as much as you can about this subject and you have this belief in growth. Where does the growth come from, trevor, from your standpoint at nikola. Lets call it five years out. Nikola is unique. Were not a truck manufacturer, although we are, were really an energy tech company. So in seven years from now, nikola will become the Largest Energy consumer in the world. Thats insane to think about. And its because of how much energy is consumed in both charging electric battery trucks and Hydrogen Trucks and we control the whole infrastructure. So by doing that, what were doing is were building out 700 hydrogen stations around america and it wont just fill our trucks. It will fill all of our competitor trucks. The way think about the growth and the value of nikola, when you buy a diesel truck today you pay 150,000 for the truck and the Oil Companies keeps 1 million. Thats how much they make off of every truck sold. Maria youre going public with enough time for sort of individuals to get in in an early stage in terms of your growth. We had jay clayton on the sec chairman on a couple months ago and he said i want the rules to be loosened so people can get in on an idea sooner and we dont have another wework situation. You say there is a connection here. Tell me about the wework connection. Ultimately, nikola is going public early compared to most companies. Thats how its going to be in the future for a while. The reason why is when the wework debacle happened, most of the very large investors around the world that were piling billions into startups and Tech Companies said, look, we had no idea what was going on at wework. It was all confidential. We want people to have complete transparency and we want to make sure our money is protected. So what we did is that money in the private sector kind of became very difficult and you had to ive go up a lot and the public was dying for stock, to buy stock in nikola. Maria as major investor yourself, do you see this as a Technology Company more than a Vehicle Company . So let me follow up on trevors earlier comments. I live in california. Ive seen this money, big money come into these startups and the company doesnt really generate any real dna in terms of when do you need to make money, how do you allocate capital. So one of the other reasons to go public early is to have an Audit Committee and hit milestones. Maria thats a good point. And be profitable sooner, right, not subsidize the Customer Experience with free money from whoever, which is what a lot of a lot of it happened, which creates unsustainable companies. Maria you can see much more of my better view this weekend. Tomorrow right, maria bartiromos wall street, 9 00 p. M. Friday night. Quick break. Coming back with combating crime, former nypd commissioner jim kelly on bail reform. Hes next on mornings with maria. Maria good thursday morning, thanks for joining us, top stories, 8 00 on the east coast. A messy morning with the Dow Jones Industrial average down 500 points. The s p is down 59 points on top of a big rally yesterday, big market surged with the dow, the s p, the secondlargest point gain ever with the dow up 1100 points. 334, the s p is up 106. A down open after that, california and the state of emergency, a number of cases in the golden state rises, to battle the virus. The senate will vote for the bill later today. Forecasting a revenue hit after a significant decline in demand. Bernie sanders features an ad featuring obama praising him from the Vice President joe biden hitting back and Michael Bloombergs expensive run comes to a end. Is Elizabeth Warren next . Prosecutors are fighting and the homeless crisis takes a toll on business across the country. We tackle the issue with ray kelly who is here. Mornings with maria right here. Lets check oil prices, well prices up one third of one . Opec leaders confirming the group has agreed to cut production by 1. 5 Million Barrels a day as the coronavirus sends oil prices lower, they think this will lift oil prices. Yields on the 10 year treasury continues to drop like a rock, 10 consecutive trading days were the yields on the 10 year is down, it is below one , down 9 basis points at 0. 964 , this is tied to mortgages. Solidly negative, s p down 115 points. The cac quarante down 97 points and the dax index in germany down 198 points. In asia overnight the green across the board after wall streets rally china allocating 16 billion in coronavirus related funding. Top stories we are following, california and Washington State declaring a state of emergency due to coronavirus. 11 people did in the United States according to the cdc. There are more than 3000 deaths with 95,200 cases across the world, 79 countries have been impacted. Another cruise ship story, a cruise ship is being held off of california after a man who sailed on it last month died from coronavirus, on the grand princess in San Francisco. Apple is warning stores about a short a replacement iphones telling workers the supply shortage could last four weeks. Federal judge throws out 50 million lawsuit filed by Tulsi Gabbard against google, she claims google suppressed political speech by suspending her account, google disabled her account after the Automated System detected unusual activity after the first democratic primary debate, the judge ruled google did not violate her First Amendment rights because it is a private company. The president ial medal of freedom to the retired 4star general jack keane, a dear friend of this program, keane is a senior strategic analyst for fox news. In a statement the white house calls and, quote, well respecting added he devoted his life to making america safe and strong, the ceremony takes place next week. Jack keane will join me tomorrow morning on 6 00 am on mornings with maria. Join us, congratulations to the general. Market, to become a futuristic at a big selloff at the start of trading, without belows of the morning down 143 points, 183 points lower on the nasdaq. A roller coaster week for stocks, investors father now swinging 1000 points, two times in three days. Dagan mcdowell and steve forbes lose this market has been wild, volatile, i dont know if it will change anytime soon. Dagen we need to remind people a lot of the rally was because joe biden won so many super tuesday states with a resounding victory. It was Health Insurance stocks, you had the major health insurers, united health, molina up 10 or more. You had hospital chains that were up, drugmakers that were up. This is the thing god it is not going to be Bernie Sanders stock market rally. The market took a hit two weeks ago, bloomberg had the disastrous debate and Bernie Sanders won that debate and the next debate, swept nevada, people thought of my god, Bernie Sanders cannot only win the nomination but given the wildcards out there today he could conceivably win the election and the market cracked. Dagen you never know, risky bet, a lot of young people are following bernie. Is joe biden easier to beat than donald trump or do you think joe bidens policies will be similar . Yesterday at the white house Donald Trumps a lot of extremist people around joe biden. He calls himself a moderate but 5 trillion in tax increases, this guy is now moderate, he would not be good for the economy. Dagen at least hes not a socialist. Bernie sanders wanted to get rid of Health Insurance for joe biden is not that far left. Socialism light. Maria president obama is the closet socialist. I dont know. If you look how far this party has gone to the left it was under president obama. What is driving the market is the virus, dont fight the fed can i say dont fight the virus. Wait until it plays itself out. Yesterday was a good day for interest sensitive stocks, they did well with a 10 year yield under one . You mentioned refinancing, strengthening of Balance Sheets. Corporations, talk about how ratios of debt to cash flow are near record highs but lets not forget interest expense for a lot of these companies has moved forward and lengthening their maturities which mean, in a longer period of time before they need to refinance at some point in the future, and the risky output. Why isnt the government issuing bonds . It was the demand. The demand for the 50 year bond. It would sell out right away. They stick, the treasury is slow on these things. Back in the early 80s 15 Interest Rates, didnt but call provisions in. Maria dont know where that stands because Steve Mnuchin said the demand out there, you are right, with these rates why arent they putting something attractive in there. They are doing well because products are musthave product in the face of coronavirus, clorox stock 13 yeartodate. We have a lot to talk about. New yorks bail reform backlash. Ray kelly is here weighing in on that controversy. His former president obama backing Bernie Sanders . The new Controversial Campaign ad that makes it look like he is but is sanders spinning it out of context . A costly Campaign Comes to a close, who is benefiting and who is under pressure as bloomberg drops his president ial bid. A table for one. Why restaurants are seeing a boom in business from solo diners, back in a minute. One of the products i helped develop at 3m was a more secure diaper closure. There were babies involved. And they werent saying much. Thats what we do at 3m, we listen to people, even those who dont have a voice. We are people helping people. Well keep building smarter suvs. To help keep you focused on the road ahead. And. The road beside. Did we mention the road ahead. With an available best in class. Epa estimated combined fuel economy and the technology to practically park itself. This is the reimagined 2020 ford escape. I entered the race for the president to defeat donald trump and today i am leaving the race for the same reason was i always believed defeating donald trump starts with unity behind the candidate with the best shot to do it. That candidate is my friend and a great american, joe biden. Maria that was Michael Bloomberg dropping out of the race for president yesterday after his disappointing super tuesday finish. He abandoned has have billion dollar bid for the white house and endorsed, bloomberg joins Amy Klobuchar and Pete Buttigieg lining up behind joe biden. Joining us is but a lot of editorinchief bob q sack. Your reaction to bloomberg stepping out of this race. It shows you that debate matter. The first debate was historically bad. He shouldnt have been in the debate because donald trump said last night, might have helped him not to debate, this is a big deal because he got into the race because biden was faltering. Bernie sanders like he did in 2016, not going anywhere anytime soon but without a doubt biden is the front runner. That was different going into tuesday. Im shocked by what happened super tuesday because Bernie Sanders was looking for a big night and didnt get it. Maria what happened . Part of it is the establishment, parties locked. The biden people were surprised how will he did. Going into super tuesday he was looking for a draw at best and he knocked it down sanders, didnt knock him out. Buttigieg getting out and klobuchar getting out, a lot of people in virginia were thinking about voting for one of those two and went to biden. The momentum is with biden but there is another debate in midmarch, biden hasnt been great. Steve forbes, how much does he have to up his gain. He has senior moments, cant complete a sentence, the stamina and energy virtually one on one, he has to up his game. Great question because a lot of democrats were thinking he cant beat trump. He finished fifth in New Hampshire but he has the African American approach. James cliburn gave that address and was worried how the campaign, joe biden in particular, they said let it go, you will make mistakes but just dont be careful. He was being too careful. I would think warren drops out before that debate and it is one on one and bernie will be going after that. Dagen do warren voters go for bernie despite borrowing a lot of Campaign Ideas from Bernie Sanders but there is a lot of vitriol between not just the candidates but the supporters. Philosophically warren and bernie are similar but there is a personal conflict now and thats the question for Elizabeth Warren. What is your motivation. This is her last president ial run. Does she want to be treasury secretary . Who is she going to back . Shes under pressure from the left to back Bernie Sanders. That is the most fascinating thing to watch. Maria president obama seemingly endorsing Bernie Sanders, ive got to get your reaction. Bernie has the virtue of saying what he believes, great authenticity, great passion and is fearless. Maria sanders is regrouping after super tuesday performance. Joe biden, comes out with this ad. Obama endorsed no one including his former Vice President and wont anytime soon. Michael bloomberg did this on gun violence. Politics, people are going to spin it. A lot of people know that obama has not backed Bernie Sanders but bernie has to do things differently and this is a sign of it, trying to say i have worked with obama before but if you talk to somebody behindthescenes on the Affordable Care act Bernie Sanders was difficult to get that sixtieth vote. He even to leave voted but it was not easy. Does this mean Bernie Sanders will try to appear more moderate a reasonable or is he going to hard drive his hardcore left even more . I think he has to get more of the African American vote. He is unwell with latinos and this is an effort to have some separation between obama and biden which is very difficult. Maria that make sense. If he doesnt get more the African American vote he wont in the nomination. Dagen Bernie Sanders didnt bring young people out in greater numbers and four years ago in five Southern States joe biden won including that resounding victory where the turnout was nearly double what it was four years ago. People, number one, older voters over 45 which would include me remember the cold war and the horrors of socialist and communist regimes and they are not going to vote for somebody who is promising to take away medicare as it exists today, it is a 12 punch that knocked Bernie Sanders out in many Southern States. That is dead on, medicare for all heard Bernie Sanders. It hasnt passed the democratic house. They want medicare for themselves and that is why joe biden has a lot on the senior voters and they are more reliable than the Younger Voters which bernie has. Maria the search for survivors, a path of destruction, were taking you live when we come back. New york as they are reform backlash. Nypd commissioner ray kelly is here is controversy ways on the big apple and his take on americas Coronavirus Crisis as well. Stay with us. Santiago i never graduated from high school. I realized i wanted to go back to school because i didnt want to work these backbreaking jobs the rest of my life. With the help of my father and having my son, it was all the motivation i needed to come back to school. I felt accomplished. It made me feel that i could take on whatever challenges life throws at you. Vo find free Adult Education classes near you at finishyourdiploma. Org how you watch it does too. Tv just keeps getting better. This is xfinity x1. Featuring the Emmy Awardwinning voice remote. Streaming Services Without changing passwords and input. Live sports with realtime stats and scores. Access to the most 4k content. And your movies and shows to go. The best tv experience is the best tv value. Xfinity x1. Simple. Easy. Awesome. Xfinity. The future of awesome. Some people say thats ridiculous. I dress how i feel. Yesterday i felt bold with boundless energy. This morning i woke up calm and unbreakable. Tomorrow . Who knows. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. Make the world you want. Maria devastation and destruction after a series of deadly tornadoes killed 24 people. Grady trumbull live in cookeville, tennessee, the pictures are incredible. Reporter the National Weather service confirming the tornado that ripped through this area was ef 4 with wind speeds of 175 Miles Per Hour and as we walk up the steps to what used to be a home you can see how bad the damage is. This house is completely gone. Off in the distance you see the foundation of another home also gone and devastation all around, trees snapped in half and debris everywhere. They told us harrowing stories. Everything just exploded. It went through the wall, bricks, had a doggie door, they were flying through the doggie door. I held on and it was roughly 5 seconds and looked up and it was gone. Looked outside, we didnt have anything anymore. Reporter everyone we talked to in this area if they survived they want to help and people across the country want to help. The Putnam County has set up a Tornado Relief fund for the victims. They say 100 of the proceeds will go to the victims so you know where your money is going. I want to show you one last thing. This American Flag is dirty but not tattered and people in this community put it up on this makeshift flagpole to show their resilience. Maria i like that, resilience with hearts and prayers go to them. Grady trimble joins us, donald trump is going to tennessee tomorrow, he will be viewing that and speaking to the people in town. Coming up, futures at session lows, 623 points, the nasdaq down 200 for points and the s p down 74 points. I sit down with ray kelly and ask him about new yorks controversial bail reform law. Jeopardys newest champion, host alex trebek reaching a milestone in his cancer treatment, it is good news. Be right back. Maria follow us on his to graham, mornings with maria, behindthescenes actions and what your favorite segment again, good to our facebook page, more news with maria. For playlist on spotify, send me your questions and comments to me on twitter, maria marburger romo. I took your advice and asked my doctor to order cologuard, that noninvasive colon Cancer Screening test. The delivery guy just dropped it off. Our doctor says it uses advanced science. Its actually stool Dna Technology that finds 92 percent of colon cancers. No prep, and private. Colon Cancer Screening thats as easy as get, go, gone. False positive and negative results may occur. Ask your Healthcare Provider if cologuard is right for you. Maria we are one hour from the opening bell, futures near the lows of the morning, a decline of 600 a couple out of the gate. Reporter there is no direct answer but you have cases of covert that continue to arrive and the joe biden momentum off the table, people are focusing on the coronavirus but some airlines, that is a sector that continues to get hit, United Airlines will be cutting International Travel by 20 , this is in april and also cutting Domestic Travel by 10 . That shows airlines are being hit in ticket sales being hit in areas that are not the hot zones of the epidemic and freezing staff, freezing hiring, southwest down one after revenue followed significant supply and demand, jetblue said they would be trying to save cash by reducing hiring offering voluntary leads and these airlines but out the statement, that puts pressure across the board contributing to the selloff in the airline sector. Maria a possible setback for Bernie Madoff in an effort to get out of prison early. Cheryl federal prosecutors want the ponzi scheme mastermind to stay behind bars, lawyers asked for a compassionate release claiming the 81yearold has Kidney Disease and less then 18 months to live. Prosecutors say they have hundreds of letters from his victims who object to that request was iran a 65 billion, decades long scam costing them everything they have, he was sentenced to 150 years in prison. Alex trebek marks one year since his cancer diagnosis. The jeopardy host reached out on twitter to thank everyone and give a little insight about his fight. There were moments of great fame pain and Great Depression that made me wonder if it was worth fighting on but i brushed that aside quickly because that would have been a massive betrayal, betrayal of my wife and full meets jean and faith in god and the millions of prayers that have been set on my behalf. Reporter the end of the message by saying anything is possible with a positive attitude. This used to be a bad joke in a movie when the hostess called out table for one but that has changed. 35 of restaurant is this last year was a table for one, 27 for a party for two. Was the most popular meal to eat alone followed by breakfast and dinner, it is no coincidence the number of unmarried adults is rising, now covering 45 of the population. We know it is okay to eat by ourselves. Maria i love it, it is wonderful. The new York City Police Department Released monthly statistics showing increasing crime since the state and acted bail reform. There was a 16 increase in major categories, shootings up 27 , robberies of 35 , auto theft increasing by 70 and felony assault increasing by 8. 5 . Joining me right now his Guardian Group ceo ray kelly, great to see you. We talked about this before because of the bail reform law said crime increased as a result of that law going into effect january 1st. I have been up in arms about it, and i expected these things to go up in terms of shootings. What is your reaction . It could be, this rising crime could be a result of the new bail reform. We need more information to say that is the case but this was a significant piece of legislation but there was no public discourse, it was hidden in a budget bill, a couple hundred pages. This provision was 20 pages and there was no consultation with district attorneys, Police Officers, and judges, this shoved down everyones throat. Maria that is the reason for the outrage. It was hidden and we werent expecting. I came on this program a year ago and said i had dinner with an important source last night and she told me 3 quarters of all inmates will be released in the next year for a number of factors mostly because she told me they want to close Rikers Island and let these people out and come up with three different jails to compensate but they dont have the capacity of rikers but we didnt hear anything about it, my source telling me this and it wasnt out until was out. It was under the radar screen. Some bail reform is our good. And what they didnt do in this legislation is protect citizens in general. We need judges to be involved in making the determination, somewhat is dangerous as far as the public at large and that provision is not in the new york law and is in every other jurisdiction that has done bail reform. In new jersey it is working very well because they have judges involved in making determinations who ultimately may put the public at risk. Maria what about the idea that in new york we want to see Second Chances, the president doing Prison Reform and we want to see people have Second Chances so how do you tweak this . Do you believe they will take a second look at this and change it, give the judge discretion . That is a heated discussion mostly between democrats and the utterly better against making changes, democrats in the state senate that are for changes, they are concerned about the next election and being soft on crime. If it is improved which is a rumor that will be changed, it would be in another budget bill hidden again but this is not the way to make legislation. Maria not the way to support the police force. The nypd i thank them and give a shout out to all of Law Enforcement because they put their lives on the line to make sure we are safe but today given the fact it is no big deal to throw a glass of water on a cops head, throw milk on his head, attack the nypd they realize that is a small issue somebody got punched in the face. Just going to get let out on the street because it is a bail reform law. The police have a problem with the mayor that he is not supportive so that manifests in a lot of ways. Maria the other major issue, new york and other cities dealing with the homelessness crisis. In 2019, 78,000 Homeless People leading to an increase in homeless and campus, draining the city of 3. 2 billion to combat this crisis coming los angeles 36,000 Homeless People were accounted for, the citys Public Works Department regularly hauled away 1200 tons of trash from homeless and campus every month. We were in San Francisco, another nightmare, tents everywhere. What is the answer . Homelessness is a huge Mental Health problem. Some people say it is housing, that could be part of it but primarily it is a Mental Health issue. Surveys show 30 of Homeless People, very conservative figure have severe mental illness. We want to focus on that. We need resources to focus on treating Mental Health conditions that these folks have. It is not a police problem. The police are not going to be able to answer this. Maria does this city have the wherewithal to create homes, to create areas where the homeless can live instead of on the streets . There are shelters that exist now but a lot of Homeless People say they are unsafe. We need to focus on that and may be putting regular Police Officers in some of these shelters. Unions will not like that but you need to make them more hospitable, where they feel a sense of safety. Maria the other issue is sanctuary cities, something the trump administrative is focused on, the Trump Administration can withhold millions of dollars in Law Enforcement grants to cities and states to force them to cooperate with immigration enforcement. We know new york is the only state that will not show federal authorities the dmv data. The Trump Administration can withhold grants to localities in new york city, three other federal courts ruled it cant be done so this is going to the Supreme Court. The Supreme Court is really place where it is going to happen but im against sanctuary cities. We should be cooperating with federal authorities. Most taking that position for political reasons catering to a particular constituency. Maria look at the democratic candidate saying we want to give free healthcare to illegals, they are entitled to healthcare. How many illegals are in new york right now . Hard to say. We cant say how many are in the country, there are several hundred thousand and probably have been for a long time. It is the most diverse city in the world, this is where they want to be. This is where ice is working proactively but they are resisted by city government. Maria such a great commissioner and a lot of people wondering if you will run for mayor. Know. Nice to be talked about but never say never but i doubt it seriously. Maria first time you ever said never say never. I asked you multiple times. Great to see you. Thank you so much. Ray kelly joining us, lets go to studio b where Stuart Varney is preparing for his show. Stuart im not in a good mood. I find this volatility really ridiculous. Monday of this week the dow went up 1200 points, positive news on the virus. Tuesday it went down 800 points, negative news on the virus, wednesday we went up 1100 points, great, joe biden made a breakthrough in Bernie Sanders has crashed, politics did it. This morning we are down 600 points, back to the virus, bad news on the virus. I cant keep track of it. I dont think our viewers can keep track of it. The only people making money here seem to be big time traders with their computers and algorithms. I find this difficult to get to grips with and difficult to report on. Any sense of certainty or decency, i find this maria there were a lot of worries around this coronavirus and you know what investors do with uncertainty. You we thank you, see you in 10 minutes, breaking news. Bill diblasio confirmed there were two more confirmed cases of coronavirus in new york. I am here with ray kelly with the nypd. I didnt ask about coronavirus. What should the city be doing as we are expecting more cases. The question is what do we do is for individuals. Betsy mccoy who you had on the show was terrific, wash your hands 20, 30 times a day. I have been singing happy birthday to myself maria should the military be used to set up clinics, hospitals . We will see higher numbers. Are we prepared as a city . It depends on size and scope of the problem. Also, wild predictions, the military is an option, too early. Maria the First Responders will be the ones to deal with this. How do you protect the First Responders . If they are not protected all is lost. They wont go forward and help other people we have a big problem. Maria that is what betsy mccoy was saying, Nursing Homes, medical staff, they are on the front lines. Exactly. Percentages about hospitals that are not properly disinfected was quite dont think. Maria a great oped and great to see you. Ray kelly joining us. Bill diblasio confirming additional two cases confirmed in new york. We are eyeing a sharp selloff, lots of nervousness around the impact on the economy. Investors face a series of stock swings and worries about a slowdown in the economy, table are turning, i will answer your questions on social media tomorrow, will the end instagram and twitter . We will be right back, stay with us. Its surprising how the bigger a city gets. The smaller it starts to feel. Which makes it even more surprising, how big it feels in here. With sliding rear seats. And more available second row legroom than say. A chevy suburban. This is the completely reimagined 2020 ford escape. Thats it. Im calling kohler about their walkin bath. [ sigh ] not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Maria a selloff underway futures indicating of the kind of 542 points. A lot of nervousness about the coronavirus and its impact, on top of a big rally yesterday. Volatility has been surging, on joe bidens super tuesday surge, the dow and s p and nasdaq up 3 and 4 and 5 . 1173 was the gain on the dow industrial second most in terms of points ever. The Federal Reserve issued its first emergency rate cut since the financial crisis. They have a regularly scheduled meeting, joining us this chief economist at Harvard University economic professor, great to talk with you, thanks for being here. How significant are you expecting the slowdown to be . Putting the death and sickness aside the we are talking components, making it possible to sell their products. Some banks are predicting 0 Earnings Growth for the s p in 2020. What are you expecting . The us is the best position anywhere in the world to handle this not just on the medical side but on the economic side. It is a sharp slowdown. The rest of the world is going to be worse. Steve forbes here. In terms, and the fed cuts the rate of 50 basis points, they handle it in terms of statements they put out. Rescuing the economy beyond the government control. They are cutting rates, fiscal stimulus stimulating demand, chinese production lines cuts down and you can use demand but it is less effective but it is hard to assess at the moment. My instincts are it is a lot worse for china than the United States and we will get a supply shop out of that but it is unfolding. Dagen i have been reading a lot about the supply shock, and in the early 70s, pumping monetary stimulus to the economy that doesnt do much and fiscal stimulus. What about inflation . It is possible at the end of this that we get offered pressure on inflation. If there is massive fiscal stimulus, hard to imagine, we could see inflation. I dont think it will be desperately high, but 3 , 4 , everybody has a kneejerk response, everything pushes prices down, this might not. I would ask if i was the government i would rather have a bit of inflation van get it wrong, counteracting the demand shot. We have a highly leveraged he was economy is not a highly leveraged normal economy, is it your opinion that because of the high systemic leverage that this listens the stimulus we get from a percentage point cut and funds over time . It is certainly the case that we will get a lot of trouble in the us corporate sector but particularly in emerging markets if the global recession goes on. There are two triggers of bond problems, one is rising rates but the other is falling commodity prices. I dont know about stimulus. If this is serious shot, they need to cut 500 basis, i disagree with my friend been burning key, not that much the fed can do to beat fiscal stimulus but we have 1 trillion deficit that will go up with economy slowing down. There may be limits to that. Maria are you expected to cut from the fed in two weeks at the regularly scheduled meeting . I didnt expect the last one. I think a lot of people are concerned but they will talk about things. Fed fund, futures, 67 probability that by september, fed funds no greater than 3 eighths of one . Maria it sounds crazy and funny. Do you think china had a halt in terms of economic growth, you got to look at china first . China is the most vulnerable part of the economy because it had very adverse like slowing growth caught up with technology, stimulated the economy. Maria big portion of the economy. Thank you so much. Expectations for the february jobs report next, all about jobs next, stay with us. Boxed in, or held back. Especially by Something Like your cloud. Its a problem. But the ibm cloud is different. Its the most open and secure public cloud for business. It can manage all your apps and data from anywhere. So it can help take on anything, from rebooking flights, on the fly to restocking shelves on demand. Without getting in your way. Maria we are bearing up for jobs day in america tomorrow. Februarys jobs report tomorrow. Expectations call for Unemployment Rate to hold steady at 3. 6 . Lets get expectations, john. Jobless claims are still low. 175000. Dagen the weekly jobless claims fell by 3,000 in the most recent week. Watch inundator of consumer concern. The jobs report hasnt come out is ancient history. Maria okay. Special coverage of jobs report tomorrow, 8 00 a. M. Eastern, join us on that, have a great day, thanks to fantastic panel, Stuart Varney begins right now. Stuart are you getting tired of this . What we get is wild up and down swings that show no rime or reason. The winners are the big traders who can play volatility with their computers. 1200 points up and today at opening bell we will be down 160. Thats a 2 loss. We will get 2 loss also on the s p and nasdaq. Volatility, come on. Today the virus gets the blame. It is spreading in