Points. 770 is the yield on the 10year treasury right now. The yield on the 30year treasury below 1. 35 . It is now down 18 basis points at 1. 358 on the 30year. Mortgage rates are hitting record lows, how you can take advantage of this, these yields are tied to mortgages so we could see refi activity as well. Coronavirus crisis, one hundred thousand confirmed cases worldwide. That number is expected to increase. President trump says that the u. S. Economy could take a hit but says it is all going to work out and everybody should be calm. The democratic field is thinning out. Elizabeth warren the latest to drop out of the 2020 race but not making an endorsement just yet. Meanwhile this Jpmorgan Chase jamie dimon is recovering from emergency heart surgery this morning. The surgery was successful and dimon is awake and alert. Plus nashville recovery, President Trump headed to tornado ravished area today after approving disaster declaration, we will tell you there live this morning for a look at the damage and Recovery Efforts, mornings with maria is now. Maria lets check Global Markets this morning, kick it off with european markets on the heels of the selloff this morning in futures weve got european markets down sharply as the number of coronavirus cases grows and unnerves investors, ftse 100 down 200 points, thats about 3 , cac quarante down 189 points. The dicks index in germany lower by 390 points. Checking asian markets, following selloff on wall street. 2 on average depending on which market you look at. Some of the other top stories that we are watching this morning the death toll from coronavirus in the United States is rising to now 12, overall the number of cases across the world nearing one hundred thousand and in the United States maryland has confirmed the first state in the state, governor larry hogan says they contracted the virus while traveling in overseas and are in Good Condition this morning. In Washington State microsoft two employees have been diagnosed as well. President trump expected to sign 8. 3 billion funding today. Check out dramatic feel this morning, members of the California Air national bar delivering test accesses to grand princess cruiseship anchored off the coast, 3800 people stuck on ship after waiting to be tested after passenger died. Lastminute procedure was to repair an acute aortic dissection, operation was successful. Diamon check intoed the hospital early yesterday after experiencing chest pains while getting ready to work. Copresident daniel pinto are leading bank in dimons absence. Jpmorgan shares fell on news and today up 3 and a half percent. Harvey weinstein waking up in jail this morning, moved into the ricers island. He could get 20 years in prison, hes going to be sentenced next week. We will have the numbers for you and show you how it impacts markets. Expectations call for 175,000 jobs added to the economy in the month of february with Unemployment Rate holding at 3. 6 . Markets are down going into this market. As you can see we are seeing another serious selloff this morning with dow industrials down 518 points, thats up 2 right now. The dow dropping nearly 1,000 points yesterday, 969 points lower that was 3 and a half percent. Nasdaq down 279 and s p down 106. Joining the conversation this morning Stephen Moore is here or fox business Dagen Mcdowell and the wall street journal assististant Editorial Page EditorJames Freeman. We dont have clarity. Its reasonable to say that if you have the virus you dont know how bad its going to be, you know that supply chains are disrupted and Business Activity is taking a hit, makes sense that stock prices would go down. Its not forever, but it is saying Going Forward we will see some worst earnings than we expected but i would say on the Positive Side we will see how that employment report goes today. We have the Small Business jobs numbers yesterday, very good despite the virus concerns, very god hiring and wages rising in the u. S. Small Business Economy in february. Dagen you have to look at yields, dagen, Interest Rates at. 7 , quite extraordinary. Dagen overnight they fell below that. 0. 695 overnight. So this is off the lows, we are at record low yields and here is the problem, this really sticks it to savers. This excuse me my language, this screws people who are trying to avoid risk. What is going on in the credit markets broadly is a deep concern where you have billions of dollars pouring out of u. S. Corporate bond funds and loan funds. Corporate credit spreads yesterday really broke down with investment corporate and high yield really plowing out meaning that the spread between a safe treasury and a company or a Leverage Company has to pay to borrow. There needs to be liquidity. No more rate cuts but the feds Balance Sheet according to many people in the credit markets needs to start growing again. You have Mortgage Rates hit record low but if the banks arent willing to make the loans, the low rates are irrelevant. Maria Robert Kaplin said they started buying securities actually in the last couple of months and he did say that was the next bigger move as well to continue that. Dagen they need to do that but that was in reaction to the problems that we had in shortterm lending market where is the rate blow out overnight to provide liquidity but a great deal more is needed according to a lot of people who i follow and i think kaplin had kaplin signaled that the virus spread may be key to another rate cut but people in the bond market are saying we need more than a rate cut. Maria we probably need more than a rate cut, steve, what are the tools, ben bernanke came with lots of innovative ways to create stimulus. Deflation could be more brutal for an economy than inflation can, of course, thats why youre seeing these bond yield fall by so dramatically. A couple of things, by the way, the federal government should start bonds and lock Interest Rates forever because we will never see them again. Yes, the fed has to get its all about dollar liquidity at this point, maria, you have to shove dollar liquidity into the economy to get these these rates up and to get the fear of deflation out. The second point to make about this is when you look at whats really frustrating to me is you were mentioning Small Business index. The economy was sailing along. It was picking up momentum and bam, the tinny microscopic virus and i do think your colleague jenkins had it right, the fear has so how many deaths . 11. Maria the truth is that my sources are telling me we will see hundreds within the last years. The majority of people will not have severe symptoms and will not too sick and certainly wont die. Yes, many more cases but its not a death sentence. Rand paul had a really good point on fox doctor. Hes a doctor, you know, weve overestimated the death rate from the virus because we dont know how many people contracted it. Dagen you could have heard it from Maria Bartiromo earlier in the week. We talked about it on this show. One of our guests said the death rate will ultimately not 0. 1 which is the leg. Maria we didnt have the testing. We have to get to 2020. Elizabeth warren has dropped her bid for nomination making it essentially 2man fight between joe biden and Bernie Sanders. Warren spoke outside of her. Watch this. I will not be running for president in 2020 but i guaranty u will stay in the fight. One of the hardest things is all those little girls who are going to have to wait 4 more years. Maria she went onto say that she would not endorse a candidate right this minute. All the little girls, dagen. Dagen she called out sexism in politics and it was a heartfelt message. Quite frankly the party of identity politics, you lay it all on, equal important for everybody, two old dudes running for the nomination. I think that this is my opinion. Maria all the little girls. I have to stop. When was all of the little girls even an measure. This is like something totally new to me. All the little girls. Dagen her voters are Hillary Clinton voters, they are educated women, working women. Thats her voting block and thats why bernie and biden over her endorsement. I want to add this, that she i think she was caught up in her own, the rallies, people were still coming to the rallies and she never really changed her strategy all along even though shes not winning a primary and coming third in massachusetts. She came in fourth in her home state of oklahoma. Fourth behind mike bloomberg. Her problem the little girls cant vote. The serious question and big question, maria, do the warren voters go to Bernie Sanders . Its his only chance. Maria thats questionable if the warren voters go there. Jobs day in america, standing by for februarys job report. Housing market, we are looking at plummeting Mortgage Rates as treasury yields fall to record lows this morning, incredible move in rights, what does that mean for the future . 2020 mars rover getting name from unexpected source. Theres real destruction in tennessee, take a look at the pictures. President trump heads to nashville to tour the damage left behind by a series of deadly tornadoes. General jack keane joins me reacting to the situation that he has granted the countrys civilian honor by President Trump. Big congratulations to general jack keane who will be here. Plus this, bad dog, Elizabeth Warrens bailey eating his feelings and its making a buzz this morning. He took somebodys burrito. Wait till you see this. whistling whistling yes im stuck in the middle with you, no one likes to feel stuck, 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 welcome back, coronavirus sending shock waves throughout markets and volatility soaring over the past few weeks as you know just from this week alone up 1,000, down 1,000, futures pointing to another day of sharp losses, take a look. The nasdaq is down 249, the s p is down 80 points. This is one of the reasons is because Interest Rates yields are dropping like a rock take a look at 10year, thats down 16 basis points right now. Joining us right now federated senior equity strategist linda who thinks we may not have bottomed out just yet, linda, thanks very much for being here. Well, good morning. Maria when you say we havent bottomed out, are you talking about stocks or rates . Probably both. The bond market as you noted is at record lows now in terms of yield although around the globe 13, 14 trilliondollars of negative yielding sovereign debt, a lot more maybe the 10year bond get close to 0 and thats a reflection of the bond market saying theres a recession on the way. Maria what do you want to do in that environment, then jordanians the bond market is saying a recession on the way. We are seeing massive volatility on the bond market. Expectations that we will not have much Earnings Growth if at all in 2020, how do you invest in the scenario in. Well, do i think that even though expectations are all over the map and you really wont have a god sense until the second half of the year, looks like a throwaway year perhaps. It isnt the end of the world, makes me think why dont we hang in the u. S. For a while in terms of investments but then when we look at the stock market we are down say 10 or a bit more, 12 , now thats a variety correction. We may very well get to the next line, 27 pullback, thats a definition of bear market. Global market will go into a potentially recession, a mild one. A vshaped recovery from a much greater level. If i may beyond the fact that we should stay in the u. S. Where investment is a little gold and problem of yield, i think that your other cohost said that this is a problem for savers, takes us to highquality dividend strategy. That should really shine and pay for investors now. Great places to stay where we are right now. We were just talking about this issue about what the fed has to do in response to these falling rates and dagen and i were both agreeing that the fed has to pour liquidity maybe cutting interest on reserves and another qe, do you think that would stop, it appears that deflation is everywhere on the economy, do you think the fed should take action immediately . They did take action, the 50basis points, big events. 50basis points is common then. What they need banks to chime in with them, that might give more confidence. But what will give us confidence and two things are important to remember as we start to worry here is we see the second largest economy in the world, china, the epicenter of all this, more evidence that things are improving over there. They are getting back to work, number 1. Number 2, in the United States importantly you have never seen so much cash flow, Free Cash Flow on both consumer and businessman sheet. The consumer is Strong Enough to withstand that. I think that people think about wall street need to consider main street. Maria which is why so many on this program have been saying, hold on because when we come out of this theres so much stimulus and growth to talk about. Things will be a lot better. Maria linda, thank you, we will be right back, stay with us. Nk youre welcome. Were gonna need a bigger room. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] maria welcome back, we are looking at markets, we are seeing at another deterioration. Coronavirus worries continue to go send markets on a wild ride all week. The Federal Reserve has instituted a 50basis point cut. Futures Market Pricing in at least a quarter point cut again in the upcoming meeting on march 17 and 18. This is 60 chance according to market that is we will see another cut in rates. 10year yield is also falling below 8 tenths of a percent. First time we have seen numbers like this. 15 basis points lower on the 10year, all of this gives more options to people shopping for homes and mortgages, thats for sure. Theres a positive here with rates at the rockbottom levels and we saw refinancing activity show that earlier in the week, dagen. Dagen 7year high. Lack of liquidity among banks and rates are irrelevant if banks arent willing to write those mortgages. One issue here is still the Federal Reserve will cut Interest Rates 1 percentage point to 1 . Overnight lend asking still higher than 10year yield. That makes it impossible for broadly speaking banks to make mortgages and loans. Maria im not all doom and gloom, by the way. There are some positives. When you see the low, you saw refinancing activity. Thats good to be a positive. Incredible stimulus. We will get through the coronavirus, everybody. Yes. Maria yes, we will see a lot more cases and yes, uncertainty and maybe a tough year for earnings, on the other side what does it look like. Good economic news. I would say so far not a situation where you need Emergency Action on either the fiscal or the monetary side. Stocks are appropriately signaling concern, but we did have a lot of good news coming into this. The refinancing is up. Construction is going higher. We could have even more construction if construction firms can find the workers they need, weve got good news in last jobs report saying people are coming back into the workforce. Lets hope at 8 30 today we hear about still more people coming off the sidelines with this economy. Theres a lot of good economy news and theres concern. Appropriate concern. Maria are markets indicating a recession is on the way, steve, real quick. I disagree a little bit with james. I do think you need monetary infusion of dollar liquidity immediately, immediately. I would say this that if you look at the past viruses the pattern crash on the market as soon as the virus was contained the market went right back. Maria we will take a quick break. Dagen sars didnt maria serious destruction in tennessee, steve moore, we will be taking a look at the president tours the damage left behind of series of tornadoes maria welcome back. Good friday morning. It is jobs friday march sixth, top stories 6 30 a. M. On the button ahead of jobs report this morning we have a market thats selling off once again. We are expecting a tripledigit decline at start of trading with dow jones down 600 points, nasdaq down 250. S p 500 down 78. Dow, nasdaq and s p up 2 to 3 for the week, of course, before todays selloff this morning. Losses of 3 yesterday, the dow would need to decline 712 points today to completely erase the gains on the week. As you can see, yesterday was another tough session, a lot of worry about the impact of the coronavirus on the economy and on earnings. Treasury yields are dropping like a rock, slide to go fresh record lows this morning. The expectation is that when you see yields this low that it perhaps is pointing to a recession at some point in the future. 10year treasury below 7 tenths of a percent overnight. Now sitting at. 76 , perhaps this triggers refinancing activity and that would be a positive certainly. The yield in the 30year treasury also lower dipping below 1. 35 at 1. 357 down. European indices are selling off as number of coronavirus cases to grow. The cac quarante in paris down 194 points and the dax index in germany lower by 426. In asia overnight red across the board as well following selloff on wall street. Worst performer as you can see was japan. President trump is traveling to tennessee today, Cheryl Casone with those details now. Cheryl. Cheryl that is right, maria, good morning to you. The expect expect today survey the damage caused by multiple tornadoes that happened earlier this week, just a few hours ago the president approved tennessee disaster declaration and ordered federal aid to help Recovery Efforts there. Singer taylor swift announced that shes donating a Million Dollars to relief efforts in middle tennessee. At least 25 people have died and dozens of structures were destroyed by those storms. Well, the socalled dooms day mom is going the make appearance in idaho court today. Lori vallow in connection with her childrens disappearances. The fbi is asking for the publics help. These are her kids. The search for the name was nationwide contest. It was submitted by seventh grader from virginia. He chose the name bus the rover will pave the way for human presence. Thats going to be from Cape Canaveral in florida. The name perseverance will be there. Satellite images from around the world taken before and after the outbreak normally welltrafficked areas. Maria, they are nearly empty and the satellite images are showing that the solution especially what we see in china has really disappeared. So its really fascinating the changes we are seeing. Maria it really is, cheryl, thank you. I want to turn to highest civilian honor. The president will be awarding president ial medal of freedom to my next guest and real guest of this program general jack keane. He tweeted this, retired fourstar general jack keane will receive president ial medal of freedom next week. Joining me right now fox news senior strategic analyst retiredfour star general jack keane himself. General, great to see you, warm congratulations could not be more deserved for you, congratulations, general. Thank you so much, maria, appreciate that. Maria this is amazing, we will watch the ceremony when youre awarded the incredible honor in the coming week but let me ask you what this means to you. Well, to be frank about it when the president called several months ago, you know, i wasnt just surprised, i was shocked and, you know, really somewhat overwhelmed by it. I frankly had some reservations whether i deserved it to be honest. He said, you know, somebody told me that you would say that. Maria so typical of you, general. I dont think a normal person regardless of the kind of life that you lead ever aspires Something Like that and i think thats why it was so shocking to me and immediately recognize that my you could never get an award like that and with my family, with my wife who passed away after 51 years of marriage with my new wife and i got married on december the eighth. I had 16 years of Catholic Education which gave me a Strong Foundation for everything that i did the rest of my life and then i lock among heros and the army for almost 38 years. Maria you sure did. Extraordinary to be with them and they inspired me throughout my entire career and they continue to inspire me to this day. Maria its why we look to you for so many subjects given your incredible experience in the army and beyond. I want to ask about peace in the middle east, downtown hall on fox news last night President Trump spoke about the peace deal of the taliban and attacks taking place since it was reached. Watch this, i have to get your reaction, general. These are warriors, we have been there for 20 years, we are serving more like a Law Enforcement group than military group. I believe they really want to make a deal. I think after 19 actually going to 20 years, they are tired of fighting. They with warriors and they are fighters and thats what they have done for a thousand years. Maria people were scratching their heads about the peace deal and then the strikes against the taliban just a couple of days later, general. The United States made a deal with the taliban exclusive from the Afghan Government that the Afghan Government would release 5,000 taliban prisoners at the beginning of negotiations. Normally, maria, so audience understands, normally prisoners are exchanged at the end of hostilities when theres a Peace Agreement or surrender and in this case would be a Peace Agreement. The fact that president gani, the head of Afghan Government is taking exception to releasing 5,000 prisoners before negotiations begin when theres no grantee theres going to be a peace settlement, the odds are against it. Why would i turn over 5,000 of the most soughtafter people by the taliban. Hes taking an exception for that. The taliban said, launch 43 attacks because of that. Putting pressure in irani government to release prisoners. They should back off and let negotiations take place. We have a settlement then gani will release the prisoners. Maria what do you make of this decision, well, secretary of state mike pompeo slamming the decision by the International Criminal court to investigate allegations of war crimes by u. S. Armed forces in afghanistan, secretary pompeo said that the decision is reckless and that it could threaten peace negotiations with the taliban as well . Yeah, its outrageous this court. We are the oldest constitutional democracy in the world. We help form constitutional democracy in afghanistan. Theyve had four elections. None of them perfect to be sure. They operated under the best of attentions like United States does. We have no intention to kill civilians, but civilians are a byproduct of war and it does happen and then here is the important point of distinction. We are a constitutional democracy that holds people accountable for their behavior, so when we have soldiers who intentionally kill civilians, not by accident but by intently do. Unfortunately the numbers are very low. What do we do, we hold them accountable. We go to jail for it if theyre guilty of that crime. Why would icc bring the United States into court when we are holding our own people accountable for misbehavior in combat. Its outrageous. Maria yeah, well, it certainly looks like that way. General jack keane joining us there. Coming up coronavirus and weather, we are taking a look how the temperature could affect how the virus spreads and we are watching market this is morning, of course, futures indicating another 500point declient at the start of trading this morning after incredible by volatile week. Dow industrials down 552 points right now and coming up, dont forget to set your clocks forward this weekend, we are going today light savings time, spring forward, back in a minute. At fidelity, online u. S. Stocks and etfs are commissionfree. And when you open a new brokerage account, 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 competition continues to talk. The business of road trips. Adventure. 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. 1 in 3 deaths is caused by cardiovascular disease. Millions of patients are treated with statinsbut up to 75 persistent cardiovascular risk still remains. Many have turned to fish oil supplements. Others, fenofibrates or niacin. But heres a number you should take to heart zerothe number of fda approvals these products have, when added to statins, to reduce the risk of cardiovascular disease. Ask your doctor about an advancement in prescription therapies with proven protection. Visit truetoyourheart. Com maria disease in 87 countries. Some are saying like the flu the spry are you sure spread will slow down once the warmer weather arise. Its not yet known if temperature and impact of coronavirus. Joining us now fox news professor dr. Mark siegel. Thanks for being here. Somebody said to me the other day, look, maria, thats not true because singapore is basically on the equator and they are still getting cases, what do you think in terms of the weather . Im one that role will play a role. Most respiratory diseases, as warmer months to come and if its humid the droplet drops to the ground and doesnt spread as far and in the winter people congregate together and thats the theory on the flu. Other coronavirus tend to follow that pattern as well. One of the mers didnt and that came from camels. Chances it was by the equator to begin with. Most coronavirus will follow the pattern, some people say thats why its starting to diminish. In wuhan its 55degrees and somewhat human. Theres an argument that this is largely going to be a threat to the age 70 and over population in terms of a grave threat which obviously we would be reassuring to people who are younger. Is there reason to think thats true . So far yes, thats not 100 across board, james, usually people who have chronic conditions are more at risk especially lung conditions. The complications we are worried about in coronavirus is an pneumonia, if you have problems with your lungs already, youre more at risk of a complication from that pneumonia. Generally people who are older or have chronic conditions. The flu by the way causes surge of the immune system that can put young people in trouble. Doctor, ive had four conferences that have been canceled in the last few days. Maria i have too. I was watching espn last night, all College Basketball games being canceled. Are we going to become hermits. By the way, this is a business show that would cause gridlock in the economy if that happened. What is your advice, is it okay to go to Public Events or you advise people not to . I think Public Events are fine given the numbers, how low provided event doesnt include someone with a known case. Maria you can contract it with no symptoms. The purpose of this, maria, is public health. In other words, we are trying to squash the virus before it spreads. It isnt that its a personal danger to you if you go to the conference. The public misperceives that. Public health tool to control spread so it doesnt come back year after year. Maria people listen. People are washing hands. They are listening to what the authorities are saying. I want to ask you about jamie dimon because the chairman and roe of Jpmorgan Chase had emergency heart surgery yesterday. We are told he is recuperating well to repair aortic dissection, how serious, tell us about that. It is serious, has to do with the artery of the heart, it goes to the brain and upper part of the body. Hes 63 years old. Former smoker which puts him at some risk. I dont know if he has high Blood Pressure or cholesterol. Maria remember he had throat cancer a couple of years ago. I dont know how that was treated exactly. Clearly he got chemotherapy. If he got radiation, it might have weaken the aorta. Hes got about 20 risk of something terrible happening to him, 80 he will do fine. If he makes it into the clear over the next month theres an 85 chance he will live 5 years and in my opinion given who he is and how vital he is, theres a pretty good chance he can return to work. He recovers and makes over the next several months, over 50 he gets back to work. Maria we obviously wish him very well. Two copresident s are running bank in his absence. Great to talk with you this morning. When we come back we are checking tout checking out the housing markets and then this bad dog, Elizabeth Warrens dog bailey, eating his feelings after she drops out of the race and thats making a big buzz this morning. Wait till you see this. Some people say dress your age. 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 welcome back, time for morning buzz, first up he said what, former president bill clinton opening about extra marital affair with monica lewinsky. He also regrets how her life turned out because of the bad press. There you go, james. Yeah, this is in the category of husbands dont try this at home. [laughter] honey, i had an affair. I was managing anxiety. I dont see that going well in many households. Maria unbelievable that we are still talking about that. Next up hit 90s show clueless hitting anniversary with popup coffee as if, fans can enjoy snacks along side interior that brings the movie and the decade to life, doors open next month in los angeles. Dagen i love this movie. I can watch it over and over again. The costume in it is phenomenal. My favorite personal is shes a full on monet, a painting from far away its okay, up close its a bigole mess. Maria i like as if. I always use as if. Yeah, as if. Finally this, bad dog. Elizabeth warrens dog bailey going viral after satisfying rumbling tummy wandering around warren headquarters she snatched somebodys burrito off the table and prompting staffers to try to pry it out of his jaws. Not happening. The internet went wild. Bailey should eat all the burritos that he wants. I agree. Thats not just a problem in the moore household that our dog is eating food off the tables. What acute dog. She should have had him, bailey go everywhere her on the campaign trail. Maria i didnt know she had bailey. I will give Elizabeth Warren a second look. Dagen he was in a lot of instagram videos and he was at the press conference yesterday when she announced she was dropping out but you have to give the dog the treasure when they find it. Charlie wants i saw his head buried in a bush and pulled up and he had more than half a pizza pie in his mouth. He just stood there and i was like you have no control over that. Im taking it. Maria if you try to take it out of their mouth they will bite you. Dagen yes. Maria once its in the mouth leave it in the mouth. [laughter] maria quick break, its jobs day, we are look ago head what happens later in the year. All hands on deck for Team Coverage of the february jobs report beginning at 8 00 a. M. Eastern as we look at february and the rest of the year. If youre having baby fever consider the cost, how much it cost to have a baby next hour on mornings with maria, stay with us. 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. Maria good friday morning everybody. Thanks so much for joining us. Im Maria Bartiromo. It is jobs friday. Your top stories right now, just before 7 00 a. M. On the east coast. The february jobs report is out later this morning, economists are expecting 175,000 jobs added to the economy in the month of february, expecting the Unemployment Rate to hold steady at 3. 6 . We have full coverage of the allimportant report starting at 8 00 a. M. Eastern. We will be looking ahead to what happens later on in the year on this economy given the new threats. Futures are pointing to a lower opening this morning. The Dow Jones Industrial average do you 56 562 down 562 point. The s p futures lower by 70 points right now. Markets trying to hang onto gains in this wild week heading into today, the dow, nasdaq and s p 500 are still up between 2 and 3 this week despite losses of better than 3 yesterday. Its a tough day at the office yesterday, thats for sure. The big story for the markets this morning, Interest Rates. Treasury yields are sliding to fresh record lows this morning. Take a look at the 10 year, falling below 7 tenths of a percent overnight. This is attached to mortgages. So this is why this could be good news for anybody looking to take out a mortgage right now. The yield on the 30 year treasury also dropping below 1. 35 , now we are bouncing off of that at 1. 38 . Thats down 15 basis points for the 30 year treasury yield. As yields decline, Mortgage Rates are hitting record lows which could be opportunity for you. Well check that out. The Coronavirus Crisis latest, nearly 100,000 confirmed cases across the world. There are at least 149 cases here in the United States. Maryland the latest state hit by the virus. The democratic field meanwhile is thinning out. Elizabeth warren has dropped out of the 2020 race but not making an endorsement she says just yet. Meanwhile, this. Jp morgan chase chairman and Ceo Jamie Dimon recovering from emergency heart surgery this morning. The company says it was successful and dimon is awake and alert. The stock is down almost 4 this morning. His copresident s are running the bank today. Plus, recovery in nashville, President Trump headed to the tornado ravaged area after approving a disaster declaration. Well take you there live later coming up. Mornings with maria is live right now. We want to check Global Markets, where the carnage is certainly. Its been a wild week and we cap off the week with the way we started. European markets taking a cue from wall street and selling off as the number of coronavirus cases continues to grow. The fq100 is down 215 points, cac is lower by 195, dax in germany is down 419 points. Asian markets, similar story, red across the board following the selloff on wall street yesterday. Kospi down better than 2 . The worst performer was japan, down almost 3 . Reports that russia will not join opec in extending production cuts, sending oil to the lowest level in 14 months. Crude is 43. 78 a barrel. Some of the other stories this morning, the death toll from coronavirus in the United States rising to now 12 people dead. Overall, the number of cases across the world nearing 100,000. In the u. S. , maryland confirmed the first face the state. The governor state they contracted the virus while traveling overseas but they are in Good Condition. President trump is expected to sign the 8. 3 billion emergency funding bill today. He was expected to go to the cdc. That is no longer on the public schedule this morning. Two private schools in new york city canceling classes today after being notified a parent was exposed to the virus while traveling abroad. In a letter to the school parents, the schools said they would thoroughly clean the schools. Members of the California AirNational Guard delivered coronavirus virus test kits to the grand princess cruise ship. 3500 people are stuck onboard on the ship, waiting to be tested, after a passenger from a previous trip died from the virus. He was on that boat. Overnight, an alabama maam man executed for his role in a deadly shooting in 2004. Prosecutors said he lured officers into a drug house where another man shot and killed him. Martin luther king junior the third and Kim Kardashian west advocated for him saying he didnt get a fair trial. The Supreme Court denied the request to stop the execution. Gap taps internal talent for their ceo. The Company Announced that sonya singal will take over and serve on the board of directors. She has served as the head of the Old Navy Brand since 2016. She is replacing bob fisher, the son of the companys founders at gap. A new report sheds light on how much having that bundle of joy really costs. The average cost of having a baby with zero complications is 10,108. Around 3 million babies are born every year in the United States. Okay, leaving the campaign trail, once 2020 frontrunner Elizabeth Warren ending her president ial campaign, following another setback on super tuesday. Warren has not announced an endorsement for another candidate, despite the fact that she and sanders share similar progressive proposal. President trump reacted last night in a fox news townhall. If shes a true progressive which probably she is, she should have dropped out three days ago. Person would have won five, six, seven states, would have won minnesota, would have won at least another two or three states. So when you look at it, she did him no favors. That was not a good friendship. Maria joining us right now is usa today, Washington Bureau chief susan page and here with me is james free man, Dagen Mcdowell, Stephen Moore. Great to have this conversation. Thanks for being here. Your reaction to the latest with Elizabeth Warren stepping down. Remarkable string of people with drawing from this race, such a big field, now its a small field, effectively down to two people and down to two older white men, one of the big surprises with the democratic test contest this time around. James freeman here. The issue of where her votes go, obviously the president thinks they go to bernie. Looks like polls say its kind of a split between bernie and biden. A lot of her voteers were Hillary Clinton voters, not sanders voters in 2016. Is this kind of a nonevidence echt in terms of nonevent in terms of the biden versus bernie clash. This is a case where the candidates endorsement could make a difference. Youre right, Elizabeth Warren is more in sync with Bernie Sanders, big progressives. The demographics of her voters look more like bidens, theyre older, more likely female than male, better educated. Thats not the profile of the Bernie Sanders voters. I think her vote is likely to divide between the two. She could be a force. Steve moore here. I have a premise that its the beginning of the end for Bernie Sanders, maybe its not the end. But the statement in that 60 minutes interview when he talked about cuba and castro, looked like it was downhill from there when he defended this kind of tyrant in cuba. Do you agree with that . Number two, how big was just the fear of democratic voters that bernie could not win . I think those two points are related. I think the fact that Bernie Sanders not only said positive things about the castro regime, refused to back off from the position he took, say, in the 1960s. I think that was a reminder to some democrats that he could be very tough candidate to win the election. That was really costing him the state of florida right there, that important swing state. And that he might also cost i think that was an important moment of making establishment democrats really decide they better unite behind somebody and the candidate they united behind to the surprise of many turned out to be joe biden. Dagen its Dagen Mcdowell. Michigan make or break for these candidates. If joe biden runs away with it, is it done . Michigan is the best state on tuesday for Bernie Sanders. Hes devoting his resources there. He won it last time in an upset over Hillary Clinton. If he loses to joe biden, it seems like joe bidens lead in Convention Delegates starts to become difficult to overcome and democrats being ready to move on in the race against President Trump. Maria he called off the mississippi rally so he could focus more attention on michigan for that very reason. Good to see you, thank you. We have a sharp selloff underway, take a look. We have the february jobs report out at 8 30 a. M. Eastern. Thats looking backwards. The estimates call for 175,000 jobs added to the economy in the month of february with the Unemployment RateHolding Steady at 3. 6 . Look at this market, steve moore, and youve got a Market Selling off and volatility, huge all week because investors are worried about what happens next, whether were going to see a sharp slowdown in the economy and zero Earnings Growth in 2020. I agree with what you said earlier on the show, the whole story right now on the economy is the falling Interest Rates and i do think the fed needs to take action. Ive been saying this for weeks and now more so than ever. Theres deflation in the economy, deflation. When you have Interest Rates that low, people are worried about prices falling. By the way, thats been the problem for years in europe with negative Interest Rates. So i think the fed those be very proactive here and immediately. Theyve got to get in front of this. Maria which is why the president has to be careful about saying keep cut, europe has negative rates, we dont want to go to negative rates certainly. Look at what were talking about. Dagen. Jeffrey dunlap, they call him the bond king, said to expect a 50 basis point cut. 50 in two weeks from the Federal Reserve on march 18. Dagen he said what the fed did earlier this week was panicky. Maria yeah, he did. Dagen indeed it did. The previous low until this recent flight to treasuries and the selloff in other riskier assets, the previous low wasnt during the financial crisis. It was actually after brexit in july of 2016. The previous low was 1. 375 , so almost 1. 38 . We were down below 0. 6 this morning in terms of the flight and steve, in terms of fiscal policy, this is why you dont blow out the budget and run up budget deficits when times are good because, again, what gets worse, your budget deficit, when the economy slows down and it doesnt leave you that much powder. Fiscal policy, this idea that Government Spending stimulates the economy is completely wrong. There was a piece in the wall street journal today saying we should need a 300 billion spending plan. No, we tried that as the wall street journal editorial page said the other day, james, with he tried that under bush in 2008, we tried it under clinton obviously i mean obama in 2009, that didnt work. What im saying is the fed has to infuse money into the economy either by cutting the interest on reserves or just do another qe, a big one. Maria the administration will come back at you and say, look, if you want to borrow, you want to borrow when rates are at these levels. Weve got 22 trillion in debt you want to borrow when you have rock bottom rates so interest doesnt keep going up. Dagen you want to borrow when the country and economy needs it. You cut taxes, let the economy grow. Why are we running 1 trilliondollar deficit. Why is the debt 23 trillion. It was nice to hear the president saying last night he does want to refinance just like threst of us and take advantagef the low rates. This is a pretty good economy. Deflation, were not seeing deflation, were seeing mild inflation. But deflation is not the end of the world. This country grew pretty quickly the second half of 19th century with a pretty serious deflation. That doesnt equal economic doom if that does come to pass which its not at this point. Maria jobs in america, the february jobs report is out in about an hour n well have all the numbers and well look ahead to what the rest of 2020 looks like. Plus, were looking at the housing market, we are looking at falling Mortgage Rates, what you need to know before buying a home. Now would be the time to borrow with these rates on the 10 year. Im answering your questions, its ask maria town. Ill give you the answer on how i choose my outfits and what are some of my favorite pieces of jewelry. The economic effect of coronavirus on china, we take look at the worlds second largest economy, what it means for the u. S. Then this, vodka is for drinking, not for hand sanitizing. The warning American Liquor company tit os is giving to customers. Back in a moment. I cant get you off my mind. Cant get you off my mind. Cant get you off my mind. Maria china has been hit hard by coronavirus, a new roy officers poll of economists expect that chinas gdp growth will be 3. 5 in the First Quarter, thats down from 6 in the Fourth Quarter last year. This coming after chinas Services Purchasing Managers index plunge todd a record low last night. Joining us right now is former north korean human rights deputy special envoy, christian whiten. Thank you for being here. Good morning, maria. Maria were looking at the numbers, steve moore made the comment, im not buying 3. 5 . Do you think we can believe what china tells us in terms of how severely its economy has been hit by all of this . Yeah, absolutely not. Steves absolutely right to be skeptical. These numbers are lower than anything registered, 35. 7 for pmi manufacturing, that is lower than any reading in the Great Recession here and actually if you look at nonmanufacturing pmi, its just under 30. This is stunning. Those are sort of official numbers. If you look at anecdotes like Energy Consumption or pollution thats coming out of china or in this case not coming out of china, the economy there is really shut down. Theres some signs of some restarting. This is an economy thats not only not growing at 3. 5 but that is in very steep recession and that comes with political consequences. Maria but steve moore, theres a real implication to this. China as christian says is shut down. Thats a much bigger portion of the Global Economy than ever in the past. So what does that mean for us and what would you say chinas economy looks like today, is it in contraction. Everything were hearing theyre down by 10 to 15 . Maria 10 to 15 . In production. Thats the last couple weeks. I dont believe the number. If question i wouldthe question i would ask you, once we get out of this shal i talked to so mans saying we have to rethink chinas role in the whole supply chain and china may be not the kind of safe and reliable part of the block chain that we thought they were. What do you think . Yeah, thats fundamentally true. Once companies sort of take the time and effort to diversify their supply chain out of china and of course a huge beneficiary before coronavirus was vietnam, just sort of with the rising costs in china and political turmoil, American Companies are probably not going to go back, not in the numbers. The deal with the ccp, the communist government of china, was that they would deliver unending Economic Growth and they have for two decades. When that gets interrupted, theres a potential for real political turbulence on the mainland. Maria i want to ask you about this Disinformation Campaign that china is now doing, theyre fueling conspiracies that the u. S. Is to blame for the coronavirus outbreak. The Washington Post uncovering theories circulating on the chinese internet including those accusing the u. S. Of covering up coronavirus deaths by classifying them as normal flu deaths, christian. I want to start calling this the wuhan flu because we know exactly where or the wuhan virus because we know exactly where this started. You go on waybo or tiktok or chinese sites and theyre trying to say the u. S. Started it ever since people started talking about the level four future lab in china exists in wuhan, china starts trying to change the conversation. Right. Well, chinas put politics first throughout this crisis. It was very slow in reviewing. I dont think we actually have the timeline absolutely correct on when this started to occur and when it was revealed to the recalled would. They were upset with President Trump when he moved decisively to stop flights from china, stop chinese nationals from coming into the u. S. They accused him of racism. They repeated that. Now you have conspiracy theories out there. It doesnt give you the warm, fuzzy feeling that the Chinese Government has decided to come clean an be honest about all of this and to be transparent about how this is going inside china. Maria lets face it, they didnt tell us about it until after they sent a huge delegation to davos, huge delegation to the white house, shaking everybodys hands, james. As aggressive as that propaganda is within china, im wondering youre talking about political impact. There are plenty of chinese who figured out they were lied to by their government. Does this change the political pressure on xi . Hes technically in there for life but thats subject to change if the people youre going to see turbulence in hong kong. You might see it on the mainland, especially come summertime when things loosen up on the health front, i think youll see Major Political tush turbulence. M a thank yomaria thank thank. Well be right back. [ fastpaced drumming ] [ 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 welcome back. President trump approving a disaster declaration in tennessee after this weeks deadly tornadoes. Grady tremble is in tennessee this morning where President Trump will be visiting today. Reporter we dont know exactly where the president will be going when he arrives in nashville. Hell likely see keeps like this all over scenes like this. This is Donaldson Christian academy in one of the hardest hit areas of nashville. This was an elementary school. It was the middle of night when the storm struck so there were no kids at the school at the time. The head master told us at any given time during the day there would have been 1,000 people here and you can see just how bad the damage is in the surrounding neighborhood as well. The school held a meeting yesterday and a Prayer Service to reflect on whats next. The plans for the rest of the year are still to be determined. But they also just wanted to pray and express their gratitude for the fact that everything worked out okay in terms of this school right here. They also are expecting the president today, and so we talked to parents as well as the head master of the school about what they hope the president sees when hes here. Im sure hes gotten sees back, not just our school but the whole state has suffered. Im glad hes coming. Really for him to see the devastation and send resources we need to help get back to where we were before this happened. I see him coming to nashville as quakily as he has, good for him to pot spotlight on put a spotlight on the damage thats been done and i hope it puts a spotlight on the resiliency of the community. Reporter this will bring much needed money to areas like this. Nashville is filled with superstars like big and rich who have raised a lot of money as well as taylor swift who personally donated 1 million to the Tornado Relief to help people get back on their feet in this area. Of course, as the president gets here and the different areas that he tours, well let you know where that is and everything you need to know on his visit. Maria. Maria grady, thank you. Coming up, the Global Response to the coronavirus, imf managing director kritinalia joins me next to talk about funding the battle of this virus. For drinking only, the warning american Vodka Company titos is giving its customers, thats next. Im my own worst enemy. Its bad when you annoy yourself. So irritating. Dont want to be my friend no more. I want to be somebody else. 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. This is the completely reimagined, street smart when i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is jobs friday today, march 6th. Your top stories right now, 7 3. Futures indicating a decline of 640 points on the dow industrials. Nasdaq right now down 254 and the s p futures lower by 80 points, a decline of two andahalf percent across the board. Markets are trying to hang onto gains for the wild week that weve had. The dow, nasdaq and s p 500 are still up 2 for the week despite the losses of over 3 yesterday. Tough day yesterday as treasury yields continued to plummet. Take a look at yields this morning, sliding to fresh record lows. This is a top story of the markets right here, the 10 year treasury falling below seventenths of a percent overnight. Jeffrey gunlack called the bond king expecting the yields to go to zero he said yesterday. The yield on the 30 year treasury dipping below 1. 35 geyse1. 35 overnight. Global markets this morning look a lot like futures. Take a look at the selling in europe right now as the number of coronavirus cases continues to grow, the wuhan virus is having an impact, down 211 points on the fq100 right now, the cac in paris down 125 points. Red across the board in asia, selloff on wall street really the trigger. The worst performer was japan, nikkei average down 2. 7 . Facebook is removing some Trump Campaign ads. Cheryl casone with details on why. Cheryl, good morning. Cheryl good morning, maria. These ads are being removed after House Speaker nancy pelosi and other democratic Lawmakers Said that people may confuse the campaigns use of the word census for the actual government census. In a statement, facebook said the ads were removed for violating the companys census interference policy. Well, boeings new ceo ripped on its predecessor, David Calhoon openly criticized Dennis Muilenburg in an interview, saying the task of turning the company around was more than he imagined and speaks to a weakness in prior leadership. Calhoon said he worked to revamp the image and internal culture and rebuild relationships with airlines. The stock, its down more than 20 so far this year and its a stock to watch today. Well, the former leader of the United Auto Workers has been charged with corruption. Prosecutors claim gary jones plotted with others to e embezze more than 1 million. Wase one of several leaders under government investigation. He resigned from the uaw last november. Finally, it apparently needs to be clarified that there is alcohol for drinking and there is alcohol in Hand Sanitizer but theyre not the same thing. People have been making Hand Sanitizer with titos vodka. So the company came out to say, yeah, you dont do that. Heres what they wrote on twitter. Per the cdc Hand Sanitizer needs to contain at least 60 alcohol. Our vodka has 40 . There you go. Cheers to everybody. Enjoy your titos tonight. Maria its funny that the company had to come out and say that, actually. Cheryl i know. Maria thank you, cheryl. Fighting coronavirus, the International Monetary fund is announcing 50 billion aid package to support poor and middle Income Countries hit by the virus as more cases are recorded worldwide. The aid would help provide resources and infrastructure where these countries would otherwise strain their weak healthcare systems. Joining me right now is International MonetaryFund Managing director, kristalina georgieva, and its great to see you this morning. Thanks very much for joining me. Thank you for having me, maria. Maria tell me about this aid and what youre hoping it achieves. Well, as you have shown in the pictures of u. S. Yield going down, what it indicates, there is a flight to safety and that means that emerging markets especially poor countries, the developing world, would find themselves in a tough position so what we are targeting to do is provide a financial boost to these countries for three reasons. One, so they have the fiscal space to build Stronger Health systems and protect their populations. Two, they have the capacity to provide funding for their businesses that are most severely impacted. And three, to be able to withstand if there is further flight of capital to protect their economies for the benefit of the Global Economy as well as for themselves. Maria this has been a crisis where all hands are on deck. The imf is needed as are so many others to come to the rescue here. When you look at rates, where they are right now, what does it tell you . Do you think this is indicating a recession . I know youre expecting Global Growth this year and youre expecting it will slow down, declining below the 2. 9 rate last year as this spreads and impacts economies across the world, particularly china, but what kind of growth level would you expect for the Global Economy . It is somewhat early to say, because we are in a situation in which we dont yet know how long this virus is going to be prevalent in the world and that creates uncertainty. We are collecting bottomup data from countries to be able to come up with a more accurate assessment. Let me stress this. How far the slowdown would be, how deep it may be depends on two things. It depends on the academic, but it also depends on the strength of our actions and i would encourage all of us to lean forward in this situation. We have seen congress in the United States approving 8 billion support package. We have seen action taken by chairman powell. I must say both secretary mnuchin and chairman powell have been very active also in our governing body, urging for that kind of strong action, and then welltargeted measures, Health Systems first, businesses heser especially small and medium size businesses, they should not collapse because of lack of credit so we have to make sure liquidity is there. And corporate share experiences, so we can accelerate the effectiveness of these actions and this is what we do at the imf. Maria of course. Of course. Let me ask you your take on china right now. Theres a lot of debate on what the economy is doing there given the fact that theres pretty much a halt to activity, right, halted, you know, no flights in and out of businesses closing down. Is it fair to say that the chinese economy is not seeing any growth at this point . How would you characterize growth there specifically . For sure First Quarter and Second Quarter in china would not look good. Whether we would see a recovery afterwards is depending on what we have seen in china, actually a dramatic decline of new cases, whether this would be sustained as factories reopen, actually the governor of peoples bank of china tells us that they are seeing overall in the economy up to 60 return to operations in the industrial sector. Would that be sustained, or there would be another wave of cases as the virus spreads globally. This is what we watch very carefully. And of course, the more we act everywhere to contain this epidemic, the better it would be for all of us. Maria for sure. And we want to point out that peru is now confirming its first case of coronavirus. Its on the screen right now. In terms of china and its impact on the world, if youre seeing negative showings in the First Quarter and Second Quarter, thats certainly going to show up in the broader global expectation for growth, right. It will. Of course, it is already factored in, how we see growth this year. When we say it would be below 2019 level, china is a big part of it. China has grown to be nearly onefifth of the World Economy and of course what happens in china doesnt stay just in china. This is why i want to stress again, our action to support especially more vulnerable, poor countries, aims to create globally a better environment to cushion what is a very unusual sudden shock both on the supply and on the demand side. Maria exactly right. Theres a supply shock but also a demand shock because people are afraid, theyre shutting down, theyre staying at home. I want to say, this sunday is International Womens day. Its great to see you running the imf. You rose through the ranks at the world bank. Youre another leading major woman running things along with the head of the ecb, the head of the eu. Youre seeing more women in powerful positions at this point . Well, yes, indeed. And since i came into my position at the fund, maria, i can tell you that in four months the share of women in senior positions at the firm has gone up by 4 . Maria i love it. I aim for parity. Its great to talk with another strong woman like you as we approach the International Womens day. Maria thank you so much. I so appreciate that. Good to see you this morning. Thank you very much. Kristalina georgieva, its good to see you. Thank you. We will talk with you soon. Thank you. Coming up, a great time to buy, treasury yields are falling, bringing Mortgage Rates down with them. My finest fashion choices, its ask maria time. You want to know how i choose my wardrobe. Ive got the answers, you head, some of my most viral moments. Stay with us. Maria next week on mornings with maria, monday, losing sleep over coronavirus, dr. Oz on why regular rest will keep your heart healthy. Tuesday, six more states head to the polls with biden looking to build on his joe mentum. Wednesday, best selling author damon john joins the conversation. Thursday, build a bear reveals a hot new product. Fry, its time to ask maria, ill answer questions that matter most to you, our viewers, its all right here on mornings with maria. And when you open a new brokerage account, 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 maria Mortgage Rates hitting record lows, the average 30 year fixed Rate Mortgage at 3. 29 . The decline comes as many fear the spread of the coronavirus could weigh on the u. S. Economy and that is why youve got the 10 year today below 7 10 of a percent. Joining us right new is rogers heely. Good to see you this morning. Thank you for being here. Weve been talking about the 10 year plummeting like a rock, the 30 year plummeting like a rock. Connect the dots here for peoples mortgages. Its time toe make a move, time to make a move either way. Weve seen the last two weeks have been the busiest two weeks weve seen in probably my entire career. Youve got to make a move. The only problem were seeing is a lack of inventory. So the rates have continued to decrease. Its going to increase the refinance boom as well. We still have a problem with inventory. I think thats going to become a really big issue. Is that inventory problem, is this a regulatory issue . We talk about how in california its so difficult to build new housing developments. Texas i would think a little more businessfriendly. What is the issue with inventory . Where does it come from . Its all over the place. Californias obviously a different animal than texas. Even in dallas where im based, were 55,000 homes short as of today. Thats not considering the stuff thats going to happen with the slow dob idown in china. Were not talk about the fact that they have factories that are producing stuff we need to build houses. Its going to be an interesting dynamic. Rental rates are starting to decline. Who knows which way its going to go. California, theres all sorts of regulations we dont have to deal with here in texas, thank god but its going to be affected no matter where you are. Weve been looking at buying a house in florida. And weve been looking for the last year or two and its been a total sellers market because theres so much demand. I wonder if whats happening with the economy now, youre saying youre not seeing a slowdown in demand even given whats happened in the last month or so . Heres what i think is going to happen. I think that people who have been thinking about potentially purchasing a new home, second home, et cetera, theyre probably going to look at refinancing. Im refinancing everything i have as of yesterday because it just makes more sense. So instead of having to go and take equity out and purchase something new and put a new down payment on something you might not love, the thought of going and taking equity out of a home you might have more than 50 of loan to value in makes more sense. So i think there is going to be a little bit of slowdown in certain pockets of the country where people would rather stay home, refinance, have a better rate and have more cash. Maria so theres a Silver Lining to the rates. Mortgage rates closely linked to the yelled on the 10 year treasury. The numbers today, down 17 basis points on the 10 year. Do you think at some point we see a refinancing boom . We reported yesterday that the refinancings were at a sevenyear high, the last reading. I think were in the middle of a boom right now. I think its crazy. I think whats going to play to buyers and refinancers even more so, its going to take longer to get the refinance done. Theres already a backup. The minute you get locked into a rate, thats the worst rate youre going to have. Who knows how much lower it can go. Maria good to see you this morning. Thank you. Coming up, fashion icon, some of my looks have garnered a lot of attention over the years. Inside the most viral moments next and how i choose my wardrobe, well tell you about it in the ask maria segment. Stay with us. Maria bartiromo. Maria bartiromo. Maria bartiromo tv just keeps getting better. How you watch it does too. 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. Maria okay, you asked. Im answering. Usually im the one asking the questions. The tables have turned. Every friday im answering your questions from social media. The first question, when will you write another book . A personal auto biography this time with recipes. Ive written three books before. The first book was use the news. Followed by the weekend that changed wall street and how the fallout is still impacting our world. And then my third book was the ten laws ofen during success. I am on endo you remembering success. Do you remembering enduring success. Im not sure i should throw another ball up in the air. What do you think . Love what you wear, especially your jewelry, do you pick out your wardrobe. Yes, i do. I tend to lay it out the day before. I choose clean lines and i add a little sparkle. I do love accessories, thats for shirks especially pins and earrings. The pin from the debate is my grandmothers pin. Even snl copied my pearls when they parodied the debate. That was really fun. Thats when you know you made it when snl parodies you. I was happy about that. Secondly, when did you decide to work as a tv presenter. It was after my then boss at cnn business news, lou dobbs was my boss, he promoted me to senior producer which had me in the control room working with an anchor. That wasnt what i wanted to do. I figured out i wanted to be in field. Before i was a field producer, gathering information for onair reporters. I reluctantly accepted the position. I applied for onair reporter job at cnbc. As soon as i left the building, i went to new york city and i bought two new dresses to wear on tv. I knew i had the job. Sure enough, they hired me. Soon after that i became the first person to proved liv broae from the floor of the New York Stock Exchange. I want to hear from you, send me your questions through instagram and twitter. Ill answer a new round next friday. We have this market that is under pressure this morning. It is falling. We are at the lows of the morning. I want to show you whats going on. The Dow Jones Industrial average now at the lows, down 780 points, there are worries about the economy slowing down and earnings taking a hit as a result of the coronavirus, the cases continue to rise. Weve got the february jobs report coming out in 3 of minutes time. Steve moore, Dagen Mcdowell and James Freeman are with me all morning this morning and i know its backwards looking in terms of the jobs report, looking at the february results. But we also get some indications of what people are thinking about for the rest of the year. Thats what were hearing from companies, thats whats unnerving the market. Its the latest data. Its going to include weeks and weeks of coronavirus concerns. So its not useless. Its very informative. Its also worth knowing what was the underlying economy heading into this period. It may be from here people worry less or they worry more. Its an important snapshot of where the economy is. Just quick point. Thank god we have this 6 million job cushion in the economy, because we are going to take some hits. Theres no question about it. When the march numbers come out for jobs its going to be a bet were going to get a good report today, my prediction march is not going to be very pretty. Luckily we have a surplus of jobs so i think the impact on workers wont be that bad. Dagen we are coming into this with record Free Cash Flow, record Free Cash Flow for consumers after taxes, bills, food, energy and debt service and with Interest Rates plunging, debt service is going down even more. In terms of weathering the storm, we were in a very good position to do that. Maria the february jobs report is out in 30 minutes time, well have the numbers right here, mornings with maria. Stay with us, back in two minutes time. Every now and then i fall apart. And i need you now tonight. And i need you now tonight. Knowing were prepared for tomorrow. Wow, do you think you overdid it maybe . Overdid what . Well planned, well invested, well protected. Voya. Be confident to and through retirement. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Can we go get some ice cream . Alright, we gotta stop here first. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Eric and vision loss doesnt determine my character. Heather its our drive that shows who we are. Marina and we are here to let those challenged with blinding retinal diseases know. Eric that we are driven, too. Carolyn to be a beacon of strength, a champion of courage. Heather an advocate for hope. Eric we fund. Marina we fight. Heather and henry we win. Carolyn we. Eric are the foundation. Both fighting blindness. Carolyn join the fight at fightingblindness. Org. Welcome back. Good friday morning thanks so much for joining us. I am Maria Bartiromo. Jobs friday, you march 6 top stories right now just before 8 00 a. M. On the east coast, jobs in America Today the february jobs report out in 30 minutes time, economists are expecting 175,000 jobs added to economy in in february. Unemployment rate z at 3. 6 , we have full coverage all handson deck with allimportant report, as we look in an headed to the impact coronavirus could have on economy later in the year, about markets pointing to another sharply lower opening take a look dow industrials now at lows of the morning, futures down 701 points that is two 2 3 nasdaq futures lower by 273 s p futures down 85 points cruise Lines Airlines taking a huge hit this morning as the coronavirus impacts demand take a look at numbers down across the board, at some point there will be opportunity to get back into this mooshth, markets trying to hang on to gaibz in this wild week this morning, dow, nasdaq s p 500 still up about 2 for the week going into today, despite heavy losses why i had, they major indices down 3 on average, yesterday, the big market story this morning, are Interest Rates, plummeting like a rock sliding to fresh record lows, the 10year treasury falling below 7 10 of a percent overnight, as you can see, the 10year is now. 738 , Jeffrey Gundlach says these gubz going to zero yield on 30 year treasurer below 1. 35 look at yield 1. 32 , 30 year down 22 basis points, numbers cautioned people to think this is indicating i go a recess, is on the horizon, the Coronavirus Crisis continues, and weve got now latest numbers, yearly 100,000 confirmed cases cross the world at least 149 cases here in u. S. Maryland the latest state hit by this virus, democratic field thinning out Elizabeth Warren has dropped out of the 2020 race, but she is not making an endorsement yet. Mornings with maria is live right now. Global markets story of the morning take a look ahead of jobs report european indices down across the board, ft 100 down 233 points, that is 3 1 2 cac quarante in paris down 211, dax in germany lower by 432 points, 3 and 2 3r number of coronavirus cases growings in are asia overnight similar across the board following selloff on wall street yesterday dow industrials down almost 12,000 points yesterday worst overnight japan nikkei average down 2 3 4 , oil reports this morning that have a russia will not join opec in extending the production cuts that is sinding oil to the lowest level in he more than 14 months another indicator, of weak did he manned is oil dropping, oil is down 5 1 4 , 43. 48 the barrel, some top stories this morning, peru announcing first confirmed case of the coronavirus as death toll why United States rises, 12 people dead in u. S. Over coronavirus, overall number cases nearing 100,000, in u. S. , maryland confirmed first case in the states, Governor Hogan says they contracted travel overseas but in Good Condition, in Washington State microsoft says two employees have been diagnosed with coronavirus. President trump is expected to sign the 8. 3billiondollar emergency funding bill today, he was expected to go to cdc no longer on his public schedule. Check out dramatic video of northern california, members of the California AirNational Guard delivering coronavirus test kits to grand princess cruise ship off coast of california 3500 people stuck onboard waiting to be tested a passenger from previous trip died from virus previous trill on that boat. Jpmorgan chase chairmen Ceo Jamie Dimon recovering after emergency heart procedure to repayer acute aortic did i secondion successful according to memory to employees dimon checked being into hospital yesterday, after experiencing chest pains, while getting ready for work copresident s are leading the bank in dimons abs shares under pressure ahead of open on news down better than 4 i sat down with dimon and j. P. Morgan Healthcare Conference two months ago talked business and his health. Is this Harvey Weinstein reports to jail moved to Rikers Island having a heart procedure had been in hospital since conviction on sex Assault Charges last month he will remain in jail until sentencing next week, he is also facing another set of charges in los angeles, this morning. Prince Harry Meghan Markle in london first appearance in uk since historic megxit announcing final engagements before stepping back the end of this month. Fox business alert waiting often february jobs report due out 30 minutes time expecting 175,000 jobs added to the economy in february Unemployment Rate z 3. 6 joining us right now making money host in stoppable prosperity author Charles Payne great book, and back with Stephen MooreDagen McdowellJames Freeman jobs on deck you know ebb weve been talking this morning charles about the significance of the february jobs report,steve made a good pointed what expecting in march a look ahead we want to understand, with this coronavirus impact. Yeah are you know of course march is the month where youve got so many businesses have said they are going to shut down, and most of them have given return dates for march, right . So march is the month that almost like rierldz me a little bit of 737 thing, where every time the number moved every time the plane was supposed to get back in air moved further out worse it was, so march a critical month characterization a lot of businesses, anticipate being back up and running by march, sos they already told public hey we are going to sit out for the a little bit but we will be back, stars jobs are concerned, the report is really important because, it points to sort of economic momentum. I mean, if you think about the momentum that we saw in this country economically in january, february, almost every area it has been mind boggling not just however, you know signs of resurgence in manufacturing, it has been phenomenon home in natural last two weeks every data point caused new york fed to raise First Quarter gdp estimates, two weeks ago every signage one that came out, we started at 1. 3 to end week 2. 0 next week 2 1 2 , of course, all of that stuff o he go into black hole doubt confusion because of coronavirus, steps businesses are taking not the virus in and of itself but steps businesses are taking to put people on sideline keep them will safe Economic Impact going to have you talked about some good news last cbp months i was particularly encouraged by rise in Business Investment in january. Following the resolution of the china trade dispute at least phase one, seems to me if you are a ceo thinking about longterm investment, you should not be thktdz too much about what the next several months of virus, impact is going to be, right . I would think you are looking at the longterm he questions in that last ism report one was the impact of the signing of fades one, did it have Significant Impact 24 said a positive Significant Impact. Of the on their business to your point. And if you lead to your point james pentup desire businesses want to grow, that is natural instinct of a business not to sit on cash not to get smaller but to get larger and larger the way to do that make investments. Dagen ro also if you are you staring into abyss instinct to do nothing. We are starring in abyss none of us would be here he we would be in bedrooms clutching perils counting end of days i dont know abyss a lot anecdotally is in the last couple weeks i kept saying this, are you businesses said no spending, no hiring, oh, you are right job oversees not writing job oversees they slammed on brakes i should say we were saying blind spot better than abyss but cant see into the future, driving. Kicked that guy down abyss some point, this is major big opportunity the. I was going to say ensure supposed to be the guy makes us money charles. Right. Where are the opportunities. First and foremost lets not lose money, first and foremost, okay . Because i was there, in 2008 i have been helping individual investors 30 years, every single day hundreds of people call my office, email for help, here is the thing first he step lets not lose money but by the same token you cant let ego play a role obviously, if you are Holding Certain stocks that is your seed money to make purchases, so you cant make blanket sales blanket buys china pin points exact bottom following looking at values i got to tell you maria i think markets will come back certain for sure in adadvanced micro, industrial presentation he mind boggling. I am not going for individual stocks right now i am not going to throw darts. If you go blaifshtr blanket people have gone blanket into passive investments guess what happened with passive investments buy good and bad goes up, goes up, i one of the things unfortunately some funds unwind they have to sell stocks when they sell stocks go lower then they have to sell stocks go lower look, you are going to apply a bond at. 7 Interest Rate in this crazy. It is lunatic, the 0 year what 1 1 2 right now so i think that there is great applying opportunities right now, by the way, you made a really important point james everybody looking over next three months. What about over next three years . You look at stocks, today, if you are on stocks for the lung run. Maria one one guest yesterday [laughter]. Maria yesterday steven from j. P. Morgan Morgan Private Bank said quote the market will be higher one year from today. So i think you also have to look one year even though numbers are going to worsen many more cases virus in this u. S. You say market i think the dow amazon facing google, a lot of market much higher some market will still be special coverage february jobs report coming out numbers out 20 minutes time flight to winlessless support the once 2020 front pruner exiting the race leaving voters up for grabs. Where will they go set clocks forward one hour forward on sunday for daylight savings time, time to spring forward. Back in a minute. Fun fact 1 in 4 of us millennials have debt we might die with. And most of that debt is actually from credit cards. Its just not right. But with sofi, you can get your credit cards right by consolidating your Credit Card Debt into one monthly payment. Including your Interest Rate right by locking in a fixed low rate today. And you can get your money right with sofi. Check your rate in two minutes or less. Get a nofee personal loan up to 100k. 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. And the technology to practically park itself. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. You will see what you mean to me dont tell me its not worth trying for you know its true everything i do i do it for you maria welcome back, 230e 20 race thinning out elizabeth riz dropping her bid for the democratics nomination a two man fight between joe biden and Bernie Sanders. Why will her supporters go that is the question now, James Freeman. Yeah the early polling looks like they split, so her leaving the race she might be wondering tomorrow why did i get out why didnt i hang around for a while to see if one of these guys falters assumption for a lot of people given she has Progressive Agenda socalled very similar to Bernie Sanders, that her voters would go there, but a lot of voters were hillary people in 2016. Dagen White College graduates you pointed out the wall street journal poll half supporters said second choice sanders half said moderate like joe biden or klobuchar, she finished fourth, in her home state oklahoma behind Michael Bloomberg how much disliked i think was intoxicated by crowds still had crowds showing up in lake detroit listen now yesterday i did feel for her but made it so violin music playing over it. I little girls . There was that. Big point it is looking very probable that joe biden is going to be the nominee there is a big story maria, today, in the wall street journal about his tax problem, people acting as if joe biden is so he will kind of moderate according to the wall street journal you four trillion dollars. The corporate taxes what is that going to do i am not buying the biden is some probusiness democrat, folks look at his tax plan it is i am saying that a couple weeks now spoton. The 4 trilliondollar tax increase estimates some think a little high a range of estimates but definitely talking about a multitrillion dollar tax increase that is significantly bigger than Hillary Clinton ran on in 2016, so this is important, when we use terms like moderate in the democratic race this is a relative term comparing them to Bernie Sanders. Amazing quick break then we got, the jobs report minutes away from jobs report everything you need to know where jobs are right now markets selling off. Back in a minute. Theres a company thats talked to even more real people than me jd power. 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. 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 welcome back, february jobs report due out in the a few moments, economists expecting 170,000 jobs added to economy Unemployment Rate holding as it 3. 6 weve got all handson deck looking atted the economy. From february, all the way onward to the rest of the year, wages lets talk wages for a second they have been rising what are you looking for in terms of wages. 3 growth slower but 3 mark above Inflation Inflation current inflation 1. 6 again still making more money than inflation. Bottom earners biggest moves. Trump administration policy. Look at market i await doss doss down 750 points a lot more right after this. Butchumal cut. Liberty biberty cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Mom honeydad at i think youi played jv basketball. H. Mom im sorry, i dont think it looks right. Dad this is good. And its all good, baby. Mom is it, is it really all good . Daughter if you love me enough to routinely test your handyman skills not to mention the strength of your marriage, then of course youll visit nhtsa. Gov therightseat to make sure im in the right car seat. Mom im gonna call my dad. Good friday morning thanks for joining us. Im Maria Bartiromo pb jobs friday breaking news he jobs report for month of february due out you in just a couple moments, economists expecting 175,000 jobs, added to economy in february. Unemployment rate at 3 int positive 6 await numbers futures pointing to sharply lower of opening investors questioning the impact of the corn sanctuary cityv on the economy, and treasury yields indicating could see recession sliding to fresh record lows, look at 10year down 19 1 2 basis points, this looks like low of the morning,. 723 is where the 10year treasury is, right now. Overnight it broke that, the yield 30year treasury below 1. 35 as you can see 1. 30 right now down 24 basis points, joining the conversation the wall street journal Senior Writer jon jovan, u. S. Bank Wealth Management sr. , Vice PresidentLisa Ericsson and analyst Johnny Courtney great to see everybody a stellar panel on set Jon Hilsenrath what is most important awaiting number three minutes away. Well, you know i think these numbers are before the coronavirus really hit so they are going to tell us how Strong Economy was before cries not after i do think that the outlook for recession 2020 election everything, comes down to whether companies lay of workers in this environment in this scare. And you know we can talk about this after the numbers come out, right now i am not seeing a lot of layoff announcements i think that is really important news. You know 10 days after 9 11 the Airlines Boeing had already laid off 100,000 workers, about united hiring frees not laying off people keep close eye on that. Lisa look at he yields on 10year where they are what with us it telling you do you think, we are in jeopardy of a recession later in the year. I think what it is really telling you maria is that really what market is wanting is to see fed continue to accommodate to cushion potentially impact of any economic downturn certainly impact of any coronavirus i think what you see is really a lot of concern, and volatility amid uncertainty really caused by current epidemic. Johne in terms of hiring have you heard about impact of coronavirus. Absolutely maria, you know even though, todays report not going to see it in those numbers, because the jobs report as we know more backwards looking this is going to be precoronavirus numbers. I definitely expect we are going to see some impact in the march and then april numbers. Were not seeing the layoffs right now, to Jon Hilsenraths point he is absolutely right. But there is more of a heightened concern for businesses, business are thinking about business continuity, ways going to happen if workers cant come to work. So it is going to have an impact, we may see some hiring slowdown in the next few months. I know charles you were looking at wages the Participation Rate you also feel that is very important in terms of getting this morning. He we will see in report nfib yesterday looking at Small Businesses the problem there they cant find enough workers, not it is workers maria very good point we are seconds away from jobs report to washington blake burman at Labor Department with number now. 273,000 jobs created in february, maria 273,000. And with that Unemployment Rate ticked down slightly, to 3. 5 , revisions january and february up january up 48,000 jobs to 273,000, december revised up as well 37,000 jobs to 184,000 bringing total risks last two months up you 85,000 jobs, the threemonth average now. February, january, and december. Want 243,000 jobs. When you look at average Hourly Earnings up a up as well up 9 points 28. 52 an hour a. gain for the month a 3 gain yearoveryear over the last 12 minutes, average workweek as well, ticked up. 1 hours to 34. 4 hours you were talking about labor force Participation Rate stayed flat at 63. 4 , u6 those are those total the total unemployed marginally were attached working parttimer due to k34ik reasons picked up of slightly to 7 . When you look at sectors job gains all across the board health care, up 57,000 Leisure Hospitality up 51,000 construction up 42000 financial activity up 26,000 we see who is a going on in the real estate industry. Real estate jobs up 8,000. Manufacturing had lost jobs last two months, up as well, 15,000 jobs mining up 3,000 jobs increase in government jobs federal, state local jobs combined amount 45,000 when you look at biggest loser when you look down that chart there werent many, many the biggest lose other retail as there was a loss of 7,000 jobs just to put notes on this february number maria 273,000 jobs jobs gain, now when you add risks to january, 273,000 273,000 jobs gained, exact same number and there is not it is believed there are not any impacts a whatsoever coronavirus top line 273,000 Unemployment Rate 3. 5 . Unbelievable. Blake about must so much blake burman this is can i say blockbuster. For the month of february blockbuster number about. You add in revisions what i have been saying almost every Economic Data point is showed that this economy was was reigniting a big monster say so you unfortunate coronavirus muddlede everything we are on trajectory this is what you call shared prosperity he phenomenal from manufacturing bounce back mining to bounce back areas when you see crude oil getting hammered like it is those are mining jobs right for the most part those are great the highest paying jobs along withute jobs phenomenon only natural. Have economy firing own all cylinders three or four weeks ago now the that is really you know ripped through the economy, the good news is, by the way, this was related to the trade deal that we had with china, everything was so good the wage numbers about fantastic for all groups, the good the really good news here now at least we have a cushion in the job market because we are going to take some hits in march and april probably from virus but at least weve got a nice cushion as people lose jobs there are a lot right now a surplus 6 million jobs in the economy. This is this is a snapshot what 24 economy can do when you have trump tax cuts trump deregulation minus trump trade fights, resolution china situation this is this is he phenomenal continues several months very strong job gains great job market a great economy now if we want to assume for a moment coronavirus is not a historic civilizations busting playing this economy is ready to roll. Even wage number dagen really good higher than a lot of people expected there as well. Dagen 3 yearoveryear wage growth outpacing inflation core inflation only 1. 6 , just to headline should be Unemployment Rate fell to 50year low, this is the lowest that i have ever seen in my lifetime, that is i what matters to people, matters to people that they can go out find a job people are still hiring the foundation of this economy so solid a nation that can certainly weather what is being thrown at it by a virus that did originate in china. Jon hilsenrath, when you have this kind of a backdrop going into what we know comoigs to be a slowdown, because of coronavirus to have you he feel maybe it is not as bad or wont be as bad as we thought but, of course, we dont know about impact of coronavirus. Maria you know i have been the optimistic about how this virus is going to play out that 3 1 2 Unemployment Rate exceptionally Important Companies are short of workers i think there is a cultural change happening in companies, back in august they put out the statement saying they had to be, more considerate about their communities and workforce. And you know i think what is not happening right now is very important, were not hearing mass layoff statements united hiring freeze not laying people off 100,000 workers laid off by Airline Industry after 9 11 within 10 days microsoft put out a statement tie saying they are going to continue to pay hourly workers cafeterias and cleaning people even when 14e shut facilities down if job market holds together the economy holds together that is critical. Maria for sure, joanie construction up 42000 manufacturing increasing by 15,000, of course, that year has been you know had problems given boeing station, et cetera. Of the. Yeah, maria this job report i mean really speaks to the overall strength of the economy. And you know i always love coming own your show for the last few months i have been saying, we are starting the year off strong. Of the you know. The demand for talent in all of the sectors is very, very strong. Maria where are best jobs that is what viewers want to mother. Yeah obviously, health care continues to be one of the strongest sectors, not just because of coronavirus but that sector has performed extremely well. But there is hundreds of thousands of jobs available, open in the United States in the manufacturing sector, construction is very strong as well. On the business support rolls professional business support from Customer Service working in call centers we certainly see that in our business to finance and accounting some of the lowest Unemployment Rates in the United States in those sectors overall as weeks this is outstanding job report speaks to strength of the economy which, you know before, obviously, acquiesce been dealing with coronavirus, hopefully all the things that we are doing in businesses are doing to protect you know, the spread of this virus is so important. Yeah. So we keep economy growing, and keep us own track trajectory that weve been on. Maria lisa weve got a fed meeting in two weeks march 17, 18th we have been expecting going to see another rate cut do does this take that off the table in your view . What does this mean Going Forward for fed meeting and economy Going Forward. I think it certainly is a shot of confidence and, again, in terms of where the economy is, coming into the spread of the virus. In terms whether takes rate cut off i think oddsstill for rate cut on such High Expectations for fed continuing to do ng i think there is to act i still bet on some probability of a good rate cut. Maria weve got a market that is off the lows, on this number, but we are still looking at 600 plus point o selloff on dow industrials this morning Kristina Partsinevelos on the floor of the New York Stock Exchange with reaction to this blockbuster jobs report are the what is the tone there kristina. Everybody did hear news heard also the fact we added jobs wage growth increased salary growth i should say seems i asked one trader he said letso let hangover wear off we will absorb numbers relatively positive with this on friday a volatility day last freuh we did have a huge selloff a lot has to do with pension rebalancing, obviously, emergency rate cut we talked about with fed but today seems like it is still relatively volatile especially 10year yield dropped to alltime low come off that low the moment but often this is a number a lot of traders around me do follow there you go on screen 0. 752 concerning so a moment where corn coronavirus on everybodys mind if i can add anecdotal part what we call permanent proximity traders talking about that said hey in my hometown now because top of mind 2350e8s like a lot closer could potentially hit them the psyche of some traders here we are seeing like you mentioned the dow now down in futures market 969 points definitely a selloff this morning maria i end one more thing secretary of state pompeo was just on another network cnbc recused china not being are forthcoming about this outbreak as well all things we have to take in but job report well received by everybody here back to you. Maria china should definitely have told truth about coronavirus for sure obviously, a bad actor on global stage look what happened in mooshth down market o down 660 points. Dow fighters. Most who he trade understand professionals big thing into the week is do we have to retest lows from friday . And sometimes it feels like no matter what happens no matter what news is, before you can get we started this segment talking when to apply. For a lot of folks going to be buy signal go down more shake out few more weaker hands retest low from last friday hold there, and i think that is when you can see series 1,000 point patriots for dow markets coming back although volatility is with us until we get more coronavirus answers. Maria dagen. Dagen the individual investors the ones got this right all along last year, i say this over and over again is he professional investors getting taken to the woodshed last year individual investors pulled more money from u. S. Stock funds eof the tfs mutual funds in decade put hundreds of billions of dollars into bonds and money market funding professional investors the ones upping leverage borrowing money to lay on betts take on risk right before this outbreak. Professionals giddy they were wrong why you see market volatility, i think our viewers individual investors can sit back go p i knew my portfolio was with allocated properly i can ride this the out i have confidences in American Country worker grit determination. I am a policy right you are right jails you get regulation of the back and then trade deal, we forget how important that trade deal china, and canada, mexico. Maria spigot a beautiful, beautiful picture in terms of policy i know trump, will be happiest be loves calling himself blue collar president we got blue collar jobs, 150,000 addition suffocate. Construction jobs great paying jobs. Exactly. And we are entering spring summertime this is a strong area for the economy popular as other parts falter for a plut. Maria this could be you no this could be a real opportunity these next ebbs couple as you see market freak out over coronavirus Jon Hilsenrath what are you going tolook at in terms of metrics about in coming months given the fact expecting slowdown on the economy. Every thursday morning, at 8 30 the Labor Department puts out numbers on unemployment claims, people filing for unemployment benefits. That is a realtime indicator that is going to tell us if companies are laying off workers, or holding on to them right now that has been very stable that is another really strong indicator. I have watched that every thursday morning. Dagen mike we keep leaning on him from cornerstone macromaria so far ahead using the research, he comes on this program i take notes every time he is on everything he size spoton a few days ago said that very thing watch consumer confidence, refinancing activity shot up to 7year high unemployment claims fell most recent can i o he jump . Jump . You are saying cornerstone macrospoton in terms of the economy, best Research House today. I just want to say, consumers is a bedrock of growth make up 60, 70 all economic output as long as incomes outlook are stable they are going to find ways to spend money. It is in aboardrooms are they going to lay people or other arent they . I think cultural change in barred roolz the change of gundlach whenever a risk with whack people will protect profit Margin Companies are realizing you cant throw people away when something bad happens. To the point this is a first test, of the business roundtable, and stakeholders honesty about it but also ins, too tight labor market lay someone off you may need three months from now. Maria good the point. Going to cost more to retrain. Workers just fine, the overall number, upwards, issue including revisions, adding 360,000 jobs hard to find negative in this report, if you were going to pick one you would say. Maria retail. 45,000 government jobs, added. [laughter]. Producing we see bifurcated area. Good point lisa jump in Lisa Ericsson. I think just a really nice report maria i think the most comforting thing to me even though we may see continued Economic Impact based on spread of the virus again giving us a nice cushion going in i agree with with some of the other points that have been made around what is really going to be important Going Forward, a lot of it going to be around the sentiment and confidence whether people continue to step up and spend and invest on the back of this. We will see about that any thoughts before we take a break, john Joanie Courtney what you are hearing from your clients . Yeah, maria i did want to jump in on that because i do speak with our clients, every week was on the phone with one of the Largest Companies in the United States, this week talking to their hul resource department, Human Resource department Jon Hilsenrath is absolutely correct employers are not wanting to get into positive you know large layoff situations they want to hold on to staff we are seeing empliers cautious trying to evaluate how much risk trying to put plans in place to hold on to their workforce we dont know what the virus impact is going to be. At this point. So i dont think we are going to see massive layoffs, but if the virus gets worse then yes employers will start to take action we dont see that happening tie. Just more cautiousness and i would expect that to continue. Go ahead. Quick point because you are so right about that. And when we did the trump test people dont understand realer we wanted to cut taxes on business so they would invest more hire more create very tight labor market that we have who benefits from a tight label market . Have workers do wages up because they have to pay more to retain attract workers worked like a charm tax cut has been great for middle class idea only benefiting rich is ridiculous. Maria democrats say that all the time. Dagen Maria Bartiromo understood that. I am not saying you. Dagen tom freeman said economy would never recovery from krugman. Excuse me glass to hear correction. Krugman said economy would never come back, looking tax cut plan move needle, are we going to need as stimulus on fiscal side should this market be right, because this market is making a prediction here with thousand point declines every day isnt it. A great question, because all Central Banks, by the way, ecb bank of england everyone waiting for socalled coordinated one reason rally failed earlier it was ant coordinated action by Central Banks, now Central Banks suggested you need fiscal policy i know administration looking at few things steve i know you probably are conflicted when it comes to this but Election Year if there is a sense that the administration did not come to the aid of people, who have to go to the hospital, and cant pay 4,000 dollar medical bill could be dangerous. Well dagen quickly, the plan is for them to for the government to recurs hospitals to carry for uninsured, rates that are 110 of maked rate anybody about with this virus can go to hospital wont have bills go ahead. Policies generally good i dont think the president ought to be thinking about trying to do a stimulus plan now anything he is going to get through the nancy pelosi house is not going to be progrowth not going to be about improving incentives going to be some kind of give away if president thinks we need legislation i would target it toward reducing legal and regulatory barriers to creating marketing vaccines that is it. In 2009 obama has elected 30 billion dollars had no positive on economy. Government spending does not stimulate the economy no more spending it doesnt work. Dagen joe brawl temporary payroll tax cut, go it did not work president obama did it Unemployment Rate 9 . I dont debris with steve, saying going to be kind of thing that is floated in Political Year it will be, just like coronavirus itself. Maria President Trump one second President Trump is going departing for nashville momentarily before going to nashville going to send emergency spending 8. 4 pn for coronavirus. Forsake being argue meantive i want to say to stephanie deposit spending doesnt work we are running trillion dollar deficits because Government Spending growing very fast a message republicans and democrats needed to hear if you want to slow Government Spending. Why we dont need the another Government Spendings stimulus we have you too much Government Spending. Dagen jon can i ask you a question President Trump last night pivoted to defense spending why spending more. I hear you i i dont hear the show. Dagen jon can you hear me. Dagen. Talking to producer. Dagen sometimes somebody has their key open. Maria president last night on defense spending dagen said what. Dagen essentially when they asked him put up a graphic, because i actually i am a lose er i took my a screenshot of graphic that nice chaem used 4. 7 trillion debt signed into law under President Trump including 2. 1 trillion Discretionary Spending he said we needed to up military spending not just for the military not just defense. One question asking are we going to need the military to help in terms of building hospitals and clinics coming up . If in fact number of coronavirus cases keeps rising . We dont know. Big unknown Washington State is the place to watch for Something Like that because obviously, they have been caught flatfooted there are reports nurses not being trained up, things like that, maybe you know shortages of items you talked about Jon Hilsenrath you with us. I am back i likewise the my pieces. Maria defense spending after town hall. Dagen blowout in our annual budget, the blowout in budget deficit isnt all defense spending where does that come from. Not all defense spending defend and otherwise defense and otherwise the president agreed to supplemental spending billed exceeded targets that were set back during the Tea Party DaysGovernment Spending was on discretionaryingr you discretionary side ratcheted down so across the board. He made trade give me higher Defense Budget i give you socially spending you democrats on hill want. Second term gets religion on this. House and senate to get religion. Go ahead jon. I am saying lets not pretend that anybody in washington is antispending right now the whole town spending like no tomorrow. Umhmm. And doesnt the public doesnt seem to care anymore i dont know if we were talking to so much at 15 trillion going over a cliff didnt go over that cliff yet, maybe it starts to fall on deaf ears. Do we care who we are borrowing from do we care landing on china, and the other parts of the world so your handing power to these countries, that that hate us that basically china origin of this virus knocking down the Global Economy. Maria true wuhan virus. We are paying them rick threequarters of 1 for all money they are giving us that is the other side of this argument, yes, we are ring. Arroga. Guy gantic defendants. 2e67bd you 00 somebody something. I am worried the worry side is a deflation look what is happening i know. A long time worried about that dont want to say it out loud. Bin curve i do think more dollar liquidity in economy because deflation shrinks the economy. Dagen no deflation in wages. Look at i think virus has reduced demand for lots of things. Maria right. We will learn in week ahead whether how much how concerned we should be. Maria demand shock, supply shock. Let me get your take what it will take to stop this heavy selling every day, what kind of clarity do you want to say in thank you pharmaceutical companies they found a vaccine totalitarianism than later or therapeutics we can treat this what is it going to take to get clarity for markets to thop thousand points decline. I think to your point more of a sense certainty about the virus i think going to be a number of indicators folks are looking for, including spread of the virus as well as you know, clarity as far as treatment, and recovery rates i think really going to be a combination of all those factors really what you are seeing right now a market p reacting to huge amount of uncertainty. Of the and when you have that you are just going to have a lot of fear and panic 37 when we look what is going on in the markets generally very uncertain event happens there are three stages i think we are in stages one and two we call first the rereactionariry headline to headline, and then clitdz phase on back of that reaction and prices, you have a people who then have to further react even because of calls on margin, or other types of position limits so i think until we are giving more stability you are going to continue to have reaction in liquidity flight until things bottom out a little bit. Maria by the way, joanie you talking to go h. R. People all the time identifying where jobs are how Many Companies are what can you tell us in terms of those and increasingly employees working from home . Yeah, well, i mean, every company right now is putting out Business Communications and giving their employees directions if theyre not feeling well, if they have a slight temperature, to just stay home and work from home, or if they cant work from home, but to stay home and not come into the workplace. I think businesses across the board are putting policies in place. We have seen it. I heard, you know, all of you talking about it earlier with conferences being canceled. I know my company, we did the same thing. We had a large conference, we were supposed to be out of the country for a few days. We had to cancel that, and its to protect employees and its to protect the spread of this virus. But we are going to see that impact, because Business Travel is coming to a halt in the United States. Employers today are telling their employees if its not necessary, if its not essential, dont travel, work, you know maria it happened to me, too. Happened to steve moore, too. A lot of us here. Its going to impact maria exactly. Charles the future is supposed to be people working from home and Work Life Balance. We are told thats going to be absolutely amazing. The market doesnt like it. It will be really interesting to see as we go into this new age society where Work Life Balance is, you know, rules over everything and employers try to make that available to folks, how it really works in realtime. May not be great for the overall economy. Weve got this blockbuster jobs report, it just came out a half hour ago and the market hasnt reacted at all. Maria still down bigtime. Yeah. Because theyre looking ahead. This must tell us the february jobs report, as strong as it is, is not important to wall street. This is not just a stock market story, its also a bond market story with the plunge, people are running for cash. They are hoarding cash. You see a plunge in the tenyear yield but money flooding, billions of dollars flooding out of Investment GradeCorporate Bond funds. There is that worry about a dislocation between treasuries and corporate high yield bonds and again, if you have an economic crunch, what happens with these companies that are heavily indebted, say in the energy sector. Charles we will see what the future holds but our latest data today says this is a great job market. This is a great time to be looking for work. It is a great time to be working in america. Maria is it a great time to be looking for opportunities in the stock market . Charles absolutely. Maria i think i agree with you. I think youve got to really start looking for opportunities here. What are we down, 14 , 15 from the highs . Charles we will be down probably 9 for the year. But we are in correction territory. Most stocks are in correction territory. I tell people like this. What stocks, it was three weeks ago on a thursday when we closed at an alltime high. What stocks on that day that you wish you owned but you didnt, right . I missed that one. Golly. Go back and check it out again. Dagen theres the middle ground between buying and selling and thats just staying put and keeping your allocation telling people to sell when the house is already on fire. Maria thank you all so much. Great day. Its going to be a wild opening. Find it all on varney company, up next. Stu, take it away. Stuart we got it all. Good morning to you. Good morning, everyone. Look, its friday. Its a tense time on the financial markets. Very tense. Heres the best anxiety indicator of all. The yield on the tenyear treasury. Okay, it sounds technical but this shows how much money is flowing into safe investments and how much is flowing out of risky investments, into treasury bonds, out of stocks. That yield absolutely tumbled overnight, touching a low of. 69 . Right now the yield is. 73 . There is a bright side. This means lower Mortgage Rates to come. Now, stocks. Another big day, a down day at the opening