Transcripts For FBC Making Money With Charles Payne 20240713

This rally is coming after the Senate Approved a record two trillion dollar plus relief package but well have the latest from capitol hill, what it means for Small Businesses. What does it really mean for you . Well have all that and a lot more, coming up on making money. Cheryl we start with one of the reasons the market is powering higher. The Senate Passing the massive 2 trilliondollar coronavirus stimulus bill overnight after days of deadlock. It moves to the house and then the president s desk. Hillary vaughn with more how the bill could affect you at home. Hillary, a lot of wrangling to get here . Reporter thats right. House Speaker Nancy Pelosi said she had to do jujitsu to get where her caucus would support it. It gives cash directly to americans. If you give up 75,000dollar a year, youre a single filer. Direct payment of 1200 a couple, making combined income of up to 150,000 youre getting two times that but americans waiting for the money have to wait on the house to pass the bill that the senate signed off on overnight. The fastest way to get it on the president s desk would be pass this by unanimous consent. It essentially removes the possibility of a roll call vote that could slow down the process but the house is not going that route. A lot of americans have heard about the direct payments that theyre getting as part of this bill and the biggest question they have is when are we going to see these checks. Why not approve this bill by unanimous consent so that American Families dont have to wait even a moment longer . I dont think we will get unanimous consent. I think there are some people on the other side of the aisle who are coming here, to would object to that, but were not worried about that. But one way or another, with losing no time with or anything else we will be passing the bill tomorrow. So thank you. Reporter to speed things up the house is trying to limit the hours the bill will be debated on the house floor. House majority leader steny hoyer released a plan to have members submit arguments by video instead of them coming all the way here to make the argument on the floor. The package has a lot more than cash payments. It offers 350 billion to Small Businesses. It also has 150 billion for state and local governments. Of course 25 billion for airlines and 500 billion, Funds Available to, in the form of loans for for Midsized Companies an Larger Industries hit pretty hard by the virus. Cheryl. Cheryl a lot of money being thrown around. Hillary vaughn live on capitol hill, thank you so much. Stocks did rally today on hopes of that stimulus, well the fact it looks like well have something signed on the president s desk tomorrow. Were off the session highs right now. Were up 968 right now. If you look at, for a moment we were in bear market territory. We were up 1216 points. Well see if we get there in the next two hours. The news was rough this morning, you cant escape it. A record 3. 28 million americans filed for unemployment last week. Federal reserve chairman Jerome Powell appeared on a Television Show this morning. He said the u. S. May already be in recession but he made it very clear that the central bank is doing everything it can, to insure a quote, solid rebound once the coronavirus is contained. Lets bring in point view Wealth Management david dietze, Money Map Press chief strategist here. Comments on fed chair Jerome Powell was on the today show this morning. The fed will be aggressive but look were probably already in a recession at this moment. Maybe he is stating the obvious but it came from the Federal Reserve chairman. Certainly the best part here, he is speaking directly to the people. I think that is so critical because obviously confidence, confidence among all americans is so critical to get through this i also think, remember, just go back a couple decades, the Federal Reserve never said anything. Now he is on a popular channel. I think that underscores the resolve that the Federal Reserve has to do everything possible. One thing im watching for . Will they do anything about highyield bond. That is what we have to watch for. Cheryl also, keith, it made me think as he was talking this morning investors are looking for a time when maybe the market will flatten out, bottom out. It all depends on the virus but it has been made very clear now that the government is going to be there, the Federal Reserve will be there, treasury secretary Steve Mnuchin made it very clear well do whatever it takes. When do you get comfortable to get more into stocks, more than were into today . Well ill tell you what, you never truly get comfortable if youre doing this right because youre always trying to go towards the future, what the stock market will do next. I think you dont change course. If youre a long term investor, youre continually looking for the best place, the best time. Thats now. Well see as the recovery mounts, well see stocks run 50, 100 . Dont forget the economy was strong before the virus hit. This is biological event. Not a banking event. Cheryl estimates were one to four million. 3. 2 million was very rough. We had 13 straight somebody 113 straight months of jobs added to the economy. This was not a money shock to the system. This was a medical shock to the system. We were saying initial reaction would be more extreme than was thought. This exceeded what was the survey numbers but it obviously was less than the socalled whisper number. That is one reason the market is going up. For all Market Participants this, is a symptom, not the cause of the volatility were seeing. As keith was suggesting all eyes have to be on the path of the virus, corona, the best news people looking at china, asia, even a little bit of spain and italy. A little bit of leveling off. That is what you want to stay focused on, not the jobless numbers. Keith, a few companies are a couple market stories worth mentioning. Companies like apple, mcdonalds. Ford coming out today saying they will likely restart production at five new plants. American companies are saying, look, we may get back to work. Weve got plans and a lot of ceos are taking salary cuts. The news is going to be great when earnings season starts up again, but i see a lot of companies and management taking proactive steps to kind of ease the pain well likely see from the earnings reporting season. I tell you, cheryl, that really gets my attention more than the government, more than the stimulus, more than any central bank intervention. You have the worlds best ceos, are right there, looking through this, making planned steps, theyre deploying capital, investing, moving forward for the american people. The numbers will not be great, in fact they will stink compared to what were used to. These are not normal times. I look to the ceos going forward. Anybody hiding in the bushes right now i dont want to invest in. Cheryl people are certainly looking for opportunity. Charles payne and i talked about this already. You have to look for good companies, strong companies. I do applaud some of the ceos out there right you no. David, keith, guys, thank you very much. Great to have you both here. Thanks, cheryl. Cheryl well you know the market is the virus, the economy is the virus. The United States just hit a pretty grim milestone overnight. More than 1000 people have now died in the United States from the coronavirus. The number of cases inching past 70,000. Global cases we just learned in the last hour have now gone over half a million globally. New York Governor Andrew Cuomo did say there are signs that social distancing is working. Are we turning a corner in this fight . Lets bring in fox news medical contributor dr. Janette nesheiwat. Great to see you. Too you, cheryl. Cheryl the numbers are sobering, we cant escape that, but what are you hearing and seeing right here in new york from your colleagues, and this is the epicenter of the virus, what are they telling you . It is a stressful time. This is challenging. This is something we never dealt with before, myself and my colleagues and it was unexpected but i think were starting to grasp and understand what we need to focus on. Number one, ppes. Number two, social distancing. That is the Biggest Issue i see, patients not being compliant, causing spread of the virus. Third we need to focus on expanded testing. If we can tackle those three things, we could potentially, maybe, small possibility of opening up on easter. That would be a dream come true. Cheryl what did you make of dr. Anthony fauci last night, he was doing the White House Briefing obviously with the president , the Vice President , he talked about the cycle of viruses, basically theyre looking ahead to next year when we get the virus returning, it goes around the globe, weather patterns, heat, cold, this is flu season . I have to say, i was looking at a cdc report, 40,000 people died from regular flu. A lot of people may have flu or coronavirus. Were trying to test them. Is this something we need to worry about for the long term, coronavirus . Youre right, 40 Million People have been affected by influenza with over 300, 400,000 hospitalizations from flu. I hope this does not become a seasonal virus. Its possible. It is too early to tell. But what were going to do is, look at the southern hemisphere, look at countries, could not innocent going into the winter season. If they start having influx and outbreaks of the cases, there is a possibility it may come back in our winter season. I hope and pray that is not the case. It is too early to tell but the good news is well be prepared if it does come back. Well have a vaccine hopefully within a year or so. Cheryl okay. Then medications to help us fight it if it does come back. Cheryl before i let you go, easter, that date has been thrown about, maybe lifting some restrictions on americans. What do you say . So if you think about it, cheryl, that is over two weeks from now. What do the guidelines say . Selfquarantining for 14 days. Ideal perfect world, if everyone truly adhered to the guidelines and protocol it is a possibility that numbers will shoot down but, im seeing a lot of noncompliance. People are not following the rules of social distancing, six to 10 feet. Avoid crowded areas. Stay home if youre sick. If were not following rules and guidelines we may not make it by easter and may have to be cheryl we didnt get to it but there is really promising news coming out of the uk with studies and Government Data the British Government came out with. Well get it to next time. Dr. Neshwat, good to see you. Good to see you, cheryl. Cheryl were staying on markets, including Charles Payne. He will share what he is seeing in todays rally. That will come up in about ten minutes from now. By the way today would have been baseballs opening day, can you believe it . Draftkings ceo, he will be here. He will tell us how hess company is holding up in a World Without sports. That is coming up, 2 30 p. M. Eastern time. First the viruss impact on big business. It is dominating all the headlines. It is devastating Small Business. What the stimulus package means for the Small Business owner. That is coming up next. Liberty biberty cut. Well dub it. 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How do you expect this to play out with Small Businesses across the country . I think it will play out actually okay, smaller. Im confident. My big e issue with the program you and i are talking about it but none of the people really know about it. Education is not getting out there good enough. Let me explain how the Program Works and some other funding in the stimulus. The Small Business administration couple weeks ago started offering some free loans under its Economic Disaster Recovery Program which is great. If youre a Small Business looking to look low cost, very low interest loans, go there, borrow 2 million, pay it back over 30 years. With the stimulus program, it is extending section 7a Small Business administration loans. What that means, you as Small Business owner can go to member bank, not directly to sba, you can get loans to cover the operating expense, right . At the end of the loan you will be forgiven to costs related cheryl forgivable. This is the problem, why dont Small Business owners, we had several understand how to do this . They dont get it there is messaging problem from the Small Business administration in particular. Part of goes back to congress, so busy fighting in d. C. So many people at home, businesses shuttered. Theyre probably laying off employees every single day. We saw that with 3. 2 million initial jobless claims here today. What is the problem, gene . Why is there so much confusion . First of all, not only i agree with you, when we first started this is educational issue, getting word out, getting Business Owners to do what they have to do, but my take this is down to the banks. This program will be administered through the Banking System and sba. Cheryl can they handle it . Can they handle isnt . I do think they can. Bankers are pretty smart. The banks doing this have experience with sba loans already. However they have to get up to speed right now. They have got to get questions answered. They have to be reaching out to Small Business customers and any Small Business owner out there. I dont think a lot of bankers know, a lot of employers east are at homeworking thinking about other things. This is the enormous opportunity for banks themselves to help Small Business. They are backed by the federal government through this program. In my opinion i think it is a banking issue, not necessarily a government issue. The banks have to pick up the ball to run with it. The banks that do, i think they will realize a lot of opportunity from doing that. We need the education. Youre right. Cheryl look, any Small Business owner, Sole Proprietor watching right now, get your conversation going with your bank today. Right now. Because those banks will be flooded. That is my worry. I hope im wrong. Youre absolutely right. Thank you, cheryl. Get out there, talk to your banker. Cheryl im good. I have a real solid job here. I feel so horrible for these Small Businesses across the country and their employees. It is heartbreaking. Gene, thank you so much. Thanks, cheryl. Take care. Bye now. Cheryl he is hard at work. He is looking out for you and your money. Coming up next, Charles Payne is going to share what he is seeing in these markets. We could have three days in a row of gains. We havent had that since early february. I cant stress the importance of three days of gains. Coming up at 2 30, ceo of draftkings, 10 minutes away. He will tell us how his company is handling the virus and how no sports will not derail his plans for a market debut. Cheryl stocks are surging on hopes the house will pass the stimulus bill tomorrow to get help toe americans and those businesses that struggling during the pandemic. The host of this show, Charles Payne on what is moving markets. First off, what do you make of the fact that we could have three Straight Days of gains for the dow and the s p . How much should we hang our hat on that . I think a whole lot, cheryl and it is not to say that the worst is over, you know. For the most part you will hear 90 of all the quote, unquote experts say we must go down to retest the lows. So im not sure that necessarily has to happen. I will say, there is some skepticism about the leadership, right, today. Oxy petroleum is the number one percentage gainer. Heck, oil itself is down. We have talked over and over again, royal caribbean, norwegian cruise lines, airlines, Oil Companies are up tremendously. Some stocks are up 60 this week. I understand leadership is not the kind of leadership that leads you back although the flipside is boeing which is up more than 100 from the low last week and other industrial names because in part the dollar is getting weak as well. The ability for the market to snap back quickly this fast, should give people confidence, when the actual close is clear, cheryl, we should make one heck of a record breaking rally to the upside. Cheryl looking at jay powell, monitoring his comments, he talked about that. He said look were probably in a recession, he admitted that, but the fed will do act as aggressively and well see a rebound. My take, charles, we fell so quickly. We were headed records a month ago if we fell that fast, can we go back up that fast . The answer is absolutely yes. The first wave higher, you will see, junk stuff, names that are the most broken, probably have the best rebound. Of course, put it this way, if the stock went down 50 , it would have to go back 100 to break even. Sew these names down 80 , they will make these big moves, but as time goes buy well see more established names out there, particularly Large Companies with a lot of money, disney of the world do extraordinarily well. I agree. I think jay powell is right. I think a lot of other folks are right. Were in unknown territory at this point. Just imagine when the 3. 3 million unemployment number came out this morning, if we were off 1000 points today, no one would blink an eye, we would say it is because of that. Instead it is almost the exact opposite. Cheryl at one point we were out of bear market territory, intraday anyway. That hasnt lasted. Think about all the politicians, charles, they have all opinions where were at. At the end of the day it is about the economy. I think the biggest concern we forget to talk about, we are a consumer driven economy. 70 of our economy is Consumer Spending and im wondering how long that will take to come back . I think that is kind of a worry for some. Are you worried about it . Im not worried about that per se. I am worried where we go. Retail names will do extraordinarily well. After this hit i can go to costco. There are a lot of retailers i cannot go to. Ironically the weakest, most precarious retailers out there. People are losing their jobs. Modells made it official. They told people they cant come back. We will continue to consume. That is our nature. I hopeful well do it outside of our homes. Although that was a trend also in play but you do have to worry about which retail names wont be there, wont be able to survive this downturn. That is a question for investors. Cheryl also wanted to ask you about the automakers, charles because big story this morning, kind of surprised me, ford is going to restart production at five plants. They will do that next month. They said well open back up, but well make sure our employees are safe, that the environment is safe. That everything is clean. What did you make of that . All four major automakers adjusted their restart date today to couple weeks out. It was next week or maybe week after. Sometime in april. I think that is wonderful. President trump should look at those kind of announcements when he may want to try to bring the entire nation on on not one plae or another at the same time. I dont think you bring north dakota at same time you bring new york city back. We hear corporations one after another, we think at some point in the very near future, late april, we will go back to business. So those are the benchmarks, those are post signs, or guidelines im looking for as well as we start to get numbers down, and reach apex for Corporate America to come back because thats when we know perhaps the coast is clear. Cheryl all right. Charles, really enjoying our conversations. Same time tomorrow . Let me give one shoutout before you go. I have to give one shoutout to my nephew and other detectives at the new York Police Department Violent Crime squad. They love the show, cheryl. They watch the show every day. They love the network. Theyre doing amazing job. I just heard moments ago the coronavirus is spreading among new York City Police officers very quickly. We salute them at the service. Mark, i love you. Tell all the guys hi, especially guys bought boeing this week at 90. Cheryl having same conversation with my friends. Thank you to all of them, we appreciate them watching, we really do. Absolutely. See you tomorrow. Cheryl Charles Payne, everybody. Host of this program. Well today was supposed to be, this is kind of depressing to say, it was supposed to be opening day for Major League Baseball but the coronavirus has postponed the season indefinitely along with the nba, the nhl and of course the summer olympics are being postponed until next year. The gambling world is taking it on the chin. On top of that, Sports Betting site draftkings was slated to go public this year. Are they still going to do it . Well bring in draftkings ceo jason robins. How are you . Hi, cheryl. Cheryl do you still want to go public in this environment . Were proceeding with the plan. Were right on schedule. I want to say before we start, echo what charles said at the end. We all owe a debt of gratitude to police, medical professionals everyone else putting their lives on the line right now. I think some of that gets lost in all the business talk. There are real human lives put on the line to save other people. We all a debt of gratitude to those folks. Im happy charles called that out. But on our end, the plans, we dont have a big physical presence. So being digital company, obviously not having sports reduces the amount of content we have but the types of things our team is working on, products were building, nothing much has changed. Same story on going public side. Were kind of proceeding with that as planned. Really were trying to continue with the same strategy and the same path weve been going down. Cheryl i was thinking to myself, more and more, betting online has become the trend, it is more acceptable these days frankly. So us did the lack of sports thats available hurt you or do you think it gives you an opportunity to bring in maybe new users . I know obscure sporting events happening in other parts of the world. I think folks are trying to bet on those events, is that correct . Youre right, it is both. Certainly there is some loss of revenue not having people bet on things like nba, march madness. Were seeing adoption of new products. Everything from, we have run tons of pools of the everything from pools on the democratic debate to the weather. Curb your enthusiasm pools, survivor pools. There is good possibility were bringing in new people, finding content interesting more so than other sports. Were getting people who are consistent customers playing Sports Products that were playing the Sports Products saying maybe i will try other things out. I think this has potential silver lining. Were introducing new people with different products. Maybe people wouldnt come on to some Pool Products were creating. Im proud of the team rallying. This is based around having underlying content. If sports content were used to having isnt there, how do we create new content or content traditionally havent been thought of . We have done over 25,000 pools. 300,000 entries and 500,000 in prizes a week ago. Cheryl that involves road show and that is owl in the plans, how do you figure out a timing after ipo . Talking about market second half of the year. Are you thinking second half of 2020 . Ours is a bit different. We didnt do have a operation ipo. We did a [inaudible] i like to say we were prescient. Sometimes it looks better on the back end. Fortunately we chose that route because for us in many ways the quoteunquote ipo raised several months ago. There is 400 million plus in assets sitting in a shared account freely trading under the symbol right you no. So you know, we just need to close that deal and nothing really has changed there for us. Timeline is kind of the same as it was before. Were guiding people towards two and cheryl two, two . Yeah, coming up. Cheryl jason, certainly were curious how this plays out. It has been a lot of changeses for everybody, especially those that love sports, love to bet on sports. Jason robins, thank you. Thanks for having me. Cheryl he will with the white house is trying to hammer a social distancing message to a younger crowd. Dr. Anthony fauci of Coronavirus Task force sitting down with steph curry on instagram reiterating younger crowd to city at home. Last week he was on barstool sports most popular podcast. Cheryl mark green will tell us if he is expecting problems getting the stimulus bill through the house tomorrow. There he is. Well get to him in a moment. Were asking how his home state of tennessee is faring. Outbreaks are in several amazon warehouses around the country. Later in the hour, what the business is doing to keep their employees safe and your packages safe. Well be rightyo back. Every step is clear, theres nothing to stop you from moving forward. past them because she didnt sknow they were talking to her. G and she would just walk right deborah i just could not hear. I was hesitant to get the hearing aids because of my short hair, but nobody even sees them. avo our nearly invisible hearing aids are just one reason weve been the brand leader for over 70 years. deborah when i finally could hear for the first time, i started crying. I could hear everything. avo call 1800miracle to start your 30 day riskfree trial and schedule your free hearing evaluation today. Its putting that hard asset as insurance, you might say, against the paper dollar. Thats why i bought gold, its not for my insurance, but its for my daughters and the grandchildrens insurance. That i felt like that generational aspect of passing down gold, is securing them a future. Of course, nothing is without risk and that being said, i feel that by diversifying with Precious Metals, that i am covering my bases. Its a hard asset, you can turn it back into cash. Whereas keeping a lot of cash in your bank account can really almost end up being nothing. You have these dollars over here sitting in a bank drawing practically zero interest. I think gold and silver has a greater potential for increasing in value. I mean, you have to keep cash, but you dont have to keep everything in cash and you dont have put everything in the stock market and you dont have to put it all in the bond market. You do a little bit of everything and then you sleep at night and dont worry about it. In fact, i sleep better with gold than i do with the stock market, because its tangible, its there. 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But i was diagnosed with dupuytrens contracture. And it got to the point where things i took for granted got tougher to do. Thought surgery was my only option. Turns out i was wrong. So when a hand specialist told me about nonsurgical treatments, it was a total game changer. Like you, my hands have a lot more to do. Learn more at factsonhand. Com today. Cheryl we have breaking news coming into fox business. President trump has sent a letter to the nations governors saying that the administration is working on new coronavirus guidelines. So he says new data, cdc, other guidance will come on county by county basis. That may suggest decreasing or increasing social distancing depending where people are, where they live. Remember the house of representatives is expected to vote on the Senate Stimulus package tomorrow, maybe tomorrow morning. Speaker nancy pelosi says earlier they will have a voice vote on the floor that would pass the bill. So is the house going to sync up with the senate . I want to bring in republican congressman mark green from tennessee. Congressman, thanks for being here. Thanks tore having me here, cheryl. I hope charles is okay. Cheryl he is fine. He is great. He is trading stocks. Lets talk about tennessee real quick. How are the folks in tennessee doing . Everybody back home is doing just fine. We have a few cases. We have a few positives, unfortunately we have had a death or two. For the most part everybody is following rules and doing their social distancing. Most folks are ready to get back to work. Very eager to get back to work. When the president suggested easter there were a lot of happy folks. Tennessee is a pretty resilient state. You take after the tornadoes, 1500 people showed up to help with cleanup. They didnt have room for them. They had to send them home. When this happened, Dollar General immediately announced they would do senioronly hours. From certain points during the day, only those 60 and older can come to the store. A lot of great people down there. Cheryl let me ask you this the president just sent a letter to all the governors. A lot of talk depend where we are whether we need to be on lockdown or maybe do the honor system and truss that americans in specific counties that are not hit hard about it virus, dont have any cases can go about back to business somewhat . What do you make of that thought process . We have a big country and obviously new york is at a different place in the curve than we are in tennessee. We have to do certain actions where we are in the curve and they have to do certain actions where they are in the curve and i think that is prudent and as we get more data on this virus we can get granular the way we take the virus on. As data and curves come in we can make better decisions. Cheryl talk about tomorrow for you and your colleagues in the house. Yes. Cheryl nancy pelosi, like it will be a voice vote. Is that what youre still hearing tomorrow morning . That is what im hearing. You know, we want to be careful too, we want to lead by example with the whole social distancing thing. The voice vote would keep us from putting 435 people in one room. Cheryl Senate Republicans had a lot of concerns about extension of Unemployment Benefits but not so much extension but increase, 600 a week for four months. That is a bone of contention. At some point well have to talk about the federal deficit. We have to already talk about it but we have to get through this. Is there anything in the senate bill that really bothers you . There is a ton of stuff that bothers me in the bill but like any negotiation sometimes there is a little bit of bad with the good in order to get with the good. Were going through it. My team is going through it. The examples are, im sure the Kennedy Center is a great place to go, but 25 million to the Kennedy Center during the crone Virus Outbreak while american lives are lost is ridiculous. 75 million to npr, public broadcasting, ridiculous. 75 million for the endowment to the arts absolutely ridiculous. Cheryl but it is in there. Yeah. Cheryl the Kennedy Center thing i agree with you. The president said ive never been, i am pretty busy, i like it enough. Even he is trying to be diplomatic about it. But what financial cost eventually, you know . It keeps adding up, no doubt about it. Our debt is enormous but this is absolutely a crisis. We have ground the economy to a halt. We have a sear ruts cash flow issue for Small Businesses. They have got to get the help or it will be much worse downstream. Cheryl congressman green, thanks for being here. Well watch you tomorrow along with all of your colleagues with bated breath and our best to the folks in tennessee. Congressman, thank you. Thank you. Cheryl lets get to the markets right now. The dow and s p on track for a third day, im afraid to say it, it might change the next hour and 15 minutes, we could have three days in a row. We havent seen this since early february. Is there optimism out there . Well talk about it. Well have what you need to know going into the final hour of trading. One hour 15 minutes until possibly three days of gains. Well be right back. Ty, we find a way through it. Its about taking care of each other. Its the small parts that make a big difference. At chevy, we promise to do ours. Were offering chevy owners complimentary onstar crisis assist services and wifi data. If you need a new chevy, interestfree financing for 84 months with deferred payments for 120 days on many of our most popular models. You may even shop online and take delivery at home. Its just our way of doing our part. 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 ] and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Cheryl im trying not to jinx this, i really am but im going to repeat myself. Stocks are up for the third day in a row. Can we hold on to these gains as we go into the final hour of trading . We have Nicholas Wolf management, david nicholas. Hi, cheryl. Cheryl im trying to be measured about this, what kind of sign is this for you . Im right with you, cheryl. Love to see the this rise in the market we have to be sure we dont have false sense of security. Refreshing to come in with what possibly could be a third day. We have to look at oil at 25. Still could be issue for markets. When you look what is left, the market essentially discounting any other negative information coming forward. We have to can ourselves is the worst hype us . We pray it is. But i have a feeling numbers will get worse as we go into the coming weeks. While the rally is fantastic this, is great time to look into the portfolio, is this time to swap out to get good quality names but i just think there is still volatility to come. We need to be careful. Im cautiously optimistic going forward. Cheryl im not saying, look i agree with you, im not sitting here saying i dont think well have more volatility, more down days and it will be up and down process. Theyre already talking about another, a fourth phase of stimulus for the economy. This virus isnt going away. At the same time, a lot of our viewers i think are smart enough to know theyre in for the long term. A lot of talk from fed chairman powell this morning on the today show, he said, were probably in a recession that is the Federal Reserve chairman saying that to america, offthecuff. At the same time he and former fed chair ben bernanke said the second half of the year will be good. This is not financial event. It is a medical event. It is like a virus. Bernanke compared it to a snowstorm. I think what the markets are looking for. There are really two things, Monetary Policy which we already have. We have unlimited supply of none terri policy. Fiscal side we should wrap up this week and third piece can we contain the virus. Obviously were not there yet, i think two out of the three, markets are essentially saying two out of three that is enough to provide some support to this market so well see but as investors we have to understand we may see more volatility in the coming beeks but i do think weeks, but i do think, hey, were in much better situation than we were a week ago. Im encouraged by that. I also think this is a great time to sit down to reassess your risk. With a name like boeing up 70 . Chevron up 30 . These are massive moves this week. There are still Quality Companies out there. Charles and i talked a lot about that last week. There are a lot of Great Companies out there and it is not their fault. Ceos are giving trying to help americans, helping Small Business, keeping employees on the payroll, many are working from home but at the same time, apple, microsoft, mcdonalds these are Companies Investors are not necessarily negative on. Theyre negative on the virus. How do you reconcile those two things . Yeah and i think for investors this is really a first. So i think some of these big scale moves that were seeing is really were trying to figure out you know, what does that exactly mean . In traditional sense, if you woke up with a day of 3 million unemployment claims you would see a market rallying 1000 points you say what world did i wake up to . Wall street is trying to balance these things. Im optimistic. Cheryl were trying, david. Thanks so we are just getting some headlines in. The new york stock exchange, the president was just speaking a few moments ago about how investors are actually handling the coronaVirus Outbreak and especially how trading and operations are going there. Remember, floor traders, physical floor traders for the first time ever, the market is open electronically but theres no traders on the floor, she described the current electronic trading for them so far as quite smooth. She does, though, warn that individual investors should not try and trade the market. She says shes confident we will get through the other side but shes saying look, operations so far electronically are going pretty smooth. This after fox business reported that Morgan Stanley was having issues with its Etrading Software and that the Trading Platform was down for six hours yesterday. But we are working through our issues, arent we . The coronaVirus Outbreak spreading to amazon warehouses across the country. Why the giant retailer, what they are doing to keep workers and deliveries safe. Thats next. Rice weve helped our investors stay confident for over 80 years. Call us or your advisor. T. Rowe price. Invest with confidence. Lets be honest. Quitting smoking is hard. Like, quitting every monday hard. Quitting feels so big. So try making it smaller, and youll be surprised at how easily starting small can lead to something big. Start stopping with nicorette. 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[announcer] if youve bought gold in the past, or would like to learn more about why physical gold should be an important part of your portfolio, pick up the phone and call to receive the complete guide to buying gold, which will provide you important, neverseenbefore facts and information you should know about making gold, silver, and platinum purchases. Pick up the phone and call americas gold authority, u. S. Money reserve. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u. S. Money reserve is one of the most dependable gold distributors in america. Cheryl the coronaVirus Outbreak has spread to at least 11 amazon warehouses as workers race to deliver massive volumes of packages for consumers. They are leery of leaving their homes to shop. Susan li has that story. Susan 11 facilities across nine states. Thats right. We just had the first confirmed case in new jersey this morning, edison, new jersey. We are looking at new york, california is part of it, also kentucky, florida, texas, oklahoma, michigan as well. You can bring up just the map. Now, only one facility has been confirmed shut, the one in queens, new york, where the first confirmed case was announced among any Amazon Fulfillment Center workers in the u. S. There are reports the Fulfillment Center in kentucky might be closed indefinitely but we havent confirmed that just yet. In a statement to us, we spoke to amazon, they say we are supporting the individuals, following the guidelines from local officials and are taking extreme measures to ensure the safety of all employees at our sites. When i asked further about whether or not the employees wear gloves in handling these packages, they pointed me to their safety guidelines during this coronavirus age and amazon said employees are required to wash their hands with soap and water or with hand sanitizer. Dont forget, right now this is a boom time for amazon. They are looking to add more head count to their warehousing and delivery, looking to hire 100,000 more, paying 2 extra per hour on top of the 15 minimum wage, then you get two times that in overtime pay. So you know, we were talking to the experts about how you should be handling your amazon packages. They say try to wear gloves. If not, maybe let it sut oit our a day or you should be safe because they have been in transit for a day or two or maybe a few weeks. Cheryl i heard you make that point earlier with neil. Thats a really good piece of advice. They have been on trucks for two days and the risk is low. Good to know because we are definitely using amazon. Susan, thank you so much. We are looking at a market right now that is trying its best to go higher. Hey, were now above 1,000 points. Ive got to say, intraday we are actually out of bear market territory. More coming up. That is it for making money. The claman countdown starts right now. Cheryl im Cheryl Casone in for liz claman. Liz is still at home under selfquarantine but she is working the phones, she is such a journalist, and she is going to be joining us live in just a moment with more on that stunning new use for reynolds hefty trash bags which is being used in the fight against coronavirus. Liz will have that for us. Take a look at the dow this hour. I always say this, it always