Transcripts For FBC Mornings With Maria Bartiromo 20240713

Nasdaq futures higher by 310 after even worse than expected jobs number led to selloff on friday. We showed you the numbers friday, dow, nasdaq and s p 500 in the red for the week. Take a look. Markets were down 2 overall on each of the major indices on the week. Oil prices this morning falling after the opec meeting which was to include russia was actually delayed. It was supposed to be a Virtual Meeting happening. It was scheduled to take place today. We are waiting on any news in terms of where the meeting stands with crude at 27. 40 a barrel. Later this Morning Energy secretary dan briet will join me and take on war between saudi arabia and russia. Uk Prime Minister Boris Johnson has been hospitalized due to coronavirus, we will get the latest on Prime Minister johnson coming up this morning. We are answering your financial questions this morning. Later what you need to know about your 401 k during this crisis. Mornings with maria is live right now. Maria lets check Global Markets here in europe. It is green across the board. Take a look, ftse 100 up 120 points. The dax index in germany higher by 431 points. Italy reporting lowers daily death toll in nearly 2 weeks. This being seen obviously as good news. Weve got more good news coming up. Marketing rallying in asia overnight as well. Shinzo abe to declare state of emergency for up to six months according to local media. The rest of the markets in asia up strongly up between 3 and 4 and a quarter percent. Let check Interest Rate this is morning. 10year treasury yield up today as you can see, we will look at the numbers here with the 10year up 7 and a third basis point. 666 on the 10year. Now the very latest on the coronavirus. New data this morning in the fight against covid19. Shining sunlight at the end of the tunnel. The white house using phrases like glimmers of hope and things are changing all day yesterday. Another sign of hope, more than 17,000 recoveries from the coronavirus here in the United States, but the white house is acknowledging we are still about to suffer through what is expected to be the very worse of the pan dem thick week. This is going to be the hardest and the saddest week of most americans lives quite frankly. This is going to be our pearl harbor moment, our 911 moment, only its not going to be localized, its going to be happening all over the country. Maria a chilling assessment from the Surgeon General. Meanwhile President Trump supporting the idea of a second task force focusing now on restarting the economy. Getting a group of people and we have to open our country. You know, i had an expression the cure cant be worse than the problem itself. We have to get our country open. Maria Moody Analytics reports says that the virus has stalled 30 to have economy since the start of march, certainly weve been seeing that in all of the numbers. New york meanwhile reporting its first decline in daily coronavirus deaths since the beginning of this pandemic. Governor andrew cuomo announcing yesterday that 594 new yorkers have died from the virus. Thats down from 630 deaths reported that happened on saturday, so the pace is going lower which is good. The governor also reporting a drop in intensive care admissions and said that the hospital discharge rate is way up. British Prime Minister Boris Johnson has been hospitalized ten days after testing positive for to covid19. Meanwhile Queen Elizabeth delivering miami of message of hope in rare televised address. She knows her country can come together to defeat the coronavirus. A tiger at the bronx zoo in new york city tested positive for the coronavirus over the weekend. This is 4yearold nadia. The tiger developing a dry cough and wheezing. Its believed shes the first animal to test positive and showing symptoms. The zoo says nadias sister and two others most likely have the virus as well but they have not been tested. They are expected to make a full recovery. Mayo clinic launching a test to detect who is immune to the virus. Researchers focusing on healthcare workers and those who can donate plasma. Other labs including Stanford University in race to find a cure. President Donald Trump Holding briefing last night on the Coronavirus Crisis touting federal help given both in healthcare field and the economy. Today every patriotic america heart beats no solidarity with the people in new york, new jersey and they have become hot zone and very good things are happening in new york the first time where the deaths were less from the previous day. My administration is rapidly implementing the largest emergency Economic Relief package in american history. Youve seen whats been happening. Billions of dollars in Small Business loans have been processed through paycheck protection program. Theres never been anything like this, but we see light at the end of the tunnel. Things are happening. Maria the Coronavirus Task force dr. Deborah birx highlighting and showed last night that most cases are concentrated in new york but 38 states have less than 50 cases per one hundred thousand. Joining the conversation Dagen Mcdowell and pwc partner Mitch Roschelle. Great to see everybody, thank you so much for joining us. Certainly it is welcome news to hear some of the positive glimmers of hope. I want to get your take on all of the above. Stephanie, let me kick it off with you in terms of what went on on friday with treasury clarifying affiliation roles. We saw a lot of banks now this morning entering the week with a little better understanding of the paycheck protection loan program. It was rocky when it was first implemented on friday because a lot of banks did not understand what the rules were. Yeah, this is so critical to getting us back on our feet here. Obviously theres the immediate need for money on the part of consumers and then theres the psychological overlay of the uncertainty of not knowing when the money is coming and whether its coming. So this is really crucial, you know, we cant afford to have any kind of blunders in the transition here and and getting money to businesses and and, you know, the unemployed who so desperately need it to get through this period. Maria so stephanie, you were so right on the credit market bubble that burst. Tell me where you see things today. We are looking at a little bit of bounce here but obviously the selloff has taken an enormous amount of value, what are we down in terms of the highs, 20 i believe it was a loss of in the double digits in terms of market value that we have seen last week alone. Yes, absolutely. I think its peak valuation. We have seen a pretty big haircut but as you said, you know, i think there are two phases to the cycle. Theres the Coronavirus Crisis and weve got to get that under control and then we can address the financial fallout of the Corporate Credit bubble bust and i think thats going to be phase 2. My expectation is that we will have a period in between those two phases where the market rallies big time because we have sigh of relief that we have gotten through the coronavirus situation and we have discovered that the stimulus has been enough and the economy is going to get back on its feet and all of a sudden we get hit by the 2 by 4 thats the fallout of the Corporate Credit bubble bust which unfortunately the way the fed is implementing its programs is not going to be resolved. I mean that will continue, you know, you the wall street journal with another area highlighted today of risk and that is the supply chain, you know, loans made for supply chain management. Theres a lot of whole springing that the dead needs to try to grapple with and i just think its beyond fixing at this point. Maria Mitch Roschelle, we are looking at a market thats poised to rally at the start of trading. The coronavirus pandemic, of course, sparking a sharp economic downturn in the past few weeks. The journal is reporting that roughly 1 quarter of the u. S. Economy has gone offline since the outbreak began. Former white house chief strategist steve bannon joined me on sunday morning futures, i want to get your reaction. If youre going shut it down and i will continue to harp on this, lets shut it down. 30 days to crash this bug and this requires no more air traffic of people into the United States, cargo can come but no more people flying into the United States, no domestic air travel. Its virtually shut down but lets shut it all down, even stop vehicular travel except interstate commerce in logistics in medical emergency. Also put all 50 states in uniform lockdown policy, maybe it uniform and make it as tough as possible because we are taking the 30 days off. Maria yeah, it certainly feels like we are in National Shutdown but i guess when you look at the pictures of georgia with people on the beaches obviously its not the case. So what do you guys think about that, mitch, dagen, jump in here. Mitch one of the things the president talked about and has been a lot of talk on social media is about starting another task force to figure out how to get the economy going. I had a lot of conversations with Business Owners last week. What does the restaurant look like if they have to continue with social distancing, what does office space look like if people have to sit far apart. I definitely think the planning needs to start right now on how to get businesses back, what the timing looks like, what the rules will be because we cant continue to be in the shutdown for projected period of time. Maria that was the issue on friday because one problem was that the Treasury Limited how the money can be allocated, how it can be used but now they open the door for private Equity Investments in restaurants, hotels and franchises, so the Small Business administration need today clarify how the money is used and now its opening this morning with a much more clearer road for these banks to understand. Dagen bank of america initially restricted who it would make loans to. You have to have credit relationship with the bank and changed the rules because of pressure in part because of Fox Business Network reporting to include people who had a relationship even just a checking, business Checking Account with the bank. One quick thing, very well known doctor texted me over the weekend and said President Trump needs to use a defense production act to mass produce the abbott lab detection test that takes just 5 minutes. Until we Start Testing a lot more people at the current rate its going to take till midjuly to test enough people to get americans back at work that the government should pay, say, a merck, pfizer, all of them a royalty to start producing test like wartime initiative. Get the tests, machines out, get the tests out and the only way that we would be be able to get back to work and right now we have a mess with the supply chain of personal protective gear, ppe, trying to go into the hospitals, the people on the front lines fighting this but we have to get the test machines made. Use the defense production act President Trump. Maria yeah, well, look, we are still having been able to pass on the kits. We will talk about who you china tried to corner the market on protective gear, things like masks and gloves. New data that shows exactly what china was buying at the end of january. Meanwhile look at the rally underway, s p up 91 and the nasdaq up 300. 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Com maria welcome back, futures indicating good rally at start of trading. Markets gaining traction as the coronavirus virus death toll in new york and other areas have shown slight decline. Glimmer of good news here. Health officials are still warning that the toughest days are still ahead meaning the next 2 weeks some wall street analysts saying stocks reach recent lows. Brandy, Income Portfolio and Jack Mcintyre. How are you allow caying capital these days in the middle of these days, first of all, how are you doing, all okay in your corner of the world, jack . Jack doing interview from home like youre supposed to. So theres no playbook and if anybody tells you they have a playbook in terms of investing they are pulling your leg, all making this up as we go along. Im thinking about things in terms of war going on between the virus that will get worse but we have mandate by policymakers that they are going to do whatever they can to make things better so today with the news that the virus, the rate of change, sort of has changed itself, so thats a positive, but, you know, we are not out of the woods yet but what we are doing, the biggest change weve made is to get amount of investment and the reason is because theres backstop, the fed is buying it or will buy it so thats the kind of markets that we want to be invested in right now because not much uncertainty. Maria follow the fed. The fed is buying treasuries as well. You want to follow what the fed is doing given the size . Exactly. Im not telling anything new. Another version of that. We have to see what happens with mortgages. Maria dagen. Dagen what are the problems in credit markets. Where would the fed where would the fed need to intervene . Thats a great question. One of the things, first of all, i agree, theres moral hazardous issue and you have the draw the line and companies that are incredible by dead should you make choices and decisions and they should not do that, we are going after very highquality names and i like them because theres component as well. Its another way to play sort of treasury duration as well and treasuries are selling rightfully so and this is not a major turning point for treasuries. Maria jack, are you surprised at where we are right now in terms of rates . Do you see any movement in terms of, for example, the 10year bouncing in a substantial way any time soon . What would it take . When i get the question i have to tell people whats more surprising 10year treasuries, hey, 30 basis points and 60 basis points now. You look to europe, you have negative rates. To me, that is much more surprising so in that environment if ive gotten negative actual rates, its not surprising and here, again, we will have treasuries and huge amount of debt yield really cant go significantly higher. Maria good point. Jack, great to get your insights this morning, thank you, sir, we will see you soon, stay safe, Jack Mcintyre joining us there. We will be right back. Stay with us. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. Our Retirement Plan with voya gives us confidence. So we can spend a bit today, 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. Actions to help prevent the spread of respiratory diseases. Wash your hands. Avoid close contact with people who are sick. Avoid touching your eyes, nose and mouth. Stay home when you are sick. Cover your cough or sneeze. Clean and disinfect frequently touched objects with household cleaning spray. For more information, visit cdc. Gov covid19. This message brought to you by the National Association of broadcasters and this station. Of broadcasters yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Maria welcome back, china hoarding masks. The white house reportedly considering legal action after my breaking news that china bought more than 2 billion masks, 25 million pieces of protective equipment before the Coronavirus Crisis had reached its peak. Watch this. Theres speculation that china was actually cornering the market back in december for protective gear, for things like masks, gloves, they make half of the worlds supply. Why are they buying half a billion in december . They knew and they knew it wasnt about the market. We know for a fact that they knew that there was a patient zero that this came from and most importantly because the taiwanese have told us, they know there was human to human transmission. On january 14th, the World Health Organization put out a tweet that said after consultation with the Senior Health ministers to have Chinese Communist party they had told them there was no human to human transmission. Maria so youve got the World Health Organization putting out that tweet saying that theres no human to human transmission and at the same time youve got china basically sending the largest delegation it has ever sent to davos, 350 people, that was at the end of january while down playing the virus, Dagen Mcdowell, at the same time they are down playing it, can you believe the numbers . The chinese bought 2. 02 billion masks, 25. 38 million of protective clothing and we have this from customs data from from china. The National Customs inspections and what they inspected. Why are they buying so much protective equipment when they already produce half of the capacity of all the masks in the world . Dagen it speaks to two things, one it talks it is that the outbreak in china was a great deal worse than they ever admit ted. They needed that level of protective gear, number 1. It starve it is rest of the world that is also trying to fight this virus. It starves them of the necessities that healthcare workers need. So its a onetwo punch. Its, again, lying about the what was going on within the country and trying to prevent other nations from basically survival. Maria and then you have jack mobb who is admitted communist member of the communist party, jack ma saying he will donate all of the masks. They look like they are helping the world after they corner the market months earlier, its actually extraordinary. Dagen it is. Maria let me ask you about this, jumping the gun, former Vice President joe biden tells the 2020 rival Bernie Sanders hes already gathering a committee to search for potential Vice President. Biden told abc this weekend that given his front runner status it made sense to begin the background checks. Watch this. I was apologizing to him by saying, bernie, i dont want in any way to demean your effort, but if we dont start now we are not going to be able to get there and he was very gracious and he understood. It wasnt about asking him for recommendations of he or i would pick for nominee for Vice President. It was about saying to him, bernie, i feel somewhat foolish since its likely im the overwhelmingly likelihood to get nomination, that, in fact, its not officially done yet. Maria we will see who he chose there is but i think increasingly it is looking like this election is also going to be about china. Its not just going to be about the coronavirus and the president s leadership here. Its going to be about china. Who will be able to be tough on what has clearly become obvious that china is not our friend, dagen. Joe biden with those conflict that is we talked about over and over again with his son getting 1 and a half billion dollars from the Chinese Government. People will remember things like that going into this election. In my view china will be the most important topics. Dagen didnt Vice President biden refer to president as xenophobe because of chance against china as the virus was breaking out . Weve made mistakes along the way. The United States in early february, february the seventh sent 17 tons of ppe, personal protective equipment to china, so we were trying to be a good citizen of the world and and help that nation, but what happened in return, we gotten lies and, again, a hoarding of the equipment that other nations need right now. Maria i think its actually extraordinary that they bought 2 Million Masks between january 24th and february 24th. I mean, this story has to start getting out there because its important to recognize who is on the other side of this table, who it is that the u. S. Is dealing with. Its a critical week for the United States, we are on lockdown mode. The coronavirus oh pandemic to peak, we were told by birx not to go to Grocery Stores. We have latest on the vaccines when we come back. 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Eliquis, the number one cardiologistprescribed blood thinner. Ask your doctor if eliquis is whats next for you. Woi felt completely helpless. Hed online. My entire career and business were in jeopardy. I called reputation defender. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. Maria welcome back, good monday morning, im maria bartiromo, monday april 6th, top stories right now 6 33 a. M. On the east coast. There are some glimmers of hope this morning when it comes to the coronavirus pandemic sparking markets to rally across the globe. Futures indicating strong gains as we kick off the week this morning, dow industrials up and nasdaq higher by 293 after worst than expected jobs number on friday led to pretty good selloff on friday leaving the now, nasdaq and s p 50 down between 2 and and 4 on the week as you could see the dow industrials down almost 3 , the nasdaq down almost 2 and the s p down about 2 on the week last week. Oil prices are down this morning after the opec meeting which was to include russia was delayed. It was supposed to be a Virtual Meeting. It was supposed to schedule to take place today. The price of crude 27. 15, the president have spoken to the head of saudi arabia and hes expecting a production deal between those two players. Global markets this morning look like this. If europe it is green across the board. Uk Prime Minister Boris Johnson has been hospitalized ten days after testing positive for the coronavirus. Markets there as you can see are higher with the ftse 100 up 114 points. Cac request rant up 151 and dax by 114. Japans Prime Minister shinzo abe to declare state of emergency to japan for up to 6 months according to local media. Meanwhile this wells fargo capping participation in government Small Business rescue plan. Cheryl casone with more details plan kicking off on friday, cheryl. Cheryl it did, maria, good morning, wells fargo is limiting now its role in that plan to 10 billion. They are blaming regulatory constraints from the Federal Reserve following the series of scandals and 350 billiondollar loan program launched on friday provides Small Businesses with lowinterest loans for expenses as payroll, mortgages and utilities. Wells fargo says likely it reached 10 billiondollar limit given the number of applications its received and asked fed officials to lift asset cap but regulators are pretty cold on idea. Stock in the premarket up 4 . Well, american and United Airlines have temporarily suspended more flights in new york city area. Covid19 outbreak forcing the drastic cuts with demand dwindling only from jfk, laguardia there operate until may sixth, both of the stocks are higher from premarket. American just going flat. United up 1 and a half percent. Well, the state department putting a hold on all new passports. They are only issuing passports for life or death emergencies like a serious injury, death in immediate family. If you need to renew expedited is only available. Well, Rob Gronkowski a champion once again, claimed victory last night in wrestlemannia after leaping opponents and gronkowski signed contract after 9 seasons with the nfl, all with the pats, he won 3 super bowls. Countrys biggest stars came together to put on a virtual home from their homes. Cheryl keith urban last night kicked off the our country concert special. Aired in place of the academy of Country Music awards which were supposed to host in front of a live audience. That live event will take place now in september. Carrie underwood and brad paisley also performed. Those are your headlines. Maria i love that you cannot keep the American People down. All the concerts from peoples homes, its just its terrific to see how how unified the country has become on this issue. Thats great, cheryl, thank you. There are new tactics this morning against the coronavirus being spoken about. President trump weighing in yesterday on the idea of trying different and already established drugs to combat covid19. We dont have time to go and say, gee, lets take a couple of years and test it out and lets go and test with test tubes and laboratories. We dont have time. Id love to do that but we people dying today as we speak theres people dying. If it works, thatll be great, if it doesnt work we know for many years malaria, its incredible what its done for malaria. Its incredible what its done for lupus but it doesnt kill people. Maria manner joining us right now family physician jennifer caudle. What are your thoughts on hydroxychloroquine mixed with the zpac, antimalaria drug seems to have promise although its debate of producing enough of them to just make it available . Right, so, you know, this has been in the news for a little while and appropriately so as potential treatments for people that are sick with coronavirus. I first want to say that making assumption that is the drug combination or the drugs, what do we have to lose or what would be necessarily safe, those are dangerous assumptions because we just dont know that yet. I am cautiously optimistic and hopeful just like everyone else but i as physician also know that we dont know if the drugs will work in the setting and just because they are relatively, they are used in other conditions that doesnt mean that they wont have untowards consequences of covid19. We need to respect the medication and study them the best we can to understand really what the pros and the cons are. Maria so i spoke with the fda commissioner yesterday, dr. Steven hanh about uses plasma, hes working on a vaccine at the fda but even more important in the near term are the therapies potentially a bridge to a vaccine. I would love to get your reaction. How close are you in terms of finding the proper to get a shot, get immunity for 60 to 90 days so we can eventually open up the economy again even if its temporary . Youre habing about speaking about the hyperimmglobilin. We are doing as profolactic. Maria how about that dr. Caudle, profolactic. Taking plasma from the people who have recovered and the plasma will likely have antibodies and protections, we could then give it to other people who dont have the same protection and might help them fight off coronavirus. Thats the concept and technique that we have used in the past with other conditions over the years. I think that its a very promising concept. Promising idea as he mentioned we do need to study it but i do think i think its definitely an option that we need to be considering and i think we are. Maria tell us what youre expecting in the next 2 weeks, dr. Caudle . We are talking about positive developments here but we also know that the president called the next 2 weeks horrific, dr. Birx said that we should avoid going out to Grocery Stores and if you do make sure youre completely covered with masks and gloves. So my expectation is pretty much aligned with what we are being told by health care and our political officials. You know, based on the modeling and different models that we have been shown does seem around april 16 or somewhere give or take that we will see heightening of illness. Good thing is in the press conferences we are given trends to see whats happening on state level and on an individual level and while the cases are rising in many cases in our country, you know, in washington, for example, i think dr. Birx showed yellow line or flattening of curve. I do agree with dr. Birx and what the guidance that they are giving us which is at this point the mitigation is the best its really everything right now. That means social distancing, that means not going anywhere that you really, really dont have to go like the Grocery Store or to get prescriptions from the pharmacy to wear masks thats a new recommendation by the cdc that i agree the idea of wearing clothe masks to potentially curve asymptomatic spread. I agree and we need to be heeding it and do exactly what they are saying. Maria all right, we will leave it there, dr. Jennifer caudle, stay with us, we will come back with the panel on that subject. Back in a moment. Im not stupid. Having an annuity tells me that im protected. During turbulent times, consider protected Lifetime Income from an annuity as part of your Retirement Plan. This can help you cover your essential monthly expenses. Learn more at protectedincome. Org. Maria welcome back, so the cares act leaving the future of the Hospitality Industry hanging in the balance. We want to take a look at Payroll Protection Program because it is at the center of the stimulus package, the release package. Starts as loan that can be converted as a grant but for a business to get the full benefit the head count must be two months after the loan originated after the coronavirus pandemic. Christopher, christopher, great to have you on the program this morning, thank you so much for being here. Great to be here, maria, thank you. Maria you you have really shifted your business, pivoted from your core business of supplying the top 40,000 restaurants in america which now are mostly closed to creating a Home Delivery business to keep as many as 3,000 employees working which is terrific, but you have also noted that there are holes in the care act, the cares act which basically eliminates the opportunity for the Restaurant Industry to actually get the money it needs. Can you explain that to us . Sure, maria. So i think it was brilliant that they acted quickly, the government realized the restaurant, second largest employer in the country, 500 billion food away from home and what they passed was great but its not big enough. Its going to have to be much, much bigger especially for the culinary world in, say, san francisco, la, new york, miami where rents are high, overhead is high and restaurants were already on thin margin so its going to have to be extended for months or a year, restaurants cant take on more debt and moving target on when this date is, nobody really understands when restaurants will be back to full occupancy, they cant take the chance to take a loan and have more debt. It has to be it has to be a grant and its going to have to be very long term. Maria because any money that a restaurant spends on nonpayroll expenses which could be by the way paying a vendor, that converts to a loan of a 2year majority, servicing debt will overwhelm cash flow generation . Yeah. When you say see the way 25 to rent and facilities, when you look at new york city, its not enough money. They have to relook at it and move the goal post and give them time to get back on their feet. The country needs the restaurants. We love our restaurants and all the people that they employ and the government will have to look at food service. A company like ours that employ thousands of people, the industry employs over a Million People, the food supply and we have to give credit at once restaurants are opening up again and we need to be healthy, so i think theres a lot of work to do. Theyve gone big and they will have to go bigger. Maria so specifically what do you want to see, christopher, real quick in terms of a change to this plan so that we dont see an enormous number of restaurants go out of business when we come out of this . Well, i think they have to move to goal post to when the economy is open and when restaurants are fully opened and they can get back to accommodating as many people as they did before. We dont know what its going to look like, tables will have to be 6 feet apart. They wont be able to hire all employees immediately. Its a longterm goal to be able to hire all of the people and they need to look at people like ourselves guaranty our receivables, okay, through the banks and we have plenty of money, we can open and we can hire back more people and right now we shifted to b to c and we are delivering to your home and retail and we are selling our customs steakhouse steaks. Maria yeah. Really incredible moment in time. Christopher, we would love to keep talking with you about it. Thank you very much for what youre doing. Christopher pappas joining us there. More mornings with maria after this. We will be right back yone else. For the past 168 years, weve also stood by you, helping you weather storms like this one, to protect your loved ones. And well do it for 168 more. Helping you weather storms 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 beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Maria welcome back. Apple is going all in in the fight against coronavirus, the Technology Giant is shipping custom masks within the United States. Watch this. The number of masks we have been able to source through our supply chain has risen to over 20 million around the world. We are closely coordinating with medical professionals and government officials across the u. S. To get these where they are needed most urgently. Maria the first shipment of face masks was distributed to hospitals in silicon valley, apple to send out a Million Masks this week and one million per week after that. Nice to see companies coming together to to get to this goal, Mitch Roschelle, your reaction to this. Reported earlier that we are still in short supply of masks because china cornered the market for masks in january even though china produces half of all the worlds capacity. It bought 2. 02 billion masks january 24th. Mitch yeah, i am curious, maria, in those numbers, how many of them are being sourced from china and what the quid pro quo may be with the apple supply chain there. But i think right now the company is doing good in helping our society, its really, really important and we are seeing that more. I dont think its pr and i think its genuinely good Corporate Citizenship and its nice to see. Maria so our producer has reached out to former pharmaceutical ceo martin shekreli, interesting findings that he had. He told our producer eric, he said that his top result is a drug thats already fda approved to leprocy and since it was approved if it works it can be immediately available for human use. Dagen, your reaction to Martin Shkreli this prison thinking about coronavirus and coming up with his own ideas in terms of finding a cure . Dagen lets lever it to medical doctors who arent behind bars and i will leave it to gilead and remdesivir. Maria we will be right back. More right here as we work to get through these times together,. But blood is needed to save the lives of people who are sick with a range of illnesses. Its easy and safe to give. If you are in good health, please donate. We need heroes now. Visit red cross blood dot org to schedule an appointment. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Maria good monday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is monday, april 6th. Your top stories right now, 7 0. Markets are rallying across the globe. President trump expressing hope after a decline in the number of daily coronavirus deaths in new york. Also signaled support for another round of money sent to directly to americans. Meanwhile, new treatments are showing promise. The white house is asking people to avoid Grocery Stores and pharmacies though this week because there are still rough times in the next two weeks coming up. Markets are pointing to a strong rally to kick off the week on the heels of the optimism coming from President Trump and Governor Cuomo on the decline in the number of deaths in new york. The Dow Jones Futures up 767 points right now, s p futures up 91, nasdaq futures higher by 288. This after an even worse than expected jobs number led to a selloff on friday, leaving the dow, nasdaq and s p 500 in the red for the week as you can see, down across the board. Oil prices are falling after the opec meeting which was included which was to include russia was delayed. It is scheduled to take place today. We are expecting a deal between the saudis and the russians after President Trump said that hes expecting a Production Cut. In about half an hour, Energy Secretary dan breette will join me. Dont miss this morning interview coming up. Jamie dimon announcing Jp Morgan Chase is taking action to help customers, including waivers for late fees and 90 day grace period for mortgage and loan payments. Hes out with his annual letter. He wrote in the letter about the companys dividend saying that if it is suspended, it would be out of extreme prudence. So he does mention the potential of suspending the dividend at jp morgan. U. K. Prime minister Boris Johnson has been hospitalized due to the coronavirus. We are answering your financial questions later this morning, everything you need to know about your 401k during this crisis. Do send your questions in. And here is a look at naples, florida, where all public beaches are closed in the area, as well as the pier. It is a quiet shot. In georgia, beaches over the weekend opened by order of the governor with many people not practicing social distancing at all. Mornings with maria is live right now. Checking Global Markets this morning in europe it is green across the board, take a look. The fq100 up 117 points, cac in paris up 147 and dax index in germany up 406. Italy is reporting its lowest daily death toll in nearly two weeks. Markets rallied overnight in asia, meanwhile. Japans Prime Minister shinzo abe is ready to declare a state of emergency for up to six months. And in china, the shanghai composite, the market closed for a holiday today. The yield on the 10 year treasury looks like this. We are looking at a gain in the treasury, up to a level of 0. 656 . Now, the lat latest on the coronavirus. The white house is striking an optimistic tone as new data in the fight against the coronavirus gives americans a sense of hope. Things are happening. Things are happening. Were starting to see light at the end of the tunnel. And hopefully in the not too distant future well be very proud of the job we all did. You can never be happy when so many people are dying but were going to be very proud of the job we did to keep the death down to an absolute minimum, the least it could have happened with this terrible, terrible virus. Maria more than 17,000 recovers from the coronavirus in the United States but the white house is still warning the country that we are about to suffer through what is expected to be the worst of the pandemic. Remember, the president called this next two weeks horrific and dr. Birx said try to avoid Grocery Stores as well as drugstores. Meanwhile, President Trump supporting the idea of a second task force which focuses on restarting the economy. Getting a group of people and we have to open our country. You know, i had an expression the cure cant be worse than the problem itself. Weve got to get our country open. Maria a moodys analytics report said the virus stalled nearly 30 of our economy since the start of march. New york reporting its first decline in daily coronavirus deaths, meanwhile, since the start of the pandemic. Governor andrew cuomo yesterday announced that 594 new yorkers have died from the virus yesterday, but that was down from the number of people who died on saturday, 630 deaths reported on saturday. So that was seen as a glimmer of hope. Cuomo reported a decline in intensive care admissions and says that the hospital discharge rate is also way up. Another positive there as well. We are looking for any glimmers of hope, of course. British Prime Minister Boris Johnson is in the hospital this morning, 10 days after testing positive for covid19. A spokesperson said the move was precautionary and that johnson is still running the u. K. Queen elizabeth meanwhile delivering a message of hope yesterday in a rare televised address, the queen speaking from windsor castle, called for unity, adding she knows her country can come together to defeat the coronavirus. Nearly 5,000 people in the United Kingdom have died from covid19. Meanwhile, a tiger at the bronx zoo in new york city has tested positive for the coronavirus over the weekend. It is believed that 4yearold nadia caught the illness from her caretaker. The tiger is the first animal to test positive and to actually show symptoms. The zoo says nadias sister and two other tiger most likely also have the virus but they have not been tested. They are all expected to make a full recovery. A third passenger from an infected cruise ship docked in florida has died. 13 other people from the coral princess are hospitalized. Some of the more than 1,000 passengers have been able to take charter flights home. Others are now forced to stay onboard for another day. The cdc says they cannot take commercial flights. The ship has been docked for more than 24 hours. Helping the backbone of americas economy, meanwhile, it was the first weekend for the 350 billion Small Business loan Program Providing low interest loans, helping Small Businesses cover payroll, and other fixed costs as they weather the covid19 pandemic. Wells r farg fargo says it willp participation in the program at 10 billion due to regulatory constraints. Bank of america said it will expand the list of customers eligible for the loans. Joining me right now is House Financial Services committee member, utah congressman, ben mcadams. Thanks very much for joining us. Appreciate your time this morning. Good morning, maria. Great to be with you. Maria many of the banks have reported that they were unclear in terms of what the rules were, who they could be lending the money to, how they should bal locating the money. Could you talk to us about that and whether or not this is all cleared up right now. We had one restaurant owner, Christopher Pa papas on, who sad restaurants will go out of business and wont be able to make it out of this because they cant access the program. Thats been a huge concern. I heard from a lot of Small Businesses in here in utah that there were a few things in the regulations that made it uncertain to the banks as to what they would do, what they would be able to do, what liabilities would be resting upon the banks and so fortunately i think treasury acted quickly to resolve many of those concerns but i think theres still some questions out there and then the other thing we know that is the demand is so high. Theres so many businesses that are just suffering such hardship right now, they really need these funds and so it may be appropriate to get our Heads Together with the president , the congress again and look at infusing more into the funds that are going to keep people employed, keep our jobs around and help the economy really bounce back. Maria well, we did get clarification on private Equity Investments and how private equity can invest now in hotels, restaurants, franchises with private equity stakes that are exempt from the sba affiliation rules. That means private Equity Investments should not preclude them from being eligible for these loans but we still are unclear about the restaurant part of this because we just had Christopher Papas on from chef, the chefs warehouse, and he said that these restaurants cannot take on a loan because its going to eat away at any cash flow that they have left. Yeah, i think that that is a concern to the businesses, what these loans mean to them in the long term. Many of these loans will be forgiveable if theyre able to keep these jobs, keep people employed, then the expectation is that these loans would be forgiveable and would not eat into their cash flow. But i think thats part of the uncertainty that has people wondering, has the businesses wondering if this loan is something that will be viable for their business and has banks wondering about the viability of loaning to one of their customers and so we are just a couple days into this but i would say the rollout has been a little bit rough for the businesses who were hoping for this relief and really are desperate to get it so they can keep their doors open, the lights on, and continue to employ the hardworking americans that are the backbone of our economy. Maria yeah, i mean, i understand the issue here that the president and the treasury is forcing funds to be used to retain payroll. So you give this money to the Small Business so they keep their employees there if they want loan forgiveness but does that eliminate the ability of a Small Business to bank the funding . Yes, it does. You cant bank the funding so they can pay the rent and keep the lights on in case the crisis goes more than two months. Does that increase the risk longer term that youre going to have businesses go out of business . You know, i think that is exactly what we are evaluating right now as this rollout has moved forward and the banks are looking to make these loans and from everything im hearing, these loans are almost oversubscribed. You have a lot of businesses that are reaching out, applying for this loan. If they are ultimately forgiven, if they are able to keep employees and the loan is forebegin and the economy does bounce back, then that cash flow problem to the Small Businesses would be eliminated. But thats a lot of the uncertainty right now thats causing a lot of Small Businesses to wring their hands and worry about the future and i know were all worried about the future so as this Program Moves forward and if there is in fact a round four of a stabilization package, a cares two that theyre calling it, these are some of the issues we would look to address, retroactively to cares one and if we continue this program in a cares two package. Maria congressman, let me ask you about covid19. You had covid19. How are you feeling today . First of all. You know, thank you. Im feeling much, much better. Im still a little weak so i may be 90, 95 . I had a pretty bad case. I was down for about 16 days. I spent eight days in the hospital and it hit me really hard but im doing so much better right now. Thank you. Maria i want to ask you if youre willing to participate in the plasma study but first tell us what were your symptoms. So it started off pretty mild, just a cough, a little bit of elevated temperature, achy and i asked about getting a test. My doctor said my symptoms didnt really warrant it but i should monitor my symptoms if they got worse and they would do a test. About three to four days later i felt it move into my lungs and i was having difficulty breathing, i felt i had a belt wrapped around my chest that prohibited me from taking deep breaths. My fever spiked to 103 degrees. And i called my doctor again and he said i should get tested and so i did and it came back positive. It was a few days later that it got worse. My breathing was so labored. I couldnt walk across the room without having to sit down and rest, feeling i was panting, feeling like i just ran a mile and so at that point i checked into the hospital and spent eight nights in the hospital recovering from this and being monitored and had some really kind of rough days there but ultimately i suppose developed the antibodies and was able to get out of the hospital. Maria thank god. Thank god, congressman. So what was it that you took to cure you and are you willing to participate in this plasma study which would use those antibodies that youve developed to battle the illness for others. Im absolutely willing to do anything including participate in the plasma study to help. If it helps saves lives, if it helps to grow our body of understanding about this virus, how it works, what we can do to what therapies are available to lessen the impact, im eager to do whatever. I was in the hospital for as i mentioned for eight days. While i was in the hospital i did take the hydrochloroquine for about five of those days and i guess i dont know to say whether it helped or didnt. I think we should try everything we can to develop those therapies that are going to help people bounce back. I took the hydrochloroquine for five days. I still felt pretty awful in those days. Maybe it stopped me from getting worse. Maybe it shortened how long i was sick. Ill leave that to the scientists to determine. I was glad and happy to do anything to contribute to the learning and knowledge about how were going to treat this. Maria was that the hydroxychloroquine with the zpack together . Were there any side effects, congressman, real quick . It was just alone without the zpack. Im not aware of any side effects. Like i said, i took it for five days. I dont know whether it helped or not. Im not saying it didnt. I just know that i was sick for about eight days and ultimately got better. So im going to leave it up to the doctors and scientists to say within the whole body of knowledge whether it works, whether not taking the zpack, maybe that was a factor in my treatment and what that means. I think i leave that up to the doctors to decide. Maria that is terrific. And real quick before you go, were you told that now youre immune to getting it again, congressman . Im told that we really dont know but they say im probably immune at least for a three to six month period. Beyond that, i think were going to have to theres still so much were learning. Maria congressman, thank god youre okay. Good to see you, sir. Well see you soon. You too. Thank you. Maria thanks for the info. Well be right back. Maria crime amid coronavirus, commercial burglaries are up 75 in new york city since mayor de blasio declared a state of emergency. This comes after the nypd announced crime overall is up 12 in 2020. We were expecting that, given the bail reform law. I spoke with former new york city mayor Rudy Giuliani yesterday on sunday morning futures. He railed against the dangers of the new York Bail Reform policies. We were railing against the rail reform law terrible, terrible. I think its the whackiest thing ive ever heard. Just think about it. The prisons are overwhelmed with covid19. We tell people stay home because there may be covid19 in your home and you dont want to bring it outside. And were letting the prisoners out so they can bring that covid19 thats rampant in the prison, they can bring it to us. Maria yeah, and this is something weve been discussing for a couple of years now, dagen, in terms of this bail reform law which allowed all of these criminals back on the street because they dont have to pay bail. Its only gotten worse with covid19 because now coronavirus is ripping through the prison systems, dagen, and my source at the das office told me that they are looking every day at various requests from people to be let out. They want to be let out. Theyre afraid theyre going to get coronavirus and thats what theyre doing. So more of the same. Dagen this is anecdotal but Walking Around my neighborhood, walking the dogs over the weekend, car after car theyve had their windows busted out. Whether the cars were actually robbed or not remains to be seen. Could be just vandalism. But ive posted photos of three different automobiles that had their drivers side window busted out by somebody. So this is going on at night. You cant its pretty frightening to be out in the streets of new york at night, trying to walk your dog before you go to bed because there are people riding around on bicycles menacing people, just for the fun of it. Its a very scary scene here in new york, quite frankly. I know thats anecdotal. Ive lived here 25 years and its it gives me pause, certainly. Maria i think the coronavirus really changed things for Governor Cuomo but when he came on my show about a month ago, he told me that he was going to be making a decision about changing the bail reform by april 1st. He told me he was going to do that by april 1st so i will be reaching out this week to find out what changes he is expecting to make, given that deadline has come and passed. But of course, hes been leading very well with the coronavirus so hes got other bigger fish to fry, i guess. Stocks are staging a rally this morning, kicking off a strong week amid easing virus fears. We will tell you why. We have the breaking News Analysis all morning long with the dow industrials up 750 points. Back in a moment. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Thats why lincoln offers you the ability to purchase a new vehicle remotely with participating dealers. An effortless transactionall without leaving the comfort and safetyof your home. Thats the power of sanctuary. And for a little extra help, receive 0 apr financing and defer your first payment up to 120 days on the purchase of a new lincoln. And a few practical waysith you your family can stay healthy. And defer your first payment up to 120 days first, hand washing is essential. Children should wash their hands after coming in from outside, before eating, after coughing, sneezing or blowing their little noses. Second, limit all crowds and explain that no one is shaking hands or hugging because that is how germs can spread. What changes need to be made now, i encourage parents to let children know this will not last forever. I urge you to stay connected to family and loved ones, stay safe and remember while many of us are apart, we are all in this together. Please be sure to follow cdc guidelines which can be found at coronavirus. Gov along with other information and resources. 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. Futures are indicating a pretty good rally at the start of trading this morning. Dow futures up 750 points amid easing coronavirus fears this morning. The death toll in new york and other areas have shown a slight decline. But Health Officials are still warning that the toughest days are ahead. In fact, the next two weeks will be horrific said the president. Some wall street analysts saying we could see stocks retest recent lows. Joining us now is the bonson group partner, managing founder, david bonson. Let me get your take on the backdrop. Ive got a Cornerstone Macro report in my hands and nancy lazar is expecting a sharp contraction in the Second Quarter. Gdp she says will come in a contraction of 25 in the Second Quarter. Shes expecting a contraction in the Third Quarter of 2 . By the Fourth Quarter she is expecting a little bit of a rebound. How do you see the backdrop right now . Do you agree with those numbers . And what does that mean for investing. I dont agree with nancys numbers. That doesnt mean shes wrong. That means like goldman, morgan, ubs and the macro strategists like cornerstone theyre making the number up out of thin air because the variables are so wide and diverse theres no way to handicap right now what the number will end up being. The good news is, it doesnt matter. The market nos full well the Second Quarter gdp number will be terrible, negative 10, negative 20, negative 30. Its all the same thing for the stock market. Its a horrible Second Quarter number. The question for the stock market with that fully baked in, is the Third Quarter and the Fourth Quarter. The shape of the recovery, more vshaped, more ushaped or as we think in the bonson group its going to be a little bit of both. There will be some sectors that come back strong, some sectors that take more time. Maria wait a second. I dont know that you could say shes coming up with this numb r out of thin air. Shes coming up with it from a model she put together, expecting Consumer Spending to be down 30 , expecting cap expending to be down 35 , inventories to be down 1 point, shes expecting Government Spending to be up 8 . So shes got her models in terms of where she comes up with the 25 contraction. The wall street journal is reporting that more companies right now are suspending their stock buyback programs in order to save cash. Thats taking away another pillar of support for the struggling stock market amid coronavirus. Thats an important one, right . Most of those companies are in the hotel, energy, airline and Banking Sector but thats been a major support for this market, theyre buying back their stocks and now theyre suspending it. What bows the news that if jamie dimon says if things get extreme we would consider suspending our dividend at jp morgan. Theres three Different Things there. Nancys model, shes plugging into a model. The point is, the inputs into the model, how does one know how much Consumer Spending drops in the Second Quarter, when we dont know when the country will reopen. Parts of the country may reopen in two weeks, some might reopen in two months. As far as the stock buyback, there was Something Interesting in the wall street journal article. One of the biggest fallacies people say, the stock market has a pillar of support from buybacks. That own article pointed out the stock buybacks were 100 billion less in 2019 than 2018. Well, the stock market was down in 2008 an 2018 and it was up hn 2019. The pricing of the stock market is not related to the buyback level, its related to the overall profit level and multiple we put on the profits. What jamie said was really important about jp morgan, he was reaffirming if dividend, saying we would cut it if we had to but our own stress test and the own Balance Sheet strength is saying were not going to need to. He was defending jp morgans ability to continue paying that dividend. Maria yeah, just to be clear, the companies this is jamies annual letter and he said we assume the future will include, quote, unquote, a bad recession combined with some Financial Stress similar to the financial crisis of 2008. Dimon said it should be expected that earnings will be down meaningfully in 2020 and he said that under an extremely adverse scenario the board would likely consider suspending the dividend, david. Thats right. And so again, i read the fuller. What jamie is saying right now the dividend does not need to be cut with all the numbers they have and if the numbers were to get to a point, first of all, theyre regulated by the fed. Theyre not going to be allowed to pay the dividend if the Federal Reserve deemed they couldnt. Thats why they came up with the stress test model. For those who are asking Financial Companies to cut the dividend, theyre undermining the point of the stress test that the Prior Administration came up with. I dont believe jp morgan will need to cut the dividend. I do think plenty of other institutions will. At the end of the day, everyone has to speak to the same reality which is uncertainty. We dont know where some these things are going to go. What we do know, there are plenty of companies through conditions of the financial crisis were able to not only continue paying their difficult dent, continue growing their dividend, we would take that over stock buyback issues any day. Maria well, would you avoid the banks given these worries about the dividend right here . Are there any reasons to allocate money to stocks today in the face of this uncertainty, david, real quick. Yes, there is. Because of the uncertainty is why people that have the Risk Appetite and timeline for it should be allocating to stocks, gives them a better entry point. They have to be careful and prudent. We would not allocate to banks indieindiscriminately but we wod allocate to jp morgan. Maria thank you, sir. We will see you soon. Coming you, u. S. Energy secretary dan briette is with me, weighing in on the state of the Energy Market as saudi, russia tensions flair. Flare. Thats after this, back in a moment. Every step is clear, theres nothing to stop you from moving forward. 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. Once weekly trulicity is for type 2 diabetes. Its not insulin. It starts acting from the first dose. And it lowers risk of heart attack, stroke, or death in people with known Heart Disease or multiple risk factors. 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, severe stomach pain, changes in vision, or diabetic retinopathy. Serious side effects may include pancreatitis. Taking trulicity with sulfonylurea or insulin raises 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. Maria welcome back. Good monday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is monday, april 6th. Your top stories, 7 33 a. M. On the east coast. Glimmers of hope this morning when it comes to the coronavirus pandemic, that certainly has sparked a rally in markets today, futures indicating a gain of 768 points on the dow industrials this morning to kick off a new week on wall street, after a worse than expected jobs number led to a selloff on friday that left the dow, nasdaq and s p 500 in the red for the week, another tough week last week. We are going into an important twoweek period for the coronavirus. Oil prices are down this morning after the opec meeting was delayed. It had been scheduled to take place today, Virtual Meeting, 27. 68 a barrel on the price of crude oil right now. In moments from now, Energy Second Dan Brouillette is my special guest, he will join me with his take on the Oil Price War between saudi arabia and russia and its impact on the United States. Global markets are higher. European markets there is green across the board. U. K. Prime minister Boris Johnson was hospitalized 10 days after testing positive for the coronavirus. The fq100 is up 102 points, this is off of the highest levels of the morning, the cac in paris is up 238, dax index in germany is up 412. Markets rallied in asia. Japans Prime Minister shinzo abe is ready to declare a state of emergency for up to six months according to local media. Japan was up 4 and a quarter percent. The Intelligence Community watchdog speaks out, just days after being fired by President Trump. Cheryl casone with details there. Cheryl. Cheryl thats right, maria. Good morning again. In a letter yesterday, Michael Atkinson said he was, quote, disappointed and sad owne saddee president s decision. The watchdog alerted congress about President Trumps phone call with the leader of ukraine last summer. Atkinson was reportedly being investigated by republican members of the house intelligence committee. Texas congressman john ratcliffe, a member of the committee, spoke out about atkinsons testimony back in january in an interview with you on sunday morning futures. The house managers kept putting up charts, talking about 17 witnesses. But there were 18. The 18th was the Inspector General of the Intelligence Community, Michael Atkinson. He was the second witness interviewed on october 4th. I was there. It was the one transcript out of 18 that hasnt been released. Its a 179 page transcript. You can bet if that transcript was helpful to adam schiff and the democrats and harmful to President Trump, everyone would have seen it by now. Cheryl well, atkinson said that he stand by his decision. All right. Big news coming on Jp Morgan Chase. They are stepping up to help customers hit by the coronavirus. Jamie dimon says the bank is going to drop late fees and extend a 90 day grace period on mortgage and auto loan payments. Dimon in his annual shareholder letter added that some of the banks call centers have been forced to close due to local restrictions. Dimon said jp morgan is not going to seeing regulatory relief from the covid19 pandemic. Jp morgans stock up more than 4 in the premarket. Well, boeing has extended a temporary production shutdown in the seattle area until further notice, because of the coronavirus. Company stopped work at the plant last month, at the time just for two weeks. Boeing says the health and safety of employees, families and the community is shared priority. Boeings stock up almost 3 andahalf percent in the premarket. Well, new hope this morning for people battling the coronavirus. Gilead sciences may have a possible treatment. The antiviral drug remdesivir. More than 1700 patients have taken the drug in emergency use capacity. Remdesivir is an experimental drug to treat ebola. Gilead plans to have a million doses of it by the end of the year. Here is your tiger king report of the day. Fans of the Netflix Series in for a big treat. An eighth episode is reportedly set to be released this week. The former Business Partner of joe exotic announced it in a clip. Netflix has not confirmed the episode, though. Tiger king has become a must see since the premier last month and maria, yes, i finally watched it. All i will say, people are crazy. Back to you. [ laughter ] maria thats some tease, cheryl. Thank you. Cheryl casone there. Oil prices meanwhile are down this morning after the opec meeting which was to include russia was delayed. It had been scheduled to take place today, a Virtual Meeting. The price of oil, 27. 77 a barrel on the heels of President Trump saying he could impose very substantial tariffs on oil imports. Joining me right now is the Energy Secretary, Dan Brouillette. Its great to have you this morning. Thanks so much for being here. Thanks for having me, maria. Maria first, do you know what went on with the opec meeting today . We were expecting we would see a meeting virtually but obviously is not happening or its delayed. Do you know the status of that today . Sure, maria. I think what theyre going to do is meet later in the week. Were not parties to the opec conversation, if you will, not in a direct way. But our understanding in conversations with both minister in saudi arabia and the minister in russia is theyre going to get together later this week and hopefully end this disagreement that started perhaps two or three weeks ago in the last opec meeting. Maria so what is the disagreement about . The president has said that he has spoken with mbs, the crown prince of saudi arabia who he expected would agree to a Production Cut and russia would agree to a Production Cut of between 10 and 15 . Do you believe that is still happening . Yes, i do. I think what the disagreement is about is how to address the reduction in demand all across the world as a result of this pandemic. This covid19 pandemic. We are in america adjusting our markets but through a different methodology all together. As you know, maria, in the United States we have a free market and the industry will adjust on its own but for state run Enterprises Like what exists in saudi arabia and in russia, they have to make those decisions and as part of the opec they want to make it collectively. Maria you know, we have had such a successful shale industry. Ive been saying this for some time now, the last couple of weeks. It does not surprise me that russia would decide to pile on america right now while were in the middle of a crisis by saying were not going to agree to a Production Cut because the russians want to put out of business the shale industry in america, isnt that right . Thats right. Its a competitive market all around the world. I think thats what surprised some people here in the United States. Most particularly perhaps in the United States congress. They saw the actions that were taken a few weeks ago by saudi arabia and russia, to be somewhat predatory. As we addressed this pandemic, as other economies addressed this pandemic, i think most people would suggest that we need to focus on that, focus on the demand thats been destroyed as a result of that pandemic and then adjust accordingly but some saw the actions to increase production during this period as a direct attack on the u. S. Shale industry. Maria how many Shale Companies do you expect are not going to be able to make it . I mean, with oil at 27, weve got to believe that theyre not going to be able to get out of this. Thats a very difficult question because you have to analyze the cost structure of each one of those companies. Some have cost structures that allow them to be competitive at very low prices in the marketplace. Others have high debt burdens that will be a problem for them in the very near future. So its hard to tell individual companies what will happen but overall were seeing the rig count down in america but thats a usual and customary adjustment to a demand curve which we all know is lower than what it was just three months ago. Maria i mean, you look at texas getting hit hard from both the coronavirus pandemic as well as the oil shock, secretary. Tell me about that. How would you assess where we are right now in terms of the health of that industry . I think were still very strong. One of the beautiful things about this industry is that its been very innovative. Were looking at some of the finest entrepreneurs in the world. Over the last three or four, five years, the technology thats been deployed in the oilfields is just simply remarkable and its whats been the Success Story behind the Energy Industry for the last three or four decades. Weve gone from an importing nation to an exporting nation, solely, solely because of the innovation that this industry has brought to the marketplace. Maria so what kind of help might the federal government provide to these Energy Companies that have been doing exactly what youre saying, enjoying an incredible bullish period and yet now with oil where it is, its a different strain on their cash flow. Well, we looked at this week some of the tools that we have available to us in the u. S. Government. One of those is the Strategic Petroleum reserve and weve made available that storage to this figurparticular industry. What happens in the oil business, when youre producing oil you have to either use it or you have to store it. Because demand is down, storage becomes the only option. We have approximately 77 millioe Strategic Petroleum reserve and were making that available to the industry. Maria well, the president wanted to buy more but was pushed back by the democrats in that most recent relief bill. Do you think the president will at some point continue buying pushing for buying more oil for the Strategic Reserve . Yes, hes directed me not only to continue the program that we announced this week but also to look for additional storage capacities all throughout the country. Be they commercially or government available. Were going to do that. Under the u. S. Federal law we are authorized as part of the Strategic Petroleum reserve to reserve up to 1 billion barrels of oil. Were going to work with congress. Were going to continue the conversation on the hill and pursue this opportunity because its just a great opportunity for the taxpayer right at the moment. Oil prices being where they are, its a great time to filthies petroleum reserve. Maria i totally get that what about the president s willingness to implement tariffs on foreign oil . Should he go forward with that . Look, all options are on the table. The president made that very, very clear. As i talked about earlier, for those who would take a predatory advantage of the u. S. Market, the president will react accordingly. We hope to continue the conversation though all throughout the week, so as the opec meeting occurs, perhaps later this week, were also going to encourage the saudis to perhaps convene an Energy Minister towards the end of the week and i suspect thats going to happen late this week. Maria we will leave it there. Thanks very much for your time this morning. Thank you, maria. Maria good to see you, sir. Secretary Dan Brouillette. Well be right back. Boston light, americas oldest lighthouse, has stood strong through every dark hour and bright dawn our country has endured. It has seen the break in the clouds before anyone else. For the past 168 years, weve also stood by you, helping you weather storms like this one, to protect your loved ones. And well do it for 168 more. I often get asked what should i do helping you weather storms like this one, if i think i might have corona virus . People who are sick should stay home. You dont go to an emergency room. You dont go to a clinic. You get on the phone and you ask for advice and instructions from your physician. We dont want you to go into the e. R. Or the Doctors Office without talking to them first, because you might spread corona virus to someone else. Please visit coronavirus. Gov for more information. Maria welcome back. Gun groups are filing suit against los angeles mayor, eric garcetti. The groups are contending that the closing of gun stores violate the state constitution and state order allowing Critical Infrastructure businesses to remain open, despite the mayors safer at home order. Joining me right now is fox news senior judicial analyst, judge andrew napolitano. What is your take on the validity of this lawsuit . I think the lawsuit has a goods chance of prevailing for a couple of reasons. The center for disease controls puts out guidelines, theyre not mandatory. In the guidelines it has characterized gun shops as essential. In fact, in new jersey where the governor closed all gun shops and was sued before he even responded to the suited changed his mind when it was pointed out to him that the cdc, again just guidelines, says that the gun shops should be open. But more importantly is their constitutional argument. When Justice Scalia wrote the heller decision and just alito the mcdonald decision, these two Supreme Court opinions recognized the right to keep and bear arms is a fundamental liberty, mean its in the same category as speech and worship and travel and privacy. Its very, very difficult for the government to curtail it. In new jersey, the government im comparing one liberal state, new jersey, to another liberal state, california. The government has imposed very strict sanitary conditions about who can go in and who can touch the guns and what they have to do after the guns are tested but you can still go in there and still buy a gun. I think thats the way the courts are going to look at it in california. By the way, this is just long as less. This is not the rest of california. Maria mitch, jump in here. Mitch roschelle. The thing thats interesting to me is that the definition of whats essential is really going to be key to reopening businesses and is that something that the executive branch has sole discretion over or is there some of this does some of this require agencies to weigh in as well . I wish that is a terrific question. I wish that there could be more involvement as to what is essential and isnt. Now, i boarded my beloved dog, gina, at the vet out near my farm yesterday before i came back to new jersey and i said to them, her nails are a little long, can you drumel the nails down while shes boarding. They said nail drumeling is not essential. The governor issued orders that are that precise. I think there will be give and take coming all over this. Maria all right. Judge, great insights as always. Well see you soon. Judge andrew napolitano. Quick break. Well be right back. Its a challenging market. Edward jones is well aware of that. Which is why were ready to listen. And ready to help you find opportunity. So. Lets talk. Edward jones. Its time for investing to feel individual. These expect and way more. Internthats xfinity xfi. U get powerful wifi coverage that leaves no room behind with xfi pods. And now xfi advanced security is free with the xfi gateway, giving you an added layer of network protection, so every device thats connected is protected. Thats a 72 a year value. No one else offers this. Faster speed, coverage, and free advanced security at an unbeatable value with xfinity xfi. Can your internet do that . Maria welcome back. Airports across the country taking a big hit amid coronavirus. Airlines moving to cut flights and put planes in storage as the virus rages. Jeff flock is live this morning at chicagos Midway Airport with the very latest. Jeff, it has been a rough ride, thats for sure. Reporter thats absolutely right, maria. So many of our viewers fly all the time but havent flown in the last couple of weeks, probably. This is what it looks like, though, if youre at the airport, this is midway in chicago, six lines, no waiting to check in. If you look at the board, three quarters of the flights on this board canceled. I flew yesterday from philadelphia to chicago. Take a look at pictures from that, if you want to know what it looks like now. I was the agentth and last passenger on the plane yesterday. And take a look at what it looked like. Everybody had their own quadrant of the plane, no service really, no inflight magazines anymore, theyve taken those away for fear of spreading the coronavirus. Inside the terminals in philadelphia and chicago virtually empty. Almost all of the businesses closed with very few exceptions. Tsa lines, nobody in line. In terms of the numbers of Flights Canceled and the impact, tremendous. 8500 planes now believed to be in storage, out of action. Thats a third of the international fleet. 252 billion expected to be lost in revenue this year by international carriers. You know, most of them have less than three months of equity and right now the iata is predicting a ushaped recovery curve which is not the best in the world. I leave you with two positives. If youre booking flights for june and you want to go to costa rica from chicago, you can get the flight for less than 300. If you want to go roundtrip from new york to la, you can get a flight now on Spirit Airlines for 91. 16. Of course, no guarantee that there will be much to do if tau those flights in june but we can all be hopeful and maybe you can get a break. Maria jeff, thank you. Jeff flock in chicago. Well be right back. music maria welcome back. Good monday morning. Thanks so much for joining us. Im maria bartiromo. Monday, april 6 your top stories right now 58 a. M. On the east coast market rallying across the globe President Trump expressing hope after a decline in daily coronavirus deaths in new york. And he signaled support for another round of money sent directly to americans, new retaliates are showing promise we have all of those promising stories this morning certainly boosting markets futures strong rally start of trading to kick off dow futures up 750 points right now s p futures up 90 nasdaq futures hire by 2778 after worse than expected jobs number friday led to pretty good selloff dow, nasdaq s p 500 in red for the week all major indices down between 2 and 3 on week last week, oil prices are falling this morning after opec meeting was to include russia was delayed. We just hearded from Energy Secretary and he told us that he is expecting that meeting to happen later on in the week, Energy Secretary is expecting a deal to happen, where we see a Production Cut between 10 and 15 , according to Energy Secretary i spoke with moments ago, are jamie dimon announcing j. P. Morgan moring chase taking action to help consumers waivers for late fees 90 day grease period for mortgage, in that letter writes about dividend saying if it is suspended it would be out of extreme pursued events things were to turn much more negative board certainly would consider suspending the dividend, Boris Johnson has been hospitalized do you agree to coronavirus 10 days after learning that he had contracted it we are answering financial questions everything you he needed to know about 401 k courtesy of earth cam, closed due to virus quite a different look than typically. For this spot mornings with maria is live right now. Global markets this morning higher european incomes higher across the board heels of pretty good rally for futures in u. S. Ft 100 up 105 points cac quarante in paris up 142 dax index in germany higher by 433. Italy reporting lowest daily death toll nearly two weeks, markets rallying markets rallied in asia as well japan Prime Minister sin do so abe waiting to declare a state of emergency for up to six months according to media shanghai composite in china closed for holiday Interest Rates 10year treasury this morning is up, as you can see, the yield is now sitting at. 652 , 60 basis points up 6. 0 basis points right now. Latest on coronavirus, here is what we know, the white house striking an optimistic tone last night as new data in fight against coronavirus gives americans a sense of hope. Things are happening. Things are happening. We are starting to see light at the end of the tunneling. And he hopefully, and not too distant future we will be very proud of the job we all did. Can never be happy when so many people are dying. Maria more than 17,000 recoveries from coronavirus recoveries in United States, the white house is also warning country that we are about to suffer through what is expected to be the worst of the pandemic dr. Deborah birx urging americans avoid o Grocery Stores pharmacies next two weeks to help flat 10 curve of the coronavirus. New york is reporting first decline in the l. A. Coronavirus deaths since beginning of pandemic gd andrew cuomo announced yesterday 594 new york city died virus yesterday down from deaths reported on saturday a decline in about me of care missions. Boris johnson is in the hospital this morning, 10 days after testing positive for covid19, spokesperson in uk says move was precautionary johnson is running the uk. Queen elizabeth delivering a message of hope in a tell televised address called for unity adding she knows her country can come together, to defeat the coronavirus. And then a tiger at bronx zhu new york city tested positive for coronavirus over weekend tiger developed a dry cough wheezing believed got virus from caretaker the first animal to test positive show symptoms. Cva two new drive through coronavirus testing locations in georgia and rhode island to perform up to 1,000 tests a day using abbott labs rapidly covered 19 tests available to all who meet guidelines customers must you prequalify preregister for tests. The first week end of the federal government Small Business loan program edward lanes are live in washington with update, edward. Reporter . Yeah, maria this is the first of the direct money from federal government to help stain the economy by flowing directly into Small Businesses way want to say slow, it is slow, this weekend big numbers in a short amount of time take a look at this, 1750 loans, have been processed so far talking about more than 10000 Bank Branches money paid out you 5. Billion dollars this is part of 350 billion dollars used in m Payroll Protection Program they call cares act, in this lifeline to Small Businesses loans forgiven if businesses hold line on layoffs and average monthly payroll does not fall by more than 25 senior treasury official tells me the program has been running relatively smoothly led mostly bys sxhaurl Community Banks says, all big banks are expected to fully come on line today bank on friday was helping existing customers that only had their credit card wells fargo j. P. Chase taking application but not completing those loans, the president still pumping the program. It is all about employment all about jobs want you to keep jour jobs give Small Business funding to keep the workers, on the payroll. Goal to keep those workers to keep the economy going, to make sure Small Business do not lay folks off on those direct payments to americans Going Forward those direct checks are expected to still be start deposited on april 17 this week irs putting on web site a link for you to verify your income then if you changed direct deposit information relationship with bank you can change that information, on the web site this week with irs, back to you. Maria all right edward thank you you had ward lawrence with the latest there joining me foster freeze to talk about backdrop thanks so much for being here. I will get up any day 45 to have time with you maria just call me. Maria you are a doll thank you so much im sorry you got up so herl let me get your take what happened this terms of Small Business package, because there are a lot of banks that say look we dont understand the rules we are not going to lend out money because we dont understand, where we can lend where we cant lend just got clarity on p e Investments Private Equity Investments which opened the door for private equity to invest in things like Restaurants Hotels franchises and they need that money, overall the problem is that treasury limiting how funds can be used, limits the programs benefit. What do you know about this what do you think Small Business needs right now . One of theing confusions was if you take out a loan have another loan could cause default on Government Back loan really confusion underscores we have to change our legislative process, these fellos, drinking from a water hose, 883page document given 10 minutes before if you read through things it is so much globally gook we ha globally facebook since have to be more involved the process simplified if possible. What is your take on reopening the economy do you think additional stimulus for Small Business individuals will be needed has what is your take about the current shutdown foster . I think i was just on the Conference Call with mccarthy pence Vice President pence also, all of them the conferences how is this going to work nuances of it they are talking about confronting the virus we have to spend more time now, now, figuring out how steps that would begin opening up the economy. Maybe theatres should sell limited number of tickets have chairs smart so paced properly may be restaurants should limit the amount of people they take in. So how do we get the economy back running . It has to happen some point but main thing you have to do it safely that is i where science data comes in we are blessed to have doctors birx, dr. Fauci to guide us through that first thing concerned about is lives when people talk economy think about peoples lives my portfolio goes up and down not going to change my life we have to think about the woman on the show the hairdresser people say wealthy people dont have to have hair done but heavens sakes it is little guys that are doing the hear, the barbers, at the hotel maids people look out for they are the ones getting massacred by this when we talk economy we have to think about them, our portfolios will do just fine in the process lets think about the little guy. Maria yeah, i mean youve got things like, you know, the barber stop i dont go a studio the restaurant, all trying to understand, how they are going to actually get back in business here. It is good to see business come together with the administration, that is for sure youve got pharma sector working closely with administration an cures, treatments banks trying to do their best how long do you think this is going to take, to get back to normal . I think what you just said in terms of what restaurants are going to do, or movie theatres do you think a longstanding impact whereas, restaurants are going to say look people are not going to want to go to crowded places anymore they are going to have to make changes in the way seating goes. You are absolutely right, and how many people are going to want to fly to Foreign Countries . There is a lot of things going to be changing home schooling things neighbors having problems yesterday two kids disciplined fore fighting in teacher got fired for drinking on the job, so home schooling going to work out that o. We are going to see a lot of changes take place, and some very positive, i think, now you see more family time together, and i think, you can use this as opportunity crisis to forge our nation, into the kind of system and society we would like. For example, telemedicine very effective other things very hassle helpful wait let signs data dr. Birx number one concern the economy is going to be different than it was before, and we just have to make sure, that we take care of people first. Maria foster do you think we are going to see dividend cuts from big banks jamie dimon wrote annual letter this morning, the letter was released he says that j. P. Morgan dimon says under extremely adverse scenario would board likely consider suspending the dividend under extremely veers scenario, ifsend dividend under extremely adverse sonar we are assuming future will include bad recession combined with Financial Stress similar to crisis of 2008 your reaction to when a year hearing from jamie di jamie dimon. A strong possibility if you look at what is happening hotels struggling a long time after the coronavirus is theyre control, many customers i think banks well capitalized much better than they were going through 2008 crisis, so it is he i am almost willing to bet that some will do some cuts in dividends, that is something that not going to affect the people getting back the job as hotel maids, and bar beers those are people to think about first. It is amazing how there is people having hiring a caterer to give food to lerlt a lot of Different Things may be should go home put new bathroom on or new deck. Maria foster thank you so much. We have to get. We appreciate it. We appreciate you maria you are just of the nice inspiration to start morning with joyful face of hours in keep doing. It thank you. We will be right back. Our Retirement Plan with voya gives us confidence. They help us with achievable steps along the way. So we can spend a bit today, knowing were prepared for tomorrow. Wow dad, do you think you overdid it maybe . I dont think so. What do you think, peanut . Nope honey, do you think we overdid it . Overdid what . See . We dont think so, son. Technically, grandparents cant overdo it. Its impossible. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Maria welcome back, raytheon completing personallying with yun ooitsdz technologies, started 51 a share joining us right now Raytheon Technology ceo gregg hayes thanks very much for being here congratulations on the completion of this merger. Thanks for having me on not exactly the way expected to start this Great Company but we will get through it. Maria , of course, i want to ask you about what you are doing in fight against coronavirus tell me first when you look at Raytheon Technologies where you see the growth happening lets call it the next five years, where does the growth come from . 60 days ago i would have told you primarily going to come on commercial aero side as boeing and airbus rampup production. Today as we look at it going to obviously, come from defense side good news into this merger weve got a 70billiondollar bablog defense related 50 from legacy raytheon 20 billion legacy utx strong growth port fillio last Fourth Quarter 1. 5 raytheon 1. 4 First Quarter strong backlog where growth is going to come nearterm. I still think long term we will see recovery in commercial aerospace may take a couple years to get back on track i think going back to trajectory we had seen before all this. Maria so you do think that things can get back to normal in terms of commercial aerospace, you think that people will want to fly differently . Are there retrofitting ideas because of peel changing this way they want the fly or pattern given the fact the social distancing rules may stay with us . Yeah i think that is a reality at least in the nearterm until vaccine is available, then widely distributed. I think what is going to happen you are going to see a slow return of air traffic if you think about air on commercial airplane going through a number of filter systems we do Environmental Control systems at a number of aircraft that air coming out of airconditioning system ecs, is clean as can we unfortunately you still have passenger next to you could infect you i think you are going to o see social distancing on airplanes, to extent that is possible. But really the recovery is not going to come until we see this vaccine, become effective, we thought this was like, two months ago thought this was like sars in 2002. You know sars started in asia was pretty well contained in asia air traffic slowed down better part of six months within 12 months air traffic was back original hypothesis today i think a full two years before we see kind of a return to normalcy the end of this year hopefully a vaccine widespread distribute air traffic starting to pick up after that that is the key scientists do work get that vaccine done, and out to the public. Maria so Raytheon Technology helping in fight against coronavirus donating more than 90,000 units potential protective gloves, to he can i rail on idea we have so many important products that we need that are critical, to our people made in china. And earlier i reported that not only is china producing half of all the world capacity in things like masks but china was in the open market buying two billion masks in january. So, frankly there were downplaying the disease, they did not tell anybody about it at that time were applying up cornering the market in masks. Maria obviously, it is where Global Supply chain evolved last 20, 30 years there is mask manufacturing in u. S. Obviously, 3m Honeywell Honeywell opened a plant in rhode island opening up another one west coast to make about seven Million Masks a week it takes time to build up that supply chain in the interim i think we are stuck having to use china suppliers, quite frankly, we are able to pro cure almost a million pieces ppe last week, 325,000, 95 masks, 3,000 surgical masks donating this week, to the new york, connecticut effort for hospitals and frontline workers, so it is out there, just takes time unfortunately, you captain build these plants overnight. It takes weeks to order machines weeks to train people, the problem is the need is today. Therefore we are going to be relying on china for quite sometime. Maria absolutely, i know that we have been talking about boeing, boeing positioning pushback dont want government money dont want to government to take a stake in their business do you think Raytheon Technology is going to need money from the governmental . As i sit here today i would tell you absolutely not we entered merger last friday seven billion dollars cash on Balance Sheet, weve got a solid creditrating another five billion dollars stand by lines of credit, and frankly the defense business with what dod has been able to do progress payments helping to get cash to us we are in fine shape, and you know in fact, as i think about it from a liquidity standpoint we dont have an issue i think the dividend is solid we will be just fine this year we the issue i think you touched on it earlier in the program, is Small Business. And while we can survive a big cut in boeing airbus production, or cut in consumption from Airlines Many our suppliers dont have financial wherewithal we are setting up an Organization Today supply chain organization, to help those Small Businesses that we rely on get government aid so weve got contracts folks legal folks finance folks to help them work their way through kind of myriad of 870 some page bit of legislation, try to get the money, because without the supply chain, we dont build product dont build product airbus doesnt bull product it all starts with Small Business getting them cash right now is imperative. It is great to have you certainly make the point thanks very much for joining us this morning please come back soon. Thank you, maria take care. Thank you, the ceo of Raytheon Technologies Technology Giants like microsoft offering resources to help scientists find best solutions, to fight the pandemic, helping offices connect with microsoft spaces Artificial Intelligence to help people assess covid19 symptoms even working with biotech firms to map immune system responses the chief Technology Officer at microsoft also executive Vice President of a. I. , and research at microsoft, kevin scott is here, he is author of the book reprogramming the american dream, kevin scott joining me now great to have you on the program this morning thanks so much for being here. A hey maria, thank you so much for having me on. Congratulations on the book, you know when i first started reading the book it was but will what are my favorite subjects a. I. , i enjoyed it very much ordinarily would talk all about how a. I. Is changing our lives change business let me start with coronavirus putting a strain on rural communities, not prepared, to just quote work from home, some parts of the country dont have the same tech infrastructure, like Broadband Internet you see in urban areas, new york seattle who you are you at microsoft bridging that gap. We have a bunch of things we have been working on for years. You may be familiar with the Broadband Initiative that we have been driving, air band program where we know that we have 25 Million People, in the United States, who dont have access to high quality Broadband Connectivity, 19 million of those people in rural and sparsely connected sparsely play this parts of the country, so we have developed technology, that to help use, unused Television White space to bring wireless Broadband Connectivity into these communities i think you can see from the the covid19 situation that we are in right now that about the connectivity more important than ever. Bridge the gap between big cities and rural communities, like yours, and day agoens home in virginia i know you know dagen very well we bring dagen in. Dagen kevin just for the viewers point of views we grew up in neighboring to understand kevin is essential a member of my family, kevin and my brother are best friends since childhood. So, we are exceptionally close, to bring the book in, what you are working on now, fighting this virus you sent me in email, when we were talking about the book when it was coming out, ive got my dog eared copy here one of the reasons i wrote this deep respect commence faiblth i have in people of rural machining i know they will embrace use technology to make their lives better this narrative that many people have in their heads, that ruler americans are going to be victimized by technologically change need to be protected from it is cynical in itself a bunch of hardworking ingenuous people far too short talk to me about that. When i started writing the book i had, a set of my preconceived notions in my head about how a. I. Was going to impact jobs in america, and the global workforce, and at the beginning of the writing process i went back home, to gladys visited, where we grew up in, i had this aha moment, i saw people in this Community People i have known all my life using technology already, and a very i sophisticated way thought to myself the viability of the businesses that they are operating right now, is dependent on sophistication of the tools they are using. And they are poised to use a. I. Which is a tool, maybe the most powerful tool humans have invented to do enormous good for themselves for their businesses, for the communities for the people they care about. In their lives. Dagen before maria moves on to talk about covid19 the microsoft fight against that, i just want to say, that mama and daddy are as proud of you as they are of me and landon, they as a family we are completely in awe of your brilliance what you have been able to do not just as a Technology Expert leading the way there but as father and husband, too so i love you very much kevin, maria take it away. Maria i am glad that you guys could be reunited in a live interview kevin i did one hour special on ai learned so much about how the Artificial Intelligence learners from real life, learns the jobs that we do then does those jobs, in fact makes it much more effective for people, who can use a. I. , whether medicine, you know health care as well as throughout manufacturing, it has been incredibly effective seems that this is going to be the driver of business in the next 10 to 20 years, and beyond. Yeah i think, you are exactly right a. I. Is an incredibly powerful tool, you know the way that i think of it a tool that automatics tasks we are not yet at the point where a. I. Is full substitute for for complete human beings, but it can augment human worker in ways that make people vastly more productive, and can make things possible that arent right now. One of the things i am most excited about is the the possibility that we will be able to use a. I. In health care, to help address some of the problems that we are struggling with right now with covid outbreak. Maria i to let agree i think that is really where we see most improvements where lives are so much improved because of what technology can do for health care kevin while i have you i got to ask something we talk a lot about on this Program China the idea so Much Technology has back doors why the huawei situation is such a hot taup, because are there back doors back to Chinese Government i have a report in hand right now about zoom, zoom, of course, headquarters in the United States has been really popular everybody staying home using school teleconference app to conduct business zoom in United States listed nasdaq he the main play on appears with china, given worry over china whether or not we are seeing secrets get stolen what do we need to understand, about surveillance open doors in some of the technology, makes American Companies vulnerable . Well i think it is really important for companies who are employing technologies individuals employing technology pof ability to look into details how Technology Works transparency is very, very important. These issues of digit swofrnt where data provides traffic flows have been top of mind over the past several years i think just get more important in the future. Of the. Maria dagen it is dag. Maria dagen i want to ask one quick thing before we go in terms of technology companies, the biggest, and best coming together to fight covid19, to do their best, in controlling this pandemic, do you think that this is really in technology the calling of a generation . Yeah, a i think so one of the things that could very well happen as consequence of this that you see more collaboration cooperation i am certainly seeing this right now with the scientists the Public Health professionals who are right there on the frontline trying to get us back into a into a good state to fight this horrible disease, i am seeing with companies collaborateing in ways they havent in the past coming together to serve the public good, you know, it may be the case, that that covid19 actually spurs a renaissance in investment and innovation in the biosciences biotechnology, it could be that we come out of this with a set of innovations trajectory that makes our future batter in the same way the industrialization that came from world war ii, has formed most of the past 8 decades of development in the western world. Maria when would with, of course, be a wonderful outcome, given what weve all watched and been faced with last couple months kevin scot congrats on the book we hope you come walk soon sir. Thank you. Thank you so much. Kevin scott joining is i want to are inline something i said to kevin zoom is being used are a lot throughout sit zoun Amazon Headquarters in the United States listed on nasdaq the main line amazon app appears to be developed by three companies in china. Amazon moss post rent sec filing Shows Company through chinese filth employs at least 700 in china work in quote unquote research and development. An important point to make about zoom technology. President trump is threatening to impose substantial tariffs on oil imports amid a price war between saudi arabia and russia, just spoke with Energy Secretary about that, Cheryl Casone now with more details on that good morning to you. Cheryl great interview, the president says now that steep tariffs are still possible if saudi arabias russia cant Reach Agreement on production legals oil prices down guys about 55 from a year ago, the president says he doesnt think that is going to be needed but Energy Secretary Dan Brouillette did speak with you last hour had this morning look all options are on the table the president made that very, very clear. I talked about it earlier for those who would take predatory advantage of u. S. Market the president will react accordingly. Brouillette ordered he expected opec meeting today held later in the week oil down more than 3 1 2 . Tesla showing off plans to produce much mediaed needed ventilators several car manufactures to step up and help tesla using parts from model 3 cars to build ventilators going to reopen new york facility to start production ventilators in short play the stock up more than 4 1 2 ford shipped a million face shields across the Country Apple ceo Tim Cook Says Company is aiming to produce one million face shields a week, for health care workers, cook says the face shielded design can be packing 100 to a box assembled in 10 minutes donated 10 million, are 95 masks the organizations that need them up 3 1 2 premarket tim cook on twitter. Outpouring of support for our health care workers, goes on, take a look at messages, in anonymous artist in chalk outside a hospital in new orleans some say you are extra ordinary Medical Center has been struggling in pandemic louisiana one of the hardest hit in country nearly 500 deaths more than 13 though cases again we continue to celebrate our health care workers. Maria, back to you. Absolutely, big shoutout working so hard putting you their lives on line we owe them a great debt this you a white house 350billiondollar Small Business loan program launched this past friday, it was a rough start ailes to help Business Owners cover key costs amid pandemic there have been a lot of complaints by banks, President Trump laid it out yesterday. My administration, is rapidly implementing largest emergency Economic Relief package in american history. You have seen the what has been happening. Billions of dollars in Small Business loans have already been processed, through paycheck, protection programs, so we went out on friday, literally it has become so popular has been worked with banks, to get to it the Small Business, we it is all about employment all about jobs. We want you to keep your jobs would. Get Small Business funding to keep workers on the payroll. Maria big banks have made accommodations wells fargo however is capping its participation at 10 billion dollars bank of america says 85,000 Small Businesses have asked for more than 22 billion dollars, in recovery loans joining us right now he on phone home depot cofounder founder Job Creators Network Bernie Marcus great to have you this morning thanks so much for being here. Good morning. How are you . So what is your take on this program, the Paycheck Program while it has positive momentum definitely certainly with president said, it is still somewhat disappointing because the treasury is pretty much forcing funds to be used by companies to retain payroll they dont want you to fire anybody, and you retain payroll regardless of loan forgiveness eliminates ability to bank this money use it for other things, to some people that increases risk a longer crisis will result in businesses closing and they wont be around to rehire anybody your reaction to what has taken place so far. I think that first of all, you have to understand, what we i mean by Small Businesses, a Job Creators Network i found 8 years ago, has been working with white house, and secretary mnuchin to get this bill through, it is amazing, to me, i remember you think about how fast it happened, because the house bill came down, the house bill had very few provisions for Small Businesses. And Small Businesses make up the bulk of merck, if you think about it there are 30 million Small Businesses in the United States that employ between 60, and 70 Million People that is half workforce nobody thinks about them everybody that goes out, you go to a restaurant, that restaurant represents 50 to 100 employees. You go to cleaning shop, where you send cleaners that could be 10 to 20 a dental office barber shops these are Small Businesses that we cant live without, and make up bulk of what is happening in america. And to not help them worry we have to be concerned about the airline industry. We have to be concerned about airline manufacturing business. But if we dont have the Small Businesses we have no economy in the United States, and im, im absolutely incredibly positive about how mnuchin took that bill the house bill, and with the advice of Job Creators Network people that are running it leak alfredo ortiz, elaine parker, went through this whole thing getting money from directly from the banks. So that they didnt have to go through sba which is a three to four month, these people they dont have any money maria they dont have any money. Great to hear directly from you you founded the Job Creators Network, we want to get your advice on you know for employers to get workers back on the job but do you think to avoid any negative outcome here congress is going to need to to appropriate more funding for some of those smaller businesses like you just i am talking about the barber shop cleaning company or yoga studio, et cetera. Those Small Businesses. Well, look, i dont know, nobody knows how long this thing is going to go on, i am hoping that this will get us through, i see it as flatteninge out today in many markets many places like new york, and if that that continues, perhaps this thing will be over we will Start Talking about how to bring america out of this little recession that we are in now. Maria it is absolutely incredible, i mean you started so many, many incredibly successful businesses home depot among most sufficiently if you seen where government has to shut down business and in this case because of this virus do you think we are going to be able to come out of this and be vibrant once again sooner rather than later. I am a positive thinker i think that i think that look. This president has been hit with something that no president has ever had to deal with and i i just resent the people that are going after him now. They are already talking about another impeachment, i hate to tell you that, that adam schiff is already investigating this. You know i think that adam schiff and nancy pelosi should Start Talking about impeaching the god i mean god is probably responsible maybe Chinese Government. Of the that will get them stars you are hitting on something you are hitting on something that is really important, because for three years, nancy pelosi and adam schiff were looking for ghosts of russia collusion in doing so in terms of getting the country all crazy over the potential of collusion between the president and the russians they completely missed the bigger much more dangerous actor that is china. China has been eating our lunch weve got all this stuff produced in china we need right now including ingredients from prescription drugs this you know want another investigative process of this president throughout the ukraine impeachment trial as well as the russia including three years all that time they missed so much that actually impacted americans most importantly in my view is china, that is the story of the day. They are continuing to eat our lunch, and downplay this virus from the getgo. I could tell you i could tell you this. This whole country was tied up for two and a half months on the impeachment nobody no congress was doing what they had to do eyes were not where it should have been they should have been investigating what was happening this pandemic had started, china, they were not aware of it because so focused new york times, and Washington Post and everybody else was so focused on the impeachment, and you know, i think that he everybody including the president his eyes were focused on it also i think that we lost sight of what was really happening around the corner, now it caught up with us. Bing maria it is here, maria. Maria right sure is now we are dealing with it. Thank you. Real quick. Job had beenh creators netwo network. Com, get information questions and answers answering all your questions. We will do that Bernie Marcus great to talk with you come back soon sir thank you very much, well be right back. Blizzards all winter. Blizzards all winter. Winds at a 150 miles per hour. If the roads arent cleared, people cant get anywhere. But no matter how crazy it gets, we know when and where to get to work. Data on the ibm cloud helps us maintain 8,000 miles of roads across the country. It helps keep millions of our visitors and our own families safe. Maria welcome back Country Music artists together for a night of performances from their holes reminding fans count our blessings stay united in fight against covid19 Cheryl Casone. Cheryl that is right supposed to be one of the biggest nights in Country Music more than 20 kin music biggest stars joined focuses a virtual concert renamed it, it acm presents our country very different aired in place of the economy of Country Music awards poventd to september. First responders, keith got down to business with hit wasted time. Wasted time cheryl Carey Underwood performed drinking alone a glass of red wine alone. We are alone together. And that is exactly how we are going to get through this mess. We should be together, i dont know what she did cheryl highlight i thought brad Paisley Rucker joined forces to honor kenny rogers youve got to listen two getting together quite a performance, obviously, Kenny Rodgers passed away last month two songs gambler and another hit lucille. You picked the time to leave me lucille nowhere to walk away, nowhere to run cheryl you know the special had another purpose besides letting viewers snooidz homes of celebrities insurers encouraged to donate to covid19 response fund, music is medicine, and really is at this point especially now. I agree with that great i love thatpiece cheryl great work Cheryl Casone. Well be right back. Stay with us. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Has you covered withe fast, reliable internet. Finity with advanced security to help keep you secure online. And with the most tv shows, movies and streaming apps all in one place. With simple Digital Tools you can get the help you need or even trouble shoot your services on your own. Download the xfinity my account app or just say help into your xfinity voice remote. We are working to make things a little easier on everyone. Download the xfinity my account app today. Welcome back many people feeling like Financial Stability is up in the air amid Coronavirus Crisis we want to help you figure it out we asked our viewers to submit your questions and concerns to our social media, one viewer asking this should i use my 401 k plan to pay my bills . I have a real reaction and opinion on this let me begin with Mitch Roschelle go ahead mitch. Cares act made changes you can borrow up to 100,000 dollars, used to be capped up to 50 you think withdraw from 100,000 from 401 k or ioa, without 10 penalty you pay tax on money pulled out repayable over three years. Dagen if you putt money back you dont have to pay the tax, and you have a threeyear period if you take a distribution. So i will point this out, my opinion, and maria will jump in here, there is nothing wrong if you are suffering a hardship from taking your own money, to pay bills. The money in your 401 k plan is yours belongings to you if you take a distribution again you are going to 00 tax if you dont pay back over three years, nevertheless you can call your plan sponsor they have to sign off on what is they have to deem financial hardship, but if you for any reason, have suffered a hardship related to this virus they will let you take this money out. Go. I think that is where Stephanie Pomboy is on this right. Normally i am opposed to anything that involves dissaving you know in general americans need to safe more not less. But since i see a second wave of stock price declines i think this is actually a unique opportunity to take the money off the table if you need money now. You know it is an opportunity, that money may actually go down, if the market does what i expect it to do, between now and end of the year anyway. Maria so youve heard a lot of here if you really need that money, you can touch it, i am going to take other side of that trade say to make this your absolutely last resort i dont care what happens to market in a year if you care that market is going to go down in a year or next year maybe rethis this but my view you have to do this a very, very last resort try not to touch your are 401 k money that is for that retirement account so you have money once you retire we want more questions to talk about all this slip in a short break, when we come back weve got great esteemed panel this morning. Mornings with maria continues right after this. Your customers served. Your students inspired. And your employees closer than ever. Our network is resilient. Our people are strong. Our job is to keep your business connected. Its what weve always done. Its what well always do. Maria well, i want to thank our great panel this morning. Have a great day, everybody. That will do it for us. Varney Company Begins right now. Ashley webster in for stu today. Go seize the day. Big rally under way. Ashley im on it. Thank you very much. Good morning, everybody. America enters another crucial week. President trump warning of a sad week of news ahead. The Surgeon General comparing it to pearl harbor and dr. Birx warning us not to go to the Grocery Store even if we dont have to, dont go to the store, says dr. Birx. Social distancing becoming critical as some of the numbers suggest a glimmer of hope. New york reporting its first daily drop in coronavirus deaths and heresth