Transcripts For FBC Mornings With Maria Bartiromo 20240713

The last 20 minutes or so. Nasdaq is down 33 and 3 quarters. Now these numbers coming after signs of the spread to have virus stabilized in hot spots. That led to strong rally yesterday. Here at the close yesterday, the dow gaining and s p entering bull market. U. S. Death toll topping 14,080 but there are signs that the spread is slowing in hot spots. The cdc issued guidelines to get to workers. The Trump Administration requesting 250 billion, democrats want additional 50 billion. Fed chair jay powell will be giving us an update on the economy and actions taken to combat the impact of the virus, thats today 10 00 a. M. Eastern time. More to expect from the fed. The today is a big day for oil. We are watching the contract right now. Its up almost 5 and a half percent. The investors are watching the opec meeting including saudi arabia and russia, can they come to an agreement . All rising on hopes of a deal to cut production and bring an end to the costly priced war. And then there was one, senator Bernie Sanders dropping out of the president ial race leaving former Vice President biden the Presumptive Democratic nominee to go against President Donald Trump. Mornings with maria is live right now. Cheryl check out Global Action over to europe. Ftse higher by 24 points. Dax index almost higher by half a percentage as you can see. Theres optimism growing that the spread of the virus might be slowing down. Meanwhile uk Prime Minister Boris Johnson remains in intensive care as hes battling the coronavirus but his condition reportedly is improving this morning. Take a look at asian markets. Mostly higher as you can see across the board except for japans nikkei down slightly, just a fraction of a percent. Headlines we are watching for you this morning. Isis claiming responsibility for rocket attack on american troops overnight. 5 rockets were fired at air base in afghanistan, militarys largest base in that country. No troops were hurt. The atalk coming amid peace talks between afghan officials. New york saw the deadliest days since coronavirus, 779 deaths were reported as the federal stockpile for protective equipment is nearly depleted. 90 of items like masks, face shields to protect clothing have been sent to hot spots like new york. The other 10 has been saved for federal healthcare workers. Positive news coming from the cdc. Officials say that essential workers like those in health care and food supply who have been exposed to covid19 that are not showing symptoms can return to work. Cdc says that workers should check temperature before heading to work, wear face mask and practice social distancing. More positive news this morning, nearly 24,000 people have now recovered from the virus in this country so far. Well, Bernie Sanders out of the race making joe biden the presumptive 2020 democratic nominee. The vermont senator was once a front runner for the new mexico nation but the momentum shifted on super tuesday, sanders congratulated biden stopped short of endorsing him. In fact, sanders is still going to collect delegates in primary races in an effort to influence the partys platform no doubt. Disney plus reaching a milestone, nearly 50 million subscribed to service. Higher by more than 6 and a quarter percent. Well, markets are looking to keep up the momentum this morning. Again, we are looking at futures, the dow has actually now gotten into positive territory for the futures market. Right now the dow higher by 25 points, s p and the nasdaq quietly lower but the dow closed 23,000 for the First Time Since march 13th yesterday. The s p entered a bull market, exited. President trump offering some hope for the American Economy. It would be nice to be able to open with a big bang and open up our country, mostly the country. I would say we are ahead of schedule. You late to say that too loudly because all of a sudden things to dont happen. I think sooner rather than later. Managing partner ted oakley. Good morning. Good morning, cheryl. Cheryl i have maslansky partners president lee carter, good morning to lee. Former strategist president madie and Stephen Moore, good morning to all of you. Ted, i want to kick off a discussion with you, we are looking at a market who is trying to recover but its all about the economy. We have a 22 trilliondollar economy thats 70 based on Consumer Spending, consumption and we dont have that right now. Is the market, do you think getting ahead of itself as we see the s p out of bear market territory . Ted i i think i do. When you get cuts in the market you always have a group of people who want to catch the bottom or think they have the bottom, but the bear markets run a long time, certainly a lot longer than 5 weeks. Thats where people probably making a mistake, its not unusual. Happens quite a bit. Certainly yes its ahead of its self right now. Cheryl madie, whats the bottom [laughter] the thing we have over the past several years completed the economy and the stock market yet the stock market can tell us important things about the economy but they are not one and the same and what we know right now is that we have a Public Health crisis thats weighing on our economy. Until we know that that disruption thats necessary to contain the Public Health crisis we know that the economy is not going to recover. So its true that some industries maybe seeing a bump, its true that some industries may see a little bit more forward progress than others, but i have to agree with our guests here, theres still probably a loft runway until we know that the fundamental problem which is a pandemic which we dont quite have a handle on yet is still the number one policy concern for the United States and until thats solved i dont think we can say that we are in the clear yet. Ted, if we can look ahead at 10 00 a. M. Eastern time we will be hearing from fed chairman jay powell at the Brookings Institute and live web stream. Investors are hoping we can get more light on him on how he see it is crisis unfolding from now, of course, we got the minutes yesterday from the march meeting and that showed that basically they all agreed that they had to take drastic steps, do you expect anything more from the fed chairman today, ted . Ted i dont know anything today but i certainly do expect it. I think you have a lot more money coming because i think what they first put out probably wont cover it and people probably in general, they dont really now how bad the credit markets are right now. Theres still reasonably frozen in a lot of areas and so i can see them coming with more money over time. You may not see that today but i think they will. Cheryl also, ted, jobless claims at 8 00 a. M. Eastern time. We will have them live for the viewers on the show. 5. 25 million. I have seen ranges going up to 9 million. The range from last week is a vs. One. What are your expectations . Well, i know the numbers out there are 5 or 6 million. Thats going to put you up at 15, 16 million over the last 3 weeks and im certain that goes, you know, goes higher. I just know too Many Industries where they layed off everybody and so you have a lot of that going on and so the numbers take a while to get in there but it will be another big number. Cheryl as far as revision for last week, do you expect that as well . I dont know. I cant speak to that because i really havent looked at revisions. I might think that they would be this week but i think the one thing that people probably misinterpret in this whole thing is really the devastation on the average, average working person by the hour thats working at restaurants, et cetera. Cheryl yeah. Massive devastation is out there. Cheryl Stephen Moore i want to bring you in the discussion and its all about the economy and the claims are going to give us likely rough view of what is happening in america. Youre seeing increases in the market for the last couple of weeks have been in my opinion 80 to 90 by the news of the coronavirus. We have good news on coronavirus. We see a big rise when we see positive news about the spread of the disease, the market falls and so given whats happened in the last couple of weeks i think that is reflecting a real sense of optimism among investors that we are going to potentially be able to open up the economy somewhat sooner perhaps than trump has talked about. Right now hes saying april 28th. If he can stick to that date and possibly a few days earlier, then i will see this continued euphoria. My point is yall dont have to look about the news thats happening with the number of cases, the number of deaths and so on, its all reflected right now in the stock market. Cheryl yeah, steve, a lot to talk about the show, you will be was throughout all of it. Ted oakley, thank you very much for joining us this early morning. We appreciate it. You bet, cheryl. Cheryl we have a lot coming up during this hour. Concealing the coronavirus, the Chinese Government facing a fresh lawsuit for reportedly lessening the severity of the outbreak as early as november. More than ever, your home is your sanctuary. 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. Did you know liberty mutualt customizes your Car Insurance tada so you only pay for what you need . I should get a quote. Do it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Cheryl suing china over the coronavirus, a group of Small Businesses in california reportedly are suing the Chinese Government wuhan and the countrys Health Commission for 8 trillion in damages they claim they would have suffered by tend of the crisis. Lawsuit alleges that china knew as early as midnovember according to report from tmz. Lets bring in fox news legal analyst mercedes. Good morning, cheryl, great to be on with you today. Cheryl what do you make of this . A stunning number. 8 trillion first and foremost is mind blowing but the basis of their case seems to me a little a little thin, what do you make of all of this . Thats a great point. One of the biggest challenge that is the case will have is federal law called the foreign sovereign immunity debt. Basically gives cover to foreign states like the Chinese Government, chinese entities and says you wont we the u. S. Courts dont have jurisdiction over you as a foreign entity but theres two exceptions and thats what the businesses are trying to establish with this case, they are saying number 1 that this is more of a nature of commercial case and the Chinese Government and the entities actually committed acts within the u. S. This isnt about a commercial issue or trade. This is about an allegation surrounding governmental actions, the censorship. The fact that the allegations that the Chinese Government and entities misled the world health organization. They didnt report accurately as to the nature of the virus, the number of deaths, the fact that they censored any public dissemination and that is not business, not trade, so that exception doesnt apply. The second part about the activity have to occur in the United States for that to attach. The procedure hurdles are overwhelming for the businesses to overcome. Cheryl not to mention China International courts versus domestic court. I want to bring in Stephen Moore. Stephen this is such a fascinating issue that we are seeing with the chinese. Im hearing a lot of talk in washington about a wartime violations, almost a case for the United States government suing, i dont know if suing is the right word but penalizing the chinese for effectively reparations payment that the chinese would pay to the United States because of their their disdeposition deception of the world. Do you think theres anything to that . Its going to be so difficult. Thats an excellent question because you look at just the nature of the cases that we are talking about with respect to these businesses. You kind of see the theories that will be out there. One really centers around the lab where this occurred that the boy owe lab created bio lab and sold the animals that were affected as opposed to cremating them. So its going to be pretty difficult for the u. S. To have any type of claim like that. Cheryl well, the businesses no matter what they are suffering. Mercedes, thank you so much for getting up early. Good to see you, mercedes colwin. We have a lot coming up this morning. And then there was one. Senator Bernie Sanders has suspended his 2020 bid. Hes now clear the path for joe biden to take on President Trump in november. Stay with us. Live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. You may not be thinking about blood donation, 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. 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 ] while we are winning the ideological battle and the support of so many young people and working people throughout the country, i have concluded that this vow for the democratic nomination will not be successful and so today im announcing the suspension of my campaign. Cheryl well, it is official, Bernie Sanders is out of the 2020 race for the white house. Move essentially teeing up former Vice President joe biden as democratic nominee. Lee carter to you what was the take of what you heard mr. Sanders and the fact that he will be keeping his delegates . Lee i think it was hard for him to end campaign. Hes not the traditional candidate. Hes looking at this more as movement than he is running for president. This was very difficult for him and im not surprised that hes going to hold onto his delegates an hes going to try to keep his influence in this because i think he has a higher purpose in all of this and so i think thats why hes doing it and itll be really interesting to see the pivot because the Vice President ial pick will be most because he himself is not the most popular candidate that we have seen going into an election. Cheryl basically in a way come together at the end of the day and pushed sanders out. Look, one thing that sanders did he yanked the democratic sharply left and they point to some of the Biden Economic proposals which are still in place. His proposed tax increases still 3. 4 trillions. His mind may have changed during the pandemic but thats still a joe biden mrs. Form which is raise taxes. Thats right. Challenge with Elizabeth Warren running against Bernie Sanders she actually did her math. She forced Bernie Sanders to admit that theres a lot of tax increases to pay for medicare for all and its not just Cheaper Health Care and not just all benefits that hes promising. When you look at the Democratic Party now i think that the Sanders Campaign is instructive for some of the challenges that biden now have. The thing that Bernie Sanders was saying he can create a coalition that traditional cant. He has trump young voters. That didnt being the case. How does biden replicate him now. Does he have to rely on the obama coalition. Its not clear that he will be able to galvanize voters that will be coming out to vote for him. The vp pick to try and create the coalition that defeats the president. Cheryl hes committed to a woman and the betting has already started. Cam dollar harris still at this point still has strong probability of being nominated and also amy klobuchar, steve. Stephen a couple of things. Im not convinced that joe biden will be the democratic nominee. Im talking to many democratic operatives who watched his performance in the last month or two and they are nervous about biden. He doesnt seem like he has it all together right now and as you know you reported at fox business, theres been boom to go with dump biden and go with cuomo. I would not rule it out. The other thing id say quickly is that, you know, you played the clip of of bernie saying, look, im winning the ideological battle, you know what, he is, what we are seeing in washington, the craziness is the Bernie Sanders agenda. Cheryl go back for a second, steve. You dont think that joe biden will be the nominee . I find that hard to swallow. Stephen democrats dump biden, look, you cant be our nominee, youre just too old and they may they may dump biden and go with somebody like andy cuomo or michelle obama. Cheryl i think cuomo is a little bit managing a crisis, steve. This has been a wild year, you never know, we will see you in a little bit. Well, its true, the reality has certainly changed in the country. Futures hoovering near the flat line. Futures are down slightly across board. Different story in the oil market. Up 6 and a quarter percent. This is ahead of the opec meeting. 10 00 a. M. Eastern time, we will break that down when we come back. I knew about the tremors. 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. Ask your parkinsons specialist 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 cheryl welcome back, im Cheryl Casone in for Maria Bartiromo. It is thursday april 9th, top stories at 6 30 a. M. Eastern time. Markets are searching for direction ahead of what is to be another blockbuster initial jobless claims report. Thats going to be released at 8 30 a. M. Eastern time. Economists are expecting 5. 25 million americans filed for unemployment. We have seen estimates go above 9 million, we will get the actual number at 8 30 right now. S p down 9 and 3 quarters, nasdaq is down 36 and a half in the premarket. Now all of this is after signs that the spread of the coronavirus is stabilizing in some hot spots. That led to a big rally yesterday as you can see the dow closed higher by 779, nasdaq, s p gaining as well, the s p 500 by the way actually entered a bull market. Spotlight on oil, investors are watching this mornings opec Virtual Meeting, that meet asking going to include saudi arabia and russia. Oil is rising right now, jumping almost 6 and a half percent on hopes that an agreement will cut production to be put in place and bring an end to costly price war. We will be looking for headlines at 10 00 a. M. Eastern time today and taking a look at Global Market action right now. Europe has been another story, theres been reports that the numbers are stabilizing in italy by the way for coronavirus cases and spain as well, so a little bit of optimism. The ftse is higher, right now dax is higher, theres optimism growing. The spread is slowing down across the continent, meanwhile update for you, uk Prime Minister Boris Johnson does remain in intensive care. Hes battling the coronavirus but his condition reportedly has improved this mourning. Now taking a look at asia overnight markets there were actually mostly higher except for in japan the nikkei slightly losing. Hong kong announced nearly 18 billion in the stimulus, mostly focused on helping workers there impacted by the coronavirus. Well, the body of robert. Kennedys great grandson has been recovered. Jackie deangelis with all of the details. Jack 8yearold went missing in Chesapeake Bay last week. Her body found on monday, the family thanked searchers for giving them closure. , the ripp reportedly recorded conversations. Lewinsky tweeted, no matter the past, i hope for her recovery, i cant imagine how difficult it is for her family. Tripp who was fighting cancer was 70 years old. Sources say the move comes as wework tries to renegotiate leases with landlords. The coronavirus outbreak is the latest challenge to weworks future after receiving a bailout by softbank following a botched initial public offering. And google banning employees from using zoom. The company emailing employees telling them to stop using the teleconferencing platform over Security Privacy woes, have you heard of the new trend, zoom ceo tells our Charles Payne that the company is taking steps to fix its security flaws. Google isnt the first to stop using zoom. Cheryl i wanted to quote, unquote my friends and we did a zoom call and i realized it wasnt a good idea. Jack its a little dangerous but during crisis times we have to have some ways to connect people and zoom is a popular way to do it. Cheryl a lot of companies are still using it. Jackie deangelis in our news room. Theres optimism, up 1 and a quarter percent and the contract rally yesterday, a lot going on in oil. Worlds Largest Oil Producers are having the Virtual Meeting today, 10 00 a. M. Eastern time and investors hoping theres deal to cut production, maybe 8 or 10 millionbarrels a day between, this would be really between the saudis and the russians and that would end cost war thats been hurting. U. S. Energy companies especially shell producers because a lot of people dont realize, steve, that we still import amount of foreign oil because we cant, refineries cant process all forms of domestic shell . Stephen thats right, i wrote a whole book. Amazing thing is, cheryl, that the 2008, 2009 recession, remember that one . Before we had this one. We lifted out of that recession because of the shell oil and gas boom, it totally resurrected the companies, those companies are almost victim of their own success because they created such a boom in Oil Production first in the u. S. And in other countries around the world. Youre seeing this depression on the price, but let me correct you on one thing. You said the costly oil and gas war, well, yeah, its costly for the companies but it aint costly for consumers, right . [laughter] stephen we have to do something to give a rise to the companies because if you go some of those places in texas and oklahoma and pennsylvania and ohio now, they are shutting down the wells really rapidly so theres going to be some relief and youre seeing it now with the rise in prices. Cheryl i know, lee carter, jump into this. Stephen makes a great point that we have incredible by retail low gasoline prices and we cant go anywhere. Lee it is a really fascinating time because usually when prices of gas are low, it makes people feel better than the economy because they can go places and theres a lot of benefits to overall feelings and sentiments but now youre right, this is a very unusual time where we cant enjoy the gas prices because we are all stuck at home, so i think one of the things that we will be seeing too is if the president going to get the benefit of any of these kinds of things that do make americans feel better about the economy. Look at peoples opinion of the economy and what they are afraid of. Its really, really bad and youre looking at a president who has always. The thing that people have said no math what, i might not support him in all the things but the economy is what hes good at and i think thats a big problem for him. Cheryl i agree. Mattie, i want to bring you in, the president said that he might use tariffs on oil if he had to. At this point hes still optimistic that theres going to be an agreement. Hes asked about that in the coronavirus briefings. Obviously we will have to see how the president , you know, responds to what the saudis and the russians do but that, you know, the tariffs on oil import is still kind of out there. Im not sure the oil ceos like it, mattie, but the president considered it in the past. Tariffs on import, increase prices here at home. That would be a price effect that americans would feel at a time when we are entering a recession and americans are concerned about their household budget, so i think that tariffing import at this point could potentially backfire for the president. You know, there are a number of other proposals out there to try and combat some of the opec countries, senator dan sullivan from alaska suggested that we perhaps we shouldnt be sending so much money if thats the way they are going to treat the energy glut. Thats probably a more effective route. The president needs to continue to negotiate with the allies and continue to use the full economic crux of the United States. So we certainly have more cards to play, perhaps, than other actors particularly in the energy space. Cheryl thats a really good point. I have to say, steve, as we wrap it up, who thought that going to the gas station was one of the most excited things that we as americans could do . [laughter] stephen i havent driven my car in weeks. Theres a big political dimension that we should all be thinking about here. Think of the states i mentioned, pennsylvania, ohio, new mexico, those are battleground states. Donald trump obviously dont want to go into november with with a depression in the oil patch states where it could be very possibly in terms of who wins those big, big electoral rich states. Cheryl he wants the economy open as soon as he can and they are working on that at the white house, potentially a second task force to do that. We will see you in a few moments. A lot coming up and stay with us because we are staying grounded. How ourlines are fight to go keep customers safe while struggling to stay in the skies, we will be talking about that coming up next. 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. Cheryl oil extending yesterdays rally, we are look agent the contract right now. It really has jumped a lot and as you can see we are up almost 7 . A contract is inches higher. A lot of news in oil today. Remember oil in this fight between saudis and russians one of the big things that kicked off the bear market. Worlds Largest Oil Producers will be meeting today virtually 10 00 a. M. Eastern time. Investors are hoping that they will cut a deal to cut production maybe 8, 10 millionbarrels per day, thats the hope at this point but that has been a price war. Lets bring in jeremy. We have high expectation that is the saudis and russians can do something. President trump is optimistic. Are you optimistic . Good morning, cheryl, and thank you for having me here with you this morning. We certainly live in extraordinary times and hearts going out to people suffering from the coronavirus. The price has rallied significantly. 10 millionbarrel cut is effectively what we believe is actually embedded into the process. The expectation, and we have to see what happens this afternoon. What i will say initially undertaken by the president and by the administration in trying to get all parties to give to cut production is positive initiative for the oil industry longer term. The industry is in severe distress and severe oversupply. Cheryl jeremy we were talking about what is on the u. S. Front and the Big Energy Ceos at the white house and asked by republican lawmakers, pushed, if you will, to maybe put tariffs on oil on import that we are bringing particularly from the middle east and he didnt really commit to that. He said maybe but the ceos dont really want to see that and u. S. Shell producers as well, how likely are tariffs if we dont see the cut from opec and the russians . Speaking truly as a physical Market Participant and not politics, certain are required to blend and refine properly. If those import, it probably can have a negative impact on the refinery production and their efficiency level. Cheryl thank you for weighing on the topic. We will be following the news at 10 00 a. M. Eastern time, everybody, we are hoping to get the headlines out of the Virtual Meeting between opec and the russians and obviously somewhat of a price war between the two and a lot of that has seemed to have fallen on the russians. Lets bring in lets talk about the airlines, they have shut down basically but jet fuel was cheaper for them for the rest of the year. Also good news, they are told that they have to give customers refunds for canceled flights. Thats a big story as well. Lets bring in boyd Group President mike boyd, mike, good morning. Mike good morning, cheryl look, obviously jet fuel is one to have most expensive things they have. Airlines, they put in place negotiated contracts but those contracts are only six months, a year, now they have no customers, capacity has been destroyed for the airlines. Theyve obviously gotten bailout money, looking for bailout money from the government. Is there one bright spot for the industry that you can see it right now . Mike theres nobody on the airplanes. Its kind of a wash. The longterm is prices stay down like that. Good news for the airlines, real bad news for boeing and air bus, you will not need new airplanes to save fuel, you can pick up orphans sitting all over the world. Cheryl they were hoping to get those planes back up in the air this fall. The new issues for boeing seem to be something thats got a lot of people concerned that that isnt going to return at all in 2020. Mike its going to be a real problem. The industry is not going to need a lot of new airplanes. 15 on fuel. Opec took care of that already. I think the real issue for boeing is not so much the glitches, where are you going to sell. Huge numbers of cancellations. For example, chain china will have 600 extra. Boeing in a lot of trouble. Cheryl airlines are being told you have to refund people when flights are canceled or they cancel themselves. I cant believe we have to tell airlines to do that. You made a commitment to fly regardless at some point. You cant get me to omaha for a funeral for a pandemic, i would really like my money back and no, i dont want to keep it in your bank account for a year with a lot of fine print. Cheryl mike boyd, thank you very much, good to see you. We will be right back. Mike thank you. 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. 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 . Cheryl well, the nfl 2020 draft is going to be happening just virtually. Team personnel are working from home for the leagues largest off season event. Certainly one of the biggest events when teeing up the season. I want to bring in the panel and talk a little bit of football because at this point, lee carter, we need football and hope it comes back. What do you make of the fact that its a virtual draft for the league. Its going to look incredible by different. Lee its going to look so different. One of the things that im hopeful about with all kind of fun that you can have around the draft, im hoping that they can make virtual fun. We all need a distraction, we need a moment and we we want to root for our teams and think about making chilly and watching football in a time of happiness and relaxation rather than the situations we are in. We are hoping that we can come up with fun games. Cheryl part of the draft that i always love seeing is the players with their families, you know, they are sitting at their coaches and they have the live shot and they find out which team they are going to. Im thinking we might get that effect despite social distancing when they are there with wife and children and mother and we might get the smiles and the joy. Stephen youre asking me that, cheryl . Cheryl yes, steve. Stephen it shows the power of football over our society thats in the last 5, 6, 7 years, people love to watch it. Im getting sick on turning on the sports stations and all you hear is what team this guy will go and that guy. Im going to watch that draft on the virtual draft. I think itll be kind of cool. Cheryl curious to see how its going to affect the players, mattie, at the same time our hope of whether its baseball or basketball or football coming back, the question mark is how comfortable are people going to be eventually and when getting together in a stadium, mattie, final word. I think thats true, listen, your point about how this can be connected remotely with the draft i think we will remind people that we will get together had celebrating sports soon once again. Cheryl well said i might be crazy but 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. 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. There are times when our need to connect really matters. 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. 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. Cheryl and good morning. Im Cheryl Casone, im in for Maria Bartiromo today. And it is thursday, april 9th. Your top stories at 7 00 a. M. Eastern time. An update on the state of the labor market amid the coronavirus pandemic, initial jobless claims going to be out 8 30 a. M. Eastern time. Economists are expecting 5. 25 million americans filed for unemployment last week. Some estimates weve seen, over 9 million. The range isal over the place. This is nearly the 10 million who filed over the last two weeks, we will have that breaking news, 8 30 a. M. Eastern time initial jobless claims. Markets are searching for direction ahead of that number. Weve had a lot of back and forth over the last hour andahalf. The big news was yesterday, the signs of the spread of the virus was stabilizing in some hot spots led to a big rally on wall street yesterday and as you can see, the dow gained 779 points, nasdaq gained more than 2 andahalf percent, s p almost 3 andahalf percent. S p 50 500 entered a bull market yesterday. The u. S. Coronavirus death toll has topped 14,800. There are signs the spread is slowing in some hot spots, some cities. The cdc issued guidelines to get essential workers back on the job after being exposed to the virus. Were going to talk about that. A battle is brewing in congress over additional stimulus. The Trump Administration requesting 250 billion. Democrats are looking for an additional 500 billion. Our eyes are on washington this morning, as well as this, fed chair jay powell giving an update on the economy and actions taken to combat the impact of the virus today at 10 00 a. M. Eastern time. Investors will be listening to what more we can connect from the fed and what he thinks about the pandemic today. Spotlight on oil, investors are watching this mornings virtual opec meeting, that will include the saudis and russians. Look at oil right now, positive expectations, oil up over 7 . Were still on that 20 range, 26. 88 right now but theres hope of an agreement that would cut production, bring an end to the price war, maybe eight, 1 10 Million Barrels per day. Senator person ben dropping out of Bernie Sanders dropping out of the president ial race, leaving former Vice President biden the presumptive nominee to go against President Trump. Mornings with maria is live right now. And checking on the Global Market action, european markets, as you can see t ftse is higher by a little more than 1 , cac in france down slightly, germanys market slightly higher. We have seen a little bit of a slowdown in the virus spread, especially in italy and hardhit spain and there is optimism growing across the european continent that there is a slowdown in new cases and in the death toll. Meanwhile, want to give you an update on u. K. Prime minister Boris Johnson, he remains in intensive care, battling the coronavirus but his condition reportedly has improved this morning. Now lets take a look at asia overnight, markets were mostly higher except for in japan, slight loss for the japanese market. Hong kong announcing nearly 18 billion in new stimulus, mostly that money will focus on helping workers impacted by the virus there. And joining the conversation with me this morning, i have got lee carter, mattie duple, Stephen Moore. Good morning to all of you. Cheryl good morning. Cheryl so much to talk about with you. We want to take a look at the top stories were following this morning. Isis claiming responsibility for a rocket attack on american troops overnight. Five rockets were fired at the air base in afghanistan, the militarys largest base in the country. No troops were hurt, luck ely. The attack coming amid stalled peace talks between the taliban and afghan officials. Bernie sanders is out of the race, making joe biden the presumptive 2020 democratic nominee. The vermont senator was once a frontrunner for the nomination but the momentum shifted on super tuesday, you may remember. Sanders congratulated biden, stopping short of endorsing him. Sanders will still collect delegates in the remaining primary races, an effort to influence the partys platform. New york saw its deadliest day since the coronavirus outbreak. 779 deaths. But we do have positive news coming from the cdc. Officials say some essential workers like those that work in healthcare and food supply who have been exposed to covid19 but are not showing symptoms can actually return to work. The cdc says the workers should take their temperature before heading to work, wear a face mask and practice social distancing. Well, more positive news, nearly 24,000 people have recovered from the virus in the United States, that is so far as of this morning. Well, this next story is definitely going to lift your spirits, we hope just a little bit this morning. This is mrs. Jones, she is on her road to recovery from covid19. Healthcare workers cheered and cleveland as she clapped as she was moved out of intensive care yesterday. She is the first party at the hospital in georgia Strong Enough to make the move out of the icu in the hospital. Mrs. Jones is resting in her new room this morning and she has been reunited with her two sons. Hopefully more recovery stories well be able to bring to you in the near future. Boeing and airbus two Major Players in the Aviation Industry reportedly are facing new challenges from the pandemic. Airbus cutting production of its a320 jet by a third to 40 a month. The plane competes against the boeing 737 max which boeing hoped will win federal approval to carry passengers later this year following two deadly crashes. The company expecting to release the latest report on monthly deliveries, thats going to be next week. Stock is up almost 2 in the premarket. Well, big story today, the senate is poised to take action. Majority leader Mitch Mcconnell is set to approve another 251 billion for Small Businesses in front of an empty chamber later this morning. House democrats could pass their own plan tomorrow. The senate and the house would either have to mend the two bills together or it could set the stage for a phase four coronavirus package. President trump weighed in on all the possibilities yesterday. We do not have time for the partisan games. We dont want that, the obstruction or totally unrelated agendas. We want to do this for the Small Businesses and the workers and we can do a phase four and a phase four will be later. This will be an expansion of what weve already done because its so successful. The 350 billion will be expanded by hopefully 250. Cheryl joining me now via phone, House Armed Services committee member, congressman john garamendi. Congressman, good morning. It is a good morning and an early one in california but delighted to be with you. Cheryl always good to talk with you, congressman. Weve spoken to each other for years now. Certainly our hearts and prayers go out to the folks in california. I want to start with this comment from President Trump when he spoke yesterday, he was talking about when the country could potentially reopen. I want you to listen to what the president said about possibly reopening the country. I know were talking about california. Listen to this, sir. It would be nice to be able to open with a big bang and open up our country, or certainly most of our country and i think were going to do that soon. You look at whats happening. I would say were ahead of schedule. You hate to say it too loudly because all of a sudden things dont happen. But i think we will be sooner rather than later. Cheryl so congressman, i know youre against lifting restrictions in california but at some point we have to reopen the economy. A lot of talk about doing this in phases. What would you like to see happen . Can we be hopeful that california can get back to business like the rest of the country . Well, the rest of the country is not back to business in the first place and california does have very strict stay at home and requirements in place all of which seem to have the effect of slowing down the effect of the pandemic here in california. All to the good. The curve that we were anticipating is not quite as fast or steep as anticipated. Thats good news. Im very, very cautious. I want to listen to the experts. I want to hear what fauci and birx have to say. The president is interested in things for a variety of reasons, certainly the health of the country but also the politics as they affect him and his reelection. Cheryl congressman, let me clarify what im saying here. The talk is that maybe the country opens up in waves, maybe the east coast begins to open up and then it goes across the country, but the epicenter here is in new york, new jersey. That is where the virus seems to be the strongest. California has done very well in containing the virus. So at some point maybe this is im not saying its a one size fits all but how do we do this in your opinion . Does the city make the decision . Does the state make the decision . Is it the federal government that gives the green light . I mean, we have to reopen the country at some point. How it happens well have to figure out. But it needs to be sooner rather than later, dont you think, congressman . I think the word sooner depends upon what is the virus, how is it being projected across the nation. If we open too soon, that is the virus is not contained, and we frankly do not have sufficient testing both of the effect, the presence of the virus, antibodies that have been developed because people have had the sickness, we really dont know. We go back to what we talked about at the beginning, testing, is the community safe, are people that are transiting from one state to another state, are they safe. Have they had the infection and are they at lower risk because they have the antibodies in their body . Those are things we dont know because even if this is three months into this, we really do not have adequate testing out there. So i would say that the principal issue is testing. We said that three months ago. Were saying it now. Get the testing out there so we know that people are healthy or they are sick and then from there we can then determine whether a particular company or particular operation is viable to opening because people are immune or have developed immunities or they are not sick. Cheryl well, congressman certainly i know that were awaiting on the initial jobless claims and the unemployment picture is devastating not just for california but for the entire country. Were going to be looking for that and how frankly maybe Mitch Mcconnell and the senate can step in today and add help to Small Businesses. A lot going on. Congressman garamendi, thank you for being here. Always, byebye. Cheryl we are just Getting Started this morning. We have a lot more coming up during the hour. Former House Speaker Newt Gingrich will weigh in on Bernie Sanders ending his president ial bid. Dr. Nicole saphier will be here on the cdcs guidelines for essential employees. Coming up in the 8 00 hour, choiwyoming senator john barossn calls for more emergency funding. Weve also got scott renn, on what investors are watching and father john jenkins is here on how to keep the faith during holy week. Coming up, futures edging slightly higher now, well, not slightly, a lot higher. Weve seen a jump in futures literally in the last five minutes. Look at this. A volatile morning for futures, now the nasdaq turning negative by a point. It could be a record week of unemployment. Were getting the numbers, 8 30 a. M. Eastern time, well break down the state of the u. S. Economy coming up. Life isnt a straight line. And sometimes, you can find yourself heading in a new direction. But when youre with fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. A partner who makes sure every step is clear, i am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. 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. Cheryl markets searching for direction this morning after a volatile week so far on wall street. The dow climbing 3 by the close yesterday. The s p by the way has gained 11 just this week. We are expecting another surge in initial jobless claims later this morning. Estimates point towards the average 5. 25 Million People filed for unemployment last week. That follows nearly 10 mill over the two weeks prior. It has been a rough couple of weeks for initial jobless claims and unemployment. Lets bring in mark mattson. Mark, good morning. Good morning. Good to be with you, cheryl. Cheryl lets talk about initial jobless claims. Theres a huge range we should say and weve seen this the last two weeks. The range today ive seen 2 million claims, ive even 9 million claims. Where are you at in what you think were going to see today . The estimate is 5. 25 million. Its hard to actually know what the number is. My message to investors is no matter what the number is, its easily become fearful and feel pain and insecurity in these times but investors no matter what the number is today have to stay longterm focused. The s ps down about 14 so far this year. Even though its rebounded. But theyve got to stay focused on the next 20 years and not the next 20 minutes. Do not panic in these volatile markets. Cheryl well, that leads me to what a lot of analysts have been saying. Obviously theyre trying to call the bottom, did we see the bottom on march 23, 24th. Morgan stanley came out with a note yesterday and basically said they dont think well hit the lows we saw back in march. Its anybodys guess. A lot of folks are nervous by what theyre seeing and a lot of average investors have moved more into cash. Is that what youre telling your clients . No, were telling them the exact opposite. Youre absolutely right, theres approximately 1. 4 trillion sitting in cash right now. That Retail Investors have put on the sidelines. 350 billion of mutual funds, the equity mutual funds were sold off last month. This is a big mistake. When markets are down, investors have to think of a longterm opportunity and its a permanent wealth transfer for the people that panic to the people that are smart enough to buy and dont try to wait to find the bottom because no one knows where the bottom is until youre 10, 15 years out into the future. Its the hardest thing to do for investors. Cheryl i understand that. The other thing too though is that this is i mean, its not just that were watching numbers on the tape here. I mean, this is americans lives are being affected, especially Small Businesses. A lot oa lot of our viewers areg at home and their business is shut down. There is talk the senate will approve another 250 billion for Small Businesses. We know the banks are trying to get the money out to the business as fast as they k do you think that would stave off the worst predictions of a recession . I really dont think it will. I dont think this is going to get better. Im not a doctor. But ky tell you that the economys not going to heal until people go back to work and they are able to go back to their businesses. 2008 and 2009, it was Small Businesses that took us out of it, not the big companies. Entrepreneurs will take us out of this one too. You have to take the handcuffs off eventually so they can get back to work and do their job of creating the American Dream. The American Dream cannot survive with everybody staying at home. And im not a doctor but whenever this is over, the entrepreneurs will take us out of this. Cheryl mark mattson, thank you for being here. Weve got a lot more coming up, a new milestone for disney plus, the streaming service sees a record boom in subscribers, reaching the fouryear goal in months, stock flying up on the news, up almost 6 in the premarket. Disney at 107. Well be right back. To help you stay informed of the latest news just say coronavirus into your xfinity voice remote to access Important Information and special reports from around the world. And to keep your kids learning at home, say education to discover learning collections for all ages from our partners at common sense media, curiosity stream, history vault, reading corner and many others. For more information on how you can stay connected, visit xfinity. Com prepare. Cheryl well, some good news for disney, the company seeing a major jump in subscribers to the streaming service, disney plus, surpassing 50 million for the first time, an increase of more than 20 million subscribers since the company last reported in february. The coronavirus pandemic has led to increased streaming across all platforms. Disney plus has been releasing films early like frozen 2 and onward. The company has a way to go to catch netflix. Its subscribers topping 160 million. Mattie, we knew the streaming companies would get a big boost. Is this a better story for disney than you thought . Its a better story for disney for a couple of reasons. Remember the guy thats the head of streaming and director consumer for disney was initially thought would be the person who would take over for bob iger when he announced he was stepping away from the ceo title. This shows that keeping him in this role was the right move and a vote of confidence of what the streaming services could do. Disney is making the right moves, making early releases when everyones at home, looking at new content to binge. We know content is king. Particularly now when everyone is stuck in their homes, looking for things that they can do without leaving their house. So i think disneys really playing this right. Im excited to sig see where thy can go for the next year. Cheryl lee carter, you must be emitted that disney excited that disney has new things coming out. Lee the timing is extraordinary, people are home schooling, the kids are home, people are trying to work, juggle lots of Different Things at the same time. Its the perfect time to have Disney Streaming service. My question is going to be, how are they going to keep the loyalty once the kids go back to school, once everybody is back to work. Is it going to be something, this is a shortterm fix or longer term strategy. I think there are questions about that. So as theyre getting loyalty, is it going to be enough to have the content that were watching right now, how are they going to create the kinds of things that will hook us in the same way that netflix is. Cheryl could that point, i have to say that so many ways we live our lives will be different after the pandemic is over. I think the way we absorb content is going to be different. I have to say, thats an economic story for the entertainment and for all of us, how we interact and how we consume. Stephen lets take the example of disney, absolutely their streaming service is doing very well. Theyre going to make a lot of money off of this in the months to come. But guess what, cheryl . They also own disney world and thats a place you actually have to go to with large crowds and whats the news now that theyre not going to maybe even be able to open up until potentially 2021. So thats huge losses for elements of the disney franchise. Well see how they deal with that. But once it gets bac back tos idea that were you talking to mark about. Until we get the economy reopened, all of these kind of businesses that depend on customers are in really bad shape. Its why the president cannot slip past may 1st for a deadline in terms of getting the economy reopened in my opinion or else youre going to see a lot of economic damage. Cheryl i know what youre talking about with disney theme parks and they talked about temperature checks, about getting essential workers back into the parks but obviously americans are going to need some disneyland and disney world and a lot of other things when this is all over. Light at the end of the continue, right, guys tunnel, right, guys. Well see you in a little bit. Coming up a twopete, forbes unveiling the list of youngest selfmade billionaires. Were going to tell you who snagged the top spot for the second year in a row. Well be right back. Im greg, im 68 years old. I do motivational speaking in addition to the substitute teaching. I honestly feel that thats my calling to give back to younger people. I think most adults will start realizing that they dont recall things as quickly as they used to or they dont remember things as vividly as they once did. Ive been taking prevagen for about three years now. People say to me periodically, man, youve got a memory like an elephant. Its really, really helped me tremendously. Prevagen. Healthier brain. Better life. Cheryl welcome back. Im Cheryl Casone in nor Maria Bartiromo. It is thursday, its april 9t april 9th. Your top stories, 7 30 a. M. Eastern time. Markets are searching for direction ahead of the weekly jobless claims. Weve seen a lot of back and forth, a lot of volatility in the futures market in the last two ours. The dow is down 132, s p down 21 andahalf, nasdaq is down 56 and three quarters. We were up just a few moments ago. All of this could change at 8 3, economists are expecting when we get the initial jobless read, 5. 25 million americans filed for unemployment last week. We have seen some estimates even higher, over 9 million. We will get that number the minute it hits the tape, 8 30 a. M. Eastern time. Now, the signs that we started to see yesterday that the spread of the coronavirus is stabilizing in some hot spots did lead to a strong rally for markets yesterday. The dow gaining 779 points, nasdaq up 203, s p up 90 points at the close and change. By the way, the s p 500 entered bull market territory yesterday. We are watching oil this morning very closely. This virtual opec meeting is going to include the saudis and the russians, 10 00 a. M. Eastern time. As you can see, oil has now actually headed well, fractiofractionally higher but l retrenched over the last 15 minutes or so, now were heading up higher just a little bit, one andahalf percent, a lot of volatility in the oil market. Will we get an agreement to cut production, bring an end a to te price war. Well get the news to you at 10 00 a. M. Eastern time on fox business. Now take a look at whats going on in europe, this is the Global Action we watch every day. The cac and dax are in the red right now. There is optimism growing that the spread of the virus is actually slowing down across europe. Meanwhile, want to update you on u. K. Prime minister Boris Johnson. He does remain in intensive care. He is battling coronavirus. But his condition reportedly is improving. Now to asia, want to take a look at those markets overnight. As you can see, green across the board except for the nikkei which lost a bit of ground at its close. Hong kong announced 18 billion in new stimulus, focused on helping workers impacted by the coronavirus. Well, a line of storms blowing through central indiana. Jackie deangeles has more on that. Good morning. Good morning to you, cheryl. Thats right, the city of franklin reporting significant damage with downed trees and power lines. Winds of up to 75 miles an hour blowing roofs off buildings. So far, no reports of serious injuries. And georgia senator Kelly Loefler is selling all of her stock, the senator has been criticized for making trades before the market tanked during the coronavirus pandemic. Her husband, jeffrey spriker chairs the new york stock exchange. Loffler says she hopes this will end the distraction. Starbucks says the pandemic will slash Second Quarter earnings roughly in half. They are blaming a drop in sales in china and the u. S. , the two biggest markets. Starbucks with drawing their annual guidance. The companys earnings will be released on april 28th. Kylie jenner, the worlds youngest self made billionaire general, topping Forbes Annual list for a second year in a row. The outlet estimates jenners worth at 1. 2 billion. She is just one of 10 billionaires under the age of 30. Kylie is doing some good with all of that money. She donated 1 million to the Coronavirus Relief efforts, cheryl. Cheryl but did she get that money because of herself or because shes a kardashian . Well, its tough to say but i will say early on in the kardashian years, i didnt think kylie was the one that was going to skyrocket to the top. Cheryl who saw that coming . Jackie, thank you for the update. Well, vermont senator Bernie Sanders officially ending his 2020 president ial run, sanders made the announcement yesterday during a live stream. Lets take a look. While we are winning the ideological battle and we are winning the support of so many young people and working people throughout the country, i have concluded that this battle for the democratic nomination will not be successful. And so today i am announcing the suspension of my campaign. Cheryl well, this virtually guarantees a faceoff between President Trump and former Vice President joe biden in november. Joining me now the former speaker of the house, author of the new book, shakedown, Newt Gingrich. Newt, good morning. Good to see you. Cheryl first off, your thoughts on what you saw yesterday when bernie dropped out, what do you say . Well, i agree with President Trump who said hes dropped out except hes keeping his delegates and hes hoping to get more delegates and presumably thats to influence the platfo platform. Groups of younger left wing democrats all sent a letter to biden yesterday, saying that there were things they wanted in the platform if they were going to support him so i suspect what youll see is that sanders will now lead and ideological fight over the platform and that there will be a real effort to push biden much further to the left than he would normally be. Cheryl you know what, newt, i think youre already seeing that. The numbers back up your point. Because if you look at his agenda and its a great piece in the wall street journal this morning about this. He says Free Community college, free four year universities if families earn under 125,000, tax increases, 3. 4 trillion. His Climate Change plan could run 1. 7 trillion. I dont think that these are really things that joe biden, the former Vice President at the time, would have pushed through but i think its the sanders effect that has now pushed him at the whole party so far left. These are social spending programs that are dangerous and were already dealing with a huge federal deficit. Well, and you saw that when you saw Speaker Pelosi trying to add a whole series of left wing ideas to the program that was passed just last week. So theres going to be constant pressure on the left and what i cant quite tell is whether biden is actually better off to just be quiet because every time he goes out and tries to do something, he makes some kind of a gaffe like not remembering how many grandchildren he has or not remembering what hes running for. There are a number of if you look at things he said that mystify you, he may actually be better off to just be quiet from now until the Democratic Convention in august and allow President Trump to not make it based on what hes doing. Because if the issue becomes biden and biden loses, if the issue is trump, i think biden has a shot. I think hes the underdog despite the national media. I think trump will be very, very hard to beat. Cheryl despite the gaffes that the Vice President had always been known for, this is when he was office under barack obama, despite all of that, do you think he turns more of a socialist tact to make sure he gets the bernie supporters. There is a fear among some that some of the bernie supporters would actually go over to President Trump. Im sure President Trump would love to have those voters. Does biden actually start to become more of a socialist and does that mean weve got a socialist versus capitalist ideology fight happening in november . Theres no question, youre going to have a fight between the antibusiness, antientrepreneur, socialist left, i mean, just look for example at the reality that now were relying on all the pharmaceutical companies to try to help us find therapies and try to help us find vaccines. These are the very companies a that liberal democrats have been attacking for years. Or look at the private companies that are now making ventilators. Look at the companies that are now making testing kits. All of these are examples of a free enterprise, entrepreneurial system that is vastly more productive than a government dominated socialist system. But on the left, their idea of recovery is going to be how much more money can i give to local governments and Public Employee unions and not how do i once again back to the kind of economy that obama couldnt deliver and that trump did deliver. Cheryl if we get back to the economy, this is the third quarter, the Fourth Quarter of the year. By the way, biden had already committed to choosing a female running mate. I want you to listen to what he said last month. If im elected president , my cabinet, my administration will look like the country and i commit that i will in fact appoint pick a woman to be short list. Cheryl heres the short list. Your thoughts . Well, first of all, i think given how far the left the Democratic Partys going, im surprised they didnt also want to include a transgender person as a possible Vice President al nominee. I dont know why he would restrict it only in that sense to women. Second, i think it depends his big concern is going to be turning out the African American vote so i think hes almost inevitably going to lean towards somebody like Kamala Harris because i think that shes the only one who gives him any hope of trying to get an obama return. Cheryl klobuchar certainly helped him on super tuesday. It will be interesting to see his eventual decision. Good to see you. Good to be with you. Cheryl weve got a lot more coming up. A cat fight, Netflix Series tiger king being crowned add quarantines roaring hit, its become so popular, it has made its way into the white house. 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. Cheryl the coronavirus pandemic, the u. S. Death toll has topped 14,800 but there are signs the spread is slowing in some hot spots. The cdc by the way has issued guidelines to get essential workers back on the job after being exposed to the virus. Listen. We put out a new guidance for essential healthcare workers who have been exposed to the coronavirus. They could go back to work if they do several things. As we say here. Take their temperature before they go to work. Wear a face mask at all times. And practice social distancing when theyre at work. Cheryl steve moore, what did you make of these new guidelines . First of all, im so insulted, cheryl, by this idea that half of americans are nonessential in their job. This is sort of the arrogance of washington, that says only some americans are essential in their job and others arent and, look, every american who works is an essential person to our economy. Cheryl for sure. We need to vastly expand the definition of who is essential in the weeks to come as we get this economy reopened. And you may not want to start with opening up bowling alleys but you want to get steel factories back up and running, you want Food Processing centers, you want social distancing in the workforce. We have at least 50 of the economy is up and running, cheryl. The most interesting thing what were finding, whether a Trucking Company or a big company like amazon or fed ex, they are not seeing big outbreaks of the virus among their workforce because theyre using best practices. And this is what trump has to do, its really critical at this point. Start to open up the economy, use best practices in terms of keeping workers safe and we know from companies that are already open that can work and that can get our econom economy back up d running. Cheryl mattie, i want you to get into this. We talk about large corporations and yes they are to steves point doing a good job at keeping a lot of facilities clean and healthy. This is the new normal. At the same time its the Small Businesses were worried about, mattie and theyre the ones that would love to come back to work. I know plenty of people working at restaurants in the city that are dying to come back to work. Thats not a joke. They literally want to come back to work and be part of the community and the business again. These guidelines could open up that door. Cheryl, youre exactly right. Listen, its not just the fact that we have Large Businesses that have implemented protocols that are keeping their workers safe. It is the interaction of all of these different protocols put together that has helped us flatten the curve. We cant get too ahead of ourselves to say that opening up every business is the reaction that we can take because we dont know yet which of those protocols we can diminish with success at keeping the virus at bay. So youre absolutely right, these big corporations that can implement protocols across the entire country, we need more of that clarity. We also need Small Businesses to continue to get support that they need to slowly come back online. A lot of these Small Businesses probably dont know how to scale in incremental ways. Theyre not going to be able to come back online at full capacity because they wont have a full customer base. The sba needs to issue guidance so Small Businesses know how to scale accordingly until they can get back to full capacity. Cheryl lee carter, i want to give you the last word here. The Vice President i think has been doing a great job of giving glimmers of hope to americans. He said there is signs of sterileize stabilization in some of the hardest hit states but we have to follow the guidelines, lee. Can we do it as nation, can we . We absolutely can do it as a nation. Were seeing the nation come together and unify and do the right things right now. I think there are a lot of folks that have questions on why there would be one set of rules for essential workers and one set of rules for everybody else. I think theres some explanation that needs to happen so that people can feel more confident. All of this is going to be about peoples confidence and trusting in the ability to go back. Cheryl i love what steve said, that we are all essential, every american, every worker is essential especially in this day and age. Guys thank you very much. Well be right back with you all of you. We have a lot more coming up. Netflixs roaring hit, fans going wild for tiger king. Hitting 34 Million Viewers in just 11 10 days. Can viewers expect a bonus episode . Weve got that when we come back. Ent. Its a voice on the other end of the phone. A note to say youre on our mind. A willingness to come to you. The world and how we interact with each other is changing. But that will never change who we are at lexus. Now, more than ever, you and your needs come first. Find out what Service Options are available in your area at lexus. Com people first findthe xfinity my accountons app puts you in control with Digital Tools to give you the help you need when you need it. Get fast and easy answers with personalized help 24 hours a day, 7 days a week. Change your wifi password to a phrase thats easy to remember. Even troubleshoot your services on your own. Were working to make things a little easier for everyone. Download the xfinity my account app today. My names joe exotic and this is sarge. He was a mythical character who owned tigers and bears. I learned from them. Carole keeps saying i cant have these tigers. If he ever had an enemy in his life, it was Carole Baskin. Carole is the mother theresa of cats. W listen, this is my way of living and nobodys going to tell me any other way. Cheryl yeah, in case youve been living under a rock, that was a clip from tiger king, the netflix hit documentary showing the rise and fall of Exotic Animal zoo keeper, joe computedic. Exotic. His feud with Carole Baskin spanned over seven wild episodes. The show has proven to be a huge boom for netflix, reporting 33. 4 million unique viewers in the shows first 10 days online. It even reached the highest office in the country. Listen to this from the White House Briefing yesterday. One of the biggest rating hits of the coronavirus aside from these briefings has been a show on netflix called tiger king. Your son yesterday jokingly said that he was going to advocate for it. I was wondering if youve seen the show and if you have any thoughts on pardoning joe exotic. Which son . Must be don. I know nothing about it. He has 22 years for what . He allegedly hired to kill an Animal Rights activist. Are you recommending a pardon. Ill take a look. Is that joe exotic. Thats joe exotic . Cheryl people cannot get enough of this crazy story. Investigation discovery green lighted a limited series that promises to examine more of joe and caroles lives, plus this monday, april 13th, fox is going to air an hourlong special about the series subjects presented and investigated by tmz. Lee carter, you like me watched the whole thing. What do you make of joe exotic . Okay. First of all, i could not get enough of this. It is such a relief to get away from all of our worries and all of our concerns and think like this is even happening. I think the most disturbing character in all of this is carole, because cheryl what . Shes supposedly an Animal Rights activist and she is just ah, like anyway, i think its amazing when you think about it, 35 million americans, you think about theres 130 million households, if you think about how many households have watched this to get through our quarantine together, its absolutely extraordinary. Its a shared experience, something to talk about and we should talk about the music videos. Cheryl mattie, i want to bring you into this. I watched it because i kept getting yelled at to watch it by certain people in the building. I finally did. I disagree with lee. I thought Carole Baskin i know what shes trying to do i dont personally like zoos and i think the wild cats and the whole industry should be shut down. Just my personal opinion. But i will say, mattie, that to the point of we were watching something so insane, so crazy, i mean this is some of the worst humanity on display on the show, mattie and people are grabbing at it and i think thats the bigger story here. Well, so for one, i want to know how lee does it because i also have a young baby at home and im trying to parents and work fulltime. I have no time for Binge Watching. But i have seen the mania about tiger king. It is very interesting to me, cheryl. I think that lees point was actually correct. People want to be brought outside of their own circumstances right now. Theyre looking for entertainment that has no mooring in what theyre currently experiencing. A guy in oklahoma with a tiger farm is probably about as far away as you can get from everyones individual reality right now and thats why this thing is a hit. It defies our own sense of reality and its transporting people away from their living rooms to something they cant even believe is happening in the United States. Cheryl okay. Lee carter, yeah, how are you Binge Watching with a baby at home who just turned one, by the way. She just turned one last week so we had a zoom party and i wonder if thats even safe. But im doing it because she goes to bed at 7 30 and i need to escape for just a couple hours each day and it gave me the per expect excuse. Perfect excuse. I want to know whats going to happen to fashion trends as a result of all of this. Theres a big trend toward help leopard and animal prints and i wonder if people will say i dont want to look like carole. Cheryl i would dress up in cat attire but im a cat person. Thank you very much. Weve got a lot more coming up. Wyoming senator John Barrasso is going to weigh in as Congress Fights for a fourth round of stimulus. Thats in the next hour. And jobless claims, mornings with maria, well be wright back. 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. 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. Cheryl good morning. Im Cheryl Casone for Maria Bartiromo. It is thursday, april 9 your top stories 8 00 a. M. Eastern time, updated on state of labor market amid coronavirus pandemic initial jobless claims coming out in a half hour economists expecting 5. 25 million americans filed for unemployment last week, some estimates may have seen above 9 million range all over the place for todays number, and this number on top of the nearly 10 million who filed over the last two weeks. We will have numbers for you live 8 30 a. M. Eastern time as soon as they hit the tape. Markets are searching for direction, ahead of that number again is going to be could be a blockbuster number dow down 102, down 97 premarket s p, nasdaq lower as well, now, signs of spread of the virus stabilizing in shot spots a strong rally yesterday yesterdays numbers dow gained 779 points nasdaq gaining almost more than 2 1 2 s p gaining almost 3 1 2 s p 500, by the way, did enter a bull market yesterday. Now u. S. Coronavirus death toll topped 14 800 there are signs it is in hot spots cdc issuing guidelines to get essential workers back on job after being exposed to the virus. There is a battle in congress over additional stimulus Trump Administration, requesting 250 billion dollars, the democrats looking for additional 500 billion dollars we are watching, washington today jay powell going to give update on the economy, and actions taken to combat the cutback of the virus going to be 10 a. M. Eastern time this morning, investors are listening closely for clues what more we can expect from the fed as virus takes over the country. Spotlight on oil movement this morning, we actually were up 7 , we were down a fractionly right now oil, is up almost 3 1 2 , there is a virtual opec meeting today, 10 a. M. Eastern time, this meeting includes the saudis and russians, oil is rising on hopes there is going to be an agreement to cut production bring end to price wars especially between those two nations, then there was one. Senator Bernie Sanders on dr. Ing out of the president ial race leaving former Vice President biden Presumptive Democratic he nominee to go with President Donald Trump mornings with maria is live now. A look at Global Action for your markets over in europe, as you can see, we have green across the board, the ftse, cac 40 dax all higher, there is optimism in europe, that the spread of the virus is starting to slow down especially, in hardhit italy hardhit spain, uk Prime Minister Boris Johnson in intensive care this morning battling the coronavirus but his condition reportedly has improved in asia markets mostly higher japan slight loss knee tay hong kong announcing 18 billion dollars new stimulus mostly focused on helping workers, impacted by the virus there. Joining the conversation this morning, i got lee carter mattie duplicapler. Money going into pockets of americans Small Businesses asap bring in Edward Lawrence the details from washington especially this move by we got good news from irs, when did that happen. Reporter very good news, in fact Senior Administration officials telling me irs is ahead of schedule, for direct payments to eligible americans we will have monday or tuesday first direct deposits will be made for people eligible for those checks, now, between now and then irs is going to post a link on web site, that is going to be able for you to change your i dont direct deposit information if you changed relationship with bank just want to get direct deposit had paper check on taxes, paper checks go out starting april 20, that is following week, after that those paper checks go out as soon as they get processed, that will take a little bit longer as sent out in waves, now this is Payroll Protection Program widely particular among Small Businesses, also frustration among Small Businesses for big banks folks signed up with big banks taking applications have not processed through any of their loans, Community Banks leading the way huge numbers 400,000 loans, giving Small Businesses more than 100 billion dollars, treasury secretary mnuchin looking out seeing program will run out of money as of 3600 lenders work with it president trying to add 250 billion dollars to 350 billion already in the program. I think we have processed good understanding with democrats hopefully going to either bipartisan we dont have time for partisan games dont want that obstruction we want to do this for Small Businesses and workers. Reporter nancy pelosi in favor of more money for Small Businesses wants to add other things to the program there will be a vote today, Senate Majority leader Mitch Mcconnell saying going to vote just on money for Small Business Program Going to try unanimous consent, going through quickly otherwise work out trying to get that vote don today. Cheryl maybe more money can go to kennedy center, edward . Reporter yeah, [laughter] nancy pelosi wants a food stamp programs extended by 15 , more money for state and local governments, a hundred billion dollars for hospitals other things she wants to pack it with. Cheryl we are going to talk about that right now, lets bring in edward thank you very much wyoming Center Energy Committee Foreign Relations Committee member medical doctor. The vote Mitch Mcconnell is bringing after negotiations with mnuchin, 250 billion that expected to come to the floor today your expectations that it passes what happens when nancy pelosi gets her hands on that legislation then what . You are absolutely right americans want to get back to work and this paycheck Protection Program, is so vital to that it is 350 billion dollars, the demand has been high going to get higher even tomorrow. When this opens to independent contractors to self employed we need more money in that program because you want to keep people tied to their job connected you want Small Businesses to remain viable so we can get america back working quickly once again nancy pelosi is playing politics she is holding up this relief for Small Businesses about identity politics she has quotas in place things she is demanding for this money that is available to all Small Businesses, all independent contractors all self employed, that is why the demand is so great why reiterate is so important for our country, that this get passed today. Cheryl senator you joined 15 other senators yesterday signed a lettering calling for flexibility how state and local governments can use funds included in the relief fund a huge burden right now on major american cities, and governors as well, talk about that decision yesterday in that letter. You are right the burden is on the governors it is on large city mayors also small communities all around the country, and senator murder continuouskey from alaska mayors need relief as well people around the country impacted by coronavirus, so we want to make sure, our First Responders are aided in ways through the state government, way the money was decided to go out is the best way they could do it was through the states. So many will small communities we need to make sure, that the governors have being flexibility to use that money, are because often mayor is First Responder eof the mt paramedics we dont want federal government to say now should not have given month to small communities small communities need it just as much as big cities cheryl. Cheryl we are almost out of time but the concern is, obviously, when you have stimulus, what most people want to see, especially from an investor perspective you want to see a temporary you want iting targeted big word is temporary owe concerned we have house controlled by democrats some programs going out to americans that need it now, would end up being permanent. Well, i want to make sure that doesnt happen, i want to make sure these arent temporary and targeted i think a lot of debate in this president ial election coming up between donald trump and joe biden is going to be along that line, joe biden nominee saying he wants, to go along the lines of Free Health Care for Illegal Immigrants the Green New Deal number of things promoting ending fracking this is going to be i think a big part of the discussion in the election, of 2020. We need to make sure that this money is targeted to the places where it needs it then it goes away we get government back, to the role, but right now an emergency medical emergency, as well as economic emergency we need to get america back to work, sooner rather than later. Cheryl amen senator John Barrasso thank you so much for being with us this morning we appreciate it. Following a lot of top stories this morning, including this news, isis claiming responsibility for rocket attack happened on american troops overnight five rockets were fired at bagram air bases in afghanistan the military largest base in that country no troops were hurt this attack is momming amid stalled peace talks going on between taliban, and afghan officials. Bernie sanders out of race joe biden presumptive 2020 democratic nominee the vermont senator once frontrunner for nomination momentum shifting on super tuesday sanders congratulated biden stopping short of enof doing him sanders is going to collect delegates effort to influence the partys platform. The body of robert f. Kennedy great grandson recovered 8yearold and his mother had gone missing after can 00 accident in Chesapeake Bay last week her body found monday the family thanked searchers for bringing them some closure. Weve got more coming up this morning, folks we are watching another volatile start to your trading we have had a lot of swings just this morning, futures erased gains the market obviously bracing we are bracing here for that initial jobless claims number coming out that is going to be 19 minutes from now that number live for you. Well be right back. Our members understand social distancing. Being prepared and overcoming challenges. Usaa has been standing with them for nearly a hundred years. And well be here to serve you for a hundred more. Cheryl futures pointing to lower open on this thursday, we are waiting on initial jobless claims 15 minutes from now investors going to watch closely comments from Federal Reserve chair jay powell 10 a. M. Eastern time this morning likely will talk about the feds response to the coronavirus pandemic weve got minutes yesterday remember that bring in via phone wells fargo senior global strategy scott. Good morning. Good morning cheryl. Your thoughts on the numbers we are going to get 15 minutes we know going to either rough the question is how rough . On the phone we know they are, the consensus is that about 5 1 2 million or maybe a touch lower there is a wide dispersion around this you can almost throw that out the window we think we are going to see more than consensus is expecting it is going to be terrible no 3459 what it is the market at least in our opinion giving a wide berth to economic numbers it is just too uncertain we know they are going to be bad market is going to start looking forward sooner rather than later. Markets do look forward scott i am glad you said that we know longterm Market Participants if you are a strategist investor you are looking thinking did we see bottom in march a lot of people say we might not, retest lows that we saw march 23, march 4, Morgan Stanley put out a joet chief equity being strategist said yesterday where are you in that thinking nobody has a crystal ball that is what we have to do as Market Participants try to look at strategy from stay looking forward. On the phone we are good resistance 2750 level s p 500 our Investment Strategy committee that has been a huge babe what were looking for us not a retest of the low at least a pretty good retest so we think, the upside is limited here for now, we are looking for i i mean you would be going against all history, if you didnt think that there would be a pretty good pullback after really a 25 bounce up off that march 23 panic low. For us we have been looking at big down days as opportunities, to step into largecap stocks, technology, discretionary Communication Services want our clients taking advantage of this we dont want them chasing the market here because the we think we are going to have opportunities at better levels. Cheryl i want to bring in Mattie Duppler on panel with me jump into this conversation. You dont seem to think a big unemployment number is going to move the market much but at 10 00 a. M. When we hear from fed chairmen what could he say that would potentially have a big Market Impact today do you think. On the phone mattie i any have a chairman wants to do reassure the market sht the fed there is they have more tools there is more ammo that they can use that is what the market wants to hear, i think the chairman knows that is what the market wants to hear, so i think we are just going to hear continued any fedspeak that we hear from now for the next about you know few months anyway, it is all going to be about reassuring the market we are there we are providing liquidity, we are not out of ammunition, and were going to do what we need to do to keep try to keep this ball rolling even though we see recession clearly we are going to have in our opinion sharp but short recession, but they are going to reshowassure us. I only got ten seconds ushaped recovery lshaped recovery vshaped recovery do you have a letter hanging hat on. Still forge bottom yu ushaped recovery. We are seeing a very negative markets, thank you very much again we have about 11 minutes to go mornings with maria right after this claims coming out soon. I am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. 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. Skwipg rent amid can he covid19, hitting pause on paying rent at some u. S. Locations staples stopped paying rent across the country, steve your reaction this could be a dangerous game this companies are playing. , by the way, not just big companies, i have a good friend owns about 500 apartment rents units people are not paying rents appellant because states said you cant be evicted during crisis people see that as invitation not to pay rent ebt why that is a problem, how is this flow through economy she doesnt have rental payments cant pay morning on building cant pay banks ricocheting throughout economy i keep shouting from a mountaintop weve got to get the economy reopened he so people have income pay rent so that you know people own billings pay banks until that happens we continue so a see a big slide in the economy. Mattie that is a question mark not just fore apartment you can invest in apartment reits i think the commercial space prominent after this is all over. Paycheck Protection Program is so important, this is he the additional 150 billion dollars that the senate is trying to pass today, because that actually allows Small Business owners to use those funds to pay rent to make sure they are not going into default on fixed costs they have about, of course, only applies to employers fewer than 500 employees you heard earlier, those are available for self employed person perhaps would offer relief to someone like steves friend but that is so important we need to see loans continuing to out the door Small Businesses can make payments not that cascading effect throughout the economy. Cheryl a weep workers employed keep those people dont have to default on their rent and their homes, this is a trickle down story thank you very much we are coming right back everybody mornings with maria, we are going to have, initial jobless claims moments from now right after a quick commercial break. Stay with us. Cheryl casone for Maria Bartiromo this morning, it is thursday, april 9, top stories 8 30 a. M. On eastern time, we are waiting any moment the breaking news, labor market about amid coronavirus pandemic, initial jobless claims due out about two minutes economists expecting 5. 25 million americans filed for unemployment last week, some estimates weve seen above nine million i have seen two million all going to be on top of the nearly 10 million who filed in that two week span that a number we got last week look at futures right now, we do have, a negative start, as far as going into this number could change though when numbers cross dow down 121, i want to bring in along with our panel the wall street journal Senior Writer Jon Hilsenrath,ity us up what you are expecting, from initial claims this morning. Reporter well, going to be another big number, and when you add it to what is happened in the previous two weeks, we will have more have had more people joining the unemployment role in three weeks than we have in the entire year preceding that, you know it might not be as large as last weeks number of six million, but it is but this is accumulation people on last week the week before that, are still on, so it is clearly a deteriorating job market, and you know, as steven said the economy is in clearly the down phase of a down cycle we are a long way from being out of this. Steve maybe we are prepared for worstcase scenario, we know that the white house knows that these numbers are coming down hence extending Unemployment Benefits by 600 dollars a week to those that file making sure that states are ready to hand out those unemployment checks to people that are going to need it. Reporter yeah, think about this lets say five million the fact dont know two or five million or nine million amazing because, usually we tried to estimate these numbers within 5 or 10,000 we dont know within millions that is how dire this situation is, but lets say 5 million that means in last few weeks we have had 15 million yuks steve stand by weve got number about 6. 606, initial jobless claims coming in 6. 606. Now, this is again, issue million claims everybody million claims coming in this is above estimate remember the range the official estimate 5. 25 this is above expectations maybe not a surprise considering with a we saw last week but, again, i think this is is looking at futures right now matter duppler i want to bring you in because we saw you do futures down more than 100 points now seeing a markets kind of coming back, because i think this is worth noting some estimates have been we are going to get 9 million, 6. 606 million. Initial jobless claims filed for week ending last week. That is right the thing to keep that in mind as well even though millions of people who are out of work, those are real life not just numbers on paper we need to keep those real stories in mind, the other thing to o keep that in mind that is there are really reasons for why these numbers are going up, one is that eligibility has been expanded for Unemployment Insurance so more people are being eligible like gig employees important to folks out of work secondly unemployment offices have been overwhelmed since the first week of the start of the crisis so probably catching up to some effect, on some claims that have been intoend to be made over the last several weeks we knew numbers would be big, of course, the consequence is that unemployment is going to get higher nearterm. More breaking news but 6. 86 million, 6. 87 million last weeks revises they revised last week higher to 6. 867 million, remember last week 6. 6 million slight revision higher for last week some were expecting Edward Lawrence youve got news on the fed, go. Cheryl this is earth shattering from Federal Reserve injecting 2. 3 trillion dollars now into the economy through stimulus basically backing loans, to help americans businesses and state local governments a number Different Things backing up the Payroll Protection Program banks will be able to lend more money related to that Federal Reserve also krith for small mid sized businesses they will apply up to 600 billion dollars in loans, through a main Street Lending program, from banks, clearing those off the Bank Balance Sheets, allowing the banks then to lend out more money, now that is backed up by 75 billion dollars, from the Treasurer Department under cares act the fed expanding size of the primary and secondary Corporate Credit facilities, as well as term assetbacked securities Loan Facility programs that will provide support 850 billion dollars, in loans, backed by 85billiondollar credit through the Treasurer Department cares act finally a state and local most Municipal Bond facility, municipal lending liquidity facility, that is 500 billion dollars, that state and local governments can tap into get loans to handle their credit worthiness also cash problems they may have because of coronavirus, this is backed up by 35 Million Dollars from treasured department under cares act may remove need for congress to pass maybe 150 billion dollars in a loan package, for state and federal government, state and local governments, the Federal Reserve stepping in with some very big numbers here again, 500 billion dollars, for state and local governments, 600 billion dollars, to remove some loans off Bank Balance Sheets so they could lend out more money, and backup to help the Payroll Protection Program demand has been very, very solid back to you. Cheryl reporting constantly on that i want to bring in Jon Hilsenrath, looking further into initial claims number jon i want your reaction on fed that breaking news but first, just to be clearish in claims actually fell weektoweek because we got that revision from last week that 6 that he revision upwards 6. 86 million for last week this week 6. 6 million we actually saw a fall in initial claims i dont know if that means anything, maybe it does at the same time but of you got. 3 interest 2. 3 trilliondollar blockbuster news at the same time out of fed your reaction. Lets talk about jobs and then fed, on jobs front i think there is a couple of things going on here, first of all, as earlier guest said one of the things that is happening is that a lot of states are catching up with the immense backlogs they had building up since midmarch seeing that in continuing extremely high numbers on initial claims also the case that congress is expand its eligibility so you know that safety net is widening. I think, one of the things that i worry about there are two things i worry about on jobs front, first of all, that you know after this initial wave of layoffs that we had from hotels restaurants, airlines that we are getting a second wave, hitting people in other industries, that Companies Profits start to get hit one thing. The other thing is, that on the jobs front, you know a lot of companies that started announcing layoffs in march, described them as have temporary layoffs. Now i really hope these temporary layoffs dont become permanent layoffs two things we have to along out for, on the fed remarkable what the fed is doing, i think you know we should be mindful that the fed was so aggressive in the 2007, 2008 financial crisis what their doing right now is orders of magnitudes more aggressive than what they did in 07, 08 financial crisis taking on a lot of risk they did not want to take on before state and local government bonds risks more corporate and Small Businessings risks, they have got the treasury as backstop but that is that is a tangled mess they are getting into. I was talking to my colleague nick tim ross covering fed 24 by the end of the year the feds Balance Sheet could be around 10 trillion dollars. You know, it got over four trillion in the last financial crisis so we are talking about twice where it was before. At the fed all hands on deck right now. Cheryl certainly is, and that is a very really that is a very good point, i also want to say here, weekly claims, that this is a new record. I guess we are going to blow through records until this is over 6. 61 Million People filing for claims is a new record, and just estimates jon go ahead. One other thing i want to say about fed, there is going to be an argument now about all this money that the fed is pumping into the Financial System, is it go will to cause hyperinflation i think there is going feedback worries about that, at the fed Economics Community i think there is a belief that this shock so is devastating, that it put downward pressure on Consumer Prices not upward pressure something we have to watch there is going to be concerns about it, it is not what fed is worried about right now, what they are worried about right now is keeping the Financial System stable so it can provide its support system for the broader economy. Cheryl i am glad you made that point i want to bring in mattie dubler as well, speaking of stability markets have been watching are we stablization of coronavirus i have been watching futures is as jon has gone been speaking a lot of backandforth normally in a regular day and age this over time amount of stimulus from fed 2. Trillion dollars would be a market bonanza, we are saying cant make up our mind let me bring in mattie quick, to comment. For sure, inflation thing i think a very important point, remember prior to the coronavirus, the question for the fed why we werent see inflation i think also very important to kooem we are talking about what is happening in energy as well, right the president is going to imports on Energy Increase the cost of oil, that could have that probably higher Inflationary Pressure than infusion from fed because the demand shock is so o severe right now, those sorts of, going to have normal effect we would think in markets and on inflation side. Cheryl s steve come into this discussion reaction to all this. Okay a couple things this is not the xa demand shock it is supply shock this is fundamental problem with American Economy it is not there is no amount of more than that fed can print, there is no amount of trillion dollar aid packages congress can pass, that is going to mitigate the negative effects that people arent working this bids are not producing i get very concerned i am not disagreeing with anything jon says i think the fed is doing for the most part the right thing here we are kidding ourselves if we think somehow they can rescue an economy when half the economy is basically laid idle right now, again why we got to get economy up and running. Another point. Can i. Cheryl back to you in a second, are let steve finish. Okay. We made a big big i am not a fan of this ppp program, there are a lot of mistakes that we made that are going to cost the economy dealer. A lot of them i wrote column on this paying one hundred percent Unemployment Benefits that is usually that is not what you get. So basically, workers getting same amount for not working than they would get for working, as you know you guys have reported on this fox business some workers get more money for not working. There are jobs in the economy, for example, in construction industry, i have a friend went to runs a Construction Company has 100 workers said day after they passed that bill giving one hundred percent Employment Benefits guess what 50 people walked off the job are. Cheryl i know. To fix that Jon Hilsenrath come back in. One thing, i think you know when you look at the markets from what i see, you know, they look like going to be up again today the markets are looking at two institutions right now, one is the fed, what it is doing, the other is the John Hopkins University web site posting every day the accumulation of new viruses, deaths why this is important how it ties into what steve is saying economy fortunes are tied together with health outlook, everyone i talked to says the economy cant get up and going again, until individuals and Companies Feel that it is safe to get back to work. Whether the states close down bits businesses nor not the people are not going bark to work easternmost going to stores until they feel Health Environment is safe the Health Response is so important to market and economy two tied together not distinct from each other. Cheryl a i never thought would i be looking at jon hopkins as much as do i i want to bring in lee carter the economy is based on how people feel safe getting on a plane going to a ballfield we cant answer that, yet, lee, but i know that you are polling and you are looking at how the average american is feeling, what can you add to this . What i am really this is the number one i am focused on what is going to change about people in long run the comfort in going out, and doing the things they always do is not going to come back just because the crisis is behind us, apex behind us health care, about rebuilding trust, messaging communication, getting people comfortable doing things they always did, i am really focused on how are people going to be changing their opinion the roll of government after this something going to really, really shift. Cheryl are i agree with you, i think that is again, the other piece of the unknown again weve got 22 trilliondollar economy, and 70 of that is Consumer Spending guys, these are questions we cant answer yet, markets are reacting again initial jobless claims coming up new record 6. 61 million americans filed for Unemployment Benefits last week a new record has been set. Markets reacting thanks to all of you especially Jon Hilsenrath thank you very much for all expert 37b as we cover breaking news on fox business a lot more coming up a quick commercial break then going to speak to notre dame pet father john jenkins, americans are finding new ways to celebral ho week easter is coming up. Well be right back. 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. 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. Cheryl it is important week for people of all faiths passover beginning easter days away familied forced to celebrate differently, moving online the president of notre dame father john jenkins good morning. Great to be with you cheryl thanks for having me on. Obviously, a very difficult time historic time for our nation how can we unite together faith hope us get through certainly a very different celebration this weekend . It is the strangest easter i have ever experienced and i am 66 years old. A different time. Will the but what i would say it is true of both passover celebration and easter celebration is that passover celebrates a time after the bondage in egypt difficult time easter celebrates after death of jesus did i time of joy both events coming through hard period trying period difficult period. In some ways there is no more appropriately time to celebrate these feast days we come together to overcome in virus all consequences. What advice can you give to all of us so many of us are notgoing to be with our families, for passover for easter i mean that is tough on a lot of people they want to be together the time we get facetoface we hug each other, we cant do that. How do we celebrate online still kind of get the same warmth, joy out of the holiday . It is tough, and i think i think there will be a sense of absence a sense of loss but, at the same time, there is the possibility of allowing in your life a bit of reflection a bit of prayer we live fast paced lives think about people you love why you love them maybe write a letter find times to connect even when not together physically there is opportunity these feast days can be time to recognize that deepen relationships. Do you think our faith is going to be stronger after this is all over . It can be, i think you know these periods challenges bring up can bring out worst and best us in, isolation, selfishness can bring out a courage we see heroism of medical personnel caring for sick of public figures trying to lead us through this. It can be a great time, but it is it is a decision point, an opportunity and we have to take advantage of it we cant allow ourselves to succumb to selfishness to isolation we have to find ways to move beyond that overcome it that is what easter is about passover is about i think. Father jenkins i wish you a wonderful Easter Holiday i hope sunday is a good day for you, and everyone that you celebrate with thank you so much, sir. Thank you very much, thanks for talking. Cheryl weve got a lot more coming up we are going to take you next to chicago ohare international, the coronavirus pandemic has kept flights ground worldwide we are going to look at that aifrpt plus stay tuned for fox virtual town hall 2 pm eastern, your questions answered. music over the world where are they . Jeff flock live from chicago good morning, everyone. Almost running out of places to put them ohare in chicago, beyond the barbed wire fence you see here a dozen united 777s parked here at ohare, worldwide as you point out more than 10,000 planes now essential not flying at all mothb alled, 40 aircraft fleet kept in different 34r5is strategy to try to keep at hub airports to kick back into service when they need to other airlines though are putting them in warmer clielts american and delta putting them out in places like with oklahoma, california, arizona desert where they think they will weather this downtime better some airlines believe they may be not ever put some planes back into service some old ones they were going to eventually retire, maybe retired them now they may be done cheryl middle of a boeing 737 max crisis, all of this tough on airlines and people that work at airlines, jeff flock thank you very much for that live report. We are going to take a quick break. Mornings with maria will be right back after this. 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Love how you put lipstick on this pig by talking about the slight decline in Unemployment Benefits. Thats great. Optimism there. Look, started this conversation almost three hours ago where i said what the Financial Markets are following closer than anything else, and this was said about ten minutes ago, its following the Johns Hopkins numbers on the coronavirus. When things look like they are Getting Better, as they do now, the market rises. So thats a hopeful sign. If we plot the course we will get a good market. Cheryl ten seconds, go. The Johns Hopkins data is Getting Better because everyone is doing their part staying home. Keep up the good work. Cheryl i love that. Leigh carter . I think everyone will get comfortable again. 75 of people are scared to go out of their houses. Its not going to get better until people feel safe again. Cheryl thank you for the three hours you spent with me. Varney company and Ashley Webster is now. Ashley good morning, cheryl. Thank you very much. Good morning, everybody. Okay. Well, 6. 6 million americans filing for Unemployment Insurance, for the first time just in the last week. Add it all up, over the last three weeks, that number is more than 16 million. 16. 7 million, to be exact. These numbers, of course, will fuel the political and economic debates over when and how to reopen the country. Still, President Trump says we are ahead of schedule on that. Ll