Transcripts For FBC Mornings With Maria Bartiromo 20240713

President trump donald trump saying america is winning the war against the virus. Dr. Anthony fauci says at least part of the economy could reopen next month. Over at the capital additional funding for Small Businesses, Congressional Republicans to add 251 billion, democrats looking for more money and a much broader use of the funds. Meantime futures are pointing to a lower open to kick off this week. You have almost 300point loss on the dow futures after u. S. Markets in a short week last week rallied big time. The dow, nasdaq and s p all up more than 10 . S p having the best week since the mid70s. 1974. Deadly storms slamming parts of the United States over easter weekend. The southeast still being battered by horrible weather. We will have a live update. Mornings with maria is live now. Dagen and good morning, maria. Maria good morning, everyone. Dagen, thank you. We want to check Global Markets. This is a big week. Hope everybody had a great easter. Lets check Global Markets right now. Futures indicating a decline but treasury yields are up. The yield on the 10year up. 5 basis points at level of. 573 . Lets take a look at red across the board. Hong kong hang seng was closed for holiday. European markets remaining close today for Easter Monday holiday but korea down almost 2 and nikkei in japan down 2 and a thinker percent, shanghai composite down. Right now deadly round of more than 30 tornadoes ripping across several Southern States, more than half a Million People do not have power this morning, alabama, louisiana, mississippi, all declaring states of emergency today. The storms killing at least 8 people including mississippi deputy and his wife. In alabama a woman rescued after getting trapped in a car. Georgia getting hit with dangerous track moving north. Severe storms and wind expect today move across the northeast for you. We will follow it for you. Fda says coronavirus is reaching its peak. Over the weekend, the president approved the disaster declaration for wyoming meanwhile. This means all 50 states and territories have now received a federal disaster declaration. More than 22,000 people have died from the coronavirus in the United States surpassing 19,000 people in italy. Theres hope, however, as new york sees a slight flattening of cases of the virus. Some more good news, Prime Minister Boris Johnson out of the hospital this morning after receiving treat ment including 3 days in icu. The Prime Ministers thanked the doctors for saving his life. I have seen the personal courage not just to have doctors, the nurses but of everyone. Thanks to that courage that devotions, that duty and that love that our nhs is unbeatable. Maria it is not yet clear when johnson will actually return to work. More on that coming up. The ceo of smith field foods warning of possible pork shortage after closing major u. S. Plant following outbreak of coronavirus. The sioux falls, south dakota plant closed. Wallet disney world will furlough 43,000 employees, the latest wave of lay offs, workers will keep their Health Insurance for the length of the furlough or up to a year says disney. Right now 200 workers are still on the job performing essential duties during the closure. Disney shares this morning down 1. 47 in premarket. 103 and change. Andrea bocelli giving Easter Sunday performance. Watch this. Amazing grace, how sweet the sound. Maria the opera singer performing Amazing Grace and ave maria, boceli performed for group for home event. Take a look at markets this morning. We are expecting lower opening for the broader averages, stocks are down ahead of the open. Futures indicating decline at the start of trading with Dow Jones Industrial down better 30 points. S p down 36 and nasdaq down 89 this as oil prices are really flat, but we did see a pretty good move over the weekend on the big news of the weekend, opec and the worlds Major Oil Producers reaching Historic Deal on a massive Production Cut as you see oil up 24 cents a barrel. The president tweeted about it yesterday saying this, the big oil deal with opec, plus is done, this would save hundreds of thousands of emergency jobs. I want like to thank and congratulate putin of russia and king solomon from saudi arabia. Joining phil flynn and joining the conversation Dagen Mcdowell, pollster and president of maslansky partners lee carter and pwc partner Mitch Roschelle. Thanks to all. Great to see everybody this morning. Phil, lets talk about the oil deal, the president said it was going to be between 10 and 15 . It looks like what we are seeing now is a little lower than expectations, how does this play out phil, and why dont we see a bigger move in the price of oil . Phil yeah, i think theres little bit of disappointment and this deal is better than no deal at all. At least giving some of the Oil Producers some hope that theres some price stability in the future and one of the big things when you look at a deal like this, we have a tendency to look at the first couple of months contract like the june contract. If you look out a few months, the reaction to the deal is a lot better, shows that prices will come back but thats assuming the demand will come become and thats the big question for this oil market going forward. Maria yeah, i mean, at this point what would a 10 cut do . Its taking how much oil off the market in an environment where you dont have any demand because of the coronavirus shutdown, right . Phil right, by taking oil off the market it can expand where oil storage will get filled up. Right now at the pace where Oil Producers are producing, we will run out of places where to put the oil. Storage can be out by next month. By producers cutting back production a little bit, that should extend that time period. Give the Global Economy a chance to come back and start burning barrels of oil so its really a situation thats going to buy producers time and give us a little flexibility and hopefully some stability in prices so producers dont go bankrupt overnight. Maria dagen. Dagen phil, the president is getting a great deal of praise from people in the Energy Industry even the regulatory body and Texas Railroad Commission Just to name one because part of the deal was getting mexico to the table although mexico only agreed to cut 100,000barrels of production a day which was 250,000barrels less than saudi arabia had wanted but the u. S. Got mexico on board with this deal because we agreed to we pledged to compensate for the mexican amount with 300barrels of our own reductions. Its not clear that its in addition to u. S. Cuts or how the u. S. Cuts would be implemented, again, this is dealmaking and making sure that we were still involved in conversations with russia and saudi arabia for weeks. Phil absolutely. This deal would have never happened if it werent for President Trump. You know, there was no way to bring saudi arabia and russia back together. They were about as angry to each other as they possibly could be and really is against President Trumps nature. He hates opec. He hates collusion when it comes to the price of oil. You know, but once youve gone down the collusion path and youve had an opec basically flooding the market with oil, product dumping trying to put people out of business, it does change the game a little bit, so i think President Trump did a great thing for the u. S. Energy industry and gives our guys a chance to survive with without a deal the bankruptcies for the u. S. Oil industries could have been through the roof. Maria phil, thanks so much. We appreciate it. Have a great day, phil, on the price of oil there and this deal, the big stories of the morning, certainly. Well, weve got Severe Weather still slamming parts of the United States this morning after brutal easter weekend meanwhile, we are expecting a serious day of winds. Janice dean joining us now with more on what we can expect . Janice bad news to deliver across portions of the south where we had reports of over 50 tornadoes and catastrophic damage for parts of texas, louisiana, mississippi, alabama. You can see the cold front sweeping through. We actually had a snowstorm over parts of the Northern Plains and the midwest but the damage and the potential for damaging winds as well as hail and tornadoes exist for the next couple of hours over parts of georgia, florida into the carolinas, up towards virginia. Tornado watches in effect until at least 11 00 a. M. Local time and we have tornadowarned storm north of augusta, georgia, west of charleston, up to North Carolina area as well, raleigh, in towards richmond, virginia, these are all tornadoes on the ground being reported or Doppler Radar indicated. We have several hours to go and moving up towards mid atlantic and northeast later today, wind gust in excess of 70 miles per hour, maria, in coastal areas and that will cause structural damage and potential for Power Outages, people need to be on alert. Back to you. Maria janice, thank you, waiting for it all janice dean joining us there. We are just Getting Started this morning. Busy day and this is kickoff to Earnings Period. Big earnings coming off at the end of the week. Coming up the collapse of china author gordon chang is here on chinese experts. Wait till you hear. Snl first ever at home episode and georgia congressman doug collins is here uncovering peoples paychecks and the cyber guy circumstance knutsson. And then Waste Management ceo james fish, jr. , will be here to talk about business and the recent garbage pile thanks to coronavirus and the north america ceo of anheuserbusch michael is here. Dont miss a moment of it. We will be right back. Stay with us. Every Financial Plan needs a cfp® professional confident Financial Plans, calming Financial Plans, complete Financial Plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Maria welcome back alarming and new information out of china, breaking news as well. Sources tell me that the Chinese Government has imposed new rules and regulations on the manufacturing and production of all materials used to make personal protective equipment. These regulations sparking mass delays in exporting the critical equipment to the u. S. And the rest of the world making it even harder for other countries to receive them. I have a letter right here from one representative of companies in china telling us about the knew rules. They sent this to a Government Official. Joining me right now the author of collapse of china, gordon chang, great to have you on the program. Thanks very much for weighing in on this. We know that the chinese downplayed the coronavirus, the communist party downplayed the coronavirus. While they were downplaying it they were cornering the market. They already produce half of all of the capacity in the world of masks and yet on january 25th i have evidence here that they bought 2 billion additional masks and now ive got this letter which was sent to Government Official which says the country has not come up now come up with knew rules and regulations that you have to get approval to export anything. Any manufacturer must get local and National Approvals which circumvent fda oversight in order to produce and ship goods. This means more delays of this protective equipment. Gordon, what is going on . Beijing is using approval powers which is april 1st regulations. They are ausing using approval powers away from the United States and to others that china considers to be friendly. You have individual companies basically saying they wont sell to the United States. Beijing has constant antiamerican propaganda which is in the best of times exist and so this is having consequences and its certainly hurting sales to the United States of this equipment. Maria now you are seeing limits of exports in other countries as well. I guess during a pandemic globalization has its limitations where youre seeing countries hoard everything but if you have accounts and then the Chinese Communist party is telling the companies turn the ships around, we need all of that stuff, we dont want to export this. How are American Companies ever going to trust Chinese Companies again or the Chinese Communist government more importantly . Do you think this creates a fundamental change in the supply chain and on the trust that International Companies perhaps might have had in the Chinese Communist party before this . Well, certainly, because beijing has shown itself to be unreliable member of Global Supply chains and unreliable because of these political decisions that are being made, you know, in connection with personal protective equipment, there have been horrific stories from china recently. Price gouging, they have been selling masks at 4 to 5 a piece even though they only cost 35 cents to make and we are seeing defective equipment being sold to the United States. China refusing to refund and also Chinese Companies have been deceptive. They have applied for fda approval but when they apply for fda approval they say theyve actually received it so u. S. Companies are very much at a loss when they are dealing with china but in addition to all of that, we have these political decisions in beijing which are making it very difficult to rely on chinese suppliers. Maria thats right, the political decisions in beijing are including new rules and regulations whereas you have to follow what the communist party says in terms of all of this equipment. Remember, gordon, during the whole fight during intellectual where President Trump educated the world and they came out with new set of rules. Remember last year, to stop stealing intellectual property and there are patents in place and you just dont steal it and they come out with new rules for Telecom Companies that you have to use Chinese Telecom and if youre operating in china you to show all of your technology, again, the forced transfer of technology, so they basically, you know, removeed any way that people could say youre stealing intellectual property and accountability for it . Yeah, this is the core of the problem with u. S. Trade right now. They deny that they are in place but they are being enforced, maria, when we talk about theft of ip, 125 to 600 billion a years inip due to outright theft as well as forced taking. Maria i know. Its tens of billions of dollars for American Companies for sure. It has been for decades. To learn more, visit paycom. Com beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Maria welcome back, we are back with panel reaction on breaking news. China is seizing and slowing down the production of materials need today combat the covid19 pandemic making even more money there, but importantly holding back important exports to the United States. Dagen mcdowell your response here and ive got this letter from a major representative of companies within china sending this letter to the to the government here to basically alert them to this problem that there are new rules and regulations on the ground which will further delay the export of things like masks and protective gear, dagen. Dagen china lies about it repeatedly and hoarding medical supplies to make sure whats the end goal, certainly to come out of this quicker than the rest of the world and gain more power and dominance, but we are sitting back as you have been literally for a couple of years, maria, and asking how did the United States allow for outsourcing of so much manufacturing particularly lifesaving Critical Health and medical supplies, there are companies who are trying to get tariff relief, u. S. Tariffs from disinfectant, fibers that go into sanitary wipes. General motors need tariff relief because it gets compressor silenceer in parts that are used to make ventilators. We are at chinas mercy when we wake up, maybe this is the call. Maria sources telling me within congress theres a movement to get a movement of supply chains to america in a phase 4 stimulus package, okay, so we are here waiting on another relief package, we just talked so much about the 2. 2 trillion relief package last week. The fourth one is being cooked up right now and theres a Movement Among some republicans that they want some sense of assurance in that fourth package that the supply chains will be here and things like the active ingredients in our prescription drugs will be made here. We cannot leave this up to a foreign power. Now we have learned this and unfortunately it was an expensive lesson to learn during pandemic, mitch. Mitch its not surprising we were reeling from the trade war and Many Companies were figuring out how to resource supply chain and this is shining a bright light on it. I think those types of businesses have spoken to members of congress and said we need to do something about it and we need to do something about it quickly. Maria yeah, i will tell you, lee, theres no wiggle room because people dont want it to be all about the money. Is it just about the money that we have cheap labor in china and thats why we have all of the production of so many important goods there outside of our borders . All about the money . Lee i think thats certainly the perception and i think one of the things that the president ran on in 2015 and 2016 getting tough on china. He said we should be tougher on them and shouldnt be happening. We saw trends moving away from companies manufacturing in china. I think this is going to be the end of the made in china legacy that weve had for so long and i do agree with mitch that we are going to be looking at Different Things on shore, are we making medical supplies here in the United States and thats an important thing that we will hear from the candidates on what are their plans to bringing manufacturing back here. How are we going get that back on shore and some people saying going to mexico instead of china, is that the right thing or do we need to have it here especially with the economy such as this and people concerned about jobs now. Dagen i want to add really quickly, the state department shipped nearly 18 tons of donated protection equipment, ppe, to china in early february. I think the American People need answers as to why that happened too. Maria all right. We will thats an interesting point. We will have to investigate that one for sure. We will take a break. We have a market that is under selling pressure this morning, this monday morning, kick off to earnings later on in the week. Futures declining at the open after long Holiday Weekend and historic opec deal on oil. Oil prices are up but the dow industrials are down 311, back in a moment. Some work cant stop. Because our communities need you. Which is why were working to keep you working. And ready to dig in. To help you keep your properties and towns maintained. Your farm running. And construction moving. Your work is essential. Kubotas 1,100 dealers are behind you. Together we will get through this. Call or email your kubota dealer about 0 financing. No payments for 90 days offer expires 5 31. Together we do more. 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. Sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. Maria welcome back, good monday morning, thank you so much for joining us, im maria bartiromo, happy Easter Monday. It is monday april 13th, your top stories right now 6 33 a. M. On the east coast. Marks are d markets are lowers this morning. As you can see dow industrials down 300 points. S p down 33 and nasdaq lower by 84. Historic oil deal to report, the United States stepping in to broker deal including saudi arabia and russia agreeing to record cut in production of nearly 10 millionbarrels a day. Thats about a tenth of the worlds supply. The deal failing to excite investors. Crude oil at 22. 83 a barrel. Some disappointment here. They wanted it to be a larger cut. European markets are pretty much on holiday today but overnight in asia red across the board as you can see nikkei average in japan 2 and a half percent and hong kong, hang seng closed for holiday and as i mentioned european markets remain close for Easter Holiday this morning. Yield on treasury a bit higher this morning, take a look at the 10year right now. 10year treasury up. Major u. S. Airlines reportedly raising questions about terms of the coronavirus aid package. Cheryl casone with the details there. Cheryl, that does include equity stakes in the number of airlines. Cheryl are airlines going to be happy about that, maybe not, maria. Good morning. The wall street journal is reporting that the major u. S. Airlines dont like some of the Strings Attached to the money. Officials believe 25 billion would be outright grants but the Treasury Department expects 30 of that money to be repaid and to your point, maria, discussions about equity stakes in the Airline Industries as well. Well, movie theaters are closed amid the pandemic but that didnt stop the release of one new movie. Universal pictures to become major film to premier at home. Movie stuck to april 10th date and was available for rental on several ondemand services. This was a hit for parents. Many showed pictures of makeshift at home theaters that they actually created for their kids and finally theres this, the 2020 nfl draft going to be one for the history books this year due to coronavirus pandemic and social distancing. This one is done from commissioner Roger Goodells basement. Goodell will announcing 32 picks in home. Virtual draft, one thing we wont see is the commissioner, it was supposed to be in las vegas but obviously thats impossible. This would be different, back to you. Maria people are adapting all over the place to the pandemic, cheryl. Thank you. We will wait for that. The state of the paycheck Protection Program, that, of course, the relief package, Small Business administration will be dolling out 350 billion to help them pay for payroll and other costs for the next two months. Next businesses are having trouble getting the fund and many banks have run into issues. Joining us two Community Bankers independent Community Bankers of america chairman and ceo of grand Rapids State Bank and Minnesota State banks noah wilcox along with Community Spirit Bank Contract and ceo brad bolton, great to see you this morning. Thank you so much for being here. Good morning, maria, thank you for having us. Maria kick us off, brad, how is it going, do you see that small demand is there and in terms of the the actual rules on allocating the capital that youre getting, do you understand what what the limitations are and where you can allocate money . Yes, maam. The demand is certainly there. Our phones have been ringing up the hook, emails, customers calling for payroll Protection Program. It is certainly something that Community Banks like noah and myself and other Community Banks across the country have stepped up to the challenge to help these Small Business customers so although it was somewhat difficult to obtain access to the system, Community Banks continue to work through applications as we got them and begin getting ready to help get this money out to the customers that need it the most, so, you know, Community Banks have stepped up and worked hard for their customers and continued to do so on a daily basis, working around the clock to get the customers the loans that they need. Maria noah, is this going to be a enough because i heard from several Small Businesses last week and they were saying, look, the timeline has to change particularly if youre a restaurant because youre getting an 8week period to give the money that youre getting right out the door to go to employees but you dont have any demand, you dont have any money coming in. We are in a shut down, lockdown, so the clock is ticking immediately and as soon as you get the money hopefully youll get the customers during 8week period but thats not going save most of the businesses. They will give money to employees and will not have any revenue coming in. We are in a shutdown and may very well still have to go bankrupt at the end of this. I think really two things, maria, the timing, tenday funding window as well as how much money is available for the program. Theres extensive demand as brad mentioned but when the clock start ticking is an important thing and we are starting to hear from customers. The 8week window to start today and maria thats exactly right. Yeah. Have you written any checks yet . I know the demand is there . Have you actually sent out any money to Small Business . Yes, we have, we have been closing loans since last week at both banks and putting money on the streets and Community Banks across the country. They are coming on line one by one and while one Community Bank not having access to the system is too many, every day we are putting more on the system and more dollars are hitting the street and nobody better poised in the Community Banks in our country to put the dollars to work. Maria yeah, brad, some major banks are turning people away. Major lenders including Jpmorgan Chase are giving priorities to existing customers leaving some Small Businesses searching for sba funds elsewhere. In one of your banks in, minnesota, noah, 40 are noncustomers rather . Thats right, maria. 40 of our Payroll Production Program loans have been made to i will call them new customers but the overwhelming majority of those coming from largest banks in the country that have been turned away. Maria something Lindsey Graham has brought up a number of times and that is in certain states given the 600 flat number that the federal government is giving out, in some states its going to mean they are making more money to stay home than they are actually making on the job. What is this going to do for productivity in the long term. I think that has been a concern for Small Business owners but their priority is putting their people back to work because we have to think in terms of the shortterm but the longterm and we are blessed here locally with Community Banks here locally. Ive been promote to go bank locally to use Community Banks and i actually had had a customer although they got access and relationship with one of the top 5 lenders, they couldnt get an answer and so they reached out to us last week and we were able to push their loan through. We got their application on wednesday morning and approved wednesday afternoon and closing next week. The owner of that business reached out to me as i texted her and told her that we had her approved and said i cant believe this is how Small Business really can react with a small bank. I doubt i could text the president of a, quote, unnamed bank. So thats what Community Banks do. Maria thats fantastic news actually. I would love to hear that. Do we need a fourth stimulus package, a fourth relief package here . You know, i dont know about the package itself, maria, what i will say that i think its important that any Small Business that needs the funding of this program that qualifies should get it, so if there are additional funds that are necessary, they should be provided. Maria all right, we will leave it there. Noah wilcox. Thank you, brad, final word. Maria, i want to say that Small Business owners are struggling to get those answers they need go to icba. Org, find a Community Bank that will take care of you and love as much as noah and i do our customers. [laughter] maria i love that. Thank you, gentlemen, great to see you and we will be right back. Maria welcome back, more now on the Coronavirus Crisis. The United States now leading the world in the number of reported coronavirus cases and deaths, over half a million americans have contracted covid19 and over 22,000 people in america have died. This coming as california is rolling out coronavirus Antibody Testing which could help largescale testing efforts which could lead to reopening of the u. S. Economy. Joining us to talk about that Infectious Disease expert at john hopkins dr. Amesh adalia. We need to who has had it and who is immune to it and who has maybe has been tested, tell us how you think that is going to go in terms of how smooth it will be, knowing, getting the data so that we can in fact, go back to work . Its going to probably be scattered across the country and i think if you look back at this pandemic, diagnostic has been the biggest struggle that weve had basically since it appeared in the United States. I do know that theres definitely a lot of efforts to get diagnostic testing scaled, all forms of it, being able to test people rapidly and test people for prior exposures but theres going to be need to be some work needed to be done so that we have situation awareness so that we can open parts of the country safely and not overwhelm Hospital Capacity and im worried that thats going to be better in some places and not so god in other places but we do need it to be uniformed in order to get the country back to work. Maria yeah, one thing that ive been talking about recently was this thing called immunity passport where you have it on your phone, look, im tested, ive had it, im immune, its a Digital Program where its easier and gets through through whether or not youre immune at this point at this point. 68 of the conditions improve and half of patients on ventilators were able to get off of machines. Dr. Adalja are you optimistic of this drug, remdesivir . I am optimistic about remdesivir. We want to make sure that it works against the placebo and hopefully we can get more data so we can start using on sicker patients. Dagen doctor, its Dagen Mcdowell, one of the things doctors are focused on, the ones i was communicating over the weekend is the available drugs to treat what is basically an immune system gone haywire, stops the lungs delivering oxygen to the rest of the body. There are already existing treatments out there that have been used to treat the in cancer patients. People see this as something critical to treating patients. What do you say about it . There are protocols. Its not even everybody that gets to the icu that meets that criteria. Theres a role for using it. So this is something that people are looking at as a promising way to treat the sickest of the sick and i do hope that it is successful and some of my colleagues have given it to patients. Maria and we will keep talking about in terms of the mix of hydroxychloroquine and the zpack as well, real quick on that, do you have confidence in that . Where do you stand on hydroxychloroquine . I think theres still a lot of questions of how effective it is. Ive given it a couple of times to patients of mine according to protocol at our hospital but like many people im unclear whether it worked or it didnt and i do think we need to answer questions. It does have in vitro activity but really the only way to answer the questions is trial. Hospitals are giving it to patients that meet criteria for it. Maria thank you, dr. Amesh adalja. Thanks for being with us. We will be right back. Awesome internet. 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 ] ever since being diagnosed i have been more like americas dad than ever before, since no one wants to be around me very long and i make people uncomfortable. Maria saturday night live kicking off with tom hanks this weekend hosting from his kitchen. The snl cast attempt to go recreate the feel of a normal episode performing sketches from their homes amid coronavirus. [laughter] maria lets talk to the panel about this. Look, i waited up to watch it. I felt bad. I mean, it was looking at everybody from their homes, it took away the comedy for me, lee, what are your thoughts . Lee i love that everyone is trying to find new ways to entertain us. Maria me too. Lee but at the same time it just wasnt as funny as i wanted it to be. It wasnt it wasnt what i was hoping it was going to be but i love people are innovating trying to be creative, get us out of our heads as we all are sitting here so worried about so many Different Things right now, so kudos for them for trying but hope they keep innovating. Maria yeah, you know what, look at the spirit of the American People, how the american have just risen up in the face of this, whether its snl performing at home or all of us doing our jobs from home and getting through it, getting on those guidelines, following the guidelines. I am impressed with this country and its people having to deal with the crisis that we are all faced with. Dagen i love michael che had a cookie monster behind him. It was one of my favorite things. I have to say we need to do a better job following the guidelines because people were out in force, looked like a Music Festival and i just encourage maria wow. Dagen if somebody could talk to anybody working in the hospital, say in the bronx and would know what they see from coronavirus patients drowning in their own fluid and saying help me, help me and they wouldnt stay at home and they wouldnt be out sunning themselves and having a picnic. Maria we have congressman doug collins on the other side of the break, stay with us, getting money to peoplee who need it no, congressman doug collins. 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. 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 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 transaction all without leaving the comfort and safety of 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. Maria welcome back, good monday morning, thanks so much for joining us. Im maria bartiromo, it is monday april 13th, your top stories, 7 00 a. M. On the east coast on the button. Historical deal has been reached. The United States has stepped in to broker a deal resulting in 23 countries including saudi arabia and russia agreeing to cut production, record cut of nearly 10 millionbarrels a day, about a tenth of the worlds oil supply. Prices of oil this morning fractionally higher up 1 and a half percent. Theres speculation the cut could go more than 10 . We are watching this. The u. S. Leads the world in coronavirus deaths and confirmed cases but there are still signs the curve is leveling out and, of course, we do not know the accuracy of chinas numbers. President trump saying america is winning the war against the virus. Meanwhile dr. Anthony fauci says at least part of the u. S. Economy could reopen next month. Checks are now getting deposited into americans accounts but over at the capital battle for additional funding raises this morning. Democrats looking for more money and a much broader use of that money. Meanwhile sources are telling me that the Chinese Government is instituting new rules interfering in production and muchneeded export of personal protective equipment to the United States. The Chinese Communist party has instituted new regulations putting a delay on any exports of this personal protective gear export out to the world. Markets this morning are lower, futures indicating decline. We will get jp morgan earnings during the week. S p futures lower by 27 and nasdaq lower by 75 this after the u. S. Markets rallied last week, the dow, nasdaq and s p 500 all up better than 10 . It was one of the best weeks since 1974 for the s p 500. S p had the best week since 74 last week with gain of 12 on the session, the entire week rather. Deadly storms slamming parts of the United States easter weekend. The southeast still being battered this morning by weather. We will have a live update on what to expect. Mornings with maria is live right now. Maria and Global Markets are lower this morning. In asia overnight red across the board as you can see. Worst performer was japan. Down two and a third percent, hong kong was closed for a holiday and european markets are also closed this morning for Easter Monday. The Easter Holiday continues and as you can see the asian markets were largely lower. Yields are fractionally low, it is sitting at. 723 , thats down. 6 basis points this morning on treasury yields. Had been up but reversed course. Joining the Dagen Mcdowell, lee carter and Mitch Roschelle are here. Great to see everybody this morning. Dagen great to see you, maria. Mitch morning. Maria top stories we are watching this morning and once again deadly round of more than 30 tornadoes ripping across several Southern States this morning. More than half a Million People do not have power this morning. Alabama, louisiana, mississippi, all declaring states of emergency today. The storms killing at least 8 people including a mississippi deputy and his wife. In alabama a woman is rescued after getting trapped in her car and hundreds of homes are destroyed in louisiana, georgia now getting hit with the dangerous track moving north. Severe thunderstorms and strong winds expected to move across the northeast today. President trump delivering a message of hope meanwhile yesterday in his easter address. He told americans we are winning the battle against the coronavirus. This as the fda says that the virus is nearing a peak in the United States. Over the weekend, the president approved the disaster declaration for wyoming. This means all 50 states now and territories have received a federal disaster declaration. More than 22,000 people have died in the United States, but theres hope as new york sees a slight flattening as new cases of the virus. Experts hope the new trend becomes widespread leading to the country slowly reopen beginning next month. More good news this morning, boris son jon johnson out of the hospital. The Prime Minister thanked doctors for saving his life. Ive seen the personal courage, not just of the doctors, the nurses, but of everyone. It is thanks to that courage, that devotion and love that our nhs is unbeatable. Maria happy hes feeling better. Unclear when johnson will return to work. Breaking news this morning, sources telling me that china similar posing new rules and regulations on a local level on all materials used to make personal protective equipment. The new regulations resulted in major delays in sending the gear to the United States and across the world. Gordon chang, author of the coming collapse of china, with me earlier reacting to the breaking news in the last hour. You know, beijing has this constant antiamerican propaganda which just even in the best of times exist and so this is having consequences and its certainly hurting sales to the United States of this equipment. Maria chang also telling me beijing converting items to countries it considers friendlier. Shes alleging that the assault happened in a basement of Capitol Hill Office Building Back in 1993. Reed filed a criminal complaint in washington. She did this last week. The democratic nominee is denying charges. A stunning scene in rio de janeiro. The display honoring healthcare workers fighting the virus across the world. Piece is sending blessings from above flying in a helicopter asking for prayers to watch over the city. Getting more money to the American People is the priority in washington now. Lawmakers from both sides of the aisle with new plans to make sure that workers paychecks are covered during covid19 pandemic and the payment differing on government and aid involved. Joining us doug collins, thank you so much for joining us. Good morning, maria, good to see you as well. Maria i know that you have been able to secure hydroxychloroquine for the state of georgia. I want to get that in a moment. Ive been hearing from a lot of Small Business, congressman, its been a messy start, if you will, and there are some Small Businesses that are asking, pleaing to change the timeline where they cant take the money now to give it out over an 8week period and then tied to that 8week period because thats not going to stop them from going bankruptcy because they dont have any demand, they are shut down. Youre right, maria, maria, youre right, what we have to look at President Trump made it very clear and Vice President and the congress made it very clear that the thing that we needed to do was take care of two parts, healthcare of the nation and economic part of the nation. Putting money in peoples paychecks, making sure businesses can keep employees as long as they possibly can and those are the two priorities. What we tried to is get more money into that. What you just talked about is very true. We took a program that was nonexistent, 2 and a half, 3 weeks ago and there have been things that we have now found. Theres nothing a program this large, you will not find areas in which we need to make flexibility and what ive been impressed with the president and his team, tried to make arrangements the Small Business administration with our banks so they can have selectivity and businesses can stay in business and the economy is going to be able to start back sooner rather than later. Maria how do you think we should reopen the economy, congressman . How should they manage economic realities when it comes to the economy . Do you have a plan . What about testing, who has been testing . We dont have a vaccine yet in terms of making sure they are good to go back to work. Several things there. One, amazing you made a comment earlier, amazed how the American People have been pulled together. In georgia they do athome plasma and what we have to see is continue to see the process. What we have seen flattening is occurring and not getting too quick so youll be able to get towards the end to have month be able to take the moneys that have been put in for stimulus and have businesses opening in some areas. Some areas will open up sooner than others. You have to take the science and economics into play here. We cant stay shut down forever but we have to make sure that we are taking care of Peoples Health as well. Maria is it realistic to think that we can start opening some parts of the economy next month . I think its a possibility. I think you will have to continue to look at how the virus is developing and the hot spots that are developing and are we still seeing growth in certain areas and how we can do it. The economy in many areas is struggling because especially in georgia prime example with tourism and Service Industries and those that are being killed, i spoke to a hoteleer, hes at 6 and 7 occupancy. These are things that will take time to get back up. In light of these things we will find new areas of growth in our economy that we didnt have before in telecommunicating and how we are communicating. This will offer new opportunities as well even as businesses get back into play. We may see a whole different economy verge out of this. Maria congressman, what are you working on in terms of the next stimulus package, will there be a fourth relief package and are you expecting and what should go in it . At least one more. What we are dealing with right now is frustrating, maria. We need to make sure as you talked about, Small Businesses in the payroll Protection Plan, we need to make sure the businesses can have the money that they keep to going and we need to put 251 billion that the president has asked for in this package right now so some time this week we are not get to go pay for it straight but have no money. We need to make sure it continues the process. Democrats want to continue negotiated process which we are adding money for other things that moneys are Still Available for it. What we need to do is take the first step. Theyll be more negotiations. Mitch mcconnell, Kevin Mccarthy and the president says theres other things that we have to keep working on. We need to get money now otherwise businesses wont have the assurances. We need to get that done now. Maria well, so many important things that you need to address in particular this supply chains issue. I know Peter Navarro is working on this, getting companies to bringing supply chains here. This has been going on for 3 administrations and i guess, you know, with all due respect, nancy pelosi and her colleagues have been looking for ghosts in the russia collusion narrative for 3 years and while doing so they have completely missed the real bad actor here and thats china who has been eating our lunch for decades. Well, think about well, i think you just brought up a good point. Think of the distractions to have last year before we ever got here. The president was talking about trade deals after we went through our time of getting our the tax plan done, getting our economy going as much as it was and then the president transitioning into tax where we held we held the mexicancanadian trade agreement because of investigations. We held that up. We are missing the supply chain and the president was talking about in deals with china. Hes talking about bringing the companies back, making sure our supply chain is secure. Now we are seeing it. When you wake up one morning and you have a pandemic and you see a vast majority of pharmaceutical supply chain was based in china, when you see ppe issue now of getting where china is clamping down, it makes it even more peter is right about this. Navarro couldnt be more right. We have to make sure incentives to bring supply chains back. It will help us because youre growing jobs and manufacturing here in the United States. When it comes to our military supplies and comes to pharmaceutical supplies, when it comes to various things that we are now seeing that are in danger, we have to put a priority on that. The president has been talking about ever since he was sworn in. Its now time for congress to put aside the kind of partisan squabbles and say this is the bad actors, we have need to take an aggressive stance towards them. Maria would a supply element be in the fourth relief package, congressman . I think something addressed. We need to make sure American Companies are not exporting things overseas that can be used here first. Weve had some reports of that. Ive made that issue very clear with the white house and others. This stuff needs to stay here first because thats our first priority. Maria yeah, of course, congressman, good to see you, thanks so much. Great to be with you,. Maria maria doug collins joining us. We will be right back maria welcome back, Severe Weather slamming parts of the United States, fox news senior meteorologist janice dean on the details of extent of the damages and what americans can expect today, its coming, hey, janice. Janice here in the northeast wind gusts in excess of 60 miles an hour, possibly hurricaneforced winds but the damage across texas through mississippi, alabama, georgia, up towards carolinas is extensive and in some cases catastrophic. We had one tornado on the ground for 100 miles yesterday in mississippi and these storms are packing a punch throughout the morning and the afternoon. They will weaken but we are going to see the Straight Line wind damage potential especially over portions of the southeast up towards the midatlantic even northeast where we have wind advisories for tens of millions of americans, dc, philadelphia, back to great lakes. Its going to be incredible as we go through the Morning Hours with the potentials for not only Power Outages but structural damage. This is going to be a big deal. Theres your forecast winds this morning into this afternoon. In some cases, yeah, hurricaneforced winds along the coast and thats going to be very problematic unfortunately. If we have Power Outages and people are in their homes, its going to be trying to say the least. Theres your forecast throughout the day today. The storms will move offshore but in the meanwhile the damage is done with the incredible videos coming out of the south and the southeast. Our hearts and prayers to those folks. This was a severe outbreak, tornado catastrophe in some of the regions. Back to you. Maria all right, janice, thank you, janice dean with the latest on weather. Meanwhile we have breaking news Goldman Sachs is saying that u. S. Stocks have likely bottomed on policy support. They will not go lower because of the due whatever it takes policy approach by lawmakers and, dagen, youre talking about now fiscal stimulus between the central bank and the government. 7 and a half trillion dollars in fiscal stimulus. Thats 35 of the gdp, dagen. Dagen right, some of that is yet to come from the federal reserve. At least a couple of trillion dollars more potentially. Thats what Goldman Sachs, david, strategist including him say about the u. S. Stock market and the economy. This unprecedented combination of fiscal and Monetary Policy support and then also the flattening of the viral curve. They dont think if the u. S. Doesnt have a second surge of infections after the economy reopens, equity markets are unlikely to make new lows, but what is the low we are talking about . These policy actions, previous was 2,000 on s p 500. However, as of thursdays close, we are 25 above the recent low. The recent low was on march 23rd of 22037. We are still significantly higher than recent low but what Goldman Sachs is saying its wiping away the 2,000 call and sticking with it wont make a new low below the 22037. Weve had a really good bounceback since march 22 low which is worth noting. Maria its at least 23 or so from the lows just recently, so we will probably still see the 700 or 800point moves up and down but we have seen the lows. I like that. Ly take it. I will take it. Stay with us. We will be back in a moment. 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. Hthese expect and way more. Internthats xfinity xfi. U get powerful wifi coverage that leaves no room behind with xfi pods. And now xfi advanced security is free with the xfi gateway, giving you an added layer of network protection, so every device thats connected is protected. Thats a 72 a year value. No one else offers this. Faster speed, coverage, and free advanced security at an unbeatable value with xfinity xfi. Can your internet do that . Maria welcome back Small Business in america struggling amid coronavirus shutdowns. Many businesses uncertain about the future. The government stepping in to help offering Protection Program which guaranties loans to Small Businesses helping them keep employees on the job during the pandemic. The goal is to get that money and give it to employees who are at home. My next guest is Small Business owner who applied for the program and asked loan. Dog tag ceo, megyn. Thank you very much for joining us. Tell us for your story. Did you apply for the loan, did you get the money . We are still like many Small Business owners and nonprofits, we are waiting to hear back from that as of now. As Small Business we are nonprofit in washington, d. C. That serves veterans, Military Spouse and military caregivers. We have a Mission Behind bakeries to teach entrepreneurship and Small Business and rediscover purpose and community. We are doing everything we can in the sense that we have supplied for sba disaster loan. We submitted all the documentation that we know of as of right now for the paycheck Protection Plan and we are doing our best obviously forecast to project the financial viability of our organization just like many others out there with the difficult part of not knowing the end date, and so we are right now navigating the best we can and still maintaining our program and running our fellowship, providing tools for alumni and understanding and navigate it and employees who lost their jobs during this time. Maria you applied for the Small Business administration disaster loan, the payment Protection Plan, 275,000, dc micro grant, and then i want to ask you, your business has gone through series of stages, reducing store hours, now closing brick and mortar altogether and online store. Whats the projected financial impacts from the coronavirus virus shutdown from your standpoint and once you get the loan and you give that money, much of of the money to your employees who are home, is that going to be enough for you or are you going to need to use other levers . You know, maria, its a great question. As of march 12th, we started limiting hours and from there we went to Curbside Pickup only and shipping only. Based on costs and the safety and wellness of our team as well as our community and what we are seeing right now we are just trying to fill the hole that is right now so we are at a minimum of 130,000 at least lost and thats just by the normal order that is we have coming in through catering, retailor wholesale. Thats a minimum. Thats what we know that we lost and so we know right now we are at a deficit already and that does not include the payroll that we are continuing to pay our entire team because our team is everything and Small Business and nonprofit, you know, your team is what makes the special organization and keeps it running. So what we are seeing with the loan and from the sba disaster loan, thats for the stop the bleed and we are all wanting to get through this difficult time, unprecedented times but what will happen when we get back and mandates start getting lifted and restrictions start will ease . We dont know how the business will react. You come in and have a cup of coffee and support a nonprofit. The concern is we dont know how the community is going to participate moving forward. The social distancing and everything thats going on right now, so what we are also forecast for what is going to happen when we go back to operation and reaction of will businesses go back to usual or implications will be. Maria yeah, we are talking about testing and thats going to be one lever to get us back into the opening and reopening of the economy. We want to take a look at that coming up. Meghan, great to get your insights. Meghan oglivie, joining us this us. We will take a look how its ripping through prison system. Back in a moment apps are used everywhere. Except work. 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 maria welcome back, good monday morning, everybody, thanks so much for joining us. Im maria bartiromo, it is monday april 13th. Hope youre having a good morning. Top stories right now 7 32 a. M. On the east coast. Markets are pointing to a lower opening this morning. Kicking off a new week where we will get First Quarter earnings beginning at the end of the week. Nasdaq futures lower by 35 and s p futures down 16 points. Theres a Historic Oil Deal to report. The usa to broker a deal including saudi arabia and russia agree to go record cut in production of nearly 10 millionbarrels cut a day. A tenth of the worlds supply. The dealing failing to excite investors. Oil prices are flat. A lot of investors out there writing in morning notes that they wanted more. Price of oil is up 16 cents a barrel. 22. 94. Global market this is morning look like this. In asia it was red across the board. Take a look. You will see hong kong closed for holiday but the others down across the board. The nikkei average in japan the worst performer down 2 and a third percent. European markets are also closed this morning for Easter Monday holiday. Meanwhile this, the fbi is investigating a covid19 scam. Cheryl casone with the details there and, yes, there are lots of scams lately. This is the latest that the bad guys are turning to, covid19, cheryl. Cheryl yeah, maria, more and more probably keep coming out. Californias Healthcare Union says that it was conned for much needed supply. The union thought it struck a deal but they never got them. Fbi says that individuals in australia and kuwait had contacted the recipients through whatsapp, fortunately no money was ever exchanged. At this point this is where we are at. Well, a surge in food deliveries is forcing amazon to put new Online Grocery customers on a wait list. That start today. The company also looking to shorten shopping hours at some whole foods stores that workers can fill online requests for amazon fresh. And, maria, how does tampa brady sound or maybe tampa bay, tom brady is hoping his new home will help him make little extra cash. Bradys Company Capital management filed trademark applications for those phrases, brady, signed 2year deal with tampa bay buccaneers. I know, shocker, tom brady will cash in on his new deal, who knew . Back to you, maria. Maria it was a shocker to everybody, cheryl, thank you. We are taking a look at more implications of the coronavirus and how it is impacting bail reforms and the prison system. Lawyer Michael Avenatti temporarily released over concerns of coronavirus. Avenatti has to report back in 90 days after de blasio releasing prisoners who are at risk of coronavirus. Here is a look. Will you propose or support that judges have the discretion to let out criminals as they see fit . Bail reform for many years is based on how much money you had, maria, thats what cash bail is. If you rich you get out and if you poor, you sit. Thats injustice and not justice. I understand the fear, i understand the criticism. I said that im working on it and i believe we will get something done. The prisons are overwhelmed with covid19. We tell people, stay home because there may be covid19 in your home and we are letting the prisoners out so they can bring covid19 thats ramp it in the prison, they can bring it to us. Are you crazy maria joining me right now fox news senior judicial analyst judge andrew napolitano. Good to see you this morning. I have a very important source in Law Enforcement who told me that shes looking every day at requests. Thousands of requests from families who want their their family members out of prison because of covid19. Shes got to review all of these all of these applications because de blasio wants them out, what do you think . Andrew well, this is a difficult problem for the government. Its a problem of resources and do they want to keep covid19 prisoners in jail and care for them and treat them in jail and what is basically unsafe, unsanitary, hardly medical environment or do they want to send them out on their own where they are free to infect other people or go to some place. Many of them have no places to go so major giulianis comments are very well taken, you know, im a fan of Governor Cuomo. I think he signed the bail reform law which takes discretion away from judges and requires that people even people that are repeat offenders be set free as long as they dont reach a certain level of violence, so somebody spits on you or slaps you in the face, as long as they dont break a bone or break the skin, they dont get bail, they are immediately are released. Hes part of the problem for this. The solution to the bail issue is give judges discretion to evaluate each person. What is the likelihood that this person will repeat the crime . What is the likelihood that the person will infect somebody else with covid19 . You cant do it by a formula or computer. You have to have a judge with a prosecutor and defense lawyer solving this together. Maria yeah, well, look in the interview with Governor Cuomo he said to me that he will make a decision on this on whether to change or tweak this bail reform law by april 1st, so here we are in april 13th, we havent heard anything. Obviously hes been busy and showing great leadership on covid19 situation, but we will get a resolution here at some point. Hes got to look at this again. Hes under pressure to do so and, dagen, as we watch all of this happen, the crime numbers in new york are going up, and up because of all of those inmates and other reasons that have been let out and we will see more inmates let out because of the latest problem with covid19. Dagen its only getting worse. New york is turning into extremely scary place. Seems like grand theft auto. I think Melissa Francis posted a video of a gang on people on motorized dirt bikes, a giant group of people riding not just up the street but on the sidewalks. I walk around my neighborhood and its one car after another that had window busted out. It might be vandalism, it might be theft. Theres mass at a very minimum civil disobedience going on but criminal activity on every street in this city and its ramping and it probably wont go away because of the bail reform. Maria new york in general is up in the double digits lee carter and this is an issue that the governor and the mayor will have to deal with as they try to figure out how to isolate inmates who have covid19. Lee i mean, its a really, really complicated issue. Obviously as the judge is saying, theres no way to really manage the health of all of these inmates in the prisons. Youre putting all the other people at risk. Is there a precedent here, judge, why they would do it this way, handle it this way, it doesnt make sense go away 90 days and come back. Does this happen elsewhere . Andrew avenatti is no longer presumed innocent because hes already been convicted. Technically the conviction isnt finalizing but a jury found him guilty of attempting to extort nike of 25 million. We all remember the case because they taped him of trying to shake them down. I was surprised that he was let free. He has a home to go to and he has the means with which to address any Health Issues that he may have, so hes an unusual but an easy case. It is the poor person who has committed a Violent Crime who is sick with covid19 whom prison officials dont want to physically touch, that is the problematic and troublesome case that mayor giuliani was discussing with maria yesterday. Maria this goes back to the sameole issue that people have such problems with. Its the successful rich guy who gets out and the poor guy or gal who is in is there who im not talking about serious, im not talking about murder, but im talking about someone who is in there for a lot less of a reason and yet hes still in there and avenatti gets out. Why . And and avenatti got out because a judge decided, not the judge who presided over his trial but the judge that is about to preside over in los angeles that hes not a flight risk and not a danger to society and will show up. That really does not have to do with his wealth. That has to do with the fact that hes so well known, he couldnt harm a fly without somebody seeing him and reporting it. Maria all right. We will be watching that. Judge, great to get your insights, stay safe. Judge andrew napolitano. Quick break and we will be right back looking at the markets on a monday. Stay with us i dont think so. What do you think, peanut . Nope honey, do you think we overdid it . Overdid what . See . We dont think so, son. Technically, grandparents cant overdo it. Its impossible. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Maria welcome back, well, we are starting off with a pretty good selloff. Futures indicating decline at start of trading. Take a look at markets. S p futures down 19, the nasdaq futures lower by 45. This comes amid Historic Oil Deal, 23 countries including saudi arabia and russia have agreed to a record Production Cut of nearly 10 millionbarrels a day. Oil prices this morning are flat, down as you can see, a fraction at 22. 76 a barrel. Mitch roschelle, are you surprised markets are not happier with this deal . You would expect more of a rally given we are going to see Production Cut of almost 10 million. Mitch i think the big anxiety, maria, earnings start this week, you have the big banks, j j and health care, and thats the big stumbling block right now because we dont have earnings for these companies out and we dont have guidance more importantly and i think its what the Companies Say on Conference Calls about their forward look on guidance thats going to influence not just the equity markets but even perhaps the oil markets. Maria yeah. Im so glad that you brought that up, mitch. Im looking at a note from Advisory Group and he says forget about the income statement, its about the Balance Sheet in the coming weeks. The most important thing to watch this earning season is the Balance Sheet and not the income statement, not only debt to ratio but debt to total capital but whats your interest expense coverage ratio, what debt convenance are you bumping up again and tapped credit line and if so, whats left on it. All of the things with regard to the debt convenance are going to be much more important than what the company says about how the First Quarter looked, right, mitch, because we are not going back to january, we are not going back to february any time soon and we certainly know what happened in march. Mitch having worked on many restructurings throughout my career one of the things you start day one is you look at how much cash you have, what is coming in and whats your burn rate is on cash and some of those metrics that are typically only used in trouble companies, analysts are starting to use on highly Profitable Companies to figure out how long they can go with the cash they have on hand and the lines of credit. Maria yeah, dagen, i dont think the guidance will be very important because they dont know when the economy will reopen and they dont know peoples behaviors when they reopen. Dagen the companies will give you a big oh. We had fedex, General Electric warn they can no longer forecast their own results in such a period of uncertainty. What the finance chief said is tapping the bond markets, extending credit lines, cash reserves. Wall street journal writing about the very thing today, but anecdotally i talked to people in a bunch of Different Industries like fashion industry and clothing business, they are trying to figure out which of the major retailers survive because a lot of them could go away and go away forever and that would mean the permanent destruction of potentially millions of jobs. Thats still the big unknown. Despite of the rescues, how many jobs go away. Its really distressing and upsetting to not just executives clearly but all of us. Maria yeah, we will see what they come out with later this week but certainly when you look at the earnings per share its absolutely irrelevant because they will tell us january and february were fine but we dont know what the future looks like so we are going to get the big numbers later on in the week. The firstquarter reported season kicks off this week with jpmorgan and johnson and johnson. We will take a look at that when we come back. Stay with us. Every Financial Plan needs a cfp® professional confident Financial Plans, calming Financial Plans, complete Financial Plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Theyre all possible with a cfp® professional. The xfinity my account 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. Maria welcome back. Apple and google teaming up to help curve the spread of coronavirus. The Technology Giants are Building Software can contact tracing. Those contacttracing tools will alert phone users if they come closer with anybody with the illness. Kirk knutsson, an interesting take of what technology can do in the face of pandemic. Kirk the Chinese Government, they just mandate whatever they want to mandate on their population. We dont do that here in the u. S. They were effective with a mandatory app that tracks their population. Well, what happened was they saw how effective that was so the powers, big tech, here in california, tim cook along with Sundar Pichai said lets collaborate. What they come up with is a standard by which in midmay will start to see call it pi or tools for people to develop bluetooth standard on your phone who youre not delivering who you are ever but your phone when it comes close to somebody who may have volunteered that they have covid19, it would alert you at some point and change color saying, hey, maria, youve come close to and been exposed to and therefore we think that you should fill in the blank in terms of protocols health wise at the time to follow. Pretty remarkable. Remarkable that they got together to do this and the possibilities that technology can be the key that unlocks future of spread of epidemic is incredible. Maria you may not be able to detect somebody who hasnt said they are covid19 or doesnt have any symptoms . Kirk youre right, youre right. Maria are there other apps, what are the best apps and maps to monitor the coronavirus . Kirk the big warning right now, we talked about it all morning long, we talked about it for weeks, dont click a link from anybody that shares, hey, download the app. Go directly yourself and some of the real winners here are the obvious ones and stick with those. Cdc has outstanding map that connects with live data and then the john hopkins dashboard which is embedded around the web which is a remarkable tool to keep your eyes on. Ironically private maps like health maps dont necessarily track covid19 but tracks everything in terms of how people are feeling near you and what other flu outbreaks are going on near you and that can be beneficial information, at least see whats happening immediately around you. Maria all right, we will walk that, kirk knutsson. When we come back Steve Scalise, white House Minority whip st dec. I feel cared about as a member. Theres no extra costs for it or anything like that. Its all kinda like, through the app. Were getting a super competitive Interest Rate on our money. Were able to invest through the same exact platform. I really liked that they didnt have any hidden or extra fees. Sofi has brought me peace of mind. Truly thank you for helping me prepare for whatever the future has in store. Its all because sofi let us see light at the end of the tunnel. So thank you. Thank you. Maria welcome back, good monday morning thanks very much for joining us. Im maria bartiromo. Monday, april 13 your top stories 8 00 a. M. On the button on the east coast, Historic Oil Deal has been reached the United States stepping epg in to broker a deal resulting in 23 countries including as a soo and refresher agreeing to record cutted nearly 10 Million Barrels of oil a day, with a tenth of the World Oil Supply prices not reacting take a look, crude oil 22. 60 a barrel that is down 16 cents a barrel the u. S. Now leads the world in in reported coronavirus deaths, and confirmed cases, of course, we dont know if we should trust chinese numbers so we really dont know if china has more deaths than confirmed cases than we do these are from reported numbers there are signs the curve is he have leveling out in United States President Trump saying america is winning the war against the virus dr. Fauci saying at least part of the u. S. Economy could reopen next month. Checks are o deposited this morning in americans accounts at capital the battle over additional funding money for Small Businesses is you raging Congressional Republicans looking to add additional 251 billion dollars democrats want more money and much broad use of that money. Sources telling me the Chinese Government is interfering in the production and muchneeded export of personal protective equipment, to United States. Sources tell me that there are new rules regulations in place to put further delays in that equipment coming to the United States markets lower as we kick off firstquarter earnings reporting week futures indicate decline 115 points dow industrials dikeing off firstquarter earnings coming up beginning thursday dow futures down 118 s p futures down 13 nasdaq futures lower by 30 points comes after a pretty good week last week markets rallied dow, nasdaq s p 500 up better than 10 best week for the Standard Poors since 18974 gain 12 on the week. For Standard Poors. Deadly storms are slamming parts of the United States, over the weekend, they easter weekend southeast battered by weather mornings mornings with maria is live. Check Global Markets this morning as you can see, the asian markets were mixed mostly lower i have the was pretty much must have red across the Board Hong Kong closed for holiday european markets closed for the Easter Monday east holiday continue there go worst of was japan down two and a third percent the yield on 10year treasury looking like this, as you can see, a fractional move, nonetheless yields on 10year this morning fractionally at. 727 joining the conversation Dagen Mcdowell lee carter Mitch Roschelle here great to see about everybody. Dagen great to see you happy easter maria bartiromo. This happy easter to you hope you had a great weekend a lot going on this morning it is the kickoff to a busy week some top stories that we are watching this morning, a deadly round of more than 30 2dz ripping across Southern States over weekend more than half a Million People do not have power this morning. Alabama, louisiana, mississippi all declaring states of emergency. The storms killing at least 8 people including mississippi deputy and his wife. Alabama woman rescued getting trapped in her car as a result of storms, hundreds of homes are destroyed in in louisiana. Georgia getting hit with dangerous track moving north we continue to follow it severe thunderstorms strong winds are expected to move across the northeast, today. The fda says coronavirus is nearing peak in the United States this as President Trump issuing a special message yesterday, for easter telling americans that we are in fact winning the battle against this virus. Over the weekend the president approved a disaster declaration for wage all 50 states territories have received a federal disaster declaration more than 22,000 people died from coronavirus in the United States. S surpassing more than 19,000 in italy we do not know true numbers in china there is hope in the United States as new york has seen a slight flattening in new cases of this virus experts hoping this trend becomes more widespread certainly leading to country he slowly we opening beginning next month in may good news this morning to share Boris Johnson is out of the hospital, after receiving treatment for the coronavirus, johnson is home after a week long hospitality stay and that included three days in about intensive care unit Prime Minister thanking doctors for saving his life. I have seen the personal courage not just of doctors, nurses, but everyone, it is thanks to that courage that devotion that duty and that love that we are being unbeatable. Not clear when johnson will return to work. Prime minister of the uk we are following breaking news in morning out of china sources telling me be a jing imposing new rules regulations on materials to make personaling protective equipment new regulations resulting in major delays to export the critical gear to the United States and across the world gordan chang author of kovenlg collapse of china book telling me beijing is not reliable member of Global Supply chains underlying exactly what i reported, watch. Actually, personal protective equipment there have been horrific stories from china for instance pricegouging selling masks 4 to 5 dollars apiece even though at the only cost 35 cents to make. And we are seeing defective equipment sold to United States, china refusing to refund. Maria and all in all beijing is cornering the market on protective equipment chang telling me beijing using new approval power to divert supplies away from america to countries that it considers more friendly. This over weekend and delaya giving a stunning Easter Sunday performance. Watch. Amazing grace how sweet the sound famed opera serng Amazing Grace aven maria during the pandemic on Easter Sunday. Oil deal reached United States to broker a deal resulting in 23 countries saudi arabia and russia agreeing to record cut nearly 10 Million Barrels a day a tenth of world supply President Trump tweeted saying big oil deal with opec plus, is done. This will save hundreds of thousands energy jobs in the United States, writes the president i would like to thank congratulate president putin of russia and king salmon of saudi arabia i spoke to them from the office great deal for all writes the president joining me louisiana congressman House Minority whip Steve Scalise last week led a group of house members to push saudi arabia to actually make that cut to cut barrels to address the global oil glut, he joins me i right you congressman always pleasure to see you how are you doing. Doing well hope you had a great effort. Great to see you, i saw the letter that you signed wi colleagues to king of saudi arabia asking for them to cut production tell me about that do you think they are going to stick to these promises . I do maria, the House Energy Action team led by mark and jeff duncan part of the whip team talking to state department about dressing saudis dumping and cutting the price of oil to see the president jump in recognize this as a problem call on saudi russia to go back to table address what they were doing look the real problem we all know is that there is right now just a global shortage in demand, so you know old hundred Million Barrels a day of demand you are seeing down may be 30, to 40 Million Barrels because most governments are shut down weve got to get economy back up and running, another countries have to as well to see that addressed at least to get saudi and russia to stop their feud was adding even more fuel to the fire so he to speak dumping even more oil on to market getting that resolved is going to at least stabilize things we still need global the demand to pick up. Maria well, i wonder how significant this cut is going to either given the fact we are down to 22 daryls a barrel in oil away too low for shale producers to make any money on so it year probably still going to see bankruptcies here juxtapose cots in the oil pat of right. Unfortunately, there is a tough time right now in oil field, this is already happening, before the covid19 outbreak, and got much worse because of the global drop in demand for oil, so you know you are seeing a lot of wells shut in a lot of companies he teetering on the edge why we need paycheck Protection Program flushed up so it doesnt run out of money to help Small Businesses have gone hanthdz on including a lot of oil and gas companies. I want to steady about phase four surplus but phase three formality paycheck proposal the program, part of 2. 2 trilliondollar relief backing what is your take weather or not we are going to see thats stabilize because i heared from a lot of Small Businesspeople that, you know, banks did not understand the rules, the timing is not working for Small Business, because as soon as you get money you got to give it out to employees, and still dont have any revenue because you are in p a shutdown, do you think they will tweak the timing on that 8week period the dates for that . You know youve Steen Department treasury working rapid speed with different issues secretary mnuchin his team working overtime to make additional changes before program went online a week ago worked with banks to get issues worked out some more banks can participate you are seeing the a lot of small and Community Banks write loans i have seen numbers well over 160 billion dollars in loan applications received. We would like some you think it is working now . Well, i think working but could work better a lot of banks that were not participating first few days you saw president calling out some big banks that for whatever reason, werent helping local customers, so more people have figured out how it works for those banks that got in day one accepting a lot of applications, to small banks in my district in Southeast Louisiana theyve seen a large demand for this program. Maria so steve lets talk about the future phase four stimulus potential congress in reset until next week, but democrats blocked the measure already Senate Majority leader Mitch Mcconnell tried to pass thursday would have provided additional 250 billion dollars to the paycheck Protection Program to keep Small Businesses afloat amid this crisis, what do you want to see congressman in a phase four deal . Democrats clamming this stall to create a more comprehensive package, are down the line what are Small Businesses supposed to do if Paycheck Program runs dry and needs more money . What do you want to see in a phase four deal . Well, still focus needs to be on making fade three work are potentially making sure program has more o money for paycheck approximation program which has been incredibly popular with Small Businesses like you said there were some banks not bipartisanshiping early err on that now are Small Business starting to realize this is Important Program to help hold on, Everybody Knows you need cash flow ultimately to keep business afloat, that is why i would like to see us by end of this month be able to start looking at a plan to turn things back on turn the economy back on again, are meantime just to hold Small Businesses through tough time this program has been effective, really successful it needs the additional money the president called for, that seems like everybody republican or democrat recognitions this Program Needs to be extended i hope democrats some playing gales trying to get more ken decenter money other foolishness just help Small Businesses managing on by a thread so we get our economy back. They wands funding for planned harnt paoed for gods sakes in middle of covered 19 disaster one source is telling me he wants in fourth stimulus package something about keeping the supply chain in america, something about an incentive for companies to bring this supply chain to america so not faced with issue we have ingredients prescription drugs made in china they are saying they are not going to support them how significant an issue for phase four deal. This is something President Trump had taken on before covid breakout you talked about a little bit earlier not only the price gouging but holding back of some critical skies ppe, pharmaceutical drugs so many things we rely on i think exposed has exposed even more how we are too dependent on china for supply chain. Maria you want a phase four deal there is in a phase four frankly the administration has been in fonront of this bringing back manufacturing underscores why we need more manufacturing back to america. Maria sure does congressman good to see you this morning thanks very much. Great being with you in louisiana congressman Steve Scalise well be right back. Stay with us. In the clouds before anyone else. Together, well weather this storm. Yoall this grass. All this mulch. All these projects to do. You need a tractor that can do it all right. You need the 1 selling subcompact tractor in the u. S. The versatile kubota bx series. Lively hearing aids have been a game changer for me. The process with lively. Is insanely easy, you take a hearing test on your computer the doctor programs it, it shows up at your house a few days later. You can stream calls or music through it, its got multiple settings, audio adjustments, so you can raise and lower the levels. But its a fraction of the cost of the other devices. Its instilled some confidence i didnt have before. Try lively risk free for 100 days. Visit listenlively. Com maria welcome back, markets pointing to lower opening this morning take a look dow futures down 68 points well off the lows of the morning, actually we are seeing buying coming in here er which has allowed averages to kult losses, firstquarter earnings getting underway this week servers watching the big banks four dow components Jpmorgan Chase Johnson Johnson Unitedhealth Group Goldman Sachs reporting this week joining us right now chief Investment Officer ceo of er shares, great to have you this morning as we navigate First Quarter Earnings Period probably acknowledge that the numbers the bottom line earnings per share is not going to mean much right . It is more about debt but pushing up against covenants what does balance escheat look like how do you see firstquarter earnings playing out. As you point out, they are going be second Third Quarter a lot of Companies Already moved very Strong Companies moved up zoom, others gone way up come down from highs this is time for companies to calibrate, for investors calibrate where Companies Really are you you are seeing volatility up and down First Quarter, and going into Second Quarter people looking at how things are for growth. Of the. Maria there are a couple names you like even in this upset o selloff, Netflix Nvidia amazon zoom obvious why do you like these companies, of course, we have seen incredible increase in business in things like zoom. People work from home do Conference Calls. We publicly trade Entrepreneurial Companies these companies represent many, Many Companies within that Group Health Care discretionary, and Communications Services Companies Entrepreneurs nowadays, within these zoom up 83 , down a bit from highs were up 20 higher before we like them, r and d, the entrepreneurial leaders, know how to navigate, to take advantage like this so did quickly amazon netflix investing heavily in r and d, certainly timeslike these continue to vest r and d many paenz like this Top Performing companies yeartodate only 5 have performance publicly traded 10 growth, 10 performance three companies represent that zoom at top of the list. Fascinating thanks for weighing in as you look for opportunities, in this market selloff and uncertainty, we will see you soon, quick break when we come back we are talking about cleaning up amid a Coronavirus Crisis ceo of Waste Management joins me live, stay with us. You doing okay . Yeah. This moving thing never gets any easier. 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Selfquarantine at home, waste is accumulating, 94 americans roughly 300 Million People now under stayathome orders across the country overwhelming trash collectors, Waste Management employees are among those fighting on front lines of the coronavirus pandemic as they handle massive influx of household trash, joining me right now president and ceo of Waste Management jim fish, thanks very much for being here great to have you here, let me ask you, about your business today, your obviously, seeing a bit of a shift from commercial side of the business to residential side of the business given so many are closed can you characterize what you are seeing . A that is absolutely right, in whole world went on this shutdown 30 days ago we did tart to see a shift from that commercial industrial line of business residential. It is interesting because you are seeing fury unities on commercial industrial not seeing more homes, just wraet of each home greater recyclebin and trash bin. So volumes are you expecting volumes to portray this shift up on residential down on commercial . For the next couple quarters . Here we are in beginning of the firstquarter earnings season we know what happened in march. Are you expecting this to keep the business where it is now throughout the year a Second Quarter Third Quarter Fourth Quarter when would you expect rebound or change to this cycle. I mean a lot of i have the depends when we come out of this that we are in, it is obviously, Second Quarter is going to be down significantly. First quarter was last three weeks in march i am hopeful as we all are we start to merger out of this in qwant 3 if still m in it q3 low commercial industrial volumes higher residential volumes. Maria so what kind of a rebound would you expect is it Fourth Quarter or banking largely on 2021 at this point then . Well, i dont know, i guess, it is were probably giving going to be Fourth Quarter i dont think everything bounce back immediately depending when stayathome orders are lists sound like might be rolling basis, will affect us. Our businesses is largely in urban areas we do have some rural areas, of course, urban areas areas the most, so when you look at east probably he longer to rebound, some areas whether houston or midwest, may rebound quicker, we are hopeful that we get back to some sense of normalcy by q4. And 2021 starts to look o more regular year for us. Meanwhile, you know i give shoutouts to medical communities Law Enforcement they are on frontlines of this we are so grateful for all of them, your employees are also we are grateful to Waste Management your employees keeping them on fronts lines healthy and safe especially tasked to collect medical waste tell me how you are doing that ensuring that your employees are safe as they have to pick up all this trash, that could be infected. Right, well we have instead protocols for employees medical waste or regular trash recycling side we have greatly hansed enhanced social distancing revise those we ordered received now distributing two million ounces of Hand Sanitizer 250,000 dispensers sending to line employees, this week, they will all receive heavyduty cloth masks, they could be better than just the regular dust masks, cloth is thicker sending that out to operations employees next week all 45,000 receive a couple of those about masks we have done a lot to make sure our employees are healthy and safe. Maria and you are not furloughing any employees right Waste Management not furloughing employees, keeping the same numbers in earlies workers right now you actually extending up to 40 hours a lot of decisions last 30 days i might say the easiest one we with had to make was making sure 45,000 Waste Management employees had that 40 hour backstop, i would tell you this the response has been incredible, if people could pry through email would i have tears down the screen amazingly well received not difficulty decision on our part. Great to have you this morning thanks for insights weighing in stay safe we will see you soon, sir. Thanks so much, maria. Thank you jim fish ceo Waste Management supposed to. Once weekly trulicity is for type 2 diabetes. Its not insulin. It starts acting from the first dose. And it lowers risk of heart attack, stroke, or death in people with known Heart Disease or multiple risk factors. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. Serious side effects may include pancreatitis. Taking trulicity with sulfonylurea or insulin raises low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Producers he reaching Historic Deal to cut production Cheryl Casone with details big story of the morning in markets, cheryl. Cheryl really is could be a boost we hope good morning 23 countries did agree to cut theerl 10 Million Barrels a day starting may 1, President Trump to help get a deal done end aguiar between saudi arabia and russia a little bit of jifrp threequarters of one percent prices you go plupgd following sharp drop in demand to pandemic. Chains stepping up to help proefldz on frontlines of the coronavirus pandemic hilton going to donate one Million Hotel rooms to doctors, nurses paramedics emergency medical about technicians through end of may marriott donating 10 Million Dollars hotel space for Health Care Workers. He have focusing on hardest hit of the country new york, new jersey new orleans washington allowing customers to use work place to donate coronavirus efforts, 80 hotel rooms nationwide empty, due to this outbreak. Well he will the air force thunderbird showing support for those fighting on frontlines coronavirus pandemic. Yeah thunderbirds on saturday is a tribute to Health Care Workers First Responders essential personnel 8 f16 fighting. The show did go on, for saturday night live first ever at home edition, with tom hanks host. Since being diagnosed i have been more like americas dad than ever before, since no one wants to be around me very long, and i make people uncomfortable. Cheryl suspended production last month amid outbreak talking about this earlier i will just say a for effort what i got from that one back to you. Maria i agree with you absolutely i agree thank you so much, we are looking at markets impact of the coronavirus bars across america shutting doors due to this pandemic but that does not mean americans are not buying booze according to nielsen alcoholic beverages jumped 22 , online sales booming president ceo of anheuserbusch north America Thanks very much for being here first assess the situation i know going into this, we had a lot of pressures hitting the entire industry. Are you seeing a jump in demand today or are you seeing pressures from topdown issues of all the establishments being closed . Good morning, thanks for having me here, so first of all, we are living in unprecedented times it is very important that this in industry not only more portion i think that we see numbers up there that are jumping for people stocking up because of that, this is more comforting lying, we also have retailers bars restaurants, as you said, before that are very important to the industry. And they are completely shut down. Our looking into this crisis, not only from the business standpoint but first of all, about thinking about those People Safety of those working for us donting a number of protocols that allows to us continue to maintain our business Business Continuity so several partners, farmers we have he retailers we want to make sure that our consumers have feeling of normalcy when they go shopping in supermarkets one of the things they continue to do on top of that supporting our communities something we always do maybe here have a long history of setting up during periods of crisis to support the community that we live in so our business is local, 95 local we are always in support in community in periods of crisis this time is not different. I want to get to that in a moment but i think in face of all this you have also been trying to broaden out the portfolio to invest in certain areas expansion framework where youve got large mainstream exposure tell me how changing the portfolio making changes to broaden things out as we do face these pressures. Things moving very fast there are consumers have now a lot of time to think. What they want to do but you can see that in a way they are coming back for established brands brands they know and trust. And because of that, the channels in which they are buying you see mainstream brands are growing, having actual you will very good result and, of course, having chances to experience some different products, and from our side we kept our optimization we are not doing much more than was before but everything that was in pipeline we found to you launch now this is a channel the right channels to do we have done but there is a lot of simplification as well so people can do better operation maintain Business Continuity without additional complexity all very hard things to navigate are you seeing increase in sales because people drinking more alcohol in face of this pandemic. Overall what you see is a fair amount of people that are buying more alcohol and the same number of people that are buying less, think about occasions that is occasions that you can have it now people much more time at home, you lost occasions outside of home because of that you see numbers slightly up because, but not much consumption than you would have. How are you he dealing with issues on supply chains . Have you seen delays, or upset to the supply chain . Because do you have business across the world i want to get your take what is happening in china right now, for example. When you think about our business in north america it is particularly in west our team is doing unbelievable job, so people working day and night, and doing extra efforts, of course, all covered by enhancprotocols that have amazing job. No issues to the supply chain. So far no, so far no our Team Continues to deliver we kept normalcy of the business to this point. Maria all right. We will be watching dhaifrpgs for joining us this morning, the ceo of anheuserbusch this morning, unprecedented way to celebrate easter weve got celebrations from across the globe esteemed panelists celebrating that is right here. Maria welcome back, finding ways to worship easter looks different across the world this year, fresh challenges, of course, forcing people to celebrate creatively in the wake of the coronavirus. Will the staying at hole isolated one of my favorites and drya, in milan in front of empty cathedral watch. Amazing grace, how sweet the sound maria . Pope Holding Service wanted to see parents i didnt i followed guidelines made sure i was not with them for easter i was alone we did a zoom virtual dinner for my husbands family for passover wednesday night it was good. Happy passover. How did you celebrate. Happy easter, i pray all day long every day, i say the serenity prayer several times every day, when reminder of american resiliency i got outside took a run, down west side highway didnt go in park took photo of statue of liberty important reminder i send to good friends including Meghan Mccain if we have a shot of that, i dont know if we also have photo of my dad sent me he was i as if he with dad 6 30 every tonight that is my moms tree in backyard full bloom reminder still with us beauty she left behind. Maria i saw that i love that you tweeted that picture of the flowers as well, they are beautiful, we all added a twist to usually trajections lee carter i know your family got together best way you could, you also had a virtual celebration. Sure did missed being with everybody so much especially easter family got together, everybody made their easter bonnets so much fun to see flowers blooming different parts of the country thankful for time together the other thing really, really fantastic is my uncle is a ministries cousin married to minister able to participate that way meaningful, it was the first second easter last year a couple weeks old this year able to enjoy it so we made easter cake she loved it we had a lot of fun, but just miss that in person it is not the same. I love that she is having fun doesnt know pressures we are under i too went out exercised went on beach along how was your weekend. Great my kids in college so home we got to spend a holiday week with them was really a treat. I dont have any pictures of them because i dont think they have shaved since they rushed i wouldnt want to scare audience i do think shared debbie and i out on food run at costco i saw American Flag there i had to buy it son and i put American Flag up other day, as a symbol of american resilience that flag is flying. And fantastic i love it i love to see that flag. One in front of the house now one this back of the house for all to see. Maria awesome, coming up the state of Small Business many are still waiting for the loans from the government we are going to look at that get final thoughts from panel when we come back. And hay. Lots of hay. You need a tractor built to get every job done right. The kubota l series tractors. Sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. The theater home to you,t to with xfinity movie premiere. Theres a world full of other trolls. How different can they be . Our brandnew service that lets you watch all the latest movie releases from the comfort of home. Trolls world tour available now. I will protect you no matter what, pinky promise. Just say xfinity movie premiere into your voice remote to bring the theater to you. Maria welcome back, congressional officials working toward a deal on Small Business loans, for companies affected by covid19 pandemic Edward Lawrence live this morning with more on that he hadward. Reporter before we get to that i want to tell you a senior treasury official tells me today or tomorrow direct deposit payments to eligible americans will go in ahead of schedule the irs working on that, the treasury secretary at request irs speeding up process muchneeded help on payroll Protection Program they are working to try and put more money into this program, because self employed contract workers to apply for loans demand expected to spike more work that goes into that because they have to figure out exactly how much money they can get in the loan how much money they actually make in salaries the big banks at this point the taken applications not processed those threw, Mitch Mcconnell working over the weekend to try to get an agreement democratic senator is confident more can be added to payroll protection acting as long as part of a bigger package that funds more needs democrats identified. Is to as long as we are taking care of First Responders Health Care Professionals i have been lifethreatening to hospitals up and down my state. Democrats would like direct payments to statistic local governments as well as help for republicans want to change number in the cares act get money out now to make sure program doesnt run off the money to deal with phase four stimulus later president indicating could be bigger package including infrastructure may be more difficult to negotiate, maria. Maria lot of things talked about to put the into that phase for you deal edward thank you Edward Lawrence, great reporting as always stay with us for final thoughts from our esteemed panel when we come back. 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. Maria all right. Welcome back. We are about a half hour away from the opening bell on wall street. Futures indicating a decline of about 100 points right here. The s p is down 10 points, the nasdaq lower by 29. Big week, dagen. You got the First Quarter earnings beginning later in the week and a big deal for the oil sector which includes the Production Cut. Right. I will shine a light on the big banks that people are going to in need, Small Business owners trying to get these paycheck protection loans and also Economic Injury disaster loans. There have been four million businesses who want those disaster loans, with 383 billion that they have asked for. Congress has allocated 17 billion. Is there a lower grade than an f, chase gets it because all the people i know who bank with chase, its been a disaster and their reps cant even talk to them or email them back. Fminus for chase. They need to get with the program and save american business, because we bailed you out as taxpayers and now where we are. Maria mitch . Yeah. Those loans, the queue is really starting to il fill up there. Last week was all about applications. Now they are starting to fund. I think we will get to that 349 billion pretty quickly. I would like to see Congress Just ask to extend that program so people dont get left high and dry. Maria yeah. Leigh, across the spectrum you have companies trying to adapt to a shutdown in business so they are getting money in this Paycheck Program, giving it to employees. Thats not doing anything for the sustainability of their business, given that they dont have any business. They need to get the economy open again. They need to get the economy open again and we do need to get money back in the hands of the people right now. Small businesses, 1 in 4 people in a recent survey say they have either lost their jobs or had impact in their paycheck. 60 of americans now are concerned about making their mortgage or rent payment this month. We need to get money back in the hands of people but we need to get the economy open and moving again so that issue isnt one we have to worry about anymore. Maria everybody is moving fast. 35 of gdp is stimulus. Dagen, lee, mitch, great to see you this morning. Have a great monday. I will send it to varney company. Stuart varney, take it away. Have a good day, stu. Stuart thanks, maria. Good morning to you. Good morning, everyone. Heres where we stand. The number of new cases in the United States may be peaking. The economy appears to be at a new low. Contradiction right there. That is the backdrop to the most important discussion of the year, when to start reopening the economy. The debate is raging. The president has suggested that next month, some parts of the economy in some places could be up and running. His political opponents and some medical experts suggest that that could be too soon and could cost lives. On the program, later