Transcripts For FBC Mornings With Maria Bartiromo 20240713

This on top of slight gains yesterday at 4 00 oclock. Markets were up. As you see dow industrials up 33 points and nasdaq up 139. Getting america working once again. President trump announcing plans to reopen the economy in phases. The president went through it yesterday. The Small Business aid program has run dry on capitol hill. The battle is waging on how much money, how much to add to funds to help business and American Workers now. Coronavirus is taking a toll on the chinese economy. It has contracted 6. 8 in the First Quarter. First ever quarterly contraction and wuhans death toll revised up 50 adding fuel to questions of beijings actual reporting on the virus. Secretary of state mike pompeo live at 8 30 a. M. Eastern on the possible origins of the virus as more people focus on the lab in wuhan, something that ive been putting the spotlight for months. What actions can be taken to china for lack of transparency. Mornings with maria begins now. Positive news on gilead. You saw the futures in the u. S. Lets take a look at european indices, gains across the board. Ftse up. In the uk lockdown has been expanded for at least 3 more weeks. In asia across the board, decline. Gains across the board, korea up better than 3 as well as japan. Oil prices headed toward a second consecutive weekly loss this morning after opec forecast sharp decrease in demand across the world. Price of oil now at 18. 58 a barrel. Some of the top stories that we are watching this morning, President Trump unveiling new compliance toward reopening the u. S. Economy. The white house using a 3phase approach driven by what President Trump says are medically driven metrics. Our country has suffered, the world has suffered, my guidelines will take a phased and deliberate approach to reopening their individual states. Maria phase one begins by allowing restaurants, sporting venues and gyms and places of worship to reopen with strict social distancing rules. Schools and bars will remain close in phase one. Elective surgeries can resume. Phase 2 to loosen the guidelines along with nonessential travel with phase 2 as well. Bars can start to reopen doors with reduced capacity the president says. Large gatherings must still be avoided. Phase 3, employers should still follow social distance, provide temperature checks and as many as 29 states may be ready to open before may first. As researchers race for a vaccine for coronavirus, there are reports some patients are responding to universal drug. Giliead sciences remdesivir which is possible treatment for ebola. Patients given daily infusions were released from the hospital in less than a week. We will really kick the tires on remdesivir. Stock better up 9 a share right now. Theres moderna to accelerate development of covid19 vaccine. Started a three phase study last month. Seven dollars a share as we continue to bid up the companies that are working on a vaccine. Boeing is back on the job. Limited jetliner production to resume in seattle area on monday. 27,000 employees will return to work at boeing. Boeing at 3week shutdown due to stay at home orders. Boeing adding Safety Measures, mace tasks, protective equipment to prevent spread of the virus. China First Quarter gdp6. 8 , first contraction on record as beijing continues to battle the deadly coronavirus outbreak. Sharp declines causing Ripple Effect throughout the economy. Joining the conversation on the phone china Leland Miller and along with ubs Financial Private wealth adviser alli mccarteny. We are continuing to question anything coming out of china. A lot of us possessions swirling around chinas reporting to have outbreak. City officials where the virus originated revised death toll, 50 higher than previously reported. I mean, 50 . Earlier deaths were missed because of flooded medical facilities. Leland, yourry your reaction and revision that we questioned from the getgo anyway, we knew that the numbers were not correct. Maria, you led off with right take away. Any number coming out of china specifically any type of political relevance shouldnt be taken for granted. The reality, our data shows it was even worse. They came with negative 6. 8 . We showed contraction to negative 11 . Still not good and then if you look at the medical numbers, look, there are Different Reasons why wuha, in may have different death tolls, numbers, changes overtime, the problem is not wuhan, the spread of the injection of wuhan in china are absolutely incredible. You cannot have 50,000 plus infections in wuhan and 30,000 of china which is 3. 1 billion people. What is happening outside of wuhan inside of china is a real story. The numbers do not make sense. Maria yeah, especially since you consider the fact that there were no contractions in beijing. I mean, is that even possible that no one did they protect the communist party that much that there was no contraction whatsoever in beijing or is that another lie . Leland no, its absolutely ridiculous. If you look at official tallies, no one in major cityies contracted. These numbers are not just unbelievable, they run believable by a factor of say a hundred or so. We did a look into some of the we did the economic numbers but we did a look into the reality of the medical numbers, chief economist did a longer piece on this. We have on twitter feed, you know, his conclusion was that we are short of this by literally over factor of 100. The size of china cities, the amount of travel that was going on before they locked down. You cant be looking at a number thats under the multiples. Maria dont forget, Dagen Mcdowell, as you come in here, 433,000 people traveled from china to america after it was known about the coronavirus. So they allowed 433,000 chinese to come to america after it was well known. No surprise there, dagen. Dagen right, and taiwan warning the World Health Organization that there was evidence of human to human transmission at the end of december and it wasnt until january 20th that chinese leadership came out and said, theres human to human transmission of this virus. Leland, china regardless of the reason unlearned this virus on the rest of the world and now its very clear in their behavior and what theyre saying and doing, is they are trying to come out of this sooner and quicker economically and financially than the rest of the world, but can they do that . Theres still exportdriven economy so the United States is flat on its back economically, but, again, that is pain for china. Leland thats exactly right. You know, this problem has metastisized for china. The ability to either have a vshape recovery or report vshape recovery in march and april band on their way towards the imaginary growth targets that they want to hit for the year 2020. This is no longer just a story of domestic resiliency. The chinese recovery is dependent on the rest of the world. With so many export partners shut down, you dont have any Global Demand. This is a situation where the chinese thought q1 problem and now turning into a q2 problem and we are to have a contraction for the first half of the year and the surprising for beijing is almost totally out of control. Maria saraj, jump in here. Leland, one question, is there anything that the United States should be doing to avoid an l shape to make sure that the contraction isnt a permanent one . Leland well, look, so much has to do with how much we can contain the virus back at home. Its very difficult to make comparisons to what china did because hawaii draconian the lockdown was once they got serious. I think this is the question of how to minimize the curve here and try to slowly bring ourselves back to work but this is the problem with Economic Forecasting right now for china or the United States. Until we know how long the economies are going to be shut down here and europe, et cetera, you cant do any modeling for full year 2020 growth. Its looking gruesome right now. Maria it sure is. Leland, so far you have a number of companies within america that continue to sell to 1. 4 billion people in china. They want to have their supply chains there and make sure they get cheap labor. What is it going to take for American Companies to recognize if youre going to go to china you better go with your eyes open, they will steal, they will lie and try to overtake you as number 1 supplier of whatever business youre in . Leland rest assured American Companies are realizing this right now. We work with a lot of them. What you saw increased realization that there should be contingency plan b even if you arent moving out of china. You saw that on the rising geopolitical tensions over the couple of years and now youre seeing frit covid spread. I think the reality is that in the past everything was focused on getting the lowers cost and shareholders would demand the lowers cost but now that they understand that there are real vulnerabilities here with the supply chain and things can be completely cut off, whether we are talking about pharmaceutical, auto part sori t parts. I think theres a realization that you have to have a plan b. Maria yeah. Leland this is going to be the new norm but it will be a hit to earnings down the road. Maria yeah, that will be the ultimate accountability, not the lawsuits that some are are preparing and not the legislation that others are preparing to assure that china is accountable for all of this but the actual end result of less business. American Companies Companies pulling out of china. Leland, we will check, thank you very much this morning, Leland Miller joining us there. We are just Getting Started this morning, we have a market thats up 705 points. Before we slip in a break alli mccartney from ubs. The markets are rallying do you think its the success of Gilead Sciences as well as the president went through phases to reopen the economy . Alli, maria, you hit the nail on the head with both of them. The market has been optimistic, we are trading 18 times forward earnings. Lets all assume we dont know what forward earnings is and lets take that 10 . That means we are trading at 20 times. Thats historically above average. We have a lot of optimism price intoed the market and i think it has to do with exactly what you said which is squarely having moved from panic and adjustment to a sustained recovery, the question is everyone is indicated this morning is what is the path and tenure of the recovery. Maria lets slip in a break and we will talk about this all morning this morning. Back in a minute. Stay with us. When you own horses, you dont just own horses. You own a pasture. A fence. A barn. An arena. More fence. And hay. Lots of hay. So you need a tractor built to do it all. And do it right. You need the power to handle anything. You need versatile performance matchedattachments. You need the 1 selling compact tractor for a decade. The kubota l series tractors. 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 our Retirement Plan with voya gives us confidence. We can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Im good at my condo. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Maria data reportedly showing that galead is having success with antiviral drug treating the coronavirus. Joining me right now etf ceo tom liden, tom, good to see you. Are you seeing interest in investors in things like this in terms of etfs having to do with whatever is benefiting like the pharma sector or ppe equipment, et cetera . What kind of an investment reaction have you seen, tom . Tom absolutely. Things surely have changed. We have seen a big shift in the Way Investors have been looking at the markets these days and trends have been clearly in place. Work from home has surely affected the way we have seen flows in etfs. Its funny, the nasdaq 100 or fang stocks have performed up well. They are fraction up year to date and when you talk about stocks like gilead a biotechnology, bbe that has 10 of holding within that etf. So theres always etf to handle certain areas of the market for sure. One area thats really important to take a look at is gold, gold is up over 13 year to date. The biggest etf. Gold etf gld. If you feel like the president s plan is great, look outside of the u. S. , theres opportunities, emerging market etf dbm, has currency adjunct as well. Maria but tom, youre talking about emerging markets and we just had the news that beijing reported its First Quarter gdp contracted, 6. 8 , that was the first ever contraction since officials started reporting the data more than 25 years ago. So isnt that going to have an impact on emerging markets and other emerging markets in addition to china . It has a contraction in the first gdp, tom. Why would i want to buy markets right now . Tom if we are feeling encouraged of getting back to work and encouraged of getting out again and getting the economy going, we need to think moves ahead and in this case emerging markets would supply the u. S. With a lot of different materials, are going to get that extra um, if that we need. Dont just look at the u. S. As most investors have. Maria tom lyden, thank you so much. When we come back President Trumps 3phase plan to open back the economy, back in a together, well weather this storm. Moment. Rotected, her strength respected. Depend. The only thing stronger than us, is you. I often get asked what should i do if i think i might have corona virus . People who are sick should stay home. You dont go to an emergency room. You dont go to a clinic. You get on the phone and you ask for advice and instructions from your physician. We dont want you to go into the e. R. Or the Doctors Office without talking to them first, because you might spread corona virus to someone else. Please visit coronavirus. Gov for more information. 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, reopening the economy. President trump is outlining his 3phase plan for governors to restore normal life in america. My administration is issuing new federal guidelines that would allow governors to take a phased and deliberate approach to reopening their individual states. Our approach outlines 3 phases in restoring our Economic Life. We are not opening all at once, but one careful step at a time and some states will be able to open up sooner than others. We are starting our life again. We are starting rejuvenation of our economy again in a safe and structured and very responsible fashion. Maria the president said that phase 1 can begin soon in many places. It would encourage strict social distancing rules but would allow large venues and sports venues to reopen. Lets talk about this, Dagen Mcdowell, how quickly do you think states would move toward adopts the guidelines in some restaurants in order to have the social distance requirements will probably have to retro fit or change their makeup of the actual layout, what do you think . Dagen and you also have to get consumers willing to go back into restaurants and be back out in society in a way close to what we used to, certainly not what we are seeing in places like new york city. New york and the surrounding states have extended that pause until may the 15th, but so important that President Trump emphasized that this is a state by state, governor by governor decision because new york, new jersey and connecticut and surrounding area its not like out there somewhere in the midwest or parts of the south where you have dense populations. One of the things i want to bring up about antiviral remdesivir. This was actually leaked information. This wasnt official release, 2 phasethree clinical trial. This drug, this is the kind of thing that will allow the United States to reopen much sooner. We dont need to wait for a vaccine if you have an effective drug out there that can treat the most severe patients. Maybe we dont get back to concerts and large gatherings but this could be this is why youre seeing such a reaction in the market because this is what will save businesses since democrats are sitting on their asses and wont fund Small Business protection program. They dont care they turned their backs on the American People. This is this shall decease this is private business, this is healthcare ready to reopen the economy if its as effective as this initial report says. Maria yeah, alli mccartney, investors are buying into it but is this a shortterm optimistic move, do we need more . Alli, thats the question, investors are largely and institutionally fundamentally position, ie, they feel comfortable. The volume has been really light, you have a bit of positive news and bit of negative news like you have today and you see people coming in. I think that ultimately we are not going to get back to work until we have something that makes this not life threatening. Thats the issue and so when you hear even on rumors something as substantive as where gilead and moderna are today thats optimistic and we are humans, we want to be programmed psychologically to look for the positive. Maria lets slip in the break. When we hope back i am talking to ceo of verizon. Stay with us for that. Maria welcome back, good friday morning, everybody, thanks so much for joining us. Im maria bartiromo, it is friday april 17th, top stories right now 6 32 a. M. On the east coast. New optimism this morning in the fight against coronavirus. Gilead remdesivir reportedly showing effectiveness in treating covid19. The stock is soaring on the news this morning. Big story for markets. News sparking a Global Market rally this morning, that along with details on the reopening of the u. S. Economy from President Trump has futures surging to close out the week this morning. We are looking at a gain this morning at 750 points on the dow industrials. S p this morning up 84 and the nasdaq up 190 points. This on top of yesterdays gains as well at 4 00 oclock on wall street all major indices had chopped up gains, nasdaq was up 1339 and s p up 16 on the session yesterday. Global markets this morning also posting strong gains. European indices right now are higher across the board with the ftse 100 up 196, cac quarante up 175 and dax index in germany higher by better than 440 points. In asia overnight it was green across the board despite the fact that we got negative news out of china again, 6. 8 decline in chinas gdp for the First Quarter. That is certainly once again gives us window on whats going on in the chinese economy and shanghai composite still up twothirds of 1 . Japan up better than 3 as was korea. Oil prices this morning heading to a second consecutive weekly loss after opec is forecasting a sharp decrease in demand. The price of oil now at 18. 83 a barrel. Meanwhile this coffee giant starbucks announcing a plan to reopen u. S. Stores. Cheryl casone with those details now, cheryl. Cheryl thats right, maria, good morning. So the company says it wants to start opening more u. S. Locations next month. Ceo Kevin Johnson outlined the new plan in a letter sent to employees. Starbucks will use its experience in china as template calling the new phase monitor and adapt. The coffee giant started Testing Service options in over 300 locations across the country including contact less service, pickup and curbside delivery and atHome Delivery. Employees at work will get catastrophe. The stock is up 25 in the premarket starbucks. Uber is withdrawing Financial Guidance due to coronavirus pandemic. The Company Expects to take a charge of 2 billion for the First Quarter. Uber has programs to help drivers and delivery people. They have been hit by the outbreak. Company will release results in may. The stock right now up about 7 and a half percent in the premarket. Michael cohen going to be released from prison early over covid19 concerns. President trumps former lawyer in quarantined for 2 weeks and serve the rest of his term the under home confinement. Hes currently at new york prison where 14 inmates and 7 staffers tested positive for covid19. Cohen serving 3 years, he was set to be released in november of 2021. Well, a judge has denied roger stones request for a new trial. Stones legal team claimed one of the jurors was bias based on her antitrump social media post but the judge said they could not prove that because he must report to prison within 14 days, but it is not clear if the pandemic is going to delay that timing. Finally, a lot of folks are getting pretty darn creative to pass the time while they are stuck at home, but this family in california took it all to the next level. Theyve built a machine. The amazing creation takes up 2 stories of their house. They built it just to score goal at the end of it. The family says the whole thing took 13 hours to build, maria. This is pretty good. I wouldnt know how to build one step of that thing but they did the whole thing in 13 hours. Maria that will keep you you busy while staying at home. Cheryl, thank you. Cheryl you bet. Maria we are talking about reopening the economy this morning. President trump announcing formation of great economic revival Industry Groups with leaders from sectors across the economy working toward a path forward amid the covid19 pandemic. One of the sectors represented telecommunications compromised from leaders of top American Companies such as verizon, comcast and charter, joining me right now ceo of verizon hans vestberg. I know you spoke with President Trump on the telephone, can you tell us from your standpoint about how to reopen the economy . The conversation is everyone is calling me back as soon as possible and more Important Health and safety concerns, so that has to balance out in this time and ceos what they are doing in private sector to get the economy starting and doing their activities and the pharmaceutical companies talked about what they are doing. Of course, a Telecommunication Company like courses we have never closed because its important infrastructure in these times and i still have over 20,000 employees in the front line in stores, engineers, keeping the metrics up. So was a discussion mainly, sharing the best practices between the private sector and Work Together to get the economy open. Maria so what has been the impact then, hans . I want to thank your employees for being on the front lines, big shoutout for them for doing that but what i keep hearing from guests that come on the program as far as the impact of this is one impact has been its an accelerator of the Digital Transformation that weve all been experiencing. So what specifically has been the impact, you just mentioned your people on the front lines in retail. That was one of the things that analysts thought that verizon would see impact on the downside, that you would have fewer customer transactions in the retail shops as a result of this. Give us broadly speaking what your impact has been at verizon. So if you start with net worth since covid19 outbreak enormous surge in data, gaming up 150 . Vpn connections from home up 50 , streaming up 30 , 800 million calls a day, twice amount of day which is biggest calling year. Thats what we have right now. Enormous change but the last weeks when you come ware week by week very little change. That tells me that we have settled into this new model. Thats what we see from business point of view on the network. But network fantastically, robust, no major or minor problems in these times. Thats what we have seen. We have 30 of our Stores Opened with also some restriction, only by appointment. So, of course, less of buying phones but, on the other hand, people are now finding where customers are finding to buy and many hurdles have changed. Education from home, telehealth, things that we thought that maybe its difficult to do but in these times those hurdles have gone away. Maria yes, thats a great point and, of course, you announced yesterday a deal to acquire the cloudbase Video Conference platform blue jeans, this as millions of americans are turning to video meetings as employees work from home amid the pandemic. Tell me about this, Video Conferencing Services Like zoom have been facing issues like privacy, tell me the importance of acquisition and how do you walk the balance of dealing with privacy and security in Video Conferencing, hans . Blue jeans is a great company. Enterprise Video Conferencing. We have been working with them since may last year. We have done all of the tests and everything that we need to do as partner. We still have to resale product in the opening of the Fourth Quarter last year and then one thing led to another and now we are acquiring them. Ultimately its a great for our enterprise customer, small and medium businesses that are transform to go digital. So thats thats how we see it but not only that, its also part of the 5g because the 5g will have processing and then one of the Key Applications there. So its very well into our strategy in verizon and to our customers and help them with the transformation. Maria so hans, leads me to the next question of how things might change when we get to the other side of this. You know, do you think that some of the things that weve been experiencing in this shutdown and stay at home order will continue once we are done with covid19 and we get to the other side of this, what kind of changes in Corporate America are you seeing, are you hearing about, are customers allocating their capital differently as a result of sort of a new normal on the other side . Yeah, its going to be a new normal. Its not going back to how it was. I talked to largest corporations and all of them, of course, are seeing things that they plan to do over time. Work more digitally, et cetera, that has happened with the unfortunate situation, covid19. I have 116,000 employees working from home. Not even i thought that would be possible in less than 2 weeks when we transformed that. We retrain them to work with other tasks. I think all of us will reevaluate how can we work differently. Thats what its all about. How can you make even better workplace Going Forward and having more benefits to it, so, yes, i definitely think that we will work definitely. Barriers as i said telehealth, remote learning, those types of things will be much more natural in the future and actually be used both for corporation and society. Maria really interesting. Almost like so when we went into the year 2000 and we had the whole new environment of dot com, we started changing our lives. This is similar where it will change how we approach our work and life when we get out of this, hans. Absolutely. It is actually working in another way and, of course, part of it was the technology is working, the mobility, Cloud Services across the country. Its working very well. I mean, thats attribute to how legislation has been done and company like us can invest between some 17 to 18 billion u. S. Dollars a year in the network. Maria yeah, i know that you recently increased your cap x to invest differently. Hans, great to see you this morning, thanks very much. Thank you very much. Maria hans vestberg, ceo at verizon. Coming up keeping yourself digitally safe in the phase of coronavirus. We will tell you what you need to know when we come right back. Maria welcome back, slowing the spread of coronavirus sparking privacy concerns. Technology giants apple and google launching series of updates to smartphone operating system that is will use bluetooth signals to track potential coronavirus cases. But that has many asking about overreach, joining us right now cybersecurity and privacy expert adjunct professor lisa garber, great to have you this morning. Thank you very much for joining us. The journal wrote about this in the oped section. The government imposing new digital surveillance tools to track and monitor individuals. We welcome the opportunity to understand who has covid19 around us, but its also surveilling our whereabouts, lisa, and thats what they do in china . Lisa exactly right, maria, we have seen the erosion of privacy take place in china, asia and now we have also seen it in europe in the past month and a half and now the u. S. Is following suit. Obviously this is an emergency situation, we need to respond accordingly but we also need to understand as to this and consumers of the technology in place what it actually means for our privacy moving forward during the pandemic and after as well. Maria yeah, and i want to bring in siraj, many of the governments did not seek permission from individuals before tracking their whereabouts and their cell phones to identify who were the covid19 sickened people. Yeah, one of the things that separates america from all the other countries is our American Values privacy and personal freedom. Lisa, can we get back on track without worrying about government tracking . Leeza to get back on track is a necessity to understand and track to contain the virus but there are different ways to do it besides bake it into technology. That start to border on the commercialization of it which is whats concerning many privacy advocates. Maria also concerning is this ever going to get unwound, right . We will get out of the covid19 pandemic at some point. We will get a vaccine at some point but how likely are the governments to unwind the idea that they could just know where you are and track you . Leeza thats the real issue, maria, the federal government is relying on Technology Giants including apple and google but also the Telecom Giants as well and these are rights infringed upon and when you look back at the 911 crisis, you look at the patriot act which didnt have as many sunset provisions as many privacy advocates would hope. Now we are relying on google and apple to phase out technology after pandemic but theres no black and white as to when that would happen. When you update android and ios updates its really a question of when that will ever go away and most likely it would not. The privacy mechanisms will be depleted by the time the pandemic is over. Maria wow, very important to understand where we are going with all of this. Leeza, thank you. Leeza garber on privacy concerns which we will continue to stay on the subject. Lets take a break, traditional tax day has come and gone. Its not canceled. What you need to know for the july deadline. Coming back in moment nstruction. 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. Its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] maria welcome back, well, the coronavirus extending the taxis and taxes and wednesday was tax day and you have until july 15th to file taxes. Cta and Business Analyst dan geltude, what do we need to know to make sure we are doing everything right to this new date july 15th. July 15th is the new april 15th. Listen, if youre getting a refund you should have already filed. Theres no reason to allow the government to have an interestfree loan. Its your money. Its not patriotic thing to do. Make sure you get filed as soon as possible even though we have this extension for some 90 days, but the really good news in this, maria, is if you actually owe taxes, you are going to be able to defer that out until july 15th, thats a great thing for taxpayers. They get to hold onto that money that much longer. That also includes ira contributions, youll be able to hold onto that until july 15th and, of course, the first two quarters estimated tax payments are not going to be due until july 15th, so all of this good news for taxpayers getting refunds or holding onto what will be taxable later on. Maria yeah, that was the point of it, right, the treasury wanted to take some pressure off individuals. How about the state taxes, anything we need to know there about filing your state taxes . Same deadline, right . Well, not all the states, maria, have followed the irs with these due dates, so this gets a little complicated. Most have filed or followed rather the july 15th due date, but not all of them have. So this is going to be a little messy for taxpayers and, of course, their tax preparers because depending where you are, you may still have due dates that are not the same as the irs. Maria yeah, i know. I saw that and then i checked with new york. New york is with the federal, but youre right not all states are. We reached out to our viewers, dan, we we wanted to get some questions to make sure we answered what they want to know about. While we have you, the expert here to answer, we want to make sure we get you the questions from viewers. Henry ricko from west texas asked this, what are the tax ramifications of the stimulus payment, great question, thank you, henry. Yeah, that is a great question by henry. So those stimulus checks, guess what, free money. Youre not going to have to pay tax from the check that you get from the federal government. And by the way, that also extends to the Paycheck Protection Program. So that money you get, if that loan is forgiven, that is not going to be taxable either. Maria okay. All right, i like that. Dan, great to talk with you, come back soon, we will need some more answers. Stay with us. Quick break coming it has seen the break in the clouds before anyone else. Up. 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. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Many maria bartiromo. It is friday, april 17th. Your top stories right now, 7 0. New optimism in the fight against coronavirus. Gilyead Sciences Drug showing promise in the fight against covid19. Investors are buying this morning, futures indicating a gain on the dow industrials when the market opens in two andahalf hours, the nasdaq currently up close to 200 points higher. This extending yesterdays gains, at 4 00 on wall street markets were up with the dow industrials picking up 33 points, nasdaq up 139 and s p 500 yesterday up 16. Getting america working once again, President Trump announced plans to reopen the economy in phases. Meanwhile, the Small Business aid program has run dry as expected. The battle wages on how much money to add to help business and American Workers. Ill be speaking with House Minority leader Kevin Mccarthy later this hour to talk about that. Coronavirus taking a toll on chinas economy, contracting 6. 8 overnight. That is for the First Quarter read. Its first ever quarterly contraction. Wuhans death toll meanwhile, its being revised, up 50 , adding fuel to the questions about beijings reporting and the accuracy of it on this virus. Secretary of state mike pompeo will join me at 8 30 a. M. Eastern on the possible origins of the virus as more people focus on the lab in wuhan, something ive been putting a spotlight on now for months. What actions could be taken against china for dangerous lack of transparency. Mornings with maria is live right now. Plans to reopen the u. S. Economy and positive news on gileads coronavirus treatment fueling a global rally this morning. European indices trading up, take a look at the fq100, up better than 200 points right now and cac in paris up 186, dax index in germany higher by better than 440 points. Big rally underway in europe. Asia as well, green across the board despite the fact that we saw news on chinas economy and a major contraction in the First Quarter for china. As you see, the shanghai composite was up along with the others. Oil prices are headed toward a second consecutive weekly of loss this morning after opec forecast a sharp decrease in demand, the price of oil, 18. 61 a barrel. Joining the conversation, Dagen Mcdowell, and Allie Mccartney. We got good news this morning. Dagen we do. I am angry, mad, fired up, because the democrats, nancy pelosi, Chuck Schumer and their ilk did not refill the Paycheck Protection Program, 250 billion, thats all they had to come up with, just the money, putt it in there so people could get grants an loans, didnt happen and people i know are getting ready to lay off people, planning their own demise as businesses and this is a new level of shamefulness and disgracefulness. Ive already been tweeting about it and im not going to curse. Maria you know what . Were going to get really a look behind the curtain with Kevin Mccarthy this morning. He was telling me the other day some of the back and forth fighting that had been going on in terms of what belongs in the bill, what doesnt belong in the bill. Here we are with the tap gone dry for the Paycheck Program and theyre not willing to make the move to put more money to it. Were going to talk about that coming up because this is important for Small Business individuals as well, all that coming up. First, some of the top stories were watching this morning, President Trump unveiled new guidelines toward reopening the economy yesterday, the white house using a three phase approach driven by what President Trump says are medically driven metrics. Watch. Our country has suffered, the world has suffered. Therefore, my administration is issuing new federal guidelines that will allow governors to take a phased and deliberate approach to reopening their individual states. Maria phase one begins by allowing restaurants, sporting venues, gyms and places of worship to reopen with strict social distancing rules but schools and bars will remain closed in phase one. Effective elective surgeries can resume and high risk individuals should still stay home along with the elderly. Phase two meanwhile loosens guidelines a bit with schools and organized activities resuming along with nonessential travel. Bars can start to open then in phase two, but with reduced capacity. Large gatherings must still be avoided. Finally, phase three opens the company up to a wide array of employers and businesses, employers can return to unrestricted staffing and limited distancing will be required in most places. In phase three senior care facilities and hospitals can open their door to visitors. As many as 29 states may be ready to open before may 1. Researchers are racing for a vaccine for the coronavirus but while thats happening there are reports that some patients are responding to a drug to be treated. The university of chicago medicine testing Gilead Sciences antiviral drug remdesivir. It was used as a possible treatment for ebola. It found nearly all patients who were given daily infusions were released from the hospital in less than a week. The stock is surging on this news. Boeing back on the job, limited jetliner production is going to resume. Its set to resume in the seattle area beginning on monday. 27,000 employees will return to work following a threeweek shutdown due to the stay at home orders. Boeing also adding new Safety Measures for its workers including face masks and other personal protective equipment to prevent the spread of the coronavirus. Cantor fitzgerald cutting hundreds of jobs due to the economic damage from covid19. The cost cutting move is a debar churr from wall street firms that have vowed not to lay off employees with more than 20 million americans currently out of work. Two american astronauts returning to earth amid the pandemic. Drew morgan and jessica mere leaving the International Space station after more than 200 days onboard. The pair safely touched down in kazhakstan hours ago, exactly 50 years after the apollo 13 crew splashed down in the pacific following an aborted mission. Futures are soaring in the premarket on promising results for coronavirus treatment from gilead. My next guest is warning we may not see a recovery in the United States equities until 2022. Joining me right now on the phone is the chief equity strategist at citigroup, tobias lefkovitz. Thank you for joining us. Youre expecting a delayed reaction from the stock market. Tell me how you see things. Were suggesting to investors about three andahalf weeks ago that we felt it was going too far dow to the downsi. There is 25 upside potential this year, we got it in three andahalf weeks and were probably ahead of our skis. Our view of 2022 is more about stock buybacks, not necessarily the market itself. We think earnings will be about 125 this year, unfortunately down about 20, 25 from where they were last year and then rebounding to 150 next year but the markets got a 25 move now, pretty much captured some of that opportunity and well get setbacks along the way particularly on the earnings side, on the economic recovery side. Unfortunately, its great news to hear this on new drug treatments, but getting 21 Million People back to work is going to be a little bit of a harder chore. Maria i mean, so how do you want to allocate capital then, knowing that the president is trying to come up with these guidelines to reopen the governors, were waiting to see if theyre going to execute this in three phase as the market looks forward to when things can get back to normal, how do you want to be invested. You want to take advantage of some of the hammering taking place in parts of the market, for instance, the banks which are better captainize captainiz capitalized than they were going into 2008 and 2009s pullback. We like healthcare stocks. We think semiconductors and is another area of opportunity, more so than chasing the winners that have occurred already, taking advantage of the things that may have lagged rather than just going after kind of chasing the tape. Maria i see. Heres Allie Mccartney from ubs. If you had an incremental dollar, it seems the equity markets are pricing in a different base case than the credit markets. Can you talk about that and how youre thinking about that for client investments . Sure. So, look, i think when we actually surveyed investors about two weeks ago, about 125 institutions, they were very, very much more focused on the equity market, about 80 of them wanted to put more money into equities with the u. S. Market being the favorite market followed by emerging markets in the asia pacific region. I would suggest theres been a fair amount of damage in the credit markets, particularly in the areas that have been more extended in terms of credit. So the more highly Leveraged Companies and there have been concern about this well before the coronavirus pandemic occurred that there were too much of the covenantlight environment that there wasnt a proper rating of some of the debt and the triple bs for example were probably more the junk variety but they werent there yet. Youre seeing that damage occurring pretty rapidly. The fed has done a lot to try to reopen markets, particularly Investment Grade but the high yield market is pretty distended. Youre seeing distressed debt players raising capital, seeing opportunities and trying to jump in there. For people who know what theyre doing thats probably a good idea. For the average individual investor, you know, its a little bit more weary trading areas because the complexities of the contracts themselves on these contracts and on the debt requires that kind of depth of knowledge, its not something that people should go into lightly. Maria so we had a massive blow to beijings economy, the chinese First Quarter gdp contraction of 6. 8 , tobias, is the countrys First Quarterly contraction on record if you believe them as the country is battling this coronavirus outbreak. What about the u. S. . Are you expecting a recession over the near term, tobias . Certainly in the Second Quarter were going to have just a pretty ugly environment. Whats really fascinating, i dont know how to describe it, its obviously for tragic reasons, whats really fascinating about the economy right now is typically when we get recessions we see the manufacturing economy go through this very significant downturn. Whats very different is usually our strength has been our Service Economy, 70, 75 of gdp. It buffers the kind of downturns. So for instance, even if a recession, someone may not get a plane and fly to disney world, down to orlando, but they might drive to the jersey shore and stay at an inexpensive hotel and have a little bit of vacation, may get a cheaper cup of coffee at a different store but they dont spend as much but at least there is spending. In a world of shelter in place, work from home, social distancing, we have taken that strength, that Service Economy thats become our akil achilles, at some point this will get better and well go out of our homes again, but well do with some degree of trepidation, people will be concerned about potentially getting the virus and bringing it home. Maria do you think some sectors will be poised to reopen sooner than others, thats an investable opportunity. I think you will see the Restaurant Industry open up, the one ill be watching most carefully to see how comfortable people will going out there and being close to others, if you want to think of it that way. Maria yeah, sure. Tobias, great to have you this morning, we will see you soon. A lot to talk about this morning. Coming up this hour, former Shell Oil President is here talking about the falling price of oil and impact on the chinese economy and the world. House minority leader Kevin Mccarthy is here on the Small Business program, glen hubbard joins us to talk about the reopening of the economy, all that coming up, right here. Stay with us. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Once weekly trulicity is for type 2 diabetes. Its not insulin. It starts acting from the first dose. And it lowers risk of heart attack, stroke, or death in people with known Heart Disease or multiple risk factors. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. Serious side effects may include pancreatitis. Taking trulicity with sulfonylurea or insulin raises low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Maria welcome back. Oil prices under fresh your, falling to some of the lowest level in 20 years, despite efforts to cut supply as Global Demand dwindles due to coronavirus. Opec is saying demand will fall by 20 this month and 6. 9 for the full year. Joining us right now is former Shell Oil President , john hofmeister. Great to have you this morning. Thank you for giving us your insights. Have you ever seen anything like this period before where youve seen such a shutdown in demand at a time when you have Global Players refusing to cut production, although were going to talk about the cut agreement that just took place this week. This demand is truly unprecedented in how its just collapsed. It evidencone kaye you day you 0 airplanes in the air, commuter traffic has disappeared. Theres a huge demand destruction taking place. The problem with cutting production to match the demand destruction is you dont just turn off a well like a light switch. You really have to engineer it down and so that you can engineer it back up when production returns or when demand returns. So its a long process unless you want to do damage to your reservoir and few Companies Want to do that. Maria yeah, i understand. But i mean, you know, yesterday or this week, rather, i had an interview with the oil minister of saudi arabia and he said on this program theyre going of to cut by 20 Million Barrels a day. Is the market not buying it . They dont think that these producers will keep to their promises or is it just that the market is looking at the demand shutdown as the dominant story . I think the demand shutdown is the dominant story. I think that we will achieve roughly a 20 millionbarrel a day production takedown but its going to take some time to get there and i think that some opec members will cheat. They always do. You cant believe the credibility of opec. It has never been there and its not going to come back any time soon. So there will be overproduction because people still want to get whatever revenue they can. Whats interesting, in the u. S. Right now the posted price of 18 and change, theres a lot of oil being sold right now, maria, for single digit numbers. Just to get it off the books of the company thats producing it so that to get whatever revenue they can get and now were getting into a storage problem. Where do you put all this excess oil . Its not like theres an infinite amount of storage. Were running out, probably by midmay theres not going to be any storage left. Maria which is why the department of energy apparently is proposing that they will pay Oil Producers to sit on as much as 365 Million Barrels of oil reserves. The plan would require additional appropriations for congress to be put into place but this is one of the reasons because they recognize that theres nowhere else to store it right now. Do you think its possible to enact such a plan . I think its a very pragmatic suggestion and it really makes a lot of common sense. But now youre trying to put common sense into a political arena where that doesnt really count. Particularly the dislike of Many Democrats towards the oil industry. When they chose not to buy oil to stoke up the Strategic Petroleum reserve it was just a symbol of their viscer al dislike of the industry. China and india are filling up Strategic Reserves at very low prices. But the americans, no, were not doing that because of the political games being played in washington. Maria unbelievable, john. You said it, spoton. So much politics at such an incredible moment, serious moment in time for the American People. Well keep talking about. John, good to see you this morning, thank you, sir. John hofmeister joining us, former ceo at shell. Coming up, futures pointing to a triple digit rally at the start of trading on hopes for a treatment for the coronavirus. Well be back in two minutes time. Youve got it all. All 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. Some Companies Still have hr stuck between employeesentering data. A. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. These expect and way more. Internthats xfinity xfi. U get powerful wifi coverage that leaves no room behind with xfi pods. And now xfi advanced security is free with the xfi gateway, giving you an added layer of network protection, so every device thats connected is protected. Thats a 72 a year value. No one else offers this. Faster speed, coverage, and free advanced security at an unbeatable value with xfinity xfi. Can your internet do that . Maria welcome back. Optimism from the flail world this morning, data reportedly showing that Gilead Sciences is having success with the antiviral drug in treating coronavirus. Patients are showing rapid recovery in fever and respiratory symptoms, according to a report from stat news, sending futures surging ahead of the open this morning. This what is we want to see the pharmaceutical sector working day and night to come up with not just a vaccine in about a year, but treatments. This looks promising. Dagen it does. So the university of chicago, this is as you pointed out on stat news, the university of chicago recruited 125 people with covid19 into two phase three Clinical Trials. Of those people, 113 had severe disease. And this is according to a video that was obtained by stat news of one of the doctors, an Infectious Disease specialist at the university of chicago discussing this with colleagues. It was recorded, theres a video copy that stat news got. There are other Clinical Trials that are ongoing and were waiting for gilead to release the actual data from them, maybe sometime in april. But this is the best news, this is according to the doctor who was videotaped, the best news is that most of our patients have already been discharged. Most of the patients have already been discharged. This is the most critical thing to come up with therapies that can treat this virus and critical thing to getting people back to work, to getting this economy restarted. That is ultimately what is going to save jobs, save businesses, and then you also have a lot of Research Going on with the on the cytokine storm which is a haywire immune response that many of these covid19 patients have had. Theres one drug thats getting a lot of attention, it is roches Rheumatoid Arthritis drug, aktemera, its approved to treat these kind of immune system storms or responses in people who have undergone tcell therapy for cancer. These are incredible developments that are going on and if something really works, we could have a recovery in this country not just from the virus but from the business shutdown much quicker. Maria i love it. And thats what markets are reacting to today, allie. Absolutely. Look, i think its really important to understand that irrespective of this particular drug and gilead, what has been evidenced in the ingentleme pube partnerships that his exemplifies is huge for medical technology, biotech gene therapy Going Forward because all of this money and all of this time and all of this innovation, even if it doesnt ultimately accrue to this specific infection, it will accrue for many things, cancer drugs, you name it in the future and so i think as much as this period is devastating in many industries, this is going to be a huge boost and renaissance for the medical technology and biotech space, especially with the results that we have from bipartisan cooperation in dc and who we have running in our next election. So as you look to put new money to work, this is one of the places that we feel most strongly that theres longterm opportunity for investors. Maria yeah. I think youre spoton, allie. Well keep talking about that and ill bring it up next with congressman Kevin Mccarthy, the gop leader will join me next to talk about Small Business loans as well as the opted mitch about getting the country optimism about getting the country open again and the drugs were talking about. Kevin mccarthy joining me on the other side of this break. That i. I was overwhelmed. And i didnt know where to begin. I came across sofi and it was the best decision of my life. 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. Has stood strong through every dark hour and bright dawn our country has endured. It has seen the break in the clouds before anyone else. For the past 168 years, weve also stood by you, helping you weather storms like this one, to protect your loved ones. And well do it for 168 more. Maria welcome back. Lawmakers are battling over Small Business aid amid the coronavirus. The Small Business loan program is running out of money with House Democrats and republicans disagreeing on how to redirect any new money. Democrats want to make changes to the program while also giving money to hospitals and state and local governments. Republicans want to directly replenish the fund without making changes. Joining me right now is House Minority leader Kevin Mccarthy. Always a pleasure to see you. Thanks very much for being here. Thank you, maria. Thank you for having me back. Maria i want you to clarify each side. I know that the republicans already have directed money toward hospitals and there is a fund in there specifically for hospital staff. Can you take us behind the curtain and tell us whats going on in terms of what the big debate is in terms of new money for stimulus. The only debate here is that democrats are delaying this. Lets walk through this. We just passed cares act. There is 130 billion for hospitals, 30 billion is already out. Theres 150 billion sitting in there for states across the United States. In the Small Business, were trying to keep people hired. We had a program that allowed a Small Business to apply for a loan. In this loan, you work through local banks, through credit unions, fin tech and others and if you took this money and you used 75 of it to hire and pay your employees for the next two months, pay your rent and pay utilities, that became a grant. That became so successful that we loaned the equivalent of 14 years in 14 days. 349 billion. We knew more than a week ago that we would run out of money so the administration requested more. It didnt need any more change to it, just replenish something that is successful. So we went to the floor to add it, one page. The democrats showed up where it could have been passed just by unanimous consent, to object. They wanted to object to even make it more difficult for a Small Business to gather this loan. Right now its just a twopage application. Now they want the data and the information of every single person, going through from who you employ, all the way. We just simply take the two andahalf percent of your expenses. Why are they saying no to Small Business . Why are they saying no to Hardworking Taxpayers . They say theyre the party of fairness but this is just not fair. This is only designed to keep people hired. There are 22 million reasons why the democrats should say yes. But they sent somebody here just to object. This is exactly what Speaker Pelosi did in the passing of the cares act, to hold it up, to put in her policies, to bring up election law, bring up a Green New Deal and others. That has nothing to do with this. This was a bipartisan bill. Add money to where it is successful or needs it. If more money is needed in a hospital we will add it but theres 70 billion sitting there, 150 billion sitting there for the states. Theyre not running out of money. This program that only hires people maria why would they stop it . I dont understand this. Why would they stop something that is desperately needed . We know that the economy is on the praecipes of a recession, we know that the Unemployment Benefits continue to rise, 22 Million People filed for Unemployment Benefits in the last four weeks. Whats the reason . Why are they stopping any new money going into save the problem, fix the problem, rather . They do not have an answer. For the same reason, why did Speaker Pelosi and schumer stop the cares act and hold it up for a week and only thing they added to it was more money for the kennedy center. Nothing to do with the coronavirus. This is a one page bill. This doesnt change any policy. It has a program that is working better than weve watched any time before. Theres more than 5,000 banks now approved. Maria do you think there are some things that maybe could be tweaked, like putting the money aside, i agree with you in terms of the money, the Small Business needs the money yesterday. Youre absolutely right. And im hearing that as well. But what about the tweaks that people are talking about, even senator Lindsey Graham on the program this week saying, look, the 75 25 makeup needs a little more flexibility. In order to give a loan to a restaurant, for example, and that restaurants going to give 75 of that money out to its employees so theyre not out of a job and theyre still being paid, thats not doing anything for the restaurant. They need more flexibility in terms of paying more than 25 of the loan for things like rent. Were in a shutdown. Theyre not getting any revenue coming in. So are you open to looking at that . I know there was a call with gene scalia, the labor secretary this week to talk about maybe loosening up the rules or giving it more wiggle room if, will, the 75 25. Maria, right now im in washington and so is leader mcconnell. Pelosi and the others are not. If you want to take enough time to keep working and changing that, thats going to take time. You can deal with that when people are coming back. If you think it needs wiggle room, its the only program that has run out of money. It must be working well. Its better that someone keeps a job than goes to the unemployment line. Its better that the Small Business can pay their rent so the landlord and banks do not have a financial crisis. Pay the utilities. It keeps them afloat, the liquidity bridge that keeps you for the next few months. We have the president planning to be able to open up this country in a safe manner and part of that is making sure the restaurants can open up in a safe manner as well and get income coming in. But right now, the democrats are delaying something that proven that has worked. Maria i dont know how this is going to play out if theyre going to keep delaying something that is desperately needed. The white house is outlining its three phase plan to get america working again, let me get your take on this, this gradual moving with phase one allowing gyms and large venue toss bes te open, phase three would have no workplace restrictions. You spoke to the president yesterday and every day and are on the task force for reopening the economy. Tell us whats most important in terms of reopening the economy. How do you get people to trust that they actually can go to that restaurant and go take advantage of services out there once they do reopen . Well, i think its a thoughtful approach of how the president s going about it. One thing you have to continue to keep the social distancing. But look at the successes that were having, from the very beginning. Remember, why are we here . Because china lied to the entire world. You were one of the first that brought up the lab in wuhan. Youre one of the first that had been talking about china and then their control of what they have onto our markets. You look at from the medical supply and others. Pretty much have a medical monopoly, especially from the ingredients to our drugs and others. That is something that has to change Going Forward. But as we open this up, we should open it up in phases. The rest of america is not the same in each part so we look at the areas that can open, we keep the social distancing. We make sure if somebody is sick that we monitor and put them and keep them quarantined in the process. I think were much smarter today than we were before this virus came out. We look at the ability from abbott to be able to test and get an answer in 10 minutes. We look at whats moving forward from the fda, a saliva test. You talked about gilead. Theres others, regeneron and others. We will defeat this virus even though we didnt invite it here and well defeat is because the ingenuity of america is able to take this on together. Thats why its so depressing that democrats would delay something that is so successful and needed for the hard working taxpayer and the Small Business which you know better than anybody else employs the majority of people in america. Maria and they were against this president when he stopped travel from china. Obviously in retrospect that was the right move and saved lives and yet it seemed like they were more on chinas side than the United States. Weve got so much suspicion swirling around. I want to know how sinister this is. Beijings reporting of the outbreak was clearly lying. City officials in wuhan where the virus originated revising now its official death toll, now its suddenly overnight 50 higher than previously reported. The Officials Say earlier deaths were missed because of flooded medical facilities. I think questioning everything thats come out of china every day, but let me ask you about if theres something more sinister here. Earlier in the week i reported on monday that china had instituted new rules and regulations on the ground that were effectively delaying the export of the products that we need so much. So first we know that they knew about the virus in december. We know that that wuhan lab was just a few miles, which is what i pointed out over and over again. They hid it. They lied about it, downplayed it and at the same time, congressman, they cornered the market on this protective equipment. , is this even more sinister than i thought . Yes, it is. Chinas deception directly led to americans deaths. Not just america, but around the world. They knew what happened here. They knew where it came from. They would have not opened up the wet markets again if they thought it came from the wet markets. More importantly, they lied to the public, but they lied to their own people. I saw a report that it even talks about maybe 43,000 people in wuhan died. What they did, they held up, just as you reported, they purchased all the medical equipment from pp e where they make 50 of it and why they utilize this, because they know its a challenge. They are also utilizing this today to make sure they get a supply chain in the rest of the world from others. I have reports from ceos that if other countries when they requested to purchase ppe, they request that huawei has to be allowed into their country for them to get this medical equipment for a virus that they have infected the rest of the world in and cornered the market when it came to personal protection equipment. That is what were dealing with. You know, President Trump when he was candidate trump warned us about china. Hes gone after china. If theres one thing that should unite america here together is that we never let ourselves be in this position again, from Critical Minerals and others, ingredients that go into our medicines. The idea that china could put us in this program, thigh the rest of the world and corner the market and utilize that for the supply of what they have in medical equipment to get a better supply chain when it comes to technology to spy on other countries, that is something that we should not stand for, nor allow and change the direction. Maria unbelievable. So do you want a change in supply chains in a stimulus four package . Do you want this to be part of anything Going Forward, that Companies Take their supply chains out of china so were not so reliant on them for these important products . Real quick. Its not just america, it should be rest of our ally as well. We should have a coordinated effort that takes all the supply chain out of china, brings it back to america, exactly what President Trump has been trying to do democrats try to delay every part about it and that should we not stand for and thats another reason why we need to have the majority. Maria congressman, good to see you this morning. Thanks so much. Thank you, maria. Maria we will keep watching, House Minority leader Kevin Mccarthy. Futures pointing to a triple digit gain at start of trading on hopes for the cream of the coronavirus treatment of the coronavirus. Back in a moment. Our Retirement Plan with voya gives us confidence. Yeah, they help us with achievable steps along the way. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Its a voice on the other end of the phone. A note to say youre on our mind. A willingness to come to you. The world and how we interact with each other is changing. But that will never change who we are at lexus. Now, more than ever, you and your needs come first. Find out what Service Options are available in your area at lexus. Com people first maria welcome back. The white house unveiling new guidelines toward reopening the u. S. Economy using a three phase approach. Moved by what President Trump says are medically driven metrics. The president also said that as many as 29 states may be ready to open before may 1st. Joining us right now is former u. S. Council of economic add advisors chairman, glen hubbard. Thanks very much for being here. Your thoughts on the plan the president released yesterday . Well, i think the president realizes the economic realities were facing. Obviously we have a pandemic but a gradual reopening as the Health Conditions permit is obviously in the economys interest. Maria so do you think that its doable . Markets are rallying today on the optimism around gilead and whether or not its remdesivir treatment is actually working. Its very effective apparently from what we see so thats one positive here but do you think that this plan will work, that you go with it, you start slow but you start opening things beginning in may, next month . Well, i think it depends on the region of the country. As the president noted, some regions have been less affected than others and obviously Health Conditions have to come first. At the same time, i think the president s right that we need to continue to strengthen Economic Policy to help people who have been unemployed, to help Small Businesses, the treasury and the fed have to stay focused on that while were reopening. Maria yeah. What about shortages in the Coronavirus Relief when it comes to the cares act . Glen, what do you think about the Paycheck Protection Program . Youre talking about an enormous amount of stimulus, equating to 35 of the gdp of this country, glen. Will it work . Well, i think it has a good chance of working. And i think the Paycheck Protection Program, while its not exactly what one might have designed, is a very good start. And it just needs more money. I agree with your previous interview that the first step is just continuing to fund it. It has been a success. It needs more money. It needs more flexibility. The fed also has a main Street Lending facility which could help. Weve got to put money in it. Maria i mean, and yet politics gets involved again. I mean, nancy pelosi hates President Trump so much, apparently, they just cant agree on anything. She wants to do another investigation of his handling of the coronavirus. Well, maybe. But i can say this. The cares act passed in record time. If you think about the speed with which policy makers worked and congress in the white house and in the Federal Reserve, it was actually pretty fast. This is no time for politics. This is time to get Small Businesses and workers back to work. Maria thats right. Glen, its great to have you on the program this morning. Thanks so much. My pleasure. Maria glen hubbard joining thrus. Quick break and when we come back keeping america together, we introduce you to one Company Offering scholarships to get furloughed workers back on their feet. Stay with us. This is an athlete, twenty reps deep, sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. Shethe xfinity my accountd, 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. We are looking at a pretty good rally underway on wall street as optimism grows about Gilead Sciences treatment for covid19, remdesivir. Im with Dagen Mcdowell as well as siraj this morning and Allie Mccartney. Your thoughts on what were seeing so far. Have you to give shoutout toss the pharmaceutical sector working day and night not just on a vaccine, but treatment. Dagen right, treatments that can give the American People confidence to resume their lives in some measured but significant way. And thats what youre seeing with gileads remdesivir, also these drugs that are already on the market to treat the cytokine storms or haywire immune responses that you see in some of the most severe covid19 patients. What got a lot of attention yesterday was facebook and Mark Zuckerbergs announcement that its canceling gatherings with 50 people or more through june 2021. And thats something that ive actually heard from a lot of executives and people in the Tech Industry is that you really have to wait until theres a vaccine to resume, say, going to concerts and large gatherings like that. Maria yeah. Yeah. 2021 sounds far away but thats where we are right now in terms of when to consider regular normal, the way we were. We here at fox business have been highlighting examples of america together, code academy are helping those no longer working because of covid19 to get back on their feet. Theyre giving away free scholarships aimed at teaching vital skills. Joining me now is zach sims. The last time we spoke were talking about the importance of understanding how to code and code academy was doing just that, ensuring that people understood what it will take to thrive in the new economy. Now youre giving more, youre giving more than 100,000 scholarships to Students Affected by coronavirus. Tell me how youre eligible for that and how this works. Yeah. Thanks, ma h maria for having m. In todays economy weve seen 22 Million People file for unemployment recently. I think Technology Skills are a way for people to get back to work and so we want to make sure that anyone who has been furloughed or laid off as a result of covid19 has an opportunity to learn skills. And so we are giving people free scholarships. Maria what skills do they need specifically . We think people can learn skills. Maria people say i worked in oil, i worked in minerals, what do i know about coding. What skills will people be learning by using code academy. Theyll learn how to build websites, how to build mobile applications, do data ani analy. We think Technology Jobs are the next wave of important jobs and important skills to learn. And theres really no prerequisite. People can get started no matter where they came from, picking up new skills right now. Maria and coding is important for a whole host of industries. Technology has now become part of every industry. So how robust is the job market for coding students . So i think the thing is, its not just jobs in Software Development that people are looking to get these days. It is jobs in a whole host of fields that require a little bit of Software Development. And so people can get better jobs in finance, better jobs in marketing, just by knowing a little bit of Technology Skills. I think the job market will continue to be robust for skills that require technology especially given we may be working from home for a while, this will allow people to work remotely as much as they can. Maria and thats the beauty of it. You can work from home. Zach, thank you so much. I want to thank siraj for joining us this morning. Please come back soon. Thank you for being here. Next up, secretary of state mike pompeo is here live. Back in a moment. Welcome back. Good friday morning. Thanks for joining us. Im maria bartiromo, friday, april 17 top stories 8 00 a. M. On the east coast optimism in fight against coronavirus Gilead Sciences drug remdesivir reportedly showing effectiveness treating covid19 stock soaring on news a rally underway the news with details of reopening the economy, sparking a Global Market rally this morning take a look at futures a gain of 750 points this morning on the day we are closing out the week, in a bullish away nasdaq higher in triple digits up 178 points nasdaq s p higher by 38 points on top of yesterdays gains as well markets higher across the board, fractional moves but 4 00 on wall street dow up 33, nasdaq up 139 s p higher by 61 getting america working again President Trump announcing plans to reopen in the three phases the Small Business program has run dry on capitol hill battle wages on over how much money to add to help businesses and American Workers, congressman Kevin Mccarthy going through that with us a moment ago coronavirus a toll on chinas economy, contracting 6. First Quarter first ever quarterly contraction, wuhan waived death toll up 50 adding questions about beijings report on the virus we did not believe from getgo, secretary of state mike pompeo live 8 30 a. M. Eastern dont miss on possible origins of the virus people focus on lab in wuhan i have been putting a spotlight on for months what actions against china for dangerous lack of transparency mornings with maria is live right now. Plans 20 reopen u. S. Economy positive news on gilead coronavirus treatment fueling a rally european indices higher across the board with wall street futures ft 100 up 196 points cac quarante in pairs up 177, dax in germany higher by 380 points right now in asia overnight, green across the board despite decline in china gdp as you can see, arrows up in asia oil the other way headed toward a second consecutive weekly loss opec forecast a sharp decrease with shutdown across the world top stories this morning right now, President Trump unveiling new guidelines, toward reopening the economy, the white house using a three phased approach driven by when President Trump says medically driven metrics. The country has suffered the world has suffered therefore my administration is issuing new federal guidelines that will allow governors to take a phased deliberate approach, to reopening, their individual states. Phase one allows restaurants sporting venues beginning places of worship to reopen with strike social distancing rules in scompliels bars remain closed in phase one elective surgeries can resume high risk individuals should stay home with elderly. Faedz two loosens guidelines with schools organized activities resuming with nonessential travel to resume, bars can open again, but with reduced capacity, large gatheringings avoided. Awide array of businesses businesses employees are can return to unrestricted staffing little bit physical distancing required most places, phase three senior care facilities hospitals can open doors to visitors the president says as many as 29 states may be ready to open before may 1, another part of the president s plan to reopen the country is allowing sports to play with exceptions. Many of them are going to be starting, so made for television, good ole days for television will go that way fans will start come in, maybe they will be separated, by two seats. And then ultimately we want to have packed arenas when virus is gone going to have packed arenas back to enjoying sports the way they are supposed to be. Maria President Trump said the guidelines was based on discussions with top sports executives on White House Task force no start dates determined yet will turn to governors to see how they use guidelines from president he researchers race for voon for coronavirus some patients are responding very well to experimental drug University Chicago medicine testing Gilead Science antiviral drug remdesivir, was used as possible treatment for ebola found nearly all patients given daily infusions released from hospital less than a week, the stock is surging this morning ahead of the open on this report, on gilead. Moderna close to 480 Million Dollars from u. S. Government, to sublet its development of covered 19 a three fades study last month, Company Hiring additional 150 workers in coming months moderna higher up 8 dollars a share right now, starbucks outlining new plan, to open a significant number of Stores Next Month it says, the giant started testing options in over 300 locations across the country including Contact Service ent tree away pickup curb side delivery at Home Delivery employees will get catastrophe pay through end of may starbucks shares higher 4 1 2 , fewer faces at Facebook Events zuckerberg canceling gatherings of 50 or more through june of 20201 adding scheduled events could be held in vandalism platforms facebook shares on rise this morning, reopening the question white house outlined three phased plan, to get americans working again, phase one allows gymnasium large venues to reopen under strike rules phase two sees schools reopening nonessential travel resuming phase three no restrictions president speaking yesterday at the white house watch. My administration, is issuing new federal guidelines that will allow governors to take a phased deliberate approach, to reopening, their individual states our approach outlines three phases restoring Economic Life we are not opening all at once. But one careful step at a time. And some states will be able to open up sooner than others. Were starting a life again, we are starting rejuvenate nation of our economy in a safe structured and very responsible fashion. Maria joining us this morning Dagen Mcdowell, alli mccartney ubs new jersey congressman jeff van drew, great to have you this morning on panel, thank you for being here, let me open it up and give you an opportunity, to tell us your ideas for reopening the economy, in terms of the president s three phases how do you see that working in new jersey . Well, i think it is a great idea going to be a little different in new jersey than say in nebraska, depends on situation that you have in each state, and they are all different. I think the president outlined that well maria when he said that you know, every state is going to be different he is going to work with governors going to leave it to governors i think some to that i think a good idea quickly the other thing weve got to do as we open up certainly we are going to celebrate we have to look into a lot of what happened here, this is virus really come from meat market or did it come from a lab in if it came from a lab, why why did it escape if it escaped why werent we why didnt World Health Organization give with up information about potential dangers of it sand sent Incorrect Information that it wasnt dangerous for transmissible from persontoperson, what we learned about this the good out of every bad thing is supply chain. We can no longer in United States of america, depend upon other countries for our supplies for our manufacturing, for our drugs for our medications. We really got to work on this. Maria you are hitting everything spot on certainly things i have been zeroing in on on that lab made point to make sure our audience understood end of january early february came on this program i said i want to make sure he everyone understands a couple miles away from socalled open market that we keep talking about, a couple miles away is the only level four super lab in all of china, is situated in wuhan, and by the way, what do they do at that lap . They test and study coronavirus it was so obvious to me early on there could have been something sinister here if it did get out by accident while studying it, obviously, china decided they were going to cover up, more interested in saving face than about saving lives congressman. You are right, whatever the issue is, whatever level want to say sinister whatever there is no question, that we did not receive the information that, we should have from the World Health Organization, from china, itself, the cd. C. Desperately wanted to go in there they did not want to let them two people identified this officially one dead the other one missing weve got to look into this, we have a responsibility to our people. Maria exactly congressman i know youve been talking about youve been talking to President Trump a lot, he came and he rallied with you, before this whole pandemic started and, of course, to give background, here, in january, during President Trumps impeachment trial you announced that you would be switching parties you went from democrat to a republican. Youve campaigned with the president announced your campaign for a second term, tell me about that governor of new jersey started not only attacking President Trump but also attacked you how is your career since changing parties . Do you think new jersey is becoming a swing state in november . Because i certainly have had your share of of rallies in your you know in your favor in new jersey even though new jersey, is largely democrat state; right . It is. It is a very, very blue state we all have been so focused, on the virus Everything Else now we havent which we should not have completely focused on politics of it that is going to come around as things get better here i think we are going to find more people in new jersey, are going to be looking at the president , what he has had to say, you know i remember when president was criticized because he put a travel ban with china. And they said he was terrible man doing that thank god he did that thank god he did that thanks would have been so much worse, you know i am proud to be associated with him i think is doing right thing i think we are going to bring this economy back i think we are going to take care of some issues, that we should have taken care of a long time ago. Like our supply, you know like the supply chain, that so about unbelievably important quickly a nation to be strong has to be strong borders Strong Military Strong Energy a strong supply chain has to have certain things, in order to be independent and strong, that is what this is about that is what this election is about. We had Kevin Mccarthy on, your colleague i know you spent a lot of time with gop leader as well. Kevin, and you talked about the potential of putting something in another stimulus bill that includes just that, will you be pushing for that to be in next stimulus bill the fourth relief package there is something about supply chain coming back to america . I absolutely would love it if for some reason wasnt there we have to get it somewhere else weve got to get that done, america first, american products, sold to americans sold to others, i absolutely believe in that, that is very, very important. As well as some other areas i think, weve got to have inhe is very gaitry panel to find out what happened what changed everyones life in United States of america there is a responsibility you wonder what our you wonder what our friends across the world are thinking as well, coming up i will we speaking with secretary of state pompeo to ask him about that see if in fact he is seeing some change in attitude on the part of europe, has huawei infrastructure all over europe we are wondering what is going to happen with the rest of the world now that it has been out outed, mike pompeo coming up joining me as well dont miss are super bowl model Kathy Ireland talking about state of our business dont miss a moment of it we are going to slip in a break and come right back. Modern day pioneers need modern day horses. Fast, durable, gaspowered, steelframed horses, built to haul a half ton and tow a full ton. With bestinclass acceleration and handling with cargo. The kubota sidekick. Saddle up. Theres work to do. Get the sidekick now for as low as 10,649, plus zero down and 3. 99 percent apr for 60 months. Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Maria welcome back, backing biden former president barack obama delivering longawaited 2020 endorsement this week, throwing support behind former Vice President joe biden, any guest says endorsement shoes o bammo caving into far left democrats joining me former Senior Adviser to president george w. Bush karl rove you have a new oped in journal titled have return of barack obama reads in partly the video marked end of primaries the moment of coronation. Tell me more. In his remarks president obama effectively described joe bidens life, but thpivoted to politics spent time commending Bernie Sanders for jdz agenda, basically apologizing for his own word president obama said if i was running today wouldnt up run on agenda i ran in 2008 it is basically inadequate we need to do something about about income inequality free clinical we need to do what bernie says a right for everyone, expand medicare so fourth thought it was very proclaim joe biden was the most liberal candidate the Democratic Party had nominated went out of way to placate Bernie Sanders says he won battle over platform even though he loss at it battle over nomination i am not certain in general election swing voters are that tracted. You think he was trying to get swing voters Bernie Sanders supporters to joe biden i dont know, i saw video did not think he looked happy in that video by the way. Look, the president manners i said in column, we have clip staccato reading off teleprompter you can tell not warm personal except few brief moments, but look, the president was very clear that he is not worried about swing voters those people who say, i am sort of in the middle voted for democrats 2018 mid temperatures may be voted for trump 2016 not worried about those people he is worried about bernies left wing supporters, that is why he said we have to, you know, we good for you, bernie supporters we got most liberal candidate every nominated for president not certain that is going to sell with people up for grabs in this election. Next big challenge choosing a Vice President politicalo finds 66 voters want joe biden with a running mate with experience 29 say important to choose a woman 22 say should choose pattern of color, biden vowed to choose a woman to join him on ticket. Your thoughts. He is he has to do that he cant back off that. The question here is is he is he going to left with elizabeth warren, or go far left with Stacey Abrams is he going to go you know or going to a more traditional democrat like amy klobuchar, in those choices a lot of challenges having been through this process in 2000 one of the things how many people have been deeply vetted, governor when it o more michigan Stacey Abrams georgia to the particularly well vetted Kamala Harris has a thin record therein the difficulty for biden particularly since people look at him think he is only going to serve one term. Great to get your insights as always thanks for stopping by this morning. Thank you. Karl rove joining us. Well be right back. Stay with us. I was overwhelmed. And i didnt know where to begin. I came across sofi and it was the best decision of my life. 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. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Maria welcome back President Trump in validation guidelines toward reopening the u. S. Economy the president says as many as 29 states may be ready to open before may 1 a glimmer of hope for americans ready to get back to business following guidelines talk about that with panel Ali Mccartney we havent heard from you in a bit tell me about markets as market will see viable plan a rally underway optimism over remdesivir drug to treat coronavirus as well as the phase three to get things open again. Yeah, look, we talked about this earlier, in the show we sort of got past what i phase one that initial reaction to the virus included an economic shutdown, we were then waiting for the threelegged stool waiting for fiscal support we have gotten ho hopefully will get more of in ppp funds Federal Reserve support we have gotten to extent i dont think anybody can believe third as you presentation management of the curve, the longest most examine complicated would i agree with everybody out there says it will sort of be like this, a series of ws, so this is the very beginning, this what is the path looks like, to normalizing demand, travel supply chain, and the more confidence we have in our ability to get there economic the thought is higher the market will be i expect to continue to see volatility around that. For quite a longtime to come. Maria hmm. It is a good point i also want to know more about testing whether or not people have 20 get tested before they enter buildings reenter economy on ross perot junior what are you recommending for companies in terms of reentering economy things are you pleased with plan you are hearing so far. Thank you we are certainly pleased, youve got to realize a lot of business are central businesses already we havent stopped working weve got teams coasttocoast building 19 million square feet for nonessential staff at home i think very important to let each governor determine what they need to do to open their state up encouraging our governor in texas many kroinz almost virus free let those counties slowly go back to work in a safe manner we need to get economy turned on. Maria ross you are chairman one of the to have the zroil commercial reevery Developers Tell me about real estate how people are looking at building differently what changes might we see given the fact much more aware of social distancing not touching doorknobs touching surfaces, is this playing into new construction and new plans for the Real Estate Market . Absolutely. First, first of are all going to see acceleration of more and more ecommerce we are seeing ecommerce clients continue to build we are still signing deals every week with clients going to move quicker the office space world people wanted density how many could you put on a floor, you are not going to want disthe answering spacing shared Office Concept very difficult until we get a handle on this vaccine i think high density cities are going to be Difficult People want more distance between neighbors you are going to see people fleeing from density to more Environments Technology being used, in different ways, i mean, you know in terms of not having to touch things when you are walking in buildings anything in that regard in terms of real estate, infrastructure being changed. For sure. Tell me about allocating capital. You are going to change automatic doors open, you will go to a society try to touch as little as you can. After this pandemic. And big technology, think goodness that we had big tech or wouldnt be able to bet through pandemic the way the country has, so just Cloud Computing demand working more and more Computer Data center deals because of what happened with people working from home a lot of trends were coming accelerating, and as develops will take advantage of it get the product built. Let me get Dagen Mcdowell in here quick dagen. Dagen one issue with restaurants reopening not just the social distancing that they have to cope with but many restaurants are packed to the brim because their represents are so high. That is the only way a Restaurant Owner in many parts this have country can make that business function. Does there need a broad repricing of rent for restaurant ordnance across the country in order to really get them back to business . For sure. And that will happen, because if you want restaurants are great amenities for Office Building any development you are doing you want a gre great restaurant real is having a hard, hard shakeout as we come through this go out on the other side. I said the will happen. It will work. We will find a way to make it work. Maria why will it have hard shakeout because of the way stores are structured. First ecommerce a boon toward ecommerce more and more ecommerce we think etch commerce 14 of the Economy Today if it goes 20, to 25 we think we need another billion square feet industrial space around United States. That is one trend were watching, how do you reprogram, the malls all malls . So were now going into cities with old malls putting amazon deliver, are make malls part of ecommerce infrastructure, including at sights starting with a program looking at malls for local i delivery with drones. Amazing, really interesting stuff, ross please come back soon loved having you this morning. Thank you, sir. Maria, thank you, great job appreciate it. Ross perot jr. , next secretary of state mike pompeo will be here right after this break talking about chinas misinformation where we are right now. Back in a moment. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Maria welcome back, china covid19 coverup more questions swirling this morning about beijings supporting reporting of outbreak officials in wuhan virus originated revised death toll now 50 higher than previously records death toll goes up 50 overnight, Officials Say earlier deaths were missed because of flooded medical facilities. Flooded medical facilities joining me right now secretary of state mike pompeo mr. Secretary great to have you this morning thanks very much for calling in. Maria great to be with you hope you are doing well today. Maria and i appreciate that, and to you, you have been so great in terms of educating our audience and the world, about about the bad behavior coming out of china, you and i have spoken about this a number of times over the last couple years but now really zeroing in on origins of this pandemic bad behavior in terms of while Chinese Government the communist party was downplaying this, mr. Secretary, they were cornering the market in terms of protective gear u. S. Would no doubt need a month later, is there something more sinister than just bad behavior and bad actors in Chinese Communist government. I am glad you put it in larger context Trump Administration intentionally focused on problems in front of us keeping america safe you saw yesterday the president getting economy back up people back to work i was talking to friends in kansas this weekend anxious to get out there get back to work you put in larger context this administration has consistently done with respect to Chinese Communist party demand they baef in a way consistent, general second xi told us he wouldnt arm South China Sea he did so they made commitments in hong kong, promises there we demand they live up to promises in this moment authoritarian regime had information date where clear chinese k3450u6789 party and World Health Organization did not put that into the International Space, as required to do. In a timely fashion, and the result of that that is we now have this global pandemic. We are still maria suffering that to date still a asking Chinese Communist party allow experts to get either into that virology side about science epidemiology we need to understand what has taken place to reduce risk to americans days, weeks months ahead get Global Economy back on track. It is very important. Maria i know we have been saying, that perhaps, the the virus got out of virology by accident the fact downplaying lying it raises the question was it really an accident . It was completely appropriate that world ask the right questions, this is the president s frustration with the World Health Organization. That is the institution with the task under written, by American People countries all over the world their task to protect world from precisely what is happening today they need answers, data need to demand that from Chinese Communist party the chooipdz communist party needs to come clean about what took place so world can see what took place when they do that time for accountability attribute what happened who did what can move on from an incident that destroyed so much wealth not only here in the United States but all across the world. And so many lives as well. Mr. Secretary, you talked to me about the huawei situation, over time, and the last time we were in the studio together talking about this you remember europe was pushing back saying look we are going to keep huawei infrastructure in place you said if case u. S. Will not be able to share as much information have you seen a change in sentiment as a result of what has taken place from china, and the clear bad behavior are you seeing change in sentiment from our friends in europe or anywhere else are they maybe rethinking the fact you cant trust chinese and may be you dont want the Huawei Telecom infrastructure in their country since they have open doors with data going back to the communist government . Maria your point is very welltaken you talked about loss of life, what a tragedy has taken population weve all had friends touched by this, has impacted, tragic loss of life in United States around the world that is continuing i raise that in context you have asked we have been out telling world threats from Chinese Communist party owned Communications Infrastructure in your xhun i am, where chinese failed to be transparent will cause many, many countries rethink what they are doing with republican to telecom architecture if huawei sells equipment hardware a different prisism to view that decision on i am hopeful that is the case about security making sure that u. S. Data americans data travels across their network is safe, secure as well. Maria what about businesses . I mean can you have a business relationship with a partner who continually changes the rules i reported monday changed rules in terms of export of the protective gear how do we get Business Leaders to better ins, the National Security risks those businesspeople investors just wanting to in sell products to 1. 4 billion people . What will happen to companies la are aligned with china . Two things, i think this has been a real moment. For Business Leaders all across america to see, the Political Risk second or with operations inside of china you know you have been around a lot of people can deal with commercial risks all kinds of Political Risks enormously difficult to deal we ripped bandaid off Political Risk connected to that second, United States government has responsibility to we need to make sure, the supply chains for the products that matter, for american National Security keeping people safe no longer by any Single Company we have about responsibility to get that right governmental function i hope every Business Leader around the world will take a look what transpired past weeks make good decisions for their company whether they are prepared to deal with Political Risks with continuing to operate from china. What do you think by senator tom cotton texas representative crenshaws idea of putting a bill forward to allow owners in sue china in federal court over damages for death injury economic harm caused by covid19. I am conflicted tom cot on one of my best friends in the whole world with there will be a time to make sure we develop mechanisms to hold those responsible fire loss of American Life loss of Economic Opportunities for our kids and grandkids, if we cant get this back open pretty we will get that right the right time, members of coffining will do what they do we will figure out a way we are very focused on making sure, that we get this economy cranked back up again. Mr. Secretary as you go do you want to say anything about the fact u. S. And canada have sent money to this Wuhan Virology Lab apparently . Why supporting this lab in the first place . As to i dont want to comment on that other than to say this, United States along with, other entities across the world worked wherever high end labs handling complex about scientific matters that would potentially present about risk same way we do work around the world to nuke, we have done same thing high end level four laboratories across the world we used, american nohow often from our institutions, to make sure that those around the world handling this right way the kind of projects we have been engaged in trying to help make sure that the techno how was available in those labs and clearly we need to investigate whether that took place whether they had the capability to handle the kinds of viruses being studying worked on in that laboratory we dont know those answers Chinese Communist party needs to open up let us get those answers. Mr. Secretary i know how busy you are we appreciate you spending time with us this morning, thank you, sir. Maria, thank you have a great day. And to you secretary of state mike pompeo there secretary told us about, this wuhan lab continuing investigation, in terms of the United Statess probably into origins of coronavirus back with Panel Secretary criticized Chinese Communist government World Health Organization for not putting out Accurate Information in timely manner that is the issue back with panel congressman van drew let me ask you about that where did World Health Organization go wrong . How did it happen all of a sudden w. H. O. In pocket of china nerve to send out tweet january 14 saying no humantohuman transmission of covered 19 they knew otherwise, in china. The question is, not where they go wrong but almost have they been right, i mean they have given Incorrect Information they said that you couldnt catch this from person toperson, criticized the person thanks goodness he actually had travel restrictions, because it would have been oh, so much worse a lot of people dont realize or think about it another one of those cases where he was soundly criticized in many parts of the world including United States, you know i just want to we all should sit down, and think about how serious this is. Our economy has been decimated tell the truth we are coming back with greatest nation onr earth we have the best economy on earth, look what happened to it. And look what happened to the lives of human beings, and families. Look what has happened to our whole social structure we are not going to deal with each other socially even the way we shake hands the way we touch, for i dont know how long maybe never it may actually make as you were talking before new industries in certain ways you walk in and out of buildings, but the bottom line is china has a real responsibility here, and we have a real responsibility to be much more careful. I will say it maybe others dont want to say it china wants to be number one they want to be number one weve got to decide china is going to be number one or are we going to be number one i believe that we are im sorry. Talked employ many times, congressman what i have talked about many times on program Civil Military fusion Dagen Mcdowell secretary mentioned how china actions will cause other countries to rethink Telecom Infrastructure because of Companies Like huawei stealing information giving it back to Chinese Government there is something called civil fusion military fusion any technology that comes into china that is innovated first must go to military they are telling you off the bat right in your face, the military is most important, why . Because they want to be number one superpower not just economically, militarily as well, i believe there is a duty to stop this world does not want a communist country as dominant country in the world. I think leaders around the globe some small way will wake up to threat china is not just to business, but their way of life, and their livelihood look at Boris Johnson, Boris Johnson was . Intensive care because of this virus, this virus was in by china japanese Prime Minister abe booked the World Health Organization on coronavirus a little surprised with that people in his government were very upset about chinas response to that. At the end of the day why are Large Companies producing goods u. S. Companies, in china . Because it was sold to them as tax cut oh, you can make goods with low cost labor a hand out to you i think as reckoning here about main street versus wall street about small and mediumsized businesses versus big guys, Small Businesses and mediumsized businesses applications dont give a flying damn about them. The mediumsized businesses disaster restrictions if you want money from fed a medium he sized firm, company not same not the same for wall street security i think we need to wake up to china we need to wake up to how small, medium sized businesses in this country are backbone we should stop to them. Ant be just about money American Business wants to sell to 1. 4 billion people in china i get that it is an opportunity, for more money, more sales but, you know, dont come at me telling me youve got all this morality when it comes to not putting, sin stocks in portfolio et cetera, et cetera, yet you are okay to camp out this china sell to 1. 4 billion people when 24e6 got a Million People in camps right now. Maria i think that were bringing up right points i think that there is a social and Economic Impact Economic Impact felt more long term our government job is to protect each and every one of he citizens to do that physically and to create economic value what i can tell if you you think back a year to the market reaction, and conversations we were having just simply around trade, and all of the vulnerabilities surfaced think about now the implications on supply chain, on corporations i am talking to all a executives with clients they are aware that their future looks more nationalized than in the past there is absolutely to your point there is Economic Impact in terms of sales, revenue multiples on market as a result. Umhmm yep this morning weve got real optimism here as we look toward potential treatment and look ahead toward vaccine for covid19 certainly in backdrop our Retirement Plan with voya gives us confidence. We can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Im good at my condo. Well planned, well invested, well protected. Voya. Be confident to and through retirement. You dont just own horses. You own a pasture. A barn. And hay. Lots of hay. You need a tractor built to get every job done right. The kubota l series tractors. Maria welcome back, a plunging retail sales slumping factor out putt millions unemployed filings dismal data showing Economic Impact of coronavirus having on business and every sector across the country joining me a woman had her hand in many business chairman ceo Kathy Ireland worldwide, Kathy Ireland here great to see you this morning. Thanks so much for being here. Thank you, maria, good morning, maria how are you . How is your family how are your colleagues . Everybody is okay. So thank you very much for asking, we are hunkered down dealing with what everybody else is in terms of audience as well we appreciate our audience being here, with us every day, from home, let me get your ideas right now on where we are, give us the state of business, at Kathy Ireland worldwide. Our business we are deeply impacted about family members, ininfected recovered we are grateful to First Responder heroes greatly deeply forever grateful to each one, and our company, while we dont have a major manufacturing relationship in china, we have much diversity, our company was built with many brickandmortar partners, and we are deeply saddened to see those shuttered we have not endured layoffs everyone working remotely something that i have noticed i think this new way in which we are working tell economics is powerful efficient i think the new normal. Tell me how you day pt to that are you make changes in the company to encourage more ecommerce we were on the air with ross perot, jr. , he said pretty much digit economy accelerating as a result of this you are only going to see more Online Presence everywhere, you are going to turn malls more into into amazon about Distribution Centers et cetera are you making plans in your business to pump up the dilling part yes, we are, absolutely. Were supporting our current plans with online strategies and although health and wellness is a major advocacy for our company, we have pivoted to increasing that sector of major to Major Business in many ways, and maria, something that were seeing is nonprofits are being devastated by covid19 and as International Youth chair of the International Pediatric Cancer Foundation, we have team 43, anyone can join. Every day children are diagnosed with cancer and so we are encouraging everyone to join this effort. Covid19 is having a major impact on this and on nonprofits everywhere, and our company is sharing revenue with many new partnerships, with the National Pediatric Cancer Foundation in florida, its going nationwide in florida, this is the brew that wakes us up every morning and we act as a bridge for transferring medical data to patients and doctors to reduce the medical costs. Grateful to everyone highways supporting team 43 from our partner, vanessa williams, friends brooke shields, Marcus Lemonis and steph andre of sunday dinner. Incredible people and we need everybodys help to come alongside this. Maria i love that. Thanks for telling our audience about that. Team 43. We will keep looking at that. Please thank your husband. Hes on the front lines, emergency doctor, and all of the First Responders, please give him our thanks and a big shoutout to him and all the First Responders out there. Thank you for having my book in your bookcase, by the way. I see that sticking out there. You inspire me. You know what, you inspire me and we are so grateful and as we are pivoting and learning new ways in which to serve people, another company i want to tell your viewers about is we fresh Kathy Ireland, a product being infused into everything from furniture, uniforms, clothing, and it is antimicrobial and powerf powerful. Looking at ways in which we can build jobs. We will get through this together. Tough times, but together we will get through it. I think as American Business people, we need to look at how we can grow jobs, grow the economy and fight through this and we will get through it. Maria absolutely. Kathy, thanks so much. Keep innovating. Great to see you. Thank you. Thank you, maria. Maria final thoughts from this allstar panel. Dagen . I just want to say we think about small and medium sized businesses, maria bartiromo, because we were raised by people who ran those very businesses. Politicians might ignore you, might turn their back on you, but we wont. Not here. Maria yes, absolutely. Real quick . I would say i love i love that kathy brought up nonprofits. They really are being decimated, the smallest of Small Business and as optimistic as everybody is, remember were not there yet and prepare for continued maria good point. Dont be complacent. Congressman, come back soon. Great to see you. Thank you, everybody. Varney company is on right now. Stu, take it away. Stuart good morning. Good friday morning to you, maria. Good morning, everyone. New developments this morning, very positive for your money. A virus treatment from Gilead Sciences looks very promising. And the president has unveiled a threephase program for getting the economy moving again. Okay. Look at this. The market is on a tear this friday morning. This really is turning into a major bounce from the