I will talk about that with rnc chair ronna mcdaniel. All that and more coming up on making money. Charles well you could call todays session a random walk down main street. This as the biggest percentage winners include auto dealers like carmax, casinos like m gm, retailers like roth stores and furniture makers leggett and platt. This as looks like economy will open across the country. Wall street experts say the move is too early and far too optimistic. Lets get what our market pros see what they think. Shah gilani and erin gibbs. Erin, let me start with you. The idea maybe this is too much optimism. Wall street hates it but the more hate it the more the market seems to rally. We are, many of us are cautiously optimistic. But im definitely concerned at how stretched some of the valuations are looking forward though. It is very hard when you talk about value because you really have very little visibility on what the actual earnings will be. But certainly there have been a lot of predictions well see more w type of recovery. Well go up and back down. Finally, do the longer term recovery. So, were a little cautious about any sort of second wave or negative in the market. However, i dont see this being where were really going to have a massive downturn or further declines, perhaps, just retesting the lows. A good point to get in. Charles shah, you know, heres the thing, initially you were somewhat cautious. Last time we talked last week you felt a little bit more optimistic. Could there be a difference though, a distinction between the stock market, you could argue made a vshaped recovery and economy which could be a w, a u, who knows, maybe an l, we hope not, could there be a distinction between the two . There is definitely a distinction. Before i give you that distinction, i want to credit you. You were the first person i heard called the bottom. You caught it with conviction. I should have followed you. You were dead right. Charles thanks. I looked at economy and market two separate entity toss. Im looking at economy how markets continuing to rise in terms of economic numbers . We know gdp, the print on wednesday will be probably to the negative side. We know q2 will be a he have ugly negative gdp print. Still with 26 Million People lining up for unemployment benefits, another three, four, five million this week market goes higher y . The markets want to go higher. Theyre looking to discount the future. They understand eventually this too shall pass. When we see main street somewhat opening up a stocks at the bottom are getting picked up now. Charles lets talk about the big momentum names. Some people call them tech but theyre spread over. Amazon, google, microsoft, apple. Theyre consumer, tech, communications services. Ironically, shah, technology is a laggard as the worstperforming sector in part because of apple and amazon . Where do we go from here . These names will report. They carried this market. There is a lot riding on them beating or somehow going higher from here . Youre absolutely right. There is a lot riding on a the big names, big cap names, megacap companies brought the market higher. The companies you name, the top five, are 20 of the market. As long as they will continue to do well the market as we know it will continue to do higher. Their earnings are super important. I dont think facebook and google will that be great because we know that ad spending is down 15, 20 . I think microsoft will hit it out of the park. Amazon will hit hit out of the park. Well see some winners and maybe not losers but ones that arent going to meet consensus. People say if they come down a little bit, that is still a buying opportunity for those. Lets hope leadership continue toes be big cap stocks because they have the power. Charles right. Erin, to that point, microsoft is the name of all of those names in the last six quarters that was up a week after reporting. The rest have been mixed and very volatile. How are you handicapping it . Yeah. Again im looking where we looked at sort of Old School Technology and more internet online, as well as those can deliver not only retail customers, but like large corporations and, so im looking again at strong cash flow, high quality. Im looking at ibm and f5 networks as two technology charles really. Along with amazon. Yeah. Charles i love ibm, even though it got hammered on earnings and dividend is great. They are coming on the cloud. Quickly for both of you, we saw in mark, record shorts out there. Folks not familiar with it, essentially people are betting on the market or individual stocks to go down. Record bets on those. Erin, anything that you see could be a short squeeze . Today, for instance, way fair is up. At one point beyond was up. They are both downgraded but massive short positions getting squeezed . I think carmax is the one i really like. The price keeps going up and the shorts, rather, as price went down the shorts kept going up. There is exceptionally high short percentage, or, number of shares borrowing short list. The price goes up, that will be a real squeeze for quite a few short sellers. Charles it is one point number one percentage gainer today. Shah, any short squeeze ideas youre looking at . Not right now. Im scared the market is so strong. Im scared if we come back down, leadership falters, im looking to put shorts on. It is far too dangerous, charles, now. There are some short positions on. What we see a lot of stocks getting squeezed a lot higher. That brings momentum buyers. Shorts come in pound again and shorts have to cover. It is too risky to put on shorts during earnings. Charles okay. Shah, erin, thank you both very, very much. We have got a pretty good market start here. This of course as coronavirus cases and death numbers continue to plummet, more and more americans are questioning the need for shuttering our economy. Many wondering why must everyone suffer, instead after strategic, targeted, plan, looking at densely Populated Areas more vulnerable, i want to go to Economic Advisor for President Trump, steve moore. Steve, you know, it is really increasing, looking back on this 10 years from now, a lot of people might wonder what were we thinking . Why we shut down the entire economy. You have been adamant, particularly recently to open the economy back up. Well, charles, i was actually adamant when we first closed it down. I always thought it was a mistake. Obviously, put saving lives first and put Public Safety of the American People first but we knew, we knew six weeks ago that from other countries, like korea and china, for example, that this was an illness, really affected older people, right . We knew that from what was happening in other countries. Obviously we should have isolated and put in to kind of sequester people in Nursing Homes and others to keep them safe. We also discovered over the last three or four weeks this is and urban disease, right . Thats not anything that is a big surprise. Every pandemic hits urban areas. So you have half of the counties in the United States hardly affected at all. In some cases no cases whatsoever. We could have done this a lot smarter. We are where we are. We have to get the economy going quickly. Our study shows, were doing a study with art laffer right now, your good friend, art laffer, it makes a big difference, in terms of what the economy will six months from now, whether we open may 1st, versus june 1st, versus june 15th. Start us now, will get us recovery by the end of the summer. Charles wow, that is amazing. Ive been asking this question for a month now, over a month. You know, the difference between every single 30 days, starting right now, we have 16 states already begun. Youre saying at this moment, this will actually get us, this country, moving in the right direction in just other 30 days and this could be a great summer . Lets be clear about this. States continue to open up. It will be on rolling basis. Some states like new york will be obviously slower because they have more cases f that scenario plays out where we get smart about this, charles, we havent been smart. We havent been very smart. We used a big clunky instrument of government, rather than being more surgical about where the cases are, but if that happens, we do think that by the end of august, you could see a recovery. By the way, that is what the stock market is telling us, right . If you look at past charles sure. Past big recessions or depressions, the stock market crash way more than it has right now. The stork market actually, im kind of surprised is not, how much is it down now from february . Probably what, 20 . Charles down 3 , s p is down like 12, 13 . Weve come back a a lot. Steve let me ask you. Other side of this coin. My wifes cousin passed away. He went on tirade on social media. Anyone who wants this to open upthey vent had a relative pass away. When do you talk about the economy flourish and going to funerals . Put safety first, put lives first, that is it what donald trump and white house has been saying that is exactly the right thing to do. I have to say this, charles, i refuse to surrender some kind of a moral high ground because i want to get our society opened up. There is increasingly strong evidence of increases in suicides, increases of child abuse. Increases on things like depression. Spousal abuse. Youre seeing businessmen and women, i mean, heartbreaking stories, charles. You told a lot of these stories in recent weeks. People who put their whole lives building these businesses and theyre failing by the tens of thousands every week. That is why we got to get things open. I believe it would be actually better for human health and for our economic well being if we to the things opened up quickly, safely. We can do this. Thankfully many states are. Charles, one last thing, you will see, said this last week, i will repeat it on your show. The red states that are opening up will have a much swifter and much more robust recovery than states like michigan, ohio, pennsylvania, that are dragging their heels. Charles steve, always great talking. Steve moore, thank you very much. Thank you, charles. Charles folks right now, President Trump is holding a, holding a Conference Call with the nations governors. The big question of course, is now should states be bailed out with a massive, im talking massive federal bailout . We are on the verge of a lawsuit epidemic across this country. Well break down the potential economic damage with Brian Brenberg after the break. Staying connected your way is easier than ever. Youre just a tap away from personalized support on xfinity. Com. Get faster internet speeds with a click. Order xfi pods to your home in a snap. Or change your Xfinity Services with just a touch. All in one place. Youre only seconds away from all of that on xfinity. Com. Faster than a call. Easy as a tap. Now thats simple, easy, awesome. Charles breaking news, folks. Out of the white house, at this hour it is a reportedly now taking dramatic steps to ramp up testing over the next two months. Senior Administration Officials say they will be performing more tests in partnership with nations governors, making sure that they have supplies they need to maintain minimum levels of at least 2 of the population. Now the goal is to have enough testing so that anyone who is symptomatic will know, plus all firstresponders and medical personnel and of course other highrisk parts of the population. Now the plan is a first step getting the entire country back to work. Mean while were looking at unemployment numbers as a key indicator now badly the site russ has hut our economy. Other figure providing grim answer. Is there anything that we can do that can be done rather to turn it around . I would like to bring in from Kings College in manhattan, Fox News ContributorBrian Brenberg. Brian, last week we had the on thursday, big virtual town hall on mark cuban, he told us we would see a different kind of entrepreneurialship boom when this is all over. Take a listen. When we get to the other side of this, there will be so many unique entrepreneurial opportunities, that great, huge American Companies are going to be built. While there will be a little lit of disruption, a lot of disruption, i think well build a lot of Great Companies that will employ millions of people that will create new jobs. Charles so, brian, what are your thoughts on that . Well, look, charles, when america faces a problem entrepreneurs are one of the first to step forward and find solutions to those problems. Right now, everybody is asking the question, when do we get back to the things that we used to enjoy doing, that we needed to do and what are things going to look like, how are they going to be different . Those are questions for entrepreneurs to solve. I agree with mark cuban. It will be a moment for entrepreneurship. The thing we have to remember, entrepreneurship isnt automatic. It requires an environment that creates space for entrepreneurs. My concern coming out of all of this, is entrepreneurs will be saddled with the kind of regulation, the kind of bureaucracy that could keep them from doing what we need them to do. I think thats the big issue, charles. That we have to keep a very careful eye on right now. Charles another issue for businesses that are already established, particularly smaller businesses is, what theyre calling a lawsuit epidemic. Just, you know, again particularly as we reopen, brian, if you are a beauty salon and you bring back workers, someone gets covid19, how do you protect yourself . Were in a real serious dilemma here, between a rock and a hard place . We are, we want that recovery to come quickly. Steve moore was just talking about recovery by the end of the summer. One of the keys to that, make sure that these businesses that reopen, that welcome new employees that welcome in the customers arent looking around every corner, wondering am i getting sued if somebody ends up with the virus . Right now trial lawyers are licking their lips, theyre lining up, looking for a customer or an employee who gets sick, they will go after that business. You know, never waste a crisis mentality, but if that happens on a largescale and these businesses dont get liability shield, it will be like a wet blanket on the economy and well never see the kind of recovery that were hoping for, that steve is talking about here. Charles you know, brian, between that and the Business Interruption insurance where, you know, most insurance policies arent being paid off, what can be done . In other words, the government is sort of nudging us back into this, whether it is federal or local governments. Is there any protection for Small Businesses out there . Well, look, state governments and the federal government need to make sure theyre providing a liability shield to businesses so they dont have to deal with this. We did this after 9 11 by the way. We did this with makers of antiterrorism technology. We made sure as theyre developing the technology and using it, theyre not being frivolously sued. That same thing need to happen for Small Business. With insurers, i think the government has to be an advocate to make sure these policies are looked at carefully. You know Small Businesses sometimes are in a weak spot relative to the big insurers who can throw a army of lawyers at anything. Small businesses need to make sure they have an advocate, something the Small Business administration can do, chamber of commerce and others. These are the kinds of mundane, daytoday issues if we dont get a windup, we dont get a recovery, well absolutely have to get it figured out. Charles we do have to get it figured out. Folks, new, shocking numbers how many publiclytraded Companies Got gigantic loans designated for those same Small Businesses. David webb gives us is has take. President trump issues a major blow for states looking for federal bailout money but could this tactic be negotiated . Well be right back. Economy have you worried about your finances in retirement . Learn how senior homeowners are using home equity to improve their monthly cashflow and preserve their savings. Most people thought the three legs of retirement pension, Social Security and savings. Would be enough to get by but its kinda like this three legged stool. A little wobbly. But i think i might have a solution. The solution may be using your homes equity with a reverse Mortgage Loan from aag. Use it to Cover Health Care costs, medical costs, or to pay off large bills. Or just have the money on hand when you need it. Call now to receive your free information kit theres no obligation. Call now what many people dont realize is your biggest asset might very well be your home, and using your homes equity with a reverse Mortgage Loan from aag could play a vital part in funding your retirement. Not to mention, give you the cash to cover all those bills that seem to come out of nowhere. Access your home equity to have cash on hand when you need it. Act now while home values are high and Interest Rates are low. Call today your homes equity could add a fourth leg to your retirement plan. Much better. Not a threelegged stool but a reverse mortgage chair. Four legs. More stable. For the safety of aag customers, and to combat the spread of covid 19, temporary guidelines have been put in place, including exterioronly home appraisals. If youre over 62, your homes equity can be a source for retirement security. Find out if a reverse Mortgage Loan can give you the taxfree cash that can help. Give aag a call call now to receive your free information kit. Aag bringing stability to your retirement. Charles President Trump questioning whether the federal government should bail out states and local governments over the covid19 outbreak. In a tweet the president called out illinois specifically and large cities run by democrats. What if any help can state and local governments expect from the federal government . Tennessee congressman, tom green join us right now. Congressman green, thank for joining us this is huge conversation joining right now. This got interesting with, bill cassidy, joining bob menendez, saying the states deserve as much as 500 billion. How much should that be negotiated . Well i think there will be a lot of negotiating with the house. In our caucus there are folks who with lots of different opinions on that one. I know i can speak as a tennessean, what we dont want to do in tennessee to use taxpayer dollars to backfill bad decisions on Pension Plans and things like that. The taxpayers here will be very frustrated with that. Charles youve got places like new york state, new jersey, connecticut, they have very, they run these massive budgets and they do a lot of things for a lot of folks. They make a lot of promises. It is not just the pensions. Yeah, of course, when you hear Governor Cuomo saying, we want to help the front line workers, of course we do. No one is trying not to help Police Officers and firefighters. There has to be a way to make a distinction. So to your point, youre not paying for all the spending that new yorks does. That is exactly right. A great example is, new york pledged i think it was 30 million to fund the education, basically schooling, College Tuition for illegal immigrants. In tennessee, that is not something that we fundamentally believe is the right thing to do. We just think that is not the right thing to do. So we dont want to see our tax, that is a great thing about federalism. Our state, manages itself very well. We have no income tax. We are the Lowest Per Capita debt in the country. We have no tax on our Investment Income either. We dont want to see decisions made in other states paid for by us. That is one of many examples. Charles but there will be a something though, some sort of aid going to states, there is no doubt about that, right . You know, were going to have a negotiation about this. New york, you know, has bear, borne the biggest brunt of this thing. Clearly some funding for the hospitals and firstresponders, things like that, they have got to get something for that but, we, just have to make sure charles absolutely. We have to make sure its not funding their bad decisions in their government. Charles congressman, want to ask you about what is going on with china. The eu out saying that china is doing a massive disinformation campaign. A lot of frustration in general about this. I know you have been critical of this, but some are saying, you know, calling china out is not enough. Ultimately, when this whole thing passes if we dont do something about it, it will never change. Thats exactly right and i have introduced a bill last week that would confront one of many issues with china. This particular issue is, during this global downturn theyre going out and buying up Distressed Companies that have National Security ramification. When these small, startup companies, need to fund themselves, they often times have to go through Capital Markets and sell shares to the company while china is glob belling these companies up right now. Even nato, secretary general of nato put out a statement saying this is [inaudible]. So my bill would create investment guaranties to investors to buy those companies charles that is good news. Senator green, always appreciate it. Thank you very much. Thanks for having me on the show. Charles you know, folks, there is a new study out from fact squared finding more than 200, 200 publiclytraded companies raked in more than 850 million through the sba ppp program. As you know by now that was meant for Small Businesses to keep workers on. The worst offenders taking tens of millions of dollars each of the pot, out of this pot. So taxpayers right now, i guess theyre footing the bill for these giant companies but there is some heat coming on. Want to bring on fox news host david webb to help discuss this. David, the last week, a lot of these companies have been called out. Several of them begun to give back money, but many saying no, well keep the cash, even though we know the spirit of this was all about Small Businesses, not publiclytraded companies, not companies who have billionaires in charge, but Small Businesses, trying to make it daytoday. Yeah, and charles, this is why when government decides theyre going to give out money as they did in this case, theyre not set up with checks and balances. Government is not set up to do this. So these companies that have come in, that have the ability to find other ways and some of them around the country have, lets not punish all big business with this, getting extra liquidity at start of this, doing everything they could to be ready, theyre the ones who should be held to account. They have to find away to limit this, pull it back. I get it, theyre large drivers, they hire a lot of people but Small Businesses cannot survive and that is where big businesses come from. Whether it is five million, 10 million, whatever number, it is taxpayers dollars should go more to help taxpayers not just help bottom lines. With all due respect to these big businesses we need some line of delineation, if youre over tax cap or valuation, maybe you should get a second look before you get a dollar out of the taxpayer. Charles no, just five minutes before the show, breaking news headline was Los Angeles Lakers returned almost 5 million bucks. So i dont know, somebody has to be saying we accidentally got the money. No they didnt. How do you accidentally get millions of dollars . Look at axios, charles. Axios is a 200 milliondollar valuation. They have one of their big funders, steve jobs exwife, she is worth 25 billion. Is five million to axios really a good idea . Come on, nobody accidentally gets millions of dollars. Charles no doubt about it. What do you think they should do . Youre close to the administration. Should there be a line, mnuchin sort of suggested the honor system will prevail. Ultimately the companies will return the money. No the honor system wont prevail. I like steve, because he is looking at this economically but lets be honest, these companies are going to take the money wherever they are not going to return it. Only do it if they are called out. I would reach this out to the American People, that you work for a lot of these companies, and it is time you started speaking up for your fellow american who will bear the brunt of this. Think about this, Small Businesses cant recover, and some 140 million americans, lets say we lose 25, 30 of them out of the Small Business workforce, what is that going to do to your community and your neighborhood while the big company does well . Charles yeah. And in fact i think workers at autonation complained and they returned the money. David, thank you very much. See you soon, bud. Charles President Trump set to hold a News Conference later tonight. He is very unhappy with media coverage. Republican National Committee chair Ronna Romney Mcdaniel will weigh in on president s strategy next. With fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. A partner who makes sure every step is clear, there are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Their medicare options. Ere people go to learn about before theyre on medicare. Come on in. Youre turning 65 soon . Yep. And youre retiring at 67 . Thats the plan well, youve come to the right place. Its also a great time to learn about an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company. Heres why. Medicare part b doesnt pay for everything. Only about 80 of your medical costs. This part is up to you. Yeah, everyones a little surprised to learn that one. A Medicare Supplement plan helps pay for some of what medicare doesnt. That could help cut down on those outofyourpocket medical costs. Call Unitedhealthcare Insurance Company today. To request this free, and very helpful, decision guide. And learn about the only Medicare Supplement plans endorsed by aarp. Selected for meeting their high standards of quality and service. This type of plan lets you say yes to any doctor or hospital that accepts medicare patients. There are no networks or referrals to worry about. Do you accept medicare patients . I sure do see . Youre able to stick with him. Like to travel . This kind of plan goes with you anywhere you travel in the country. So go ahead, spend winter somewhere warm. If youre turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. Thumbs up to that remember, the time to prepare is before you go on medicare dont wait. Get started today. Call unitedhealthcare and ask for your free decision guide. Learn more about aarp Medicare Supplement plan options and rates to fit your needs oh, and happy birthday. Or retirement. In advance. Charles President Trump meeting with the nations governors via videoconference at this hour. While some states, theyre ready to start reopening, this as the white house changed its mind and will indeed hold a Coronavirus Briefing later on today. This after President Trump blasted the media earlier today in a series of tweets including one saying there has never been in the history of our country a more vicious or hostile lame stream media than there is right now. In the midst of the national emergency, the invisible enemy. For more on this i want to bring in rnc chairwoman, Ronna Romney Mcdaniel. Thanks for coming on. Thanks for having me, appreciate it. Charles i have been frustrated watching these from the very beginning with the q a part of it. I always said, just take some questions off the fdas website, off the white houses website, off of twitter. You know these questions are not always legitimately about coronavirus or the economy. There is a lot of gotcha stuff in there. It is just tough to watch. Charles it is tough to watch, especially when youve seen what the president has done, harnessing the private sector, working with local and state leaders in a time of unparalleled crisis in our country, with so Many Americans out of work, obviously with this pandemic and you have the media, the media who is so agenda driven against this president , many have turned off the briefings and turned back on for the gotcha questions. It is shameful to watch. Many Media Outlets use the briefings as a time to push their other than political agenda rather than getting information from the American People who want to hear from their president. Charles i mean i have watched them try to pick fights between President Trump and dr. Fauci. Fauci and everyone else. And it is just, it is, again so frustrating to see and hear. You wonder why the white house goes through it. I guess you hope you will get some legitimate questions. So how are things going to change . I think the president came back today, said we need to share some new testing guidelines. He will continue to tell the American People how no american has been left off a ventilator, who needed one because of ventilator production and harnessing of the private sector. He will talk about expanded testing. He has Important Information to get to the American People and it is very, have he sad to see the media not be part of this whole of america solution. Instead they are against trump media. And this is not what we do in times of crisis. I know that i am one of the people who likes to get this information as an american citizen. I like to see our president speak. It is very, very helpful. Things like your show last night, what you did last night, charles, that whole show about money and how to invest it, was so critical, my husband and i watched it last night. These are the types of things that people are scared right now. Charles thank you. People love jobs, worried can i pay the rent, they want to hear from leaders and sad to see the many not be part of the sohus. Charles you say that it feels like the media, theyre really actually the exact opposite. In fact just about an hour or so ago andy lack commented, one of the quotes i want to share with you. He said President Donald Trump came into office railing against many of the foundations of our Democratic Institutions including a free press. 40 months into his administration, coverage of the coronavirus outbreak is the latest sign. He hasnt laid a glove on serious journalism. His attacks put the bully in bully pulpit but they havent shaken the soul of the first amendment. There have it, rona, andy lack saying it is about the president and him being wrong in this. The message is things probably wont change. Well the president called all along for a fair press. I think he highlighted how unfair the press really is. To listen to andy lack of all people, the person who covered up for matt lauer and Harvey Weinstein at nbc. The person who had six interviews with joe biden since these allegations have come forward, they have not asked him one single question, for him to say that is just rich because. Nbc and Mainstream Media treats republicans than they treat democrats. It is on full display how joe biden is being treated versus how Justice Kavanaugh was treated with similar allegations. Charles ronna, thank you for watching the show last night. Thank you for being on this show. Indeed, im glad the press conference is on. See you again real soon. Thanks, charles. Supreme court handing Health Insurers a major win, what theyre calling a bait and switch in the obamacare law but one lone justice is calling out the ruling as a massive bailout. We have the details for you. Limu emu doug [ siren ] give me your hand i can save you. Lots of money with Liberty Mutual we customize your Car Insurance so you only pay for what you need only pay for what you need. Liberty. Liberty. Liberty. Liberty. Edward jones is itswell aware of that. Et. Which is why were ready to listen. And ready to help you find opportunity. So. Lets talk. Edward jones. Its time for investing to feel individual. And now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles in middle of the pandemic the Supreme Court handing a major win to Health Insurers. Cheryl casone in our new york newsroom with more. Cheryl . Thats right, charles. So the Supreme Court in181 to that the federal government had to pay millions to insurers and risk corridor. That is reversal of a lower court decision. It limited profits and losses of insurance plans, offered plans through obama care offering plans to folks who couldnt afford it. Judge alito lone dissenter said the decision was bailout in the insurance industry. He wrote, under the courts decisions billions of taxpayer dollars will turn over to Insurance Companies that bet unsuccessfully on the program in question. Judge sotomayor in her opinion wrote whether petitioners, insurers who claim losses under Risk Corridor Program have the right to payment under 1342 and damageses remedy for unpaid amounts. We hold that they do. This decision could open the floodgates for federal money going to the inshins indus at all. Many companies accused government as a bait and switch in regards to the program. The ruling will have little impact on obamacare after all. That faced a legal threat in a separate case brought by republicanled states that are challenging the laws constitutionality. The Supreme Court agreed to hear that case later on this year. As for Insurance Companies, lets look at some of the Major Players including centene and humana, anthem. All are slightly higher. Anthem, up 2. 25 to the upside. The dow up 352. A big story coming out of the courts in the middle of the pandemic. Back to you. Charles they wrote the law. They should, im not surprised they got paid. Cheryl, thank you very much. You bet. Charles meanwhile as more states are looking to reopen they are paying close attention to how other countries are bringing back their retail. Want to go to Ashley Webster with more. Ashley . Good afternoon to you, charles. As the u. S. And countries around the world slowly reopen business, the key to a rebound of course is Consumer Confidence and that could take a while, but, according to the Furniture Store or company you like, ikea, that operates Shopping Centers around the world that rebound is already being seen in china. Ikea says the latest report there shows foot traffic is0, 80 of normal. That is pretty strong number. In germany the ikea there, the turn out is 63 with shoppers being more cautious as the Stores Slowly reopen in europe. For the u. S. Of course Consumer Confidence will be critical getting the economy up and running. Consumer spending is 70 of gdp. The National Retail federation says essential stores that have remained opened will play a big role helping other retailers reopen. Well see other retailers beginning to open and theres a lot they can learn from those businesses that have been open these last six weeks and we gradually get back to more normal activity. That is what we need to insure to put millions of americans back to work and generate that gdp growth that is so important to our economy. By the way, the National Retail federation says it put together a set of guidelines called operation open doors. That will help businesses face all of those challenges of reopening and just late this afternoon, charles, we found out that the state of ohio says a number of retailers will be able to reopen on may 12th, but there will be no gatherers of more than 10 people allowed. If youre inside the store, you have to wear a mask. That is the rule. The same in europe, austria, germany, if you go to the stores you have to wear a mask. They would like you to wear it outdoors as well but thats not mandatory. Charles ashley, looking at some of these southern retailers Like Ross Stores as potential buy. Stocks looking good today. Thank you very much, buddy, appreciate it. My pleasure. Good to see you, charles. Charles sofar, folks, stocks ticking off the week in the green and more businesses to ashleys point reopening. Earnings continue to come into focus but could the fed actually mess things up. How . He is on stage on wednesday. He has done everything right but he could still blow it. Well talk about it more after the break. Look, this isnt my first rodeo. And let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. Eliminate monthly mortgage payments, pay bills, medical costs, and more. Call now and get your free info kit. Other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. Discover the option thats best for you. Call today and find out more in aags free, noobligation reverse Mortgage Loan guide. Access taxfree cash and stay in the home you love. Youve probably been investing in your home for years. Making monthly mortgage payments. Doing the right thing. And its become your familys heart and soul. Well, that investment can give you taxfree cash just when you need it. Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Charles the dow is touching highs right now. Lets call it the c. P. Effect. Maybe theres some other factors, too. This is a huge week for earnings as we also get the chance to hear from the Federal Reserve on what they may do next amid this coronavirus pandemic. Joining me to discuss, daved bahnsen. Let me start with the Federal Reserve. Survey out a week or so ago showed Jerome Powell the most popular fed chairman going back to Allan Greenspan and the general public couldnt name any fed chairs before that. Obviously people are pleased with what hes doing but theres also some criticism saying hey, while Small Businesses scrap over hundreds of billions, somehow the fed has bailed out large institutions to the tune of trillions. That do you s what do you say to that . It just isnt true factually. I will say paul volcker is still the most popular fed chair in my house. Its really important people understand the feds initial actions were to simply bring stability to the Financial System and we will end up monday morning quarterbacking what was right, what wasnt right, but as far as the longer term facilities they set up, this main Street Lending facility is totally unprecedented. To use a little equity from treasury from the department of treasury itself, lever it up to put money directly into Small Businesses, thats an unprecedented move by the fed. It hasnt gotten anywhere near the attention that their efforts with Treasury Bonds and mortgage bonds have. Charles right. And i think when i say we, most people i think applaud that. The idea, for instance, buying corporate debt, some of the high yielding stuff, for a company abc, for the last four or five years, that bought back their own stock to the tune of hundreds of billions of dollars, now they are in a jam with some of this debt and the heed fed i buying it up, essentially bailing them out, thats where middle class wealth is transferred into the hands of the wealthiest in this country. If that were true, i would agree. If there were literally high yield junk bonds buying back their own stock, but there werent. No one will find cases where the fed is buying the debt of companies that had been doing that other than maybe outlier cases. But the fed entering the high yield market at all is itself problematic. Its just that their objective even though it is bailing out some people that maybe are now benefiting from risks they took, their objective is to keep liquidity going through the Corporate Market so that companies can roll over their debt and not have a knockon effect, have them start missing payments that jeopardize their commercial mortgages, have them laying off a lot of people. Its a trickle down effect they are worried about. I dont think its a good idea for the fed to be intervening this way and risk assets at all. But this junk bond thing is hardly the first time they did it. It started enmasse after the financial crisis with all sorts of mortgage bonds and then nobody was complaining when all the main street people who werent paying their house payment and the fed was coming in and supporting those mortgage related bonds, then they expanded it and thats the world were now in. So i do think theres a lot of moral hazard we will be sorting out for years to come. Charles if you can answer this quickly, i want to get to oil, on that moral hazard question, overnight the bank of japan, another 186 billion, saying they are going keep buying corporate debt, corporate bonds, and they also own equities. Are we going to eventually see our Federal Reserve buying stocks . Well, the difference in japan versus america is that we have a constitution and we have a law from congress that makes it much more difficult. Do i think congress may one day amend the Federal Reserve act to allow for them to buy stocks, possibly, but i dont think the fed will be doing it until congress acts. Thats the difference. Japan has no such restrictions. Charles real quick, you were a big advocate of multilevel the limited partnerships, the oil industry in general o obviously having a tough go of it, down 27 on their latest contract, what happens with those positions, those mlps . Yeah, its all about quality. The lower tier ones, lower credit, highly levered, those ones are getting hit hard. The Higher Quality ones, you saw last week, Kinder Morgan increased their dividend. Companies like enterprise product and Kinder Morgan, we own those two, they have very good distribution coverage, very good debttoasset ratios, we think they will weather the storm. They have better counter parties. They are better exposed to Companies Like exxon, not companies that will be really struggling through this period. Charles we got you. [ speaking simultaneously ] i hand it over to liz claman. C. P. Effect. What can i say . Liz ill take it. Ill take it. We are heading into the final hour, charles. Thank you so much. The very first step to reopen americas economic engine has wall street cooking as we head into the final hour of trade but thats all charles payne, right . We have the Dow Jones Industrials near session highs, up 360 points, but problems at the oil patch back on friday, they are still in play right now on this monday. Crude oil down 23 at the moment. With too much product, near zero demand and near zero storage. What do you expect . Oil right now at 13