Transcripts For FBC Cavuto Coast To Coast 20240713

Mind at 2280, it is still a double digit advance on the year, but its the technology falloff thats getting a lot of attention here. Its led by amazon but concerns as well that the Technology Sector is not immune from some of these issues and then we throw in oil, whats happening with exxonmobil and chevron, as expected, reporting some lousy numbers. Its all weighing on the markets this first trading day of the month. Here to detail that, jackie deangelis. Hey, jackie. Jackie good afternoon, neil. Thats right. This really highlights the fact that earnings matter when it comes to the stock market. You take into account the fact that these companies were reporting earnings that only account for about two weeks of the Coronavirus Impact and we wonder whats going to happen when we get the Second Quarter numbers. But amazon and apple are really weighing today and amazon just shows you, its one of the stocks that everybody has left because theyre saying amazon is doing well during this, people are on lockdown, they need more goods but it shows you they could beat on their revenue, but they couldnt beat on their earnings because they have had to hire more people, they have had to increase wages, they have had to spend more on safety measures, and that all eats into the bottom line. Then you take apple and apple just flat out came out and said demand has been weak as a result of the coronavirus. The revenues there were flat and then the company didnt issue guidance because of the coronavirus uncertainty. So these are two very big red flags. These have been two market leaders as we have been moving forward. You think about that and the umbrella effect, the trickle effect to the rest of the companies. You mentioned the oil stocks having trouble. How could they make money with oil at 18 a barrel . So these are some of the things that investors are really starting to think about. They have been thinking for some time but they have also been a little optimistic. Heres what we know about earnings in general so far. 47 of the s p 500 companies have actually reported the First Quarter results. 65 have beaten on earnings and 63 have beaten on revenue but that really doesnt tell the entire story, because remember, analysts knew this was coming so they adjusted their numbers down. Whats really important here is that for First Quarter earnings for the s p 500, the expectation is a fall of 13 and again, you think about what could happen in the Second Quarter if this problem and the shutdowns, all of this is prolonged. But there are a couple bright spots for the market and thats what gave us the boost that we saw for the april numbers. As a matter of fact, the dow had its best month in 33 years. So it was stimulus measures, it was optimism on states reopening, optimism on the gilead treatment and the potential for a pfizer vaccine. The question is, how much longer does it take to develop these things and make them mainstream. The old adage says sell in may and go away. Well, a lot of people have gone away already. This is going to be anything but a typical summer. So its hard to know what to expect. Two points from this week, not to forget as we head into the weekend. T First Quarter gdp, minimally impacted by the coronavirus and also 30 Million People thus far dont have jobs. Back to you. Neil there is that. You and i have said, you know, what really will move this market is not so much progress on the earnings front as much as progress on the virus front. Until we see remdesivir pay off and i know they are ready to launch still more kits to the American People as soon as they get the go ahead to do so, until we have that or confirmation that its a vaccine or treatment that works, and a host of others, i dont know if we break out of this. But we shall see. Jackie, thank you very, very much. Jackie the only thing i would say, you have said this a hundred times, you know, it takes time to see a recovery like this go into place. The economic damage thats been done here is going to be pretty substantial. So the market, you know, it gets ahead of its skis sometimes with the excitement. Thats the only cautionary note. Neil we will be speaking to the Connecticut Governor about what progress hes seeing in just a second. Ahead of that i want to go to mike tobin because the slow unwinding of provisions that have affected a lot of states prompting protests nationwide and a big one right now going on in chicago. Michael. Reporter this is called the open illinois protest as you see many open the state protests. Its organized by Freedom Movement, usa. I can step out of the way and let you get a look as the protest is just starting to really get moving. Its not packed, i wouldnt say. You dont have people on top of each other. But they are certainly not six feet apart. Now, this Freedom Movement usa claims that they are a group of likeminded republicans. Their complaint is that they dont like the one size fits all approach. They want individual businesses to make their decisions about reopening. They want individuals to have the freedom about whether they will take the risk or not. And they complain that the illinois governor, and chicago mayor, are killing livelihoods by playing politics with a pandemic. In response to the pressure, mayor lightfoot said opening up before data and science tell them to is foolish. Also under pressure is michigans governor, gretchen whitmer. The demonstrators descended on the capital in lansing yesterday, in fact, went in some of them armed. Whitmer went the other direction under the pressure she was getting. S the legislature refused to extend her state of emergency so she did it by executive order. They also approved a resolution to sue the governor so anticipate court action in michigan. All this while the demonstrators complain that whitmer is exercising too much power. We can open up illinois safely. We can open Small Businesses. We have many Business Owners behind me today that laid off tens and 20s of people and they are not getting stimulus plans, they are not getting checks. These people need to eat. They meade need to pay bills. Reporter more than a dozen of these reopen demonstrations from coast to coast across the nation right now. Theres a counter protest here in illinois, a group called refuse fascism is mounting up an event and heading to this location. Neil . Neil you know, in a lot of these places, i think you touched on it, they violate the distancing provisions and that prompts protests of the protests but how is that faring across the country with some of these . Reporter well, specifically in michigan, you saw Governor Gretchen Whitmer say they may very well extend the need for these stayathome orders and lockdowns by attending these m demonstrations and getting within six feet of each other. So far i dont have any specific information that the people grouping up have caused an outbreak but it certainly is a concern. When you get a group of people, they all get together, they touch things, a lot of people are wearing masks, some of them are not, and we will see how that bears out in the long run. Neil all right. Thank you very much. Mike tobin in the middle of all that. We will keep you posted on how the protests go. By the end of next week, likely about 31 states will have begun the process of unwinding some of these provisions that have actually sparked a lot of these protests. Connecticut will not be among them immediately, but beginning on the 20th, will start loosening things. The degree to which is really up to, well, those in connecticut honoring what the governor wants to do. That Governor Ned Lamont joins us now, connecticuts governor. Governor, good to have you. The may 20th date, what happens on that date . What begins to unwind . Nice to see you. First of all, remember we never closed manufacturing. Most of our stores stayed open. Some of them for dropoff only. What we are doing may 20th is opening up more of the service economy. Thats nails, thats barber, thats restaurants for outside use only. We had our best health care expert, leading epidemiologist, come up with a strategy. They said frankly, the more you do outside, the safer it is. Thats why i went with restaurants outside to start. Neil when last we spoke, i always appreciate having you on, you talked about certain criteria that you are going to look at, not the least of which is a 14 day rate of decline in hospitalizations, very similar to what your colleague in new york, andrew cuomo, is looking at. You want to see a lot more testing. They are chief among things you are looking at, but what else . Masks. Make sure i can provide masks for every single Small Business that maybe doesnt have access to them so that their employees are safe and customers are equipped as needed. Maybe i will take a look at georgia. They opened up pretty early, about a week ago. So in a couple of weeks, we will see whether that was a risk worth taking. Neil you know, in georgia, what they did, its kind of interesting, yes, they did reopen a little early, but they did it under the most tentative, in other words, opening up restaurants and the like. I think texas is of the same mindset but at 25 to 50 capacity. If that goes well, starting at a low number like 25 , give it a couple of weeks, make it 50 . Would you entertain anything like that in your state . Absolutely. We would ramp that up over a period of time based upon performance. But i think a lot of our consumers here in connecticut are cautious. You know, well see whether they rush back to that restaurant or that shoe store, or whether they are going to take their time a little bit which is why its so important to have the Health Care Community take the lead, say these are protocols we believe to keep you safe. Neil now, the spike in cases is a possibility, im not a doctor but i talk to a lot of doctors who say its almost inevitable we will see at least a slight spike. They want to keep it down to that. They say if you dont see that happening, then you dont see reality. Are you and your folks recognizing that its distinctly possible no matter what you do, no matter what precautions you take, there will be a slight rise in cases . I think youre probably right about that. My metric is to make sure i have the Hospital Capacity always there to take care of people in need. Any time i see they may be pressing up against that capacity issue, we rethink again about whats open and whats not. Right now we have pretty good capacity. Maybe you can hear i got a little protest going on outside here myself. Neil i did hear about that. What are they protesting, the fact that you are being very tentative about this, pushing this to the 20th, now you quite accurately pointed out you didnt shut everything down so are they just saying they want everything opened up right now, like whats happening in a lot of these midwestern states . I believe its open up connecticut now and you can open up everything tomorrow, a, its incredibly risky, b, Public Health does not give consumers confidence, youre not going to have anybody in the store. I think what were doing on a thoughtful basis is good for the stores as well as good for the consumers Going Forward and keeps health front and center. I think you got to get the balance right. I think we got it right. Neil all right. We will watch it very closely. Connecticut Governor Ned Lamont, very good seeing you again. Thanks for coming on. Nice to see you, neil. Thanks. Neil all right. We will be watching those developments closely here. I was looking at this and it looks like there are 18 states where these various protests are going on. They dont necessarily have to be against the governor. They could be in municipalities. For example, in southern california, there are protests right now about beaches that are closed there but not elsewhere in the state, so it is limited to those areas that are directly affected by either a governors order or mayors order. So we will be following that. And how that all sorts out. Because politically, its like a grenade. Stay with us. With coronavirus spreading, people at higher risk must take extra precautions. You are at higher risk if you are over 65, or if you have an underlying medical condition. Please visit coronavirus. Gov for more information. In california it has been a lot of confusion. The governor reopened all the beaches a week ago and then said everyone seems to be violating distancing provisions, he was threatening to close them. The only ones he targeted were Orange County and before that started out, san diego, we are honoring distancing and dont think we should be in colluded. Something they said or the mayor said got that changed and those beautiful beaches are open. The mayor of san diego has one of the more enviable jobs on the planet. Good to have you. Thank you. Neil i always want to talk about san diego and why it stays in the same couple of degrees yearround. You have every right to be let me ask about what happened on the beach, you spoke out, your community spoke out. We have a plan that is working and we dont need a 1sizefitsall policy. We came up with a plan driven by lifeguards in san diego, professionals that are protecting people. I got the coastal city mayors together, a Bipartisan Group and Public Health officials and we have a clear, phased approach. You can go in the water, you can swim, you can run, jog on the beach but cant sit down during this first phase. It is designed to get you that access and exercise but lets have clear rules of the road, lets follow them and it is working in san diego. That was our clear message of the type of thing you want up and down the coast of california but my strong message was san diego this are doing the right thing. It is difficult, lets keep it up. Neil i know when the beaches were first opened you were dealing with a heat wave, san diego was its own little universe. Im wondering how much the weather comes into play, how this frustrated people when there was a threat of shutting down all the beaches. It does, especially when everyone has been inside so long. We started by opening Neighborhood Parks a week ago with clear rules and i said lets do the right thing so we can go to the next phase. When you lay it out and tell people dos and donts they will do it. The same is happening at the beaches, we have lifeguards, cops educating, reminding people what to do, what not to do and that will take place over the weekend, the weather is going to be good, weekends are always more challenging but what you have seen particularly in san diego is we are all in this together and dont want to mess it up. We want to do the right thing and you will see that up and down the coast as more of these phased policies come into play. That is the right way to do it. Neil slow and steady wins the race, thank you very much. We appreciate your insight. We will follow that and how the beach debate is going. Only Orange County beaches are closed was the mayor said anyone violates, the governor said anyone violating distancing provisions will be closed up as well. They are trying to honor that and we will keep an eye on that and what is a dismal start to the month of may at the corner of wall and broadwood, oil taking it on the chin, technology issues, doesnt matter if you have betterthanexpected revenues or facebook or amazon, if you are talking about the Coronavirus Impacting your bottom line and jeff bezos comes out and says 4 billion is the cost of addressing vest, what was to be her Second Quarter profit, investors digest, we are out of here. So i listen to audible almost any time that i can. Its my own thing that i can do for me. Since i dont have time to read, i mean i might as well listen. If i want to catch up on the news, or history, or learn whats going on in the world, i can download a book and listen to it. I listen to spanish lessons sometimes to and from work. Yea, it makes me want to be better. Audible reintroduced this whole world to me. It changes your perspective. It makes you a different person. 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Two this type of plan allows you to keep your doctor as long as he or she accepts medicare patients. And three these are the only Medicare Supplement plans endorsed by aarp. Learn more about why you should choose an aarp Medicare Supplement plan. Call today for a free guide. I want everybody to follow all the precautions and take care of themselves, for myself, myself and my family. Open up but do so. Carefully. Texas will have a gradual reopening process going on. Texas kind of interesting because they are staggering it. Some protesters are saying they are staggering it too much, the latest read from Casey Steagall who is updating us on what the Lone Star State is doing. Reporter hitting on that you have different rules for different businesses in terms of what type it is. The restaurant back there, the Mexican Restaurant is allowed to reopen today, 25 capacity. The gym is still closed and as we continue panning around this way you have all kinds of retail and other restaurants opening for the very first time. That is a salon, a spa and a barbershop, remain closed through midmay. Libraries are open with limitations but of this on the heels of a spike in deaths and new positive cases across the state. 50 people, the highest number since the outbreak began, bringing the total death toll to 782. Texas has 29,000 total cases. The governor has stressed the importance of Infection Control protocols. We will open in a way that uses safe standards, safe standards for businesses, for their employees as well as their customers. Standards based upon data and on doctors. Reporter many local communities implemented their own rules and ordinances like requiring people to wear a face mask or covering when they go out in public. Neil slowly but surely it begins. Casey steagall in texas. Congressman kevin brady joins us, ranking minority member on the house ways and means committee. Good to have you. How do you think your state is proceeding . Good to see you and hope you are staying healthy and the family staying safe as well. I think Governor Abbott has reopened the state very deliberately, obviously phasing it in. Not just keeping maximum pressure on the coronavirus but increasing testing in Contact Tracing where we have 800 professionals following those infected patients to determine who they met with so i think it is a very thoughtful approach. It is permissive in the sense that businesses dont have to open a lot of retailers, a lot of Outdoor Sports venues, those are limited and others are ready to reopen safely. Two interesting things about this order. One is it recognizes in rural counties, some of which have 02 four or five cases, they are allowed to reopen that 50 capacity if Health Conditions permit and secondly, as much responsibly on the customers as on the businesses themselves. Those are screening personal hygiene of masks, appropriate by cdc and social distancing applied to the customers as well as to the businesses so he is clearly keeping a maximum pressure first approach. That is the right way. Neil the president has been talking up a payroll tax cut as another new wave of stimulus. I dont know where that stands but how do you feel about it . I have been pretty lukewarm about payroll tax holidays for the economy. That is starting to change, the unemployment benefit created by congress, for half the workers, they get paid more to stay home than to work. That is healthy in the long run but will extend this recession, workers have a 7 pay raise. It could help, inflationary pressures on wages, i do think of all the Options Congress is weighing about more economic support. I would think considering payroll, complete payroll tax holiday for the workers is far more efficient than another round of Economic Impact statement generally so i have always been pretty lukewarm, conditions change. It is something we need to look at. Neil how do you feel about aid to the state . Bankruptcies soften that. In an interview with me, saying i will consider it if you have liability protection, help support companies that are hiring back workers and if one of them get sick, contracted the virus that they are not sued. Nancy pelosi rejected that out of hand. How do you feel about that . Congress has committed 765 billion to local, state and local communities. It has been a huge commitment. Second we, unfortunately, some governors are hoarding the dollars we sent to smaller communities, refused to pass them on. I dont think there will be a discussion of additional dollars as long as states are ignoring congresss intends to help our smaller communities. Thirdly i think leader mcconnell was really focused on the 5 trillion of pensions it would state of runup, taxpayers around the country shouldnt be paying for that but i do think that we should be following just as we do with Small Businesses, hospitals and all, we should be following what is happening on the ground. If there is more needed lets consider but i do agree, we are going to need reasonable liability reforms. That will make sure businesses put in those safeguards and i think we definitely need changes on the unemployment insurance. It should be extended, it should be converted into a return to work type bonus. We need people coming off the sidelines and back in the economy if we are to help in the long run. Neil a lot of them are getting more unemployment than in their existing jobs, that is a tough thing to expect. It is unhealthy, certainly in the longterm. Work is where you get healthcare benefits, retirement benefits, creates work and there are lots of positive reasons for getting you back into healthy, safe workplace. It is crucial for a lot of reasons, to get people back off the sidelines. Neil that is a good point. We dont think of the other aspects of that. Be safe and healthy, my best to your family, your constituents. Be well. Stuart we have a lot more coming up including projections on how bad things could get before they get better. Almost everyone assumes once people start trickling back to work especially in larger numbers will improve but that doesnt take away the fact that gdp contracted close to 5 in the First Quarter still cant contract. In excess of 30 in the quarter we are in. After this. Im searching for info on options trading, and look, it feels like im just wasting time. Thats why Td Ameritrade designed a firstofitskind, personalized education center. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well except now, youre binge learning. For a limited time, get up to 800 when you open and fund an account. Call 8663009417 or visit tdameritrade. Com learn. Sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. Seeing the break in the clouds before anyone else. Together, well weather this storm. s neil this is happening in new york city, the City Hall Park not far from where the mayor works. There were several weeks of this, wanted to get back to unwinding, the new york city pretty much like new york state, holding off, the city all but shut down, a lot of people want to reopen, the sooner the better even in stages. In new york city, the stage part is not happening to anyones liking particularly these protesters. We kept the sound down because some of them are saying nasty words. In the meantime the president wondering not only what china knew and when it knew it but whether it might have concocted something. Take a look. Have you seen anything that gives you a high degree of confidence that the institute of virology was the origin of this virus . Yes i have. And i think that the World Health Organization should be ashamed of themselves, because they are like the Public Relations agency for china. Was gives you a high degree of confidence that this originated from the institute of virology . I cant tell you that. Im not allowed to tell you that. Neil the next question is was actually concocted in the lab and deliberately so . There is no way of knowing. A lot of accusations going back and forth pretty quickly. Former judiciary and Oversight Committee chair darrell i said joins us. Good to have you. Enlighten me, where are you on this . It is one thing to say all of this started in a lab but quite another to say it might have been deliberately so the president , a lot of people, dont know if you are among them are wondering, are you wondering . I choose not to wonder if it was deliberate or not for a moment because this lab has been rated repeatedly is nowhere close to what we would call a level iii or 2 lab. The controls there are substandard and concern us. Because of that, anything they are working on whether it is been idly or for good purposes or not is at risk and that is the concern, where the president talking about the likelihood that this isnt a coincidence and the reality that china needs to be more transparent and they need to up their game on safety and accountability because it has cost trillions of dollars and countless lives. Neil congressman, the World Health Organization is on the wires talking about what it knew and when it knew it and criticisms back in january, should have alerted the world to a possible pandemic when it didnt, only 82 deaths at the time in china. It had no way of knowing at that time, it escalating into something do you believe that . Know i dont. The World Health Organization. I visited there. I have been in geneva. They have this ability to say give us lots of money because eventually there will be a pandemic and at the same time they will look at you and say not only is it inevitable but it is unstoppable. That is not an organization configured for the benefit of the world or the United States should be counting on to prevent the spread of the next disease. Neil if we are talking about this virus starting in a lab, then how did it get out of that lab . There are a number of ways. First of all if this west market had anything to do with it, they might not have been controlling many of the animals they use in their test meeting getting rid of excess animals they thought were not infected when one of them was infected. Another possibility is quite frankly people, as they often do in china, they work in a lab, work somewhere, that is a fixed amount of money. They will also work somewhere else in the crosscontamination of some individual that worked in the lab. Those are both possible. One thing we do know is china was not honest and forthcoming. China handpicked the who head. China in fact continues to deny its culpability as though this didnt come from china. The italians look and see if it didnt come from china, why is it the epicenter of italys problem are the people who come from china. It is very clear that the who will not hold china accountable now or in the future and that is a problem that has to be addressed by the president. Stuart thank you, good seeing you again. To the congressmans point, a bulletin in place of charges, right now in china, reporting the province is going to have its lockdown completely lifted in stages. They are setting that up to relax the lockdown. Is the longest lockdown of the province or locale in World History and it will be, starting today. I came across sofi and it was the best decision of my life. I feel cared about as a member. 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 my own thing that i can do for me. Since i dont have time to read, i mean i might as well listen. If i want to catch up on the news, or history, or learn whats going on in the world, i can download a book and listen to it. I listen to spanish lessons sometimes to and from work. Yea, it makes me want to be better. Audible reintroduced this whole world to me. It changes your perspective. It makes you a different person. See what listening to audible can do for you. It makes you a different person. 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. Keeping a close eye on the corner of wall and abroad in new york harbor and the statue of liberty and and the stocks sinking, when the stock is too high. When the founder of the company says that, we are keeping a close eye on that, reporter a host of other development here. It is 74, a little north of 700 a share. We are also taking a look at how we get a lot of this stuff. They are largely doing without physical people on the floor of the new york Stock Exchange. The issue becomes how do they get back to what they have. It is not like crowded days when you could slip paper between traders but a couple months ago before they put in all these rules. Charlie gasparino has all of that. What are you hearing . The ceo talking down his stock. I thought it was a typo at first. It is just nuts and it will lead to some sort of pressure, and he is selling. And we can address that later. Lets talk about the Stock Exchange basically a symbol of finance longterm, the floor of the Stock Exchange, we report they were considering closing inundated close it amid the pandemic. This isnt what we were saying. Some insight to, and some sort of activities there. Telling the foxbusiness network. Stacy cunningham will be there and probably will be. And this is an important time. They are setting plans to reopen the state. What i understand, theres some sort of insight. That is the problem we have. A lot of this depends, governor cuomos plan, and midmay in two weeks, what he is going to do is open the state, those least affected by the coronavirus, that opens first, i heard manufacturing and construction will be open first and he will roll up throughout the state based on areas least affected by the virus in terms of caseload. The epicenter is the new york city area and this is why will be hard to give a firm date on the opening of new york city. It is a place where it is hard to social distance. If you have floor traders, by the nature of their job, it is honest impossible to social distance. If you look at it from regional standpoint. From a business standpoint. According to people i talked to in government, the types of businesses that will be open first. They will not be open until june, that is what im hearing. It is a weak indication, we dont know, we will get some indication, where, when and if theres any plan to reopen the floor just now. This is a meeting with the 2 best the floor committee. It goes, a lot of this is run by the government in albany. Cuomo is opening the state but it is slow. It will begin in midmay, by region and business, the regions opening first are upstate. If you monitor the situation throughout, that leaves only two weeks until june and then you look at the new york city businesses if they are open in june on the june or early june, the ones that are essential in the ones you can social distance it is very hard to be a floor trader and social distance. Back to you. Neil or a new yorker working in manhattan. Thank you very much. I want to switch your attention to florida. A different case. We had the latest jobless claims. We were surprised to learn that florida led the country, what the heck . After this. Tell me, what did verizon build their network for . People. And when peoples every day is being challenged. Thats when a Network Shows what its made of. Verizon customers are making an average of over 600 million calls and sending nearly 8 billion texts a day, every day. Businesses are using verizons added capacity to keep them connected with customers. And when people are depending on you for those connections. What do you do . Whatever it takes. Why accept it frompt an incompyour allergy pills . E else. Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief neil all right. Even thou even though states may not have the same hospitalizations or cases or sadly, even deaths, florida is feeling the economic pinch. Keep in mind when ron desantis, the governor, was meeting with the president earlier in the week, he was mentioning the fact that you know, you cant help but feel the economic effect when all the parks and disney world, universal, host of others, are virtually shut down and now we are seeing a reminder of that. The jobless claims in florida, just two million, in fact they accounted for the most claims filed in the country in the latest period. In the middle of all that, the state now slowly opening up. Phil keating following all of that for us now from florida. Phil . Reporter good afternoon, neil. Yes, two million floridians have now filed for unemployment benefits, yet most, about 60 , still have not received any money for six long weeks. That is one of the slowest rates in the nation. Here on ocean drive, which is usually touristrich, all the restaurants, bar, retail and hotel, is all shuttered up. All those people have been out of work and presumably also filing for unemployment benefits. Long lines of charitable food handouts have been seen daily in south florida, as income across the state has simply dried up. This was the crowded hialea a few weeks ago. People so frustrated by the states dysfunctional unemployment assistance website, even ripped by the governor as a clunker, they came to get paper applications the oldfashioned way. St. Petersburg musician tom davis knows the frustrating experience all too well. Hes lost out on nearly 20 grand so far. The unexpected technical error that is a page that it defaults to when the system shuts down on you as youre logged in or trying to log in. Sometimes ive had a few days of eight, ten hours getting that error. Reporter orlandos greg rolle got furloughed in march but he at least credits uncle sam. He already got his 1200 stimulus check and this week received his first 600 pandemic unemployment assistance. But still, nothing from tallahassee. We figured out, you know, the government, the federal, is on top of their game. The state of florida, i cant say. I mean, i cant say it here on tv what i think about them. Reporter for the very First Time Since this coronavirus economic crash began, california last week did not lead the nation in the number of unemployment claims filed. It was florida, even though florida has half the labor force of the golden state. But that could be a glimmer of good news. It could reflect that the state of florida is finally starting to get those glitches worked out in its unemployment website. Lot of frustration in the state and as you alluded to at the beginning, tourism dried up and this is a big tourism economy, especially here in south florida. Neil yeah. To put it mildly. Phil, thank you very very much. Phil keating in the middle of all of that. Some news to share with you that will happen in about an hour. For the first time, there will be a White House Press conference, podium and all. Kayleigh mcenany will be leading it. Its been more than a year since we had one of those Traditional Press conferences. Blake burman, who outlined what we could be looking at. Blake . Reporter one of the potential topics coming up at the white house in an hour from now is what might come next. You just heard from phil there, all of the pain and hurt as it relates to the state of florida, as a lot of folks are looking forward to a potential phase four or phase five, the next relief package. The white house, though, today continuing to signal that they are on pause as it relates to looking to what might come next. You remember just about this time yesterday, we were telling you that the white house, officials that we had spoken with still wanted to survey the landscape for at least several days to see what happens when states reopen. But i want you to listen to larry kudlow, what he had to say this morning, because he appeared to have lengthened that timeline, suggesting that the white house might want to wait as long as a month to see what comes next. Right now, were kind of in a pause mode, all right. Maybe the next 20 or 30 days. Lets see what happens with this latest tranche. We have our own set of asks and we will probably come together in a few weeks and resume the discussion. Reporter so thats the question thats brought before Kayleigh Mcenany, the new press secretary, just on the job in her second week now and with that, the first press conference, youre right, in more than a year that we will have in which the White House Press secretary will stand before the podium in the Briefing Room and take questions from reporters. A concept that was just sort of an everyday sort of thing in administrations past but have gone by the wayside in the past year and now at least we will hear from the press secretary in the Briefing Room. Should of course note the white house in the past has made the case that the president speaks to reporters directly but now they are bringing the briefing back at least for the moment. Neil . Neil what changed . Why now . Reporter there is a new press secretary. Shes on the job. Clearly something that she wants to do, though i can tell you at the end of the day, when you talk to people inside the white house, it is the president who is going to make the decision as to whether or not there are briefings. Stephanie grisham said as much. When we talked to her, she would say as much. Any time you talk to someone in the white house, will there be a briefing, it is up to the president. So he has the final call. Theres a new press secretary in play and clearly she wants to get before the podium there. Well see how it all shakes out and whether or not this sticks and youll know if it sticks or not by essentially whether the president s pleased or not. Neil thats right. Grisham never got the chance. She went on a lot of shows, talked to reporters but she never had a formal podium presser. Reporter yeah, she would go on the shows but she would never go into the driveway of the north lawn and with the driveway of the north lawn often came gaggles of reporters afterwards. It was very clear Stephanie Grisham didnt want to take questions from reporters who cover the white house on an everyday basis. Sean spicer did it, Sarah Huckabee sanders did it and now Kayleigh Mcenany will be doing it, too. Neil we will be watching closely. Blake burman in the middle of all that. Interesting, a little less than an hour from now. We told you a little bit earlier how some retailers plan to come back, macys, for example, plans to reopen some stores, a little more than 60 of them beginning next week. We are watching that. But not all retailers are so lucky or so fortunate. Word now that j. Crew, the big retailer, over the weekend will formally file the paperwork for bankruptcy. Lauren simonetti following all of that. Hey, lauren. Lauren hey, neil. So if you were struggling before coronavirus, you are still struggling now and you likely wont make it out whole. So youre right, reports that j. Crew will file for bankruptcy this weekend, joining niemann marcus, lord taylor, jc penney also exploring their options. Times are tough right now. Green street advisers says more than half of Mall Department stores will close by 2022. Its painful out there. There is a dash for cash. We have seen that with so many companies. Lets take a look at amazon, though. You wouldnt know it but they have been a coronavirus winner. Folks are stocking up on what they need from amazon but the coronavirus is also expensive and they are spending a lot of money on shipping and testing. Stock is down almost 8 today. Ceo bezos has been called to testify before the house. Did he lie about amazons Business Practices with regard to data from Third Party Sellers. Thats adding to the selloff for amazon today. I was talking about saving money. Did you know the savings rate for americans is the highest its been since 1981, and companies are also trying to save cash. These are just a few names that have suspended their dividends. General motors being the largest there. Other companies are tightening credit. Wells fargo as well as jpmorgan, they are no longer accepting applications for home equity lines of credit. These are risky for them. They are saying no more right now. And maybe you can help me figure this one out because i have been scratching my head all morning about this one. Teslas ceo elon musk tweets the stock price is too high and investors agree, because the stock is down sharply today. He also tweeted hes releasing his attachment to the physical world and wants americans to get their freedom back. Im not sure the companys attorneys approved these tweets but 716 for tesla now. What do you make of that . I have no idea. Neil i dont ever remember a ceo doing that. Im sure its happened or Something Like it where someone worries about whether the runup to the stock gets a little nosebleedy but to say its too high, obviously it sort of rattles folks. Does he see something we dont. But youre right, its wild. We will see what happens there. Lauren but it was in a series of very odd tweets. I know hes known for his interesting tweets, if you will. But he certainly moved the stock today. Phenomenal runup for tesla this year. Its market cap is more than gm, ford and chrysler combined. But to say its too high when you are the head of the company. Neil youre right. There were some other tweets there. Some you cant share with impressionable studio audience. Thank you very, very much, lauren. We will see what the fallout is from that. We do know as well that other companies and sectors are taking it on the chin so we probably werent too surprised when we got news out of chevron and exxonmobil that they were in a world of hurt. Big losses there. In the case of chevron, agoed about 4 billion to expense cuts that i think now bring it to around 6 billion this year. So obviously, there are concerns that even with oil trying to stabilize here, albeit at a much lower level, the average price of a barrel of oil, for example, exxonmobil was 37. Its far less than half of that now. John hofmeister joins us now. Good to have you. I notice in the case of shell oil, cutting its dividend, thats something we have not seen i think going back to world war ii. The industry is hurting. How long you think it will be . I think it could be hurting for who knows how many months or year or more. It all depends upon demand from here. Because whats really hurt the industry and the oil price is the incredible demand destruction that has been taken because of the coronavirus. When 95 of all aircraft are sitting on the ground and when commuting workers sit at home instead of driving to work, and when the freight for all the Retail Stores doesnt have to be delivered, theres just suddenly an abundance of fuel in the marketplace that you dont know what to do with. That craters the price. Both retail but also crude oil price. Nobody wants it. Neil im curious whether people slowly returning to work, we talk about three dozen states that by the end of next week will be reopen for business, albeit in stages, that that, people just going out and maybe taking advantage of these low gas prices more than they have when they have been largely sheltered, will change the demand side of the equation, maybe change these guys prospects. What do you think . I took a look this morning at vehicle miles traveled and in january and february, each month was up over 2 of the prior year. So americans were driving like they always do, flying like they always have, and traveling wherever they could, because we enjoy mobility. Then it just came to a screeching halt in march. And we dont have the details yet for march or april but its going to be bad. I do think people are anxious to get back in their cars and i do think there are people anxious to get back to traveling, but i think it will also be with some hesitancy because where do you go when youre in your car if your state hasnt opened up yet, or if places youre going will only take 25 of occupancy like is happening in texas today, you can go where you want to go but only 25 of normal occupancy can be allowed inside at any one time. I think its going to be a slow return unless we have some pretty clear direction on control over the spread of the disease and whether we have therapeutic relief from drugs, and whats the future of the vaccine announcement that may be forthcoming at some point. All of that combined to say this is going to drag on and Companies Like exxon, chevron, shell, fortunately, are very resilient. They are very resilient. They know how to manage in a low Oil Price Era and whether its a dividend cut or writing down the value of reserves, which it looks like exxon did, or just being very careful in Cost Management the way chevron is going, they know how to get through this. They have been there, done that. So im not worried im not happy but im not worried for them. Neil all right. From your mouth. I think youre right on that. When all is said and done, its progress on the virus itself that will change everything. That improves, a vaccine, best Case Scenario comes out sooner rather than later, that changes this whole dynamic. John hofmeister, thank you very, very much. Good read on all of this. You know, there are those who benefit in this environment. When a lot of people are sheltered in their homes, what do you think are among some of the things they bought . Obviously besides going on amazon and buying Retail Products or food and the like. A lot of people bought generators. A lot of people bought power related equipment. This is exactly the field for generac. You know, erin, i guess im not too surprised by that. That would make sense. But you were an instant beneficiary of that. But theres more to it than that. Can you outline whats been happening as people have been sheltering inside . Yeah. Theres a bunch of things that go into that. Its been a busy time here than time has been busy, actually been pretty busy the last several years. Power outages in general have been on the rise, Severe Weather has been on the rise. Those are the things that drive people to backup power. So its been largely, you know, our growth rates have been fantastic the last several years but more recently, theres a couple things i think are happening. First and foremost, obviously the covid19 situation has people thinking differently about, you know, what goes on in their home when the power is out. You know, the shelter in place orders many of us have been under, even though some of those are starting to relax now, this may resurface in the fall and could go on, you know, for some period of time until theres a vaccine, but its got people thinking a lot differently about just how important that power is. We are working from home, we are learning from home, we are shopping from home, we are entertaining from home. So home is a sanctuary and all of these things that we do in the home, you know, that stops almost immediately when you lose your power. The isolation that comes from that and the anxiety levels that increase as a result of that has people looking at our products i think in a different way. Neil i also suspect that a lot of people who have been sheltered in place are likely to stay in place for awhile, and that companies will probably look at the need of buying expensive corporate, you know, real estate when they can get the same productivity out of their workers filing it in from home. Again, perhaps a good backdrop for your business. Yeah, no, the longer term trends here, telecommuting as we used to call it, now we call it work from home, people that have their own businesses at home, thats been a driver of why people buy backup power because they are concerned about their livelihood. If you are somebody who is working out of your home, losing power is simply not an option. And clearly, that trend has been dramatically accelerated here for millions and millions of people for, you know, over the last 30 days. How much of that returns back, you know, to normal, quote unquote normal, you know, in the months ahead or even year ahead, we shall see. But i think its proven, the technology is proven robust enough that i think you are going to have a lot of people who are going to choose or maybe employers who are going to choose to have work forces, entire work forces now distributed and working from home Going Forward which of course, you know, again, makes backup power and the need for backup power that much greater. Neil all right. We will watch it very closely. Its interesting, though, surviving, more than surviving in this environment. Thank you very, very much. By the way, do any of you ever recall, its an interesting expression they have for kids looking to put off a year of college, a gap year and used to apply to those who wanted to travel after high school, why go to college right away. Now its getting to be something not forced, but a lot of parents and kids are saying at the same time why should i go back or Start College in the fall if im going to have to do it virtually . I cant have regular classes . High School Seniors now are seriously contemplating a gap year to avoid all of this in the fall. Guess whos worried . Colleges. After this. For many of our members, being prepared. Wont be a new thing. And it wont be their First Experience with social distancing. Overcoming challenges is what defines the military community. Usaa has been standing with them, for nearly a hundred years. And well be here to serve for a hundred more. Many of lifes moments in thare being put on hold. Are staying at home, at carvana, we understand that, for some, getting a car just cant wait. To help, were giving our customers up to 90 days to make their first payment. Shop online from the comfort of your couch, and get your car with touchless delivery to keep you safe. And for even Greater Peace of mind, all carvana cars come with a sevenday return policy. So, if you need to keep moving, were here for you. At carvana the safer way to buy a car. Its my own thing that i can do for me. Since i dont have time to read, i mean i might as well listen. If i want to catch up on the news, or history, or learn whats going on in the world, i can download a book and listen to it. I listen to spanish lessons sometimes to and from work. Yea, it makes me want to be better. Audible reintroduced this whole world to me. It changes your perspective. It makes you a different person. See what listening to audible can do for you. It makes you a different person. To ewhether youreting these uncaring for your. Family at home or those at work, principal is by your side. Were working hard to answer your questions. Like helping you understand what the recently passed economic package can mean for you. Were more than a financial company. Were a together we can get through anything company. Now, more than ever. So were working 24 7 toected maintain a reliable network, to meet your growing internet needs. Were helping customers who are experiencing Financial Difficulties stay connected. Were increasing internet speeds for low income families in our internet essentials program. And delivering selfinstall kits to your door. Nos comprometemos a mantenerte conectado. Were committed to keeping you connected. For more information on how you can stay connected, visit xfinity. Com prepare. Neil you know, this is the day, may 1st, typically high School Seniors have to let colleges know whether they are accepting their, well, acceptances. They sort of wean out the colleges they dont want to go to, choose the ones they do. But its a little more problematic for high School Seniors. Many of them are going to be robbed of traditional graduation and senior year events. If that isnt appalling enough, now they are talking about starting the fall at a college where it might be done virtually. Its too early to say but we have already heard a number of establishments, including brown and some others, saying that thats the way we might go to start things here. Then its the issue of whats a kid to do . What are his or her parents to do . Here to help out is chris hogan, the multibestselling author, every day millionaires the latest. How would you advise them . Well, i would tell these young people to really look at their options and understand whats going on. We already have a 1. 6 trillion student loan situation impacting over 44 million americans. So if im a young person, im going to have a hard time stomaching paying, you know, 21,000 for a Public University or did 48,000 or more for a pre school when you have some options for virtual classes that are nowhere near that expensive. I would advise them to really look at Community Colleges. An opportunity to knock out all the prerequisites online for about 3600 a year. Thats a massive difference between 22,000 and 48,000. So i think these young people have an option to look at this gap year but it doesnt have to be a year that they take off from pursuing higher education. Again, knocking out prerequisites, it would allow them to be able to work and save up money. Now, with a Community College, once you do the prerequisites, you can transfer those credits the a fouryear institution and graduate in two years. Neil thats an interesting development, too. The other benefit is no matter your grade, its the credits that transfer. If you get some of the nasty requirements out of the way, that are generally more difficult, you could start fresh at whatever college you ultimately choose to go. Say you go back to a fouryear school, maybe the one you were originally intending to go, and have a higher cumulative average so there is that. A lot of kids just like the notion of taking the time off and seeing europe or traveling the world. What do you think of those who do that . Well, i think its been an option for young people to look at and take the opportunity to be able to travel, but right now in this day and age, dealing with this coronavirus, you know, traveling abroad is not really something that could be as smart or healthy for people in the long run. So i would advise them to really stay safe, look at it and understand your option, but i wouldnt want them to expose themselves to physical harm by traveling outside of the country right now. Neil you know, there are a lot of kids that think i can deal with the virtual thing if i have to, i would rather start, you know, some way than put it off or do the Community College route but they would almost surely expect price concessions. Certainly their parents would if they were picking up the tab from the college itself. I dont know if thats likely. Well, im going to tell you, colleges are going to have to really take a look at their programs theyre offering as well as their pricing. They will have to sell to these young people like they never have before. This is an industry that was catching kids coming out, catching seniors that were automatically going from high school to college. Now as young people are looking an assessing their options, colleges are going to have to adjust their pricing or they are going to suffer greatly financially. Neil well said. Good catching up with you. Stay healthy. Stay well. Chris hogan, every day millionaires. Plain common sense, thats often in very short supply in this country. We have a lot more coming up including getting sports back into the groove. Talk about virtual classes. What about virtual stands . Like in nascar . They are going to resume but start your engines to an empty crowd. Some Companies Still have hr stuck between employees and their data. Entering data. 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. And mine super soft . With the sleep number 360 smart bed, you can both adjust your comfort with your sleep number setting. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. And snoring . No problem. And done. So ill wake up ready for anything . Oh, weve got your back. So you can really promise better sleep . Not promise. Prove. Save up to 400 on select sleep number 360 smart beds. Plus no interest until january 2023 on all smart beds ends monday. Seeing the break in the clouds before anyone else. Together, well weather this storm. Neil all right. You know it happens every year, may day, the first of may, we recognize workers all over the world. Protests are being planned certainly in the United States targeting the likes of amazon and whole foods, youre looking at target, walmart, instacart, a host of others, and the growing concern among those workers protesting is that their health and benefits are in question and they feel they are endangered and these companies have not done enough to help them. It gets a little weightier than that. Grady trimble on the latest on how may day is going. Sir . Reporter there are plenty of employees at this whole foods and there dont seem to be any issues here despite this threat of mass sickouts at many of the businesses americans have come to rely on during this pandemic, including of course whole foods as well as its parent company, amazon, walmart, target and Grocery Delivery Services like shipt and instacart. Some of these workers are calling for things like better hazard pay and sick leave policies, as well as transparency from these companies when there are coronavirus cases at their factories, warehouses and places of employment. All of these companies, though, say they have already made some major changes, including introducing better pay and benefits. They are requiring employees to wear masks and outfitting Stores Including checkout lines with plexiglas and providing other ppe, and Hand Sanitizer to employees who want it. Amazon says in a statement we object to the irresponsible actions of labor groups in spreading misinformation and making false claims about amazon during this Unprecedented Health and economic crisis. Shipt adds to that, saying despite these protests, we continue to see record numbers of shoppers, employees, deliver food, Household Goods and medicine to customers across the country each day. Neil, we should point out this is a sickout, people calling out sick, not staging large Mass Gatherings of protests so its hard to tell exactly how many employees are participating in this. But the companies have basically chalked it up to a small but vocal group of people making these complaints and just for some perspective, the petition for target employees calling for this mass sickout today, there are about 400 people who have signed that. Target has 340,000 team members across the country. So that shows you that it does seem to be a small but vocal group making a ripple today. Neil . Neil grady trimble, thank you very, very much, my friend. A lot of people want to know when sports will be back. Nascar the first to dip its toes in the water. Come may 17th they will go back to racing. There will be a difference. No one in the stands. Doug eldridge, sports agent, sports encyclopedia, on whether this could start a trend. What do you think . I think this could be the first domino. You and i have had the privilege of talking about this off and on for quite awhile now and our consensus has been if this is the new normal such as it is, if sports minus fans is our only option, then its an option well take. I think you saw this as recently as last weekend, when the nfl draft on the first night on thursday saw a record 15. 6 million viewers. That is significant because the average nfl game gets 16 million viewers. So it blew the doors off by more than 30 . America is hungry for sports from a fan standpoint but also from an economic standpoint. Neil whats next, do you think . Thats the big question. I think in so many ways over the last six to eight weeks when we have discussed the presumptive return to sports, its almost been a modified abbreviated version, its been whether, who, when and how. Whether sports should return. The presumptive answer is yes. Who makes that call . Relative to that, when . When can we safely return, irrespective of how you define safe, how . Whats the format going to be . In so many ways, maybe nascar is headed toward that which is to say gone at least in the short term are the days of the shoulder to shoulder packed arenas and stadiums we enjoyed as recently as a couple months ago, we may now have empty stadiums, virtual fans, or perhaps more problematic is a rejiggered for lack of a better term stadiums and arenas with compliant spacing in terms of the seats. Now, the nfl has the privilege and benefit of still being several months away. Mlb is eating into their regular season as is Major League Soccer in the u. S. Nba should be deep into the playoffs at this point but theyre not. So nascar following suit is the first domino. In so many ways, breaches the door for others to follow. Neil what about the nba . I know a number have been leading an effort, lets just forget it, this year is a lost cause, start up next year. How likely is that . Well, its problematic. I dont just say that from a logistical standpoint. Lets actually look at the numbers behind it. You know im a numbers nerd. An average nba game requires 1900 people to put it on. Okay . When you map that out and extrapolate it, of the roughly 50,000 people that the nba indirectly supports from an employment standpoint, over 40,000 or almost 80 of those come in the way of vendors, stadium security, parking attendants and the like. When we talk about the broader impact of the 100 billion sporting complex, many fans just think of it as a recreational escape from reality but the truth, as you well know, is it has a real impact on the broader American Economic landscape. When we say shelling the remainder of the season, especially when viewers numbers, participation numbers, are so back laden because we have become so complacent the front half of the season. That would be a huge Economic Impact. If the nfl is postponed or forced to play in empty stadiums, even larger, we can look at these numbers and say, based on the current trend lines, pro sports tend to take a 5 billion hit. Amateur sports, for instance, college, 3. 9 billion. And youth sports . 2. 4 billion, if you can believe it. It is an industry within an industry. Neil thats wild. Doug, thank you. Be safe, be healthy yourself. Doug eldridge, sports agent xroor. We have been monitoring new jersey governor phil murphy. Hes been speaking to the press. A number of favorable developments like hospitalizations, deaths are beginning to climb. Infections are spiking, though. That surprises folks. I only mention that because that could have great sway in whether he reopens the state on the 15th of may as he and other northeastern governors have teased. Pennsylvania is looking at reopening at least 24 counties. Not the entire state. Remember the pennsylvania governor was saying its different for us, too. There are a lot of rural regions. Maybe thats where the focus needs to be on reopening those 24 counties that are largely unaffected or not nearly as affected as the more urban counties on may 8th. That would be a week before other states, including pennsylvania, had said they would start the reopening process or at least consider it. Stay with us. Its a challenging market. Edward jones is well aware of that. Which is why were ready to listen. And ready to help you find opportunity. So. Lets talk. Edward jones. Its time for investing to feel individual. Avoid sick people. And touching your face. There are everyday actions to help prevent the spread of respiratory diseases. Visit cdc. Gov covid19. Brought to you by the National Association of broadcasters and this station. I wanted more from my copd medicine thats why ive got the power of 1, 2, 3 medicines with trelegy. The only fdaapproved oncedaily 3in1 copd treatment. Trelegy the power of 1,2,3 trelegy 1,2,3 trelegy man with trelegy and the power of 1, 2, 3, im breathing better. Trelegy works three ways to open airways, keep them open and reduce inflammation, for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Think your copd medicine is doing enough . Maybe you should think again. Ask your doctor about oncedaily trelegy and the power of 1, 2, 3. Trelegy, 1,2,3 man save at trelegy. Com. Neil you know, theres a lot of information on the coronavirus, covid19, the progress being made, how bad it is, whether it mutates, all of that. Lot of people get that, going on to sites like google and twitter, youtube, you name it. Adam schiff wants to get to the bottom of what happens when those sites are sharing information thats bad, just plain old wrong. Edward lawrence on that right now. Hey, edward. Reporter hey, neil. Yeah, representative adam schiff sending a letter now to the heads of google, the ceo of youtube and ceo of twitter, asking them to, when people connect with that video or information on social media, that they should then not only remove that information but also direct those people to go to the right information. They think the social Media Companies need to be more proactive on that front. Now, the tech giants say they are doing their best in order to remove that before anyone sees it, but schiffs letter says they need to do more to help protect the customer. Now, in a statement, the youtube spokesperson said this, saying quote, since early february, we have removed thousands of videos violating our covid19 misinformation policy, such as content that disputes the existence or transmission of covid19 as described by local health authorities, but schiff wants those companies to go further. Just like facebook announced earlier this month, it started connecting people with resources associated with the World Health Organization. When those people engage with false information on the virus. At this point its just a request. Also under fire with big tech, google and apple over tracking technology. Senators thune, blackburn and wicker, are introducing a bill that would give people more protection and transparency over their personal data as the companies create apps to track the virus. Finally, not immune, amazon. The House Judiciary Committee wants jeff bezos to testify, saying the company may have perjured itself before the Committee Last june, testifying at that point that the company did not use sensitive Business Information from Third Party Sellers to develop competing product, ultimately hurting those other businesses. In the wall street journal they did an expose, so to speak, they interviewed 20 former and current amazon employees, saying that amazon did exactly that. So big tech under fire here with the coronavirus. Back to you. Neil all right, edward, thank you very very much. You heard a lot about Gilead Sciences and remdesivir, whether a vaccine will come forward. What if its not an outright vaccine but something that slows the advancement of the virus . A researcher involved in just that that could be just huge even if it isnt a vaccine. After this. 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. Neil all right. We have dr. Khalil with us now, Infectious Disease specialist at the university of nebraska medical center, working with the state, working with others, it has found a number of very positive developments using Gilead Sciences remdesivir drug as a potential treatment for the coronavirus. The company as you know indicated today that its ready and able to produce maybe, you know, several million rounds of remdesivir as soon as next year. But doctor, whats interesting about what you are studying and looking at is how it can slow the severity or the progression of the virus itself. Could you explain . Sure. Thank you for the opportunity. So the study half of the patients have received remdesivir, half of the patients have received placebo. We start the study here at the university of nebraska in omaha about february 1st, a couple of months into the study we almost completed 1,000 patients. So we have a very substantial number of patients that participated in the study. And then the preliminary analysis that we have unfolded in the last few days shows us that the time to recovery for patients that received remdesivir was four days shorter than patients that received placebo. What that means is that the speed of recovery in patients that received remdesivir was about 31 faster than the speed of recovery compared to patients that did not receive remdesivir so this is statistically speaking, was highly significant. What that means is that it was a finding that was mostly related to the effect, the beneficial effects of the drug. The four days are actually shorter to improve, actually means four days less oxygen, four days less on mechanical ventilation, less four days in the hospital. So this is really very clinically meaningful factors for all patients. You really dont want to stay in the hospital if you dont need so having that advantage to not need hospital care, its something quite important, especially in a situation where our Health Care System can be over capacity, sometimes in hospitals like happened in new york where it was very hard even to have hospital beds. So if you can get the patients improving fast, out of the hospital fast, back home, you definitely also open the doors for more patients to be able to receive medical care. So this is one of the major findings, preliminary findings that we have of the study today. The second thing we found was that there was a chance for improved survival in patients that receive remdesivir compared to patients that did not. The survival in patients that received placebo is about 11. 6 and survival in patients that received remdesivir was 8 . So there is about 4 improvement in survival. The data was not [ inaudible ] but its a trend that fits the biology of the recovery being faster so it makes sense to believe that if you are able to recover fast from a severe pneumonia you potentially increase the chance of survival as well. I think the important thing here is all the patients that were participating in the trial were patients with, you know, severe disease. So these were not patients that were just home with the disease. These were patients that actually had pneumonia from the coronavirus, that required oxygen or mechanical ventilation so these are quite ill patients. These are the patients that have benefited from the remdesivir at this point. Neil so when they benefited, it accelerated their recovery, would this apply to people who were on ventilators . Normally when you get on a ventilator and are on it very long, you know, dismally, i mean, it only ends one way, not all the time, but a lot of the times. How did this change that . So this is very important question. So you know, every day that you spend on a ventilator, every day you spend in the hospital, increases your chances of having blood clots because, you know, in a hospital you stay in bed, every day you stay in the hospital, increases the chance of having hospital infections, complications in the hospital. So you are absolutely right, the longer you stay with all this supportive care, the higher the risk of complications, the higher the risk of death. So shaving four days from, you know, from this really difficult situati situation, it is a very important clinical benefit and we believe that the reason why this is happening is related to the fact that the bug, the remdesivir, is able to slow down the replication of the virus so if you are able to reduce the amount of virus with the medication, then you are able to improve the patients faster. Thats the hypothesis we have. Neil thats amazing. Doctor, thank you for all your yeomans work on all this. These are very encouraging developmentsme developments. Fingers crossed. Thank you very much. Be safe, be well yourself. Thank you. Neil pretty good news and it comes at a time we are hearing of another half Dozen Companies either working in concert with the United Kingdom and oxford university, a host of others, that are similarly working on something that can get ahead of this. And maybe sooner than we thought. Stay with us. You wouldnt accept an incomplete job from anyone else. 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Its my own thing that i can do for me. Since i dont have time to read, i mean i might as well listen. If i want to catch up on the news, or history, or learn whats going on in the world, i can download a book and listen to it. I listen to spanish lessons sometimes to and from work. Yea, it makes me want to be better. Audible reintroduced this whole world to me. It changes your perspective. It makes you a different person. See what listening to audible can do for you. Sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. And sometimes, you can find yourself heading in a new direction. But when youre with fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. Neil as we get back to work a lot of people are still afraid of flying and going anywhere but what if a foreign country or city or an important tourist outward to pay view for the privilege for coming to try to entice you there. Christina has been looking into that and apparently more than if you are think about arent they. I am, i was deaf i think about it, i faster viewers right now if it was time for a holiday or vacation but the big question is how many of you feel safe booking in vacation especially abroad. They will have to have masks, temperature checks and plexiglas. That might complicate your travel plans, travel could become more of a hassle than having the past, i think things are gonna get more expensive especially has to adhere to social distancing measures with reconfiguring the inside of planes because who do you think going to bear the brunt of that cost, is not going to be the airlines, its going to be the passengers. New majors are being put in place to lord travers under travelers, in europe in september set of gdp in the region is trying hard to regain the lost revenue with covid19 lockdown. In the Regional Government or the area of sicily, theyre going above and beyond, their Tourism Group confirmed to me as soon as they list the lockdown of businesses reopen, they will start paying for one out of every three nights of your hotel state in sicily, the Historic Museum fees and they also will pay a portion of your airfare, however, there will be conditions that apply and this is not on the website just yet, you have to Pay Attention in the next coming weeks. Spain is trying something else, they confirmed that they are creating covid free seal reprove over resorts in the area, these resorts must adhere to strict cleaning protocols which include desk staff are forbidden to hug, shake hands or even kids greeting guests. And not everybody gets it right, theres officials and another southern Spanish Village that are forced to apologize after spring a local beach with diluted bleach. Despite all of these measures from deep discount to offering new travel, travel to sicily, will it be enough to lure travelers to get back on planes increases. Neil i dont know, sicily is beautiful. That is tempting. They got it all under control i say. Practicing all the majors to practice, thats a tempting offer. I know. I agree. Neil okay. Christina, thank you very, very much. I think he might take up an upper like that, maybe si halfprice. Id like to go everywhere but midtown manhattan right now. Neil i hear you. We have everything, thank you, sir, neil cavuto, we have a white house briefing, were waiting on right now. I am cheryl and for charles payne. This is making money and breaking right now, stocks are lower today, the dow is variably up session lows, this is the first trading day of the month of may but we are still on track for a weekly gain and were coming up in a strong month, april was a very strong month for stocks, it does not feel like it but it was, earnings and measure enter major names showing us how the coronavirus is impacting their