Not before the bears came out swinging on news that 22 states now see increase in coronavirus cases and hospitalizations, as social gatherings seem to be replacing social distancing. Ridesharing startup via found itself in the middle of the covid19 reopening whirl wind already forced to up end its entire carpool model and the uber lyft rival faces another curve in the road as the virus rears its head again, and we have a fox business exclusive on why theres opportunity versus calam ity. This is the debate over restaurants reopening rages on crowded scenes like this one leaving new York Governor Andrew Cuomo to threaten new lockdown orders. Coming up the secret weapon helping everyone with restaurants to the nfl declare victory against covid19. No wonder their product is sold out right now. And whatever you ordered online during the pandemic, theres a good bet bubble wrap came wrap ped around it as its stock charges 25 higher quarterto date. Were about to show you how bubble wrap king sealed air is taking the human touch and potential pandemic spreader out of the delivery industry, the ceo is here plus another super charged win for elon musk. The surprising stock Arnold Schwarzenegger is pumping up and charlie breaks it were less than an hour to the closing bell lets start the claman countdown. Liz breaking news, as Warner Brothers pushes back the release date of Christopher Nolans tenant this big movie everybody is dying to see due to the coronavirus pandemic. The academy of Motion Pictures arts and sciences just confirmed that it is pushing the 2021 oscars from february 28 to april 25. The eligibility window for films is now going to be pushed back to the end of february instead of to the end of this year. You know theres usually this massive rush in december to get these movies out. The academy did not discuss whether the ceremony will have the famed red carpet and live audience. Weve got to wait on that news but right now the movie makers are mostly higher with just lions gate trailing about 2. 25 everybody else is up with sony taking the lead up 2. 75 . The biggest names in video gaming are charging higher in this final hour of trade on the prospect that they may have to enter mortal combat to win what could be the next big industry pride. At ts reported sale of its Warner BrothersInteractive Entertainment unit which boasts blockbusters including mortal combat and likely acquirers Electronic Arts and aboutivision belied and, take two as well are all jumping higher weve got ea up 4 1 3 , but look at at t its also see ing a gain of about a quarter of a percent. Former bodybuilding star Arnold Schwarzenegger shows hes got the muscle to move at least one stock. Look at Genius Brands its getting lifted by 9 right now, on news that arnold is going to star in and coproduce a new animated kid series for the childrens entertainment company. Now, under the agreement the terminator star will receive warrants which of course would make him an investor. A little bit of incentive there for him to do even better. Well if you bought this stock at just the beginning of the quarter you must be a genius because the stock just quarter to date is up 1,541 . Investors who pause into hertz rental car stock last week during a fender bender at this hour after filing for bankruptcy a week ago, hertz was granted permission to sell 500 million in common stock even after warning investors you may not get your money back. The stock today is down 34 , but on friday, the stock surged after hertz announced its plans for a share sale to raise as much as 1 billion in cash. Well you can see , there was a big spike here but now not so much. Tesla stock is heating up in this final hour, even after friday, Morgan Stanley cut its rating and price target on the electric vehicle giant the stock jumping on data today that shows tesla registration, specifically in china, in the month of may, jumped 150 monthovermonth. Well everything was shut down in april as you know but tesla not shut down at all gaining 5. 6 to 988. 26 and by the way speaking of china the ground zero for this coronavirus has suddenly restarted at least one lockdown after a new outbreak of the coronavirus cases and its a big one, near beijing. The World Health Organization says more than 100 cases have now been confirmed in the nation s capitol. China is warning of a very high risk that the new cluster of cases could spread. Its not just beijing seeing a rise in cases. Here in the u. S. We have 22 states now with texas and arizona at the top, that are seeing number of cases jump as states continue to reopen. While medical officials warn that a second wave was definitely coming, most were not expecting it to happen this soon supposed to come in the fall. Major averages though, folks were still up doubledigits since the march 23 low acrosstheboard. Look at the nasdac, up 41 since march 23 followed by the dow up 38 the nasdac up 37 , but you know, theres a nagging question here. Is this rally off the bottom sustainable or did investors just get snookered by a bear market rally so our floor show, we have the ceo and cme trader phil flynn. Ross was it the shortest recession in history or were investors who piled in last week victims of a bear market rally . Yeah, you know, i think that one be really really confused. When you look at even after the economy opens now, just amazing amount of effort every business has to put in j customs they can serve compared to the past, and all the stimulus weve seen on the shortterm has really put off the real pain of coronavirus economic pain for a little bit of time and i actually really fear the fall when these unemployment checks stop coming, and the jobs arent going to all come back, and were going to still be in a recession for a little bit of time here, and so liz yeah, but would we test the march 23 lows . I think the march 23 lows was based a lot of fear at the time of the unknown so i think that was extreme on the sellside, just like i think the rebound has been extreme on the bounce back on the upside because of just massive fed stimulus but i think when it all shakes out, i think the market should trade somewhere around 20 times this years earnings which look at around 140 so thats 2,800 is where we think the market should be, so we think the markets over valued right now and its all based off fed stimulus as you saw today. The realof was offset by just the fed talking up the market again, so the reality is we have a real big fight in front of us with coronavirus. This is not going to be that easy. Im sad to say, really. Liz well phil lets bring you into this conversation. How do you see it and let me throw this into the discussion. We finally saw some life in the ipo market. Everyone from warner music, weve got these names out there, nicola which was a different way of going but all of these companies are now higher than their ipos that came in just the last week or two, so tell me what does this say, is there a little too much froth or do you get the better sense here . No i get a better sense because listen when you think about it, this ipo market, the hottest since the last financial crisis, were starting to see some real confidence in the future, in the opportunities Going Forward and yeah, were fighting the covid virus, but you know some of the reports i think the market overreacted to the increase in cases. The majority of the world right now seems to have this basically under control. Were flattening the curve in most parts of the world so this could be a statistical anomaly something we have to watch but i dont think its a situation were going to close everything down, but i will say this , when we look at these ipo , tesla if he had a middle name id start a company because every time you start an ipo with tesla it does pretty good so i think we could do Something Like that but listen you cant fight the fed and i think the Federal Reserve, you know, your other guest was saying hes talking the market up but its like yeah you want to listen because theyre telling you they arent going to let this thing crash again and thats good for stocks. Liz yeah, accept when we got the selloff on thursday. Ross real quick. In the most conservative position weve ever had and i think the data that you mentioned is incorrect. Covid cases are rising throughout the world. Its a disaster now in many places in the world especially the emerging markets, and i think the fed isnt going to be coronavirus so as much as i love the fed and such, and im not in the short side of the market thats not what i do, were an incredibly conservative position and i think that this denial of science is ultimately going to come back and hurt us, so i in more all people to please wear masks in public and we know this works and weve got to do a better job being intel it genetic as a community or else were going to suffer from this for a long time. Liz great to see both of you , thank you very much. Thank you. Liz bear market rally or not its a pretty resilient market right now the dow is up 205 points, ross, phil, always a pleasure to have you weve got the closing bell ringing in 49 minutes. Strong rally here, considering n when the market opened which was a big stumble out of the gate. Two covid19 vaccine hunters going global. Providers israel with a vaccine and astrazeneca to sign on to give 400 billion doses of its candidates both stocks moving higher, look at maderna up 6. 8 . This push for a vaccine is still in overdrive as coronavirus cases jump worldwide. Up next, what rideshare via is doing to stay on the road, despite these new spikes in key markets, particularly one of them in texas. The claman countdown is coming right back, weve got the ceo of via, next. I just love hitting the open road and telling people that Liberty Mutual customizes your insurance, so you only pay for what you need [squawks] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Some Companies Still have hr stuck between employeesentering data. A. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. 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Texas has recorded its highest number of covid19 hospitalizations so far during the entire outbreak. In fact, the last six days have brought increasing new record highs. The number of people hospitalized in texas hit a record high, up 2,287 on sunday. Still, the state is moving forward with its reopening plan, and Ridesharing Service via is part of that plan, as it operate s in arlington, fort worth, and one particular hotspot, austin. Vias rideshares compete with uber and lyft around the world operating in more than 70 cities and 20 different countries. Via though has really had the earth move under its feet. Its now forced in some areas to go into a single ride system but during normal times its on demands Transit System was aimed at booking multiple passengers, heading in the same direction into a shared vehicle for a lower cost. I think thats called carpooling except with strangers. Daniel remote is the cofounder and ceo of Ride Hailing Service via. Welcome back, daniel. Thrilled to have you. I dont envy you. My goodness i just said the earth is literally moving under your feet as you try and adjust to every single state and their new rules. What has this been like for you particularly in texas. Its really a pleasure to be back on the show thanks so much for having me and youre absolutely right. I think transportation during covid is a business that is both incredibly tough to be in but also incredibly exciting if you think about what we went through as covid struck in some markets, for example, in new york we saw ridership decline as much as 85 or 90 but in other markets where were providing software to power public Transit Systems all over the world as you mentioned, now nearly 100 different places around the world, we had an opportunity to work with cities directly to really try to help them overcome this crisis. In dozens of our cities we took our service and transformed it literally overnight to focus on essential workers and particularly on Health Workers and other essential employees to try to get them where they need to go, a lot of the times the train system wasnt working any more so thats been a really exciting challenge. In some cases we took our systems and transformed them to help cities deliver food, meals for kids in need, diapers, formula something were doing all over the country and washington d. C. Liz as we look at whats going on in texas though tell me what your requirements are, what the protocols are so that people who dont want to go on buses because theyre too crowded and they dont want to go on Public Transportation other than that are looking to via and saying do you know what . Im going to hail this ride. So in texas we have a very interesting model which is true around the country and we worked with as you mentioned those three cities to provide whats called now microtransit which is something between a bus and a private car. You can book a seat and usually a van and share that van with multiple passengers headed in the same direction. Now, obviously, with covid we had to take certain precautions and make meaningful changes to our system. Weve reduced the number of passengers that can be allowed in each van at the same time, and in some cases down to only two or three, and were obviously going through intensive cleaning protocols both the drivers are cleaning vehicles and we have daily and sometimes more than daily clean ing protocols to make sure vehicles are clean and where possible were asking certainly drivers are required to wear masks and were asking passengers to wear masks to the extent that a state or the city allows that is also requiring. Liz you know, we also have seen that month over month, uber and lyft have definitely seen increases in their rider ship. Tell me what youre seeing on the ground as the states start to reopen . Yeah, so i would say since the end of march is probably the low point as far as rider ship. Weve seen depending on the market anywhere from two to three times growth in that rider ship, as of sort of the last few days so definitely seeing a recovery thanks to the reopening and with that recovery comes some real challenges especially for traditional Transit Systems like buses and trains, as they become over crowded people are starting to board those systems more and more, and if you look at the place like new york for example, we hear consistently in surveys that the number one thing that worries employees about coming back to work is Public Transportation how are they getting to work and this is where we think theres an opportunity as you said liz transportation during covid is really tough and theres an opportunity to innovate and create new systems and new ideas we, for example, have developed a system that allows you to book a seat on a bus. I know it sounds crazy but think about boarding a bus and not knowing how many people are going to be on it during covid. Maybe its helpful to know that there is only a few surrounding the other people so we really think technology can play a huge role in transforming Public Transportation during covid and postcovid into something people can trust again and get them back on the system by giving them certainty that its going to be a safe ride. Liz daniel remote of via, and i told my viewers do you know what . Hes looking at opportunity versus calamity. Thats how entrepreneurs think just like you good to see you thank you so much and we wish you the best of luck as the state that you do business in starts to reopen. Thank you so much. Closing bell ringing in 39 minutes, we do have the dow holding on to triple digit gains up 110 points right now. New coronavirus threat, yes they are popping up all over the globe, but weve got the Company Whose secret weapon, corporations from Delta Airlines to casinos to the nfl are all using to deep clean, as they continue preparations for reopening. The victory of victory innovation, the ceo hes going to spread the message or should we say spray the message, next. The claman countdown is coming right back. At carvana, no matter what car you buy from us, you get the freedom of a 7day return policy. This isnt some dealership test drive around the block. Its better. This is seven days to put your carvana car to the test and see if it fits your life. Load it up with a weeks worth of groceries. Take the kiddos out for ice cream. Check that it has enough wiggle room in your garage. You get the time to make sure you love it. And on the 6th day, well reach out and make sure everythings amazing. If so. Excellent. If not, swap it out for another or return it for a refund. Its that simple. Because at carvana, your car happiness is what makes us happy. I was blessed to be part of building one of the greatest game shows in history. During that time, we handed out millions of dollars to thousands of contestants. And i thought, what if we paid the contestants their winnings in gold instead of cash and prizes . Back in 1976, we had a wonderful contestant named lee whose threeday winnings were valued at 12,850, and you know what . That was a pretty big haul back in 1976. So i wondered, what would have happened if lee had put 12,850 in cash and then put 12,850 in gold in a safe, just sitting there sidebyside from 1976 until now . Well, i went back and i ran the numbers, and what i found was amazing. We all know that 12,850 in cash would still be sitting there, but it would be worth a whole lot less than it was in 1976. But that 12,850 in gold, safely stored away, its worth 135,000 as of the taping of this commercial. Now, thats more than 10 times the original amount. And thats why ive been putting my money in Precious Metals for years, and i dont see any reason to stop now. [announcer] if youve bought gold in the past, or would like to learn more about why physical gold should be an important part of your portfolio, pick up the phone and call to receive the complete guide to buying gold, which will provide you important, neverseenbefore facts and information you should know about making gold, silver, and platinum purchases. If you call right now, you can also receive a copy of our new u. S. Gold report for 2020. Inside, youll find the top 25 reasons why you need to start owning gold today. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u. S. Money reserve is one of the most dependable gold distributors in america. Liz well, Airline Stocks right now are losing some of the altitude they had gained in may. It was so welcome for a lot of people who stuck with these stocks or dove in when they were very very low in the bottom of march but now we have questions flying. Will travelers suddenly get spooked by rising cases . Lets look at some of last months high fliers. United airlines had been just a real winner last month. Its now down just 1. 6 but we can still see that a little bit of red over the past couple of days has been disconcerting. Looking at Delta Airlines we can flip it over to delta we know that despite getting approval from the Chinese Government to actually start flying again and resume flights thursday in shanghai, this thursday, Delta Service in the original epicenter of the coronavirus outbreak has now been completely suspended since february 6 so right now, delta actually it was down, it is now flipped up about half a percent. Well, could it be this device, right on your screen, that were about to show you, that will really calm everybody down and help names like delta get back on chinas runway . Youre looking at the victory innovations handheld sprayer this is a cleaning device, that helps Companies Including delta, many other names, from gyms to restaurant, keep their surfaces squeaky clean, fast and easier. Lets welcome victory innovation cofounder chris garerri. Chris youre sold out am i correct of all of your products . We are sold out for next couple months, liz but we have product coming in on a continual basis now. Liz i mean, your handheld is about 700, and then youve got the one that looks like a backpack which is what were se. Those because they can have more of the actual spray that goes in there. Those are 1,750. Where do you manufacture these and can we speed up the supply chain . Yeah, absolutely, liz. Its amazing we started this Company Seven years ago, weve been shipping product for four years, and just getting product here as fast as we need to has been a major challenge. In fact just yesterday we landed a 747 cargo plane that had 14,000 sprayers on it ready to get out to distribution as fast as humanly possible and our backlog has been in existence now since about march of this past year, but we continue to bring in a stream of products our demand has literally gone through the roof and were shipping more than 10 times the amount that we normally would in this time of the year. Liz all right and i just want to let our viewers note. We suddenly lost steam on the dow were now up 74. We had been up 200 within the last about 10 minutes so were keeping an eye on that but chris explain to our viewers, how it actually works, because you know, you now have the contract with the National Football league. You do have delta and some gyms i know, and some restaurants, but how can you promise me if i were to invest in one of these things the coronavirus is not going to live on surfaces . Well to be honest with you, liz, the whole premise is that if you walk into a facility and it looks clean it must be safe. We now know theres a difference between a surface being cleaned versus a surface being safe, want we do is we allow people to spread disinfecting chemicals better than anybody in the world and we do that because when you spray a chemical through our machine, we electrostatically charge those particles and make them all positive so think about your science class back in high school and when you have the same charged particles coming out of a sprayer they dont want to land on each other they avoid each other, so they hit these surfaces with a real thin coating which allows the chemical to do its job and kill any germs on that surface. In fact, if you spray things like a dumbbell in a gym, because they keep looking for clean surfaces they will literally wrap themselves around the back side of those dumbbell handles. We really just provide a way to get 100 coverage on the surface liz youve got a list of big name travel clients. What other sectors . Youre hearing i would imagine from the casinos. Casinos were very hard hit you think about touching chips and dice and oh, the tables and everything. I mean, tell me what you can do for the Casino Industry . If you think about axio got thousands of touchpoints from the machines, to the railings, to the cars and the restaurants to the cars and the Service Contractors are walking into casinos with our backpacks and literally spraying every surface in the entire location. From things that you would touch with your hands to where youd walk to where youd sit for dinner and literally as people leave those machines they will go back through and re spray them and the amount of spray that they put on there, depending on what they are trying to kill itll dry somewhere between 310 minutes so that machine or that hotel room could be used basically immediately after one guest leaves and they are getting ready for the next guest to come in, but its not just casinos. Delta airlines came on board right when this pandemic struck and weve all known that airplanes are a little bit dicey and we all try to get on there and wipe down the areas around us but now its going between every flight and disinfecting the entire un airplane. Its phenomenonal. Liz chris youre doing great work i hope you get that product back in because there are a lot of people who want one of your sprayers right now its great to have you. Thank you so much. Thank you. Liz chris gerreri of victory innovation. He cofounded it years ago without knowing there was a pandemic coming. Big move. Closing bell were down 28 minutes away nasdac up 100 points what happened to the dow . Were up 11, we had been up at the highs, 286, but remember, we had been down 762. So, the topsy turvy action i mentioned at the top of this hour is still in play, but we may be about to turn negative for the dow. The days of spring down your packages may soon be coming to an end as contactless and reduced human contact Packaging Solutions have taken over. Bubba wrap giant sealed air, the ceo is joining us next on their brand new contactless technology. Its a fox business exclusive on the claman countdown oh, yeah and the stock has been on a tear quartertodate. There seems to be a massive disconnect between. Whats going on in Corporate America and what investors are believing is going on in Corporate America. The message to you dont trade because you think youre gonna to get rich quick. Because you. Liz we are just getting this breaking news in plume berg news has just reported that jpmorgan will plan for half of its traders to return to the office this july. The Investment Bank had already started bringing back workers in hong kong and israel but the big question is what about here in new york, and these u. S. Operations . Again the new news is that they will be bringing back 50 of their people when they reopen in july. All right, Dow Jones Industrials for a second there when i hate being right, it did turn negative by about 37 points, so were back up two points now in the green. How is this for an airtight plan sealed air. This is the company best known for bubble wrap and cryovac Food Packaging is going all in on a touchless contactless future as humantohuman contact remains the threat in the age of covid19 and the changes sealed air is making to insulate its business could revolutionize the entire Consumer Packaging industry. Lets find out how. The ceo and president of sealed air, ted doheney joins me now in a fox business exclusive. Great to see you ted ive wanted you on for so long because this is a fascinating business that is very tightly intwined with the online orders and the Food Industry but tell me exactly what you mean first about touchless technology. Great first of all its a pleasure to be here with you, liz touchless really connects to automation but touchless also defines keeping people out out of harms way whether its a Meat Packaging plant where youre putting meat into a package where you see it on Television People are close together putting that meat into the packages to a high speed Fulfillment Center thats literally shipping thousands of products. So what the touchless means is how do you keep people out of harms way and bring automation. What automation means to us is equipment with the service and then the material to do that the most efficient and Sustainable Way possible. Liz ted, im looking at what you just showed when it comes to the actual robotics i didnt see a single human there and i dont know whether to be encouraged or kind of devastated by that. Does that mean that theyre going to be jobs lost . But i get it. We saw what has been happening with the chicken and beef processing plants where this is an aerosoltype of virus. It comes out in particles from people breathing and therefore, youve got to keep people away from each other in the distance there. Correct, and it actually, it can take people out of dangerous areas, so our packaging today is going to be actually talking to those robots, talking to cobots. Even the Grocery Stores as we move toegrocery. So the issue actually with most of our customers its actually labor shortages so weve been actually before the virus hit, they could get people, so in the Packaging Industry its actually been a labor shortage, getting the right people there, so we were ahead of the curve we actually made an acquisition last year to better prepare us for this coming. Liz do you have any insight, you know, i was thinking because weve been the king and queen here at my household of deliveries, and everything comes in bubble wrap and you guys are the king of bubble wrap ped. Sealed air is exactly what it is do you have any idea what is the true driver here for that part of your business . Well its actually the efficiency of the packaging space. If you think about the mailers that you get home that literally , theres hundreds of millions of mailers that we produce and others, and i wish we were the only ones, but were not, so and what that did is actually eliminated boxes, so as the world is becoming your home is becoming the store so you dont want stuff all over your house. You want the minimal package, which is air, in the bubble wrap , is a great source. Very minimal amount of material, and it preserves the product, protects it, and puts it a little around the package, actually, a bag, so thats really whats driving. The presentation, the store front is going to be your home. It already is and more of that to come. Liz yeah, im a big tree hug ger, greenie. I like recyclable products and its always bugged me to think about bubble wrap, whether it was from the past or today that we see that isnt recyclable. How big is your recyclable bubble wrap business growing . Great question. Actually, me personally, and joining me ive been in the industry now for two years. Weve actually joined the alliance to end plastic waste. The issue with the waste is we dont want to put the stuff in the ocean. I was actually in the ocean with the Research Vessel seeing this problem, so were attacking it. Were actually putting sustainability first and foremost. Were actually driving the circular economy, creating bubble wrap now from recycled content. Were going to make our 2025 pledge in eliminating the plastic waste, so youre seeingd content and some pretty interesting things on the recycle front that are still to come. Liz ted, i know you wouldnt do it if it werent good business, congratulations and thanks. The stock by the way for our viewers is up 25 quarter to date. See you next time, ted and thank you very much. Great. Liz closing bell we are ring ing in 17 minutes, weve been watching the dow its kind of jogging back and forth, toggling up and down on the flat line. Were up right now by 23 points. Cruise lines may have stopped sailing in midmarch after dozen s of ships you guys knew this they reported major coronavirus outbreaks, but did you know thousands of cruise workers are still, months later, trapped at sea . That story, and you need to hear it, coming up, next. We could never do what they do. But what we can do it be a partner that never quits. Verizon is the most Reliable Network in america. Built for interoperability and puts First Responders first, giving their calls priority, 24 7. We do what we do best so they can too. Tums ver bell rings la stick when heartburn hits fight back fast. With tums chewy bites. Beat heartburn fast tums chewy bites liz well, many of you remember those dramatic cruise ship evacuations back in march when thousands of passengers were finally released, and they were able to get back on dry land after being quarantined in their tiny cabins for weeks. Well, thats all very nice, but it turns out many cruise line Staff Members never got off. In fact, theyre still trapped on the ships. How many are you talking about . Are you ready . 40,000 cruise ship workers are still stuck at sea due to the coronavirus concerns. This is three months after the industry shut down in mid march and reportedly these workers arent getting paychecks cruise line stocks are hitting rough waters today after a pretty decent move upside last week we have carnival, norwegian , Royal Caribbean dropping a little bit here and there as we look at fears of this coronavirus second wave but what does that really mean for those workers . Makes it far less likely the cdc and International Authorities will allow workers to disembark or for that matter, let ships take off with passengers in late summer. We shall see. All right Dow Jones Industrial is up 55 points from charlies tweets to the markets ears could the recession already be over . Charlie gasparino tweeted the answer to that question. Could be yes, or just about i want to say an hour and 40 minutes ago and with this come back in stocks was the street listening . Breaking news, jay bryson, this is wells fargos chief economist telling big investors here is charlies tweet, that the covid recession likely ended in april, it will take about a year to show in stats. Apparently, called it the shortest deepest on record, unemployment dropped to 9 by yearend, 6 by 2021 some job, however, lost for good. Charlie, jay bryson making a bold statement youve got the news but what if the second wave gets worse . Charlie good point couple things here, he made a comment today to officials at blackrock, the Worlds LargestMoney Management firm so that does have an impact. I tweeted out this around 11 50 the market was red at that point looking like it was heading another leg down and then after that, it did start picking up. The real move in the market came as you know when the fed came out and said that its going to be buying individual Corporate Bonds so something along tows lines and the fed you cant tighten the fed and thats why the markets a lot higher they were in very positive territory for a while and now itll bounce flat, i guess thats what we have now flat . Yes, in that area but here is what we know about what bryson was saying and its fascinating because if hes one of the growing number of economists that are saying that this thing is, you know, as a recession it was really bad, but its essentially over now, and things are going to get better, and thats what he said to blackrock he also said that the blackrock officials he doubts there will be another round of shutdowns, he thinks its too politically unpalletable for governors even in our states even as you have cases speaking, this is something that were going to have to essentially live with and the economy is going to have to deal with. I thought his prediction about 9 unemployment this year is pretty rosy 6 next year, were not going back to 3 for a while which is what we had but this thing did cause massive economic pain but apparently, according to his numbers, and you know hes a pretty sober guy you dont hear jay bryson making crazy, wild announcements, i dont follow every move he makes hes not some sort of radical economist and he has no business hyping these numbers because you do that to a big client like black rock and youre long and youre no longer a big client any more so also whats interesting is the shortest and deepest recession on record, that ended from what i understand, he said that it ended in april or may, and thats pretty fascinating, and it would correspond with some of the fed action, the massive amounts of stimulus that got thrown into the economy liz, this is a good, if this is real and theres a lot of good evidence to show that what bryson is saying is accurate its great for the American Economy and its going to be used if this thing keeps going this is where it becomes economics becomes political. Its going to be used by President Trump as he runs for office. Hes going to say simply this. The country is in turmoil right now. The economy is improving based on my, what i did and how i stimulated the economy, how i pushed the fed to ease, you know , why go to somebody else . And you can make that point because these numbers are, if you listen to the people like bryson, again a pretty modest, middle of the road economist these numbers will continue to get better. Im sorry i cut you off liz, what did you say . Liz i just wonder about these corporate zombies. You know, these are these companies now that have spiked in number where the cost of servicing their debt actually exceeds their profits. I mean, the number of these Companies People should be really careful when they invest because there are a lot of corporate zombies out there and something to think about. Charlie a lot of Companies Like hertz, for example, you know which is in bankruptcy, a lot of them went into bankruptcy because they borrowed so much over the years as donald trump, the president , was jawboning jay powell to keep Interest Rates low this is before any, before covid as early as late as last year, and they got into trouble, when the recession hit, and because they were so into debt but be that as it may its a different argument and hes looking at the overall economy and its Getting Better to his analysis and most mainstream economists i should say, less back to you. Liz good to see you charlie happy monday, thank you very much and yeah, were up 101 points, this is proving to be a very topsy turvy final hour of trade just as we had said. Claman countdown will be right back dont go away. Yeah yyeah yeah hey, hey. Liz all right. Whats going to happen in the next 12 minutes . That is when the closing bell rings. Look at stocks, they are holding on to gains. It has been a whipsaw session. Six 1 2 hours ago when the markets opened we saw immediate follow through from last weeks selloff. The dow fell 617 points. Then, ah, the nasdaq became the first to break into the green. All three major averages now positive. And the russell is also up about 28 points at its low small caps were down 44 points. New individual Corporate Bond buying seems to have lifted stocks. With the dow up 95 points. Get to this story, dow component walmart moving to make a linkage with shopify. Andy katz joins us now. You like only one of these two names. Which is it between walmart and shopify . For me its walmart. I think what the shopify transaction does build on walmarts credibility. Walmart is the second largest ecommerce player in the u. S. Far behind amazon dominant position. It helps walmart build breath, the same way amazon built breath offering more third party sellers. Liz looking at walmart. It is up just a fraction. Andy, give me what the market is thinking right now. It has been a rough day even though were up. It has been a rough day and we are up. I think market sying this Federal Reserve came out with additional [inaudible]. [closing bell rings] another stimulus. Liz every time. Every time the Federal Reserve takes action it is confidence building and liz theres the bell, andy. We got to run. Thank you so much, that will do it for the claman countdown. Melissa volatile day on wall street. Dow swinging 1000 points from high to low. Federal reserve announces it will buy individual Corporate Bonds. Im melissa francis. Connell and im connell mcshane. Welcome to after the bell, everybody. The dow was down at the low of the session more than 700 points. Boy, look at the turn around we had. At one point we were up 280 some points. We closed higher by 157 or so. Now the s p 500, nasdaq also kicking off the