Hour the u. S. Passing a tragic milestone now. 50,000 deaths related to the coronavirus. Meanwhile, all eye ons ts on the of georgia as it tries to reopen well get a live report. Over to you, kelly thanks. First, lets get to bob to wrap up the volatile week we had for stocks and whether it still has legs. It might. The good news is we got the Coronavirus Relief package passed we got a lousy durable goods number just look at what a mix day we got here boeing has been around the dow all day. Its down 15 on the week. That durable goods number was a lot about boeing h home depot, apple, this is all over the place its not a clear direction i think the problemis the rall has stalled out a bit. Have you noticed that . Were down 2 . We have gone nowhere since april 9th. The bears are saying the economy doesnt justify 2800 in the s p 500. Its signaling a bigger slowdown the bulls are insisting the big Balance Sheet companies are doing fine feds on their side theres arguments on both sides. One positive development this week, were final glly getting small caps out performing. Last few days finally out performing down 0. 4 for the week theres one positive development. Were going in the right direction in small caps. Back to you. Georgia getting back to business, sort of. Jim gray to tell us what reopening looks like jim. Reporter this strip shop center really at the center what is the controversy here. I want to give you a look. Its nail salon down there a gym right behind us. You have a hair salon. Even a chiropractor. These are all places open now and places where its very difficult, almost impossible to maintain social distancing a lot of people fearing they are getting back to business too soon the numbers show they havent reached their peak as far as infections as far as covid19 are concerned. One model shows it will reach its peak in georgia some time late next week have the businesses have been open for a week theres a big concern about spreading this virus at a really quick pace by opening these businesses onthe other side of that, you have the governor here and some Business Owners who decided to open up who say they are desperate to move forward here and they can do so while maintaining safety the rest of the country watching this area very closely right now to see how it all plays out. Its something that a lot of businesses are dealing with. They are saying, were not going to open. Its too early well wait a bit the real question is, will consumers come out will they come to these establish ms we have seen a few people working out today. Seen a lot of people getting their haircut and even people going into the chiropractor. It look likes some are taking advantage of the eases restrictions here. Tyler. Jay, let me you a question. Are the businesses that have reopened limiting the number of people who can come in reporter it varies theres no mandate a barbershop said they are taking one customer an hour. They are cleaning up immediately and sanitize equipment you have gyms that have three or four people in but they are separated in different areas it really varies by location jay, thank you very much. President trump signing the second round of ppp funding a short time ago weighing in on everything from the post office to the oil and gas industry to the airlines we have the highlights reporter when the president signed that half a trillion dollar package he made a slew of head lilines clarifying he was sarcastic when he said yes people could ingest disinfectant to kill the virus. He spoke with the ceo of apple who said he believes it will rebound. He said the treasury is working on a rescue of the Postal Service and washington looks for ways to help the oil and gas industry President Trump suggesting that the government could step in as a customer the administration could buy four to five years of Airline Tickets and allow consumers to fly at a fraction of the costs going forward. Whether or not the ideas come to fruition it does unz score a debate is once you get money in peoples hands as some of these earlier stimulus packages have done, how do you get them to spend it people are using the money towards groceries, existing bills and paying their rent. The administration wants the see the economy return to growth how do you get people to buy travel tickets how do you get them to buy cars and its unclear how they will get them to do that. You can tell the president is really thinking hard about it. Kelly. Thank you tyler. Stocks may be on track for the first losing week out of the past three after those couple of very steep down days they are picking up a bit of steam. The s p having its best month in nine years as we get ready to kick off another busy week of earnings, where do the markets go from here jim is cio of concentrated growth at alliance and ron is a cnbc commentator ron, let me start with you as we get into earnings next week, theres a lot to ponder. A lot of guidance that will get stated, restated or not stated at all how concerned are you . Im late l concea little cone market hasnt rebounded. We have gotten bad economic numbers across the week. Today the market is looking past it were coming on unemployment report i still think we have a lot of numbers to get through and the earnings and various Forward Guidance and estimates well get. Im a little concerned im concerned this reopening of some states may lead to a relatively quick set back and that would be a disappointing to the markets as well leaving them at risk for the next couple of weeks, at least. Jim, you think were on the edge of, i wont say the great rehiring but of some rehiring. How robust do you think that will be in liegts of the fact that i would guess that a lot of businesses, we just heard from jay gray down in atlanta, they are watsing for customers to come back. If the customers dont come, not going to last long i think were at the very beginning of this he hiring and stores are opening when stores were forced to close, everybody got laid off. If you trickle back in and you hire half your staff and then a week later you hire 75 , those numbers will build when you look at the unemployment claims going forward, we probably have seen a peak there the continuing claims might take a week or two for the data to flush out. Youll see continuing claims go down you also saw the stimulus checks and people started sending just last week. As we see the daily data over the week, well see another up tick in spending i think the worst is behind us. You have cogent arguments for both of them my wifes favorite store, homegoods. Make the case those are positioned to do well. I think there are two big factors. One is what will the customer buy. I dont think she makes the huge purchase but buying from tjx or ulta are those little luxuries that are affordable. Secondly, we heard some news today about jcpenney, the competitive situation is changing rapidly Companies Like tjx and ulta will pick up a ton of market share from the weaker competitors. The winners get stronger, the weaker get weaker or go away ron, quick answer jim sounds a little more sanguine than you. Yeah, no doubt. I just think we have too many hurdles. I think this will take too long for the market to fully put in an investment bottom not a tradeable bottom i think when you talk about a jcpenney, that means more job losses we may not be over the hump. This is ultimately going to go away i think theres too many hurdles in the short run to get overly excited about what the stock market is doing other than the fact we know the fed is a permanent backstop and may limit some of the losses thanks very much. Thank you for your time and insiegts today we appreciate it tyler, thanks. Lets get a check on todays bond action now. Rick is watching things for us over at the cme. Rick hi, kelly if you look at one week of tenyear note yields, were unchanged on the day we spent a lot of time many the 60 basis point camp. We scraped along at 54 basis points if you pair it up with kruds oil this week, the june contract, you can definitely see it was paying attention especially on some of the downdrafts if you do year to date, you could clearly see what im talking about. Were really running along the bottom of what has been an area of consolidation in the 60s. Many think were still going to test that 54 basis point low and do keep in mind we might all have georgia on our mind today but next week what well have on our minds are central banks. Whether its the ecb, the bank of japan or our central bank especially at a time where the ecbs have an issue with stimulus and our central bank might be floating the idea of negative rates. We all want to be watching really close the dollar index, if you look at this chart since march, you can see the big hump on the left hand side. Its a whisker under 103 were getting close. It was the highest in three years. Were only a couple of cents away at a threeweek high now. Kelly, back to you have a safe weekend. Thanks so much. Coming up, its no secret that dozens of larger, multidollar companies severed money to vhelp Small Businesses. As we ahead to break take a look at the leaders on the dow today. Home depot tops the list apple and any knike are up thers well were back in two minutes. At leaf blowers. You should be mad your neighbor always wants to hang out. And you should be mad your smart fridge is unnecessarily complicated. Make ice. Making ice. But youre not mad because you have e trade which isnt complicated. Their tools make trading quicker and simpler so you can take on the markets with confidence. Dont get mad get e trade and start Trading Commission free today. Welcome back, everybody. Its been three weeks since the launch of that famous Paycheck Protection Program it comes the light that multibillion dollar businesses now have gotten some loans the sba has now barred among others, hedge funds from the program. Robert frank has those details and a look at a billionaire who took millions of dollars in loans. That billionaire will join us shortly to discuss that. First, lets get to indicate rogers with the latest numbers and what to expect as ppp round two opens next week. Kate we know 1. 6 million loans ate up the first round of 350 billion in aid in less than two weeks and the next set of aid is expected to start to be out on monday many banks are saying that businesses that applied last time but did not get aid are still in their place in line the Consumer Bankers Association warned the money may already be spoken for before this gets up and running due to demand. Theres some 30 million Small Businesses and estimates has been as high as 2 trillion for what will be enough to help them all in this time how will the 60 billion thats been designated for smaller institutions be allocated . There that be monitored in realtime or with an Automated System guidance issued in the last two days on Larger Companies and limiting their access and hedge funds being ineligible points to the government seeking to ensure it makes into the hands of Small Businesses many businesses are really eager and anxious to see if they do access that aids this time around back over to you im sure. Thank you. Lets get to robert frank who has more on the sba barring hedge funds from loens and also just for the Public Companies and the backlash against all of this, this money was intended for Small Business has caused the treasury to issue new guidelines yesterday effectively barring Public Companies companies now have to prove the funds were necessary and they had no other sources of funding in order to get these funds. Companies have until may 7th to return this money if they cant prover they meet the standards shake shake and ruth green have all returned their money it has yet the make any announcement about whether it intends to give that back. Guys robert, stick around. Joining us is the founder and ceo of nikola motor. I guess the microphone is yours. Yesterday you said we got over 4 billion in the ppp program. We got thousands of people wantsing to kill us. We got it accurate today we got robert had that right from the beginning. He said four million we had a graphic on the screen with a b and were really sorry about that what were you saying its okay ultimately were a Small Company. A lot of people think were publicly traded. Were not. We have 350 families we employ and were locked up in maerjerg. We cant go to the Public Market or private shamarket to tell shares a lot of the information around us was really misinterpreted were a Small Company employing 350 families a lot of value but its all on paper. Its not like cash im happy to answer anything i can for you. Youre keeping the bottmoneys the bottom line. Fair of not. Here is what people will say theyll say you have a 30 million luxury ranch in utah why take public funds . Why not use your own capital kind of laugh at that im not a billionaire. On paper but i cant access anything i have ahouse. Really nice ranch in utah. I took a mortgage on that. I cant go Access Capital for it i cant sell it. I cant use it theres literally nothing i can do there i feel like some of those things are headlines to get people to hate each other. Your headline is were all in this together. Ive literally gone out and done everything i can i started selling my personal assets to help people in our community. I cant mix my personal furnnds and company fundss i dont have the money to pay for that payroll protection. Robert, go ahead. Here is what i dont understand your company has a valuation of 3. 3 billion yes, its on paper as part of this deal, youre getting 500 million in funding from fidelity, value act and others its hard for me to believe a Company Worth 3. 3 billion plus 500 million more coming in cannot go to jpmorgan or a bank and get a 4 million loan. Is that the case what it comes down to is this payroll Protection Plan was specifically put in place to help take away the volatility and make sure we dont furlough or reduce the payroll of these people during the merger, were really locked up under strict guidelines i cant even hardly talk about it because its the were signed up with the merger. Were waiting for that to go through. This virus has thrown a complete chaos everywhere in the market we hope the merger will go through. The government shutdown, every one shut down. Were trying to make sure our employees are paid one thing people didnt report on is not only have we kept every payroll for all 350 families to make mortgages and we have been hiring people laid off by other companies what we told the government is helps out. We would rather they come to a company like ours thats hiring these people than put every one on unemployment. Trevor, Tyler Mathison here i want to come back to the spirit of roberts question and the expressed spirit of this program has been that is to help companies that have, as the pppe the second traunch of money that has no other asset to capital would you maintain you have no other ready access to the kind of capital you need . It would be very difficult since were locked up in the merger we have to refile. It would be a complicated thing to do anything this nikolacreated for. Were a Small Company. Were 350 people were one fifth of what is considered Small Business. Were a Small Business were not only paying these people but were hiring people thats what it was really made for is to help get this market going again and its been kind of interesting to see people attack us because i have a label as a billionaire doints have billi i dont have billions of dollars. I dont have the money to cover the ppp. Theyre attacking me like im flushed with billions of dollars. Were all in this together we have to start promoting people and be happy were hiring people that are laid off i can give you thousands of resumes of people begging us to hire them. Im doing that with the ppp money. I understand youre in this weird merger situation that prevents you from going out in the market still have hard time believing you cant get 4 million from a bank or value act that said on our air just last month that youre a 100 billion dollar company. What do you say to all these Small Business, these mom and pop restaurants, these salons, these lawn care workers that really have no other future for money right now, for cash . What do you say to them when they look at you getting this money in. That is really fair question. I answered that a lot. Here is two things i would say this is my Fifth Company ive had three of them succeed and two of them fail where i lost everything in my life, including my house, my car i even sold all my guns. Everything i had, i grew up in ranches so we have guns out there. Theres no one that knows more what they are going through than me no one has gone through five companies and lost two of them and gained three of them im a true entrepreneur. I would not take this money if i did not feel like it was for the right situation. Here is the second point i would make we apply to this based upon what the government set up as specific requirements. They said you need to be a Small Business it needs to be something that is theres difficulty of getting access to capital out there in the other markets theres a whole list of things we fits every one of these criteria we did not prevent the Small Companies from getting the money. Thats what they need to know. The government qualified us. I did not deny their loanloans a lot of these Big Companies took millions of dollars those are the people that should not have done it those that have access were not. Were privately held, locked up in a merger. If theres anyone out there that needs help, im happy to give advice ive personally been there all right thanks for joining us. We appreciate it sounds good thanks i know its a lot as well robert frank thank you for all your reporting on this again, our apologi