A lot of people say we were due for for selloff and people taking money off the table. The nasdaq ending in the green and positive territory for the years. In a few hours President Trump an medical members of his Coronavirus Task force will hold a News Conference at the white house. Well bring you any headlines from the president this hour. Fox Business Team coverage. Kristina partsinevelos on floor of new york stock exchange. Phil flynn is watching the action in oil and gold at the cme. Edward lawrence is on capitol hill. Blake burman at the white house. That is a lot of people. Well start with blake. Reporter melissa, we heard from the president he would be having a News Conference as he put it at 6 00 tonight. However we learned from the white house moments ago the president will be joined with members of the Coronavirus Task force for a News Conference at 6 30. Will do it in the brady Briefing Room. If that happens, that will be a first for the president , stepping into the Briefing Room and taking questions from reporters. We expect that 2 1 2 hours from now. I am told as it relates to that 11 00 a. M. Call, that the cdc had yesterday in which they said that there was near term risk to the u. S. For coronavirus but down the line eventually there could be community spread, that President Trump was a bit frustrated with the messaging from the cdc in that call. We will be able to hear from him directly a couple hours from now as to exactly where he thinks everything stands with the coronavirus. In any event earlier today, the head of the top doctor for Infectious Diseases for National Institutes of health this would be his message, at least the message he thinks the president should deliver couple hours from now as it relates to coronavirus where everything stands right now and going forward. Watch here. At the present time things are under control here but realistically, we need to be prepared for the possibility and maybe likelihood we will see more cases here. The degree to which we can contain them will determine the impact on the country. Reporter meantime up on capitol hill there is a bit of discrepancy how much money should be spent or requested on battling the coronavirus. The top democrat in the senate, Chuck Schumer today, said his figure would be 8. 5 billion, however the Top Republican in the house, Kevin Mccarthy said it probably should be half of that, 4 billion. Here at the white house they have only requested 2 1 2 billion dollars. Senior Administration Officials tell me they believe at the moment that number is exactly what they need, 2 1 2, speaking of hours from now, President Trump, the Briefing Room here with members of his task force. Back to you. Melissa all right. Thank you. Connell now more on that reaction from congress, alex azar, who is the health and Services Secretary testified today before the House Appropriations subcommittee on the outbreak and Edward Lawrence is on capitol hill to bring us up to speed on that part of it. Edward . Reporter house members were pointing to that centers for Disease Control comment a matter of when it spreads to the United States. They were talking about that in their hearing today. The World Health Organization saying there is a hot spot, that new cases, more new cases actually happened outside of china than happened inside of china. That is for the first time going forward. Now these milestones have investors worried as a further spread could affect supply chains in china but also threatens europe as italy become as hot spot. Health and human Services Secretary alex azar clarifying there is no light between the administration and cdc that the full threat that the coronavirus poses . We fully expect more cases in United States. We have to be mentally prepared and as a government prepared today. Reporter house members seemed concern about the fact that 2. 5 billion may not be enough money. For example, congress appropriated 7 billion in 2009 to fight h5n1 in the u. S. They are working on a 8. 5 billion plan that would not divert money from the ebola prevention fund. Republicans agreed that more money could be spent. If he ever have an Ebola Outbreak inside of the United States it would be devastating. So i just dont think we should be pennywise and pound foolish on that. I hope we protect that funding going forward. Reporter lawmakers are looking the way this is spreading going forward. Concern there could be shortages of medical devices and medical supplies needed like those masks. Azar saying that isnt the case right now but again, Congress Wants to make sure there is enough money so that doesnt happen. Back to you. Connell Edward Lawrence, capitol hill. Melissa lets go to Kristina Partsinevelos for the feeling on the floor today. Kristina, what are you hearing . Reporter there is a lot of jittery movements. The fact the market has been down more than 500 points today, you have the drip, drip, i keep using that. One of the traders tell me something hits wire, 83 cases, 8 cases here, minister of health in germany are using words like epidemic and pandemic, when you throw these words out into the world and media you have reaction with the algorithms. Then all the traders start chitchatting about it. That added to some of the intraday selloff towards 12 p. M. Eastern time. Then later on in the day. We saw movement into the safe haven of those that are trying to risk off, take off risk, more specifically government bonds. If you look at 10year yield, prices do move in the opposite direction of yields and yields hit an alltime low of. 1. 304 . Youre seeing movement into risk off type investments. Look at leisure stocks. These are more consumer facing analysts are looking for opportunities of growth or saying you should sell off because more people are staying at home. Look at these stocks. All these are ones that you have to go use. You have to get into an uber. You have to get into a lyft. You have to go into a movie theater. Perhaps if the coronavirus gets worse we wont be using it or working out at planet fitness, instead working out at home. I will end on biotech winners. Most have to do with the vaccines theyre creating or their own drugs, having to do with the coronavirus. You can see codiagnostics up 106 . Moderna working on vaccine. Theyre all trading higher much to do with the coronavirus. Back to you guys. Melissa thank you. Connell talk about this a little bit. Strange environment to try to invest through. Jonathan hoenig joins us, capitalist Pig Hedge Fund founding member. Scott martin, kingsview asset chief managing officer. Both fox news contributors. More, scott, seems like behavior Human Behavior component, instead of reaction on the virus itself give a long island example illustrates the point a little bit. Today in new york officials came out hey, we have 83 people were monitoring. None of the people were looking at have the virus we know of. Everybody we tested are negative. But were keeping an eye. They have been to china. We want them to stay inside for a while. On that, kristina says, the market sells off. People might not go out as much but behavior, reaction to the story even if it is not a big story becomes the story. How do you work through it . I work through it similarly how i did on my way over here. I was coughing on the way over on the street frankly like i had the virus. It was weird they almost crossed street because i had something in my throat. These days which occur every year, we have pullbacks on average once or twice a year, these days feel a lot worse than they really are. As humans we forget about these times and only remember the good times when the markets go up when in reality these days come, a part of a healthy market. You get lower prices, valuations return to proper levels and we move on. Frankly think we have companies with good valuations that should be started to be picked up as buys. Connell buy the dip mentality. Jonathan, what are you saying . Connell, scott is right, it seems a ridiculous a report of a few more people being observed could lead to 100 or 200 point selloff in the dow. Thats the environment were in. Less than half stocks are above the 200day moving average. What does that mean . Quite simply the trend is down and in a downtrending market it doesnt take much to get the trend continue. We saw 1000 points lost. Another thousand. Another couple hundred today. Im not saying this isnt an opportunity on your context but right now there are a lot of falling knives in this market. Melissa coronavirus misconceptions as this advances people dont know what to believe. We have the dr. Amy phillips, Vice President of prove dense state joseph health. She oversees medical care for the network that saw the first u. S. Coronavirus patient. I understand there were four quarantine patients from the affected cruise ships in your system. First of all how are they doing now . Everybody is doing well and stable. Thanks for having asking. Melissa it is a scary time but i wonder if people are getting too scared. First of all what is the difference between the coronavirus and the flu virus . Theyre different families of viruses. The influenza virus and the coronavirus are both viruses like staff and strep are both bacteria but theyre different species and behave slightly differently very similarly but slightly differently. So they do things like respond to different drugs which is part of the issue were having today. Melissa so the reason why, we keep making this comparison to flu, we lose so many people to the flu every year, people ask why is this worse than the flu, why are we more panicked . Because we just dont know how to treat it as well, or we dont know as much about it . What is the difference . Partly we dont know how to treat it and partly it is because it is a novel virus it is not a small variation on a prior existing one. We dont have a lot what we would call herd immunity. We dont have people in our communities with antibodies to it. For everybody it is a new virus. So just the potential for it affecting more people. Melissa purell and hand sanitizer, does that work . There is run on it in someplace. It actually does work. Great to wash your hands and use soap and water but that knocks off bacteria there. The alcohol based sanitizers kill the virus own your skin. They are a good option unless your hands are visibly soiled. Use soap and water. They are a great thing to use between going to the sink. Melissa what about face masks . Should everyone carry one around . They are sold out in so many place. They are sold out in so many places. They are not great to use for everybody, every single day partly because the supply is absolutely limited like you were saying. We dont have great access to more of them. For people who have coughs, sneeze, are spreading their droplets around, we want them to be using face masks, right . We want to preserve them for Health Care Workers who have to take care of sick patients to stay healthy and on the job. Melissa what is the biggest misconception youre hearing . Hearing lots of misconceptions. There is a kind of a factfree zone going on in social media at the moment. So cover your cough. Cover your hands. Dont believe home remedies. Stay away from social media at the moment. Stick with tried and true vetted real information sources. Dr. Compton phillips, thank you for that. Thank you. Connell Quick Reaction from scott and jonathan that have been listening along, our nonexperts in the medical field have to be experts making investment decisions. Is that helpful, jonathan . Calm look at things . The same advice were dealing with the common cold or whatever it may be, what do you say . Im heeding that advice, connell. Especially oh, my gosh. When it comes to hand sanitizer. I wondered why that was in there. No matter where you live in the world, connell, for investors enumerable Large Companies in china, middle east, europe, having swarms and swarms of staff impacted by the terrible virus which is growing. In fact so much information as the doctor mentioned has not been forthcoming from nationalities and countries worldwide, part of reason youre seeing panic. Connell quick, scott, you want to share some ideas you have on buy on the dip stuff . Those great ideas i saved for you, connell. Looking at market dips, oversold conditions and how big volume is absolutely gigantic. Look at macd. Moving average convergence divergence. I did not make that up, that really exists. Those are brown out of the water with respect how far down they are. When market bottoms are put in. Connell im sorry i asked. I warned you. Connell scott, jonathan, appreciate it. Melissa oil extending its slide, 13month low. Phil flynn on that. Go. Were concerned about demand and what were seeing right now, melissa in the price of oil. Were following the stock market a little bit. When President Trump said hey well talk about the virus today the oil prices really rallied they got higher on the day. Later in the more coronavirus concerns caused the prices really to dip to the lowest level we saw since late 2018. What is interesting about that, we got a report from the department of energy that really shows you a snapshot of demand destruction. The demand for jet fuel is 8 lower than it was a year ago. So were really seeing real demand destruction in those numbers. It is not just about fear. For fear you usually go to gold. Not today, not the last two days. There is a lot of concern on gold that consumers will stop buying gold because theyre concerned about the economy. There is also a lot of talk that people are losing money in the stock market have profits in gold are taking their profits on gold and trying to put them in bonds. So it has been a crazy day. Who knows whats next. Back to you. Melissa phil, thank you. Connell so empty streets overseas, that is where the Economic Impact has been real. We have growing list of u. S. Colleges now canceling study abroad programs. So as virus continuing to spread. In fact well talk to one u. S. Student studying in florence about the risks, the struggle to get back home. Melissa plus unauthorized access to billions of photos. Details on the massive breach that put one companys entire customer list at risk. 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