At us, we are at number four. The president , the Speaker Pelosi and treasury secretary mnuchin, they are all on board with a grand infrastructure plan. Leader mcconnell says hold back for now, but it sure looks like a lot more spending is in the works. After all, we are all big spenders now, arent we . Look at the markets. Responding to the jobless numbers and the possibility of more stimulus. The dow looks like it could eke out a small gain of maybe 70. Nasdaq up 17. S p up maybe 10. A fractional gain for stocks despite that jobless number. Look at the price of oil. Up sharply today. The president wants a deal with the russians and saudis and he will meet with Oil Company Executives tomorrow. The oil price this morning is up to, okay, up to just 22 a barrel. Got it. But its higher by 9 . The price of gasoline, look at this, keeps coming down. 1. 97. Thats the national average. In oklahoma, hard to believe, its all the way down to an average of 1. 51. Thats oklahoma. On the program today, the april slump, big spending to get us out of it, the democrat president ial campaign totally sidelined and at this moment, 280 million americans are ordered to stay home. Lets get to that jobless number. Bring in art laffer. He joins us now. Art, that was a very big number, 6. 6 million. Is it possible that we are getting all the bad news up front, a gigantic jobless number, and maybe we can bend the curve as the month goes on . What do you think . Well, it is true, you are getting a lot of jobless numbers. Im not surprised with this number. I thought last week should have been about five million instead it was 3. 3 or something. But i dont think we are moving everything up front, frankly. I think this is going to be a lot worse an economy than people think it is and i guess just from my standpoint, i think the stimulus plan that the president and congress has done will hurt the economy, it wont help the economy. It will make the recovery slower than it otherwise would have been which is really a shame and its going to increase debt besides. Stuart hold on for a second, art. Im with you. I understand the worst is yet to come in april. Let me sideline for a second and go to ashley. Ashley, look, im told some companies are lowering their contributions to 401 k s. I dont like the sound of that. Ashley no, suspending or reducing. Remember when this happened back in 2008 during the financial crisis and now we are starting to see it again. We have amtrak, lazeboy, the travel Company Sabre made the move, marriott is suspending their 401 k contribution until september. We understand macys is doing the same thing. Many companies are doing this because they need to save cash. Lets be honest. We dont know the full Economic Impact of what this virus is doing but we have a very good idea that its extreme. Just one point. Back in 2008, 20 of companies who had 1,000 employees or more either suspended or reduced their 401 k matching contribution so this is something i think we are going to see more of as we go through the coming weeks. Stuart on top of the jobless news, the news that maybe some companies will suspend or reduce 401 k contributions, thats not good news this thursday morning. I want to get back to art laffer briefly. Art, we do have, i think, a fourth stimulus plan, rescue plan, call it what you like, its coming at us. You dont think it works . You dont think we should do it . No, i dont. As you know, im the biggest fan of this president ever. I think hes been the best president so far in the last 50 years. I mean, really, im a huge fan. But this stimulus package will make things worse, not better. What we need to do is let people who work and produce keep their income, not have the government take it, and by putting that stimulus package in just like in the 20082009 period, and in the great depression, it will make the economy worse, not better. Assist i don stuart i dont get it, art. I dont get it. I dont see how massive spending, we are talking trillions and trillions and trillions of dollars, i dont see how that does not put a floor under the economy. I dont see how it hurts the economy. You explain it to me. You tell me how spending all of this money actually hurts the economy. I will. Government spending is taxation. Government doesnt create resources, stuart. They redistribute resources. Whenever the government spends 1 trillion, it takes 1 trillion from workers and producers who otherwise would so Government Spending is taxation and as such, Government Spending will reduce the growth rate of the u. S. And will hurt the economy in bad, bad times. Now, when we are rich and prosperous, Government Spending is perfect then because we can afford to take resources away from producers. But right now, we need to be the fans of producers, not the fans of consumers. Im very sorry, but thats what has to be done now. We need free markets more than ever. Stuart all right. We hear you. You are very much part of this fourth stimulus package debate. We will hear more about it later, thats a promise. All right. Now, i see boeings stock moving this morning, moving up. At least it was before the jobless numbers came out. Lauren, do you have news on boeing thats i so tee the sk is down. Whats the news . Lauren boeing is offering early retirement packages and buyouts to workers. This is its latest move to save cash. They have about 150,000 workers so far, have laid none of them off but now they are offering those packages if workers want to go. Stuart well, it adds on to the story about Companies Need cash so some reduce their 401 k contributions. Boeing trying to save cash, offering that early retirement. Its very interesting how Companies Across the board are just desperate for cash. Okay. Boeing just tipped to the upside, 130 a share right there on boeing. Market watcher scott martin is with us this morning. Scott, i see dow futures still showing a very small gain. Is it possible that all this bad news in the month of april is actually baked into the market already . I think a lot of it is but as you were talking with art laffer in the previous segment, theres more bad news to come. So the market knows the bad news of today and i think its assuming obviously things get a little bit worse here, but my concern is as you guys were talking about these stimulus programs, i mean, do they really grow the economy, do they really end up creating jobs . The answer is most likely no. Do they restore confidence in the system . Potentially. So thats one step. But eventually weve just got to get the economy back and going and firing on all cylinders. That comes with ending this virus and getting treatment. Stuart look, throughout the show today, i want to look to the other side. In the depths of our despair in april, i want to look to the other side of this virus attack on us and ask you and other market guests what looks good to you. When we come out on the other side, what kind of stock, what kind of company, which company, looks good to you . Im still sticking with tech. Microsoft, amazon, facebook, just because they have strong Balance Sheets, very good revenue growth. In fact, microsoft [ inaudible ] this environment and sticking with those companies that are going to come out of this a little better than some of the retail or hospitality stocks. To me, if you stay with tech even through say the next market selloff, if there is another downturn, i think you will come out much better than selling out now and trying to get back in at the bottom. Stuart stay there, scott. We will bring you back when the market opens. I notice we have just inched into the red for the big tech stocks and for the dow industrials. Crude oil is still up a buck. Look at that price. Listen to the president on whether russia and saudi arabia can make a deal. He had this to say. Roll tape. I think that russia and saudi arabia at some point are going to make a deal in the not too distant future because its very bad for russia. Its very bad for saudi arabia. Its very bad. I mean, its bad for both. I think theyre going to make a deal. You know, the free market is a wonderful thing. Its amazing how it can work. But i think theyre going to make a deal. Stuart ashley, have you got any information on President Trump meeting with oil company ceos tomorrow . Ashley thats what we are told. The head people at chevron, exxonmobil, occidental petroleum, continental resources, basically to give the president an update on where those in the oil industry stand. We know they are hurting right now. Perhaps they will discuss some measures in which the government perhaps can try and help the industry. One of those perhaps being discussed is placing tariffs on all imports from saudi arabia. That could be one. Also waiving that rule that means that when you transport goods from one u. S. Port to another, it has to be on an american vessel. That includes oil. There may be a waiver of that rule. Bottom line, they are going to tell the president we are obviously we cannot survive with oil prices at this level so interesting to see what comes out of that meeting and what, in fact, the government can do to help the Oil Companies get through this. Stuart and encourage the consumption of american oil by american utilities and consumers. That would really help the drillers and frackers in north dakota and texas. All right, ash. Lets get to lauren. News on home depot. What are they up to . Lauren no longer selling those n95 respirators. They are redirecting them, donating them to hospitals instead. So many retailers, including home depot, were criticized for selling these masks when indeed Health Care Workers and those on the front line needed them. Home depot no longer selling them and they are also distributing thermometers to all their workers. Take your temperature before you come to work. If you have something over 100. 3, dont show up. Stuart it really is a national effort. Private enterprise jumping into the fray here. The number of companies which are doing something with gowns and masks and ventilators and respirators is really, its a terrific response. Ive got to say. All right. More on all of this throughout the program. Thats a promise. We will have more on this, too, the markets. We have had those terrible jobless claims numbers, 6. 6 million in the last week. The dow jones average futures now looking down about 90 points. We are going to cover the election, too. Joe biden claims he knew more about the virus threat than the president. Weve got him on tape saying it and you will hear it. Next. You wouldnt accept an incomplete job from anyone else. So why accept it from your allergy pills . Flonase relieves your worst symptoms which most pills dont. Get allinone allergy relief for 24 hours, with flonase. [ applause ] stuart i live in new jersey. You could almost hear those cheers across the hudson river, they were so loud. The whole of new york city turned out to cheer for hospital workers and rightly so. They are indeed the heroes of manhattan, new york city, new york state and the whole country. Lets move on. Weve got actually, i like this story. This is promising, positive news about the patriots. Ash, give it to us. Ashley yes. This is a great story. It all goes back to massachusetts needing more supplies, especially those n95 masks that the First Responders and Health Workers need to protect themselves. Well, turns out that the patriots robert kraft, the son of, of course, mr. Kraft, the owner of the patriots, and robert kraft said wait a minute, i think we can do something. So they managed to secure over a Million Masks from china. The question was how do you get them back to the United States. Well, the patriots sent their plane. It was a red tape nightmare. They had to wait in alaska to get final approval. They landed in i believe it was shinzhen and had three hours. The people on the plane were not allowed to get off. They relied completely on ground crew. It took them two hours and 57 minutes. They did it with three minutes to spare to get all those masks on board the patriots plane and there you can see it, the big logo, sixtime champions, it sas on that plane, and they managed to get out and are headed back to bostons logan airport. Amazing how worlds collide and how people can help each other at times like this. In this case, like them or not, the new England Patriots and bob kraft, robert kraft, coming through to get those masks back to massachusetts. Its a great story. Stuart finally, some good p. R. For the patriots. Got it. Ashley exactly. Stuart similar story, lauren, come into this. Whats apple doing . On masks . For new york city . Lauren apple has donated 1. 9 Million Masks to the state of new york and i do have bad news for you on the state of new york. Overnight, a 17 increase in the number of infections here. More than 84,000 plus infections. 2200 deaths in new york state alone. Those masks from apple coming to ground zero, which is frankly new york. Mayor deblasio, the mayor of new york, says we need 3. 3 Million Masks by sunday as we prepare for the second wave of coronavirus cases that begins on monday. Stuart okay. Thanks very much, lauren. I want to get to the election, i want to get to politics, because it is going on as we speak. I want you to watch joe biden on the tonight show last night. Roll tape. Well, i guess in a nutshell, jimmy, the president waited too long to start taking it seriously. You know, all the way back in january, i went on in major newspapers saying we got to get moving, this is a real problem, we know whats coming, and we know we got to get better, we got to provide tests, we got to be getting out and making sure people understand whats about to come, and but its been a lot of lag time. Remember the president saying this is going to end shortly and its going to be like a miracle, et cetera. Stuart i think its time we brought in charles hurt, Washington Times opinion editor and columnist. Charles, is that the democrat line, the president waited and it cost lives . Well, if it is, stuart, i think its going to be a they are going to have a hard time with it. I dont think that americans right now care about anything except what are we doing right this instant to solve the crisis at hand and get the economy back moving. This whole business of trying to go back on the timeline, i dont think is a very wise political move for anybody. But if joe biden and democrats want to go down that rabbit hole, its going to be a very easy thing for President Trump to combat because of course, what was going on in january of this year . The World Health Organization was telling the world that this was not an easily transmissible disease, that this was not a problem outside of wuhan. What were democrats in washington doing . Impeaching the president over something they knew he would never ultimately be removed from office over this nonsense remember ukraine . People have forgotten all about that. When that sort of thing comes up, especially in light of politicians trying to score political points by claiming that they were more right somewhere back on the timeline, i think its a disaster for them. I think that President Trump will, if theres anybody that is better at fighting sort of a rear guard action and a frontal assault at the same time, its donald trump. If joe biden wants to try this against the president , its going to blow up in his face very badly. Stuart i want to turn to the media. I notice that chuck todd on nbc offered up a disclaimer before running the president s briefing last night. I guess it was about drugs. He offered a disclaimer beforehand. Cnn cut away. They didnt even cover it. I dont see how news organizations cannot cover a president ial briefing at a time like this. Absolutely, stuart. This is it reveals the fundamental unseriousness of these people. You have a global pandemic, you have a time where nothing is more vital than information itself, and you have the president holding these daily briefings and i think they are terrific briefings, they are very important, people dial in, they are paying attention, they are learning from them, their lives are affected by them, and to have these people in the media who are so fundamentally unserious that they want to turn this into ridiculous politics, ill tell you, i have been covering washington for a long time. I have been hanging around unfortunately with this media for a long time. I have never experienced the level of disdain and distrust among not partisan people, but people who are particularly invested in politics, just average people who have zero respect and zero faith in the media the way they do today. Stuart im with you 100 on this. I know people in the media. I know other individuals outside the media and the level of contempt that they are prepared to express publicly and privately for this president is to me astounding. This is the United States of america. These are prime Media Outlets yet give you the last 20 seconds. Go. Well, of course, people look at donald trump and they want to criticize donald trump. Well, everybody already knows donald trump. They know that, you know, his pluses and minuses. So when they tune into this, they see the donald trump they already know. What they are seeing for the first time is an appalling, unseriousness and lack of professionalism and bias among the media and its very disturbing. Stuart it will last for a long time to come. Charles hurt, thanks for joining us. Always good stuff. Thank you, sir. Look at the markets. We are down across the board. Now, this is a response to the 6. 6 million unemployment claims just in the last week and the discussion about a fourth stimulus program. 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