Says the economy will take off quote, like a rocket ship when it reopens. The questions, though, are when will that be and what will it look like. The market is asking those very same questions as it searches for direction this morning. More green on the screen but again, markets want to know how much economic damage has been done. Meanwhile, moodys says economic output fell a staggering 29 in the first week of april. That is compared to march. That is the first full week of true social distancing rules in place across the country, and that was the result. Down 29 . The other big story of the day, the w. H. O. Is under fire from President Trump. The president saying he may freeze funding to the organization over its response to the pandemic. This is happening as we get more clarity on what may be in a fourth stimulus package. President trump wants 250 billion more for Small Business. Senator schumer wants a 25,000 bonus for front line heroes Like Health Care workers. And we also have some amazing images for you from wisconsin to wuhan. China reopening the city that was the epicenter of the virus there. Serious questions, though, surrounding that decision. Meanwhile, voters line up in wisconsin Wearing Masks and gloves, doing their best to social distance as wisconsin votes in its primary. Serious questions surrounding that decision as well. So much to talk about. Good morning. Im Ashley Webster. We begin with President Trump talking about reopening the economy. We have the greatest economy in history, the greatest economy that weve ever had, the greatest economy that anybodys ever had and one day they said you got to close it down, close the country, because we have to get rid of the plague and thats exactly what we had is a plague and were seeing light at the end of the tunnel. You see it, i see it and i think were going to go like a rocket ship once we get back to business. Theres a lot of pentup energy and demand. Ashley i like that expression, like a rocket ship. A lot of pentup demand. Liz peek joins us now. Hi to you, liz, fox news contributor. Do you think the president is right, if we can just get back to work, we are going to take off like a rocket ship . Look, ashley, i think it depends on the timing, but the sooner, the better. I think what we are seeing now, smaller countries in europe, for example, beginning to reopen. We are going to be watching that very carefully to see does it require absolutely universal testing, does it require finding out if everybody has antibodies. I think the president is totally right. For one thing, every woman in america wants a haircut, ashley. There are businesses where there truly is enormous pentup demand. But i think what were going to see is regionally and by industry, people, this is going to have to come from the private sector, with federal guidance, but i think there are a lot of businesses that could carefully begin to reopen, such as restaurants with less density, personal care like beauty salons, if people are very judicious about Wearing Masks and other kinds of protective gear, we may not be able to toss away all of our careful protections in the next several weeks but i do think there are businesses which could begin to reopen and by gosh, we need to do that. Ashley we do. I guess its all about the timing, liz. Certainly the markets, its interesting, we had a big push on monday and dow started to come in, how soon can we get back to work, is the fiscal stimulus enough to tide us over until we get to that point . Because if we come back too soon, we could get into this cycle of reopen, reclose, reopen, reclose, and that would be catastrophic for the economy. That would be catastrophic. Equally catastrophic is holding this economy completely suppressed until, for example, august. That just isnt going to work. So i think, look, its going to be an incredibly tricky balancing act. Again, it may not include all of our citizens. If we can tell who has had this virus or who is immune to it for some other reason, those people can get back to work. Younger people can get back to work. By the way, its not all about a vaccine being the ultimate panacea. It would also be comforting if there was a therapy. If we knew that if you got sick, you could get well, i think that whether its hydroxychloroquine or whatever else, i think there are 29 paths of different products going on now, if we knew you could go back to work, get sick but survive and be okay, that would also change the calculus enormously. Ashley it certainly would. Hopefully we can get to that point. Liz, stay right there, if you would. Lauren simonetti, could you come in. We have news on Mortgage Applications. I can only imagine. What have you got . Lauren Mortgage Applications to buy a new home down 24 year over year. So the spring Housing Market is all but dried up but take a look at this. Applications to refinance surging on an annual basis by 168 . Heres the moral of this story. You want cash so you are refinancing your mortgage to lower your Monthly Payment and if you are about to buy a new home, you are not doing that because you want to save that down payment, if you need it for, well, the rainy days were in right now. Ashley exactly right. We are in that rainy day. Thank you. As we sit and wait to get back to work, we are hearing about more furloughs. Susan li, come in. Tesla is the latest, right . Susan furloughing nonessential workers. Salaried ones will still get paid but are getting their pay cut. This will be in place until at least may 4th and these pay cuts will last until at least the end of the second quarter. So workers pay will be cut by 10 , directors getting 20 pay cut. But tesla says they have the cash to weather this storm, about 6. 5 billion. In the past theyve had concerns about tesla and their cash position and whether or not they have the dollars to see them through these tough times. Apparently they say they do. Its not just i want to quickly get through this because this is important for employed workers and those who are unemployed. Tj maxx which has around 286,000 workers worldwide, say they are furloughing their workers at tj maxx, marshalls, home goods and home sense and also pch announcing this morning they are going to furlough about 75 of their stores, Office Workers as well in north america and cutting fulltime staff pay by 5 to 20 . We know its a very very tough jobs market. Ashley it is. With each passing day we get more and more news just like that. Susan, lets bring back liz peek. Liz, we just had a head line number, economic output plunging by 29 in april compared to the same week in march. I mean, the longer we sit here, you talked about it, the worse the damage is going to be. Oh, without a doubt. Look, the fed can only do so much rolling out these loans. Its obviously incredibly important for Small Businesses and thank heavens they got that done quickly and thank heavens theyre looking for more because i think that is really going to be the backbone of whatever recovery we see but the numbers are incomprehensible. We have never seen anything like this. Of course, we are going to see another unemployment number tomorrow or benefits number and thats going to be horrible. It will probably be seven million or more people applying for unemployment benefits. The good news is, some of those people are being furloughed because their employers know, Small Businesses know that they will hire them back and that they are going to be tided over by these programs the government is rolling out. But again, the depth of this decline, i do think the president s right, whenever we have seen a really sharp contraction, you do get a pretty good recovery and hopefully thats what we get. Ashley fingers crossed. Lets bring in market watcher shah gilani, if we can. Shah, great to see you. My first question is, are we seeing the bottom of the market now, since those late march lows . We kind of flattened out a bit yesterday but have we already seen the bottom . We have seen what i call a soft bottom, and im calling that in terms of numbers, 21,000 on the dow. I like the market in here. I think we have room to go on the upside. 24,000, we came close to that yesterday before falling back at the close. Its another milestone. If we get to 24,000 on the dow, get above there and consolidate, then it bodes very well for the market. Right now, all bets are off because we are still in the range. That range for me is really the pivot point is 22,000 on the dow. We could go up to 24,000, hit there, weve got some resistance there, come right back down and its possible to then go from 22,000 down to 20,000. Below 20,000 does not look good. We are not anywhere near there now. We are on the upside, closing in on that 24,000 level. That bodes well. I think the soft bottom is in and we are starting to acquire some positions in here already. Ashley all right. A glimmer of hope. Thank you very much. We will be back with you in just a bit. Lets take a look at oil, why dont we. This is of course ahead of opec holding an emergency meeting tomorrow. At least we think they will. They just cant agree on production cuts so we have had this impasse over a price war. But crude, as you can see, up barely, 2 . 24. Brent crude which is more widely used around the world, just up. 33 . By the way, talking glimmer of hopes, lets go back to susan li. We have travel restrictions being lifted in wuhan where all this began, right . Susan 76 days. So close to ten weeks in a profoundly damaged Industrial City of 11 million which has been in lockdown because it is the epicenter of the coronavirus outbreak. Now, are things back to normal . Some would say no. Indications are if you hear the anecdotal stories from those who live in the city, some are rushing to get out once the lockdown has lifted so they can take the trains and buses and leap to other cities but businesses are not back up and running. People are still scared about whether or not there might be a reemerge ence of the coronaviru and spread of the disease. We know masks are mandatory across china but there is some semblance of some normal life but is it 100 . Anthony fauci says it probably wont be in the u. S. , definitely not the case in wuhan. Ashley but we will certainly be covering, watching what happens there very carefully. Thank you. Check this out. This is a popular tourist spot in china. It was mobbed by visitors after the coronavirus restrictions were eased. Oh, my god, look at that. Talk about pentup demand just to get out of the house and to a tourist spot there. I dont know. Right after the pandemic, would you want to be in that crowd . Anyway, there it is. The coronavirus not stopping thousands of people in wisconsin from voting yesterday. On your screens is video showing huge lines of people and yes, they are all basically Wearing Masks, what i can tell. They were all lining up to vote in the proper style of about six feet apart. Lot of people surprised that people were out voting yesterday in wisconsin. By the way, few big guests on the show to tell you about. Kicking it off, football legend joe namath will be along. In the 11 00 hour, celebrity chef Tom Colicchio and i always think of seinfeld but he was a great baseball player, too. Keith hernandez will be along in the 11 00 hour. Lets take a look at the futures with about 18 minutes before we open on wall street. We are up 300 on the dow. Thats the implied open. The s p and nasdaq also up more than 1 . We heard this story, banks are struggling to process hundreds of thousands of Small Business loan applications. Next, we tell you how much they are given out so far, and so much more ahead. Well be right back. 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. Mortgage rates have dropped to all time lows. Which most pills dont. By refinancing now, you can save 2000 a year. And newdays va streamline refi shortcuts the process. Veterans can refinance with no income verification, no appraisal, and no out of pocket costs. One call could save you 2000 a year. The World Health Organization receives vast amounts of money from the United States and we pay for a majority of the biggest portion of their money, and they actually criticized and disagreed with my travel ban for the time i did it and they were wrong. Theyve been wrong about a lot of things. They had a lot of information early and didnt want to they seem to be very chinacentric. Ashley theres no doubt the president , not very happy with the w. H. O. , the World Health Organization, and threatening to pull back funding. Coming up later, we will be talking to the congressman who introduced a resolution to defund the w. H. O. We will get into that issue as well. Lets get straight to Edward Lawrence. Edward, banks struggling to process hundreds of thousands of Small Business loan applications, right . How much have they given out so far . Reporter yeah, the demand is huge for this program, ashley. So far, the Payroll Protection Program has given out 330,000 loans over the past six days, processing through 88 billion. Its a wildly Popular Program here and needs more money. Both republicans and democrats say that even with its failing, they want to give it that more money. House Speaker Nancy Pelosi releasing what she believed should be in the package with the money for this program. The first thing she says in addition, 250 billion added to the program. The House Speaker wants to add 100 billion to help hospitals, 150 billion for state and local governments to mitigate losses. Plus a 15 increase in the food stamp program. Treasury secretary Steven Mnuchin is only asking for that 250 billion in assistance. A vote in the senate will happen tomorrow related to that, but the banks, from their side of things, the delay so far has been because they cant get new passwords. Whats happened is their password for their portal at the sba has expired and that delay is waiting for new passwords there. Again, the sba, Small Business administration, processing billions of dollars in loans per hour and both republicans and democrats saying this Program Needs more money. Back to you. Ashley yeah. The scourge of the passwords. I battle with them every day. Now even the big banks are doing the same thing. I know we need them but they are a pain. Edward, thank you so much. A new idea to get americans back to work, a second task force to focus on that very issue. Joining us, betsy mccoy, former Lieutenant Governor of new york, here to explain her idea to get us back to work. Good morning, betsy. Whats your plan . Good morning, ashley. In effect, we do need a strategy right away. We cant wait until the virus peaks and the reason is that the shutdown could kill more americans than the virus itself. More americans could die from suicide, drug overdoses and heart attacks related to despair, they lost their jobs or lost the businesses they spent decades building. Right now we are seeing 12,000 deaths in the u. S. From the virus, very tragic, and its predicted to increase to perhaps 82,000 but think of this. Every year in good times, 48,000 americans commit suicide and as the Unemployment Rate rises, every time it goes up 1 , more suicides in the u. S. Similarly, with drug overdoses. In areas like ohio and kentucky, where unemployment has been ravaging those areas for years, opioid overdoses are a severe epidemic and so we have seen with the shutdown and a 30 Unemployment Rate predicted by the st. Louis fed that we could be overwhelmed by a second tidal wave of deaths, not the virus, but deaths of despair. Thats why we need to act now. We have the tools, ashley, that we didnt have a few months ago to implement a new strategy, a new task force could do this. This will be a treatable disease by summer. We have antivirals already being used in Clinical Trials and the fda is not waiting until the trials are done so that those drugs can be rolled out. Ashley we are running long but you made your point very clearly and some very sobering statistics to go along with it. We all just want to get back to normal as quickly as possible so we appreciate your input. Betsy, thank you so much. I want to get to lauren simonetti. Disney parks we are told could soon add temperature checks before you go in the park. Lauren how do you make people feel safe going to a theme park and going on a ride . Can you maintain social distancing on a ride . Tough question. So what disney is doing, per chairman bob iger, is taking temperature checks when the parks do indeed reopen around the world. The stock is down a little bit right now, 25 cents. Wells fargo downgraded the company, saying attendance could take two years to normalize. So as we talk about returning to normal, would you go on a ride . Would you go to a theme park . These are questions everyone has to answer. Ashley they certainly do. Its a good point. Is that the new normal, temperature checks going to disney parks, to sports stadiums, to concerts . Is that what were looking at . Interesting. Masks as well. Thank you very much. Now just about six and a half minutes away from the opening on wall street. Guess what . Lots of green on the screen. The dow up 317 points. Good for a near 1. 5 gain. We will head to wall street soon. Well be right back after this. Ashley all right. We are now just two minutes away from the opening on wall street. Before we jump in there, lets go to lauren simonetti. Got some news on mcdonalds . Lauren yeah, 75 of their restaurants worldwide are quote, operational. The company says at the same time, because the dining rooms are closed, global same store sales fell 22 in march. Ashley 22 . Thats mcdonalds. The