Notably russia, and surely it puts a crimp on the future of electric cars. Look at it this way. Why buy electric when a gallon of gas on average now costs 1. 81 and likely to fall much lower. In wisconsin, the average is all the way down to 1. 22. There are some places where its below 1. We will bring them to you. Its a big negative for the stock market. The dow industrials are going to open down 500 points. Thats roughly 2 . The s p down 1 . The nasdaq down 1. 93 . The oil crash really hurts stocks as well. Every energy stock is down. The airlines and the Car Companies, they cant cash in on cheap jet fuel and gas because people arent flying and theyre not driving. Where is the additional help for Small Business now that the first rescue package has run out of money . As of right now, it has not come through. Treasury secretary mnuchin negotiating with democrats over the weekend. Its supposed to be a better than 300 billion plan but its not here yet. Perhaps thats another reason for the stock markets monday morning decline. This is going to be a huge day. Can you believe, 11 a barrel oil . Varney company is about to begin. We are very close to a deal. We have a good chance of getting a deal. A lot of good discussions were had today. We have a good chance of getting the deal. We want the deal. We want to take care of our workers, we want to take care of our small companies. Stuart all right. That was the president on sunday saying we are close to a deal. Come in, keith fitzgerald. Look, does the market downturn which we are seeing in the futures, does that turn around if we get a deal announced today . I tell you, stuart, that is the logic. However, im not so sure we are going to get it. Oil has a very Significant Impact because Everybody Knows how closely tied it is to the balance of our economy. Stuart can you tell me why is it that this crash in the price of oil, and its a crash, 11 a barrel, down 30 odd percent, thats a crash, why does it spill over into stocks . It spills over into stocks because everything is correlated both on a consumption standpoint, you cant give oil away if nobodys driving. That then impacts deliveries, impacts transportation, impacts all kinds of other normal demand drivers that are there. Its also arbitraged against cash, meaning that if you buy oil here, you expect to use it there and it drives other value change in the economy, everything from production to assembly, those sorts of things. Finally, theres a financial impact. Every corporation has got what they call shortterm revolving debt. That revolving debt is based on how much cash they need on a daily basis. If the storage tanks are full, nobodys driving, they dont need it, they do need it, the calculus changes and that trickles all the way to the stocks. Stuart hold on for a second, keith. Oil crashing, stocks way down. Come in, ashley. Im told there are places where you can get gas for less than 1 a gallon. Tell me. Ashley yeah. Unbelievable, stu. 13 states. Arkansas, colorado, iowa, kansas, kentucky, michigan, mississippi, missouri, new york, oklahoma, ohio, virginia and wisconsin. Absolutely remarkable. 20 drop in gallons purchased in march. Last we looked towards april, compared to late february and early march, the amount of gasoline being purchased has fallen 50 to 70 . In other words, these are remarkably low prices. We are going all the way back 18 years. However, the reason is that no ones using it. Everyone is in lockdown, no one is filling up their vehicles. Therefore, we are running out of place to store the crude oil and no one is taking advantage of these incredibly low prices at the pump. Stuart just to be clear, that list of states that you read out at the top there, thats where theres at least one or two stations at 99 cents a gallon. 99 cents. Ashley 99 cents. Stuart just hold on to that thought. Thanks very much. Let me get back to this rescue deal for Small Businesses which has not come through as of right now. Edward lawrence is with us. The latest, please . Reporter yeah. You heard the president , donald trump, saying that democrats are trying to put in other things other than helping Small Businesses. They are negotiating with basically everything else. He said House Speaker nancy pelosi says she wants more money for hospitals, wants more money for protective equipment for medical workers, wants more money for front line workers along with the deal for the Payroll Protection Program. In addition, the House Speaker saying she wants 60 billion to be funneled only through Community Banks to reach the rural areas. Again, saying though they are very close, you heard President Donald Trump there, you played just a little bit earlier, saying they are close to a deal, hes hopeful for a deal today. The demand is still there. I talked with Business Owners in my community who say they applied for this loan under the program with the big banks and their loan is still in the verification process, while the program ran out of money. So theres extreme frustration with that. They would like to see this in order to keep going. On the other side of that, you have shake shack, who some say are not a Small Business, got 10 million in the loan program but from the criticism, they say they will return that money. Again, you are hearing stories like this on both sides. The demand is still there and very close to a deal. Hopefully they can announce today. Well have to see. Stuart on that note, harvard, theyve got a 41 billion endowment. They got some money from this bailout of Small Business and i believe they, too, are giving it back. So the discrepancy reporter 9 million. Stuart 9 million. Reporter harvard got 9 million. Thats money that could have gone to Small Businesses. Those Small Businesses see this and literally are getting very angry. I talked to two Small Business owners in my community and veins were literally popping out of their head saying they need this for their 20 employees, why does harvard or shake shack need this for their hundreds of employees. Stuart thanks, edward. Back to the financial markets. We still have a crash in oil. Its 11. 14 a barrel right now, down 38 . 39 . Weve got the stock market pointing lower at the opening bell. Keith fitz, coming back with us. Youre watching four stocks, starbucks, apple, gilead sciences, microsoft. Those are actually winners. They are down today but those are winners, correct . Well, they are. It depends of course on your time perspective but im looking to recommend to add to all four of those companies because theyve got a lot more going on beyond the virus so a day like this, even a week where we have some significant downward pressure, regardless of cause, the good always get better. I hope to buy things far cheaper this week. Stuart gilead got a couple downgrades today, i believe. You still hot on gilead at 82 . Oh, yeah. That doesnt even faze me. Remember how that process works. The downgrades off wall street are like betting on a horse race after you know the result. Im looking beyond that. Im looking at drugs, for example, theyve got a blockbuster hiv drug, they have a Rheumatoid Arthritis drug, so again, theres a narrative thats changing beyond the future. My job is to look into that crystal ball and i think these four companies great choices right now. Stuart you keep peering away into that chrrystal ball for us. Thanks very much. Next, this is a huge week for earnings. Lots of Big Companies report this week. Today its ibm after the bell, that is. Tomorrow we will get profits from netflix, thats the big one, and cocacola, too. Wednesday, at t, delta airlines, dominoes on thursday. They are big in this virus event. And we finish out the week with verizon and american airlines. Susan, come in, please. The biggest of the big there is netflix. It could be a huge week. Susan yeah. Plus by the way, the stock is up 40 from midmarch. Talk about explosive moves in the stock price. People of course watch netflix and the main catalyst for the stock move are probably how many subscribers in the first month of this year. Netflix has guided for maybe seven million new subscribers in the first three months of the year. This is coming off a tough compare from last year. Dont forget the first three months of 2019 was when people scrambled to get their Netflix Subscription before the price increased. They are comparing to nine million from last year. Still, given that people are stuck at home, the guidance for the next quarter will be very important. What will people sign up for march to june quarter. Anticipation is we will get above the seven million mark. Thats usually what moves the stock. We are expecting a really ugly earnings season. According to earnings estimates and averages, we are looking for earnings and profits to be down 11 in the first three months of this year, 21 in the next quarter, in the Second Quarter of this year, and overall down 9 for the entire year. So this is pretty much priced in, i think its individual names and stories that all count. Stu . Stuart im watching netflix. Im literally watching netflix. Im watching the stock as well. That company, theyve got some good new stuff. Susan they sign up someone like you as a new subscriber, what does that mean for their future, right . Stuart that is incredible. Absolutely incredible. Im afraid we have to go back to the grim reality of the markets this morning. Weve got the price of oil bottom right, its crashing. Futures for stocks show declines across the board. 2 down for the dow, 1 down for the nasdaq, nearly 2 down for the s p. On the program later, top chef, top guy, Tom Colicchio, is warning that one in five independent restaurants will not reopen without a lot more government assistance. That is extreme. One in five actually he says only one in five will open. How about that. Hes on the show this morning, 11 30 eastern time. Look at this. Another russian fighter jet buzzing a u. S. Spy plane over the mediterranean. General jack keane is with us. Whats the significance of this and whats the new relationship with china . Hes on the show. First, protests breaking out across the country. They are calling for states to end virus lockdowns and restart local economies pronto. More Varney Company after this. Lets be honest. Quitting smoking is hard. Like, quitting every monday hard. Quitting feels so big. So try making it smaller, and youll be surprised at how easily starting small can lead to something big. Start stopping with nicorette. Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Stuart lets talk hydroxy chloroquine. For that we need news on novartis. What have you got . Ashley the swiss drug maker has been given the go ahead by the fda to begin trials on im going to call it hcq. It is a malaria drug, as we know, but so far there is no scientific proof that it actually works on covid19. There are currently no approved covid19 medicines so novartis plans to recruit 440 patients across the u. S. , late stage trials to take place within weeks, and they say they will post those results as soon as possible. But hcq, a malaria drug, but no scientific proof it actually works yet. Stu . Stuart got to find that out. Okay. Look at this, viewers. Bottom righthand corner of the screen, the price of oil has dropped to 10 a barrel. How about that. What youre looking at, lefthand side of the screen, is a live look at annapolis, maryland. Protests expected to start very soon. Remember, this is a protest of people in their cars who will be circling and making a lot of noise, not so much people on the street. They are going to be protesting against social distancing restrictions. There are more of these protests planned nationwide, reopen the economy, that is the demand. Lauren, what do you have on that . Lauren protests today as well in pennsylvania and in buffalo, new york. We saw over the weekend at least ten states with protests saying look, 22 Million People are out of work, let us reopen our economies, Holding Signs that say shut down the shutdown. The issue is, we saw this with counterprotesters in colorado over the weekend, the Health Care Workers stood as the line of cars were driving on the street, they stood at the red lights blocking the cars, sending the message that its a balance that you have to strike right now. The governors need to look at the situation, they need to get people back to work, but they also fear returning to work too early and limiting the social distancing will cause a second wave and that could be worse. We are seeing protests and we are, believe it or not, seeing counterprotests. But thats the protest you are looking at yesterday with some counterprotesters in colorado. Stuart looks like the country is divided on this. Susan, i think there is a new poll which says exactly that. We are divided. Susan yeah, we are divided at this point. I think its 50 50 as to whether or not to reopen the economy. We know we are suffering right now, more than 22 million have filed for jobless claims. But despite that, despite the fact we have seen a spike in jobless claims, you know the markets are just 11 to 15 away from record highs once again, something that has surprised the u. S. President over the weekend as well, if you heard in some of the task force briefings. We have come up some 30 from those lows that we saw at the end of march. So yes, i think we are divided but most of america knows this country was built to be open and built to be working. Stuart that is true. Susan, thanks very much. Come in, dr. Marc siegel. Lets get the medical side of this. Look, the country is divided on reopening and how to reopen and when. Theres a political divide there as well. What about the medical community . Is there a division there . Well, there is a division there, because some of the medical community, by the way, good morning, some of the medical communitys saying what about all the Collateral Damage of being closed, the amount of depression we will see, the amount of suicide, the amount of other medical problems that get worse when you are under stress or cant get to your usual doctors or supply line. Theres also a geographic divide thats relevant medically. In the northeast we are seeing most of the cases in cities. On the west coast, we are seeing in seattle, san francisco, los angeles. But did you know between illinois and the west coast, theres almost no cases and those cases are confined just to cities. So theres vast tracks of rural areas that are pretty much unaffected by covid19. The other point i want to make is as we expand testing, we need to expand testing dramatically, we will know more and more who has this in advance of when they get it. South korea today has people sitting in cafes. Why . Because they have been doing massive testing. We are going in that direction, as the president pointed out, we have done over 4 million tests now. I think we need over 20 million tests. We need way more testing. Its got to be rapid testing. Stuart doctor, spring is coming and the summer is definitely coming. Its going to get warmer. Is there any evidence that the virus is killed by heat . I think there is. Now, talk about misinformation, stuart. Theres a study in france, its not published yet, no doctors have looked at it yet, and its claiming that covid19 is resistant to heat, that heat cant kill it. Meanwhile, it uses way more virus in this study than we would ever see, you and i would ever see, and it compares it to the sars virus in 2003 and says its similar but heat killed that virus. And the department of Homeland Security says heat, ultraviolet light, and humidity all kill this virus easily and so that implies, as dr. Fauci has told me and dr. Redfield of cdc has told me, this is likely to have a seasonal component, this virus. Thats good news for us and for the economy, because if we start to see the cases drop precipitously as we get into warmer months, that will be another clue to reopen the economy. Then we have to watch australia and the Southern Hemisphere because after all, they are entering their fall right now and they are not seeing a surge of cases in australia right now. The curve is very flat there. We monitor australia the way we do for flu and other respiratory viruses to see how they do in their fall to predict what we are going to see here in september. Right now, all signs are that this Virus Outbreak and pandemic is decreasing. Stuart dr. Marc siegel, thank you very much. We appreciate that. Thanks. Look at amazon. In a down day, they are up 12 bucks. By the way, they are deploying thermal cameras inside their warehouses to scan for high temperatures amongst the work force on the job. Amazon is up 11 bucks. 2300 a share. Microsoft, they are launching a plasmabot to encourage people who recovered from the virus to donate their plasma as a possible treatment. Check united airlines. Expects to report a pretax loss of around 2. 1 billion for the First Quarter of the year. They are down 5 this morning. Wynns ceo, the gaming company, hes calling for the Las Vegas Strip to reopen mid to late may. Its not helping the stocks. They are all down. Overall, we have a crash in the price of oil. Look at that, right hand bottom of the screen, 10. 98 is the price. Weve got a sharp drop, 21year low, by the way, thats the price of crude oil, a 21year low. The market is going to open lower all across the board. We will take you to wall street after this. For many of our members, being prepared. Wont be a new thing. And it wont be their First Experience with social distancing. Overcoming challenges is what defines the military community. Usaa has been standing with them, for nearly a hundred years. And well be here to serve for a hundred more. Stuart thank you, front line workers. The job youre doing is terrific and thats a fact. We like to bring you news of wh