To talk about the vote, the guard rails that are put in now for Small Business loans and what phase four could really look like. Government money, though, will not save Neiman Marcus from the crushing effect of the covid19 epidemic on retailers. The High End Department store chain could file for bankruptcy, some say at any moment, could be by the end of this week, but can saks save it . The former chairman and ceo steve sadove on that and whether we are witnessing the death of the Department Store. Tonight is the first live major sporting event since the virus shutdown, all of the leagues, the nfl, mlb, nba and its the nfl draft, okay . Yeah, its a sporting event, is it not . No touchdowns are scored, though, unless you count the hundreds of millions of dollars flying around to potential picks. We are less than an hour to the closing bell on this thursday. Lets start the claman countdown. Liz we begin with breaking news and it involves amazon. Amazon is denying a bombshell report by the wall street journal right now. The paper reports the employees of the Online Retail giant used data about independent sellers on the amazon platform to then develop competing products. That goes against the companys own policies. Fox business has obtained a statement from amazon. We got it just a few moments ago. The ecommerce behemoth says quote, we strictly prohibit our employees from using nonpublic sellerspecific data to determine which private label products to launch. While we dont believe these claims are accurate, we have launched an internal investigation. Lets take a look at amazon right now. We do have that stock at the moment trading up just about 1. 8 to 2,408 and change. From a record plunge to the third day of gains. The necksnapping moves we have seen in oil this week and that investors certainly have endured, just three days after collapsing into negative territory for the first time ever. Look at oil today, the u. S. Benchmark jumping more than 20 today. It settled at 16. 50 a barrel. Big move here now. We are at 17. 03 in the aftermarket session. A gain of 3. 29. But mondays oil shock when oil did something its never done before and that is go negative in price, that indicates that producers maybe we see the optimism because producers may start very seriously scaling back on production, shutting down wells and then halting all new drilling. So you do have names like apache, noble energy, devon, occidental and schlumberger moving higher today. Investors betting on casino stocks, particularly las vegas sands. The stock is jumping at the moment. Lvs says it expects gambling to rapidly pick up in asia by late summer or early fall, once the travel restrictions in that region of the world begin to ease. You have lvs up 5. 03, a gain of 12. 25 . Followed by wynn resorts, gaining 8. 5 . Rest of the names looking Pretty Healthy right now. All right. At this time yesterday, we were telling you about the plunge in l brands as a half a billion dollar deal to sell its victorias secret part of the business to Sycamore Partners was falling apart. Sycamore was saying we dont want this anymore. Coronavirus has been a disaster for retail. We dont like how victorias secret has handled the situation. But the stock of l brands is now higher in this final hour of trade by five full Percentage Points after wells fargo came out and said there is actually still a strong chance the partial sale could still happen. The bank says sycamore is using its lawsuit it filed to back out of the deal as more of a negotiating tactic in order to secure better terms, meaning a lower price tag. Speaking of price tags, the price tag for the coronavirus is on the verge of rising in just the next couple of hours by nearly half a trillion dollars. The house right now practicing social distancing while making final comments, final debates. You can see it says member voting live. They split the entire house into eight separate groups who will then begin voting on the next rescue package for Small Businesses, hospitals and testing. Much of the 484 billion socalled phase 3. 5 stimulus will replenish the Paycheck Protection Program, which is kind of unbelievable, ran out of 349 billion in the First Tranche in just 13 days, leaving many Small Businesses emptyhanded, while other Larger Companies got millions of dollars. The question now becomes are we doing this right or are we throwing too much money at the wrong problem . Lets bring in the cochairs of the house problem solvers caucus. New jersey democrat Josh Gotheimer and tom reed, new york republican. I guess we are waiting for you guys to get your votes, correct . Thats what were waiting on. Liz okay. Im guessing both of you gentlemen are going to vote yes. So i will ask you, if in this plan, the new part of it, were you able to solve any of the problems that arose the first time around . Congressman gotheimer, you first. First and foremost, what this plan is about is getting more resources for many of the challenges we took on in the cares act, so more resources to Small Businesses through the ppp program, the Loan Forgiveness Program which is essential to our businesses and we noticed to get more of the right businesses getting those resources, as you point out, so theres more resources in this package to help Smaller Banks and small institutions, especially those in rural areas and others to get those resources and more resources for our hospitals that are hurting. Im in northern new jersey which i represent. Weve gotten devastated there. Our hospitals really need the resources. So and also, more protection. Theres a lot more here, obviously, there are other issues weve still got to address like getting more resources to our municipalities and to our counties and our states that are hurting. We need more resources going there so that will be a big focus in the next package. Liz congressman reed, with the first rescue fund, there was criticism that Bigger Companies flush with credit soaked up big chunks of the cash that was really meant for Small Businesses. So we asked treasury and got some pretty good numbers here. Yes, 4400 out of the 1. 6 million applicants got more than 5 million but nearly all the rest, more than a million, went to businesses with fewer than ten workers which i would say is impressive, but can you guarantee that the shake shacks and kura sushis of the world, publicly traded companies, giants who did get millions, of course both ended up returning the money after public pressure, can you kind of guarantee to your constituents that they wont get a chance this time around to work the system and that it will be for the Smaller Companies . Well, obviously with 320 billion and then 60 billion, billions were set aside for the Smaller Banks, smaller Credit Unions that are designed to go to those smaller businesses you referenced. But lets be clear. What were dealing with is 22 trillion u. S. Economy has been impacted by this virus crisis and i will tell you, by shutting down cash flow, you are impacting all businesses. So bottom line is we need to get this money flowing and get it turned on and i think we are going to be in a much better position now. Also, remember a lot of what happened here was sophisticated businesses that had relationships with banks were able to get the information together quickly, get it through the system more effectively. Now, those businesses that had to take a little time to get that data, get that information because theyre not as sophisticated as the others have gone through that curve and they are teed up to take large advantage of this program now. Liz i hope so. A lot of businesses are asking for aid in many forms, aid like the trump hotel in d. C. Has requested relief from its monthly lease payments from the government because you know, the long and short of it is this hotel was in a former federal building. Congressman reed, should that happen and how would that fit with your constituent snss . Obviously that optic is not very good. I would definitely ask the president and others that are on that issue, see if they cant address it the way shake shack and others did. But you also have to recognize that the trump hotel is important to a lot of people and if theres not cash because no ones going to those hotels, no one is going in there and having dinner or having events, they are not going to be able to cash flow and take care of those employees. So lets not get into partisan politics. Lets actually look at the employees that are benefiting from staying in a position of receiving a paycheck and it doesnt matter what the name is. We cant get into this politics of division, people are hurting at the front line, the workers, the people receiving these checks, but at the end of the day, this economy is on life support right now and i will just tell you we got to do everything we can to get the economy back up and running and we have to not only be defensive on the virus, we have to have a healthy respect for it and start living again. Liz okay. Congressman gottheimer, weekly jobless claims jumped 4. 43 million this past week. We now have a fiveweek tally of 26. 5 million people. This is clearly a disaster. These rescue packages, should they be focused more on testing versus propping up shuttered businesses so that we can more quickly reopen the economy, you know what im saying . This way if were just putting big the money could be gone in another 13 days and there will be more needed. I dont see this as either or. We put a backtowork plan together, the problem solvers caucus, 25 democrats and 25 republicans, which addresses your issue. Of course we need to get testing out there and we need it to be Rapid Testing and ubiquitous. We really need to have it and obviously its going to be essential to reopening in the way we need to but you have got to make sure in the meantime, people have some resources, they can pay their bills and have food on the table. Got to make sure we take care of workers and of course, Small Businesses and businesses of all sizes who employ, as tom was talking about. We need to make sure we are looking after both. We have to be thinking about supply chain issues so if we get hit again with another pandemic or if this comes back stronger in the fall or winter, that we are prepared for it, weve got protective gear in place. Theres a clear checklist we have to think through to open up in a healthy way and thats what we are focused on. How do we make sure we keep our economy moving, keep it strong, are there to reopen but we also keep people safe. You can do both if youve got a clear strategy. Thats what i think is essential here. Liz i know both of you have to get out there and get in your relative groups to make sure that you vote, but i will tell you what americans like to see. Democrats and republicans working together like you goes are. I cannot thank you both enough. Thank you very much, gentlemen. All right. Apple computers, well, its motto is anything you can do, we can do better and now that apparently includes making microchips. With the closing bell ringing in 48 minutes and the dow still up about 144 points, according the a new report, starting next year, apple which has long been rumored to be developing its own chip for its mac computers, will begin selling macs with homegrown chips. That potentially cuts out intel from the equation. The apple chips are not entirely organic, though. They will be built on arm processors which allow Companies Like apple to customize them. Apple moving higher by a third of a percent but intel getting dinged, down about 1 . We should mention, softbank owns arm. Softbank is up 1 . When we come back, much more ahead. Billionaire Businessman Mark Cuban just joined our virtual town hall in the last hour. The Dallas Mavericks owner now on the president s Advisory Board to open america. When he thinks that might happen, next. Its a new day for veterans all across america. Home values are up, and Mortgage Rates are at record lows. Thats good news for veterans with va loans. Thats me. By using your va streamline refi benefit, one call to newday usa can save you 2,000 a year. Thats me. Theres no income verification, no appraisal, and no out of pocket costs. Thats me. Put your va home loan benefits to good use. Call my team at newday usa. Heres the thing about managing for your business. 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Liberty. Liberty. Liberty. Economists will be writing about this for centuries but lets find out. I think when we can get to the other side, get to america 2. 0, then i think positive things will start to happen. We will be in a better position economically and medically and then we can start making some decisions on how we deal with taxes and debt and those type of things. Liz okay. Now theres a name, america 2. 0. That was Dallas Mavericks owner mark cuban in just the last hour with charles payne, because he did his virtual town hall. Mark is a brilliant billionaire businessman who has been through a lot in his life, real highs and some lows, right. Lets bring in our floor show traders about what he said during this hour. Phil flynn and thomas hayes. What do you make of marks assessment of the next steps . What do we need to do to get to america 2. 0 . Phil, you first. Okay, great. I think hes absolutely right. I think were doing the right things right now. I see a massive amount of stimulus by the federal reserve, the way the banks have reacted, the way that were helping out Small Businesses, thats going to be the thing. Because hes right, this is like winning the war. Remember, we didnt worry about the debt when we were trying to win world war ii, right . We were spending whatever it took, we did whatever it took to win the war. And look at the incredible Economic Growth we had after world war ii. We built our infrastructure, we did things like that. So there could be a new move. This could be an opportunity for america to come together, rebuild the country unlike anything we have seen before and get that kind of boost. So good out of all the bad that we have gone through. Liz look, the dow is on pace for its best month since 2015, october. Then i looked and i saw that lets see. Little noisy there. The nasdaq is having its best month in ten full years. Thomas hayes, the stock market is coming back and thats fantastic, certainly for our investor audience, but theres a lead story on fox business. Com right now thats entitled the tale of two pandemics. It shows a picture of elon musk and a picture of jeff bezos and says the billionaires are getting wealthier while the rest of us, im quoting this, in the article, while the rest of us are losing money. It is really upsetting. You wonder how we do emerge, its not all going to be sunshine here. People are going to be damaged for years. Yeah. Well, liz, if you look at where china is, china hit their peak cases on february 5th, peak new cases. We are about two months behind them. If you already look at the economic recovery thats happening, and they dont have any special drugs that we dont have yet, either. Its just a slow, stable recovery, they are at 90 to 95 of prepandemic employment, at 100 of rush hour traffic pollution, at 100 of coal usage and they doubled seats in the air for domestic air travel from february to march. So its hard to see right now, we are kind of in the middle of it but i think what phil said about all the stimulus, we are filling about a 2 trillion contraction, economic gdp contraction worsed case se ma do with stimulus aid and liquidity. What people may be underestimating about america 2. 0 is as we slowly, safely and securely open up the economy, i think towards the Fourth Quarter and certainly towards the first half of next year, people may be underestimating the amount of growth that we are going to see and how quickly people are going to get back to work. I think ben bernanke said it best. He said think of this like a shortterm Natural Disaster versus a prolonged longterm downturn. Thats a good way to look at it, especially since the government has been so proactive. Liz i hope you both are right. Phil and thomas, i really appreciate you guys coming on. I do want to have our viewers turn their attention to the lower band here. We look like we are losing a lot of steam. Dow jones industrials, the high of the session was a gain of 409. We are up 60 points now. S p had been up about 45 just a second ago we were up only 1. The trend starts to look a little dicey with about 39 minutes to go before the closing bell. Moments ago, we just got the word, folks, the house has indeed started to vote on the 484 billion stimulus plan to combat the economic damage from the c