Mind at 2280, it is still a double digit advance on the year, but its the technology falloff thats getting a lot of attention here. Its led by amazon but concerns as well that the Technology Sector is not immune from some of these issues and then we throw in oil, whats happening with exxonmobil and chevron, as expected, reporting some lousy numbers. Its all weighing on the markets this first trading day of the month. Here to detail that, jackie deangelis. Hey, jackie. Jackie good afternoon, neil. Thats right. This really highlights the fact that earnings matter when it comes to the stock market. You take into account the fact that these companies were reporting earnings that only account for about two weeks of the Coronavirus Impact and we wonder whats going to happen when we get the Second Quarter numbers. But amazon and apple are really weighing today and amazon just shows you, its one of the stocks that everybody has left because theyre saying amazon is doing well during this, people are on lockdown, they need more goods but it shows you they could beat on their revenue, but they couldnt beat on their earnings because they have had to hire more people, they have had to increase wages, they have had to spend more on safety measures, and that all eats into the bottom line. Then you take apple and apple just flat out came out and said demand has been weak as a result of the coronavirus. The revenues there were flat and then the company didnt issue guidance because of the coronavirus uncertainty. So these are two very big red flags. These have been two market leaders as we have been moving forward. You think about that and the umbrella effect, the trickle effect to the rest of the companies. You mentioned the oil stocks having trouble. How could they make money with oil at 18 a barrel . So these are some of the things that investors are really starting to think about. They have been thinking for some time but they have also been a little optimistic. Heres what we know about earnings in general so far. 47 of the s p 500 companies have actually reported the First Quarter results. 65 have beaten on earnings and 63 have beaten on revenue but that really doesnt tell the entire story, because remember, analysts knew this was coming so they adjusted their numbers down. Whats really important here is that for First Quarter earnings for the s p 500, the expectation is a fall of 13 and again, you think about what could happen in the Second Quarter if this problem and the shutdowns, all of this is prolonged. But there are a couple bright spots for the market and thats what gave us the boost that we saw for the april numbers. As a matter of fact, the dow had its best month in 33 years. So it was stimulus measures, it was optimism on states reopening, optimism on the gilead treatment and the potential for a pfizer vaccine. The question is, how much longer does it take to develop these things and make them mainstream. The old adage says sell in may and go away. Well, a lot of people have gone away already. This is going to be anything but a typical summer. So its hard to know what to expect. Two points from this week, not to forget as we head into the weekend. T First Quarter gdp, minimally impacted by the coronavirus and also 30 Million People thus far dont have jobs. Back to you. Neil there is that. You and i have said, you know, what really will move this market is not so much progress on the earnings front as much as progress on the virus front. Until we see remdesivir pay off and i know they are ready to launch still more kits to the American People as soon as they get the go ahead to do so, until we have that or confirmation that its a vaccine or treatment that works, and a host of others, i dont know if we break out of this. But we shall see. Jackie, thank you very, very much. Jackie the only thing i would say, you have said this a hundred times, you know, it takes time to see a recovery like this go into place. The economic damage thats been done here is going to be pretty substantial. So the market, you know, it gets ahead of its skis sometimes with the excitement. Thats the only cautionary note. Neil we will be speaking to the Connecticut Governor about what progress hes seeing in just a second. Ahead of that i want to go to mike tobin because the slow unwinding of provisions that have affected a lot of states prompting protests nationwide and a big one right now going on in chicago. Michael. Reporter this is called the open illinois protest as you see many open the state protests. Its organized by Freedom Movement, usa. I can step out of the way and let you get a look as the protest is just starting to really get moving. Its not packed, i wouldnt say. You dont have people on top of each other. But they are certainly not six feet apart. Now, this Freedom Movement usa claims that they are a group of likeminded republicans. Their complaint is that they dont like the one size fits all approach. They want individual businesses to make their decisions about reopening. They want individuals to have the freedom about whether they will take the risk or not. And they complain that the illinois governor, and chicago mayor, are killing livelihoods by playing politics with a pandemic. In response to the pressure, mayor lightfoot said opening up before data and science tell them to is foolish. Also under pressure is michigans governor, gretchen whitmer. The demonstrators descended on the capital in lansing yesterday, in fact, went in some of them armed. Whitmer went the other direction under the pressure she was getting. S the legislature refused to extend her state of emergency so she did it by executive order. They also approved a resolution to sue the governor so anticipate court action in michigan. All this while the demonstrators complain that whitmer is exercising too much power. We can open up illinois safely. We can open Small Businesses. We have many Business Owners behind me today that laid off tens and 20s of people and they are not getting stimulus plans, they are not getting checks. These people need to eat. They meade need to pay bills. Reporter more than a dozen of these reopen demonstrations from coast to coast across the nation right now. Theres a counter protest here in illinois, a group called refuse fascism is mounting up an event and heading to this location. Neil . Neil you know, in a lot of these places, i think you touched on it, they violate the distancing provisions and that prompts protests of the protests but how is that faring across the country with some of these . Reporter well, specifically in michigan, you saw Governor Gretchen Whitmer say they may very well extend the need for these stayathome orders and lockdowns by attending these m demonstrations and getting within six feet of each other. So far i dont have any specific information that the people grouping up have caused an outbreak but it certainly is a concern. When you get a group of people, they all get together, they touch things, a lot of people are wearing masks, some of them are not, and we will see how that bears out in the long run. Neil all right. Thank you very much. Mike tobin in the middle of all that. We will keep you posted on how the protests go. By the end of next week, likely about 31 states will have begun the process of unwinding some of these provisions that have actually sparked a lot of these protests. Connecticut will not be among them immediately, but beginning on the 20th, will start loosening things. The degree to which is really up to, well, those in connecticut honoring what the governor wants to do. That Governor Ned Lamont joins us now, connecticuts governor. Governor, good to have you. The may 20th date, what happens on that date . What begins to unwind . Nice to see you. First of all, remember we never closed manufacturing. Most of our stores stayed open. Some of them for dropoff only. What we are doing may 20th is opening up more of the service economy. Thats nails, thats barber, thats restaurants for outside use only. We had our best health care expert, leading epidemiologist, come up with a strategy. They said frankly, the more you do outside, the safer it is. Thats why i went with restaurants outside to start. Neil when last we spoke, i always appreciate having you on, you talked about certain criteria that you are going to look at, not the least of which is a 14 day rate of decline in hospitalizations, very similar to what your colleague in new york, andrew cuomo, is looking at. You want to see a lot more testing. They are chief among things you are looking at, but what else . Masks. Make sure i can provide masks for every single Small Business that maybe doesnt have access to them so that their employees are safe and customers are equipped as needed. Maybe i will take a look at georgia. They opened up pretty early, about a week ago. So in a couple of weeks, we will see whether that was a risk worth taking. Neil you know, in georgia, what they did, its kind of interesting, yes, they did reopen a little early, but they did it under the most tentative, in other words, opening up restaurants and the like. I think texas is of the same mindset but at 25 to 50 capacity. If that goes well, starting at a low number like 25 , give it a couple of weeks, make it 50 . Would you entertain anything like that in your state . Absolutely. We would ramp that up over a period of time based upon performance. But i think a lot of our consumers here in connecticut are cautious. You know, well see whether they rush back to that restaurant or that shoe store, or whether they are going to take their time a little bit which is why its so important to have the Health Care Community take the lead, say these are protocols we believe to keep you safe. Neil now, the spike in cases is a possibility, im not a doctor but i talk to a lot of doctors who say its almost inevitable we will see at least a slight spike. They want to keep it down to that. They say if you dont see that happening, then you dont see reality. Are you and your folks recognizing that its distinctly possible no matter what you do, no matter what precautions you take, there will be a slight rise in cases . I think youre probably right about that. My metric is to make sure i have the Hospital Capacity always there to take care of people in need. Any time i see they may be pressing up against that capacity issue, we rethink again about whats open and whats not. Right now we have pretty good capacity. Maybe you can hear i got a little protest going on outside here myself. Neil i did hear about that. What are they protesting, the fact that you are being very tentative about this, pushing this to the 20th, now you quite accurately pointed out you didnt shut everything down so are they just saying they want everything opened up right now, like whats happening in a lot of these midwestern states . I believe its open up connecticut now and you can open up everything tomorrow, a, its incredibly risky, b, Public Health does not give consumers confidence, youre not going to have anybody in the store. I think what were doing on a thoughtful basis is good for the stores as well as good for the consumers Going Forward and keeps health front and center. I think you got to get the balance right. I think we got it right. Neil all right. We will watch it very closely. Connecticut Governor Ned Lamont, very good seeing you again. Thanks for coming on. Nice to see you, neil. Thanks. Neil all right. We will be watching those developments closely here. I was looking at this and it looks like there are 18 states where these various protests are going on. They dont necessarily have to be against the governor. They could be in municipalities. For example, in southern california, there are protests right now about beaches that are closed there but not elsewhere in the state, so it is limited to those areas that are directly affected by either a governors order or mayors order. So we will be following that. And how that all sorts out. Because politically, its like a grenade. Stay with us. With coronavirus spreading, people at higher risk must take extra precautions. You are at higher risk if you are over 65, or if you have an underlying medical condition. Please visit coronavirus. Gov for more information. In california it has been a lot of confusion. The governor reopened all the beaches a week ago and then said everyone seems to be violating distancing provisions, he was threatening to close them. The only ones he targeted were Orange County and before that started out, san diego, we are honoring distancing and dont think we should be in colluded. Something they said or the mayor said got that changed and those beautiful beaches are open. The mayor of san diego has one of the more enviable jobs on the planet. Good to have you. Thank you. Neil i always want to talk about san diego and why it stays in the same couple of degrees yearround. You have every right to be let me ask about what happened on the beach, you spoke out, your community spoke out. We have a plan that is working and we dont need a 1sizefitsall policy. We came up with a plan driven by lifeguards in san diego, professionals that are protecting people. I got the coastal city mayors together, a Bipartisan Group and Public Health officials and we have a clear, phased approach. You can go in the water, you can swim, you can run, jog on the beach but cant sit down during this first phase. It is designed to get you that access and exercise but lets have clear rules of the road, lets follow them and it is working in san diego. That was our clear message of the type of thing you want up and down the coast of california but my strong message was san diego this are doing the right thing. It is difficult, lets keep it up. Neil i know when the beaches were first opened you were dealing with a heat wave, san diego was its own little universe. Im wondering how much the weather comes into play, how this frustrated people when there was a threat of shutting down all the beaches. It does, especially when everyone has been inside so long. We started by opening Neighborhood Parks a week ago with clear rules and i said lets do the right thing so we can go to the next phase. When you lay it out and tell people dos and donts they will do it. The same is happening at the beaches, we have lifeguards, cops educating, reminding people what to do, what not to do and that will take place over the weekend, the weather is going to be good, weekends are always more challenging but what you have seen particularly in san diego is we are all in this together and dont want to mess it up. We want to do the right thing and you will see that up and down the coast as more of these phased policies come into play. That is the right way to do it. Neil slow and steady wins the race, thank you very much. We appreciate your insight. We will follow that and how the beach debate is going. Only Orange County beaches are closed was the mayor said anyone violates, the governor said anyone violating distancing provisions will be closed up as well. They are trying to honor that and we will keep an eye on that and what is a dismal start to the month of may at the corner of wall and broadwood, oil taking it on the chin, technology issues, doesnt matter if you have betterthanexpected revenues or facebook or amazon, if you are talking about the Coronavirus Impacting your bottom line and jeff bezos comes out and says 4 billion is the cost of addressing vest, what was to be her Second Quarter profit, investors digest, we are out of here. So i listen to audible almost any time that i can. Its my own thing that i can do for me. Since i dont have time to read, i mean i might as well listen. If i want to catch up on the news, or history, or learn whats going on in the world, i can download a book and listen to it. I listen to spanish lessons sometimes to and from work. Yea, it makes me want to be better. Audible reintroduced this whole world to me. It changes your perspective. It makes you a different person. 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