Likely to hit around 15 . This morning, the private sector reports the loss of 20,236,000 jobs just in april. Reopening the economy is designed to try to bring back some or most of those jobs. So here we are. With all the bad Economic News breaking around us, what does the market do . Well, it rallies. For the third day in a row, the market opens higher. This is a bet on the recovery and a bet on the federal reserve, which is putting at least 4 trillion into the economy, and the treasury which is putting in over 3 trillion. Thats called stimulus. Investors appear to like it. The dow is going to be up about 140 points. Nice gain there. The s p up 15, nasdaq up about, what, 58, 60. Look at this. Oil, 23 a barrel. Thats where it is now. Earlier, it had been at 25. There has been a dramatic fall in supply and a hopedfor pickup in demand as some states start opening up their economies. So thats why we are in the mid 20s for the price of oil. But you can say goodbye to the gas price decline. At least for now. The National Average is back up to 1. 79. It was 1. 75 last week. On the show today, we will bring you the case of the dallas salon owner who defied the rules, opened up and is now sentenced to jail because she would not apologize for it. Mike pompeo will speak about the two americans captured in whats called the failed invasion of venezuela. Lots to go at this morning. Varney company is about to begin. Great citizens of this country to a certain extent and to a large extent as warriors. Theyre warriors. We cant keep our country closed. We have to open our country. Somebody said oh, we could keep it for the next 18 months, we could keep it for the next two years. We have a great country. We cant keep it closed. I mean, ive had doctors say why dont we close it for a couple of years. Because the United States of america. Stuart watch out there. The president says the country needs to reopen. Lots of evidence of that. Including the report from disney. They took a big hit to their profits because the theme parks are closed, and other reasons. Lauren simonetti, how bad was the hit to disney . Tell us, lauren. Lauren a billion dollars if you look at the theme parks. Its amazing because they were open for most of the quarter, until march 12th. And it still cost disney a lot of money. When do they reopen . Thats the question. Well, its too early to tell but i can tell you this. In california, theme parks are in phase four of the reopening so we have awhile to go. In florida, theres a state task force looking at how to do this. It includes starting with 50 capacity, telling people over the age of 65 to stay home, but they are thinking about getting these parks open and ways to do it. Stuart hold on a second, lauren. Disney is also saying they want to try to reopen the Shanghai Disney theme park on may 11th. If they did that, they would restrict capacity, they would restrict the density of people going in. The park can actually hold 80,000 but they are trying to get 24,000 in as of may 11th. So theyve got a plan to reopen that particular park but my question to you is, and for everybody, is if they open, how many people will come . I dont think we got an answer to that. Lauren 24,000 out of 80,000 thats normal. Thats 30 capacity. Will 30 show up, i dont know. In china, they are also expecting them to present these qr codes to basically show their health status. Is that something that we adopt right here in the United States . I do not know. I know its a privacy invasion in many senses but that might be the direction that we are headed in. Yeah, monday, shanghai, they are opening. Stuart its a question for all businesses. If you open, will people come. We dont know the answer to it at this point. Lets transfer our attention to big tech. Because susan, come into this, they seem to be least affected by the virus shutdown. Big tech. Go. Susan confirmed by the earnings that we have seen. Apple, alphabet, microsoft, amazon, yes, they saw declines in sales probably in the first three months of this year but are still giving back money to shareholders and those stocks, by the way, are probably more insulated than anybody else. Take a look at apple. We are back above 300 a share. Dont forget, the record high was 330 so we are pretty close to that. They had an 8. 5 bond sale last night, taking advantage of low Interest Rates. Thats how they bring back their 200 billion in cash from offshore in order to fuel those buybacks, share buybacks which theyre still doing, up another 50 billion. Taking a look at the metrics of the s p 500, 20 of the index is now concentrated in those big tech names, apple, amazon, facebook, alphabet and microsoft. 20 of the s p 500 and in just one week we saw close to a quarter of a trillion dollars rotating into these big names. You can say that most of the bounceback from the depths of march have gone into big tech. Stuart a quarter of a trillion dollars. My goodness me. You know, it looks like big tech is leading this market just as it led the market before the shutdown began. Shah gilani is back with us. You say that the Big Tech Companies are going to continue to lead us higher . What do you say . Absolutely, stuart. As you mentioned, they have led the market higher since 2009. They will continue to lead the market. They are the goto vehicle for investors because they have everything thats necessary to create huge profits, huge cash flow, tons of stacks of cash, if you will, and they all have moats pretty much around their businesses. No one is going to get in behind google and challenge google. No one will get in behind facebook and challenge facebook, or microsoft, or netflix, or any of the leaders. And they are going to continue to draw investor attention because they are where the profits are. Its really that simple. They have lifted the market. They will continue. As long as money pours into big tech stocks, the money will continue to go higher. Stuart to me, the problem overall, you open up businesses gradually in america but you cant guarantee that people will use those businesses. A store opens up, will people come in to buy. A restaurant opens up, will people come in to eat. We simply dont know that yet. But shah, i suspect that if the comeback is slow, graand gradua and people are not that willing to go out and buy and eat, i suspect the market may take a hit. What say you . Yes, stuart, thats entirely possible. Really right now, the market is relying on the big tech stocks. If for any reason investors felt the market underneath the big tech stocks and the big tech stocks come down because theres net selling elsewhere, then the market may falter. I believe that we are going to see the economy get hit in a very hard, ugly way. We know the unemployment numbers are already terrible. I think they are going to get worse. I think if we dont get the economy open, if folks dont get back to work, i believe investors will take a look at the longterm prospects for the economy and say its probably unlikely that we are going to have any kind of vshape. If we have an lshaped recovery, the markets eventually are going to be exhausted and i think there will be some net selling. Were not there yet and i think it will be a function of seeing very ugly economic numbers come out and we have the markets so far have discounted all the bad news thats come its way. Stuart look, 20,236,000 private sector jobs lost, lost in april and the markets going to open higher on the morning that that news is announced. Shah gilani, thanks for joining us. Im sure we will see a lot of you in the near future. Thank you. Look at General Motors. Sales down 7 last quarter. That was not that bad, but how are they going to do in the Second Quarter . Ashley, do they have enough money to weather the Second Quarter storm that they know is coming . Ashley they know its coming. At the end of the First Quarter they had 33. 4 billion in cash. The company saying on the Conference Call this morning that yes, they believe that they have enough to weather the storm of this shutdown. Dont forget, detroit and elsewhere shut down midmarch. They burned through 903 million in cash in the First Quarter but they are seeing some signs of improvement overseas. In china, for instance, in the month of april, they saw double digit sales numbers. So that provides a lot of optimism as we head towards reopening the factories in the United States. They are still targeting all the big three auto makers targeting may 18th to begin limited production. Stuart the stock, General Motors, up 7 . Best in a long time. Theres more big names we are following for you. Just look at beyond meat. They just had a huge quarter. Revenue up 140 . They have nixed their forecast for the rest of the year. They dont know whats going to happen with this virus. Look at this. The stock is up 49 in april and its going to pop again at the open today, up about 9. 5 . 109 on beyond meat. Activision blizzard, the virus gave their business a boost. People stuck at home. The stock is near a twoyear high. Their latest release, call of duty war zone, 60 million players already and that helped them reach the 1. 8 billion worth of revenue they got in the First Quarter. Stocks up 8 . How about electronic arts, another gaming company. They also had a pretty good quarter but they say the shutdown of sports may affect their bottom line. That stock is down 3 . Cvs, nice jump in business. The virus, same store sales are up around 9 . More people looking to fill prescriptions. The company is planning on adding more drivethrough testing to their locations. The stock is up 3 . Whats the news on uber . I see the stock down a fraction. Susan confirming, stu, that they are going to lay off around 3700 fulltime employees. They employ around 22,000 around the world. This has been rumored for awhile that they might be slicing around 20 of their staff. 3700, a little bit under 20 but still significant and Dara Khosrowshahi will forego his pay for the rest of the year. These are tough times, they admit that, because they are reducing Customer Support and recruiting teams due to lower trip volumes in the ride segment and the company is enacting a hiring freeze. In some markets, in fact most markets, some would say at least 30 of ride hailing has been cut because of coronavirus and covid19, people are stuck at home, told to stay home so they arent going outside to travel. Uber eats isnt really making up for that. Some markets, maybe they are up 50 in deliveries, food deliveries, but they have also been retrenching for smaller markets as well in the next few weeks. We will be hearing from uber at the end of the day tomorrow when they release the results. Stuart i would love to jump into a stock that i like, a company that i like and a business that i think will go gangbusters later. I havent got the courage to jump in yet. All right. Happening next hour, secretary of state pompeo holds a News Conference on those u. S. Mercenaries who attempted allegedly to overthrow the maduro regime in venezuela. We are listening to anything he has to say about china and the origins of the virus, in the next hour, coming up. Futures market, we are showing a big gain. Well, not huge, but a solid gain, up about 150 points for the dow. Up about 70 for the nasdaq. Big show coming up for you. Still to come, brian bremberg on the country reopening. Judge napolitano on the salon owner in texas who was thrown in jail for reopening early and not apologizing for it. Louisiana senator bill cassidy. Half the Oil Companies in his sth state could go bankrupt. We will discuss that. And mike aubrey on home prices. He says they are going up. Zillow says they are going down. We will sort it out. The white house now talking about winding down the virus task force as states begin to reopen. Is that a good idea at this point . We will get the medical idea, medical opinion, from dr. Marc siegel. He joins me next. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief announcer reliability is everything. So, if your networks down, youre down. Verizon knows your customers need to reach you seamlessly. Your team needs to work from different places across many devices. Plus, you want the security trusted by some of the Largest Companies in the world. And thats why you trust us. The most Reliable Network in america. Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Tariffs at a minimum are the greatest negotiating tool that we have ever devised that were never used for negotiation. President xi only made the deal with us, they are going to buy 250 billion, now, we will have to see whats going on because of what happened. This was done, you know, months before the virus. But were Getting Better by 250 billion worth of product. 250 billion. They didnt want to buy from us. They took advantage of our country. Now they have to buy and if they dont buy, well terminate the deal. Very simple. Stuart now they have to buy. If they dont buy, we will terminate the deal, very simple. Thats the president , right there. Come in, Edward Lawrence out of our washington bureau, because i want to know if china is buying our stuff the way theyre supposed to buy our stuff right now. Reporter yeah. It depends on how you look at the data here. I can tell you that the chinese, or my trade sources are telling me the chinese have made some inquiries about relaxing the amount that they have to buy here. U. S. Trade representative official, senior u. S. Trade representative official tells me they have had two meetings, two monthly meetings designated under the phase one trade deal where they work out a range of issues and there are a range of issues that they are working out. I can tell you, though, in one voice from the u. S. Trade Representatives Office to the white house, they have told china that they have to follow through on the deal and that includes buying 200 billion in goods and services that china agreed to in this. Now, the chinese data shows for the first three months of this year exports of soybeans, for example, to china was up 210 but then in march, weakness showed. The u. S. Agriculture data shows for two weeks in march, there were no exports of china no exports of soybeans to china. Thats when the coronavirus was really hitting us here. You can also see in april there has been minimal amounts of soybeans going there. The administration is watching this very closely to make sure the chinese follow through and as the president , as you know, talking about possible additional tariffs for chinas role in sort of Holding Back Information related to the coronavirus. They are also watching closely this trade deal and how its followed through. Stuart its an issue, what they buy, when they buy it, how much they buy. That is now an issue in the trade talks. Got that. Edward, thank you. We are getting some clarity on President Trump, reports on those reports hes looking to scale back the task force. Now, he had a fourpart tweet just a few moments ago. In part, he said this. The task force will continue on indefinitely with its focus on safety and opening up our country again. We may add or subtract people. Dr. Marc siegel is with us, fox news medical contributor. Doctor, from the medical point of view, you want the task force to continue on indefinitely, or would you rather shut it down . I like the idea of it continuing on indefinitely, stuart, from the point of view of advising the president. I think what hes trying to do here, and hes right to do it, is to make the statement that this has been a political football. You have the press conferences and then the political media, not the medical media, goes crazy trying to analyze every single word, to undermine the president. The real purpose there is to provide information to the American Public and to advise the president. I think dr. Fauci of nih, dr. Redfield of cdc, dr. Birx, who is coordinating the task force, i think department of homeland security, i think alex azar of hhs and the Vice President , of course, are all still going to be involved. I dont see a stepdown here. I think its an issue of getting out of the political infighting and all of this anger thats directed. Stuart get rid of the politics. That would be a huge big deal. Right. Now, talk to me about pfizer. They are testing their virus on humans virus vaccine, i should say, on humans. Seems like everybodys getting a vaccine. Are we going to end up with multiple vaccines and if we do, who decides which ones we are going to use . Stuart, this is something you are very fond of which is called competition. You get a lot of candidates into the marketplace, they are all fighting back and forth who gets the best vaccine. The one pfizer has ahold of is from a German Company called biontech. They are expected to Start Testing volunteers in the United States. It will be up to 8,000 in a month. That is a very interesting, Exciting New Technology that uses genetic messengering to create a protein and then an antibody. Its brand new. I cant tell you if its going to work but it looks very promising. Some of the older candidates are a little bit some of the other candidates are a little older. Whats really exciting about the one you are talking about now is that pfizer is involved so that means big guns. Johnson johnson is involved with another one. Theres one thats coming out of england, oxford has developed one that another major drug company is involved with. So we have issues here where we have several going on at once. Im not going to predict which one wins. Dr. Fauci at nih likes moderna. Thats a Small Company but thats now going to