Yesterdays stomach churning day during which the dow saw its fourth biggest point drop in history. 1,861 points. Equity losses of 2 trillion dollars just shaved right off. One of the triggers from yesterday is the same one thats pulling the oxygen out of todays rally. Worries about a longer recovery and a second wave of the coronavirus pandemic rearing its ugly head. One of the most widely followed economists on the street, in this final hour, what he sees as the biggest obstacle to a more persistent and longer stretched market and economic rebound. Plus, College Football taking baby steps the put the pandemic behind it as players get the green light to begin workouts this coming monday. So could we really see oregon and cal and ucla and yes usc football in the fall . The commissioner of the pac 12 is here in a fox business exclusive. Yes, i will ask, will there be fans . Plus poking fun at the brand new playstation 5 . Portfolio margin protectors and charlie breaks it on the players latest pitch to Major League Baseball starting its season again. Less than an hour to the closing bell this friday. Lets start the claman countdown. I want to look at amazons stock right now. Down just fractionally, but the breaking news is that the wall street journal is just now hitting the tape with this story. California investigators are examining amazon. Coms business practices. According to people familiar with the matter, the state is focused on how amazon treats sellers in its online marketplace, particularly as amazon is accused already of bolstering its own products that compete with third party sellers. Kind of taking a few ideas from the third party guys and making them their own. The news comes as amazon faces antitrust scrutiny both from the u. S. And european regulators. Stock down about 8 10 of a percent. Let me get to this, normally a double downgrade sounds like a death knell for a stock during at least one session, but look at tesla. While losses have accelerated in the last few minutes, the stock is nowhere near as bad as it could be, despite Morgan Stanley and Goldman Sachs both cutting their rating on the stock. Morgan to a sell. Goldman to a hold. But look at this, we have tesla down just 4 1 4 . Again, it had been certainly higher. Both say that the recent runup in tesla where it crossed the 1,000 mark, that it was time for investors to take a bit of a breather. Right now it is at 931. 11. Flip it over to check out dave and busters, Ticker Symbol play, if ever there was a company that involved a lot of touching surfaces it is dave and busters, but the stock is up 12 right now, march 18th, this was 4. 60 a share stock after the fast spreading coronavirus forced its stores to shutter. Today even as the party and play time venue reveals a wider loss due to the pandemic, its faster than expected reopening plan is scoring prizes with analysts who showered the stock with price target hikes. Let me flip it over to game stock. Activists and investors have gained a seat at the table. The video game retailers board, being locked into a pretty vicious proxy battle with gamestop. The stock is up about 6 1 2 . Maybe fresh pair or two of eyes on how to run the business. Its a stock party at party city at this hour, after the company said it has fully reopened over 85 of the stores, expanded curbside pickup, of which i just took by the way, yeah, i had the graduation balloons, party city worked perfectly. They also launched same day delivery. Party city is up 26 right now. Why . Well, aside from what i just told you, it also announced a 100 Million Dollars bond deal that will slice off about a quarter of its debt. Do you want the good news first . Or the bad news . Im the kind of person who wants the bad news first. Get it out of the way. American airlines, Second Quarter revenue will be down 90 . Thats the bad news. The good news, the airline said it expects to halt its daily cash burn by the end of this year as costcutting measures and an up tick in travel demand kicks in so that stock is up 14 1 2 . And, you know, sometimes other airlines get colored by the same issue from one airline, lets take a look at some of the other airlines, and we know that many of them certainly sold off yesterday, but theyre looking a little bit stronger today. We do have ual up 16 , off the highs of the session, but yesterday this is the picture that we saw, what a change. It was the biggest laggard. United airlines on the dow transports yesterday, but flip it over to today, and it is a much better picture. All right. Besides united, take a look at the stocks that suffered the biggest reversals of fortune yesterday, and their comebacks despite the market fizzle right now. The blue chip disaster yesterday was boeing. Boeing nose dived 16 , but as we look at it today, boeing is certainly catching a little bit of air here, up 8. 8 . To the s p 500, the worst performing yesterday norwegian cruiseline, sank the most. It was very ugly yesterday, but today it is staying nicely afloat as we look at the intraday picture. You can really kind of get a sense that up 15 1 2 , nice picture, and then on the nasdaq, Chinese Group down 32 just 24 hours ago, well after that ugly picture, it is up 17 lets call it 18 . What are we to make of these opposed moves . Lets bring in wall streets most closely followed economist the chief Economic Advisor mohammed el erian. Friday afternoon, we know it is folly to guess what the market is thinking on any day, but help us understand what happened between yesterday and today. Let me thank you liz for having me on and congratulations on the graduation party. Thats really exciting. Liz thank you. We were powered by three things, one is healthy reopenings, the second is a ton of fed support, liquidity support and the third was a fear of missing out, there is no alternative conditioning. Yesterday we lost a couple of those. One is the healthy reopening with news about the spike in infections and hospitallizations in certain parts, but also the market was uncomfortable during chair powells Conference Press conference, not the statement, press conference. Today were revisiting the fed. It turns out the press conference actually wasnt as bad as people thought at the time. And theres somewhat less concern about the healthy reopenings, but this is going to be really bumpy, and we should be ready for ant co a continued roller coaster. Liz what should our viewers make about that out of the 500 s p stocks, 499 yesterday were losers, in the red, and only one was higher, and that one was kroger, the prepper stock; right . What are we supposed to think about that . And then does all the coronavirus worries vaporize today now that were up . When you have a sharp pullback, contagion, people sell whatever they can sell and you get a herd behavior. It is not surprising that you got the 499 out of 500, in fact everything went down yesterday that had any bit of risk associated to it. Look, there is a tugofwar going on, and it involves the buy the dip optimistic mentality, versus the event risk. People look forward just before the weekend and say look whats going on. I have the weekend of Uncertain Health news. I have chairman powell going to capitol hill next week to testify. Lots of data. What you see is this tugofwar ahead of the weekend. On the one side, s the retail investor, optimistic. On the other side is the professional investor, more cautious about the weekend. Liz yeah. Well, weekends have been a little frightening as we head into them because people just dont know what kind of news is going to come out, but you know, im not one to always look back in the rearview mirror, but earlier this week, the tenyear yield, because, you know, this gives us a sense of whether theres a real flight to quality or fear, the tenyear yield was at. 94,. 96 and suddenly were below. 7 for the tenyear yield. I mean, thats a pretty dramatic move considering that again, yesterday we had fear, the volatility index spiking the most in two years. So tell our viewers what to think here. I mean, you could say stay the course, but is there some secret that the smart money so called knows . So i always tell people what you end up doing should depend on two things. One is are you able to afford mistakes because most mistakes are recoverable. Some are not. And the second thing i tell them is understand how you would react when you hit a session like yesterday. Will you be able to resist the behavioral traps or not . My own gut feeling here is that we are [inaudible] on valuations that if you continue to buy at these levels, you are buying because you think we will have healthy reopenings, that will be a v, not a bumpy check mark, and you believe that the Federal Reserve will compensate for any weakness in fundamentals. That is what youre betting on. If you feel comfortable doing it, go right ahead. I have taken money off the table a couple of weeks ago. It didnt look like such a good idea to begin with. It looked better yesterday. It doesnt look so good today. You know what . I would rather wait and rather make the mistake of bumping in the market than having a series of days like yesterday. Thats my own preference and others have different feelings about whats going on right now. Liz mohammed, last i checked, youre pretty good guy to follow, so, you know, you can say thats just me, but i like your thinking. It is great to see you, and try and have a relaxing weekend this weekend, mohammed, thanks. You too, and congratulations again. Liz thank you, thank you. Your daughters coming up next year, i know that. The closing bell ringing in 48 minutes. Were picking up a little bit of steam here, guys; right . The dow adding close to 200 points in just the last 11 minutes to stand right now at a gain of 376. Come on. Youve got to stay with us and watch this one. Its a slamdunk for Dicks Sporting Goods investors, shares are moving higher after the athletic retailer announced it is bringing its dividend of 31 1 4 cents a share. The stock is up 8 . With so many other companies desperate to preserve cash during the worst of the pandemic, back in march and april, dicks had suspended its dividend pretty much early april and now it is back. From Sports Stores to College Sports, major news coming out of division i football, a plan is in place for the athletes of the pac 12 to start summer workouts on monday, but that doesnt answer this question, will there be football in the fall, and will there be fans . A fox business exclusive with the pac 12 commissioner larry scott. Thats next on the claman countdown. Look at that. The dow is up 400 points now. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. 100 online car buying. Carvanas had a lot of firsts. Car vending machines. And now, putting you in control of your financing. At carvana, get personalized terms, browse for cars that fit your budget, then customize your down payment and monthly payment. And these arent madeup numbers. Its what youll really pay, right down to the penny. Whether youre shopping or just looking. It only takes a few seconds, and it wont affect your credit score. Finally a totally different way to finance your ride. Only from carvana. The new way to buy a car. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Liz breaking news, 72 hours away from ncaa athletes kicking off summer workouts and yes that includes College Football. Football players hope that of course they will see games in this fall coming our way in a few months. Heres what the committee for at least the ncaa is recommending, eight hours per week for weight training, six hours for team walkthroughs and six hours per week for team meetings. This as one of the Top College Conferences in the nation is now ready to allow all its athletes back on the practice field this monday. Here in a fox business exclusive, we welcome the commissioner of the pac 12, larry scott. Larry, as a pac 12 kid, cal bears, does this officially mean there will be College Football this fall . I know thats the next decision to be taken, assuming things keep going well. Whats happening now, starting monday in our league is the restrictions have been lifted leaguewide so that universities that are in state, where gyms are open, where restrictions have been eased, they can start allowing student athletes back for what we call voluntary workouts. Thats about strength and conditioning, not going to be on field, not going to be on the courts yet. It is about allowing student athletes that want to to get back, start training, get their conditioning back, and of course get tested for the virus and make sure theyre ready to go. Liz dont kill me for asking this because im really pushing you, but will there be fans . Will it be at 20 . Will there be no one . Were all dying to know if we can cheer on whether its the cardinals, not the trojans, i cant stand the trojans, sorry, they are a big rival there too, but you know from the ducks to everybody else, sundevils, in the pac 12 . You know, if things keep progressing here in california and now restaurants are open for outdoor dining, gyms are opening, if things keep progressing, i think we are going to see fans throughout our conference, but i think it will be patchwork, state by state, maybe county by county, certainly in the western part of the united states, i do not expect full stadium from the beginning. I think we will walk before we jog before we run. Not just to make sure that were doing it safely for everyone involved but to kind of build the trust and confidence in getting back to mass gatherings. Liz i started looking through all of the pac 12 plans. I know with cal, they are yet to making a final decision, but they played unlv august 29th on the schedule. Ucla say they will start doing end of june workouts. Trojans nothing official. Arizona ready. I mean both university of arizona, arizona state, boulder teams ready to go, oregon, you know, the list goes on here, utah as well, good to go on the 15th. But tell me what happens if a player tests positive . You know, are there restrictions as to whether the whole thing will shut down or just an individual team . And then are they pulled off the schedule . Obviously the health and safety of student athletes and the staff and those surrounding them is going to be a paramount importance. What i anticipate were working through the details still. What i anticipate is that not only in our league but other leagues with nonconference competition, we will have common protocols for testing to make sure or all reasonable efforts have been made to make sure theres no athletes or no staff that have the virus before games take place. If there are student athletes or staff that have the virus, they obviously will go through a quarantine period, sit out, and those that were in very close contact as well. The details are still being devised by our medical experts. Were very fortunate as you know liz in this league weve got schools like uc berkeley, stanford, university of washington, ucla with some of the most world class medical centers, University Hospitals in the country, weve got Infectious Disease experts helping us design these plans. Part of it will be Contact Tracing and quarantining, as far as the state policies. Its why i think there will be an emphasis on prevention, social distancing, hygiene, and making sure theres a staged approach on athletes coming back and we dont have big outbreaks amongst teams. Liz we are looking at on the screen of Something Else that matters, and that is the money. In the aggregate, we have 78 Million Dollars per school. This is an average that comes gets raked in from just football, a total revenue loss for all of ncaa of 4. 1 billion if there arent games. I know that the health is the most important thing, but at what point how do you make up that kind of revenue if its not there . There is no play book for what you do without football. Our Athletics Department invests the revenue that they generate to support, you know, on average 24 sports, men and women, title ix compliant in our conference. Without football football is the engine driving the train of College Sports. We have 7,000 student athletes that benefit from the opportunity to play College Sports in our conference. If theres no football, schools are going to have to borrow, have to figure out a way to keep supporting the student athletes for their scholarships until the revenue can come back again and hopefully it doesnt result in a reduction of activities for other student athletes as well. Liz isnt that the truth . Football rakes it in. It is the engine and really kind of funds the rest of some of the less popular or the sports that really need it and dont have that kind of income. We wish you the best of luck on monday. Thank you. Liz yeah. I was going to say most people dont realize that College Athletics is a missionbased activity. It is about supporting as many student athletes as possible. Were hopeful that the revenue does come in and keep supporting the opportunities for student athletes. Liz good to see you, larry. Monday is a big day for you guys. Congrats. Thanks for joining us. We appreciate it. Closing bell, we are 37 minutes away. You know, were still seeing these gains. Were up 268 for the dow. The s p comfortably higher by 16. Nasdaq up 26. But it is a volatile day. We did just chop 100 points off the dow in the last couple of minutes. So were watching every tick of this market. Oh, by the way, watching, have you looked at this . The design of sonys new playstation 5 already getting mocked for