as the original aid package and agreement expires. there is talk of the stimulus plan, the environment for them does not look good. we ll go live to a number of national airports. linear air, big in the private arena. they have and all tern tiff for you. they say business is booming. president will be out to new jersey, a fund-raising event at his club. he will be whisked back to the white house. republicans and democrats are pulling out all stops to raise as much money as they possibly can. back to the stimulus measure. what we can make of it as it comes to pass, not that long ago, a lot of people were worried about the government shutting down and wouldn t come together in an agreement to keep government lights on. at the last minute they cobbled together something. the president signed off on late last night. there is no government shutdown. for the naysayers out there, assuming all the worse when it comes to stimulus, maybe not. chad what are you hearing? reporter: let me
at here. what is happening in new york city bears watching because if this phase one plan goes well in couple weeks, they could extend to restaurants, other offerings. it gets a little it about more involved than that. kristina partsinevelos following it all. kristina. reporter: neil, you said the word busier and that is a great way to explain it. there is a lot more traffic on the street. a lot more people on the corners. i m seeing people waiting in line on bus. a lot of retailers in the city remain closed. i m in times square, normally we would be packed like sardines trying to get to a shop. the old navy behind me, the gap behind me kept their doors closed. phase one is supposed to allow, agricultural, manufacturers, construction sites, retailers all to open their doors but we re seeing not even curbside pickup. a lot of major retailers saying they re holding off. they want to see if people are comfortable going back out on the street especially since many businesses urge
still not many people. we will be tracking this story throughout our three hours. nearly half a million people will be returning to work in the city. and they are returning to work, by the way, to a city whose mayor is pushing to defund the police department in the wake of the george floyd protests. a lot of pushback on this, as you can imagine. we will get into it. including from the president. he tweeted this just moments ago. law and order, not defund and abolish the police. the radical left democrats have gone crazy. and hillary clinton, by the way, well, she s had another deplorables moment when speaking about trump reporters and we will have that for you as well. i m ashley webster. the big story for dyou today on monday, the markets pointing upwards. varney & company begins right now. this will go down in history as the biggest positive data shock for the markets and the economy. it s some combination of an incredibly resilient economy that s bouncing back, the impac
and oil is up to the tune of 25%. the jobless claims rocked the street. we were expecting them to be bad. we were not expecting them to be 6.6 million bad. jackie deangelis, jackie. reporter: good afternoon to you, neil. let s go ahead to start with the tweet from the president that had the dow jones up more than 300 points now. the president said, i spoke to my friend, mbs, crown prince of saudi arabia who spoke with president putin of russia and i expect and hope they will be cutting back approximately 10 million barrels and maybe substantially more, which if it happens will be great for the oil and gas industry. the markets are rallying on this, because low oil prices are good for consumers and businesses that use oil. statement, you don t want the price to be so low that the shale producers go out of business. that the oil producers have a hard time, staying, conducting, keeping things going. so prices spiking today, more than 20% is a positive sign that it is all moving
continuing a trend that shows so far, university of michigan sentiment, other surveys we re doing okay and things are going okay. in the middle of all of that, you have a report out of fedex saying we re not doing okay. telegraphing problems because of the trade war. the trade war is one of the big reasons why the fed will supposedly move today. it is all in what the fed lays out after it makes its move. the consensus seems to coalesce out of quarter-point cut to interest rates. would bring overnight lending rate from 1.75 rate to 2%, from around 2.25 we are right now. that can jostle wildly. let s get the read on all of that charles payne, thank you for helping out on your world yesterday on fox news. what do you expect first off? 25 basis point rate cut in part because the wall street expects it, to such a degree yeah it is. if you think a trump tweet is tough, wall street selloff of several hundred points. i mean they, they really have the market cornered when it com