inverted term structure structure and buying the march 157 straddles. >> technology grinds lower, selling call credit spreads. >> selling call credit spreads. >> we did a little different but big week incredible week that's it for us see you next us. "mad money" with jim cramer starts right now. hey, i'm c kraichler i'm trying to make you money my job is not just to entertain but teach. call me or tweet me. this is one tough market dow is down before rallying to

close down 257 points. s&p fell, nasdaq lost 1.87%. i think that rally that took people's breath away was started with short sellers who were covering or closing out the positions. they're getting concerned that the drug companies working on the drugs that would lessen the lethality of corona may have had success. fear is more powerful. but this is driven by a justifiable fear coupled with the fear of catching it yourself it's threatening to bring commerce to a full stop. aside from the pallets of purell passing through the portals of the shaky retail establishments. we got through a roller coaster of a week marked by the emergence of terrifying sector markets. oil and gas, you know i hate the stocks wow. justified, travel and leisure,

retail, some better than others. andthe hideous financials, all which are worrisome because the borrowers are numerous in the sectors and are so good they can hurt lenders this market is longp standing gains with breathtaking speed. but those moves pale in comparison to the treasury yields ten-year is paying you if i weren't jimmy chill i would say it's insane. right now the bond market is calling the two. bond prices are blasting the highs. they might as well be screaming at you to sell stocks before the coronavirus induced recession hits irony, the bond market screaming as we got one more phenomenal employment report this morning those are being dismissed as rearview mirror gazing the market senses that something dreadful is right around the corner, a fallout, freezup

we might see the signs of it when we come into work on monday with that in mind, why don't we go to our game plan, what i think is going to be another shaky week we're going to be greeted by the tally of new coronavirus estimates. i've got to tell you, i think those define this market we care about the numbers from china, where the regime's totaltain method seem like they've got the situation under control. but we care about the numbers of the roast of the world where it's spreading it's spreading here. the whole country is on edge because we don't have immunity, vaccine or treatment the government's response leaves a lot to be designered. it is potential to see the expontial number of increases. the numbers could go to zero they might even go negative. i've spoken to dozens of people trying to figure out if it's just the fear factor driving the

bond market and i get mixed reports. everything from total flight to quality to total manipulation. in the end the new cases are the new cases. and new desks have more to do with the directs of the stock market than the fundamentals i wish the chinese would sell their trillion dollars in bond we need that supply. that was our biggest worry for years. now we're begging them to selling. the movement we stop paying attention is the moment we lose our rigor. that's what i can't wait to see what ford industries has to say. i'm betting they're going to give us a lot of insight into the state of the seller. their inventories they tend to bloom when people are scared people use that overused cliché but canary in a coal mine, but this is correct. gasoline prices went down. oil fell 10% today

i bet it means nothing for the stock, because well, what really matters is whether you want to shop for an rv during a pandemic the online subscription service that's like having a digital personal shopper, we visited in san francisco, they have profitability. the stock is now down 11%. has something changed? i suspect the model is ideal for this environment we'll see. you want something that's working here and can keep working? how about franco nevada? now that's, i'm sorry, franky nevada i got a lot of criticism from nevadans this week like i should pronounce it like nevada anyway, these are companies -- this is a company with mixed streams of royalties and mineral resources including of course gold you know i think gold is the perfectly positioned commodity because it's a safe haven in times of economic chaos. i try to stay chill but it is

difficult to contain myself when i see someone flock into my twitter file and say do you like gold i have for my whole 15 run we rang the opening bell at the new york stock exchange. i was hoping you had that -- she's out fat. okay hey, there's my nephew, cliff mason. our head writer and only writer. anyway, he's the guy that went down like this this is exciting for me. has the consumer gone under ground let's find out when sporting goods reports. manlment here is transparent i bet they'll give us a look and feel for the past few weeks. i'm refinancing my house getting an amazing rate as the 10 year settled at a record low.

but are people still buying new homes with this new found accidental affordability we'll know more when we see the mortgage applications numbers monday if they're not up you're going to hear recession, recession there's a good reason. dollar general and dollar tree, dollar general has been hitting it out of the park i bet it shines. speaking of red hot retailers, how about beauty i'm torn here. people buying ultta seem to believe it's recession proof, but i'd say it's recession resistant. i'm concerned about anything retail, especially at a hair salon component. you can't get your hair done through amazon yet after the close we get results from broadcom and adobe. it's a hybrid including parts for apple and software good yield why don't you follow along by joining the action alerts

plus.com club. as for adobe it has the ability to separate between tech and everything else. because you can use the software from home if you need to stay home it allows you to be how do you say, more creative than you'd be otherwise. if they see a slowdown, friday is going to be nasty it's a big company finally there's gap, which just appointed a new ceo, sonia seagal with retail you never know a big chunk of gap is mall apparel and mall is getting mauled on friday we're supposed to hear from illinois tours. the meeting was canceled because well, there's a massive wave of canceled events. and i think i don't have to tell you why that is. but think of these cancellations as a reminder, this is not business as usual. in many cases, it's no business at all the only thing really lacking next week is travel.

cruise lines for example, they traded lows today, a little bit of bounce, mid day a bounce too. i wonder if these dividends are sustainable for royal cribbian norwegian has already paid the price. i'm sure the airlines are better than the cruise lines. but how much better? they spent a lot of money on buying back stock. ouch pay attention to what these companies have to say next week, but don't forget that at least for the moment, covivd-19 is in the drivers seat mike in florida. mike >> caller: yeah, this is mike. >> speak to me. >> caller: i'm calling about amc. the theater. i'm looking for some cheap stocks and i came across this stock, and it -- >> you mean that's -- that's a coronavirus stock. they did just do something rather extraordinary they eliminated dividend buyback

stock. that was smart i think it relies on gatherings. and if you have to gather right now, it's a no-fly zone. zbludith in alabama. >> caller: hello, jim. i'm a longtime investor. >> thank you. >> caller: for listening to you. >> thank you what's up? >> caller: i inherited around 1,2 1,200 shares of boeing and have sold the boeing stock rose up to 400 plus and now it's in a nosedive with the various problems and the coronavirus. i neepd to know what to do with my other 600. >> i don't want to sell boeing down here. i didn't like that article in the "new york times" about david calhoun, made the company seem i think much worse than it is. i think the company made mistakes i don't think it's a bad company. that's only based on a 100 year

look i don't want you to sell low next week, pay attention to earnings on mad tonight, a thunk, back to market turmoil i'm talking with a ceo as the coronavirus continues to spread where are american opportunities if nerk goes into the bunker with the market heading lower today i'm talking with one of the wisest women on wall street to find out her take on the volatility and what to do. do not miss my sit-down with founder tally crowchet and stay with cramer don't miss a second of modmoin. follow @jimcramer. send him an email to

madmoney @cnbc.com head to madmoney.cnbc.com. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

when yowhat do you see?itical issues facing our world, we see a billion more people breathing free. we see access to fresh food being the global norm, not the exception. we see homes staying cooler, without the planet getting warmer. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved.

when the market turns this

ugly, nobody has time for nuance if a company with a high-flying stock looks to be a third quart we ask questions later we saw this play out on wednesday night with one of my favorites, a cloud-based software analytics play, what people thought were confusing numbers, i didn't. the company delivered better than expected sales, misguidance did fall short for some. the full year in response the stock plunged. it was already down 20 bucks from its highs going into the quarter. however i think this is a snap judgment and it may be wrong. they're changing their business model. they're prioritizing a subscription-based model that generates recurring revenue. we've seen this before from other software companies while confusing at first tends to be very lucrative for those who stay with it let's check in with doug murg to

talk about where this company is headed welcome back to "mad money." >> very excited to be here congratulations again on 15 amazing years. >> you're very kind-thank you, doug it was a big day for us. thank you. i want to get right itto it in e sense that i went over your quarter several times and tried to do it without looking, correct me if i'm wrong, this is maybe your best quarter you've had and i thought the guidance was good and strong. am i just a dreamer or -- because that was not the consensus view >> so, as you highlighted at the beginning of the show, we have been going through a transition from a perpetual license dop renewable. we've transitioned now 99% in q4 of all revenue, all transactions to term in cloud that's huge. within that shift we also are growing a cloud business like crazy, from 0% of our business

in arr being in cloud five years ago to 35% of software to being in cloud on an annual recurring revenue basis it was a spectacular year and year and phenomenal guide over the last three years. if you're looking at gap metrics, that's where i think people can get confused. >> let's go over this number, this arr, annual recurring revenue. this has often been the tell for me about when a company that's switching models is about to explode in earnings, not go down 54 would lead me to believe that next year is going to be gigantic that's the way it's worked you and i have been around for a long time. we know that arr is the way to judge the future >> i agree completely. if you go back to q3 last year, we had a growth. we just exited q4 to 54%, so we

went 46, 52, 53, 54. 45% for this year. and a 40% compound annual growth over the next three years. if you look at $1.7 billion arr posting which we just did this q4, at a 40%, that gets you somewhere north of 4.5 billion over four years. when i look at awesome companies that are fully arr like salesforce or workday or service now, that is a growth rate that is at or above anything they've ever done on that same trajectory. >> good. i think people -- i saw this with adobe too you had to get in ahead. the analyst you think they must know it is amazing they don't i am going to talk about a jeff bezos product, the smartest man around what does splunk do with the "washington post," that they

love you so much >> as we talked about, our 3 main centers, the cyber community, infrastructure that keeps digital stuff running, and now with the acquisition of signal affects we're going after application development. "washington post" is using us across those core use cases. they've got avenue important new content management, distal content management system that we are ensuring stays up we're helping them analyze the activity from customers across the content. so in addition to keeping "washington post" running day in and day out, we're helping them understand what customers are doing on a day in and out basis with the content they post. >> we have to do the obvious because it's what's driving everything does splunk have to be face to face with big deals? because you have big deals can you really do them with a zoom video or do we have to say as long as the thing is going on, work from

home, make phone calls, but we're not going to close anything big >> it's a brave new world. we're all going to learn this in the coming months. like every other company should be doing, we're putting our employees' health and safety first. we are encouraging people to work from home luckily we have a zoom customer, slack customer there are a lot of digital companies we can lean on and move forward with business we've got a great install base, 20,000 customers that actively use splunch. over 80% come from that install base my hope is that for a lot of the trans transactions that are just expansions or capabilities from new products that can be attached to the existing contracts and we've got a great relationship with the buyers and procurement. we'll see like we all do i didn't think going into 2020 i'd be the ceo of a company that was going through something like coronavirus. >> we don't necessarily see less

demand for splunk do we been because of the coronavirus >> when i think out of the next two or three years and even the next few months, we feed into this whole digital transformation movement. if this becomes the new normal and we start to adapt to more of a social distancing or whatever the vernacular is that's popular on today's twitter feeds, that just means more digital usage. the companies that we are all relying on, all the digital properties, have slack as their backbone to make sure that their services work effectively. have splunks splufrpg as a backbone slack or zoom or aws as an overall customer of ours, whole host, google companies, facebook, if we all turn digital, that for me turns into the trend we've been seeing which is, i need to make sense of what's happening, i need to make it resilient, safe, which means more splunk. >> my viewers are going to say

what's touring go ahead, you always make this meaningful. >> the double enten draiz we love, alan touring, this was my walk-up music my first year to our ceo. >> good to see you smile thank you for your kind words about our 15th, and yeah, i didn't think that any illness was going to stop digitization that's not the way it works. thank you so much. good to see you, sir >> thank you, jim. good to he so you, too. you have to understand that there are some secular trends that will trans skoent scend the skriers. this stock has -- that's not going to be the case "mad money" will be right back ♪

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stay two nights and get a free night for your next stay. one night, two nights, free night. book now at bestwestern.com. welcome to the stay-at-home economy. with the coronavirus on the

verge of becoming a full-blown pandemic, the going out stocks keep getting battered. as i've told you, companies that rely on groups congregating, ire lines, cruise lines, live enter taimt, they've been pulverized these industries don't work when people are afraid to go outside. and covid-19 has us very, very afraid i'm worried about every one of those industries and the balance sheets within. they are where the holes are, they and the oil and gas companies have to let's say they have me concerned. i'm not hysterical i'm concerned. i'd be joking not to be. but people don't totally stop spendping money just because they stop going out. we still need to find ways to occupy our time. that's why the stay-at-home economy works here companies with products that you can enjoy from the comfort of your own home, the couch, the streaming services, soft where companies, all the package food

companies that make it possible to survive even without great taste while not leaving your house. covid-19 did not create the stay-at-home economy i started pushing this back in 2017 but this outbreak is pouring fuel on the fire let's revisit. three years ago we rolled out the first iteration, domino's businessa, pepsico, home depot and tjx, activision, blizzard, electronic arts, the two graphics chip makers amd and nvidia, we had ulta beauty so you could look your best, we also bought experienceal stocks like carnival. since then stay-at-home stocks have rallied at 90%. the only loser in the stay-at-home cohort was ulta, a retailer that never should have been on the list at the first

place. over the course of 2017 we added netflix, grubhub, alphabet and apple because they make it easy to keep yourself entertained 2018 we added more, took about mccormic for spices. i really stand by this one by the way in this market seasonings soso quarter i recommended disney which was jurtr just starting noodle spotify and pro lodgics for logistics for the stay-at-home economy which is so important because it rests on getting packages to your house and that's what it helps them to do. it said stay clear i started recommending shopify, it's up since then shopify is not done. which of these stocks are still worth owning what stays and goes? first the obvious. forget ulta beauty, cruise lines. the experienceal economy was struggling even before the coronavirus. now it's dead until the outbreak

is over. next let's go over group by group starting with fang, facebook, apple, netflix and google these are all stay at home, they're your content providers, keep you entertained or supplied with necessities they're all worth picking at i am not as concerned as others that the ad dollars will dry up. people will shop more online so the ad dollars will gravitate toward these companies apple is more complicated because of china it's a great long-term story stick with my mantra, own apple, don't trade it could it go down of course, it's a stock. do i like it you bet. we had a couple like shopfi, i think they can work. you can get by this logistics and hold on to it. shopify is a high flyers that

not profitable given it's down, you've got room video games the big publicly traded stocks have been hit or miss over the last couple of years because they were slow on the up take, fort night, stockpile. i take two quartervision activision in particular sees the best read on the mobile gaming which is why it's been -- i think you can stick with nvidia and amd, the latter had a fabulous quarter analysts being kpeelt ignored because of covid-19. it did finish up on the day. up with the package food plays pepsico up steady eddy companies that help you eat from home. and if you get the coronavirus, it can't hurt to replenish your electrolists with garretade.

delivery, horror show. i spent most of last year telling you to avoid grubhub too much competition domino's still working definitely fit into this model i like what we heard from the ceo. i recommend tjx and home depot they don't fit the stay-at-home business that kind of thesis that i wanted. how about disney the stock has pulled back, even the streaming services are on fire on the other hand the parks will take a huge hit. the movie business might have a huge problem too it's too experienceal for the stay-at-home economy index for those wondering about disney, we think the stock has one more leg down if they have to close the parks. then spotify which hasn't worked since it started trading a little less than two years ago i'm not sure why i'm sick of defending it though. i'll take a pass we get 15 old stay-at-home stocks facebook, apple, amazon,

netflix, alphabet, shopify, activision, take two, n video, pepsico, domino's, and wing stop let me add new ones. costco, they reported a strong quarter last night even if they got slammed tonight. conference call they said they're benefiting from the coronavirus. that call is actually essential reading because glant ew who is the cfo did an amazing job second is cdo my marketplace for handi crafters the ceo said etsy is a work athome you can buy at home. campbell soup, exactly what the stock was worried. we did campbells rallied hard on wednesday. since then it's getting back its gains. it's really interesting. fourth is one that i've joked about.

okta is the cloud-based security company that handles credentials. it makes it easier for people to work at home they had a blowout quarter last night. stock fell today you can start buying here and add more if it goes lower. i think it would have been up 20 if the nasdaq hadn't been obliterated all day. zoom video, that's the cloud-based. zoom may be the perfect stock for this moment even if people can't come into work, they posted excellent numbers on wednesday night which allowed the stock to surge yesterday i say sold to me bottom-line, after another week where the doom and gloom dominated, i want to help you identify stocks worth buying i think there's 20 worth buying. i know that's a lot. i'm sure someone will take it, steal it, call it an etf, make $248,000 the instant they do it

and then $4 million, not credit me, and think that cramer is an idiot. he gave it to me for free. i have to say that >> caller: booia, i'm going to put fredric on the phone. >> here we go, guys. >> caller: booyah, jimmy chill. >> jimmy chill is in the house let's go to work >> caller: i want to invest my communion money in a company that's run well and gives a good dividend what do you think about nik e? >> nike nike has got a good long-term pe perspective. short term, buy some here and at 82 i think you'll do fine in the long term. jimmy chill is the term my daughter gave me, on the twitter, you've got to chill now everybody seems to like it

so much that i can be jimmy chill. doom and gloom are dominating these days but there are still opportunities out there in the stay-at-home economy be including c ramer family fave okta if you're 15 years "mad money," i've had plenty of experience with market turmoil. i'll tell you why this feels different. plus my exclusive with the woman who some call the most powerful woman on wall street. maybe the most powerful person she's a friend all your cars, rapid fire on tonight's edition of the lightning round. stay with cramer

when you look at the critical issues facing our world, what do you see? we see a billion more people breathing free.

we see access to fresh food being the global norm, not the exception. we see homes staying cooler, without the planet getting warmer. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved.

ever since this show began 15 years ago i've been on a mission to democracitize investing. i bring that up because it's international women's day. they tend to be under represented in finance and it's unfair this morning i got to ring the opening bell with stacy cunningham, the first female

president there. nobody does it like my friend, sally cha check. she's the legendary head of merrill lynch. she runs eli veft, which designed for women rather than men. it's a brilliant oncept. most things are optimized for men even though women run the household finances in 60% of the homes. let's take a closer look with sally cha check, the co-founder and ceo. miss sally, welcome back to "mad money. i know sally from real life. >> forever. >> i've good to congratulate you. your business is probably the strongest in the business. you stand for something that isn't just the commission. >> we are incredibly mission driven at elle veft. nothing bad happens when women have more money. we pay so much attention to the

gender pay gap which is egregious and it's moving in the right direction slowly we pay very little attention to the gender wealth gap. they have 32 cents to what a man has in growth. we tend to have more debt. elle veft is working here for one of the things we can control helping women invest. >> can you talk to impact invest you use similar terms. all people care, but women in particular seem to understand the new world. >> we are hearing from women one after the other after the other, i understand my money is a form of power i want to understand the impact that my money is having, even if i don't even know what it is, what bank is it with am i happy to support that bank? what company am i supporting my private wealth business, i said let's focus on digital,

young women, newer to investing, get them started on the right foot we had some tremendously successful women say, i'm tired of supporting companies and institutions that haven't supported me and having my money managed at a place where i wouldn't want my daughter to work we said okay, let's build out a private wealth business. part of that are our portfolios that help with companies that advance women. >> i know, i have sources, they tell me that that business is in a very tough market, it's just on fire. because you're really the only one that has it. tell us how it works do you put down what you care about or are your people just sensitive to certain silos of what's going wrong >> we can sit down with every individual client and track out a mission statement for what is important to me in my life

all right. how do we express that while looking to drive market-like returns, not to give up returns, but how do we, you know, how do we think about it? it's not just the first level, i like advancing women that's great but also things like gun violence disproportionately affects women, online privacy issues disproportionately affects women, the climate detiriorating, why they don't have the resources to leave places hard-hit. we go not one level but two and three sort of investing 4.0 and help people express their values into their investment portfolio. >> i bumped into a prominent woman hedge fund manager i'm saying similar things you are. she said to me, you know what, that doesn't impact the companies at all what's the difference? what does it matter? i need you to answer that for me i know we think it does. >> it can affect the companies

tremendously in terms of their performance. first of all, there's all the research that says diverse leadership teams lead to outperformance across a range of med ricks. we've also seen this me too's timesup movement, if you're not treating women well it can have real negative financial results. there's no reason doing good things for the world for half of the population, leads to worse financial results. you can't convince me and the research doesn't hold that up. >> you have been a great research director. you know so much i just need your solid perspective for our viewers at home who are so concerned. something that actually can physically hurt people, corona, is affecting this. and i need another -- i need a person who's levelheaded to be able to put a little history, perspective, so people don't put their money in a treasury in a year from now they'll regret. >> i understand. i fully understand that it can

drive you ber zblerk i totally get it i'm like, not look at the screen right now. for young people like you and me, right. >> thank you. >> stocks are on sale. they may be on further sale. but for young people like us, net buyers of stock, this is a yes score. and look, we understand if you had invested on any given day since the 1920s and had stayed in the market for 15 years, regardless today, your chances of a positive return why 99% for young folks like us, having this long-term perspective is the key. you should be i hate to say it celebrating. >> stocks can be cheap and get historically cheaper. >> you want to make investing a habit. a bit out of every paycheck so you're evening that out over time that's the way we recommend. >> your success is not only women's success, it's everybody's. >> thank you, thank you. >> appreciate it. >> happy 15th an versely.

>> happy women's day. >> it's also 15 years since the unc came from behind, 9 points behind duke with less than three minutes, one of the great days of my life. >> do you remember where it was? >> it was at chapel hill i was there. >> look into this. this is mission driven and that's how you have to invest these days. it all starts with an invitation. to feel connected. the invitation to lexus sales event now through march 31st. lease the 2020 es350 for $379 a month for 36 months and we'll make your first months payment. experience amazing at your lexus dealer.

when yowhat do you see?itical issues facing our world, we see breakthrough medicines getting to patients in record time. we see harnessing natural gas unleashing the promise of clean energy. we see engineers simulating the future to improve today. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved. apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. to learn more, visit paycom.com

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it is time and then the lightning surround over are you ready can be ski dad kurt in illinois, kurt >> caller: yes, good afternoon thirst time caller, long time listen nr. my question is on aef. >> well you know what? i actually like aes. it's a decent, decent utility. but i actually prefer let's

switch the letter aep which is a more safe utility. let's go to lionel in florida. >> caller: how you doing, booyah, brother. >> what's cooking. >> caller: i'm in portola. >> just crushed that thing i know it had bad news, but i bless it for speculation let's go to sergio in new york sergio. >> caller: jim cramer, how are you, sergio from new york. my stock is neo, chinese car company? i hate it. i hate it. it's been a disaster we're just going to stay away. i want the chinese to get better i'm warping up they're doing interesting things to try to help i like that. harlan in washington, d.c. -- state of washington, sorry harlan

>> caller: yes that's beat the luis against them. >> smile direct? no, i'd rather be in casper than smile direct just to get the bad benchmarks out there virgil in virginia. >> caller: question. happy anniversary. what's your take on fhn, first horizon national >> everyone is giving up on this you're getting first horizon, at almost a 5% yield. doing remarkably well. i'm not allowed to own stocks. if i could i'd own it. brian jordan is a good marjer. around that is, ladies and gentlemen, lightning round >> the lightning round is sponsored by tdmer trade i see award-winning service, and a trade desk full of experts, available to answer your toughest questions.

and i see it with zero commissions on online trades. i like what you're seeing. it's beautiful, isn't it? yeah. td ameritrade now offers zero commissions on online trades. ♪ but in my mind i'm still 25. that's why i take osteo bi-flex, to keep me moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex - now in triple strength plus magnesium.

hey, i'm cramer. for 15 years i've uttered that phrase at the top of every show. for 15 years we've sought to help regular investors like you get their heads around the market so you can try to profit from it. my view has been that owning a piece of american ingenuity is the best way to save for college, retirement. i am maybe some would say a stock market televangelist it is the greatest creation in human history. i'm grateful for our staff,

management, and you, the viewers, our customers you're the ones that have kept this nutty one-man business alive. i always wanted to be on broadway i couldn't sing or dance and can't remember lines i got the next best thing, an hour for the monologue, skits, interviews, rap, i enjoy as much as the day we started. this is no time to be wistful, we are in a great civil war against an unseen virus that is about to let's say sweep the country. some people say that's fear mongering. i don't think it is. this spreads rapidly and we haven't done enough to stop it it goes from one place to another like eye wildfire that i used to cover when i was a reporter i don't want you seeing visions of stephen king's the stand. the vast majority of people who come down with the coronavirus will be fine it's not the end of the world. it's more like one of the most

if not the most who arendus flu season since the spanish flu but it's not bubonic and i felt like today and yesterday and the day before that people thought so but it's much more flightening than the flu because there is no vaccine and there are far more deaths than we have seen from flus in most of our lifetimes. i'm betting it will create more havoc than i'm hearing from the trump administration and what they're expecting, at least according to my old partner larry kudlow whom we spoke to this morning with "squawk on the street." my guess is covid-19 will channel or defeat public healthsistoms because it's spreading to quickly and the agencies are severely underfunded and that is just a fact that's not fear. larry explained how 80% of the people get better pretty easily. that meant that a staggering 20%

might not. they get very sick, much smaller percentage dying because this is a new virus, we haven't built up any immunity to it in theory everyone could get it. even if only half the population gets sick, that translates to 30 million people we don't have 30 million hospital beds. again, realism look, i would love to tell you everything is going to be fine that's not -- but i do try to put it in perspective. two-thirds of our economy is service-based. people are choosing to stay home so they don't get sick it is easy to see how to outbreak could lead to recession. many companies are heavily indebted and they could fail if their customers don't come by. that could lead to bank balance sheets not as strong as they were i know we've got to high unemployment rates

why not just sell everything for that i got to fall back on 15 years of investing together there could be more selling going forward, it's not done, i think opportunity is already knocking in the form of great stocks that keep getting mauled simultaneously with the s&p futures. in some ways this moment is harder to fathom than the financial crisis it was clear in 2008 it was clear you needed to dump everything liquidity vanished this time i think it could vanish for the cruise lines, airlines, maybe hotels and restaurants. won't surprise me if some couldn't make it at least dividends are certainly in jeopardy. but other than those groups i think the damage will be contained with the exception of the overextended oil business. what makes this thornier than the great recession is this time it's not just our money, it's

our lives. our lives are on the line. i'm not an epidemiologist and i don't want to minimize the public health concerns, but i believe we'll beat this. the market will come back. you're betting against american ingenuity. sucker's bet let me put it one more way there's always a bull market somewhere. i don't know where the market will bottom. some are available now as always, i hope to find them for you. stay with c raichler to introducing products faster... to managing website inventory... and network bandwidth. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. and when you open a new brokerage account, your cash is automatically invested at a great rate.

that's why fidelity leads the industry in value while our competition continues to talk. somewhere. ♪ ♪ that's what happens in golf nothiand in life.ily. i'm very fortunate i can lean on people, and that for me is what teamwork is all about. you can't do everything yourself. you need someone to guide you and help you make those tough decisions, that's morgan stanley. they're industry leaders, but the most important thing is they want to do it the right way. i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley.

...take the personal assessment i love the new myww program, because it's tailored to you! and get matched with a proven weight loss plan. find out which customized plan can make losing weight easier for you! myww join today with the ww triple play! i'd like to thank so many people i can't believe i -- my sister nan's boy. but mostly you we do this show for you, and it never ever gets old for us like i said, just for you right here, i'm jim cramer i'll see you monday. cnbc marke"markets in turmoil" t

right now. ♪ good evening, everyone today is day 68 of the coronavirus outbreak and there is no sign of a letup in the global spread of the illness and no sign of a letup in fear on wall street. >> stocks rallying in the final minutes of trade >> a last-minute rally on wall street lifts stocks from another severe drop. >> we've gone from session lows to session highs in the space of 40 minutes >> stocks were down 900 points >> the feral reserve is t done >> there's also word help from