c3test.org, tell me quickly about it >> well, again, this is just one of many, many efforts that -- thanks for bringing it up -- that are developing more sensitive tests. one of the problems with this disease with this virus is that it's asymptomatic. we have people walking around without symptoms for three or four days that infect 2.3 people on average that's what has led to the widespread nature of this. so much different than sars where you had symptoms, so you would know to self-quarantine. what this test will allow you to do is know immediately if you have it, so you can self-quarantine before the symptoms show up so i would encourage everybody -- that is one of the many exceptional places you can donate to make a difference. >> we appreciate your time today and your vision. brad, thank you so much. >> thanks for having me on >> that does it for us thanks to our gang, as well.

kelly, i beg your pardon i just wanted to get that in there about that test that columbia university is working on c3test.org welcome, everybody we do have a massive rally on wall street today as congressional leaders say they are on the 2 yard line close to the touchdown, so to speak, on the stimulus bill. in just the last hour, chuck schumer says the outstanding issues can be resolved in the next couple of hours on this bill, all this happening as the president is pushing to get the economy back up and running soon here are stocks right now. session highs are just there abouts the dow up about 1670 points, a 9% gain, outperforming the s&p 500 and nasdaq these gains are the biggest since march 13th it's also the second largest point gain for the dow ever, if we hold on to this we are back above the 20,000 left after yesterday, closing at the lowest level since november

of 2016. with today's strong gains, the dow is only having its worst month since october of 1987 instead of 1931. still, those comparisons nobody likes. all s&p sectors are higher led by energy and materials. let's get more with what's driving this action. bob? >> and we are just off the highs. we were up better than 8% on the s&p 500. let me show you an intraday of the chart to show you how powerful this is every time that we hit new highs, 10:25 eastern time, 11:30 eastern time 12:20 eastern time, we saw valium spivalu volume spikes. people are buying as we hit these new high levels. that shows real enthusiasm at least they're not heavy selling as we start moving to the downside let's take a look at some of the big movers energy, energy is down 40% this

month. we have 20% moves in some of these stocks like conoco phillips, devin energy these are high beta names. they move a little more than the rest of the energy complex, but these are extraordinary moves today. remember the bank complex. big moves up mid teens for all of the regional banks, particularly the high beta regional banks, even bank of america having a good day. so energy and banks are having the biggest rally. and that's definitely buying interest kelly, back to you >> bob, thanks so much breaking news now on delta phil, what's going on? >> take a look at shares of delta, pulling back a little bit after word that the s&p has cut delta's credit rating down to junk status that is a significant move that it would no longer be investment grade. what stands out here is that delta, we're still looking for the official details from s&p

about where they have cut it down to junk status. delta is believed to have the strongest balance sheet of any of the airlines. curious whether the s&p will make moves on other airlines as they look at those balance sheets, as well. but delta shares pulling back, following s&p downgrading the company to junk status >> that's a big headline, phil shares still up sharply today. more optimism that washington can reach an agreement on a stimulus bill with chuck schumer and nancy pelosi expressing optimism kayla, where do things stand this hour? >> reporter: that optimism is building as negotiators are nearing the final stretch of talks on a stimulus package to lift the economy based on the proposal put forth by mitch mcconnell last week. reuters reporting that airlines are set to get about $65 billion in grants and loans. this is something the industry

had wanted, saying it didn't need just more debt because of its deteriorating cash flow. then there is a new oversight program for the corporate aid disbursementasury will see theasury secretary will have to answer questions from congress and the defense production act is expected to be invoked today. the feek fema director expects today. those are two conditions that nancy pelosi said were top priorities for democrats chuck schumer said what's left on the table now is not a deal breaker. >> last night, i thought we were on the 5 yard line right now, we're on the 2. as i also said last night, at this point, of the few outstanding issues, i don't see any that can't be overcome within the next few hours.

>> reporter: and as members of congress consider the stimulus package and what it means, they're also considering the president's desire to reopen the economy. some allies of president trump are suggesting the white house should not do this senator graham and senator cotton say the economy is not going to exist if more people get this virus and the health care system is overtaken just last hour, the vice president said in a coronavirus task force town hall they haven't made a decision yet. he said whatever the president's decision is will be made with expert input >> you know, kayla to that point, we have -- i don't know what to call it, commentary, official statements about maybe moving along in terms of reopening the economy. what is the w0ord or the thought process about something like that as far as you can tell? >> reporter: early today, dr. anthony fauci, who is on that fa task force, says the idea is

under intense discussion, but he believes we won't have the data to see whether this curve has been flattened until several weeks from now the top military official said he thought this crisis wasn't going to end for several months. but then you have people like new york governor andrew cuomo who says he believe there is is a way to do both, reopen the economy and keep people safe one idea is to let young, healthy workers who have had the coronavirus, they should be allowed to go back into the office and start the economy running again. >> kayla, thanks we'll continue to follow that. we had $40 billion worth of two-year notes just go up for auction. more scrutiny than ever on what demand is. hey, rick? >> reporter: hi, kelly anybody who expected wildly strong demand, i just don't think that's very rational auction grade, i gave this one a d plus maybe i should have given it a c

minus, but i'm a tough grader. $40 billion, two-year notes. the yield, 0.398 here's the dynamics. 2.36 was the bid to cover. that is the widest since december 2018. 55.2 on indirect was really the only positive here that's the best since september of 2019. 8.6 on direct, that is a dismal number, weakest since december of 2018. the fact that it was actually not a big tail process on the pricing i think is a positive. all in all, i don't think that we should suspect much higher demand considering how low yields have gotten kelly, back to you >> rick, appreciate it let's turn back to congress and if they pass the stimulus bill and if president trump shortens the coronavirus shutdown, can we avoid the sharpest economic down

turn in postwar history? over the last two weeks, economists have been slashing their forecast morgan stanley sees a second quarter drop in gdp. joining me now is ellen zentner, chief u.s. economist at morgan stanley. ellen, welcome what is that predicated in terms of stimulus from washington and the federal reserve? >> yeah. so i think we take a look at these eye-popping numbers that we put out in our new u.s. forecast with second quarter as the largest single quarter contraction on record. you can start to see -- understand why there's such a fire in the belly of policymakers to try to get stimulus passed as quickly as possible the fed with a slew of alphabet soup programs that have gone even further and congress, while it feels like they act slowly, they have been acting much more quickly than congress typically acts especially when you're putting together such a huge stimulus

package. we don't know what the final number is, is it $2 trillion, $2.5 trillion? we estimate nearly a $1 trillion hole in the economy from the lost output we'll get this year. so that goes far in addressing that >> so we are going to talk later in the show about some of the businesses and parts of the economy that are still expanding including food delivery, things like cloud computing we heard from microsoft's ceo. there's huge demand for that why isn't that doing more to offset from the discretionary parts of the economy how do you get to a minus 30%? because that's such an enormous number >> yeah. i'll tell you what we do we have department huddles with our equity analysts in the firm to understand deeply what's going on with their companies. when i hear from our analysts that cover those discretionary parts, they have a weekly store

traffic tracker that says traffic is down 80% in the country. so it's not down 100%. as you say, there are some things going on. dealerships are telling us that in some cases here in the north where they move 45 cars a day, they're moving one and so that is a huge dropoff in activity again, there is some activity going on you have some states that are not as restrictive with the social distances as they the northeast or the west coast. even in the financial crisis, even in recessions, no one was told you can't go out and conduct business doors weren't shut in the way that they are now. we estimate that jobless claims, when they come in on thursday, are going to be 3.4 million, that's a one-week number that's how many were laid off last week. that's incredible. so it's a stop in economic activity what we're now focused on is what the shape of growth will look like on the other side of

that as the social distancing measures start to recede and we're told to go back in the water but how quickly do we want to jump in >> sure. there's going to be plenty of people wary of going back to the restaurants and maybe rightly so so what does that bounce back look like? and are you watching these events in washington or waiting to hear from the president, what he ultimately says about quote unquote going back to normal is there a way that we can prevent a 30% drop and get something much, much flatter, much more manageable or no >> so i think it's going to be very difficult to see that happening because, of course, it's going to be up to the individual states and locales of what they want to do with the social distancing measures so as you all talked about, right before i was on, you know, cuomo's idea of okay, when it is

time to lessen the social distancing measures, maybe we let young, healthier workers that test with antibodies to back to work first i spend a traction of what i spend when i'm in the office when i'm at home and so -- >> are you talking about the money you're spending or the productivity >> oh, the money i'm spending. let me tell you, 21-hour days when you're working from home in this environment you can get on the phone at all times. so my productivity has gone through the roof hey, we're the lucky ones still working right now, because we have the ability to work from home we're not paid hourly. our companies did not shut their doors. so that's really -- as an economist, what i'm really focused on is what is in this fiscal package that will really help small businesses get the

money they need as quickly as possible, not waiting five to six months to get a loan that's too late. it's already too late for those that shut their doors last week. we want to mitigate the -- hold to a minimum the number that will close their doors going forward. we want to be sure that households get the backstop that they need to -- not just put food on their table but to make those important loan payments. so i would expect some loan holiday programs here. we're seeing in one of the versions of the bill, the senate democrat version that you've got a proposed $600 a week payment for those that are drawing unemployment benefits. that really helps make up that gap, because unemployment benefits do not go nearly as far as making up for the lost income that they had. >> so let me ask you -- >> there is a lot of assistance. i want to keep this is a very

sharp and short downturn, opposed to a longer downturn with a wider bottom, which would be a normal recession. >> right as we talked about that 30% plunge in the second quarter, you have maybe a third quarter of 29% annualized rebound. so, again, trying to make that more of a v-shape. one thing i'm curious as these bills work through, there's concern about the strings attached one proposal, you know, i've heard out there, i'm not sure which legislation it's in, would require people to pay back some of the loans that they're given. or if you're a business and there are conditions attached associated with wages and other things like that, would that be better or worse in your opinion in terms of maybe discouraging people from accepting the money versus encouraging everybody to take it, even those who may not need it, what are your thoughts

on that? >> you know, i think -- i'm always of the mindset that the more strings attached there are, the less businesses will take advantage of the programs. of course, if you tell a business here's this critical lifeline to keep you in business, but you can't lay off employees, that's not going to work if you need to lay them off immediately because you don't have the revenue on hand to pay them, but you have to wait for the tax breaks or the loan to come through those temporal differences can be life or death to a business i would want to see the details of that. for a theoretical purposes, i'm not a fan personally of giving out those loans in times of emergencies with a lot of strings attached and so i think that they can be crafted in a way where you can get the money to businesses, where you have delayed payments for quite some time. so hopefully when those loans are being paid back, we're in an

upswing where we're able to better afford the payment on those loans. similarly for households, if we're talking about loan payment holidays, we've got to have large buy-in from households maybe that's a universal program that allows you to go into those payment holiday type program but we also have to be sure that we're protecting lendors, as well this is a no-fault situation for everyone we want to create as few losers in this as possible. >> we'll leave it there, ellen thank you for your time today. we appreciate it >> thanks, kelly >> if she's right, some ugly headlines are on the way about the gdp and the economy. a lot of talk about investors these days of looking for safety in companies with fortress like balance sheets, but what do we mean by that? mike joins us now with some cautionary notes hi, mike >> yeah, or at least, kelly, at

least a little bit of a nuanced picture of this idea of going after companies that are financially strong one of the front and center worries right now is that this economic sudden stop is stressing many companies who have a lot of debt they won't be able to service it, and corporate debt markets are reflecting that. so there are established styles and funds that are dedicated to finding those companies that have very, very strong profiles, low debt, stable and high profit margins. this does into the ruberick of quality. call qal is the quality factor there's a variety of these, and there's a lot of overlap in what they own as you might expect here's the thing, though, it hasn't really helped you this year to own these quality companies because they did get a

bit overvalued at the peak and it's been such an indiscriminate decline in stocks. so it hasn't been great defense to date. but if you did say i want to get back in the market and try to emphasize companies with staying power, this is the type of to be that would do that they now also have generally above average dividend yields. if you look at these etfs, you will find names such as microsoft, cisco is in there, pepsi, johnson & johnson so that all makes sense. the one thing i would throw out there, on a huge relief rally day like today, these are not the stocks that will lead your way out. if you've had a bear market, it usually is not these companies that will necessarily be the big gainers off the bottom >> right people might be happy to sacrifice that for the relative safety they think they're going to get mike, good to see you. love the rusting loc look

joining me now, jerry castalini. welcome to you both. nancy, let's pick up where mike just left off. do you think it's a better bet for most people to stick with quality and not try to capture those names that are going to be skyrocket -- how could you -- the difference between trading versus finding good, solid investment opportunities in this market >> i think, kelly, you can do a little bit of both we have taken gains in some of our consumer staple stocks frankly, they have risen to about 6% of our portfolio. walmart, pepsi co. so we have put things to work in companies like chipolte. so if you look carefully, you can. but yeah, indeed you want to own the highest quality names in almost any environment but particularly now that's what we happen to own in our portfolio is large cap,

value oriented companies that pay a growing dividend >> sure. on that note, investors in this market should they be concerned about more dividend cuts going more secondary offerings if companies need to raise capital? >> you have a couple of problems solvency and liquidity the fed has thrown the kitchen sink at it but it's not there yet you see companies that aren't able to raise funds because of that the solvency question is the one that company by company and chevron's announcement this morning was a great example. they don't want to get into that mess and be in a position where they didn't pay their dividend or make good on their obligations. so you'll see companies go through this process now of, we're not sure when the bottom comes in, and we have to do things to protect our balance sheet. the issue with that is time, right? so the entire markets come down

to a level that were clearly in a buy zone for most long-term investors. the question is how long are we going to stay here do we need to stay at these prices for the entire period of internment that all of us are in what are the opportunities along the way? i think that will be the time where you break down individual company balance sheets >> nancy, i know you were heartened at what chevron said mcdonald's, intel, reducing buybacks but keeping the dividends safe do you think the worst is past in that regard >> well, that -- i don't know the answer to that i will say this though, kelly. you know, our valuation methodologies give us a lot of information on the macro situation. fourth quarter of last year, we were concerned about a correction we went to our clients and put a hedge on that kept us clear eyed in this period we put the hedge on february 12th

we have renewed it but now we're actually starting to think maybe now is the time to purchase calls on a long dated basis to complement our strategies so we've been gingerly in buying things like microsoft, splunk, companies that will benefit coming out the other end so we're also overweight health care we were buying starbucks i don't mean we were building a 5% position in one day, just adding around the edges with available cash and with the proceeds we get from selling out of the dogs. we exited boeing say we got that 100% wrong but when we were worried about the dich demnd -- dividend, we got out. >> the hardest hit market

include the airlines, including boeing, and energy which has its own problems, and financials because of low rates is that where investors should look for big upside or stick with the kind of plays that nancy is describing, maybe tech where the selling pressure has been less intense? >> sure. i mean, here's the problem all professional investors right now are trying to crowd into the safe trades. all those names that were just brought up and a lot of the names talked about right now are the only places where fresh money is going the only thing that's going on in -- on the buy side, on these deep cyclicals and energy is short covering those are the names that on the other hand have gotten down 30%, 40%, 50%, 60%. from our perspective, i think there is an opportunity to start looking at the better names in the beat-up industries so to me, boeing gets more attractive here. for sure, chevron and jpmorgan

these are games that are going to be more than around yet they're down significantly more than the safe trades. and from our sense, there's just not going to be a lot of sellers, down another 5%, 10%. and you certainly want something in your portfolio, right that has the ability to bounce by more than 10 or 15. if we're really going to come out of this, you're going to see a much sharper recovery. and there's room for that type of name. that's why you want to look at it from a balanced perspective >> you bought the boeing from nancy, got it. thank you both good to see you today. coming up, we'll check on these markets, which are just off session highs. the dow up 8%, 1519 points, still on pace for a second best day ever in terms of the sectors, you can see them on your screen. they're all in the green, energy with an 11% gain today but strong moves higher across the board. the exchange is back after this. at outback steakhouse,

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to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. welcome back we're checking on these masks quickly. the dow is near session highs, but two pieces of information. the first is that president trump said he would like to have the country reopened by easter in a couple of weeks this followed news on the negative side, which is a spike in the number of italian deaths, rising by 743 cases. some of the markets saying that

might have hurt the treasury market for that two-year bond at the top of the hour. so the dow still up strongly today. 8.7%, just a little off the highs as it weighs those two pieces of news and while china is looking to lift its lockdown, india is imposing one on its billion plus citizens due to the coronavirus. let's go to sue for the latest >> kelly, thank you very much. good afternoon, everyone here's what's happening. there are now more than 400,000 confirmed coronavirus cases around the world the death toll is approaching 18,000 new york state is the u.s. epicenter of the pandemic with 26,000 cases the governor blasted the administration and says federal aid, especially for critical equipment, needs to increase >> fema says we're sending 400 ventilators. really what am i going to do with 400 ventilators when i need 30,000

you pick the 26,000 people who are going to die >> londoners are practicing social dpis taistancing as theyt on long lines to buy groceries this as the death toll from the virus is surgeon in britain. officials are reporting a record 87 deaths since yesterday, bringing that country's total up to 422 for more on the coronavirus, you can always head to cnbc.com. shares of boeing up about 15%, extending a two-day rebound. the company will find its way to the other side of this phil does join me with the latest phil >> kelly, the question is how much liquidity will it have as it makes its way to the other side of the coronavirus outbreak and when does it end we talked with dave calhoun and he stressed the importance that

the $60 billion they're seeking from washington helped them as quickly as possible and the rest of the aviation industry >> i believe we're at the spoint of the spear, provide liquidity, keep our industry and people warm, so when a recovery comes, we're ready to go. i think it's that simple so i have always lobbied with the administration and our congressional officials that the simpler the shorter term in nature, the better >> again, we are still waiting to find out the package washington will improve. the expectation is $60 billion will go to boeing and their suppliers, so it will be supporting the supply chain. calhoun says even more important is the fact that there's ample liquidity right now. >> the credit markets have to be open the burst of liquidity that secretary mnuchin has been articulating on your show and

broadly i think is exactly the right answer we need to know the credit markets are open, not just for us but the entire supply chain >> speaking of the supply chain, some of the more prominent names like boeing are all moving higher on the expectation there will be a relief package approved potentially today or in the next couple of days. that's why you're seeing not only boeing but ge, spirit, triumph, all moving higher by double digits today. >> phil, are these grants, loans, both? >> that's the question and that's what everybody wants to know. what are the requirements that go with the grants or the loans. we are finally getting details about the airlines, which will be a mix supposedly of grants and loans. but we're waiting for the final details for boeing >> phil, thanks for that coming up, the muni market on shaky ground as cities shut down can intervention bring stabil y

stability? and a look at an emergency bill being considered to make home closings electronic. and here's a look at some retailers who are surging today, all seeing strong gapes after disappointing losses year-to-date we're back in two. tomorrow. it's a day filled with promise and new beginnings, challenges and opportunities. at ameriprise financial we can't predict what tomorrow will bring. but our comprehensive approach to financial planning can help make sure you're prepared for what's expected and even what's not. and that kind of financial confidence can help you sleep better at night. ♪ with the right financial advisor life can be brilliant. ♪ markets. the business of trading goods and services. nasdaq operates among the largest markets in the world. and our technology powers markets from indonesia to chile.

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welcome back let's get a check on these markets which are headed back toward session highs with the dow up 9%. that's a 1655 point best, could be the second best day ever. the president moments ago in a town hall saying he would like to see the u.s. open by easter that's also lifted treasury yields and sinking the euro against the dollar oil is a big part of the story today. chevron is leading the way those gains up more than 17% the company reassuring investors this morning on cnbc it won't be cutting its dividend american mention, mcdonald's up 17%. and the retailers, l-brands up 35%. these are all names hit because

of coronavirus now on a relief rally today. kroger, which had been a beneficiary, going the other way, down 3% with city after city shutting down, investors have been wary of snapping up municipal bet now the fed is stepping in joining me now is mark paris, head of municipals at his company. i didn't know prior to this, mark, that we have weekly refinancings basically, repricings i'm trying to say of these bonds. that's a huge problem if you have yield spikes. how bad is it out there in the muni market? >> yeah, good to speak with you. the muni market is seeing some pains here as all markets have felt some pain municipalities, hospitals, school districts, universities, those rates have really spiked, as those bonds on a weekly

basis, and dealers have had to take them on to the balance sheet. we are getting federal reserve relief now that is showing some relief at dealer balance sheets, but it will take time to flow through we had rating as high as 7%, 8% on some of these weeklies and dailies. they have come down a little bit b now. but very expensive borrowing >> so if you all of a sudden have this debt trading at 7%, 8%, who is most exposed? is this usually a small portion of any municipality's portfolio, or 100% for some and zero for others >> it's usually a smaller part of the portfolio the markets are locked down. the muni market has had a big selloff. we have seen a lot of

redemptions, 70% of that is the retail investor through individual purchases so in the short run, a week or two or even a month won't really help the balance sheets that 3407b month. there's two problems here, and the fact that having these short-term instruments on the books by the dealers gums up the wheels of the system and it hurts for dealers taking on longer term bonds and creating liquidity in the longer term marketplace. >> absolutely. for the cities and states themselves, look, the other troubling piece of this is that the plunge in yields and to some extent, stocks is going to hurt their balance sheets, as well. so you have the balance sheets getting worse, potentially dealing with costs related to the population is stick because of coronavirus bawl of their tax revenue in jeopardy because of the economic shutdown and now this inability to access

funding on the markets how long can the situation persist? >> look, we know that this is going to be a longer term situation. however, i think you have to think about the company services available. we're going to use that water and service for instance while we're all home there are large cash balances at general obligation issuers do have rainy day funds. we're going to have to watch this on an issuer by issuer, sector by sector basis hopefully, a lot of these will get federal relief in cash, as well but we feel like the muni market fundamentally was in a very good place going into this. yes, we have a question about how long this is going to last, but the essentiality of the services will help the federal government hopefully help a lot of these issuers and the fact that they've been

solvent and strong going into this crisis should help, as well obviously some things we have to worry about on individual issuers. but remember the municipal bond market is a lot more chat r collateralized you had that added factor of maybe a mortgage on a building, the hospital, you know, so there's a lot more collateral back in the muni markets than the corporate bond market. >> final question, mark. i think about meredith's prediction after 2007-2008 that we were going to have rings in the ear of the muni market, but he talks about widespread bankruptcies and that didn't happen does an event like this, the coronavirus, risk being like the black swan that puts the balance sheets in fundamental jeopardy or not, do you think >> obviously we hope not we really believe that -- look

at what local governments have been able to do recently especially at the state level, getting money from sales tax now when you buy something on amazon, you have to pay sales tax to your locality gambling revenue, cannabis revenue. you have to do really good credit research and make sure that the credit, even if they get downgraded, are still viable in the long run. right now we believe that a lot of these places have different levers to pull certainly again the federal government coming in certainly something to watch and a concern of investment. but the market has seen better liquidity the last few days. as rates are really significantly cheap. if you look at hybrid municipals, they're 2 1/2 times of the long treasury donald. -- treasury bond. >> and people are looking for the yields just be careful when you're

looking through -- when you're making these investment choices. mark, thanks so much mark paris coming up next, as the shutdown threatens millions of jobs, a number of major companies are stepping up to make america work. and the dow jones industrial average having potentially its second best day on record here a gain of 8.5% the home construction etf is up 12%. toll brothers, holty and others 14% ry is here. so now, you can enjoy great steaks here... big game platters here... and date night essentials here. get free delivery when you order now through outback.com outback steakhouse.

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bill that would make closings electronic diana? >> reporter: yeah, any of you who have closed on a mortgage know it's usually done in person but now many recording and title offices are closed while 23 states allow online know tarization, that leaves a lot of borrowers out, especially in california where it's not allowed. a bipartisan bill is under way to allow remote closings >> it's important to the real estate market because the real estate market in a time like this when we have a once-in-a-lifetime refinancing opportunity, to miss out on that because of social distancing or miss out on that because you can't get a group of people together in a room would be a great tragedy. >> reporter: the opposition is arguing state's rights, concerned that this would be a federal mandate. meanwhile, you have to get

creative, right? one of the nation's largest home builders, lanar is experimenting with drive-through closings. fannie and freddie are allowing drive-by appraisals for some borrowers. >> was that like an 18-inch pen? >> it was very cool. the pen they signed with was from a box of new pens, so they would not touch the same pen it was all very distanced. >> is this very temporary or could this be permanent, digital closin closings >> yeah, it's in several states. california does have something on the books, it just hasn't been passed through yet. and it would make life easier. so i would imagine this will accelerate us getting to these electronic closings. of course, you have the recording offices closed, as well so there's a lot more muddying the waters they're expecting a lot of delays >> diana, thanks

that would be super interesting. now despite all of the bad news and concerns about millions of layoffs that are coming, there is some positive news out there for workers. about a dozen large companies are looking to hire nearly 500,000 workers to deal with the surge in demand for their products including walmarwalmart, pizza d insta cart walmart will add 150,000 workers. and not only are some companies hiring, but others have started offering paid sick time and child care services. some are boosting wages or promising cash bonuses fedex, while not hiring, are among those companies enhancing paid sick leave. tomorrow night at 7:00 p.m., a special cnbc town hall we'll look at the future of health care with gary cohen and

mark cuban joining us for the hour and the ceo of nasdaq, and dr. scott gottlieb and we want to hear from you send us your questions on twitter, and this will all take place tomorrow night at 7:00 p.m. eastern time right here up next, tech stocks holding up well during this massive selloff, barely down and rallng tayyiod is tech the best bet for your money? we will look woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy.

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welcome pack the street getting bull you shall on a few names dollar tree will out perform with a $92 price target. it's well positioned to attract traffic. the company focus on basic and value items will help benefit in the recent surge in demand for food over to virgin atlantic,ering i target the 70% price drop makes it more

attractive as the story and balance sheet remain intact. 50% up side from just under $15 and today with a 23% gain. needham is upgrading nvidia. they will flock to companies with superior balance street and robust free cash flow. the analysts adding the transition to ai will accelerate amid the crisis and that should help nvidia longer term. shares are up 13.5% today. the etf that tracks the names, the xlk is rebounding sharply. it's still coming off its worst week in 20 years with seven days to go until the end of the first quarter it could be the first negative quarter since 2001 it's down about 17% so far this care year is this a buying opportunity steve, it's good to see you.

is this a buying opportunity for tech >> kelly, in some sense it has to be because we have become extremely over sold. that's true of moe groups and very similar in tech to late '15, late '18. you have to be thinking more by themselves here. at the same time we think there will be rallies like today you probably want the fade those rallies. it's still too early to call an all clear. you mentioned the xlk and we talked about tech out performing the last year. it's been very narrow. it's very heavy in microsoft and visa and mastercard. our index has been a market performer. i like our equal weighted index has started to outperform the last couple of weeks hopefully it's not about large cap when we come out of that >> is that your advise for invei investors as well. i think microsoft is still up there. >> it is we still like those names.

in the short term we would be defensive. that's the names that have been out performing it's a lot of the stay at home names. coming out of this and we're not there yet but coming out we would be interested in adding to semis. the stocks really be hurt and maybe going down cap some small and mid cap names i would kpp expect to rebound. >> what about hardware >> i view as a trading group it's traditional systems companies. u those will be great trades they have secular wind in their face the other part is the is up shy chain. it acts like semis

>> finally since we out lined a number of places where you see opportunity, what would you tell people to be most wary of here >> we put together a list of high dividend stocks i'd like to think chose provide real yield they are not out performing yet. we would avoid names with high debt companies with net debt. ratios under three are under performing names like dell. even ibm added a lot of debt we would be careful there. normally we would be saying watch out for these multiple high software stocks the fact they are out performing now. you have to be picky but i wouldn't be scared off by those high sales the price ratios >> it's good to hear from you today. i appreciate it. thank you very much. >> steve is the tech strategist with wolf research

thanks for tuning in our breaking news coverage will continue after this quick break with the dow up 1500 points or 8% we'll drill down on the held of the banking sector with mike mayo who says the crisis the banks are part of the solution an not part of the problem also, growing debate over when to send people back to work to res.mys rovis aconaru spad we'll be right back. how's the it department liking the now platform? every time it takes care of something for us, we celebrate. how often does that... got it. servicenow -the smarter way to workflow.

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welcome back and good afternoon. i'm tyler mathisson. our continuing market coverage carries on as the coronavirus spread puts the economy at a nearly stand still stocks are surging the dow up about 1400 points now. optimism on wall street sparked by what is perceived as movement in washington. this as 17 states now have issued stay at home orders othe