paper towels to toothpaste americans have been stocking up. the stock has held up pretty well over the last few months. so the question is are the strong sales growth that it is expected tomorrow already baked into that price and what will they say about the uncertainty around consumer behavior, wilfred. >> the market finished up 0.6% on the s&p 500 we're out of time. bryon sutton is up for you next. >> wilf and sara, thank you very much welcome to "fast money," everybody. e i am brian sullivan. your traders are guy adami, tim seymour, guy adami and karen finerman the stock hitting another all-time high that has aren't come too far too fast because everyone's buying the same thing and we'll dig into that and also ahead, the banks getting battered again one of the traders says this could be one of the better times

to get into long-term investments and later on, a staggering stat that you've got to hear around netflix that stock continues to be bought as we all binge watch tv. we are going to get to all of that, but we've got to get to breaking news that is important on the virus, and it is also moving the market after hours. gilead sciences shares they are surging on some very promising drug news. let's get right now to meg tirrell with more on this big story. meg? >> hi, brian this is breaking news from stat news basically, they got a glimpse from one of the hospitals that's running remdesivir at the university of chicago. essentially what they saw in video communication with the faculty members there is on the report of the clinical trial it sounds like the patients according to them are making rapid recoveries at least in terms of their fever and respiratory symptoms and

reported nearly all patients discharged in less than a week this is not controlled clinical trial data and we expect to see the first of it later this month and it is a glimpse into one of the sites rung the trial is seeing and it looks pretty encouraging, guys. so we'll continue to see this bear out when we see the bigger data set, but it is our first glimpse into a clinical trial and as the reporters for stat news who broke this story reports it looks pretty encouraging. brian? >> that is some fantastic news, meg tirrell, thank you very much gilead moving up the spy, and that is the etf that market will move after hours and even though the overall futures, however, are not trading. guy adami, we've talked about this a lot and we'll get to amazon in a second and i want to focus this because yes, there's a lot of data that comes every day and i would argue, see if you agree or disagree the only data that matters for the markets is the health data right now or at least i would say

matters the most clearly the market's concerned about that and it's human beings and that should be top of mind for all of us, as well this is obviously good news and anecdotal, i get it, but good news nonetheless and in terms of staying with gilead and a name that we've been talking about for a while and i'm looking down and it closed 77 and north of 83 right now. there's no reason not to stay with the stock and the earnings in the end of the month and i'm not suggesting it's an earnings story and clearly not and this is one that's had tailwinds and obviously those tailwinds will continue to blow in their favor for the next 10 to 14 days and you stay long the name in earnings at the end of the month, brian >> tim seymour, it's a coronavirus play it's been a popular stock, certainly. i don't want to put anybody on the spot this news just broke a few minutes ago, but is there any

fear of anybody rushing into the same names which by the way, i'll talk to amazon in a second, as well. >> that's what we're here to do and at least to point out that biotech was rallying during a difficult period of the market going into covid-19. the fact of the matter is i think your best move is a basket of big-cap pharma and a couple of biotech names that have exposure and not just around covid and around testing and around pharma and around the fact that either way otc has been a major seller in a lot of the big pharma names and they're also independent of covid have reasonably predictable earnings streams and we're looking for good balance sheets and merck sanofi and abbott labs has been another big story and gilead, there's your basket and it is interesting. >> yeah. i'm looking at the release here, steve grasso and it's a bullish

situation. there's an analyst out here from lirink a couple of days ago talking about gilead and rem des vish remdesivir, the drug, with everything we do we need to be careful because there's a long way to go even with a promising treatment and there are still many questions and i hope they're all solved positively. the point is for investors you do need to be careful here, do you not? all right. guy adami, what do you think >> listen, being careful is never a bad idea i've been trying to be pragmatic for the last couple of weeks and the s&p 500 has gotten to levels that we thought we would get to and it's probably higher now and it will be higher in the after market when it starts trading on the back of this news, but if

you've ridden this gilead train and it's too anecdotal, here at $84 or wherever the stock is trading it's not a bad place to get out and you probably haven't seen gilead here and i would dare say i don't have it in front of me and two and a half years, at least. my way of trading it would be to continue to hold it, not that this is an earnings story, but i would continue to hold it into their release at the end of the month. i think that's the $100 table. if you want to go downstream you might want to do the steve miller thing and save money and run, brian >> and if it's a longer term chart and gilead was $120 stock in june of 2015 been kind of flat money for a while and it's really popped, obviously as they work hard for this remdesivir, and the stock is up 10% after hours. here's the breaking news on gilead we also have breaking news on

another stock and one very important to the dow and it's boeing. >> boeing suspended production out of the pugit sound area. they've just announced within the last few minutes that they'll be bringing back production in the commercial airplane division out there and basically, you're talking about everett which is where they built the 787 dreamliner and the 777. they'll be bringing that production back in a phased approach and really, what you're looking at from boeing is two weeks where they were essentially down with no production, but they'll start bringing it back next week and obviously working with the local authorities and making sure that all of the production systems can operate safely as they all try to deal with covid-19, but obviously, brian, this is important and welcome news for boeing investors that they will be resuming production in the

pugit sound area starting next week. >> wow yet another piece, phil, of good-ish news in a sense, from a macro economic perspective boeing obviously sees something whether it's in health, safety or demand that says let's get people back to work. phil lebeau, breaking news there on boeing. >> karen finerman. guy will have a lot of time tonight i have a suspicion here because the canon spring between up and karen was cut, i think. let's talk about the macro market three things have happened in the last 15 minutes that from a macro perspective bear weight. the president launched the sort of guidelines for the state which seems fairly reasonable on its face and the gilead news and now boeing, at least in washington, if not in south carolina is going back to work we're starting to see -- germany is maybe reopening on monday, and they are starting to be some

macro green chutes out there and maybe i'm desperate to good news, and i apologize if i am. >> no. i don't think we're desperate. >> yes, we're all desperate for good news. i miss the president's remark, i'm sorry, getting prepped for the show, but from what you say they were pretty thoughtful and seemingly something that can be rolled out that's encouraging and boeing which was a huge drag today on the dow despite the fact that the dow closed unchanged is probably going to get back half the losses we saw today. everything on the margins is very encouraging throw on top of that the fact that the stock market has recovered in a very meaningful way. we are here at 2800 in the s&p 500 and the 50% retracement of the all-time high we recently saw and the low we saw in the 23rd of march, 2193. that's very encouraging. i think, you know, the tim

seymour camp that at the time of those march 23rd lows might not be in the cards is looking more and more reasonable. i will say, you know, despite everything we just talked about, i'm hard pressed to have a situation where we don't have some meaningful move to the down side that might not be 15%, but i can see it anywhere from 6% to 8%, but given the backdrop that you just talked about and the fact that the vix continues to sort of melt away is absolutely very encouraging here, brian, yes >> yeah. and for the people that don't know, maybe i jumped the gun, steve grasso, the president having a 6:00 p.m. press conference tonight in about 50 minutes' time and he sort of gave guidelines to the state and gyms can reopen in some places and bars cannot, and that's what i'm referring to you had that and you had gilead and you had the boeing news, sort of all factored together and you can talk about the specific airlines in a second because that was on the opposite

side of the spectrum, steve. i have to imagine that there are green chutes out there, but i guess who can blame them >> of course, and i agree with you, there are green chutes, and i'm sticking to the fact that this market can play from the low side because you have people trying to get back to work and economies are starting and now with the gilead news, we don't know where that's going to lead, brian. >> having said that, if that gains any type of steam and momentum, you can't get in front of a vaccine a vaccine is the holy grail for this entire market it doesn't matter what sector, and what space everything will rally. when is your time to sell the market when we get back to work, when the economy starts up again, because if we see it doesn't happen in a smooth fashion and

hospitalization starts to take higher ventilators sport text are tick higher and then we will reest is the low, but instead you just play out to the market it's -- hold on to tim see meir, it's a quote on every network, i'm not a virologist we all studied the 1918 pandemic and it had a run and it came back worse than ever in some places and there is certainly a risk of that happening and not to be negative on it and you look at the action on the individual airline stocks today, tim, i have to imagine that had to trouble you a bit because we're getting billions in taxpayer money and the stock market doesn't seem to care. well, yeah the airlines have a unique dynamic and if you look at

capacity touch we're talking 85% to 90% and we're not talking about necessarily, we have numbers out of the semiconductors and taiwan semi where they talk about single digits and it's totally different. in terms of the revenue it's lost revenue and the balance sheets are eroding by the minute and not the day, and the week. we know that how much cash delta air lines is turning and it does come back to the duration here there are other parts that include travelings ask i had the implication of such that consumers ooend be interesting -- >> the old skwesy woke up with he with the government loan. we've priced in 80% to 90% down

side go for the balance sheet delta air lines is that one. >> karen, listen i think it was a cowan report out this morning and i was critical on social media, normal travel will not resume for three to five years. if you believe that number then it would seem that just logically say the airlines, no matter how much federal backstop they get are uninvestable. they can't go on with this level of 97% empty planes for that much longer. >> right although there is a lot of middle ground. i don't know what back to normal means and they were operating in the last couple of years and it was boom time for them, and you know, they were able to add on more and more revenue. who knows what the configuration of a plane will look like. who knows if there will be a middle seat? i don't know if struck rally they can get back to that, but there is some middle ground

between where we are now and just the value, zero and some tlefl that there needs to be way, way high arer >> it has to be 50 persz or 75% for her to survive and there are parts of the market that is not trading well and sorry for the technical difficulties about banks. airlines, banks, small caps and some parts of this market are not seeing this v-shaped recovery >> yeah. let's stay with you again, karen. we understand about technical issues and the crew and everyone is doing a spectacular job just putting on the programming that we are every day, so we're glad to see you however that is the damning bloomberg business and we covered it on that and the airlines as well that's one story we understand that 22 million unemployed in the last three weeks has effectively every

restaurant, hotel and leisure worker in america is effectively unemployed based on those numbers. the banks, though, karen, that's an unusual story look at wells fargo. we can bring that up down 5%, 6% today. that's a mortgage story, is it not? are the banks telling us, we have to be more concerned than other parts of the market seem to be. >> i think the banks are telling us that they let us down, right? they were hit a lot more than -- not harder hit than airlines or leisure or cruises, but they were really hit a lot. i'm looking at j.p. morgan, and it was 2.4, five times book and it's a whole book value of j.p. morgan that's lost, and obviously, they're going to have more big write-ups and they'll have more big charges, but i think this dichotomy where j.p.

morgan is trading and where the rest of a lot of big companies are trading, not all, but many that's a big disconnect and i don't know where that will continue and i called the krp, and i think that's kre and that divergence is too big. >> i heard that jop morgan hassa i ceo that people are pretty fond of. >> yeah. >> i'm told. i have learned a few things in the last couple of months on "fast money. karen, we'll get you in a second in a 20-minute run of breaking news, we have more breaking news and this time it is on uber and for that let's go to deidre bossa out west >> it just doesn't top uber with the driving guidance also taking a writedown of 1.9

to 2 billion on investment and dealing with the assistance program for drivers and delivery people as we expect it will reduce gap revenue in $17 to $22 million in q, and it's taking's rightdown from 2.2 on investments and it is also didi, the chinese ride-sharing company is a minority stake holder and the right turn company in russia not only is uber's share price getting pummeled amid coronavirus, but other countries are also feeling the pain around the world. it's the strongest guidance and perhaps a reminder that all of ride sharing is getting hit by this back to you, brian >> yeah.

deidre stock's up 4.5% i'm not going make the broad pronouncements you can do it. uber, one of the largest on the market, is there going ride sharing for humanity given everything that's going on this is literally their business at risk. well, look, i'm going to take a deep breath and all of these things that people say will never be the same. i'm sorry. i don't mean to be cavalier. i don't think anyone will be cavalier from a health perspective, but what we started the show with is the most important thing is testing and some kind of a vaccine and giving clarity on that i don't love uber, and i didn't love it before this, but i think the opportunities that are being created and this may be one of them this is a company that obviously we've been critical of them when

compared to lift and that's what's given them more operational leverage and that's what gives them more problems right now and i do think that's something that the market is playing against them, but clearly, that has seen you sput and the dur airgz of this is going on we had every reason to pull guidance and i want to take a deep breath on the secular dynamics that people say are never going to be the same you know, i -- we can go through them one by one and it's a full show and maybe we'll do that on fast money, but you're asking me about uber is ride share done no, it's not >> that's what i was asking. i don't think anybody is asking if it's gone and there is an exist earn threat where people are perhaps not that thrilled about getting into someone else's car for a while >> what are they going to do >> like an airline >> they're going to buy cars the data that we've seen coming

out of china, jim is as they come out used car sales are soaring because people want to be in their own if they can. that's the data that we're seeing and there are questions to be asked here, steve grasso and that's your job is to look at history and figure out where some of the opportunities in all of this mess may be. >> when you look at it right now, uber is up over 5%. those companies, i do believe that they'll be ride share companies that survive and uber's chart looks a hell of a lot better than lyft's chart right now and when you look at what's not running after the bell is netflix is not running and amazon is not running higher and zoom is actually down after the close, so there will be a rebound, brian, of things that were the corona trade and things that weren't and you'll see it reverse at least short term and we're not reading into anything

as gospel yet, but this is a good indication of when we do start to see substantive headlines around a real vaccine and what the market is hoping for and which direction the market is going go and how exponentially some of these moves can possibly be. >> yes certainly and it's not just about vaccine and it's about treatment, the time line and the availability to the masses those things will certainly change the game, but we're here to analyze economic opportunity. lyft up 5.5% and it fell on the session and now with guidance from uber. all right. coming up, there is one stock that almost no one has a debate and that is amazon the company hitting yet another record high. are too many people piling in for the same name? we'll talk more about that, as well we'll hit netflix and more on the breaking gilead news as that stock is hhe aigr,s well

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compromising on coverage. get more flexible data, the most reliable network, and more savings. plus, get $200 off when you buy an eligible phone. that's simple, easy, awesome. go to xfinitymobile.com today. >> welcome back to "fast money," everybody. the amazing amazon continues to amaze and hitting all-time highs almost every single day. look at this incredible run, up 21% in just two weeks' time and it's an amazing company, guy adami. people are ordering and the company is delivering. here's the question i have for you. too far too fast are too many fund managers and investors putting too much confidence in amazon's stock >>. >> could have said that 10% or 15, 20% ago, if my math is right they're down from the lows we

saw in mid-march, with just an incredible move and we actually, i think, collectively spoke about how well amazon was trading in the wake of what was a miserable broader market back then to answer your question, i think amazon reports on or about next wednesday or thursday. i mean, i would -- if you were trading the stock here i think you absolutely have to take profits ahead of earnings and look for a test back to the 2170 level which, if you recall, was the previous all-time high so a great run probably justified i can't, for the life of me figure out the scenario where they blow earnings out that this will continue so i would suggest taking profits in earnings next week >> karen finerman. guy says if you own it, you should think about taking profits. do you own it? and would you take profits >> no, i do not. i never got comfortable with the valuation which was a mistake everywhere along the way

i thought the piece, though, was interesting. j.p. morgan and amazon, and i think the revenues will be gigantic and also the costs will be gigantic and the $2 raises for their workers' overtime and i think the minimum wage is $34 an hour for that, and i don't know if those costs will stay even if things slow down after this crisis passes or if the revenue stays as well. if people's lives have been fully transformed and they're not going back to brick and mortar like they used to i do think that the cloud business is -- and if they'll continue to grow and valuation, i sadly can't get involved and i think i said that 500 points ago. >> karen, don't worry about it they've been saying it for 20 years, any valuation metric on amazon has never made sense.

i've been having the same discussion since they went public and whatever that was, 20 or whatever number of years ago, and valuations with some companies in particular amazon have never seemed to matter, but should they? >> i don't think they need to matter let's start off where karen left off on aws that is what people never factored and what a blockbuster revenue stream that is and it's been corona proof for everything you mentioned and prime video and prime music. i was a latecomer to the amazon pantry, but now you have the subscription of amazon that's set it and forget it so for me, i'm not going to turn that switch off once we come out of a hole and you'll wind up ordering these things, and the longer answer is i agree with

guy. some resistance at the 2465 level into earnings, i'll be taking profits and the more we see vaccine headlines enter into the equation, the quicker people are going to vacate their amazon position so i would say sell and say thank you, mr. bezos >> wow sell the news kind of an event there on amazon.com. tim seymour, would you agree with that? >> you know what i think amazon is, first of all, always rewarded by the market when you go with growth at all cost so i think this is a good environment. remember on march 16th in the middle of a parade of negative news they said they're going out to hire 100,000 new workers and some of that was to pull in folks that they'd furloughed, et cetera the last 75 were about going for it i do think that amazon, steve started to get into this, first of all, the changes that we

talked about some other sectors that i don't think have to suddenly change after covid is not what's going on with amazon. they were taking market share and destroying players and that's a trend that's not going to change and they're also the biggest ben fishery a biggest beneficiary, and someone like karen -- it's not been ease o y for me to chase amazon and if you had to cherry pick stocks, not in this environment. >> it's amazing, guy, to tim's point. listen, and not being hyperbell onic, but if this continue farce while you can almost see a retail landscape where it's amazon, walmart, target, a cup overall others and no one else

yeah we've been headed that way before anybody ever heard of coronavirus. so to answer your question, it seems to be the trajectory we continue to be on and i get what tim is saying and trying to be pragmatic into earnings and i don't think it's a ridiculous concept to take some money off the table and the stock that's run in the magnitude it has. i don't think any of us are doing this, but i'm trying to read through the gilead note and from what i can tell, this is more treatment than vaccine. if i'm wrong, please correct me, but i think, you know -- i don't want to get ahead of ourselves in terms of vaccines versus treatment and it's an important distinction at this point. >> you are right what we've all been trying to do here on live television is whenever we're not on camera, we're not being looking over and trying to read this university of chicago thing

if you're just joining us before we go to break, bring gilead back up, gild and the news we brought you at the top of the hour which is a pharmaceutical news-based organization, remdesivir which is gilead sciences' drug, 125 people, two phase three clinical trial, of the 135, 113 had severe disease and all of the patients have been treated with remdesivir and they've had a fairly successful rate of recovery or at least improvement from this study. again, one study, limited numbers, not a vaccine to guy's point, but a treatment, but that's sending gilead up and by the way, when the news broke you saw the s&p 500 etf futures spike as well. we'll get you more on that, obviously, it is moving markets and the president has a news conference planned at 6:00 eastern time tonight coming up here on "fast money," a staggering stat on netflix

this is one statistic that you have got to hear literally, if this doesn't blow your mind, i've got nothing for you. back after this. sometimes the challenges of today's world make it tough to take care of yourself, that's why you can rely on nature's bounty... to give you the support you need... to stay motivated keep active and sleep well. add a little more health to your day... with nature's bounty.

welcome back to cnbc's "fast money," everybody. if you're just joining us you missed a lot because there's been a lot of breaking news in just the last 30 minutes or so let's try to recap some of it for you. i've got papers here, but let's just get to it we talked about the gilead news and not only from a humanity perspective and the company with remdesivir experimental drug

with the university of chicago treatment had promising results as a treatment, not a vaccine, a treatment for coronavirus. that sent gilead sciences' stock up and it also boosted the s&p 500 futures. you can see the futures popping, as well. good health data means good market data. that's what really matters you also had phil lebeau come out with some breaking news on boeing boeing saying that it will resume production at its washington state facility next week and boeing jumping on that news, as well and uber, deidre bossa with the ride sharing company is withdrawing guidance for a full year and saying it will take a writedown of 1.9 to 2.2 billion. ride sharing crushed like all travel-related companies as everyone is basically ordered to stay at home three pieces of breaking news.

three big calls on technology today. goldman sachs only on netflix, raising their price target to $490, and initiating roku as a buy this while j.p. morgan chase downgraded first twitter made so much of its revenue from events and new launches which j.p. morgan thinks we're just not going to have a lot of. >> yeah. and sports, too. it's certainly where they've been attaching some of the new launches and it's all about add revenue and certainly, this is a company that actually was building momentum into covid they had successive, and i think this is the environment where twitter shines

although digital add sales are probably the most vulnerable and relative to some of the traditional linear ad sales because you can cut campaigns a lot easier and we've seen some of that data already and it's why google is underperforming in the marketplace and this is an environment with covid and this platform is unique and at some point there is value and it's a reason why you stay in the stock. yeah steve grasso, mdau was strong in the first quarter driven by product improvements and the heavy news cycle and twitter's demand constraint each during normal times and there's simply more downside risk according to j.p. morgan. >> when you look at twitter and it's down 17% year to date according to tim, it's a great asset and in this environment it's too dependent on

advertising. it's the same thing for me with snapchat which i am still long that's down 20% year to date so that one is a great asset as far as m and a is concerned, as well, but you can't forget the elephant in the room which is ad dollars and even if we see treatment or vaccines or the economy start up again, the last thing that's going to start out is ad dollars flowing into these two entities and i would stay away from putting new money to work right now >> all right stay away there, as well, guys thank you very much. let's move on to call number two and that is netflix hitting another all-time high today, and hitting $40 on the stock and guy adami, here is the statistic that i was teasing out netflix now has a market cap, $16 billion higher than exxonmobil now at the beginning of the year, exxon's market cap was

$163 billion more than netflix they've done, what $180,000,000,180 in four months! unbelievable there was no way that's humanly possible and here we are, and by the way, just one more statistic and i think with the move on netflix, i think they have a greater market cap than disney which is interesting bank of america raised their price target and goldman saying record new subs will be adding when they report on the 21st of april, the 490 price target and it had hits and misses and this is one you stay with and if you hit the 490 level which given the way the tape is, it might happen over the next three or four trading days and you might take the money and run and you will see a slew of upgrades in

this name ahead of earnings, i believe, on the 21st yeah karen finerman, and i get it netflix is a dead-heavy, and it is way higher than exxon, given exxon's recent fortune and they recently sold some debt, but are you a believer in netflix, the stock, not netflix the product no, i think we'll see a number of upgrades and everyone wants to be the higher on the street and netflix is reminiscent to me of what happened to tesla earlier in the year and the covid story was the big one of the year and everyone wanted to -- not up the guidance and up their price target by $100 and $200 and also for a company that had a fair amount of debt that wasn't making money that makes a great product. so i think that netflix, obviously, you can see the appeal in an environment like

this, it doesn't get any better for them i think a lot of those subscribers will be very sticky and i think this valuation and here's another one that i cannot get onboard. >> yeah, and i tweeted out earlier, maybe netflix's new motto should be put a tiger king in your tank a little play. and this is roku soaring as much as 15% and initiating the stock as a buy and staying and i read again, steve grasso that roku is an important partner for content producers navigating the ship of monetization to the digital world. are you a believer and are you a buyer? >> i like the roku product i like what roku puts out, but i also put them juxtaposed with

netflix, and roku is an ad-based model and that's why roku has underperformed netflix and i would still continue to sell roku i would average out of netflix at this point and i would not be a buyer necessarily of roku. >> okay. steve grasso there, thank you very much. >> all right coming up, we'll move off technology and on to consumer products and procter & gamble reporting before the bell tomorrow, we'll reveal why a big jump could be in store for the stock to talk about what guidance they may provide and of course, do not miss our continued special coverage of markets in turmoil, that is again, tonight, 7:00 eastern time right here on cnbc. we'll be back with more "fast money" right after this.

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welcome back 22 million, that is how many americans have filed for jobless benefits in just the past four weeks and that can affect consumer giant procter & gamble which reports earnings before the bell tomorrow. the stock is rocketing off its lows and it is now down 3% on the year and options traders are betting it can be a jump mike khouw here from san francisco. mike, take it away procter traded five times their average daily call volume, so close to 37,000 contracts today and right now the options market is implying a move of about 4.4% by the end of the week this is a low-volatility stock and it's implying relatively low moves for procter & gamble the most active contracts were the april 24 weekly and those are the ones that expire a week from tomorrow, the 128-strike call a lot of those calls were trading as part of a package and

it was a 128-130 call spread and that gives us a pretty good sense of the range that the options market is expecting for the stock by the close of business next week and that's a move of 5.5% to 7 1/2% for where the stock was trading in the middle of the day today and the stock was up today and we saw it earlier in the week that they are continuing their dividend increases so procter & gamble may be a place of stability and growth for people looking for a safer place to play whether using options or stocks. >> all right certainly, mike khouw, thank you very much. by the way, mike, we will see you tomorrow for the entire options action, of course. every week 5:30 p.m. eastern time on fridays. tim, you've got a little hesitation on p & g. what's your take >> yeah. yeah look, i get the fact that with job losses and less discretionary income there will be more stay at home and more p & g products consumed and i think that that's the trend, and

it's the reverse airlines and i think that will eventually fade out. we know this quarter will be excellent and i think the third quarter guide will be decent and this is not a secular change on a trailing basis and very expensive, not a little bit. very expensive so i don't need to chase it. >> all right thank you very much. steve grasso, a quick comment here steve, you're a floor trader at the nyse there's a lot of commentary and i'm sure you're seeing people saying how is the stock market with 22 men employed and we should embrace the good news of the market now because the market, i think is saying, better times are ahead >>. >> the market is always six to eight months ahead of it and that's what they're pricing it on right now tomorrow could be an up 500 to a thousand points in the dow so i would look for risk-on, and get out of staples >> steve grasso, thank you by the way, we are awaiting the president's news conference at

6:00 eastern time. you've got some guidelines for states and we'll talk more about that, everybody, we appreciate it traders, thank you very much prak cal advi practical advice some of them change the lines and rules over withdrawing 401(k) plans and what you be doing with retirement funds and we'll t vigeadce just on that topic. we're back right after this. it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪

but right now, the world needs all the good that we can do. to everyone working to keep america strong, thank you. edward jones is it'swell aware of that.et. which is why we're ready to listen. and ready to help you find opportunity. so. let's talk. edward jones. it's time for investing to feel individual. our retirement plan with voya gives us confidence... ...we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. i'm good at my condo. well planned, well invested, well protected. voya. be confident to and through retirement.

>> all right welcome back just a reminder that we are the nation awaiting on the white house briefing on trying to re-open the economy slowly let's get more to kayla tausche for a preview of what we might hear from the president at 6:00, kayla? >> brian, today, president trump told governors it would be up to them when they re-open the states for business, but as long as hospital ok pansy is on the decline the white house provided a three-stage road map for what this could look like in the first phase you would see gyms, big restaurants and sporting venues resume business with social distancing elective surgeries can come back online, too. in the second phase they see

schools and child care facilities re-opening as well as bars with reduced occupancy. non-essential business travel can resume in phase two, and then in the third phase if states do not see any rebound in cases, businesses that are open can increase staffing and senior homes can begin to accept visitors absent from the final document, any dates and deadlines of when exactly the white house expects this to take place, there were conflicting views about how much details were put in this document and how prescriptive it could be for the states, keeping the country fully closed for much longer would be economically catastrophic. president trump suggested that some things might be ready to re-open before may 1st and many others will come much later, brian and to that point, governor andrew cuomo is developing his own re-opening plan with the help of mackenzie and company that he wants it to

be trump-proof brian? >> kayla tausche, thank you very much we'll hear more in just about seven minutes' time. the coronavirus outbreak hitting everything from your portfolio to your retirement fund. coming up, we'll hear from one man who will tell you how to navigate this storm. some real world, practical advice and that matters to your money. that after this.

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your ira let's bring in joel shipton at schroeder's retirement expert and all-around good guy. thank you for joining us 22 million filing for jobless benefits and some of them sitting on retirement plans and maybe tempting to go after that money, what should they be doing right now? >> well, thanks, brian great to be here with you this afternoon. and that's a great question. so you've got people who right now are thinking about how do they put food on the table you mentioned the 22 million who were unemployed and so you think about where do i have and what do i have in my retirement plan and what do i do about it and what's been permitted by the c.a.r.e.s. act and loans, hardship withdrawals and required minimum distributions so as it pertains to loans different retirement plan permits that the act has now

doubled the participant loan limits meaning that participants can now borrow 100% of the vested account balances up to $100,000 and more importantly those that have loans outstanding they can now delay the repayment for up to one year so that's the loan for hardship withdrawals, ordinarily if you're going to take the hardship withdrawal there will be a 10% penalty for early withdrawal for those 59 1/2 or younger. with the act, the government is waving that penalty for certain circumstances and thisis applicable for retirement plans or ira now there are one of two conditions. >> as i understand it, joel, you have three years to pay back the taxes. you don't have the 10% penalty and you will own state and federal taxes on the gains and you have three years to pay those back very true. >> and/or is that you can pay it back or you can just have three

years to pay the tax if you want to keep it or just pay it back over three years you have to meet one of two conditions and that is either you, your spouse or dependent must have been diagnosed with covid-19 or you must have experienced some type of adverse consequence from the covid economic downturn such as the job loss, furlough and lost revenue and the like the last thing i just want to mention is the required minimum distribution for those who are over 70 and a half, the government requires a minimum distribution each year for 2020 the government will waive the distribution, and more important, they'll waive the 50% tax penalty for not taking the required distribution on time for both ires and defined contribution plans >> joel, this is the kind of real world advice that we need right now and a lot of people

are looking at their retirement plans and wondering what can i do what should i do best to you and your, joel thank you very much. just a reminder, the press briefing expected to begin any moment now right now i'll see you tomorrow. jim and "mad" coming up next