morning. john lonski, resident economist, even though your wife is a democrat i'm pleased to have you on the show, young man. pretty good. >> thank you very much. i'm sure she appreciates it. stuart: lauren, ashley, thank you. neil, it's yours. neil: how did john slip through? it is a joke, a very bad joke. thank you stuart, very, very much. stocks tending to rebound after the biggest two-day point drop we've ever seen. the coronavirus fears have been flowing. we pared about half gains earlier on on some other developments including new cases in pakistan but there is a lot going on here. this is kind of following almost day by day, week by week, month by month, how markets responded to sars, how they responded to ebola. it is uncanny. jackie deangelis is looking at that and some historical parallels. reporter: neil, thank you. the dow rebounds off session

lows fausting with a relief after more than 1hundred points lost in just two days. investors are getting back into this market and they're bargain hunting because the bottom line, yes, there is fear about the coronavirus but no one really knows what is going to happen. we've seen a page from this kind of playbook before. markets do tend to claw their way back. when ebola was a threat of july 2014 to march of 2016, there was a lot of volatility but the dow only lost half a percent overall. for sars, november 2002 to july 2003 the dow gained. from september 2001 to october october 2002 the dow lost a little more than 17%. you look at history, get a sense how investors reacted to all kind of different events, ebola, sars cases, they say that they tend to be blips, not events

that define the market. major corona headlines breaking today, the cdc confirming 14 cases of coronavirus and a u.s. soldier in south korea testing positive as well. that is not to say this isn't something to worry about or watch, we have to be careful but put it in perspective, neil. neil: i like that perspective. it is good historical reference. jackie, thank you very much. what if i told you much hinges how the president handles this and reacts to this? not the first time a crisis is how it is handled by the white house. blake burman on what the president plans to do today. hey, blake? reporter: neil, president trump was complimentary of the cdc and hhs secretary alex azar who chairs his coronavirus task force saying he will receive a briefing at the white house this afternoon from both. after that, 6:00 here on the east coast the president says he will hold what he is describing as a news conference here at the

white house with those officials as well. administration officials, neil, they have been highlighting how the risk for coronavirus remains low in the near term. the cdc as well though is warning that community spread is likely at some point here down the line. the white house today is denying that there is any sort of rift with the cdc, with the spokesman judd deere saying in a statement, quote, unfortunately what we're seeing by a political effort by the left and some in the media to distract and disturb the american people with fearful rhetoric and palace intrigue. dr. anthony fauci, institutes of health, was asked when president trump should say at 6:00 when owe looks into the camera at white house. this is part of the doctor's recommendation. >> at the present time things are under control here, but realistically they need to be prepared for the possibility and maybe the likelihood that we

will see more cases here and to the degree which we can contain them will determine the impact on the country. reporter: over here at the white house they asked congress to approve a $2.5 billion spending package to battle the coronavirus, however, the top democrat in the senate, chuck schumer unveiled what he is calling for, more than three times, that, 8.5 billion he wants to tackle coronavirus. here is how it breaks down. $3 billion rather for an hhs emergency fund, two billion dollars to eventually reimburse state and local governments, a billion 1/2 dollars for the cdc, and a billion each for usaid and nih, national instupids of health. what i was speaking with senior administration officials at the white house that $8.5 billion figure is a nonstarter, something the president would not agree with. at this moment in time the 2 1/2 billion dollars they asked for is more than adequate.

they also note if they need more down the line, they can always is for. a bit of a divide what the top democrat on the hill wants and what the white house is asking for. neil. neil: blake, there is a concern, this is natural in the middle of a crisis, handling after crisis, different agencies directly reporting to the president, those outside like the cdc and the world health organization are giving different reads of this. the cdc saying a matter of time before it arrives here. world health organization kind of echoing the same, it is spreading. pakistan the latest. 39 countries now. so the white house, whatever the president's remarks tonight has to acknowledge that, are they going to fight that, do you know? reporter: it is interesting, we don't know the remarks or format really the president describing this as a news conference though we haven't been given guide dance what that may entail. there is a little bit of a i don't want to say a divide of a different read depending who you're listening to.

larry kudlow in this room yesterday was touting comments made by the world health organization. that is an international body in switzerland. the cdc is a u.s. government organization centered here in washington, d.c. at the national institutes of health, bethesda, maryland, just down the road. the administration likes to talk about the near term effects, the risks low but cdc is warning much further down the line with community spread. so you're right, you have got you have different messages or different focal points is better way to put it. that is why we played the sound bite from anthony fauci, what should the president say, the non-partisan scientist said that was his recommendation. neil: very interesting. we'll see what he says later on, the president of the united states. blake burman thank you very much. how did we get down to a gain of 123 points that was over 400? it has been a bumpy ride but a above one.

i look for flashings coming out of china and world health organization but reports of two new cases in pakistan, never had any cases. brazil confirming the first case. that is a first for latin america. italy say the number of cases tripled over just the past two days. south korea looking at better than 1000 cases from a little more than a couple dozen a week ago. so that feeds this narrative maybe they don't have this under control. it can easily be replaced by comments early this morning that the rate of increasing in cases is slowing in china. wham bam, comes a report that the rate of new cases outside of china is accelerating what's going on in china. sort of pick your sort of market poison here. the markets are seizing on the negative for the time-being and wiping a lot of the gains off. to brandywine global portfolio manager manager jack mcintyre on that. jack, this does seem to be a market fixated on this virus, ebb and flow of stories show it

is under control versus those that indicate maybe it's not. what do you think? >> i agree. it is our fixation too. all of our investment meetings start and end with the virus because it is a big unknown. you can model the fed, monetary policy. we can't model the coronavirus and what the ultimate impact is going to be and there is a fear, rightfully so, associated with that and that certainly is impacting the markets right now. neil: a lot of people have made, a lot of doctors on this show, i'm sure they talk to you when you look at it, in percentage terms this is a fraction of the death in cases attributed to the common flu. worldwide 18,000 die of that every year. this is nothing compared to that but it does have a 2% mortality rate. if that were to stick and hold it, could be millions if no cure is found in terms of cases and deaths. that's what unnerves people, right? >> it does.

i would in quoting mortality rates i would actually to the degree you can remove the mortality rate out of wuhan or hebei province because their system, health care system was so overwhelmed. they were on the forefront. now that we see countries in the more developed world, in developing world it is little more suspect, in the developed world, particularly in the u.s., we're making the assumption right or wrong this will be a bad flu sort out of outbreak. it is not going to be worse than that hey, if information changes we're going to change the way we manage our portfolios. that is our base case scenario. neil: kristina partsinevelos is passing along to me an fda warning that mirrors kind of what the cdc is saying the virus is on the pact to becoming a pandemic. a lot of people criticized the cdc when it made similar warnings like that, when more make that i guess it rattles

folks, right? >> it does and you know, this idea of pandemic, you know, i would be err on the side, hey it will get worse, maybe a lot worse before it gets better but i, again, just because there is uncertainty factor. one of the things not happening in isolation, we are seeing globally a significant uptick in fiscal stimulus. you know, that will be a net positive. that will be in the system for extended period of time. if this ends up being, i don't want to be cavalier, but a seasonal influence and it wanes in month or two, stimulus in the system. that is how you get better growth backdrop end of this year, but that is looking through rose-colored glasses right now. neil: it is a mug's game, jack, if you indulge me, we're far away from the closing but we frittered away of lot of gains we had and you remind me there is a long way to go and closing day, but if we end up with a loss of two big days of roughly

2,000 points in losses to say nothing of a 7% slide in the dow and s&p over the last four trading days, there is a loss on top of that today, would that bother you? >> it would. it's very simplistic but i look at the trading the last 30 minutes as you pointed out, for three days in a row we closed closer to the lows. i don't think there is enough fear in the markets. anecdotally getting calls from friends, should i buy high quality names right now, that they have traded lower? that is not the type of fear i want to lear being contrarian. i want to see that big washout trade in the morning and then we spend the day grinding higher at a strong close. until i see that i think there is probably more downside potential for u.s. equities. neil: we'll see. still a ways to go. jack, always appreciate it. >> my pleasure. neil: what if i told you donald trump could decide the course of where this guys or at least people's confidence that the white house does have it under control, is addressing it

forthrightly? many presidents are defined how they handle such crises whether we go back in time to everyone from abraham lincoln during the civil war to fdr during the world war. of course the depression. happening in corporate america too. remember jim burke over at johns and jones and how he was handling the tylenol crisis. remember that the tylenol tamperings? lee iococca, how he dealt with the overall lack of any, any confidence in chrysler cars. that it was surely heading for the junk heap. he rallied a workforce and a country at a crucial time. so who you are, how you handle crises in the corporate world, the political world in a long way. jerry seib joins us, "wall street journal" executive washington editor. what do you think of that, jerry, that the pressure is on the president to outline something that at least insures confidence, all right, we're ahead of this? >> i think you're absolutely right. a lot of what happens in washington is background noise

to a lot of americans but probably not at a time like this. they get focused in. think want to know how the leadership is responding. these are tricky moments. own one hand the president has to say calm down, we have this control, we have this in hand without appearing the administration is not taking it seriously enough. that is a tricky balance. we have seen it before. the president will too to say we've got this under control. i don't think this is a crisis. but on the other hand we're taking it seriously and it is a top priority for our administration. doing both those things in the same appearance is a difficult balancing act sometimes. neil: you can also talk about you don't want to slough it off or panic people. it is a delicate balance. we're already getting mixed messages of global health officials, cdc, fda saying this is a risk of becoming a pandemic. the world health organization, noting number of cases has been

slowing in china. they have been increasing outside of china. so the president has to walk that tightrope. how does he do it? >> i think he make as clear, definitive statement about what the bottom line american government analysis is. what is it? is it on the verge of being a crisis or its under control? everybody in the government involved in this will have their own view but the view that matters tend to be the one that the president enunciates. it is also true how the white house sets up a system to deal with it is important. i don't think they're going to announce an coronavirus czar. they might. but i do remember when the ebola crisis did the obama administration did that. it was actually useful. there is something about having a central voice of command-and-control in the white house at a time like this that proved to be useful. something like that to say here is how we'll deal with this, aside from the question how serious is it.

neil: regardless of people's political views, do you think it is proper over this division whether the president is spending enough money, whether 2 1/2 million or eight 1/2 billion, as chuck schumer and others would cut it, that everyone should be in sync on this no matter your views of the president or president's views of the other guys? >> we're in an environment where if somebody says the sun is going to rise in the east tomorrow that would become the subject of political debate so that is almost inevitable but i think you raising a tranning point. the other thing that the president can do tonight, let's not make it a political football. let's do something about this? to a united government response. i that is difficult in the environment. it starts with how much money we spend on it. that is the currency on the table. the president has political vulnerabilities, before this happened, president sent up to congress, budget for centers for disease control.

that is not a great optic. among others now. one of the tasks for the president let's get this one out of the political realm. neil: watch it closely. jerry, thank you my friend. >> thank you. neil: yesterday larry kudlow was saying he was confident this was just about almost buttoned up. he was saying that on another financial network but one ever the things that has come up, the notion is the administration in sync with others including those under his purview on this virus? kristina partsinevelos with more on that. what are you hearing port fda said we could see a pandemic. that added to selloff a few minutes ago. prior to the selloff, big news coming from germany, a health minister from germany used the word epidemic when it came to the virus. the fact it is spreading they don't have control over it.

i'm paraphrasing. one said close the borders, close the borders. that is contributing to a lot of the selloff. the key word from most of the morning on the new york stock exchange is jittery. traders are trying to get in earlier on this morning by fundamentals of stronger stocks. they're still not confident this will stay strong, given the spread of the virus. you had china,w w.h.o. said it peaked and plateaued over there the major concern is europe. the fact it is spreading very quickly and containment is a big problem. again why we're sealing a selloff just in the last few minutes or so, the fda issuing a warning we could see a epidemic. prior to that you had a health minister in germany use the word epidemic. so those two key words, computers, running machines and selling off big chunks and that is contributing to the almost close to session lows. they're still not there yet. big question is, you know, should you be buying in own the dip? some guys say we could see the

fade-off continue into the afternoon but it is anyone's guess, neil. neil: still early. we have a ways to go. 3 1/2 hours to go. kristina, thank you very much. kristina's point that was downer for folks that wanted to see a gain after four straight days of losses particularly over the last two days. we have never seen such a sizable drop in point terms almost 2000 points we made up. we made up 400 points of that. we since clung to positive territory. that is happening by a thread. now we're negative. this is the first time today we have been. a more after this. give me your ! i can save you... lots of money with liberty mutual! we customize your car insurance so you only pay for what you need!

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neil: maybe the dip in negative territory got traders saying, what are we thinking? who knows. i never go tick by tick. he refuse to do it. when you seize on a moment it is really snapshot. one snap, it is shot, move on. the right now the markets are

wrestling with the pro and con news on the coronavirus. one has it improving or stablizing in china but getting worse outside of china. that was not greeted favorably. this fda statement today, the threat and growing likelihood of a pandemic this will extend to that. that kind of he can kest what we herd out of the cdc yesterday. so we are getting mixed signals here. the backdrop, strong earnings we're talking about, very, very strong. housing numbers blew everyone's estimates away. that backdrop remains here. we'll follow that very closely here. meantime we're following disney stock very closely, in volatile times news bob iger is out as ceo after 15 years. that rattled some folks looking into all of that. deirdre bolton with the latest. what happens now? reporter: bob iger is stepping away from the day-to-day running of disney but he will remain executive chairman through 2021.

he has done 81 earnings calls, neil, he wants to concentrate on the pipeline. i personally heard iger say on the conference call, stream something disney's number one priority. he could not be clearer on that, and that is really war the bulk of his responsibility is heating up. disney plus which launched successfully. going head-to-head with netflix, apple prime video and streaming companies services. insiders told me iger's presence of executive chair is why bob chapek could be chosen. i asked media analyst rich greenfield why iger is making the move now? he had a very brass tacks take. listen the parks are ace tag a massive global crisis. studio faces a tough comparison. headwinds against espn are accelerating. maybe the best is behind, it is easier if bob iger steps out now. what i will say for people a

little bit more optimistic on the future, disney's future. chapek is known as a really good operator. he ran the parks. he ran consumer products. he ran studio content distribution. on paper in some ways if you look at his cv he is more prepared arguably than iger was back in 2005 when he was named ceo. when i spoke with bob iger earlier this spring, neil, i spoke with him about this transition from the legacy to the streaming. he said that is clearly the most important part of the business. i want to leave off on a quick note, if you bought the stock when bob iger took over in 2005, you made better than 400% on your money. neil, back to you. neil: yet all the people, abigail disney, so many others he is paid too much, he is paid too much. that is pretty impressive performance right there. reporter: it is. he is known as gold standard ceo for sure. neil: indeed as you are. deirdre bolton on that.

2020 candidate bernie sanders just since the debate last night raising north of a million dollars. that is coming under constant attack. take a look. >> if you think the last four years has been chaotic, imagine spending the better part of 2020 with bernie sanders versus donald trump. >> i do not think this is the best person to lead the ticket. >> can anyone in this room imagine moderate republicans going over and voting for him? neil: democratic presidential hopefuls look towing make up some ground ahead of saturday's big south carolina primary. hillary vaughn in south carolina with a lot more. hey, hillary. reporter: hey, neil. the gloves really came off last night. the debate at times descended into chaos. moderators lost control. candidates were talking over each other but that strategy may have worked and translated to more money for some of these candidates. mayor pete buttigieg's campaign said they raised more money this debate than they have since their last biggest fund-raising

haul with the breakout debate in october. bernie sanders's campaign announced they raised $1.2 million halfway through the debate, before it was even over. not every candidate brought in a lot of money. former vice president joe biden started the night saying they needed one million dollars. they ended the night still needing about 75% of that. >> mayor bloomberg has a solid and strong and enthusiastic base of support. the problem is they're all billionaires. [booing] >> putin thinks donald trump should be president of the united states and that is why russia is helping you get elected. so you lose to him. >> progressive agenda is popular, mayor bloomberg. you cannot earn the trust of core of democratic party. he is the risky evident candidate on the stage. >> talk about being progressive. wanted primary, he said we should primary barack obama. >> i'm hearing my name mentioned

a little bit tonight. i wonder why. >> we were talking about math and it doesn't take two hours to do the math. talk about the math. talk about math. reporter: joe biden may not be bringing in as much cash but he is getting something that is prizeless. today he got the endorsement of congressman jim clyburn, one of the most important and influential democrats here in the state. that is something that campaign cash cannot buy. neil. neil: there is that. they did save some time, hillary by talking over one another. otherwise it would have gone on forever. thank you. great reporting as usual. michael bloomberg came through unscathed on all this. could have been a lot worse, better performance than last week. the attention and target clearly on bernie sanders. get the read on that, this is example of that. >> do you think senator sanders economy would be better for america than president trump's? >> i think that donald trump thinks it would be better if he is president. i do not think so.

vladmir putin thinks that donald trump should be president of the united states and that is why russia is helping you get elected so you lose to him. [booing] neil: oh, no, he didn't. anyway, michael bloomberg had his wheaties that night. surprised a lot of folks. he more than came punching back. the question where it places him in this contest. national spokesperson erin mcpike is here. >> so glad to see you. neil: in this capacity, cone grootlation. >> thank you. neil: you know your boss was hanging on a line there after last week. he loaded for bear last night but it was a crazy debate, right? >> right. well the first debate is always tough. last night michael bloomberg showed that he is calm, he is steady, he is a presidential. he is the right person to lead this country. you've been talking all hour about coronavirus. michael bloomberg is the only candidate in the race who has the kind of executive leadership experience you need to run this

country and manage through a crisis. he is the only one who has done it. he did it as 12 years of new york city. neil: did he handle a health crisis? he came in post-9/11 world, i get that. how will he react to whatever the president does tonight? >> react to whatever the president does? i'm sure he will talk about it in the next couple days. neil: democrats have been criticizing the president. that he is not really responded forcefully enough on this. >> he has not. he has not responded forcefully. mike bloomberg as he travels to a disease cities before super tuesday will show a great leader he is is and will be for the country. neil: when you talk about that, strategy of michael bloomberg deny anyone on a first ballot. the way it goes now, you don't want bernie sanders to get on first ball -- ballot. superdelegates come in to play on second and follow-up ballots. is the strategy to win them over in case no one closes the deal

on ballot enough. >> we're not getting ahead of ourselves. neil: that is what we do, get way ahead of ourselves. >> we're looking to super tuesday, one week, in fact six days away. we're traveling the country. we have a number of people fanning out across the country, to talk to americans, get to them where they are, talk to issues important to them. that is what you can do when you have a campaign stuff of our size. all kind of people supporting mike bloomberg in all kinds of parts of the country talking about issues in rural america, in industrial cities, everywhere you go, we're talking to voters. neil: do you worry, erin, you don't get a second chance to make a first impression? a lot of people know michael bloomberg but a lot of people don't. most don't. the debate they remember the first one, not last night? >> i think they will remember last night. neil: yeah? >> mike bloomberg showed he was a leader. he was the best person on the stage. he was calm, he was steady. he was presidential. neil: were you surprised by the constant attacks by elizabeth warren? >> not at all. elizabeth warren is trying to remain relevant in the race but

we have to keep our eye on the ball. bernie sanders is the front-runner. he is finally being treated as a front-runner. we one shot to get this right. a week to go until super tuesday. we have to keep looking at senator sanders because he is not the right person to go up against donald trump. neil: let me ask you, mr. bloomberg still committed to if he doesn't get the nomination helping, paying for ads, what have you for the one who does? >> he is going to keep an apparatus in place for the democratic party. that is really important because the house is at stake, the senate is at stake. there are governors races across the country. neil: even if it is elizabeth warren? >> of course. we still need to make sure, no matter what happens we deny donald trump re-election and that we have democrats winning all over the country. neil: erin, very good seeing you. >> good to see you too. neil: we're talking about crazy markets. there is a stock, whole incredible week, right from the beginning of the year, more than held up. in fact it has been rocketing apropos because virgin galactic

and ceo is joining us. the stock up better than 200% through all of this. after this. at fidelity, online u.s. stocks and etfs are commission-free.

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. ♪ talk, talk neil: might be a bumpy ride for stocks this week today notwithstanding although it has been a crazy ride. if you think about it, virgin galactic, that stock this year more than tripled. it is down a tad.

started the year $11 a share, now at 32, $33 a share range. ceo of, virgin galactic ceo george whiteside with kristina partsinevelos at the new york stock exchange. welcome. >> we're celebrating george's 10-year anniversary. he has been with the company for 10 years. even though the company went public october 28th, 2019. talk about the trajectory. the fact you're seeing stellar movement. cone gratlations i'm sure you own shares too, right? tell me more about virgin galactic and the recent pop? >> virgin galactic is the world's first commercial space line. we aspire to open space to dramatically more people than in the part of. and we're also looking forward to eventually moving to high speed point to point transportation in follow-on space we have exciting part to the story. >> you're working on that then? >> we're working on that, yeah. >> when you talk about space tourism. a lot of people show interest of late. you gave a number recently,

8,000 people want to sign up? isn't it too expensive? >> so we had the earnings call yesterday we had now reached 8,000 people, roughlythousand people who expressed a dire to go buy a ticket. we're in soft close of ticket sales. we have not released a another tranche of tickets. we have 600 people buying tickets. $120 million of future business and 80 million in deposits. 8,000 would like to buy a ticket when we open again as part of one small step program. >> one small step? >> one small step. one giant leap. >> if i am interested put down 1,000-dollar deposit, much like me getting a tesla from elon musk as well? >> what we're doing, a lot of people on the list would like to buy a ticket. what the one small step problem is able to zero in on people most interested right now. it is not formally like a

deposit but like a way to express their veer to be at the front of the list when we do reopen tickle sales. >> it is refundable? >> refunnable. >> space tourism, $250,000. you will change the price, it will go higher? >> yeah we have in the past selling tickets for $250,000 as you say. when we reopen the ticket sales the price will be higher. we haven't released what the premium pricing strategy will be but we think market will bear. early nature of flights will be able to charge more. >> where are you making spaceships? because we end right now, we have coronavirus being a major top pick of conversation. some of the parts do they come from china? how is that affecting the building of your ships? >> we build our entire ship in mojave, california. >> but the parts? >> all vertically integrated. >> congratulations on 10 years at the company. i will give it back to neil. if you have any questions neil, i can easily relay. if not, thank you for joining

us, george from virgin galactic. neil: i'm putting 1000 bucks to put charlie gasparino in one of those puppies to see what happens. >> he cracked a joke about one of our colleagues. he hears you. i don't know why i'm repeating it. neil: very nice having both of you. thanks for taking the time. meantime we have some low mortgage rates today following the low rate environment that we've been seeing at the corner of wall and broad all this week. it was already firmly in place for housing. we already had numbers out on home sales that blew all estimates away. can you imagine with added catalyst of much lower, indeed all-time low rates, what happens after this? well after this. don't just plan to retire. plan to live. an annuity helps cover your essential monthly expenses, so you're free to live the life you want. find out how an annuity can give you lifetime income at protectedincome.org

neil: the u.s. state department issuing a travel advisory for italy saying that u.s. citizens should take extreme caution when traveling there. jackman -- jackmandela in a

university of wisconsin, i believe at the airport there. good to have you jack. >> thank you, neil. thank you for having me. i'm currently at the rome airport. my roommate and i are planning to go to madrid this weekend to get out of italy because our program has been suspended for three weeks. we're not really sure what the situation is. we're trying to get out of here as of now. neil: i'm sure you're not alone. is it crowded there? >> we just waited 2 1/2 hour baggage claim, check line. so it is pretty packed. neil: i've been reading all of this stuff, jack. there are 10 cities that they don't call it a quarantine but that are all but shut down. that is unprecedented for italy. i'm wondering how italians are dealing with that? >> i was walking around rome today, and if you were in rome

you won't know it. people walking everywhere, going to work, grocery stores, restaurant. maybe one out every one hundred people wearing a mask. i have friends in florence, i know it is much worse there. not as many people going outside. many more people wearing masks. it is becoming serious up in the northern areas but really hasn't made its way to rome yet. neil: are you on semester study program? >> yeah, mid-january until beginning of may. neil: okay. it is suspended for a few weeks. suspended because of this or what? >> yes. so the school on monday sent out an email saying all group excursions through the school would be canceled because they didn't want a large amount of students in crowded areas. then 24 hours later, they sent us an email saying the entire program would be suspended for three weeks. that we would have online classes and we should contact our parents to talk about possibly leaving italy and even going home back to the u.s. neil: obviously your parents are

pretty worried and your family might be worried. what do you tell them? >> so i have spoken to my parents. our plan is to get out of italy. go to madrid for a week. i have a roommate, friend of mine has a room there empty that i'm planning on staying in. so i will go there for a week. neil: does your friend know this? is your friend aware you're doing this. >> yes. -- for me. neil: you have something, you have a great stories to tell when all this is said and done. is it your, telling you, university of wisconsin, all right the program will resume in a few weeks if things calm down? i wonder what if they don't, then what do you do? >> from wisconsin they sent a precautionary email about it but the school cea, program in rome said as of now it is resuming in three weeks but they will obviously take a look at it to see you who the situation in italy is progressing. as of now we're scheduled to come back in three weeks. i have another roommate back in

chicago already. kind of difficult for him. neil: that would be a tough call, the food where you are which is great. madrid's great too. >> unreal. neil: you can't go wrong there. i hope everything goes well. jack, thank you very much. hope you get out of there. >> thank you very much for having me. neil: jack van dela. growing fears, the tokyo olympics believe it or not could be canceling a long as this drags on. sports agent doug eldridge representing athlete the in upcoming mace and many more. how likely would this be, maybe they want to get a sense where they are in a month, month after, the games are scheduled in the summer how soon do they have to lock up the decision yea or. >> i? >> opinions vary on this, neil. the games are slated to start july 24th there is a blast radius two months out, three months out, how close is it an option to consider moving or altering this but when you hear

people talk about shifting this around like pieces on tetrus board they don't appreciate the sheer size and scale of summer olympics. rio olympics 11,000 athletes, competing across 28 sports across 37 venues. i say that to say there is nothing like this on the american sporting calendar can come close to the sheer magnitude. moving it, shifting it, bumping it forward or backwards is not as easy a lift so to speak as you might think. neil: has this ever happened? you're a great student ever sports history. i third of things canceled as a result of political squabbles and cold war tensions with the russians and you know our protesting going there in 1980. the russians returning the favor in '84 but not for something like this? >> no, sir, there was wartime cancellation. that was wartime. boycotts driven by politics and underlying divide inherent during the cold war period. in terms of a worldwide global

epidemic or outbreak we've never seen that before. when you look at recent e eolympics, the widows in sochi or the virus in rio in 2016 or political instability heading into the pongyang games in 2016, nothing is on the scale of the coronavirus. we're seeing now 80,000 cases, nearly 3,000 deaths across europe, asia and the mina region this is terrifying. this is terrifying. i mentioned statistic about 11,000 athletes from 200 countries, they're coming literally from around the world to a one central place, an island no less, not to sound dooms day or the potential for cataclysmic impact is not to be underestimated. neil: they said large gatherings of people, that is the capital of large crowds this summer. i feel bad for athletes who might be denied a chance to

compete. but we'll see. >> it is really tough, neil. the thing you have to remember. olympics are every four years. not like the super bowl where patriots lose they can run next year. olympics are four years. they literallily train for entire life to qualify for one olympic team. whether you move it back to the fall which is prohibitive because of television conflicts or moving it forward to 2021. it doesn't work or mesh on the economic side or actual side. ioc does 4 billion in media rights contracts during a four year cycle. nbc alone in 2016 made 1.2 billion in ad sales across traditional media and their digital platforms. so you have the economics of scale. you have the actual harsh real realities for athletes. we pace this way once as saying goes and if we pass this by it may not return. neil: doug, a great job as

always. appreciate it. >> thank you, sir. neil: meantime a lot could hinge on this day, trading for tomorrow. forget about today and what president trump says tonight at a news conference which he will among other things outline what the white house is considering doing and what the forces of the federal government are doing to get a handle on this coronavirus after this. ♪.

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so i put 1000 bucks on the list to get you up there. >> have they sent monkeys? neil: i volunteered you. i will keep you posted. >> you've been practicing that line for a while. neil: just in the break. so what do you have on this? >> sometimes the best research does come out of wall street about trade, about different things when you see major events going on. so i asked, what have we got from the big wall street firms which have the money to do the deep dive on the coronavirus? i'm asking this from brokers because brokers have to deal with small investors and have to tell them here is what our research department says. what the brokers are doing, it is interesting, it is a complaint. they have nothing to say to their clients. neil: really? >> that the research departments are unable to quantify this in meaningful way. they're trying to quantify it in number of deaths, telling people, you know there has only been x-amount of deaths compared to how many people are infected but those numbers are suspect as well by the way because we don't

know how many deaths china is hiding. there is squish in there. you can't really figure it out. neil: they also question what we're getting out of there? >> yes. they have no way of quantifying what is coming out of china. even worse than that is the economic impact. because you don't know whether this is going to be really bad or a non-issue or something in the middle, it is hard to give any numbers. so, what that is doing essentially, when people call up the broker and say, what do you got for me on this? you don't know. the knee-jerk reaction is to sell. that is part of reason why you're seeing sales. neil: volatile, right? >> some of it is retail or hedge funds. by the way hedge funds have nor money. they can blow out much more stock. so the market is up marginally today but after those two days yesterday, it is like -- neil: can i ask you a dumb question on that? we were up better than 400 points for a while today. we don't obsess over day by day

gyrations here but i can't imagine it is a food thing after all the markets have been through, four straight days of losses, 7% of the dow and s&p, 2,000 points last two days we end up down today, getting way ahead of ourselves, that can't be obstructive development. >> being up 90 is not a constructive development. back what i'm saying, dearth of information, democrats use this politically, i'm hearing from early stage drug companies, the trump administration the last three weeks reached out to various companies, through the fda, the government, trying to figure out which companies have promising anti-viral drugs that can be deployed. neil: is this time of political infighting on this? >> it is horrible. i'll tell you not the time to do it. want to attack donald trump, go ahead but on this stuff i don't know how you tell him to put out drugs immediately when they need to go through fda faces.

but they are doing stuff but i will tell you this, neil, the bigger story i think in terms is the market. wall street's research departments are at a complete loss and when you don't have that type of stuff you will see wild swings, we're searing that. we'll have more after this. you should know... they are not fda approved... they may have saturated fat and may even raise bad cholesterol. to treat very high triglycerides, discover the science of prescription vascepa. proven in multiple clinical trials, vascepa, along with diet is the only prescription epa treatment, approved by the fda to lower very high triglycerides by 33%, without raising bad cholesterol. look. it's clear, there's only one prescription epa vascepa. vascepa is not right for everyone. do not take vascepa if you are allergic to icosapent ethyl or any inactive ingredient in vascepa. tell your doctor if you are allergic to fish or shellfish, have liver problems or other medical conditions

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neil: we have got the dow up about 130 points. we had wild swings down as close to 100 and then up over 400. after two days of being down 2000 points. the last four trading days we've been down 7%. it was almost like we were knocking on the door at 10% correction. no idea where this goes in about three hours but we shall see in the meantime. maybe some closure on all of this from testimony we are getting out of top health officials on capitol hill and later tonight the president of the united states outlining of a press conference on what the united states is doing on this. edward lawrence has the latest on all of that.

reporter: the w.h.o. now indicating in their news conference minutes ago that the coronavirus is out, it's writing, more new cases outside of china then there are new cases inside of china for the first time that happened yesterday. here on capitol hill the health and human. undersecretary alec cesar talking with house members to talk about diverting and getting new funds to help contain the virus in the united states. alehe says they are out of mone, it's either been spent or already obligated, that is one of the reasons he is asking for money to be diverted or adding money to contain the virus. both republicans and democrats questioning $2.5 billion may not be enough. >> i've got the green light from our side of the aisle to say if we have to go beyond this please feel free with your colleagues on the other side that we will work with you on that.

reporter: the senior democratic aide saint chuck schumer will be submitting a plan today with $8.5 billion to continue the virus here in the united states. alex azar changed his language now he say the administration wants at least $2.5 billion, members of both parties say no money should be diverted from the ebola prevention fund, in fact democrats on the committee saying money should be diverted from the department of defense giving a little political. >> would you be okay with taking funds that have been redirected for the wall and redirecting to stop the coronavirus? >> i do believe the administration would be supportive of that the congress will make the decision how to fund the supplemental. reporter: about 30 minutes there will be as another subcommittee health hearing that will have cdc as well as nih officials, we should get an update as to exactly where things are in the exact update on what the c cdc said yesterdaa

matter of when the virus spreads in the united states. neil: thank you my friend. as he was saying, they're getting a confirmation telling global staff to hold all international travel and curtail a lot of domestic trips. this goes on the region of asia, we have a couple more countries joining the list of those affected by this virus including pakistan, more cases in iraq, more cases in iran and brazil. this is escalating, that's a kind of thing that a lot of people want to get clarity from the president of the united states, when he addresses the nation and outlines what the plans are to lock this down. by that i mean to button it, what larry kudlow called it, and that we have this under control. we have the editorial republican strategist, market editor dion. the back-and-forth on money spent which should be committed,

where you think this is going. >> obvious is the president has to say i'm in sync with everybody, coordinating with everybody, but everyone is saying something different. >> it was fascinating how quickly this term political. let's bring 70 from here and not from there. what you don't want to do is get caught playing politics and something bad happens and you get a serious outbreak and a major city, new york, l.a., chicago or something like that and people get sick and say where was the money for the response of this. that will be a huge thing. neil: for chuck schumer to blaster the president wanted to do. to keep it a political was a wise thing to do. he could've privately said you could do better than 2 billion but to automatically come out of the gate. >> it does raise fears, 2.5 billion is a drop in the bucket, 8.5 billion is a little more and you push the number up and people get a little worried. that is the big worry, you do not want folks to worry, you

don't want people to panic, you want to stay going out, going to the mall, spending money because consumer spending is the thing that kept the economy going. all through the presidents trade war last year end going into this year. use all very strong numbers on economic indicators if folks get scared, that's when you start. neil: we remember that with the financial crisis buried this is not that, i want to stress that, the president and how we handle this will go a long way to deciding where this all goes. >> i think this is what happens in politics all the time, politicians talk and families worry and real people die while they're running their mouth talking about who's going to get the credit. my high school football coach called me last night and yesterday to 50 kids both to be going to disney world in a month. he's asking, should we be going, if you don't think those are conversations that are happening, the kitchen cabl tabe across america you're lying to yourself. democrats haven't spent the entire cycle talking about all the plans that they have and they have no way how to pay for

them and meanwhile all the sudden they want to know exactly how much money we are going to spend to the dollar instead of saying we have a problem whether it's 2.5 billion, 8.5 billion, let's get it open today to make sure we can save lives tomorrow. neil: and works on both sides, the president and chuck schumer in india, you can catch them on both sides, we will hear from viewers on that. this is a golden opportunity for the president, abraham lincoln, in the middle of the crisis, it's not yet that but to calm people down, not to minimize it or swap it off but to say i'm on top of it. >> absolutely, i think the best tool the administration had at this moment to call panic was good communication, rolling out information in a common way, we did not see the unfortunately, we saw the white house and something different than the cdc was saying. neil: the health and human services secretary. >> he is trying to get on the same page now but i think he

really missed an opportunity to make things feel at ease by rolling out information in a scattered way people fighting over what the truth was. that scares a lot of people. neil: that's what gets me. the market you could tell the trade on this, i know there's algorithms that say, based on what you're hearing, increased number of cases, you punch that in and boom. the fact that the cdc says one thing, fda says another. under the health and human services alex azar says another thing, i did most people just want some assurances, everybody on the same page, yes this could be potential pandemic, we hope it is not, but it could be. and the president to echo that and say he's in charge. >> this is where you come worry about chickens coming home to roost break the president has told so many untruths and installed 70 loyalists to oppose technically capable people. you have to worry about a lot of the country does not believe anything the president says.

>> there are parts of the country that believe everything and other parts of believe nothing. neil: what is more crucial is that he can calm people down. this is where the president serves as both the consoler and the cheerleader in chief. to get everyone to realize -- >> you look at things that are moments in the presidency, the man does not make the moment often, the memo enter moment meets the man. this is the moment for the president it allows him to connect the thread on things he is talking about. to say when we talk about border security, that is not just national security, it's talking about public health, were talking about how do we make sure americans feel safe in their home, there is nothing more terrifying than someone sneezing on you in the subway and then having the ripple effect that decimate the city. these are the moments were president trump can lean into a lot of the stuff he's been talking about and saying this is the moment why people went four years ago and elected me.

neil: how do you handle a crisis for jimmy carter was famous, i admire the man greatly, but he talked about all this but he could not get a grip on the energy crisis that ensued, very different type, i'm not been amazing either case. but he lost an opportunity to sort of get the american people with him. had this president avoid that? >> no one ever accused him of having a common presence. at this point what he could do is lean into the fact --'s supporters do listen to him and he does have a problem with some people not trusting every he needs to get strength and say i got this under control, i am a good leader and we will figure this out. neil: what about the press conference, the same people in that room are going to say you just said you had this under control, larry kudlow said it was all buttoned up. so what happened? >> i think it is very similar to the financial crisis similarly we never experienced anything like that before and that modern

history. i think similarly we hadn't seen anything like this, or lichen stars or anything like it. i think from the cbc, to public health experts who are tiny different things, they all have a different take. >> he has to rely on relevant. neil: you mentioned the financial crisis. if memory serves me right, barack obama and john mccain were even in the polls, the financial crisis and it was a six-day point gap and it never narrowed after that. for this president, the americans proceed it's getting out of control with the market and the economy, were long way from that, i grant you, that could be a game changer. >> what the get under president has to mean is maybe being too calm, telling them things are too great. if you thin say everything is gt and don't worry, then you see 20, 40s, 16100 if he tries to say everything is great and we start seeing more reports of

people infected, maybe you have to lock down a major city, that goes directly against what he says and then you have those people who are opposed to the president saying this guy is lying again, everything in the sky is falling, i better lock myself in my house and board up the doors and windows. that's the exact same thing you don't want pretty has to take a major tone, make sure he is consulting with experts and that he has information on lock. neil: i think democratic leaders to to avoid making this look a political thing. >> when you talk about the fundamentals of our economy at strong and a week later you have leaders going out of business. neil: that is exactly -- >> now you have somebody like john mccain saying we're going to get off the trail and barack obama say know the president has to be able to walk and chew gum at the same time. neil: barack obama was elected president of the united states when the incident happened. >> i think again president trump has the opportunity to do that and i think democrats would be

unruly. they have squandered an opportunity to fill the void because they are squabbling over decimal points and decimal points are while there's a real public health crisis coming to our shores in people's homes. >> we do know the case of when and not if, they should get it under control with information coming out of the administration really vital right here. neil: is a good thing, the problem being very transparent and open unlike china and some of the other areas and then it hit iran. we let it be known whence we start panicking and start getting nervous . there's no turning back. thank you. they will be back, the dow up a little over 63 points. we are also getting updates from china, they were talking and bragging about getting a little more under control in china, they said that before but the rate of increase is slowing down and when we get news out of other countries outside of china is speeding up. that is what confuses the markets. we will have more after this.

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[ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >> vladimir putin thanks president trump shoul should be president of the united states that's why russia is helping you get elected. >> i would make a better president than bernie. >> if you think the last four years has been chaotic, imagine spending the better part of 2020 versus bernie sanders versus donald trump. >> bernie sanders analysis is right, i don't like his solutions. bernie has not passed much of anything. >> it matters if we can actually get things done. neil: the winner of last nights debate, michael bloomberg because he was not the piñata. but bernie sanders held up well, did he benefit from it? early fundraising signs that he got over $1 million as far, too early to tell on that but he

gets all the small denominations back with the new york post editorial brooke rogers, republican strategist joseph pinion and editor dion rabouin. i don't know what i did. do you look at these debates, if i am bernie sanders and i absorbed all of these attacks in raising all this money, they did not bury him. >> i think if anything this just lit a fire under sanders supporters, if they can have any more fire underneath them because of very enthusiastic about their man. but watching the whole debate stage prior long, he had a target on his back, he had a great show in iowa, he won nevada, new hampshire, they all know bernie is the guy to beat and that's what were seeing now. >> this reminded me about the story and he was throwing hay makers at ali and ali looked at him and said is that all you got. [laughter] it was all i had.

that sort of seems -- that's all you got. neil: who's the dope. >> the other seven and guys and ladies onstage throwing hay makers. >> i think the dope is the democratic party. they spent three or four years throwing everything that they had a president trump. and you cannot be created or destroyed just simply transferred from one party to the next, president trump is on 1000 right now, he's going strong and democrats are tried to throw everything that they have a bernie sanders. he is only getting stronger as well. neil: i can remember everybody missing donald trump four years ago, i'm old enough to remember the carter folks dismissing ronald reagan almost 40 years ago. god i'm old. [laughter] surprising things happen, i don't know whether the coronavirus but other republicans sounded too cocky at

the prospect of helping sanders and ripping him apart, history has a way of proving you could make an error. >> you can be careful what you wish for. i think i said last week, the most dangerous thing in politics is a movement. at that point, the tail is wagging the dog. though supporters are proving, you cannot tell them anything. when you have that type of rabbit support where people who walk on fire and hot coals for you which is what bernie bernies supporters are, you cannot estimate what that will change late two. if were talking about where we are as a party, i think president trump is in a good position, i said last time, you don't want to be sitting here arguing about fidel castro. make it very clear, o.j. simpson was one of the greatest running backs in the history of the nfl, they don't name stevens after him because it's likely he's a murderer. you'd want democrats saying we know pastor was a murder but at

least we don't have to worry about the fact he talked to children of the people he murdered how to read. >> i wonder how that pairs in the general election. >> just like bernie has castro, trump has his pinpoint that you can throw him. he said a lot of things that are equally to the american people praising castro. neil: what a fund debate that would be. >> to new yorkers screaming at each other. [laughter] neil: thank you. we are going to take a quick break. don't forget south carolina primary this weekend, we live as we are every saturday. you are welcome america. giving you the latest results, this is a must win for joe biden as you know we will be following the coverage very closely. 10:00 a.m. to noon on saturday, we are there for you. after this. ♪ with sofi, get your credit cards right by consolidating your credit card debt

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>> you have been in the press a lot young man, a lot of the crazy, what you're doing and a lot of condemning same, god look what he's doing. are you invading people's privacy? >> we are a law enforcement tool that helps law enforcement solve crimes and only searches publicly available. neil: you took his picture and within seconds you had 81 photos from sites. >> it's just the beginning, strict labor law enforcement. neil: a little problem with that a icl was talking about something last week, he said it's unlikely to happen anytime, controversial technology that is not been hacked which who is portrayed on the fbi most wanted list, he's not but it could happen. it scares people. fox news headline brett larson on all that. it is scary stuff.

it happens, i'm not here to rip them on that but this is a company you don't want, this is definitely the technology that they have is quite writing. >> i understand his argument that law enforcement is using this, also law enforcement -- they can take a picture and cite any and all instances of the similar pictures anywhere and everywhere. >> virtually anywhere on the internet. anywhere there's publicly available pictures they can search through that. that includes maybe you were walking through someone's photograph when they were out in time square taking pictures of a hot dog stand. if you're in the background in that picture was posted publicly, that picture would come up still you in the photograph which makes it so terrifying, they were hacked in their a.i. was not stolen, just their client list was taken, now someone knows who they are working with and what request

have been made of the database, and it of itself, is a little frightening you could go through that and say is there a police department making -- doing a photo image search for me and should i b concerned about that. this is very invasive of her privacy but a lot of technology is invasive of our privacy. the irony to all the big giving all these companies are information and photos for years. neil: you touched on this years ago or maybe months ago but we like the convenience of the technology and we kind of shrugged our shoulders without. >> we don't really think about, how does google pay for all of these web servers for me too do all these great comprehensive google searches. they paid for by capturing every little detail of things that you do putting it into a giant database and selling you advertisements based on your behavior online. >> update me on the robocall to have them and where are we. >> i love the app, do not pay,

they have been making waves over the past couple of weeks, they were here on fox business, their founder talking about a great idea, app that helps you fight them, putting your phone number in it add you to the national do not call registry. once you're on the do not call registry, if robo callers call you, they are in violation of the law, they are not supposed to call you, there's a few cut out of who can call you but robo callers are not one of them. they basically give you a burner credit card so when they say your car warranty is expired and we want to renew your car, car warranty, i don't own a car, but they're going to take your credit card information when they give you your information. that lets the do not pay people find out who they are, where they are and you can turn around and sue them. neil: can't you call your carrier to say this number that keeps coming up -- >> sometimes it's a spook numb number. >> you can add it, there are several apps that you could get for your phone that will act as

a middleman when your phone rings it'll check a database so you can attitude database like that. but in a lot of instances i've had people call me back saying why do you keep calling me, i just got three phone calls from this phone number and someone is clearly using my phone number as the spook. i don't know why. neil: just hang up. >> that's what most people do. neil: thank you very much. brett enter brett larson, back in new jersey a million attacks back on the table, the very crate away of coming up to get more money. not very creative when it comes to saving more money. the garden state just the latest example after this. ♪

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neil: if you tax that they will not come. a push to soak environment, state population may be hurt by graduating income tax policy. jeff is following all of that. reporter: i come to you from a very cold oak street and chicago. it's about to get colder if you're wealthy and chicago or anywhere in illinois because it looks like a tax increase is coming. take a look at this. the five fastest growing in terms of population states in the country in the last decade. take a look at them.

utah, texas, colorado, florida. what do they all have in common, they all have a flat income tax or no income tax at all. one of the slowest growing five states and the last decade, that would be west virginia, illinois, connecticut, vermont and mississippi. what do they all have in common, they all have a progressive tax except for illinois. the wealthy, the more you make the more you pay in terms of the tax rate. but now illinois trying to join the one to have a progressive tax rate. already people are leaving illinois because of the taxes. 105,000 people left the state last year alone, that is 288 an hour, every five minutes somebody is leaving illinois. they hope to raise about $3.7 billion by increasing tax rate on the wealthier folks. the problem is, if those folks leave, here's how the study puts

it. if the governor tries to treat illinois and as cash counts, they will likely leave before he gets to milk them. on the positive side as we tried to be fair and balanced, the new amendment that would change the state constitution would give a tax break to you if you make less than $100,000, everybody else gets a tax increase with the wealthy, tax the highest. right here on oak street, this is where the fancy people shop, these are the guys that will pay the bulk of the tax. neil: that would be you young man you see very at home there. >> not anymore. [laughter] i work have the money for half the time and that's okay with me at my age. my kids are grown. neil: i got a pretty great job and very brave of you to wear that coat. i do appreciate that. i love that guy. in new jersey's governor phil murphy giving a cold shoulder to the very rich. see what i did culturally. he wants to tax the states

wealthiest residents. >> we can keep this progress going but only with recurring and sustainable revenues. there is no better alternative than millionaires tax. it is not the wealthy who bear the burden of our tax system, it's the middle class. neil: already the new jersey, top right is among the highest when it jumps up to 11% it will officially be the highest in the country. back with our panel, dion, what do you think of this? >> i think this is a monadic at the moment where we are in the world that governor murphy hasn't proposed paying for a particular program saying we need this in the schools or we need this directly. >> he says no i want to tax the millionaires and maybe we can do this or that. usually you have a big plant and say i want to do this, i want to spend all the money on this and here's how we will pay for.

even the opposite way, he says no, i want to tax the wealthy, these millionaires are making too much money, we want to get some back for the state. i think that's the interesting part of the story. it seems like illinois is on the same boat. there's not a big policy they want to paper, they just want to tax it seems a bit punitive and playing on this thing that we see on the democratic side of the primaries that there is this worry or fear that the wealthy have gone too much, and they want to take some back. neil: it can get very creative coming back for ways to get more money. no one really looks our spending the money. they're not created in that regard. >> always find a way to si get r money but never cutting the budget down. but we see a lot of the states as a tax rates go up, a lot of people flee, we see in new york city and new york state people at the top part of the tax bracket and up leaving in a lot

of the states as they raise the taxes forget it's very easy for these people. neil: it's happening now. >> absolutely. states like florida where you have 0 income tax, i think we will see a lot more flight out of the high-tech states. >> this is my last show in new york by the way. [laughter] neil: this is something that the president has talked about when it comes to the high tax state that maybe the tax cut a couple years ago, that would force them because they live with deductions for mortgage interest or taxes that they would rain in a little bit. they are actually piling on. >> that also assumes that states are going to have some level of accountability. there is no accountability for states, there's barely any existing bankruptcy states because we have never even confronted the thought that people would be so with other people's money and baker up the entire state. and this is what we are dealing with right now with democrats, they constantly try to make themselves happy about bringing pain to other people.

this type of politics of the punitive. neil: the ones that don't have to pay the taxes love the idea. >> that's a lot of people. neil: i'm wondering is very popular for him to propose that. >> he's not even saying i need this to pay for a major tax break for the middle class. how do you lift the middle class on one hand but did not provide that window the relief he says they are deserving of. that's the issue, if you want to continue to take more and more and more and at some point it doesn't meet it. >> these are attacks the people that make a million dollars, a tiny fraction of folks making a million dollars in revenue, most people who make millions of dollars make with. neil: he calculated ~ raised a half a billion dollars. >> taxes on the wealthy.

>> black people, because you end up having a lot of minorities who are making that level of income and a lot into being revenue base. the unintended consequences when democrats are engaged in these policies they inadvertently hurt the very ones that they say they won't. neil: 40%, 51%, and calculating 11% pretty soon you're lucky enough. >> they have their studies are talking about, the disproportionate amount of african-americans making higher level of cash in revenue compared to the commanders. neil: do you live in new jersey. >> noid don't think god. neil: i do. we have more after the spring the dow is down 94 points. stay with us after this.

neil: we are down again about 140 points on they're down jones industrial. i try not to overdo allies thing 100 plus points swing within seconds, algorithm have a play in that. you punch in a couple of words like coronavirus, more cases, you know the drill. we have pakistan added more cases in iraq and iran in italy and south korea were the cases are exploded. 169 new cases reported just over the last 24 hours. that brings the total number of those infected to better than 1100. and a week ago it was at a couple of dozen. that's the stuff that rattles markets as it does in italy and europe where you have 30 plus countries dealing with this. last week at this time 21 countries. you know that particular drill, people hear it in stocks get drilled. even though the backdrop is axley pretty good. in this country in particular withholding, ashley webster has

a good story you might not be hearing but you should be aware of it. reporter: when times of uncertainty money tends to go to safe haven, one is u.s. treasury, government bonds, they are safe but my not paying much in interest but a safe haven. we have seen that pre-take a look at the u.s. mortgage rates as a separate 20th, 30 year fixed rate .49%. that is near an eight year low, why is this, mortgage rates track the ten year treasury yield. you can see one line is that freddie. >> 30 year fixed and the other mark is the bencher. they move in tandem, as money goes into the ten year treasury, the rates go down in the price of the bonds go higher and opposite direction. and we see mortgage rates going lower and lower. by the way the latest piece of housing news was encouraging, new home sales, not as big as the existing home sales, very

encouraging, up 7.9% in january, that by the way reaching 12.5 year high. what we have is cheaper week cost, and don't forget consumer confidence at about 815 and a half your height. there is demand out there, the only fly in the ointment, for those people who want to get a mortgage and say now is the time to jump in because the rates are so low, there is not a lot of inventory out there, it's still a problem with the lack of homes, they say sellers market. were getting reports across the country and just talking to a realtor in long island he said every home that comes up turned into a bidding war. the seller gets more than they put them house on the market for. good for the seller but not so good for the buyer. i'll tell you who else, those people who say these rates are so low i have got to do rate financing. by mid-february, the number of refinancing applications was up year-over-year, 165%. in all of this uncertainty we

see the dow going up and down because the safe money is going into treasuries, there are people out there, homeowners getting a cheaper mortgage which by the way frees up more money for other things which can also help the economy but also perhaps helping those getting into the housing market especially millennial's. the only problem again we need more homes on the market in order for them to buy. neil: they are not there. thank you very, very much. we follow the interest-rate right here, record load of the tenure and 30 year, record lows and mortgage rates, generally a couple with a lower gas prices, oil prices, that is like a boom to those who are worried about their spending, they have a little bit more cash flow there. the flipside of that, they look to stocks, they might be more inclined to stocks because the return is so good you could do better with dividends -- the

market is the draw, not today but the tonic that we usually see from lower interest rates, so far not materializing. a lot of the same investors are saying i'm happy and saving on gas, saving on the mortgage but i'm not happy about the market. we will have more after this. ♪ e's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room.

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virus has dictated the direction of this market. >> you are absolutely right, everything else, nothing else mattered right now although at some point you probably will to your point, there is a headline that came out, 83 people not county new york the monitor for exposure to coronavirus. that was a 1010 when headline and that's right around the point where we went negative in the dow was off more than 100 points, obviously extreme the volatile, we kind of saw some of this because this is not like human beings react into these headlines quickly like that. but the wildness of the swings, i think maybe from the low point of the morning before we open to the high today, maybe 1000-point, it's a real whipsaw. let me ask a dumb question. we had the 2000-point drop over the last couple of days, up over 400 points for a while within the first half-hour of trading, if we end up down today or at a

very weak game today, that will bomb a lot of people out. i don't mean to sound -- but they attempt to crawl back, that has got to have some psychological impact. >> it does have a psychological and impact, a lot of people don't want to take debate, a lot of professional, yesterday the dow was up 200 points up the gate, today -- i think there's a sense if it's going to be flushed outflow should all operate including those folks after today, i gave it a shot, i held on and i'm out. there is a big pool of money on the sidelines and we will let all of that play out and it can be painful to the individual investor who cannot take it anymore but is exactly what some people who are chomping at the bit to buy want to see. neil: see you in just a few minutes. thank you very much. james subjeclet me ask my panele

interest-rate thing. your ship has come in, buying a home, refinancing the one you're in, do take advantage, do see people saying, i don't care who's getting the credit i wanted. >> i think what matters to most people is their own pocketbook. i don't think they're worried about who is behind the push. i think they want in allen. they want to jump on the ship absolutely. neil: what do you think a lot of people think a missed my turn on a cheap mortgage. but it's back. >> a lot of investors are taking advantage. a lot of them have been climbing steadily over the past five, six, 70 years. that is really chomping at the bit right now because as we just talked about on the show, the prices have been going up in these rates been coming down.

homeowners want a seller market is doing very well, people that want to refinance our taken advantage. i checked at the rates on student loans, it really was not there for me. maybe some folks will do that. here's the thing, regular folks are sitting on the sideline wondering what they should do. in investors who have money to burn looking at real estate market, they are taken advantage. whether good or bad i think it's up for debate but certainly that is what is happening. neil: i wonder, a lot of people have petty gains in this market your weird double digit increases in some of the stocks that had double and triple. you know the drill. i'm wondering if this is the memes, i will lock in some profits, how long do you do that. >> when you talk about some of the hard assets, what we really see is people finding ways to get money out of the market, notion even if values go down a little bit somehow this is more secure than being in a volatile

market, god for bid all of a sudden, heaven for bid that we end up bernie sanders as the nominee president of the united states. neil: those of b -- we talked about those early today. i think to your point, people are trying to capitalize on these opportunities in the don't think the treasury is reporting a lot of democrats nearly back to tax break from the president even though they might dislike his policies, at the end of the day policies work for all people even if you don't like the president. neil: you talk to a lot of readers and people to follow you, do they look at something like this and say this is the reason i am not in the market because it has days like this and something like this they say to hell with that. >> i think there is a lot of fear and intimidation especially among younger people investing in the market. i think if they do see the opportunity to jump in on that like we see now potentially,

they will take it but cautiously. very cautiously proved we talk about. neil: they don't believe anything that joe says. >> millennial's don't listen. [laughter] >> shots fired. neil: out of the blue. [laughter] >> this is investor psychology, too many people buy at the top until the bottom. you want to do the opposite. neil: let me write that down. [laughter] buy low, sell high. neil: we have oil prices falling, that the other benefit, not necessarily for the oil company but for you, cheaper gas. does that provide a floor? we will see after this. ♪ gy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila!

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neil: we're getting a little bit more of an update on long island, new york, coronavirus possible cases. nassau county announcing they're

monitoring 83 people who may have had exposure to the virus and test results for one particular resident are pending. markets heard that a few minutes ago. this is a local news report that couple out. sold off on that. continue selling off. not exclusively on that. man, oh, man, charles payne, it is all about the virus, isn't it? charles: it is all about the virus and everyone is on interhooks. thanks very much, neil. i'm charles payne. this is making monday nip. major market rebound effort i should say evaporated. adding to two days of sharp drops and adding to worst-case scenario from the coronavirus. i will tell you where from history we can go from here. there is a ton of good news you haven't heard. we'll tell you that as well. democrats work overtime to politicize the crisis and what should president trump say to the american people? hopefully he will do a better job than the democra