to gary's point, monday's low also held. monday's low, friday's low, i'm with gary 1,000%, keep those on your screen. thank you both very much. of course, you can catch gary tonight on "bulls & bears" at 5:00 p.m. right here. dow jones industrial average up 857 points, ashley. it's all you. ashley: i will hold on to it. thank you very much, charles payne. great stuff. well, they are calling it the biden bounce. markets rallying after former vice president joe biden had a strong super tuesday showing, winning 9 of the 14 states in play, and yes, health care stocks driving markets higher. the dow up 868 points, the s&p up more than 3%, the nasdaq up 2.5%. the markets move as the last billionaire standing bows out. mike bloomberg about to make a statement about his candidacy for president at any moment in new york city's times square. we will take you there live as soon as it begins. all of this comes as the

coronavirus death toll has now hit 11 in america. the latest in california. the president and vice president meeting with the ceos of airlines and diagnostic labs at the white house today, as the search for a vaccine goes on. one of the stars of netflix's docuseries "pandemic" is here. jacob glanville, founder and ceo of distributed bio will break things down in a fox business exclusive. less than an hour to the closing bell. i'm ashley webster in for liz claman. let's start "the claman countdown." ashley: we begin with breaking news. united airlines says it is cutting domestic and international flights by up to 20% in april, all in response to the slump in travel demand caused by the spreading coronavirus.

the carrier also parking some wide body jets, also offering staff an unpaid leave of absence. united, the first u.s. carrier to actually cut domestic flying. check in on the stock, down a third of a percent. $58 a share. billionaire mike bloomberg set to make a statement after suspending his presidential bid. he's walking to the podium now. he had a pretty dismal performance on super tuesday. let's listen in. ♪ >> well, hello, bloomberg 2020.

you know, i decided we had the slogan wrong. it should be mike likes you. thank you. thank you, everyone. not sure what to say other than thank you to everybody here who tried to make a difference, and mayor nutter, mike, you really have been amazing. where are you hiding? hiding in plain sight. these past few months have been some of the most inspiring certainly in my life and i hope in yours. 'just 100 days, i have been to 73 cities in 27 states all across the country. we've gone from portland, maine all the way to compton, california, from detroit, michigan down to jackson, mississippi, and every place i went, i listened to americans of

every age and every race and every ethnicity and every religion, and every identity and orientation, and i heard about their hopes and their dreams and their fears and their struggles, and those conversations just affirm my faith in the work that our team was doing to defeat donald trump and -- [ applause ] -- and bring our country back together and get things done for the american people. [ cheers and applause ] now today, i want to say how grateful i am to everyone who has been part of our team, and i want to thank you all from the bottom of my heart for your support, your work and your votes. and i'm just telling you, the american public should be saying thank you to you as well. you really made history, you

really did. yes, it's true. no campaign has ever accomplished as much as you did in such a short period of time. if you go back, we started at 1% in the polls, but yesterday, thanks to you, nearly two million americans cast their votes for our campaign. this really is the best, most creative, most hard-working campaign team ever assembled, and i have to say there is no doubt in my mind we would have beaten donald trump in november. [ cheers and applause ] and you know who else knows that? donald trump. he's been scared stiff of us and for good reason, because every time he hit us, we hit back twice as hard.

and unlike his jabs, our punches packed the truth. now, look, today i am clear-eyed about our overriding objective and that is victory in november. not victory for me or our campaign, but victory for our country. if you remember, i entered the race for president to defeat donald trump, and today, i am leaving the race for the same reason, to defeat donald trump because staying in would make it more difficult to achieve that goal. i've always believed the data should inform our decisions. that's the way i ran my business and foundation, it's the way we ran city hall. in fact, our campaign slogan was in god we trust, everyone else bring data. well, after yesterday's results,

the delegate math had become virtually impossible, and a viable path to the nomination just no longer existed, and i will not be our party's nominee. but i will not walk away from the most important political fight of my life, and i hope you won't walk away either. [ cheers and applause ] i've always believed that defeating donald trump starts with uniting behind the candidate with the best shot to do it, and after yesterday's vote, it's clear that candidate us is my friend and a great american, joe biden. i've known joe for a very long time. i know his decency, his honesty, his commitment to the issues that are so important to our country. stuart: there you ha ashley: there you have it, mike bloomberg speaking to a crowd in new york city, bowing out of the race, saying it was inspiring for him but at the same time,

realizing the math just wasn't there for him to find a viable way to the nomination. he said the best shot now to defeat donald trump is his good friend joe biden. basically saying i didn't want to split the number of votes, especially with bernie sanders on the other side. let's bring in charlie gasparino. he joins us from the newsroom with more on what mr. bloomberg plans to do next. after last night, super tuesday, the writing was on the wall. he he had to get out. charlie: i thought the writing was on the wall before that, to be honest with you. so did the biden people. this is a conversation we had last night. it was -- if you looked at the numbers coming out of texas, even before biden won texas, it was very close. if you look at the numbers in california, it's still pretty close even though bernie sanders won that. and what the biden people were going to say come today, not just the biden people, the establishment democrats and i'm telling you, it would be hillary

clinton, probably barack obama as well, that mr. bloomberg, you are going to be in this race purely as a spoiler. you cannot win, you are going to deny joe biden the win, you are going to nominate from the democrats a socialist, you will re-elect donald trump. that would have been, if they didn't say that to him, they were going to say that to him, and that's why i actually said it last night. i see no reason for him, he's not going to stay in the race. that's what happened. now, here's the $64,000 question, or maybe the $2 billion question, because as you know, mr. bloomberg has pledged to spend about $2 billion on his campaign and maybe for somebody else to win, anything to beat donald trump. what we do know is that the bloomberg campaign, according to people inside the campaign, we have been speaking with them, is undergoing a transition right now. it's undergoing a transition to

one that obviously has been set up -- by the way, they are in like 45, 48 states. they are in just about every state. that apparatus is being transitioned to one that was designed initially to elect mike bloomberg as the nominee and president to one that will help biden, joe biden, become the nominee and ultimately president. there is going to be a transition going on here. now, here's what we don't know, is how much of his wealth is he going to spend on that effort. again, he was willing to spend about $2 billion on electing himself. does he spend that $2 billion in some way, you know, to get out the vote, through giving money, i mean, i don't think he can write a check for $2 billion but i'm sure he can start a super pac or give money to a super pac. the money is fungible. he can get it there. it will be interesting to see what he does with that. if joe biden does have bloomberg money going into this, it will be pretty interesting because it will pit donald trump, who is

going to raise anywhere from $1 billion to $1.5 billion which is a lot of money, remember, he didn't raise a lot the last time, he didn't care and he still won. he will have money this time. against somebody like joe biden, who can -- who is going to raise money plus have bloomberg's money. i just want to show you this "new york post" cover. this was -- my friend cole allen is there now. i have known him forever. he was the old editor, now a consultant. he was a master at this front page stuff. i can't imagine de not come up with this. this is not bloomberg they are talking about here. they are talking about biden. listen, i have to mea culpa myself. i know you are saying wrap but let me finish what i'm saying, please. i hate when you do that. ashley: i didn't say it. charlie: we all have joe biden dead a couple weeks ago. we didn't think he had much stamina left in him. we were mesmerized by the

billions. well, money can't buy you the democratic nomination. i think money can buy you happiness, because you get a lot of wealth, plus it can buy you health. rich people live long. can't buy you the democratic nomination. that's one thing we learned here. you got to kind of bring some game and for all joe biden's negatives, his gaffes, last night he called his sister his wife, i don't know if you saw that -- ashley: you know what's amazing to me, what a 48 hours joe biden has had, getting the endorsements of mayor pete, amy klobuchar, mike bloomberg drops out and puts his support and money, we assume, at least some of it, to joe biden and to your point, my goodness, he must be smiling from here to wherever. very quickly, bloomberg's comment that donald trump was scared stiff of us, i don't buy that one bit. charlie: you know, one thing about bloomberg unlike jeb bush and all the other ones, remember during the 2016 campaign, they

didn't get in the mud with donald. bloomberg kind of did. he was showing pictures of his weight gain and all this stuff. he mocked him more than i have seen in the past and i'm pretty sure, and donald would mock him over his height, obviously, so you know, this could be pretty muddy, pretty dirty. it's going to be interesting. by the way, donald trump is an amazing politician. he won the last time without a lot of money. he's going to have it now. ashley: he is. all right. fascinating stuff, as always. charlie gasparino, thank you so much. appreciate it. the biden bounce, by the way, helping the health insurers. united health care on pace for its best day in more than a decade, up 10%. it is a super wednesday for the insurers after joe biden's performance reduces the chances of a candidate that supports medicare for all. that's why we are seeing the health care bounce, which of course would largely eliminate the industry. take a look at cigna, humana,

anthem, all up big-time. anthem up 14.75%. meantime, lyft surging after the company's cfo says the company has not seen an impact from the coronavirus and jpmorgan says lyft saw record high rides and revenues last week. all very positive. lyft up 8%. campbell's soup hitting an annual high after it raised its fiscal full year earnings forecast and said guess what, people are stocking up on its canned products in response to coronavirus quarantine fears. that stock also up 8%. but retailers taking a hit today. nordstrom, dollar tree and urban outfitters all lower after earnings misses and weak outlooks. take a look at that board, all in the red. urban outfitters down 9%. abercrombie & fitch, by the way, bucking the trend after remodeled smaller stores actually helped the apparel retailer beat holiday sales expectations. big moves today, up 9%. let's get to the floor show.

to the floor show we go. teddy weisberg at the nyse, luke rubari at the nymex. is a big part of today's rally, they are calling it the biden bounce but maybe it's the no bernie relief rally. either way, is it politics? >> i think the no bernie relief rally probably has more traction. but you know, we saw on friday, we had retail customers that basically were saying keep the cheese, let us out of the trap, they just wanted to sell everything. we have seen this before over 50 some odd years, when you get to these emotional points in down markets. usually if it's not the bottom, it usually indicates we are near the bottom. i think yesterday, what the fed did even though the market reacted negatively by the end of the day, that 50 basis point cut in interest rates, that is absolutely candy for equity markets. so perhaps it's a little

afterglow from yesterday's fed move. certainly don't have to worry about bernie at least for the moment. but the bottom line is we had a market that was severely oversold, needed an excuse to go higher and clearly we got one. ashley: let me bring in luke. luke, what did you make of the fed's actions yesterday and i guess on an even bigger scale, can the global central banks save the economy? is that the way to go? >> no, i don't think they can save the economy. i don't think the fed needed to cut. they just have to act like they are going to step in if things go much worse, right? they came in and everybody sold the news. that's what happened. i think they have been wrong by the way for eight years. eight years of just continually lowering rates, pulling gains forward. i mean, it's ridiculous to me. i remember a time when allen greenspan, people used to analyze how he held his briefcase, right hand, left hand, it's fwoeg to going to be

points. give us a little mystery. coming out and cutting rates, you have crushed the middle class, savings rates, you are pushing people into more risk assets and you see what happens. what are they going to do if this thing gets a little worse or something else to go to min on rates or something? i don't understand why they had to cut and again, another thing, there's never been an administration who hasn't said interest rates are too high. ever. so the fed has to be independent and do what their mandate is which is get people employed and be fair in how they treat capital and it hasn't been fair. it's been eight years of wealth transfer. it's bad for the middle class and the lower class and overall it's been bad for the country. ashley: we live in an artificial world, as they say. luke, thank you so much. sorry it was so brief. teddy, as always, great to see you. appreciate your input. thank you. let's move on here. fox business alert. congress reaching a deal on a

multi-billion dollar spending package to combat the coronavirus. a vote could come as early as tonight. of course, all of this as the white house holds a series of meetings with airlines and diagnostic lab ceos. vice president pence hosting the session but president trump popping in and discussing a whole number of issues. blake burman was there and joins us now live at the white house with all the details. blake? reporter: there were a series of meetings with ceos involving the coronavirus over here at the white house today. you mentioned the ceos from the diagnostic labs in the afternoon, it started off this morning with ceos from providers who treat the sick, then sandwiched in the middle of all of that was a meeting with ceos from the airline industry. that was the meeting at the tail end of which president trump took part in. it was kind of a who's who of ceos from within the airline world, as the leaders of american airlines, southwest airlines, united airlines, jetblue and others were there. they said in that meeting that they have been trying to make sure that they are upping the

sanitary standards on their aircraft. of course that leads to the question that so many are asking right now, is it safe to fly. that was the question that was put before president trump. watch here. >> i think where these people are flying, it's safe to fly. large portions of the world, are very safe to fly. we don't want to say anything other than that. we have closed down certain sections of the world frankly and they have sort of automatically closed them also. they understand that and they understand it better perhaps than anybody. yes, it's safe. reporter: now, at that meeting as well, i asked president trump what he makes of the market rebound that we have seen today at the corner of wall and broad, whether or not he believes this is just a reaction, sigh of relief from traders as they now see that it is joe biden, not bernie sanders, who is at the top of the delegate count on the democratic side. the president used the moment to hit the new frontrunner.

>> i've said from the beginning, it's partially this, it's a big part this but it's also the fact they didn't like seeing what they're seeing but they don't like joe either. joe's become, you know, a lot of people are with joe, if you look at those people, they're worse than bernie in terms of being radical left. reporter: back to the coronavirus, you're right, the leaders up on capitol hill today announced they have signed off on a spending package for the coronavirus. some leaders have put it at $8.3 billion, others at $7.7, 7.8. still trying to pin down the exact number but you get the idea, somewhere in the high 7, low 8 range. that's more than triple the amount the white house had asked for, $2.5 billion, ten days ago. ashley: president trump said i asked for two, they gave me eight. reporter: one of those scenarios where he's not going to say don't give me the money. give me the money.

ashley: blake burman, thanks very much. appreciate it. by the way, you can hear more about vice president mike pence's plans as he leads the nation's response to the coronavirus at 7:00 p.m. eastern on "lou dobbs tonight". let's take a check of the big board. the dow up 917 points. what a rally. the dow at 26,835. meantime, beyond meat getting a vote of confidence from august research who initiated shares of the fake meat maker at a buy with a $130 price target. right now it's at 100 bucks, up 5.75% in today's session. well, if you can't beat 'em, join 'em. billionaire mike bloomberg putting his money and support behind joe biden but is it enough to fend off socialist rival bernie sanders? coming up next, democratic fundraiser robert wolf tells us who really holds the key to the nomination. stay with us. i like liberty mutual.

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ashley: i want to bring your attention to the markets right now. the dow, 975 points gain. it was up to 980 just a second ago. can we hit the 1,000 point mark before we close in about 34 minutes from now, but these are the highs of the session. the s&p also up 3.5%. the nasdaq also up 3%. strong day of gains for the markets. no doubt. now, no more billionaires left in the race. super tuesday turned into washed out wednesday for mike bloomberg as he officially drops out. joe biden is now emerging as the clear frontrunner in the democrat presidential race. fox news contributor robert wolf and the former ceo and chairman of ubs america joins us now in a fox business exclusive. robert, you've got to be smiling today. you are a joe biden fan. we were just saying what a last 48 hours, 72 hours, whatever you want, joe biden has had.

he's gone from appearing to fade a little bit, struggling, to getting the endorsements of mayor pete, amy klobuchar, now mike bloomberg. having a great super tuesday. things turn quickly in politics. we know a day is a long time in politics. >> yeah. it's been a great four days, ever since clyburn endorsed him, then he went into south carolina, he won by north of 30 points, literally most people were thinking ten points. then he came in with incredible momentum and then you had mayor pete and beto and amy klobuchar and all of a sudden it was off to the races. i think one of the most important things is bernie also did not have a good week, starting with the "60 minutes" interview where there was a lot of talk about castro and cuba and all these different things. so i think that this is what the biden campaign expected. they always said right from the beginning they do well in nevada and then south carolina would be their firewall and that's what took place. ashley: you are saying he's the

great unifier. there has been a lot of talk about the split within the democrat party between the far left and the safer pair of hands, if you like, in joe biden who is morepalatable to a wider range of voters. is this a sign to bernie sanders he's going to be in a little trouble here? >> my view is biden is the frontrunner and will likely be the nominee. if i was betting, i would bet he would be the nominee. the reason i say that, he won everywhere last night. he won from texas to the deep south to the midwest to the northeast. the idea that he won in minnesota and massachusetts and texas and he swept the south was really unbelievable, considering that a lot of where he didn't do well was early voting. secondly, i think the silent majority, you and i have talked about it, has been the moderate si side, where about 60% to 65% of the party, we showed that in the midterms when we flipped 41 seats from red to blue and we have won two of the last three governorships in red states.

ashley: that said, what does elizabeth warren do? we heard from her campaign, they were kind of reassessing where they stand. what do you think she will do? what should she do, in your opinion? >> i mean, i think obviously it's totally up to her. there's three different ways she can take the path. she can stay in and be maybe what kasich was in 2016. she could decide she wants to endorse someone. or she could decide not to endorse someone. who knows. listen, she is one of the leaders in the party. she was running a great campaign. she had a tough october/november period and really never caught what i would say wind at her back after that. you know, her name will be up for vice president and who knows, if there's a contested convention, we haven't seen it since 1950, my guess is crazy things would happen. ashley: you never know. what about joe biden? lots has been talked about his gaffes. he's always been gaffe-prone but

many people are. they say something they don't mean. but he in particular has a lot of attention on some of the things he gets wrong. is he up for the fight because going up against donald trump, if he in fact is the nominee, is not going to be easy. >> yeah. i see it a little differently. he came out in an incredibly sincere way -- ashley: i should mention very quickly we are now at 1,006 points. 1,014 points. just to change subjects real quickly, is this the market saying we certainly would prefer joe biden over bernie sanders? >> you know, i would like to say it's because of joe biden but i don't think you can really say that. i think what's happened us the market went down 4,000, 5,000, was probably oversold, the fed came in. there's a lot of things, the volatility. ashley: let me get back to the original question. is joe biden up for this? he looks a bit frail at times. i hate to use that word but he

does. >> you know, i would say as everyone knows now, he has a stutter so maybe he has said that there are words he doesn't like to use or maybe he -- number two, when you are on 24/7 you will have gaffes. the president has gaffes. joe biden has gaffes. maybe ashley has gaffes. the third i would say, this is a democratic line so i apologize to the viewers, we would rather have gaffes than lies. i know i will get hit but that will be a line we will use continually. ashley: very interesting. i mean, you know -- >> sorry. you gave me a softball. ashley: i don't agree but we will leave it there. >> i'm sure i am going to be trolled for it. ashley: that's all right. that's the world we live in. thank you so much. >> thanks for having me on. ashley: let's get to kristina partsinevelos on the floor of the new york stock exchange for today's business. kristina: mattel shares jumping for joy after the toy maker was

boosted to overweight, crediting the barbie and hot wheels parent for its focus on playing offense to score revenue growth. chipotle shares heating up on a bullish call from wells fargo, the big bank raising its rating on the fast casual mexican chain to overweight saying its 2020 drive-through push will help deliver returns and boost the burrito giant back to all-time high levels. amazon shares holding strong this hour despite confirmation that one of its employees in seattle has been diagnosed with the coronavirus. the employee, one of the nearly 55,000 employees working at its home base over there. up next, as the coronavirus outbreak grows, we have the company working double time to wipe out not only the deadly pathogen but the influenza virus as well. "the claman countdown" is coming right back.

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options and rates to fit your needs oh, and happy birthday... or retirement... in advance. we're making a vaccine that could treat all future versions of flu. >> this vaccine could eradicate influenza as we know it. ashley: that was a clip from the netflix series "pandemic, how to prevent an outbreak" highlighting the people on the front lines of the battle against influenza and their efforts to stop the next global outbreak. that of course includes the coronavirus. our next guest was one of the scientists featured in that clip. he and his team racing to bioengineer antibodies to stop the spread of the coronavirus. here in a fox business exclusive, distributive biofounding partner and ceo

jac jacobglanville. thank you for joining us. should the coronavirus be classified as a pandemic already? >> so it's reached over 60 countries, by that measure it is affecting the entire world. i think the world health organization, the cdc and other groups are still comparing it to the degree of damage that influenza causes and because it has not yet reached that level, they are still resistant to calling it a pandemic. ashley: how far away, we are told that look, human trials could actually begin as early as next month but it wouldn't be until the end of the year, next year before we could actually get a vaccine treatment for this virus. is that your opinion as well? >> so there's a couple types of medicine. there's antivirals that are being tested now and we will get the results next month. if we're lucky some of those will work. the vaccines will take longer. they are untested and we need to make sure they are safe and able to protect individuals.

there are ways to accelerate things, potentially faster than the 18 months i have heard quoted, but it takes time to run human trials. that's why my group is focusing on making amonoclonalantibody that has the advantage of being able to be given to someone who is sick and help them immediately whereas if a vaccine works, it takes multiple boosts and could take up to six weeks before it's protective. ashley: one of the issues has been the amount of testing done, relatively low here in the united states, and maybe that's the reason the fatality rate is seen as being high, because there are a lot more cases out there we don't know about, therefore it kind of skews the numbers a little bit. how dangerous is this coronavirus? >> yeah. so we had an issue with early kits being released in the united states that resulted in almost no testing being conducted. over the next month, that's going to be corrected but right now, we just don't know how much outbreak has already taken place in the united states. ashley: is it the elderly that are particularly, that's what we

are being told, particularly vulnerable and especially those with underlying health conditions that just compounds the problem? >> that's right. so this coronavirus is a little bit unique in that folks that are young are relatively protected so there's been almost no deaths for anyone under 18, but conversely, if you are over 60, you are at elevated risk and the folks that are over 80 years old are particularly susceptible. they could have 15% mortality. for that reason, i'm particularly concerned about retirement homes and nursing homes where you have large numbers of elderly people in a concentrated area, as we have seen up in washington. ashley: exactly. is it easily passed on? we had a case here in new york where a gentleman became sick with the coronavirus, his neighbor drove him to the hospital and the neighbor has just tested positive for the coronavirus. is it easily spread? >> yeah, so there's a couple unique problems with this coronavirus that's made it difficult to contain. it spreads more easily than

influenza. there's a number we scientists track which tells you how many new people get infected and this one has a pretty high number. the other thing that's unusual about this virus, you can be infected with it for maybe two weeks without showing symptoms and you can infect others. it's like a trojan horse where it's difficult to control borders, where people that are seemingly healthy are traveling across nations and states and in contact with many other individuals. ashley: very quickly, how long will it be, do you think, before we come out on the other side of this? when do we look towards the peak? >> so right now, the most important thing is for us to have surveillance in the united states to assess the degree of the problem. the chinese did the world a service by applying very strong measures to try to contain their outbreak and they succeeded but the outbreak is now affecting many other nations and right now, we just don't know the degree to which we are having an outbreak here in the united states. if i were to guess, i would estimate continued growth of an outbreak across europe, multiple asian countries and it's

beginning to outbreak in africa and the united states, we just don't know at this point how bad the problem is. so the first step is we need to find how bad the problem is so we can start applying measures to suppress further outbreak. ashley: we have to leave it there. thanks for your expertise, dr. jacob glanville. thank you. let's take a look at the big board. we continue to move through the highs. we are just off the session highs right now, the dow up 1,057 points, hovering close to 27,000 on the dow. coming up next, why shares of jack daniels' parent aren't tasting as smooth as tennessee whiskey this hour. we will get into that. "the claman countdown" will be right back.

ashley: investors in jack daniels' parent, brown-forman, drowning their sorrows, apparently. shares in the red after european sales of whiskey faltered due to the u.s. slapping new 25% tariffs on the imported liquors in the eu. that doesn't help at all. plus of course, new threats due to the coronavirus forcing the spirits maker to cut its full year guidance. that stock down modestly, down 1% in a very big rally day. all right. connell mcshane joins us now. connell, even tennessee whiskey apparently sus accept i beliece coronavirus. connell: not a sad day for stocks, though. we will have it at the top of the hour. we are up and down and today we are up almost 1,000 points. we will see how we close out. we are putting politics together with the markets, particularly today. mike huckabee, former governor of course of arkansas happens to be on with us. lot of people comparing this biden surge everybody is talking

about to some other surges or comebacks that we saw in the past. when huckabee ran in 2008, for example, remember john mccain, he was the frontrunner, then he wasn't, then he was. we will get his perspective on the history in the politics and what he thinks of the biden surge this time around. up 1,000 again. ashley: always a great guest, too. always has a great turn of phrase. connell mcshane, see you in 12 minutes. how about that. thanks. from the campaign trail to the trail of companies canceling events due to the coronavirus fears. the latest, mgm universal and producer pushing back the release of the latest james bond film "no time to die" initially set to open next month. fans will now have to wait until november 25th. but chrysler defying fears as it showcased a car in milan today. the unveil was initially planned

for the now canceled geneva motor show with schools, universities and museums being forced to close, it is discouraged to hold large gatherings of this nature in italy but fiat chrysler going ahead and their stock up about 3%. want to bring the traders back in, if we can, as the market is hovering right around a gain of 1,000 points. phil flynn, teddy weisberg. teddy, how hard is it to know what's going to happen day to day in this environment? >> well, it's an easy game, you know that. listen, you can't help but think that as serious as this virus is, that perhaps the public has been kind of twisted into a fren frenzy, both the public and industry, you know, over the effects. none of us really know what's warranted or not warranted and there's obviously two sides of the story of how we should

react, but clearly, it's had a big negative impact on the markets for the last week or so. but perhaps, just perhaps the severity of it is still there, but perhaps the markets are starting to price it in. only time will tell, unfortunately, with the benefit of 2020 hindsight, we are not going to know if in fact we have seen the bottom. but for the moment, it sure feels that way. ashley: good point. phil, what do you think to teddy's point, have we kind of seen, i mean, as we speak we are up 1,056 on the dow. can we expect this kind of volatility in the short term? >> i think we will see volatility but i think teddy is absolutely right. i think the market has a tendency to price in worst case scenarios and i think yesterday, after the fed surprised the market with a 50 basis point cut, that we really knew was going to come, froze people out temporarily but when you think of the impact of the 50 basis

point rate cut from the fed, you know, as an investor, you can't ignore that. you can't just say it's not going to work, because historically, when the fed tells you they have their back, it almost always does. i always hear arguments, i remember after the first quantitative easing, everyone was like oh, that's not going to work, well sure enough, asset classes went up. it won't solve the virus but i think it will give us a good chance, at least get some stability and maybe a good recovery on the stock price. ashley: all right. have to leave it there, gentlemen. teddy, thank you so much. phil flynn at the cme. as phil was speaking, hit another all-time high, above 1100. there we are, at session highs or very close to it. the covid-19 fear factor moving to the background as you can see. the dow up 1100 points right now as we head into the final minutes of trade. do we gain more ground? we will find out. but despite today's multiple leg up, our "countdown" closer says this horror film, far from over.

he says up next, the places you can still hide your money in a very volatile market. we'll be right back. what i love most about being a scientist at 3m is that i'm part of a community of problem solvers. we make ideas grow. from an everyday solution... to one that can take on a bigger challenge. from packaging tape... to tape that can bond materials to buildings... and planes. one idea can unlock a breadth of solutions. at 3m, we are solving problems that improve lives.

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♪. ashley: closing bell rings in five minutes time. we're on history watch. the dow had largest gain ever of 1200 points. we're not quite there. it is not on the screen. i will give it to you. it is up 1152 right now. the question can we get to the record level? maybe not. still an incredible day. we have this breaking news now. hasbro is warning that the coronavirus outbreak has disrupted production in china of its planned baby yoda toys. so there you have it. if you you were looking forward to one of those, you may have to wait a lit longer. tech titans all in the green

amid the top market rally. a name in stream something making waves. let's get down to kristina partsinevelos live on the floor of the new york stock exchange. to tell us what stock we're talking about. kristina? kristina: we're talking about netflix. people talk about all the stocks where they will benefit if people stay home. one analyst, david miller. put out a note from imperial capital saying netflix is going to benefit from cocooning. first i heard it used like that, cocooning. the shares are up almost 4% higher. he is positive there will be increase in subscribers. however he did lower his price target to $438 a share. look at netflix now? $383. there is definitely room to grow. he is saying keep netflix. in every single country on the globe except for north korea, iran and china. he believes subscribers will continue to grow. do you, ashley, use netflix? ashley: i do, oh, my gosh yes.

kristina: disney plus, hbo. ashley: yes to all of the above. these are trap the at home stocks, cocooning. kristina: peloton, that is what you do while you're watching? ashley: i don't do peloton. thank you kristina, pointing out i don't exercise. look at those moves. pershing square capital management hedge fund manager bill ackman taking efforts at his firm. efforts to contain the virus will likely have substantial impact not just on the u.s. but the global economy. the "countdown" closer says this fear on markets, retirement plan of america ken moray. ken, should we be that scared? look at market. up 1140 points, it is volatile. should we be that concerned?

>> i mean ho-hum, another 1000-point move on the dow. starting to get used to this. it is not even exciting anymore. to put things into perspective if you look back at the three other viruses that came out of china, the sars virus, the swine flu, the avian flu, in those three cases we saw the s&p drop by 15%, which this one hasn't done quite from peak to trough yet. six months later if you look where the s&p stood, it risen from the bottom, six months later average of 25%. when does the bottom happen is the question because once the market perceived that the virus that there is solution underway, when the market in our view will turn. not they have resolved, they're implementing it, once there is confidence there is one, then buyers come in. the question when will that happen? as fdr once said. the thing we have to fear the most is fear itself.

ashley: right. >> the virus will not kill the economy. it is fear that keeps people home, keeps them away from showrooms buying cars, away from factories, et cetera. that is a concern. in our world we work with people retiring or retiring soon. for us growth is important but protecting principle is even more important. so for those people -- ashley: how do you do that, ken? what plays do you recommend in this environment? >> well we have a strategy we call invest and protect which we implemented for example, in november of 2007 when we told our clients to stay out for a year-and-a-half during the credit crisis. we're close to that point as we speak but we're not there yet. so we're not counseling to get out. but fur retired or retiring soon, i think it is very important to have a strategy to protect what you have because if goes down too much, you may not be able to remain retired or to retire in the first place. ashley: a good place to leave it, ken. sorry so short. big day today.

thanks for joining us. another record day on wall street. [closing bell rings] dow sees second largest point gain ever. guess what? that does for "the claman countdown." connell mcshane, pick it up now. melissa: we love to. look at that. connell: that is a rally to put it mildly. all three major averages surging into the close. whether it is the biden surge or maybe we're alternating days between big rallies and selloffs. we're going with that. whatever the case the dow up well over 1000 points second time this week. 1171. that is 4 1/2%. right around the highs at the close as well. we'll go through it all. good to be back with you in new york. i'm connell mcshane. melissa: i'm melissa francis this is "after the bell." s&p 500 and nasdaq also ending in the green, both closing up 4%. look at that. nasdaq almost 4%. s&p better than that. fox te