together. we are starting to see that happen. maria: good point. dagen? wrap us up. dagen: "tiger king" on netflix is everything. so exotic. it is so insane, you can't even describe it. everybody needs to watch it and read the memes on the internet. maria: have a great weekend, everybody. good to see you. great show. have a good one, everybody. thanks for joining us. "varney & company" begins right now. stu, take it away. stuart: "tiger king" indeed. good morning, maria. good morning, everyone. it was supposed to be a done deal by now, signed and sealed. it's not. there is a holdout. his name is thomas massey, republican congressman from kentucky. he appears to be demanding a voice vote for the stimulus package. that means house members need to rush back to washington so that they have a quorum, 216 votes required. so the all-important vote has been delayed. look, first it was speaker pelosi accused of holding things up and now it's a republican. you just got to shake your head

at this. look at the market this morning. we are going to be down today, of course that follows an enormous 20% rally in the last three days. perhaps investors are upset with the delay in the stimulus vote. perhaps there's some profit taking after the explosive rally. the dow will open this morning with a loss of around 700 points. the s&p, down about 200. the nasdaq off about 82. a decline at the opening bell. president trump, he wants to get the economy back up and running again as soon as possible. he has a plan to divide counties by risk, high, medium and low, depending on medical conditions. some of those low risk counties may be able to bring some people back to work early. today on this program, i will ask vice president pence about the president's plan. that's in our 10:00 hour this morning. the news on the virus itself, the united states has now more cases than any other country in the world, assuming you can believe the numbers coming out

of china. spain recorded 769 deaths in the last 24 hours. dramatic news again from britain. prime minister boris johnson has tested positive. that, too, may be a negative for our stock market. it shows once again no one is immune. come in, ashley webster. give me more on boris. ashley: well, first it was prince charles. now it's boris johnson. the number 10 downing street putting out a statement saying that after experiencing mild symptoms yesterday, the prime minister was tested for coronavirus on the advice of his doctor. it was carried out, by the way, that test at number 10, and it came back positive. he is self-isolating, we are told, and continuing to lead the government's response to the coronavirus. of course, what happens if he cannot continue, if he needs to take a break? then the foreign secretary

domenic robb would step in. we reported almost two weeks ago that britain's top health minister has also tested positive for the coronavirus. just goes to show you, doesn't matter who you are, you are vulnerable to this virus. stuart: got it. we will go round the world and see what's happening in various parts of the world. first to susan. president trump, china's xi jinping, did they speak recently? susan: they did last night, 10:30 p.m. eastern time, apparently delaying the phone call which was originally scheduled at 9:00 p.m. eastern time because he had to do an interview with our very own sean hannity of fox news. according to president trump they had a great conversation. there have been reports there have been strains in this relationship, the last time president xi and president trump actually discussed was in early february. since then there have been strains because each other has been blaming the u.s. and china each for starting this coronavirus and it's interesting that the phone call takes place on the day that the u.s. has now reported more cases than china

with 25,000 casualties around the world of coronavirus. lot of people were also expecting maybe trade tariffs to be suspended in this conversation. no such thing. but president trump says they had a good conversation and hopefully there's a bridging of this relationship going forward. stuart: susan, i believe that the president is now refraining from using the expression it's the chinese virus. is that accurate? susan: that's right. he made mention of this in the previous task force briefings we have seen and he says if it's insulting to the asian american community, he will stop using that phrase for now. i don't think it's a reference to maybe a closer relationship with president xi but president trump speaking to the people of america. stuart: all right, susan. let's move on to lauren. news on lululemon and china? what do you have? lauren: yeah. well, they reported their earnings last night. we don't really care about the earnings. they are old. we care about what's going on going forward. this is what lululemon said,

stock down 3% now. back open in china, sales there are improving and getting stronger week by week, but they're not where they were before the coronavirus. as for the rest of the world, lululemon, you might want to wear their yoga pants, the stay-at-home trend but all their stores in the u.s. and europe are closed until april 5th and they did say they noticed sales really slowing in the second week of march. they withdrew their guidance as many retailers have because of the coronavirus so they withdrew their guidance for the full year 2020 but can they withstand this? probably yes. they have a billion dollars in cash on hand and their e-commerce channels are very strong. stuart: thank you, lauren. i think we need to take a pause and have a look at how america feels about this ongoing virus problem. take a look at this fox news poll in regards to the virus. look at this. 89% of people are concerned we are going into an economic recession. 77% of those polled are worried

about economic hardship for their family. todd piro is with us. i characterize that poll and the feeling in the nation as high anxiety. what say you? >> 100%, stuart. when you look at that recession number, these aren't individuals analyzing fiscal policy, monetary policy like you do. this is all about consumer sentiment. they know what they can buy and they know there's a lot they can't buy. they are worried about their own pocketbooks. all this comes together and so much of a recession is that consumer sentiment. do the people feel like they can spend money. that's why you are seeing a whopping number of 89%. i don't care what the poll is about, whether today is friday, you rarely get 89% of people agreeing on anything and that's what you see right there. stuart: todd, thanks very much. we will get back to you in a second. i want to go back to ashley. are you following this news on spain? this terrible death rate. ashley: the only, i say this,

you know, the only -- as you say, the number of deaths have risen to 4,858 people, 769 in just the past 24 hours. but spanish authorities say they believe that it's reaching the peak of the outbreak. a quarter of these new cases, by the way, reported in madrid. the previous day in spain they saw 655 deaths. it's a sharp rise but based on their calculations, they think they may be very close to the peak of this and hopefully will start seeing those number of deaths and cases trail off. those are pretty sobering numbers out of spain. stuart: all right. thanks, ashley. back to lauren. news on henry shine, please. lauren: they have a test and they will have hundreds of thousands of them shipped by the end of this month. it's a rapid test administered at the point of care. all it is is a pinprick so you

don't have the uncomfortable swabs that go deep up your nose. they plan to have those by the end of the month. stock is up on this news. a blood test essentially. stuart: i believe we have jonathan hoenig with us. is that correct? are you there? he's there. okay. look, we've got a downside move for the market when the opening bell arrives this morning. i'm looking at a 700 point loss for the dow, 200 for the nasdaq. do you think we are going to go all the way back down and test those lows that we hit last week, 18,000 on the dow? you think we will test them again? >> first of all, i'm glad you and the viewers are staying safe. history suggests we will retest those lows, that we haven't seen the bottom yet. from my estimation, it is because of the stimulus. not that the stimulus is too small, actually that it's too

big. the bigger the stimulus, the longer the decline and more prolonged the decline. 1929 is a pretty good metaphor here. in 1929, there were some big rallies, the market rallied 30% plus in just a few months but then hoover started with tariffs and farm subsidies, mortgage subsidies, tax increases, and ultimately took the dow 25 years to recover. i'm not saying we are in that situation yet but with all this intervention i think we are headed down the same path. stuart: all right. what does the continuing rally depend on? i know you are saying maybe we will retest the lows, history suggests we may, but what would copy t keep the rally going? would it be a bending in the curve on these new cases? is that what would help us out to keep the rally going? >> well, there's two things obviously that are causing this tremendous uncertainty. no one living today has ever really seen markets like this before.

you have to go back to the new deal era. first and foremost, america does have to get back to work. it is that complete uncertainty, the locking down of productive society, that's a pretty reasonable explanation of why the markets are acting so chaotically. but more than anything, i think these days, when you limit the market, they become unhinged from any semblance of reality and that's because of the stimulus. when government is in there bailing out companies, buying corporate bonds, helping this company, not helping that company, it makes the markets themselves basically unusable because you don't know, is this rally for real or is it just because of the stimulus. so the sooner we can get back to getting rid of all these emergency measures to prop up the economy and the markets, the sooner the market writ large will recover. stuart: got it. thanks, jonathan. i'm going to take a moment to recap some of the stocks we have been running past on the left-hand side of the screen. i'm looking at retailers now.

down 2%, 3%, 4%. that's after a big run yesterday. overall, the market is going to be down. the dow off about 700, maybe 800 points. remember, please, we were up 1300 points yesterday, up about 20% in the last three days. so a pullback is expected. you have a lot of people who say look, we have had a nice bounce, i'm out. you will get a lot of people saying that, taking their profits. if they were lucky enough or intelligent enough to buy at the low, now we have bounced back up again, you will see people selling to take that profit. dow down 700, maybe 800. nasdaq down 200. the s&p down 85 points. go through some of the big tech stocks, if you can, please. they have had a very nice run lately. i don't see apple, this is my opinion, please understand that, my opinion, apple's at $251. i don't see it going back to test the low of $230.

microsoft is at $157. i don't see it going back to test the low of $130. google is down 38 right now but i don't see it going back to test the level, the low of $1,000. microsoft on the screen, $151. this is again, my opinion. i don't see it going back to the $130 level. we will have more for you after this. ♪ limu emu & doug [ siren ] give me your hand! i can save you... lots of money with liberty mutual! we customize your car insurance so you only pay for what you need! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ to be most successful, connectivity is vital. verizon, really for us, has been a partner for years.

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to manage your appointments making today's xfinity customer service simple, easy, awesome. i'll pass. we have plenty more to go but there are things that nobody's ever had any package like this done and i just want to thank them. hopefully it will get approved equally -- easily in the house, really. i think it will go through pretty well from what i hear.

virtually everybody. there could be one vote, one vote, one grandstander, maybe. you might have one grandstander and for that, we'll have to come back and take a little more time but it will pass. it will just take a little longer but let's see whether or not we have a grandstander. stuart: all right. the president there talking about a possible grandstander. let's get up to speed on a grandstander. i believe there is one. hillary vaughn, sort it all out for us on capitol hill, please. reporter: that grandstander, many think could be congressman thomas massey from kentucky, who is known for voting no on spending packages or at least demanding a quorum. that means at least half or a little over half of the entire house, 216 members, need to be present for a roll call vote on this. house speaker nancy pelosi wants this to sail through with a voice vote. that means you vote yea or nay, whoever is the loudest, the bill passes but someone can show up, could be congressman massey and say i want a roll call vote, i

want at least half the members present. the problem is most of the members are not here. many are at home in their districts social distancing. there are concerns about the safety of members due to some members having coronavirus and being in quarantine but yesterday, a lot of law makers made a mad dash here trying to get to that 216 number so that if massey shows up today, and rejects a voice vote, calls for a quorum, there are enough people here to vote for the package and send it to the president's desk without delay. but if they don't have the 216 they need, they have to wait until they do have 216 members here in the house in order to vote on this bill. otherwise the vote cannot happen. stuart? stuart: hillary, thank you very much. you really have to shake your head at this. but we will move on. dow industrials going to be down 700 to 800 points at the opening bell, maybe it's because of this slight possible slight delay. market watcher, i should say economist and author ed conord

joins us now. welcome back to the show. i'm intrigued about your ideas about how this virus will permanently change the way we work. tell me. spell it out. what's the big change that's coming in the way we work? >> yeah. actually, i hope big changes aren't coming because if they are, we are going to see a slow recovery. i think most people are expecting a fairly fast recovery from this. but if you look at work, long before we get to practices at work i think we will see changes, people going to restaurants and other leisure. that employs around 30 million people in our economy. if that's down significantly, we have to find new ways to a -- that could take a significant amount of time. customs and practices i think evolve for logical reasons over long periods of time. i think people go to work because they have to.

most people can't work from home. i think you would be underestimating the impact already of things like microsoft team which allows people to assemble teams on computers off-site. that's already taken hold in a big way in the knowledge working part of the economy. but i think most of the economy, people have to get to work, have to work with other people, and if we have a lot of fear of getting together with other people, we are going to have a difficult time going to restaurants, out to movies, sporting events, things like that. i think we will end up seeing a slow recovery and as a result, i do think we will see changes in practices in other parts of the economy where we make much more of an effort to have antivirals, we will have a lot more testing, we will be a lot more careful at the borders and diversifying our sources of supply so that we are going to try to hold i think china accountable for the fact they are getting a sickness every year, year after year, they have to take steps if they want to be part of the world economy to reduce the amount of

sickness we are seeing coming out of china. i think all those things may actually lead to less colds and flus than we are currently seeing. stuart: but the bottom line, what ill heari'm hearing from ye have to shift a whole bunch of people in the way they work and where they work and that's going to take time and that means a slower recovery. i hear you, ed. thanks for joining us. appreciate it. i want to move on. dow industrials still showing a big loss at the opening bell, big, okay, 700 points down. susan li, tell me about the airlines and their executives. what are they doing with salaries? susan: giving up their salaries because obviously they are going through a very tough cash burn situation, needing $26 billion in aid from the government and that $2 trillion economic stimulus plan so the likes of ed bastion of delta giving up his salary for this year, also oscar munoz of united saying they will

forego their base salary, maybe not stock options for 2020. same for american air president richard issam as well, doug parker of american air hasn't been paid a salary since 2015, usually paid in stock. it's a tough time for airlines. we know 80 airlines around the world from what i see have cut capacity by 100%. in the u.s., a little staggered. american air cut their capacity by 70%. united has cut capacity by 50%. delta has done the same by around 70% to 75%. because people are not flying. traffic is down 70% to 80% in the last two months. they will continue this through may from what i see. of course, american air cutting capacity by 80% compared to just last year. you wonder whether or not some of these airlines will be able to survive this turmoil. stuart: okay. let's go round the block for a second. i think as i walk around and i have not done much walking around but i can see out of my window the main drag of the small town i live in, it seems

to me that social distancing rules are being respected. how about you guys? ashley: yes. i can jump in, if you like. i would say yes. the only people i see every morning as i walk into work down deserted streets are construction workers. they are everywhere. they are reporting to work and they are continuing on which i find pretty interesting. other than that, it's very sparse out there, except for the supermarkets where you have people still standing outside, six feet apart, all the way around, down the street and around the corner. that's been my observation. susan: outside my window, no one is on the street. this is sixth avenue in new york at rush hour, 9:00 a.m. do you see anybody out there? have you ever seen the city this empty? stuart: no. i haven't. no. absolutely not. we are ending the first week of broadcasting outside our new york studios and i can tell you it's been good, solid. i'm looking around and seeing we are all keeping a great deal of

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stuart: let's get to the retailers, struggling to keep us stocked up. lauren, what do you have? first on target.

lauren: okay. so target, to protect their workers who are in many ways on the front lines of all this, if you have a return or an exchange, you cannot do it in the store for the next three weeks. so hold on to it. they will make sure you can do it at a later date. i also wanted to tell you about costco. you have seen the lines at stores, people going in, getting as much water and toilet paper as they can. now costco is cutting their store hours so they will be open monday through friday between 10:00 in the morning and 6:30 at night. they still will honor those earlier senior shopping hours, however. stuart: all right. thanks very much indeed. in about two minutes we will open this market. before we get to the opening of the market, let's bring in mike murphy, regular market watcher on this program. good morning to you, mike. i want to ask you if you think we are going to retest the lows. let's not get too technical here. i'm suggesting will we go back to 18,000 on the dow? >> good morning, stuart.

i miss you. i think we may retest the lows. if i'm betting right now, i still want to stick with the theme that buying quality companies on selloffs. when you have a three-at a r ot like we've seen, we don't need the fear of missing out. on selloffs like we're getting this morning, if you have a quality company you have been waiting to own, put it to work. but the worst may not be behind us. this could take a few more weeks to play through. just be patient and stick with the long term plan. stuart: we are going to get some seriously negative news on the economy in the month of april. i think the worst news will probably come in april. i always say the market anticipates the worst news and looks beyond it. >> absolutely. that's why we have seen this rally over the last few days. we are looking past the near term problems we are having and looking at what the economy's going to look like once we get this stimulus package that's been approved.

things will get better. that is a guarantee i'm putting out there. things will get better. the timing, however, may take a little bit longer to play out. stick with your plan of buying quality. stuart: okay. here we go. it's almost 9:30 eastern time, friday morning. it's 9:30 right now. we start trading. what we are going to do is take you through the big averages, the dow, s&p and nasdaq, and put on the left-hand side of the screen a whole bunch of different kinds of stocks, big tech, airlines, you name it. they will be up there. we have opened sharply lower. we are down 890 points on the dow industrials, almost 4%, but i have to remind you, yesterday. that was up. this morning we're down 860. as for the nasdaq, we are down 232 points. that sounds enormous and it is but please remember we had an enormous rally yesterday. same story with the s&p.

you're down 85 points, that's 3.25%. that's quite a drop. let's go through some of the stocks. i want to go through big tech and that kind of company to see how we are responding after yesterday's big rally. the dow industrials now down 790. okay. big tech. amazon is down 18, apple is down 6, microsoft down 4, google down 33, facebook down 5 points. so we've got a significant selloff in big tech but remember, please, it's a repeat, we had a big gain in these stocks yesterday. personally, i don't see how microsoft goes back to $130. that was its low. not sure it will go back to that. that's my opinion. i don't see how facebook will go back to the low 140s. it's at 156. i think that will hold. not that price will hold but i don't think it will go back and retest the low. now, in just a few moments, we are going to be joined by sandra

smith, co-anchor of "america's newsroom." we will be simulcasting on the fox news channel. i can tell you now the dow is down 850 points. >> that's a loss of about 3.75%. stuart varney is now joining us from the fox business network. we are simulcasting. you are still on your show and joining us here as well. we are looking at these markets together. we have been watching this entire process play out and now, there have been big hopes on this $2 trillion relief package for struggling americans. that led to three days of rallies. here we have an 800 plus point drop this morning. what's going on? good morning. stuart: i would just ask everybody to remember that yesterday, the dow was up 1300 points. you can expect a bit of a pullback today. over the last three days, the market overall has been up about

20%. that is the most explosive rally since 1933. so you can expect a little bit of a pullback. you can expect some people to take the profits they made over the last three days. there may also be very much concern about the state of the economy. yesterday we learned there were over three million first-time jobless claims. we're told that the unemployment rate could go to around 10%. all of that bad news will come in the early part of april. so the market may be anticipating to some degree some very bad news coming up on the economy in the near future. right now, we are down 800 on the dow, sandra. >> we are watching the house floor where there is expected to be several hours of debate on that relief package, and some indications there could be a no vote by this kentucky congressman massey. we might see him just a moment from now. we have a stake-out camera there. the president referencing him as a possible grandstander in all

this. if there were to be a delay with that package passing in the house, what would that mean for the economy and the american people? stuart: well, it would mean that the money doesn't get out there to the american people as fast as it should. the market would not like it. you might see a further downside move because of it. and you would get people generally throwing up their hands and frankly in disgust at the shenanigans of congress that they can't work out in a national emergency like no other, they can't get something done properly and quickly. i think there will be all of those reactions. however, let's be realistic here. i just cannot see a serious holdup in the bailout package. depending on what thomas massey does today, we may not get a vote in the next few hours, but if he does raise the issue of a voice vote and insists on a quorum, then those members will flock back to washington, you will get 216 people and by tomorrow, you will have a yes

vote. so the delay would only be, in my opinion, a maximum of, what, 24 hours. that's it. >> stuart, i know on your show you talk so much about the balance that eventually needs to be found with opening our economy back up as we eventually see the number of confirmed cases go down. you've now got the administration mulling over this idea of possibly ranking counties in the united states as far as risk of spread of the coronavirus and then possibly either bolstering measures to prevent the spread or starting to relax some of those measures. this is going to be the very fine balance that we eventually have to see in opening economy back up. we're still facing now the highest number of confirmed cases here in the united states than any other country around the world. stuart: yes, that is true. what we want to avoid, i think, at all costs, is a months,

plural, months long shutdown of the economy. that would be a catastrophe, flat out, a catastrophe, for all americans. you would have an unemployment rate that goes to, what, 20%. that's enormous. you would have an economy that actually contracts maybe by 15%, 20%, 25%. all of that is possible. so what you want to do is to bring people back to work as soon as possible without seriously endangering public health. there is a tradeoff here. you don't want a depression. you do want to get people back to work as soon as possible and i think the president's plan addresses that. you would only go back to work in low risk areas which are deemed to be low risk, so the risk of expanding the virus is very much limited and at the same time, you offer some hope you can get the economy moving again. it's a very fine line, very fine line to walk, very fine balance, but that's the job of the president and he's doing it.

>> fair to say this market's going to be all eyes on capitol hill to see what happens with that $2 trillion relief package and the vote on that and the debate this morning. stuart, as you mentioned, three days of gains we are coming off of, 20% up over the last three days, but this morning, some red, down 679 for the dow. stuart varney, thank you very much. great to have you on this morning. stuart: our pleasure. thank you very much indeed. all right. as we said there, the dow industrials are down sharply at the opening bell. we will be coming off a huge rally yesterday. susan, have you got news on amazon for me? susan: we have 13 facilities now confirmed across close to ten states that do have coronavirus cases in their warehouses. now this is concerning because it seems that we have amazon adding more head count, of course. as they add more head count, does that i guess populate more of these facilities and make it easier to spread coronavirus. that is the main concern right

now with more and more cases, new cases that are being reported across the country in multiple states. stuart: all right. thank you, susan. if you are just joining us, viewers, you are looking at a market that shows by normal standards a very sharp decline. by today's standards, it's not so bad. down 700 on the dow after a 1300 point gain yesterday. mike murphy, what's your analysis of the first eight minutes of trading today? >> i think you've done a great job putting it all together that yes, a 700 point drop typically would be a big deal, but with the volatility we've seen really over the last couple of weeks, this has become standard now. i think the important thing that we are looking for this bill to be passed and it will get passed, whether it's today or tomorrow, as you point out, i think as people start looking past this, there's going to be a lot of opportunity. there are certain companies that have traded off way too much, 30%, 40% in quality blue chip names.

i would urge the viewers at home to be very careful about trying to trade too much and really look for value where twhaehey w to invest money and watch these companies recover because the united states of america will recover, these quality blue chip companies will recover. there's a lot of money to be made on the other side of this for your investors who are watching the show. stuart: i'm going to bring up boeing for a moment and just show the audience what's happening with boeing. by the way, don't forget, boeing hit a low of below $90 a share a few days ago. it's now at $167. mike murphy, isn't boeing one of those blue chip companies which will simply not go away and which ultimately will get back to its old self? >> absolutely. where boeing is a little bit different is that they do have the headline risk from the 737 but they have already announced

they are fwogoing to start maki those again soon. a company like boeing trading today at $166, although it's come off a $90 price a few weeks ago, it's still a few months ago, the stock was trading north of $400. so yes, you get a strong dividend and if you believe there's really two companies in the world that can make large airplanes and boeing is one of them, their business will get back on track. so for a long-term investor it's a great investment at these prices. stuart: let me throw this at you. earlier this morning, i believe about 7:00 eastern time, we got the news that boris johnson, britain's prime minister, had tested positive for the virus. at that point, futures dropped a little bit. mike, do you think boris johnson testing positive has any influence on our market at all? >> a lot of that, at that time, the way the market dropped, that was programmed algorithmic trading, scanning for headlines and selling on that news. but let's think about where we

are. if there was a world leader that became sick with coronavirus and died from it, that would create more of a panic across the globe. so i think although it may not have a direct impact, it would create problems for investors around the world. we don't want any high profile deaths from this because that will just in my opinion, that would extend the amount of time where people are quarantined in their homes and prevent the united states and other countries from people getting out of their houses when it's safe and getting business back to normal. stuart: susan li, come in, please. what have you got to add about the market and trading in the first 11 minutes of business? susan: well, it's been the shortest bear market in history. 14, 15 days ago, we dropped 20% from -- just about two weeks later we are in a bull market run. yes, you re-enter a bull market but there are staggers down as well in the cyclical trading rhythms we have seen over the 93

or so bear markets we have seen over the centuries but some say we might see a little bit of a dip but as you mentioned, i believe what you are saying that we might not retest those lows we saw just a few weeks ago. stuart: okay. we are also trying to get a sense of the way america feels about this ongoing virus situation. we have a fox news poll which shows over 80%, almost 90% of the people are concerned about going into a recession and 77% are very concerned about the economic hardship for their family, 77%. access to health services, 74% worried. being able to get tested, 70% worried. i call that a sense of high anxiety on the part of the public. mike murphy, that's not good. that's not a good investing climate, is it? >> it's not, stuart. but it's really the world that we live in right now. people do have to be concerned about a recession when we saw

the jobs number yesterday. people do have to be concerned about having money, getting this bill passed and getting money in their pockets so they can feed their families and get on with their lives. lastly, people need to be tested for this. so all of these concerns that are out there right now that are affecting everyone in the united states of america to one degree or another is the reason we've had this massive -- one of the reasons we've had this massive selloff in the market. what the president needs to do, i think he is addressing this, is one by one, let's adjust every one of these. let's address the tests for people. let's address getting money in people's pockets. then once that's done, let's address getting the united states of america, the u.s. economy, back on track like it was. let's get people back to work. let's get the economy booming again like it was. i think we will get there. stuart: okay. thanks, mike. the dow is approaching a loss of 1,000 points. right now we are down 972. i've got two words for you. i'm sure many people in our

audience will know these words. tiger king. okay? it's a series on netflix. it's wildly popular. i believe the main character of "tiger king" just filed a lawsuit for $100 million. what's this all about, lauren? lauren: we are talking about something not related to the markets or the coronavirus right now. everybody is talking about joe g exotic, he filed from jail a $94 million lawsuit seeking damages from a host of agencies, government agencies, loss to personal property, you name it. he also asked for a presidential pardon. he's quite a guy. he was put in jail last year on 21 counts basically for euthanizing tigers, then ordering the killing of a rival but yeah, he's filing this $94 million lawsuit from jail and everybody is talking about the docuseries on netflix about him.

tiger king. stuart: i hear this from all quarters coming at me. got to see "tiger king." steven beck is with us. he follows the streaming companies, notably netflix. "tiger king" seems to be dominating social media and dominating netflix. huge source of success for netflix, isn't it? >> it sure is. massive hit right now. netflix is benefiting from, you know, having in some ways i guess you could argue the perfect timing for having a hit on their hands. you got americans, you were just talking about the level of anxiety across the country. you have americans looking for an escape. and right now, that docuseries is providing it. stuart: it is. netflix seems to be dominating the streaming business at this moment. it's a key moment for the streamers. because they've got so much new stuff. would you agree with that?

netflix is now the dominant streaming service? frmen >> well, netflix has been and continues to be, you know, the incumbent. they have the largest base and a broad catalog and that broad catalog is really benefiting them right now. disney plus is still doing really well. amazon is doing -- and their prime service is doing also really well right now. hulu has had a little bit of a bump. they are all benefiting from it. but there's no doubt that the usage numbers we are seeing, netflix is really just dominating and it's because hit show, broad catalog, lots of comedy so netflix has invested really heavily in comedian specials over the last year and a half, two years and again, in this time of high anxiety, americans are looking for escape and a lot of them are finding it on netflix.

stuart: you guys, you follow the streamers, you know who's winning and who's losing. you said you've got some usage numbers. can you give me numbers on netflix's dominance of streaming? >> yeah. you know, they have seen, obviously we have seen internet usage go through the roof, up 70%, 80% off of normal -- the normal time and we are seeing streaming sort of up in the same way. again, a lot of it's dominated by the core shows on netflix that have just been released, things like "tiger king." the older shows that have been on there like "broad church" seeing a renaissance and comedy specials just killing it. stuart: just killing it. all right. stephen beck, thanks for joining us. we do appreciate it. now, we've had boris testing positive, prince charles testing positive but ashley has a story

on harry and meghan. i don't know if it has anything to do with the virus. ashley: no, but from the tiger king to the duke and duchess of sussex. we understand according to the "sun" newspaper they left that swanky rental house in vancouver and moved to hollywood or a base near hollywood last week. they are living in lockdown, it is reported. harry, meghan and baby archie, of course. this is a move apparently that has been in the planning stages for quite some time. of course, they have a big support network, certainly meghan markle's mother is there. of course they have a new team of hollywood agents, business managers and so on. by the way, meghan markle is going to be on the screen. she's in the new disney film about a family of elephants. that will be available on disney plus from april 1st so i guess harry's lobbying to bob iger on the red carpet that we saw video of paid off. she got a gig with disney.

stuart: that was a little light relief provided by meghan and harry. thank you very much. all right. the dow industrials did indeed lose more than 1,000 points at the opening bell after gaining 1300 yesterday. going to take one of those commercial breaks. a lot more coming up after this.

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stuart: moments ago, president trump tweeting this. quote, looks like a third rate grandstander named representative thomas massey, a congressman from unfortunately a truly great state, kentucky, wants to vote against the new save our workers bill in congress. he just wants the publicity. he can't stop it. only delay which is both dangerous and costly. workers and small businesses need money now in order to survive. virus wasn't their fault. it is hell dealing with the democrats. had to give up some stupid things in order to get the big picture done. 90% great. win back the house but throw massie out of the republican party. strong stuff from the president. the gentleman he's referring to, thomas massie, he has threatened to call for a voice vote which would mean a delay in voting yes

on the stimulus package. we don't know whether he will do that or not at this point, but the house of representatives scrambling to get back to washington so they've got 216 present on the floor so they can vote in the positive. what a situation. i want to bring up boeing for a moment, please. i think that stock is way, way down. it is a dow stock, down 11%. look at that. it's a dow stock so it is hurting the overall dow industrial average. secretary mnuchin, treasury secretary, with maria early this morning, he said that boeing is not going to get a bailout. that was his words. whether they get any other kind of money, i don't know. but boeing is at $160 right now, down 11%. now let's bring in someone who is helping our country. dan baker is with us. he's the smile direct guy. dan, welcome to the program. i believe you're converting to make face masks, is that helping to produce medical supplies?

tell me what you're doing, please. >> yeah, good morning. i'm the global supply chain head here at smile direct based in nashville. you're right, we've got one of the world's largest 3d print facilities so we repurposed a lot of our capacity here to switch over from making our everyday business of teeth aligners and we are actually repurposing them to make face shields in response to this desperate need that we are seeing across the medical profession. stuart: how many face shields, as you put it, can you make all together? >> you know, we put 60 industrial sized 3d printers here so in a day we can make around 7500 face shields. we are looking at some other products as well like face masks but at the moment, we are solely focused on face shields and we are getting a lot of orders. it's all hands on deck at the factory here in nashville. stuart: all right. real fast, dan, how soon can you

ship your first face masks? >> we are actually shipping face shields today to the assembler who will make them. we should be shipping to hospitals and medical professionals certainly very early next week. stuart: okay. dan, thanks for joining us. we love to see private enterprise getting on board with this major effort against the virus. dan baker. smile direct club. thanks for joining us, sir. we have the dow now down 950. keep reminding you, please, it was up 1300 yesterday. we will take a break. back with more in a moment. flexshares may look simple on the outside. but inside every etf... there are untold hours of careful construction... infinite "what ifs?" and contingency plans. ... powered by over a century of investment expertise

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stuart: it's 10:00 here on the east coast and that means we are 30 minutes into this trading session and the markets this friday morning have opened on the downside. in normal times a 900 point loss for the dow be spectacular and we be making headline news for a week. in fact it's the normal course of events these days, up 1,300 yesterday, down 900 in the first half hour of business this morning, who knows where we'll close. the house is set to vote on the stimulus package today and the president is expected to sign it. there may be a delay because of thomas massey, a republican from kentucky who made a voice vote that could mean a delay we'll see how that works out. coming up later this hour, vice

president mike pence, he will join us, that is later today, roughly 10:40-10:45 this morning on this program. now just after 10 a clock a.m. eastern time we have the latest read on consumer sentiment very important and i know this looks backward a little bit, but does it tell us anything about the anxiety we're all feeling at the moment? ashley? ashley: it does, stuart it came in at 89.1, again a final reading for march. it was 101 in february, so that shows a big sharp drop-off. the expectation was already lowered right around 90 but coming in at 89.1, on consumer sentiment, probably not a huge surprise given everything that's been going on, but again, we're up at 101 in february, prior to the pandemic. stuart: i want to bring in jack howl, a bear ons guy, jack look you heard the consumer sentiment really flopped really a sharp decline in consumer sentiment and our own fox news

poll suggests that there's high anxiety out there. that's not a good investment climate is it, jack? >> it's not great. for people who are wondering whether they should put money to work here, i'll tell them this. if we're talking about for the next 10 years i'm confident, go ahead, put money to work in stock. prices are reasonable now and that's all you need. if you're thinking about the next six months and you're trying to figure out are we at the bottom, good luck with that. what i can tell you is diversify , right? even if the darkest moment for stocks and the market was down 30% if you were at a 60/40 split of stocks and bonds you were down about 20% this year and over the past calendar year about 10% so that wasn't fun but that's not going to ruin you either. you must stay diversified right now. i think people are getting mixed up in their head saying look, i want to be supportive. i want to be patriotic so it's time to buy.

the stock market does not care about those kind of emotions and the virus doesn't care. i'm hopeful for the course of things later this spring and summer but you must protect yourself. stuart: real fast, jack, there may be this delay in the stimulus vote. may be, looks like there will be a delay. is that a factor in the market? i personally don't think it is but what do you say? >> well that money is already priced into this market so a long delay would really be disappointing for investors but you said earlier, we had this massive run-up earlier this week so you have to consider today's decline in the context of that. if you want to look at one stock that tells the whole story, look at boeing. goldman upgrades the stock on monday and says we see more than 80% upside for the stock. it hit their target by thursday. in fact exceeded the target and now today, it's getting hit so

it speaks to the volatility out there. everything is about the virus and how quickly we can get the situation under control. stuart if you're looking for some kind of helpful note i have a new podcast out the first episode is out to the all about the search for a covid-19 treatment i start with an interview with the ceo of reg eneron whose working on that right now. stuart: will that podcast have something positive on a treatment? >> it is about the things on the shelves that we're trying now and the medicines these companies are trying to develop tailored for covid-19 and how quickly we can get a vaccine. stuart: okay, got it jack, thank you very much indeed. >> thank you. stuart: ashley we're trying to update various parts of the country developments with the virus. you've got an update from new orleans? ashley: yes, this is quite shocking. it has the fastest increase in new cases of coronavirus than

anywhere else in the world. it's on the same pace right now as spain and italy, and health officials say this could all go back to mardi gras which was held january 6 to february 25 which is fat tuesday and as one health official put it with regards to the big crowds in new orleans forward it gary cohen he says it's the greatest free party in the world and a perfect incubator at the perfectly wrong time so they believe the number of cases that have exploded probably links back to mardi gras and all those people hanging out together. the state reported 2,300 cases in or liens parish which is the parish of new orleans and they've already reported 46 deaths the largest number anywhere in the state and that just shows you what not social distancing can result in a mardi gras being perhaps one of the biggest examples. stuart: well said, all right

ashley thank you. there is some resistance to people leaving the new york metropolitan area, maybe there's some stigma about the area because it is the epicenter of the virus, lauren simonetti tell me more about that, please. lauren: it pains me to say it stuart but it's true. there is a stigma if you are from new york these days. new york state has over 39,000 cases of coronavirus, 45% of all of the cases in the u.s. if you look atman hat an specifically, small apartments so what are those people doing? renting places in the hamptons and the catskills and upstate new york, and driving to other states and the parts of new york and other states outside don't want to see them coming in in many respects. and we've been told, new yorkers have been told look, if you're here, if you go to the state you need to quarantine yourself for 14 days, so it pains me to say but new york city and new york state the epicenter and

there's a stigma on people leaving the epicenter. stuart: understood, i do understand that. thanks very much lauren. susan? what about the cruise lines? >> they are getting hammered today because they aren't part of the $2 trillion relief package that looks to be passed by the house today according to nancy pelosi and the reason is these cruise lines are based elsewhere so from what i see carnival cruise lines is actually based in panama, royal caribbean incorporated in liberia and norwegian cruise lines headquartered in bermuda and it requires these companies domicile in the u.s. and their employees are primarily americans and a lot of people say the cruise lines just don't meet these standards; however, they are hoping for some help because they say that there are 421,000 people in the u.s. whose jobs are tied to cruises. stuart: well they are taking it on the chin today, 12% down, 13% down, taking it again. got it. all right thanks, susan.

now, we've been critical of speaker pelosi for dragging things out and delaying the stimulus package. now there's a republican who may be spreading things out. thomas massey, republican from kentucky may be demanding a voice vote which will holdup the stimulus program even more. tammy bruce, come in, please. tammy, i think as a degree of frustration with congress, people are throwing up their hands and saying what on earth is going on? you've been holding this thing up for a week. you still haven't gotten it done there's a level of frustration here which i've not seen before. >> well there is and even what representative massey wants is not necessarily unusual but because pelosi delayed it for three to four days, it suddenly becomes urgent, right? we're coming up to the first of april, people have rents to pay, but the fact of the matter is is that this is a bill that is hundreds and hundreds of pages long, like what is it now?

800 to 900 pages long? it is the largest stimulus bill in the history of the country, and so representative massey wants to know specifically whose voting on this bill, and to get people effectively on the record. i think that's fair. a lot of people of course had been out of town. nancy pelosi had a fly-in. she was on her little vacation, so we're looking at a congress that tends to do things and look this is an unusual situation, and it is urgent and it's not as though it's like with obamacare, remember they passed that on christmas eve. so i think certain members of congress should be frustrated that there's no real time to read a bill like this , that the american people deserve to know whose on the record, whose read it, who has not because this is part of why congress is such a horrible polling rating, the latest poll from gallop, hospitals of course rating the highest, media the lowest and congress the next lowest so

americans don't appreciate this and look our voice is going to be heard in november again. stuart: okay. president trump as you know, tammy, has a plan to rank counties in terms of risk, high, medium, low, with a possibility that low risk counties could be going back to work fairly soon, get the economy moving there, but at the same time, america now has more cases than any other country in the world if you believe chinese numbers. the two seem to run counter to each other. what's the president doing here? >> well you have to consider of course our size. we can't really compare cumulative numbers, because our population of course is five or six times that of italy so people, those who are doomsday, point to just the couple numbers the fact of the matter is that we certainly are larger than these european nations, spain and italy and i don't know who can believe china. clearly, a country with billions

of people hasn't suddenly just not had one case. now you can eliminate cases, absolutely, by not testing and not reporting, so the bottom line is what we have to look at and the president it's a great idea. we've got a majority of the cases here in new york. california is catching up a bit, and to issue a nationwide policy makes no sense. that's why we're a republic it's a federation so states can look at the nature of how they're doing and then you've got certain areas, certain every state of course has cases, but not every state is in the kind of condition new york is in in so it make sense to be able to show people and to tell citizens of certain states look, we see you're in better shape, you should get going, but when we talk about the economic engine, new york of course is key. stuart: give them some hope. all right tammy bruce thank you very much for joining us. >> that's right. stuart: the dow industrials now down 700 points, moments ago we were showing you the oil company

, and the drillers they're down big time, because oil has retreated to $21 a barrel. that's the other crisis area as well as the virus. all right we'll take a break and back with you in a moment. it's a challenging market. edward jones is well aware of that. which is why we're ready to listen. and ready to help you find opportunity. so. let's talk. edward jones. it's time for investing to feel individual. ♪ ♪ why do things that are supposed to make life easier sometimes feel so complicated? ibm watson is different. it's ai that works on any cloud to help your business tackle problems... from building smarter cars to predicting sales trends to improving customer service... without slowing you down. ♪ ♪

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stuart: all right, dow jones industrials now down what 800 points? we had been down more than 1,000 i did can call that a little bit of a comeback if you like and it is we're down 850 as we speak. more states are declaring disasters or emergencies, i think what do you got ashley? ashley: well what seems like a list that grows and grows each day i remember just several days ago of course we have michigan and so on. now, you can add three more to the list president trump approving maryland as major

disaster declaration that's in addition to missouri and illinois. this is all part of the staff ford about which calls for the release of federal funds in the case of either an emergency declaration or even the more serious major disaster declaration and that is the category that has been announced for many states now across the country. it frees up federal funding to states and local governments, and also helps out certain private non-profit organizations for emergency measures so basically, hacks into the federal government to back up what's going on at the state and local levels, stu so that list of states declaring a major disaster continues to grow stuart: so it's not an extension of the state's declaring a stay at home order? ashley: no. stuart: it's an extension of the number of states which have got a disaster declaration so they can get federal money? ashley: that's exactly right. stuart: all right let's bring back susan you've got more news on amazon. what's that? >> remember amazon just a few

weeks ago said they are prioritizing these essential supplies into their warehouses, and that is because there's a shortage of them, the face mask, the hand sanitizers, food and water and only accepting those essential items into their warehouses and they are employee tending this policy and brought in items by items given the capacity constraints they said this is very important right now for relief for americans, and they are going to extend this beyond the april 5 deadline, so this is something positive, especially for americans. obviously need to stock up and are being told to stay at home. also i should remind our viewers of the coronavirus apparently confirmed cases have apparently hit at least 11 amazon warehouse s, so far, still 11 states some are even taking a 13 amazon fulfillment centers but this is a concern even bernie sanders has stepped into this debate saying that amazon needs to better protect its workers, stu? stuart: okay, thanks, bernie. never realized that. thank you, susan. lauren you have news on mgm and hilton, please?

lauren: i do, more bad news, stuart, hits the hotel and the casinos. so here is the good news. that stock was up 50% coming into today. it's down today with the rest of the market. here is the news. mgm drew on a credit line as they tried to bulk up their cash and they now have 3.9 billion in cash and they are cutting expenses doing everything they can to stay afloat, and they don't see any material improvement until we know how bad the coronavirus and the economic crisis gets and how long it lasts. here is the news on hilton, that stock obviously down as well, starting april 4, they are furloughing many of their workers. if you don't get furloughed you're going to take a 20% pay cut for the duration of the crisis, the ceo obviously not taking any salary during all of this , but if you are furloughed that is expected to last for about 90 days. hilton is allowing you to work

at amazon being part of their delivery chain and their infrastructure. stuart: that's interesting swap of workers right there, and probably a very good idea, thank you, lauren. i want to bring in lenny curry, the mayor of jacksonville, florida. your honor, i think that's the correct term of address, your honor, welcome back to the program. >> good morning. stuart: i understand that you're really trying to force employers to allow their people to work from home. what are you doing to make sure that employers allow that? >> well, we have a hot line people can complain, and we are cataloging those complaints, and then our inspectors will go through those and determine which ones seem credible and engage them with the employer and so my executive order basically says if the job function your employee does can be performed at home, those individuals should be working from home, and we're

asking employers and employees to calm down, take a deep breath and figure this out. the city does have enforcement power, we don't want to use that , but if we have to go there , we will. stuart: okay i'm sorry i didn't her the last part of what you had to say there your honor but i'll continue. in jacksonville, sit itself, what's the level of acceptance of social distancing? how many people are actually are people obeying this command, social distance? >> they seem to be. if you go to the grocery stores, people seem very serious about this , sanitizing their hands, keeping their distance, so yeah, and i think in fact most businesses are heeding the executive order and by and large, if employees can do their job function from home, allowing them to do that. some said why not do a shelter- in-home order.

places have issued that, other counties and other states. behaviors seem to be contrary to what that's trying to accomplish in california you saw beaches packed last weekend, new york you saw people get on airplanes and come to florida. you see people in neighborhoods aggregating and congregating with people that they don't usually see , so my view is if an employee can work from home they should be homeworking and if they can't because their job function has to be in the office i'd rather them be in the office around the people they are usually around, social distancing and practicing the right hygiene efforts and i think that's the way we keep people safe. stuart: your honor, i lived in the new york metropolitan area. if i want to jump on a plane later on today and head down to jacksonville, florida, what would you do? would you tell me i have to go into quarantine for 14 days? would you say don't come, what would you do? >> yes, the governor desantis put out an order that would require that

, and i would stand by that order and that is what be expected and they have compliance measures, my understanding, to make sure that would happen. and look, this is we love new yorkers. we all love each other in this country but right now we've got to contain this virus and do every step we can to make sure the virus doesn't spread itself. we spread the virus, and we've got to put a stop to it. stuart: got it. lennc curry, the mayor of jacksonville, florida. a couple of times you've been on this program and you're a welcome guest. we hope to see you again, sir. >> always good to be with you. thank you. stuart: update on the market we're down 850 now, on the dow industrials, and again i have to remind everybody we're up 1,300 points yesterday. there's another side to the economy problem and that is the price of oil. it's down to $21 a barrel this morning. yes, gas prices continue to

decline very sharply. the average price for gas nationwide is now $2.06 a gallon , but that sharp decline and persistent decline in oil on your screens now, 21.37 down another 5%, that's putting real pressure on the drillers, the frackers, and the major oil companies. another side to the economy problem that we have. take a break. back in a moment.

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stuart: if you're just joining us there are dramatic developments on the virus. i'll start with this from britain. prime minister boris johnson has tested positive. he is going into voluntary self- quarantine at number 10 downing street as the official residence of the prime minister in britain. he says he will continue to function as prime minister, if he can't, then he will go to his foreign minister who will assume the duties of the prime minister that was dramatic news this morning and actually, sent our stock market down a little bit more. the other dramatic news comes to us from spain. 769 deaths reported there, just in the last 24 hours. that is a spike in the death rate in spine. over here, in america, we have new orleans as emerging as a

potential hotspot for the virus. it's being blamed on the mardi gras celebrations just a couple weeks ago. there's a spike in cases there. on the market this morning we've got a downside move up about 800 points for the dow industrials. at one point we were down 1,000, came back to a loss of 888 as we speak. it's a downside move but you've got to match that, against the enormous rally that we had yesterday. i'm sorry, say that again, please? okay, i can't her that. okay thanks, eddie gabore is with us, our market watcher of the moment welcome to the show good to see you again. i just want to no one thing. we've got all these ups and down s, and i want to know what, if anything, are you buying today? >> so look stuart after the 21% rally that we have seen in three days, i be cautious jumping in right here; however in regard to today if i had to pick a sector

that i loved the second half be home builders, okay? the bottom line is this. there's going to be a lot of pent-up demand when we get out of this. i don't deny the fact that the numbers are going to be horrible over the next four to six weeks so i expect volatility to the downside continue and possibly test the bottoms that we saw on monday; however i'll tell you what i told our clients two weeks ago in a special video what's going to happen here over the next few weeks in my opinion is going to create buying opportunities of a lifetime for people in my opinion, when you look at these companies that are down 40 and 50%. what the fed has done is unprecedented. to put it in perspective, in the last two weeks they put about $1 trillion of liquidity into the system. back in 2009 many people pointed out the fact it took about eight months to get that same amount of stimulus so i compliment the fed for getting ahead of this thing and putting a massive backstop to concerns of

banks folding and going into a great depression, so the bottom line for investors is it's going to be very choppy, and we're going to test some lows in my opinion but i be buying those and there's going to be lots of different sectors that investors can take advantage of, and it's not easy to buy in times of fear, but time and time again, its proven that if you have the guts to do that as long as you're not taking too much risk you will be rewarded in the long run. stuart: hold on a second, eddie. i'm hearing you, but here is my opinion. i don't think that boeing will go all the way back down to 90. i don't think that disney will go all the way back to 80. i don't think microsoft goes all the way back to 130. i don't think apple goes back to 230. i think those lows will hold in those stocks. what do you say? >> so when i'm talking about market testing bottoms i'm talking about the actual average s, the s&p and the dow. i agree with your point that there's going to be certain

stock and have probably already reached their bottom because keep in mind when this vix hit 80 and we had this massive sell-off, the market was pricing in defaults for lots of areas and just the absolute worst case scenario economically and our point was we did not think the absolute worst case was going to happen even with the devastation short-term. the good news is this. we think that this is going to be very painful in the short-term but because of the measures that the government is doing, we think we're going to have one of the fastest snap backs in history in regards to coming out of a recession. certain sectors are damaged. the hotel sector, some of the entertainment, the restaurant business, i do feel for those sectors, but the apples of the world, the microsofts of the world i agree with you stuart. i personally nibbled on some of those last week and i will continue because the bottom line is this. no one is ever going to be able to predict the exact bottom but if you get anywhere close and

again, dollar cost average throughout these bad times when everyone is saying to get out, i do believe you're going to be rewarded if you're buying companies with strong bernie sanderses and there's some wonderful dividends right now that you can put up against a 10 year treasury only paying 80 barbara bush basis points right now so again it's tough in the short-term but i do think our wonderful opportunities are going to come out of this. stuart: all right, eddie gabore, holdup in your house i believe with your two young sons i hope you're doing okay down there. we're okay up here i'll leave it at that thanks very much indeed. >> thank you. stuart: let's go to lauren now with news, game stop what's happening? lauren: it's a winner. it's a winner right now in a down day, so we're staying at home, and what does that mean? it means we're playing video games, and the like, to stock up well 1% it was up much more earlier. the company last night gave their numbers for the past quarter. we don't care about past. we care about future and they said they are seeing strong demand going forward because of

coronavirus. one headwind for game stop is a lot of the consoles and the hardware, they don't come out until later in the year so they are watching to see if customers actually will have the money to purchase those items. stuart back to you. stuart: all right thanks so much lauren. i want to be joined now by chung wong, gamer world news entertainment host the guy we go to for all news on gaming. chung welcome back to the program, good to see you again. i think you've got numbers on which games we're playing more of. lay it out for me. >> absolutely glad to be back. i will stay to start off video gaming has always been a tremendously popular pastime. there's currently 2.7 billion gamers in the world right now and with covid-19, they are sure to win over more consoles. now, if you look at this time, there's been a lot of people who are playing video games so steam , which is the online

digital store front actually saw a record of 22 million log-ins within a single day. internet gaming usage in this country has gone up by about 75% and this month has generally been good for gaming also because new games have come out. the highly-anticipated half life came out after a decade, doom eternal, animal crossings, new horizons all these games are critically well-reviewed and selling well and since people are sheltering at home they are playing more of these games. stuart: real fast i am told that the internet is slowing down, because there's so much usage. is that accurate? >> yeah, that's absolutely accurate. between the video game industry and netflix they are basically pushing internet streaming to its absolute limits. its gotten so bad within the gaming industry that microsoft and anyone tend to servers temporarily crashed so you could say it's almost a little too much of a good thing. stuart: okay, chung wong, thanks so much for joining us, gaming in the united states up 75%

because we're all locked down at home i've got it thank you very much indeed. >> thank you, stu. stuart: now i want to bring in t homas walley, the co-founder and ceo of unicast. he tracks smartphone data and i believe you have tracked which states have the best compliance with social distancing and i believe that d.c. is top of the list, is that accurate? >> yeah, that's correct, stuart so we are a data company, and we set down with the team last week and said how can we help in this pandemic crisis, so the team built a store board where we look at how the changes in business travel has changed across the united states on a state and a county level. stuart: am i right in saying that the best compliance with social distancing the rules is

first, d.c., then alaska, then nevada and then new jersey and then rhode island is that it? that's the list? >> yeah, as of today, the states that we have scored based on how much drop in distance travel we're seeing, now during the coronavirus versus before the coronavirus. so our goal here is to -- stuart: the worst performers are oregon, new mexico, idaho, wyoming and montana. they are the worst at social distancing. is that accurate? >> correct. when we look at our data we see those states have had much less change in the distance traveled now versus before the coronavirus. stuart: do you think we'll ever get back to big time business travel? >> yeah, i think what's important is how you define social distancing and shelter in place, because it's really about staying at home and about

avoiding all your non-essential trips and about maybe taking one trip to the grocery store a week versus five, and this is what our data can show is that some of this especially the coastal space has seen a drop in this. stuart: that's, i'm sorry to cut you off like this but that's valuable information and i'm glad we got some of it out there to our viewers, thanks for joining us, sir. going to take a break. we'll be back after this.

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in client portfolios. tap untapped potential. and strengthen confidence in you. flexshares. powered by over a century of investment expertise before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. stuart: there is a fight on the floor of the house of representatives, it's about the stimulus package, hillary vaughn is there. what's going on, hillary? >> well stuart it was a bizarre and rare moment on the house floor. congresswoman hayley stevens a democrat from michigan was screaming on the floor, really delivering a doomsday message, because she thinks that families are not taking this virus

seriously. i don't know if we have sound from that exchange, but basically, she was wearing pink latex gloves and was repeatedly gaveled down by the chair. if we have the sound i'll pause to play that now. >> you will see darkness, you will be pushed, and our society needs you to stand together at this time, our country loves you , to our doctors and our nurses, i wear these latex gloves. >> your time has expired. >> and stuart i will point out that we expected this to go through with a voice vote but clearly tensions running very high on the democrat side and we've also heard from some republicans who weren't thrilled with what's in it. stuart? stuart: hillary i'd call that histeria but that's just my judgment, hillary vaughn right in the middle of it thank you very much indeed. representative ralph abrams is

with us, republican from the great state of louisiana. congressman welcome to the program. we understand that new orleans is now an epicenter and certainly a hotspot. do you wish maybe that mardi gras had been canceled? >> look, it certainly contributed it looks like to the spread of the virus. decisions were made on the knowledge at that time, and it was a tough call, but new orleans is definitely a hotspot now, stuart. stuart: what do you make of that scene that we just saw on the floor of the house of representatives? a very emotional appeal about we're not obeying these social distancing rules and we've got that whole point about whether we get a voice vote or not and the delay. what's going on in congress, sir >> well, i think it was a little bit over-the-top. the president and the vice president, they've been aggressive. they've been logical in their approach to combating

coronavirus. they've done a wonderful job and have prevented deaths and prevented spread. so we need to take a step back and understand this is a airborne and surfaceborne virus that we are developing drugs, we have some drugs in the experimental phase such as hydroxychloro quine that is working. stuart: well, you're a doctor. you left d.c. to go back to your state where you're treating patients. are you allowed to treat with this drug? >> the rules now, stuart are that we can use this drug only in severe hospitalized patients, and that's good, but we have to get permission. now we, there is a deal in effect now called the right to try bill which was passed a

couple of years ago in the hopes of allowing cancer patients to use experimental drugs as the last resort. this hydroxychloro quine should be used exactly like that and used as a decision between the patient or the patient's family and the doctor. i've talked to colleagues in seattle, new york, new orleans, literally everywhere in the nation that i could get to them, that have used this drug and in most cases, not all but in most cases it's having some great success. stuart: other than that, congressman, are you having trouble with medical equipment and medical supplies? >> well we're having problems getting the protective equipment that is needed for the hospitals that is getting better again i go back to president trump, and vice president pence's aggressively in treating and combating this issue. they've allowed companies that would normally not make these types of products allow them to

do this , and now we're seeing more of it come to the market and the hospitals and come to where we need it in the clinics. stuart: in the clinics and the hospitals that you've seen, in your area, have you seen, are they overwhelmed? >> in my area, no. they are busy but they're not overwhelmed. now that's somewhat different i've talked to physicians in the new orleans area and they are really stressed down there in some of those hospitals but where i am helping out in the clinic in rural northeast louisiana, we're busy, but we're not overwhelmed. stuart: congressman ralph abrams , we appreciate you being with us today, very difficult circumstances, but thank you for being here, sir. appreciate it. >> thank you. stuart: now charlie gasparino joins me and i think, charlie, you've got news on major league baseball. what do you have? charlie: yeah it looks like there is going to be a season

some day, this year, stuart, and we're getting these details right now. the story will be breaking i think today. here is why. the players unions voted last night to agree on the following. basically, allowing the commissioner rob manford to establish a firm date for opening day, so he has the authority now to do that and we'll get into that in a minute. also to give an advanced sum of money against salaries to player s amid the season delay. remember they are going to be not working for a while. they are going to get an advanced sum of money and how to handle the amateur draft and the owners are likely to vote on this this afternoon. now here is what the deal means in plain english. it will clear the way for the baseball season that will likely launch spring training in mid-may. the season will start in late may or early june. this is according to the broad schedule that manford is going to put into the works. the season will feature

approximately 140 games, those games will run into october, so you'll have a longer playoff season, from what we understand, and apparently more teams will be in the playoffs. we should point out that this thing is a rough draft that manford put together. it could change if the virus spread gets worse. it is what's known as a broad outline but what we have now is some potential daylight on the start of the baseball season obviously it's not going to be next week as was scheduled. stuart: we've got to go. i'm out of time. that's fascinating stuff. thanks very much, charlie there will be a season of sports for baseball of sorts i should say. we'll be back. you can't predict the market, but through good times and bad at t. rowe price we've helped our investors stay confident for over 80 years. call us or your advisor. t. rowe price. invest with confidence.

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stuart: it's friday, and many of us are now into our fifth or sixth day of home confinement. stay at home orders, all across the country. let's go around the horn here as we say, around the block, that be with susan, lauren, and ashley. let me start this. i'm beginning to get used to this , and there are aspects of being confined at home that i like, i'm getting a lot of sleep lauren: like what? stuart: i feel an absence, wait a second, there's an absence of

responsibility to go outside and do anything. i'm being responsible by staying at home and doing nothing. now, lauren? it's much easier for me, because i'm alone, i don't have elderly relatives and i certainly don't have young children, how is it going for you, lauren? lauren: in some ways, it's refreshing. it's a return to a simpler time before we inundated our schedules and our kid's schedules with this practice and that practice. now, the focus is much more simple. having said that, there is a feeling of cabin fever and every day when we go outside and we ride our bikes and scooters, i can see my neighbors pushing further away from me. we used to wave and say hi from a few feet away. now it's like almost as if they're turning their backs and i don't think it's because they don't like me. i think people are just nervous in general. stuart: lauren? i believe that the vice president of the united states has been listening to you and what's happening to you and your

cabin fever because the vice president joins us now, mike pence, micked up ready to mr. vice president, it's very good to see you today, sir. >> thank you, stuart. good to be with you. stuart: now, there is the most cases of any country in the world, that's the united states. we've done polls about how people are feeling and there's clearly high anxiety about the country and the virus. yet the administration, your task force, the president, talking about opening up the economy in certain areas. is that running counter, high anxiety, yet opening up? >> well, what we're seeing across the country is that tens of millions of americans are literally putting into practice the president's coronavirus guidelines, 15 days to slow the spread, and they are also

listening very carefully, stuart, to state and local authorities in areas where the coronavirus outbreak has been more significant. we are particularly focused of course in the seattle area, california, but now with more than half of the coronavirus cases in america being in the greater new york city area, we are flowing resources, we are flowing supplies, we are giving guidance and fully supporting the efforts of governor murphy in new jersey, governor cuomo in new york, and i must tell you that from my vantage point, i think the american people can be proud of the response of our local health care workers who have leaned into this effort, particularly in the areas where there's significant outbreak, i think they can be proud of every governor across the country who's provided strong leadership, but i also know how grateful people are that from

very early on, all the way back in january, president trump has taken decisive action to put the health of america first. there's no question that by suspending all travel from china on january 31st, by suspending travel from europe very recently, screening all passengers to the united states from italy and south korea, president trump bought our nation invaluable time to stand up our response. now over the last month, we've had a whole of government effort, full partnership with our states, and with the cooperation of the american people, we believe, we believe that even as this outbreak continues, that we are significantly impacting it and saving lives. stuart: you were -- the administration was the first to cut off travel -- travelers coming here from china. did that way back in january.

but the criticism is that you were then slow to launch a serious effort to combat the virus, testing, for example didn't go well. what's your response to the criticism that you were delayed in a serious all hands on deck approach? >> well, i'll tell you what, i was in the oval office in january when much of washington was focused elsewhere and i saw this president completely focused on the threat of the coronavirus as it was beginning to emanate from china, and you know, the president spoke to president xi last night and spoke to all the g-20 leaders yesterday morning in a conference call, but he still put the health of america first, he made that decision and he stood up the white house coronavirus task force at just exactly the same time. on the issue of testing, i couldn't be more proud that as of yesterday, more than 550,000

tests had been administered across the country. we're literally testing tens of thousands of americans every day and the reason we're able to do that is because many, many weeks ago, the president recognized that the old system of testing where you send a test in to your state labor or to the cdc and a manual system to determine what the infectious disease is, was just not big enough to deal with an outbreak like we're dealing with with coronavirus. he brought in all of the major commercial labs. they formed a consortium and now you have companies like labcorp and quest working with equipment by great companies like roche and literally every single day, tens of thousands of americans are being tested. as the president observed in our first week alone, the united states with that incredible ingenuity and that partnership

that the president forged with commercial labs, we actually did more coronavirus tests in eight days than south korea has been able to do in eight weeks. and we're really just getting started because now we can expand testing across the country and very soon, we'll have what's called point of care testing available, which is, that's going to be when you can go to your doctor and your doctor will have a coronavirus test that can actually be performed in less than 15 minutes. that's all happening, it's all happening because of the resources and the free enterprise ingenuity that president trump brought to the table. stuart: we are told that the virus, the number of cases, should peak around april, mid-april. will you hold with that forecast? >> well, the only -- my only answer any time people ask me about timing is two things.

number one, president trump made it clear that we want to open up the country, but we're going to do it responsibly and number two, we're going to do it based upon the data. you know, early on in this process, stuart, it's becoming more widely known there was a lot of projections and a lot of modeling about, you know, 40, 50, 60% of people being infected around the country and around the world. i can tell you that our health experts like dr. deborah birx and others, were very skeptical of that modeling from early on and they have said to us consistently we are going to follow the data, and when the president sent that letter to every governor in america yesterday, and he said look, we're going to be issuing new guidance in the days ahead and we're going to literally be examining the data on a county by county basis. there's going to be areas of the country where we just, we have to support our governors and

mitigation efforts have to stay very strong and in some cases, even become stronger, but for much of the country where the outbreak is very limited, the president is anxious to give guidance based on the data to our governors so that they can decide whether to be reopening businesses or reopening schools, about the best way to open our country up again. but whenever that timetable is, and the president expressed an aspirational goal of easter, stuart, the best thing every american can do to hasten the day is to put into practice the president's 15 days to slow the spread. washing your hands, personal hygiene, if you're sick, stay home. if you can work from home, don't eat in restaurants, i don't the drive-through, avoid gatherings of more than 10, avoid non-essential travel. tens of millions of americans have been doing this. we know it's had a good effect.

we will see it in the data and the weeks ahead but everyone that wants to see america back to work knows exactly what they can do is these 15 days to slow the spread and also listen carefully to what your state and local authorities are saying, especially in areas where the outbreak's been significant. stuart: this may be anecdotal but there is clearly a problem with hard data, hard numbers. for example, we have someone who took the test eight days ago, and only just got the result and it was a positive result, a positive test. so we don't really have a handle on firm numbers, who's got it and who's carrying it. we don't know that at this time, do we? >> well, we're rapidly accelerating testing, as i said. about a week ago monday, we had done roughly 50,000 tests.

from the start of the year, using the old system. as of yesterday morning, we had done another 500,000 tests where people all had the results. but to your point, stuart, president trump has made it clear we're going to continue to stand on the accelerator, rapidly expanding testing across the country, and we also issued guidance to all of our commercial labs today to prioritize in-patient testing. we want people that are hospitalized and are concerned that they have the coronavirus to be moved to the front of the line to get their test processed, and we are grateful that our commercial labs around the country are cooperating with making that priority happen. stuart: well, mr. vice president, i think at most, we are two weeks into a stay-at-home order, at most. it's probably less than that. most people thus far are respecting the social distancing rules. but how do you think americans

are going to react if we are locked into our homes, locked down, for a month or six weeks >> well, i think t american people always rise to the challenge, and that's what i'm seeing all over the country today. in fact, it's not just american families that recognize that while the risk of serious illness to the average american, particularly younger americans, is very low, the risk to seniors with serious underlying health conditions or anyone with an immunodeficiency is very significant and people are putting the president's guidelines into practice because they know none of us would ever want to inadvertently expose a loved one, a family member, a neighbor, or co-worker to the coronavirus who would be vulnerable to a serious outcome. but i also have to tell you here on fox business, stuart, that the way american business is

stepping up is truly inspiring. we hope that congress today will pass the care act. it will speed $3400 to a family of four, it will provide payroll support for small businesses, lending facilities for our major industries, support for our hospitals and our states. but i have to tell you, i've talked about this yesterday at the briefing, you know, to see companies like walmart hiring 150,000 people, announcing those hirings, amazon, the same, pizza hut hiring 30,000 people, and the generosity that businesses are showing stepping forward, donating industrial masks, supplies that they have to their local hospital, it's truly been inspiring. i know the president's going to look at the data, we're going to bring him recommendations over the course of this weekend as we come to the end at midnight

monday of the 15 days to slow the spread, we'll have additional guidance for our states and the american people going forward. but we have every confidence the american people will continue to rise to the challenge. we'll slow the spread as every american cooperates and supports the president's leadership and supports the leadership at their state level. we'll protect our most vulnerable and heal our land. stuart: were you shocked to hear prime minister boris johnson had tested positive right after prince charles had tested positive? >> i just heard that this morning and saw the message that he posted. as you know, president trump has a strong relationship with prime min s minister boris johnson. we consider him not just a great ally but a great friend and we wish him well but, you know, to

see his resolve, they said he had had some mild symptoms but he was going to continue to lead his country. we are confident of that and we'll do the same here, working closely with our governors, with our courageous health officials, we'll get through this with the cooperation and the prayers of the american people. this, too, shall pass and we will deal with the coronavirus the way the american people always do. stuart: mr. vice president, mike pence, thank you very much for joining us this morning on "varney & company." much obliged to you, sir. appreciate it. thank you. >> thank you, stuart. stuart: yes, sir. now, let's reset the market. let's reset what is happening. the dow jones industrial average at the beginning of that interview was down 850. we are now down 790 points. i'm not suggesting that the vice president affected the market at all. there was not that much movement during the interview. but we are still down, down 790 the dow. look at that nasdaq, down 230

points, another 3% loss there. the s&p is down nearly 80. that's a loss of 3% as well. now, the news coming in thick and fast. we have steve hilton with us. steve, i think you listened to the vice president there. your reaction to what he had to say? >> well, i think you asked him two very good, very pointed questions. he answered one of them very well and one of them, he completely dodged. let's start with the positive. you put to him very directly the president wants to open up the country, won't that cause anxiety if it's done too quickly, and make the problem worse. i thought he gave a very strong answer there which was to say look, no one's talking about lifting all the restrictions everywhere overnight, but in some places, it might be possible to open up quicker than others and other places, it might be necessary to tighten up the restrictions and we are going to do it based on the data. i thought that was a good answer and encouraging answer and frankly, the right answer. however, on the testing which you rightly said is the big

disaster of all this, he completely dodged the question and i'm afraid we still haven't had a good answer on that because it's been such a fiasco, such an example of bureaucratic bungling and it has really hampered all our efforts and it will also hamper the efforts to open up the economy if you can't get that testing right. let's just look at the timetable, okay. back in january, early days of january, the chinese regime published the genetic information about the virus. days later, the germans produced a test. that's adopted by the world health organization. early january. our cdc doesn't publish its test until february 6th, weeks later. that test from the cdc is then put out there. within days, it's shown to be defective. so on february 12th, they recall the test. instead of at that point saying look, our test didn't work, let's use one of these other ones around the world, by now the australians have one as well, let's use their test, they

continued to bungle and it's not until the end of february that the president comes in and says look, can we get rid of all the rules from the fda, that are stopping the private sector. that still doesn't explain why the cdc held up as this great example of public health management, waited so long to get a test out there and when it did get out there, it was no good. there's been no accountability for that and we need to hear it. stuart: and yet, the president's approval rating is up and -- that's his approval rating overall, and his approval rating as to how he's handling the virus, that is up as well. it seems like the public, the voting public, is looking beyond the mistakes made in the early days of testing and looking towards more our president suggesting hey, there's some hope here, we might be able to open up some areas to business and getting back to work, so it seems like voters are taking a

positive response to the president. is that what you're seeing? >> yes. and actually, those two points i just made, they go together, in fact, because it was when the president really stepped in and took leadership over this crisis that you saw, a, the problems with the testing very rapidly resolved. it was the president saying please, can we sort out this testing mess quickly. that's what removed all the obtobt obstacles to developing the new test. when the president was out there front and center leading the response, the country can see that and they are responding to his leadership and he continues to do that. i think it's very impressive the way he is being so transparent about the process and showing this complex question isn't as simple as just saying we will do whatever the doctors say. that's not realistic in government. i have worked in government. you have lots of input into the policy making process, economic, social as well as public health, and he's putting that on display in a very transparent manner. of course, there are natural tensions between those

objectives. that's the real world. he's leading the american people in a very transparent way here and that's why i think he's getting such high approval for it. stuart: last one, steve. what was your reaction when you heard early this morning that boris johnson had tested positive? i tell you what, my response was if he can get it and prince charles can get it, anybody can get it. how about you? >> that's exactly right. it shows that this virus doesn't respect any boundaries of any kind, class or status or global as we have seen. look, i think he seems to be a healthy person, generally. i think he will be okay. signs are that the symptoms are mild and we've got to remember that over 85% or so of people who catch the virus will have in the words of the health experts, mild or no symptoms. so actually, if he and prince charles quickly recover, i think that sends out a positive message to the rest of the world that you can catch this, we

don't want you to catch it but if you do, most people will have a pretty mild or no symptoms experienced. so we'll see what happens, as the president likes to say, but we all wish boris johnson well and prince charles, of course. stuart: yes, we do indeed. steve hilton, hunker down, wherever you are. observe those social distance rules. we are 1,000 miles apart. i think we should keep it like that. you're all right. we will be watching your show this weekend. thank you, steve. edward lawrence, come in, please, from washington, d.c. you've got news on the cdc and truck drivers. tell me. reporter: new guidelines for truck drivers going in and out of new york city. new york city has about ten times the cases of any other state. so the cdc is now saying truck drivers should stay in their cabs whenever possible when going into new york city to deliver supplies. if they have to get out of their cab, strictly enforce that six-foot rule. stay away from folks who are loading and unloading.

also, the cdc recommended going away from paper receipts, going towards electronic receipts so therefore, the surfaces that other people touch are not in those truck drivers' hands and the truck drivers could then take that to another part of the country. also, if a truck driver has to stay in new york city for the night, the cdc recommending that those truck drivers sleep in a hotel room or in the cab and avoid talking with other people and being around other people. back to you. stuart: fascinating. but you know what, it all makes sense. it makes a lot of sense when you've got new york as the epicenter. thank you. let's go to ash. you've got news from the mayor of new york, bill deblasio. ashley: he was on "good morning america" giving an update on what's going on in new york city. he had some rather grim predictions. he said people in new york city should be ready for the city to stay closed throughout may. we are talking at least two more months from now. he also predicted that 50% of

the city's 8.6 million population will become infected, a very high number. he says help needs to keep coming from the federal government, the trump administration. he says in 24 hours between wednesday and yesterday, 177 people died in new york city hospitals alone. some pretty grim statistics and outlooks from the mayor of new york. stuart: i tell you what, when he says new york city might stay shut down and closed until the end of may, makes me realize that i'm going to be broadcasting from a very different place for a long time to come. houfsh however, i digress. any news on when that hospital ship arrives in new york? ashley: it will be arriving on monday. it leaves norfolk, the naval station at norfolk in virginia on saturday. president trump said he's going to go down there. he says i'm going to go out and kiss it good-bye and i will be there with everyone waving

together. it's going to be loaded with medical supplies. it's a floating hospital. it will come to new york harbor but it will not be taking coronavirus patients. it has 1,000 beds that will provide space for overflow from hospitals for all the other ailments they may be suffering from, in order to clear more beds in the hospitals here on the island of manhattan for the coronavirus patients. so that navy ship, very very important to help relieve the pressure on the hospitals in manhattan. stuart: okay. so what we are going to see in just a moment is the u.s. navy hospital ship the "mercy." it will be arriving momentarily. i think that's it on your screen. don't get seasick watching that video. it's all over the place. it will be arriving in los angeles shortly. that's what's going on with that other hospital ship that will be docked on the west coast. the other one is coming here to new york.

that will be here by monday, we are told by ashley. one more thing about new york. an update on the new york police department, please. ashley: couple of things. they had their first member die. he worked at one pp, one police plaza in manhattan. he was a custodial assistant. the commissioner putting out a tweet saying we have lost one of our own. he said this individual when hurricane sandy struck worked 17 days straight and since the coronavirus has struck, he kept the nypd safe. by the way, we have had 500 more police officers call out sick. that means the nypd is down 11% of the total. 2563 officers called out sick yesterday. almost 11% of detectives, 2500 of those were uniformed officers. so certainly having an impact on the nypd who say we can still

cover, we've got people to back up these open positions right now, but there's no doubt that it is taking a toll on the ranks. stuart: ashley, this is a dramatic impact on new york city, especially if it stays shut down, closed down, through the end of may. that's two months away. that's an extraordinary thing. thanks very much indeed. moving on to susan. what do you have on the big banks? susan: they are falling in the session. looks like they are keeping their head count because remember the last financial crisis we went through, it was characterized as some of the iconic images were of bank employees holding their boxes, walking outside the office of bear stearns and lehman. this time they say no one has any fear of losing their job. gorman saying all jobs are safe, at least for now. this is in contrast to industries like the airlines and

cruise lines, we talked about hotels, restaurants, that have been laying off workers. stuart: thank you, susan. just a brief note. the market has come back a little. when we started the interview with vice president pence, the dow was down 850 points. a few minutes later, as of now, we are down 620 points. i'm not so sure the vice president had any impact on the market but he did say we would be opening up on a timetable, when we get data from local areas. that's when we can start to open up the economy in some parts of the country. i think the market probably liked to hear that. also, we are coming to the end of the 15-day period with the advisory from the president. that expires on monday. then we will get fresh guidance on how to behave after that. maybe that helped the market, i'm not sure, but that's what the vice president had to say. now, more news on the cheesecake factory, restaurant.

lauren, what do you have? lauren: they already said they can't make april rent. now 41,000 of their workers, almost all of them, are being furloughed, no pay. they get benefits until june and they get one free meal a day. that's tough for those workers and their families. stock down 10%. stuart: yes indeed. that is tough indeed. thank you. market watcher brian nick is with us. brian, have we seen the bottom of this market? we have had a terrific rally, 20% up in three days, a little downside now. do you think we are going to go back and test that low, 18,000 on the dow? >> i think we're in the process of seeing a bottoming. it's been extraordinarily rapid, obviously, five weeks ago we were at all-time high. but the top to bottom move we have seen, about 35% in total, is consistent with the moderate to severe recession which is what we are about to enter if we are not in already. the question is we think a lot

of the panic selling that drove stock down rapidly is likely behind us because that sort of tends to be a one-time event that washes out a lot of money that needs to come out quickly. the question will be how long this lasts. the markets were cheered this week by the liquidity provided by the central bank but also by the fiscal stimulus which seems to be up to the challenge of the moment. question is, if we are still here in june, july, august, and the economy hasn't returned to anything resembling normal, the impact on earnings and investor risk appetite is going to be severe beyond what the market's currently priced in. right now, we don't think valuations are likely to fall, we don't think necessarily there's going to be another kind of flight out of stocks beyond what we have seen. we should be trying to find a bottom but the longer this lasts, the less adequate the stimulus measures that we have already seen are going to be seen as being for the market. stuart: i can see your point there. thank you very much indeed. next case, some auto makers are considering a comeback. that would be the factories, i presume. as early as april. grady trimble, you are in

chicago. is a comeback in april to the factories, auto factories, realistic? reporter: well, that's what they are saying. it's something the president has said, he wants to see things back up and running with the economy by mid-april. that's what ford and fiat chrysler are saying. they want to restart factories, at least some of their factories, by april 14th. we should say this is a suspension or delay of their original planned suspension. they said things would be closed through the end of march. now they pushed it back. but some analysts are surprised that they even picked a date. they think that's quite optimistic and they think it's something that's not set in stone. general motors, by the way, not picking a date, just saying things are unclear at the end of march. we will see what we will do after that. i do want to draw your attention as we speak about general motors to a tweet from the president just moments ago. we have been talking a lot about how ford and gm are helping by making ventilators. well, the president doesn't seem too pleased with gm. he says as usual, with this

general motors, things just never seem to work out. they said they were going to give us 40,000 much-needed ventilators very quickly, in quotes. now they are saying it will only be 6,000 in late april and they want top dollar. always a mess with mary b, referring to mary barra, the ceo of general motors. so that's been a question all along, as these ventilators are in short supply and needed now, can we wait for them and according to the president's tweet there, it seems like it might take some time for general motors to crank the production up of these ventilators and as he's indicating, they might not be ready in the timeline that he was hoping for and it might be in far fewer numbers. i have reached out to general motors. i will let you know what they say. stuart: that was quite some tweet from the president. we just had it right there. grady, thanks very much indeed. come in, john samuelson, transportation workers union international leader.

john, thanks for joining us. we've got a lot of news about trucking recently. i want to know how you feel about sending your workers into new york city, truck drivers. the cdc just said hey, don't get out of the cab, don't use paper, don't use paper forms, use electronics. what do you make of this? >> first of all, we don't represent the truckers that are coming into new york city. we represent almost every other transport sector besides trucking but with that said, i certainly agree that workers across every transport sector should take every precaution possible against covid-19. stuart: are you satisfied with the assistance that you're getting for your members going to work as transportation workers? >> i think that there's no even application of safety protocols across the board. for instance, in the new york

city subway and bus system, today was the first day that proper protective equipment by way of masks are going to be issued and it was just a couple -- a short couple weeks ago that transit workers were in a fight with the mta in new york regarding masks and whether or not masks were appropriate to wear at all. and the logic of the workers prevailed and two weeks ago, we were able to wear masks, we won that fight with the company, but now today the company is actually issuing masks. in other cities, it's not quite so sophisticated. other cities' workers are sort of left to fend for themselves against covid-19. stuart: okay. you guys are right on the front lines and we sympathize with you. we would love to give you all the help you can possibly get. john samuelson, thanks for joining us. we do appreciate it. we've got to take a short break. we'll be back after this. sure, principal is a financial company.

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stuart: all right. i want to repeat the rather scathing presidential tweet that we received about general motors. i will read it to you. here we go. general motors must immediately open their stupidly abandoned lordstown plant in ohio or some

other plant and start making ventilators now. several exclamation points. ford, get going on ventilators fast. okay. that was the second tweet which was lambasting general motors and the auto industry about their tardiness in getting these ventilators produced and in people's hands. that was a scathing tweet, two of them, actually, from the president. now we have, i want to show you that video again of the "mercy." that is the navy hospital ship, one of the two navy hospital ships which were deployed to help out here in the united states. that is the "mercy." that's the port of los angeles. the hospital ship just docking there. we are expecting to hear from both governor newsom and the mayor of los angeles, eric garcetti, later. when that happens, you will see what they have got to say. but the hospital ship docked in los angeles. now we have with us susan, come

in, please. susan, you have news on what? susan: airlines. let's talk about airlines. we have been trying to run this video of all these parked airplanes in virtually every airport across this country, why, because no one's flying. capacity in traffic has been cut. traffic has been cut by 70% to 80% in some instances. there you go. isn't that dramatic right there? most of these big airlines across the u.s. have cut capacity by at least 70%. that's the case when it comes to american airlines, delta has cut by 70%, right now united is holding at 50% and this goes to show that you will expect a lot of layoffs, especially those being impacted by this and that's why they need $26 billion right now by the government. wow. this is dramatic. don't you think? stuart: susan, thank you very much indeed. that was remarkable video of the -- like an airline boneyard. that's an aircraft parking lot the size of which we have never seen before. marc tepper is with us, stock

market guy. welcome to the program. i'm aware you say the reaction to those jobless numbers, okay, i see you, the jobless numbers, 3.2 million new jobless claims, the market reacted with a nice rally. you like that reaction on the market. now, what happens when we get more bad news in april? do you think the market will respond again with a rally? >> yeah, so look, i was really impressed with the market's reaction yesterday to some awful economic data, 3.3-ish million initial jobless claims. it's a record. we're not out of the woods, though, right. the market shrugged it off and continued to move higher. under the surface, though, it didn't look as good. so when you look at the leaders from yesterday, those are some of the worst performing, most oversold stocks and that's just not what you want to see. like you said, stuart, more bad data is on the way. we are going to see more bad data over the course of the next several weeks, maybe months. and if you think of it this way, there's 13 million hospitality

employees alone. they are all going to be unemployed and this week's number was only three million. so what we need to really pay attention to is we are closely watching how the market reacts to bad data that's going to continue to come out over the next several weeks. when it shrugs off bad news and quality companies lead, that's really what we need to see to believe we are at a point where the upside potential outweighs the downside risk. look, things are looking less bad, there is certainly hope for small businesses which employ 50% of the private sector. you know the old saying give a man a fish, you feed him for a day. teach him to fish and you feed him for a lifetime. i feel like the $3,000 or so that's being given to families is good, but it's a short-term band-aid. what really matters is helping those small business owners keep all their people on payroll. that's going to help feed people for a long time. that's really the key to this and that's what's fwogoing to h us over the course of the next several months. stuart: i have seen your list of

companies that you think are good buys right now. i'm just going to pick out two of them. striker, which i believe is a medical device company, and microsoft. make the case for both of them to buy now. >> two completely different situations. with striker, what you had is a company that has been unfairly punished. it is underperformed the s&p since the february highs, right. when you look at a company like striker, i mean, they are involved in a lot of orthopedic kind of operations and procedures. when you look at all of those elective procedures, they are being postponed, not canceled. so for striker, there is no demand destruction. it's just a timing event. so they have been beaten up. i see a good opportunity there because if you need a new knee, you're not going to go and get one this week but you will still get it toward the end of the year. that demand hasn't been destroyed. for microsoft, look, there's going to be this move towards working virtually, right, even

after the crisis. they are the leader when it comes to virtual work space. you got office 365, microsoft teams for collaborating, their cloud solutions are going to be even more important. that's a great name to own in the new normal. stuart: all right. marc, we appreciate you being with us today under difficult circumstances. hunker down, young man. we will get through this thing. >> thanks, stuart. stuart: thanks very much. okay. remember bill ackman? a very prominent wall street guy. he said hell is coming. that did help send the market down, if you remember rightly, it sent the market down. was he talking his own book? had he bet against the market? so he comes out with that statement hell is coming, forces the market down and makes a profit? jonathan morris is here and i ask the moral question here, is it right to profit from forecasting the demise of the

market and profiting from it? what's the morality of that? >> first of all, hedge fund managers and money managers of all types play a crucial role i think in our financial world and that is totally fine. even shorting on stocks, i have no problem with that. but when you in this case, he shorted $2 billion and then he went on television and spent a half hour saying hell is coming, and even went as far as to say for example, hospitality stocks were going to go down, hotels were going to go down to zero. it turns out he had hedged his bet on those stocks. then he came out making $2.6 billion. and this is the time of national crisis. we complain about our politicians and rightly so when they are putting pork into these bills, but how about these unscrupulous hedge fund guys who are saying i'm going to bet that the market is going to go down, then i'm going to go on

television, i'm going to say it's happening right now, and making a profit off it. it's disgusting. stuart: all right. i'm going to, jonathan, i'm going to leave it right there. strong stuff. we appreciate your emotion of the moment. jonathan morris, everybody. we are going to take another commercial break with the dow down 700. we'll be right back.

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stuart: i want to bring in jeff flock. he's at the united center in chicago. jeff, are they turning it into a virus relief center? tell me more. reporter: they say they are going to make it a staging area, that's the united center back here behind me, stuart. typically home to the bulls and blackhawks and concerts. they say they are going to make it a staging area for first responders and a repository of equipment but there's absolutely no evidence of any of that taking place yet. we talked to some folks on the loading dock who said yeah,

nothing yet. so you know, the mayor yesterday -- and this would be similar, by the way, to what they have done in new york by taking over the javits center and turning that into a hospital. this wouldn't be a hospital. over at mccormick place, the other convention center in chicago, that is the thought of that is to be turned into a hospital. no movement there, either. tell you what they have done, though. you talk about the mayor yesterday, what she did is kind of really lost it a little bit and said people got to stay off the streets, got to stay out of the parks. what they've done is shut down all the parks, playgrounds, lakefront, you know, all the trails, the places where people go, she said she doesn't even want people out running and she said if you violate this, you are going to get a warning once. they were saying three warnings. well, now one warning, then you will either be cited or if you don't comply, you will be arrested. i'm sure the police don't want to do that, you know, if it comes to that. but that's what they say they will do. they say they just don't want

things to get as bad as it is in new york right now. but you know, that's where we are. stuart? stuart: well, fps dra koit's dr will certainly say that. jeff flock in the middle of that and outdoors. thanks very much indeed. let's change the subject completely. special guest joining us now, dave portnoy, barstool sports founder. welcome back to the show. i've got this news on major league baseball, maybe spring training begins again in mid-may and they will get part of the season in. i don't know why you are laughing. >> well, i'm laughing because it's insulting because i'm day tr moved it to the stock market. but anyway, baseball, i mean, we lost out on march madness so now it's all just i'm numb to it all. i'm not expecting anything. it doesn't feel like baseball's supposed to be starting so postponing it does nothing to me because once you took away march madness, i just became dead inside.

stuart: i believe that you've gone to pizza reviews from home. in fact, what you're doing is frozen pizza reviews, right? >> that's right. i'm doing frozen pizza reviews. i got every frozen pizza company in the world sending me frozen pizza now to review. you got to adapt, got to change, got to do this, got to do that. like i said, i thought i was going to be on here to talk about my stocks. i didn't know we were going to talk about major league baseball. stuart: hey, i can do you stock. tell me, what are you buying? what are you trading? >> so here's what i did, stuart. i bought a ton of lululemon, $3 million worth of lululemon, and held it after the bell and got my shirt taken from me. so that's what i did yesterday, it didn't work out but we are making a little comeback. this is better than gambling. i have been watching you all day for advice. stuart: hey, look, stop confusing gambling with

investing. in gambling, you roll the dice and you could lose it all. investing, you don't lose it all. you might lose some and you might gain a lot but you don't lose it all. you got me? >> well, day trading. i'm day trading. that's a little different. i get the long term but i'm slinging it around right now. stuart: you are throwing around $3 million and putting it into lululemon? that's quite something there. you've got a lot of money there, portnoy. >> oh, no, i'm loaded. at least i was before the market crashed. stuart: now then, there's a delay on this. i'm very sorry about that. i understand that you've been watching my show and recently, we had scott shellady on the show and he wears a special jacket, it's called his cow jacket, and you said who the "f" is this guy. well, it just so happens scott shellady is on the phone right now. would you like to say anything

to scott shellady? what have you got to say to him? >> well, as i said, stuart, i was watching your show for stock advice and i'm slinging big money around and then you got a guy with a cow jacket. how am i supposed to trust a guy wearing a cow jacket? stuart: okay. scott shellady is with us, he's on the phone. scott. respond to portnoy. on the phone: that's fantastic. the cow jacket emanates from the pits in chicago. it's got a 50-year history and i have been doing it for 32 years so there's a little bit of trust there. what i do want to thank you for, david, is the fact my twitter absolutely blew up, lot of great comments, lot of bad comments but i have to tell you, the best comment was is that the john daily of stock investing which i really got a kick out of. that was pretty funny. >> that's a good comment. stuart: scott, thanks for taking it so well. you're a good man.

i don't care what they say. you are a good man and that's a fact. on the phone: all right. all right. stuart: portnoy, you got any complaints, i like to work that in. great pleasure having you back on the show. one of these days we will sit down and share a slice of pizza. we will see if we can do that. thanks very much. we will be back, take a break. back after this. ta-da!

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stuart: first thing this morning, we got the rather shocking news that boris johnson, prime minister of england, had tested positive. that followed prince charles testing positive. ashley, any news on the queen? she's 93. ashley: she is indeed. she is apparently coronavirus-free, doing fine, but staying a good social distance from everyone else. but we have heard that the queen's birthday parade, also known as trooping the color, will not go ahead in its quote, practi traditional form. you have all those soldiers marching close to each other. i'm sure maybe they will march a lot further apart or just not march at all. that's the latest from buckingham palace. stuart: so it's come to this. soldiers stretched apart.

goodness me. come in, lauren. i hear there's problems with easter candy called peeps. tell me. lauren: i know. the factory that makes them in pennsylvania, they shut two of their factories until april 7th. so they have five days to get peeps out to stores but i keep thinking about easter. will we spend easter sunday with our extended family as we all deal with this coronavirus crisis? i don't know. if you do like peeps and you like them especially this time of year, the good news is they have already been shipped to stores so there shouldn't be a shortage of peeps for easter. however you spend your easter. stuart: lauren, you raise an interesting point. easter is, what, two weeks away, roughly speaking, roughly two weeks away. it's a time when you do get together with your family but this year, if there's lockdown and the stay-at-home order stays in place, we'll be spending it separated out. it will be a most unusual and

most different easter, i think. lauren: to be honest with you, i was coming into new york city every day and i live in new jersey, and now i'm home in new jersey because i was thinking about easter and every day going to new york city i'm exposing myself and my family to coronavirus, and i want to be able to have my parents and my in-laws and cousins and everybody over. i don't know if that's possible, likely not, but this is what a lot of families are thinking about now. when's the next time we can all see each other because we are under quarantine. stuart: yeah. could be july 4th. anyway, i want to show our viewers what we are going to call a family photo. this is how we get together virtually to produce and create this program. we use zoom. that's our team, all getting together on zoom. we can all communicate with each other without actually touching or seeing each other

face-to-face. that's the production team that brings you this program every single day. i want to thank each and every one of them for doing what they do so well. it's not easy. we are all isolated out. we are all cut off from friends, family and colleagues. but we are doing it. we are putting the show on the air. this is our fifth day of doing it outside the new york studio and i think it's going well. do we see the control room? thanks to the control room as well. they are in my ear saying what about the control room. the control room is doing a great job. we really appreciate it all. don't we, ash? don't we, lauren? ashley: yes, we do. stuart: yes, we do. ashley: every day. lauren: that was so beautiful. stuart: sorry, got to go. got to go. got to take this break. it's difficult with this delay but we got a delay and we will deal with it. we will take a break and be back after this. u can find yourself heading in a new direction. but when you're with fidelity,

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stuart: earlier we were talking about bill, wall street guy who said hell is coming. in an interview last night, he denied talking down the market in order to make a profit. there you have it, and into a tumultuous week. it's an honor and a privilege to sit here and relate the news at a time like this. we are glad to do it and we hope you like the product. new york it is yours. neil: thank you very much stuart, we are following up everything you are following including some reaction to your

chat with the vice president of the united states. the market takes away, the dow soared 862 points, there's a lot of reasons for this, it can be a reaction after the enormous run of one of the big enter biggest three-day run above the better part of seven years, it's time to calm down a little bit. we have bear market rallies that occur in a lot of time when they do occur, they are unwound by the bear market territory, not all the time, it just