you have to make contact with the bank, explain your situation, probably present some documents, fill out some forms, but then you get some breathing room. now, these deferred payments go back to the loan and you will have to pay them later, but breathing room is very important right now. cheryl: ashley webster, thank you so much. that's it for "making money." "the claman countdown" starts right now. cheryl: i'm cheryl casone in for liz claman. liz is working from home under self-quarantine. she is going to join us in just a minute. markets are selling off, one day after the dow made a successful exit from the bear market in record time, but investors hitting the sell button after the greatest three-day rally in almost 90 years. we closed that one out yesterday on "the claman countdown." now we are looking at some red arrows but remember, we are up about 14% for the week. take a look at those numbers.

the dow is down 538, s&p, nasdaq red as well. now, right now, i want to show you live pictures of the white house. we have just been told that we are going to be waiting for the president to sign the $2 trillion coronavirus stimulus package, the house just passed that about an hour ago. liz is going to have some info on some of the beaten-down businesses left out of the massive rescue plan. we are watching the white house. we are going to bring you that event when it starts live right here on fox business. and the work and learn from home culture gets off the ground. there is one company that's working to get your business set up for this new reality. we have got a fox business exclusive with the ceo of avaya and the remote work solutions it's been using from wuhan to italy to here at home. plus avoiding the doctor's office is a big priority as the u.s. becomes the epicenter of the covid-19 pandemic.

a company delivers telehealth services to doctors and patients, they do all of this remotely. its ceo will be on this program exclusively. that is coming up. let's start with the breaking news right now. we are learning that walmart is going to offer customers no contact services for payment, for pickup or for delivery. this is interesting. we have kind of seen this start to show up in some small industries. the retail giant going to have shoppers scan a qr code with their phone, then pay through the walmart app. that will conform obviously with social distancing standards to try and slow the spread of the coronavirus. also let's talk about lululemon. they beat fourth quarter earnings estimates but did not give an outlook for 2020 due to the coronavirus. probably not a big surprise, folks. viacom cbs, moulson coors had to withdraw their guidance. haven't even gotten ready to talk about earnings season. i'm not there yet.

i'm going to hold off. let's talk about build-a-bear workshop. they are furloughing over 90% of their work force. cheesecake factory furloughing 41,000 hourly restaurant workers. tesla is going to slash on-site staff at its nevada factory by 75%. there are those stocks all in the red today. cuts happening there. then general motors says salaried employees are going to have 20% of their cash compensation deferred, just deferred, not cut, and that is a bid to cut costs for that company. let's talk about smile direct club. they are actually getting a pop. the teeth aligning company said they have started 3d printing, this is cool, of medical grade face shields that would be used by health care workers. and they are working on printing reusable respirator face masks. you know, liz claman talked about that yesterday, how 3d printing can actually really change the medical landscape. anyway, that stock is up about almost 19% right now. that's one to watch into the close.

we've got 57 minutes to go. anything can happen. u.s. markets snapping their three-day win streak over mounting fears of the coronavirus's economic impact. there is concern about the federal reserve's balance sheet. it surpassed $5 trillion in assets for the first time this week and the fed bought up bonds and they extended loans to banks, funds and other central banks to backstop the u.s. economy. the fed has been behind the scenes all week, we should say. now, following the markets lower today, gold actually pulled back a little bit. still, though, it saw its biggest weekly gain in more than 11 years, believe it or not. that safety play of gold, lot of folks like to own gold, it makes them feel good. fueling gold's rally is a weaker u.s. dollar. the dollar falling more than 3% this week. that's its largest weekly decline since may of 2009. by the way, this rally, 4.1% last week. the name of the game is volatility for the dollar as well. let's bring in phil flynn. he's going to be joining us via

skype. we are going to the weekend on i guess a negative note, especially when it comes to oil. consumer confidence, three-year low. for the markets, phil, can we just talk about cheap gas prices? i mean, the silver lining is with this oil disaster. >> right. cheryl: down to two bucks and something right now. >> it is and it's going to be lower than that in some places. in fact, believe it or not, when you adjust for inflation, the prices you are going to pay for gasoline are going to be the cheapest you have ever paid, even cheaper than world war i. the only negative part about that is there's nowhere to go. people are locked up at home, quarantining, there's no demand. you definitely have this balance. on one hand for people who can drive and businesses that need to use gasoline, this is great news. low prices. the sad part about it is the reason we are seeing these prices, people are locked in at home. one of the pains we saw today was in the u.s. oil rig count, because of the drop in demand,

we have the rigs in the united states drop by 40 rigs. that's the worst drop since the last time oil prices crashed back in 2016. some good news and bad news but if you can get out, fill up your gas tank because it's cheap. cheryl: how long do you think these prices will last? >> not that long. i'm a big believer that what we are seeing here is very close theto a bomenttom. if you look at the futures market, they are already telling you prices a few months from now will get a lot higher. why? because you have $2.2 trillion of stimulus, you have the federal reserve going qe madness and if you look at that, that's going to really stimulate the economy a few months from now. even if you look at the price of oil and gasoline in the current months, they look terrible like they are going to go down forever. but you go out just a few months to august, for example, the price of crude is like $10 higher. the price of gasoline is substantially higher.

so what the market is telling you is that things are bad right now for the u.s. energy industry but they could turn in a few months. i'm just afraid that when it turns, it's because a lot of oil producers had to cut back and lay people off. cheryl: real quick, we did not hear anything this morning from kind of disappointing and no talk about the saudis and russians. we need to hear something, last word. >> yeah, they are playing really tough. the saudis and the russians, it's like a real war, not an oil war. they're not talking yet but they are getting a lot of pressure from the u.s. senate. the u.s. senate saying you got to quit doing this to the global market. they better get a deal or they will feel the weight of the u.s. government come down on them. cheryl: and president trump, to be clear. phil flynn, thank you very much. while we wait for president trump to put his john hancock on that $2.2 trillion stimulus package, that's going to, we are now being told, 4:00 p.m. eastern time. so 53 minutes to go. but there are some companies

that are left on the outside looking in when it comes to this stimulus package. liz claman is live under quarantine. she's got details on which companies are going to be left out. liz? liz: well, cheryl, we are talking about the exact language that is in the senate bill for the stimulus plan that so many businesses are desperate to get ahold of. here's the language. i'm going to outline it for you because it is very specific about which companies can access the lifeline of money. all right. and which might not. for example, you talk about the nearly 900-page deal that the house still obviously needs to approve here, at least get through, but the eligible loans, $500 billion worth, can only go to companies that are actually domiciled and incorporated here in the united states. that means they've got to be located as far as the big headquarters are concerned right here in america. now, that requirement has shut out one of the most badly hit

industries and that would be the cruise lines. let me start off with carnival cruise. carnival cruise is the parent of princess and we know about diamond and the grand princess, the ones that originally had been very problematic because of all the issues with the spreading of the virus among people, but president trump has said he would very much like to help the cruise lines, but he said, and it is pretty rational, really hard to use u.s. taxpayer money that's in this stimulus to bail out companies or to give them loans when they're not really american and the problem with carnival which seems all american, does it not, is that it is headquartered in panama. panama. now, what does that mean? that means that while yes, they have a lot of employees and they work at the princess cruise line and those were the two cruise ships, the grand and of course, the diamond, that had really become very fertile ground for the virus to spread, that issue becomes a no-go for carnival.

things may change but as of right now, no. norwegian cruise line is in the same situation. it is headquartered in bermuda. a majority of most cruise lines, all of them, they employ people outside of the u.s. that would be mostly indonesia and the philippines. those are where many of -- doesn't mean they don't have employees who are from the united states, but most of those cruise ships have workers who are from out of there and not american and one of the caveats is that any company that's going to get the loans must employ, as far as most of their work force, americans, people here in the u.s. now, royal caribbean for its part is domiciled in liberia. yet these companies, i do want to point out, pay their docking fees when they are here in new york or when they come into florida, but the money overall has clearly, this is the $500 billion, clearly earmarked for u.s. businesses, both large and small, and the cruise industry

has said it is not asking for any kind of bailout. they are simply asking for loan guarantees. now, what about companies that majority shareholders are outside the u.s.? i just got off the phone with the ceo of amc entertainment. amc, 50% of its shares are owned by chinese entertainment giant wanda. he told me they have a much better chance at accessing the government aid that is in the $500 billion plan. what he told me is that yes, wanda owns 50% of the shares but remember, its 634 movie theaters have been shuttered for more than a week, the ones here in the united states. they have 1,000 total but here in the u.s. and canada. the fact that every movie that is supposed to be released this week and last week, whether it was the james bond movie or mulan live action or the fast & furious installment, f9, they wouldn't even be on the screen.

they have been pushed out. so all these, you know, employees have been furloughed and then just two days ago, amc had to furlough 600 corporate workers. but what's important to note here is that amc is incorporated in delaware and domiciled or headquartered in kansas city. they list on the new york stock exchange and when i asked the ceo, he told me quote, we are very much a u.s. company, we are incorporated in delaware, domiciled in kansas city, we trade on the nyse, we have 27,000 american workers and yes, we are a u.s. company that happens to have a foreign company own 50% of our shares. when i asked whether amc would be asking for a loan or loan guarantee, he said liz, we will take either. but what's important i think to note here is that amc is making its case, still not in the clear at the moment, but he told us

exclusively they look like they should absolutely be able to get a loan guarantee. coming up in just a few minutes, i'm going to talk about the badly wounded retail sector. some of these chains. it looks like the ratings agencies, it's not their business to have a heart, they are pulling out their hammers and hammering away. cheryl: amen to that. liz claman, thank you very much for that incredible reporting. we will see you of course at the bottom of the hour. liz claman from her self-quarantine at her home. well, we want to talk about household products. this is procter & gamble, folks, one of two dow 30 stocks in the green this hour. they got a buy upgrade. the stock is up almost 6%. and as boeing's recent winning streak comes the an end, treasury secretary steve mnuchin told maria bartiromo this morning the aviation giant has not asked and is not planning to tap the $58 billion in stimulus funds set aside for aviation.

take a look at shares of boeing. as you can imagine, we have a selloff across the board. dow down 445 as boeing is a piece of the dow 30, down more than 8%. from one hot zone to another. coming up next, we will talk to the california-based company that's helping to keep hospitals and schools online in the birthplace of the virus, wuhan, china and in devastated italy. "the claman countdown" coming right back. ♪ 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. ♪

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cheryl: competitors are teaming up. microsoft teams and slack users are soon going to be able to make cross-platform calls without leaving the apps. the need for a virtual substitute for in-person conferences has spiked sharply when people began to work from home due to the coronavirus. avaya is also another player that provides video conferences and telecommunications gear and has donated video conferencing sle solutions to places stricken hardest by the virus including wuhan, china and italy. joining us to discuss, the avaya ceo. good to have you here, jim. >> thank you for having me. cheryl: you know, i'm curious, we have seen this huge movement

on to zoom now, you know. i'm wondering if these networks are going to start to get overloaded. >> first, i really want to express my thoughts and prayers to all those that are battling this virus and my gratitude to those on the front lines. we remain pretty consistent in our approach as to the welfare of our employees as well as doing everything we can in a positive perspective to support both our customers, partners and communities. avaya is the largest communication collaboration company in the world. we serve over 180 countries. we have well over 100,000 customers including 90% of the fortune 100. we are a cloud company and let me give you a few examples. in mid-january, as early as mid-january, in china, we donated our own video collaboration technology which we call spaces to hospitals for two significant reasons. one is to allow for remote

medical consultations and secondly, to enable patients inside of the isolation zone to remain in contact with their loved ones. just think about this today, especially with the shortage of ppes. every doctor after they visited every patient, need to change. when the doctor can consult with their patients, they don't need to change appear look at the positive impact that would have -- cheryl: just to be clear, just to be clear, these solutions, medical facilities, doctors, hospitals are literally talking to each other around the world using your platform to share information and that would make sense with wuhan and italy obviously being two places that you helped. what about here, though, in the united states? the virus is moving around globally, now it's here in new york. is your software, your solution, being used here in the united states now? >> it is. it is indeed. in fact, just today, we donated

[ inaudible ] which is really a video service in a box to new york university hospital. we plan on doing that to each of the hospitals in the major cities that are now hot zones. cheryl: nyu. they are one, yeah, they are dealing with a lot of cases, i know. i'm curious, though, we are in extraordinary times right now. like i said, my 81-year-old stepfather, who is turning 81 tomorrow, actually, he's on facetime, on zoom. who would have thought this was the new normal but is this going to be the new normal, do you think, for hospitals, for people, for businesses, once this crisis is passed? >> i absolutely believe it is. let me give you an example. another part of our technology is really enabling contact centers, having their workers be able to work remotely. in just the last few weeks, we have donated more than 300,000 licenses to our customers so they can enable their work force to work from home. three examples. even in our own u.s. house of representatives, we set up

emergency conferencing capabilities such that they could talk to one another. you take a look at major health providers with millions of customers. 21,000 of their contact center agents have the capability to work from home. in the state of washington, we set up an emergency contact center in a matter of hours at the start of the crisis. the point here is how we work is going to fundamentally change, really more to a work from anywhere model and i honestly believe that will be the norm. today, only 3% or 4% of employees work from home. studies suggest that's going to grow to 25% or 30% in the next couple years. cheryl: it's a high amount right now. again, i think this is going to change all of our lives forever, how we interact with each other and work together. jim, thank you very much for joining us. remotely, obviously. >> thank you. cheryl: certainly glad to hear doctors are communicating more and more around the world. this is a tough time for the

world. we have pulled back off the session lows. we are now down only 400. as liz always says, anything can happen, as you look at 38 minutes to go until that bell rings. we still have the bell although we don't have physical traders on the floor of the new york stock exchange as of this week. the stars are aligning today for constellation brands, actually. suntrust robinson just upgraded the corona beer maker to a buy. get it, corona beer, coronavirus? so far, there's no widespread guilt by association with the corona brand. constellation says there's a 5% pop in sales in february of the now unfortunately named beer. there's the stock right now, up more than 4%. if you are on facebook you know what i'm talking about. up next, telehealth looking to lighten the load for the front lines as coronavirus case numbers worsen worldwide. dr. chase feiger will be here. how his company is helping to

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cheryl: i tell you what, the roller coaster ride of these markets continues right now on your screen. take a look at the markets right now. we are coming back. we were down top of the hour, 600 points. now the dow is down 224. i just got to remind you, you are seeing red arrows on your screen but just keep in mind we had three straight days of gains. the dow actually came out of bear market territory, a new bull market started yesterday. we may hang on to that, folks. right now the dow is down 243, s&p down 16, nasdaq down 85. anything can happen in the next 32 minutes to go. we are also looking at the banks. some of the world's biggest banks are pledging to preserve jobs amid the coronavirus crisis. morgan stanley, citigroup, wells fargo reportedly are going to suspend all planned job cuts and trimming, any trimming in their work force is not going to

happen. other banks such as hsbc, lloyd's banking group and deutsche bank ag are also pledging to postpone any restructuring that would have eliminated tens of thousands of jobs in the coming years until after the pandemic fallout and of course, the global economy has stabilized. we hope that that happens very soon. there's morgan stanley. citigroup, they are lower. wells fargo higher by 1%. let's go to ashley webster for today's fox business brief. ashley: thank you, cheryl. toyota motors seeking a more than $9 billion loan from its creditors amid the coronavirus crisis. this as the japanese automaker says it will begin producing face masks in several of its u.s. locations. that will start next week. toyota also signing agreements to work with at least two companies that produce ventilators and respirators here in the u.s. meanwhile, target suspending all in-store returns for at least the next three weeks as a precautionary measure to help protect its workers. the discounter also temporarily

banning reusable bags but waiving all the fees associated with plastic and paper bags. and costco says it's going to cut its hours. the wholesaler now closing its store nightly at 6:30 p.m. the new schedule will not interfere with previously announced special shopping hours for senior citizens and special needs customers. coming up next, not all retail is created equal amid the outbreak. liz claman is keeping the score. "the claman countdown" is coming right back. can we go get some ice cream? alright, we gotta stop here first. ♪ ♪ from smarter atms, to after hours video tellers ♪ ♪ comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. hi there. how are you?

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going to be no involuntary furloughs through september 30th. this is united airlines in a memo to employees. they do say, though, that depressed demand could stretch into 2020, also big story here, they are going to be making some more capacity cuts. that means flight cuts, folks. and they are targeting may and june. so united airlines, the stock is down about 6.25% right now, as you can see, as we head into the close. the company does say that load factors are falling into the teens or single digits, even though they already cut capacity by 60%. we will keep watching united airlines. well, egg prices have tripled since march on surging demand but even with the surge of desperate shoppers amid the coronavirus pandemic, there's still a bunch of food shoppers that aren't quite desperate enough to buy some products still on grocery shelves. foods like chocolate hummus, brussels sprouts, cauliflower

crusts. i disagree with that. let's take a look at these stocks. we have been following these guys. taking a look at kroger, walmart, those stocks are in the green rgs targ green, target in the green, costco slightly lower, amazon slightly lower. not all retail is doing as well as the grocery stores we follow. let's go back to liz claman. she's under quarantine but you have more on that story for us? liz: yeah, obviously people are just not going to stores. but the first thing that many brick and mortar companies started to do a couple of weeks ago was figure out you know what, we have to either cut or we have to suspend the dividend because that actually means that they will be able to access cash that would have been paid out to shareholders. shareholders absolutely hate it when dividends are cut but the fact is these companies have to find cash somewhere until they can get that lifeline from the government. but i will tell you that gap had to actually suspend its

dividend. that was news that was already out there but as far as the ratings agencies go, it wasn't enough. moody's has downgraded gap's debt and macy's debt as well to junk status. what does that mean. that means that moody's actually believes that both of these retailers' balance sheets are in jeopardy here and it's very unfortunate because, you know, you want to see these great brands survive but the weakness in macy's credit profile, that's specifically what moody's had referenced, have left the company very vulnerable to any further problems when it comes to, of course, the coronavirus and the spread of the virus. these are unprecedented operating conditions that so many of these companies are dealing with and therefore, moody's says they cannot wait. here's part of the problem, of course. both of these companies have very good e-commerce sites that have been holding up well but it is definitely not enough to cover what would have been the foot traffic and the revenue that came from that foot traffic

into these brick and mortar stores, and therefore, it's just a whole host of chains, not just macy's and gap, who are definitely struggling right now, even if they cut their dividends or suspend them entirely. but with every yin, you know there is a yang and the big yang here is that brokerage jefferies has come out, this is how they put it, they are outright calling the video game store chain gamestop a covid-19 beneficiary and it is not just because this is a company that sells video games or the playstations that go with them or any of the other gaming equipment. they also sell equipment that so many people who are stuck working from home absolutely need. due to the coronavirus outbreak, so many people are working from home and that has boosted the products that are there at gamestop. talking about headphones, adapters, tablets, speakers,

cell phones. this is all for sale at gamestop right now, and they also have door delivery. i went on their website and saw that not only will you be able to go to their stores and pick them up right at the door but they will deliver at least to within your front door. so even though the stock is down, all of these stocks have gotten hammered, but there is at least a little bit of light at the end of that tunnel. right now, forget at the end of the tunnel, for gamestop. cheryl: which is a stock we had written off for dead so long ago because of everything going online and here they are again. you never know, right? liz claman, thank you. good to see you, as always. let's take a look at the big board right now. i know you're missing this right now. look at these numbers. this is definitely "the claman countdown" because you have got some wild swings in the markets. can't miss this show. there's always something going on in this hour. 20 minutes to go, we are down 547. remember, though, the dow at its lowest point today was down 1,082. so we cut that in half.

remember, again, the dow was up about 14% for the week so you know, keep this in perspective, folks. we had three days of gains. dow is out of bear market territory. coming up, america's biggest metro areas on lockdown to help flatten the curve but will president trump force these city gates to open sooner than planned? charlie breaks it next on "the claman countdown." flexshares may look simple on the outside. but inside every etf... there are untold hours of careful construction... infinite "what ifs?" and contingency plans. creating funds that help target gaps 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.

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package. fox business is going to have complete coverage at the top of the hour. that signing is going to be in the oval office. we are just reporting that now. the president putting pen to paper. he may not have given up on the idea of reopening the country, though, by easter. let's bring in charlie gasparino on that side of this. we should also say, charlie, let our viewers know that he does expect to be appearing at the coronavirus task force briefing in the briefing room at 5:00 p.m. which i think has become kind of must-watch tv because i always want to see what dr. fauci is going to say. charlie gasparino, what do you have, sir? charlie: i have to correct your accounting. it's dr. fauci. cheryl: only you. only you. only you know how to say my name correctly, by the way. charlie: thank you. thank you. listen, maybe we will get some daylight on what the president is expected to make or make some announcement on when he thinks the country should reopen. i have been doing some reporting on this. i have been talking to wall

street executives who have pretty much, are pretty much plugged into the white house and some other people. here's what they are saying is being contemplated. that first, as you know, trump told fox news that he would like easter to be the day where the country reopens. what people are saying now, he's definitely rethinking that blanket statement and may make a different statement. some thing more calibrated, something that says maybe we should have rolling -- we should end the quarantines on a rolling basis, maybe keep new york city and new york state and other areas in the country that are hard-hit by the coronavirus quarantined and basically locked down while other areas reopen. that's one of the things we understand he's looking at. the other thing he's looking at, i think it's fascinating, he's also -- the white house is also talking, i got this from somebody that was in the meeting, the investor meeting with the white house a couple days ago where big investors met with president trump, vice president pence and larry kudlow, senior economic adviser, he's considering some sort of plan that will integrate when we

do sort of get out of these lockdowns, that you start integrating younger people into the work force on a rolling basis as opposed to older people. now, where that line gets drawn, i don't know. as you know, the coronavirus is predominantly deadly to people over a certain age, 60, 70, 80. obviously it's very deadly to people that have other ailments, particularly lung ailments. so i think, you know, there's some talk about somehow having a rolling integration of the work force based on age and health and things of that nature. again, none of this has been confirmed by the white house. i'm getting this from people with close ties to the white house who say this is what's being contemplated, what's being spoken about. the president will have two chances today, obviously, to make a comment on this. number one, potentially at the signing of the stimulus bill, but also during that briefing with dr. fauci, casone. but that's where we are right

now. this is a big story because as you know, it's a health story. it's also a huge economic story. you can pump all the stimulus you want into the economy, cheryl, but if people don't go out and spend it because they're stuck home in quarantine, it's not going to matter much. back to you. cheryl: all right. casone. it is true. i will let you correct my english any time or sorry, my italian. gasparino. thank you, sir. good to see you. charlie gasparino. great reporting. see you soon. well, here's the dow right now. we will take a look at this on your screen. we are going to show you right now, we are showing you the dow and that's the dow since it hit that record high. well, it's been a rough -- i understand this, i will keep reminding you guys of this, we have come off of session lows today. we were down 1,080, 1,082, now we are down 720, 713. we've got 12 minutes to go. as we have learned in the last three weeks on this program, anything can happen before we

get to 4:00 eastern time. there's the dow right now, down 733. also, i want to talk about what's happening out in los angeles. this has been amazing. the "uss mercy" docked in los angeles this morning. it's a nearly 900 foot naval vessel. the "mercy" will be taking non-coronavirus patients from l.a. hospitals to free up beds for the pandemic. telemedicine is another way to alleviate pressure on the health care system. the american medical association says health systems around the country rapidly are increasing their use of telemedicine. we know this. let's bring in dr. chase feiger, founder of a telemedicine software provider. good to have you here. >> thank you, cheryl. i appreciate it. cheryl: before we get to the business of your company, i want to ask you, where are we, do you think, in this pandemic right now? charlie gasparino reporting that maybe there's talk about bringing healthy individuals, maybe they have to have a

negative test, they can roll back into the work force. what do you make of that idea, sir? >> yeah, i mean, your guess is as good as mine, cheryl. we don't really know where the bottom is. but a lot of the recommendations made by the trump administration have proven to be effective and the goal right now is to flatten the curve. cheryl: let's talk about telemedicine because your average person out there who always thought they needed to go to a doctor's office is not going to the doctor's office. doctors don't want to see people for an ear infection right now. talk about how widespread this telemedicine issue is as this new movement in health care and is it here to stay? >> yeah. i mean, listen, cheryl, there's a number of major behavioral changes that are taking place right now where patients are getting very used to interacting with their provider through platforms like ours and as a result of behavioral changes, they are seeing not only the

cost savings that they are generating from these types of consultation but in addition to that, they are seeing the convenience that they are getting by using this mechanism and channel to interact with their provider. cheryl: how can telemedicine help us during this pandemic? >> yeah. first and foremost, it's about ensuring that the most vulnerable patients have access to the health care resources that they need. you know, i have been in contact with leadership teams at hospitals like mt. sinai. two weeks ago they were doing 25 consults a day through telemedicine. they are now doing over 1,000 consults a day and what they are wanting to do, they want the preserve those ppe resources for the true vulnerable patients that really require, you know, brick and mortar health care resources. cheryl: but the fear of telemedicine from a patient's perspective, and this is i think pretty normal response, would be but they're not looking at me, they're not next to me, they can't look inside my ear, they can't look inside of my throat if i've got a sore throat or

maybe i have a strep throat. what do you say to those people that are still uneasy about the idea of telemedicine? >> yeah. the first thing i would tell them is that there's a number of conditions that are more telemedicine enabled than others. areas like dermatology, for example, women's health, primary care, infectious disease and there are new technologies that are being used to assess these patients so that clinicians are able to provide additional supporting factors to conclude supporting diagnostics. so again, telehealth and telemedicine, the personal health information of the patient, the hpi, you know, the allergies, medication history, all this information can be effectively used to drive a correct decision by a clinician and there's new technologies coming out to further support it. cheryl: all right. real quick before i let you go, we are getting close to the closing bell and have quite a market day to report to our viewers but i do want to ask you, when do you so the u.ee th

finally getting out of this pandemic? we have heard april and may. in your best medical opinion, what is your best guess right now? >> well, listen, the trump administration has done an effective job supporting things like eliminating state by state requirements for telemedicine, they have been supporting things like medicare and medicaid reimbursement for telemedicine. so again, as long as we are supporting and we are using technology to ensure that the right patients are getting the health care resources that they need and we are continuing to practice social distancing, which is of utmost importance, i'm hoping it will end soon. cheryl: a lot of good opinions from you today. we will see how this movement plays out, if you will. sir, thank you. i want to take our attention to the markets right now. we have now got seven minutes to go and there's a lot that's happened. this just broke a couple of moments ago during this interview. federal reserve bank of new york just announced it will continue to buy treasuries of all maturities at $75 billion a day

monday through wednesday. now, we actually saw a tiny bit of pullback on the markets, or excuse me, escalation in selling. not sure it's related to that because we know the fed has been intervening in the markets and putting liquidity into the markets so that might not be the reason here. we are down 904 points right now, 900 and change. s&p is down 90. nasdaq is down 281. the dow was at its lows down 1,082 but i will say this is after three strong days of gains, 3.2 million read on initial jobless claims yesterday which was record-breaking and astonishing by anyone's measure. biggest read in history ever. also, let's take a look at some of the weekly leaders and laggards. dow leaders for the week, we should highlight this, boeing, home depot, nike, those are the three stocks we are watching for the week, especially if you own those. boeing has had a big comeback this week. take a look at some of the laggards. walgreens boots, walmart, merck, even though merck is higher right now, still a laggard for

the week. s&p 500 weekly leaders, boeing, lincoln national corporation and unum group, an insurance company and laggards, hanes brand, nordstrom, macy's, these stores are shut down. macy's talking about letting people go. this is what's happening in our nation right now. this is reality. all right. let's bring in our closers. we have oliver persh, todd horowitz both with me. todd, good to see you. what do you make of all this? >> cheryl, double duty for you. you have been working great, doing a great job. look, i think the markets are going lower, as i have said to you on your show before. i think we are in the early stages of a recession. obviously the coronavirus accelerated some of the selling but i think when the fed has to continue to infuse liquidity into a market, that is not a healthy sign. i think we are going lower. i think the rally you just saw, the great rallies, so powerful, they usually fail and that's what we saw after the three big rallies. i think we are going

significantly lower here and will take out the lows in my opinion. cheryl: here's the thing, oliver. we are just seeing headlines cross on walt disney. their parks, they will have to leave them closed until further notice. there's no, for these major american companies, we rely on them to tell us where they're going and what they're doing, they can't tell us anything. got to be a little frustrating as an investor for you. >> of course it is. it's very frustrating. but there's a human toll, there's the economic toll. but i think this was a very interesting week the fundamental reason why stocks rallied earlier in the week. number one, credit market stabilized significantly meaning the worst fears of our credit are effectively off the table. that is very important for your viewers to understand. because credit has a much longer lasting impact on the company than the stock price is doing. secondly, you finally saw the

government stepping up and taking real action, not just in the stimulus package but in terms of policy. thirdly, investors recognize some of these things were just being sold and being thrown out with the backwater, that is too much. do i believe that we can retest the lows a week ago. yes, i do. i think there's more volatility ahead absolutely. there is also green sheets and people should remember that. >> he brings a great point, the unknowns, the virus is the market and the economy, we have the three-point to million read and i'm curious about what do you think about the overall economy, were a consumer driven economy, 70% of gdp, we spend money, this is what we do and were not doing it right now. >> we live by the month and right now were not going out so it's hard to spend money, no baseball, no basketball, and no disney, no place to go, you will take the money and put it in your pocket and not do anything just pay bills, that will not

create a lot of movement. three-point to million is only going to get bigger but it be the expectations by 20% which caused the big rally. markets have things ahead of time. i think the overall economy is struggling anyways before we got here and now i will little bit of trouble, if your and investor, stay the course, they will come back in ten years will be up eight -- eight half percent. investors should not worry about what's happening day-to-day, the markets are moving too fast and it's too hard to keep track, but your position work and continue to buy, we have extra capital to make that an opportunity. >> last word what are you buying? >> we are buying companies were one or two quarter delay of revenue such as microsoft, adobe, cisco it will ultimately not maddow under matter. don't stay the course, take

advantage and reposition your portfolio to reflect the new reality. there will be big winners and loggers and losers and you do not want to hold on to your losers at this point. >> i do gotta say, not every company -- we had records a couple months ago, this is a virus, this is not their fault. >> we assume that apple -- remember one thing, you are buying good solid companies then you can hold onto them, you always want to dump your dogs but you don't want to be an active trader, you're gonna have good solid companies that are built strong and will be around ten years from now and you can buy those and hold those, i'm not a big fan of tax money, i think you hold on to what you have and not worry about it and build a portfolio not traded trade in and out, most time you lose when you try to do that. >> you both have good points, it depends on the personal timeline, thank you very much, i had to say that todd. thank you very much.

i want to look at the markets, we are extending our losses, we are off of the session hi, the dow, s&p and the nasdaq, president trump at the oval office coming up in just a couple of moments, that is it for me, sending it to after the bow. melissa: back in the red after a massive three day rally the stock sinking after they passed a $3.2 trillion release bill, any moment president trump will line enter inside the legislation. i am melissa francis happy friday. connell: finally friday, i am connell mcshane, good to have you with us on after the bow, we have been in the red and all the major averages of 9% for the week. it is been a crazy week on somebody with levels, we have new headlines today we will bring you the president comments after we get them from the oval office