issues here than meet the eye. i think again, i look at these markets as a little bit overdone to the upside anyway. i was looking for a selloff. there's always a reason. i think we have more room to go on the downside. charles: okay. todd horowitz, thank you very, very much. folks, it was great being back. i have been away too long. but while i was gone, cheryl casone did an amazing job filling in for me. i want to say thank you as i hand it over to you, filling in for liz claman today. cheryl: thank you. so good to see you back in the chair and riding these markets and giving our viewers all these ideas for investments. charles: c.p. effect. cheryl: we will trademark that at some point. thank you very much. all right. well, we are going into the last hour, markets are bouncing higher right now following last week's massive rally. the best since 1938 for the dow last week. this isn't so bad to kick off your monday right now. take a look at the dow. we are up 508, the s&p is up 69

and change, the nasdaq up 224. investors are hoping we have already hit that bottom from the coronavirus outbreak. we're not saying we're hitting the bottom at fox business but we're hopeful. all of this as the medical world is searching for solutions to limit the virus's deadly effects. northwell health turning to 3d printing to churn out test swabs. they are going to be here to explain exactly what this means. pretty exciting stuff. and the elf beauty ceo is here exclusively to tell us how his company is faring after the coronavirus has shut down another outlet that sells his products. plus, liz claman wraps up her final day on self-quarantine focusing on workers as some amazon employees walk off the job and other businesses have the help wanted signs hanging on their front door. we are less than an hour to the closing bell. i'm cheryl casone in for liz claman. let's start "the claman

countdown." cheryl: we begin with some breaking news right now. we are just learning american express ceo is saying the company is going to initiate a hiring freeze to help avoid layoffs this year. nearly two-thirds of the credit card issuer's employees, about 60,000 people, are currently working from home. let's take a look at the stock and see how it's reacting to this breaking news. as you can see, the stock is fractionally higher, up 72 cents, but the stock is down more than 35% from just a month ago. the financial company's -- credit card companies certainly have been reeling in the middle of this pandemic. now let's look at several stocks on the move as we head to the last hour of trading. this is what i talked about with charles just a minute ago. johnson & johnson, the stock is spiking up more than 8%, almost 8% right now. they just announced their human

coronavirus vaccine trials could start by september. those are human trials. j & j was selected as the lead candidate for the vaccine. they say they would be able to get approval under an emergency use authorization that could make the vaccine available by early next year, 2021. that's actually a fast track if t in the world of medicine. airline stocks are trading. u.s. airline executives are set to meet with leaders of the transportation department this week at some point. they will discuss that $50 billion bailout package but despite all of this, delta is still going to offer free round-trip flights to medical workers that are willing to go to coronavirus hot spots. as you can see, delta down, united airlines down more than 8%, american down more than 11%. been a rough month for the airline sector. let's look at yum brands. they just announced they will be giving a $1,000 bonus to their nearly 1200 general managers at four different restaurant chains

that they own. taco bell, kfc, pizza hut, the habit burger. ceo david gibbs will forego his salary for the rest of 2020 to help pay for these one-time bonuses. again seeing ceos jump in and take the reins of their companies. cisco just inked a deal with supermarket giant kroger that will allow furloughed workers to temporarily get jobs at kroger's distribution centers. these jobs will be for at least 30 days, maybe more. cisco is going to pay the workers wages and provide their benefits. kroger's stock is higher, obviously one of the chains that's still functional and busy, up 2.5%. finally, peloton pedaling higher on reports that app downloads for the home workout company are up about five times higher than february, just a month ago. the stock has been a favorite among wall street during this pandemic as many gyms are shut down, people are told to stay

home. liz claman has a peloton. of course she has a peloton. stock is up about almost 8% right now. that's how she keeps in shape. all right. as the dow rallies after its best week since 1938, jpmorgan says the worst is, get this, probably over for this market malaise, yet coronavirus infection rates are going to remain a wild card and their prediction, this is all about predictions, that's all we got right now. oil at an 18-year low. we actually slipped below 20 bucks a barrel earlier today. we settled down 6.6%, $20.09 per barrel. that emotionally very important level of $20 in oil. now, is the worst behind all of us? that's a big question. at what level does oil go so low that it's bad for the economy or maybe it's good for the economy? let's bring in our floor show traders. scott redler and phil flynn. guys, good to see you both. >> good to be here. cheryl: phil, we've got cheap

gas prices. it would be great if people could actually drive around, right? >> it would be great. it would be fantastic. it would be good for businesses, pizza delivery guys, all that other stuff, but that's the sad part about this story. here we have these low gasoline prices but they are being caused by the wrong thing. they are caused by economic slowdown, economic stagnation and people not being able to drive. so it's really not good and not good for u.s. oil companies right now. cheryl: you know, we are looking at this price action on the markets right now, oil aside, because that's a different story, especially with the saudis and russians, but the markets are looking at stimulus and at the shutdown. the shutdown is going to go until april 30th. we heard that. at the same time, the stimulus, there's talk about in d.c. another round at some point. how much do we hang our hats on that? >> well, every time we hear news of more stimulus, the market reacts until it doesn't. if you recall last week when we got down to about 2191 in the

s&p, about 34%, 35% off the highs, the market was pricing in this declining economic output. the question is did it price in all of it. that's the bull/bear debate. for me, last week was an opportunity to play some type of oversold bounce and that is what we call our primary low. at this point we are in a reflex rally up. we came 35% down, came back about 18%, 19%. i personally think there's a little more room to rally with the pension rebounds and a little bit of new funds but i think it would be better to sell into s&p, 2700, 2800. if you want to put money to work, i would rather you still wait another week or two, get more data potentially when we get that retest of that prior low, i think that's a better entry than here today. cheryl: that's really technical. a lot of our viewers are sitting at home wondering exactly what can i do in the longer term, because a lot of folks, our viewers are smart and they're looking for opportunities in these markets. i don't think that anybody can time the market. that's just my opinion.

but i do think our viewers are looking for sectors, looking for stocks whether it's virus related stocks, consumer stocks. are there any sectors you think would be a good bet for folks? >> yeah, i think that long-term investors if they take a pen and write down levels off the highs and put money to work in the decline, i think they will do much better moving forward when we are 30% or 40% off highs, et cetera. i think if they are looking for sectors, you are starting to see names show relative strength. amazon is proving their business model works in any environment. i think that's going to outperform moving forward. netflix, which everyone questioned their model with competition from disney and whatnot, that could outperform. stay away from airlines and cruise lines and energy names. cheryl: that makes sense. phil, speaking of the russians and saudis, any positive movement between the two countries? >> so far, no. one of the positive things we

heard today was on "fox & friends" on the fox news channel when president trump was interviewed. he finally is starting to realize that maybe these low prices aren't always a good he said it was basically against his nature to be rooting for higher prices but he's starting to see the pain that's being caused in the u.s. energy industry, the potential job losses, the potential loss of energy security. so he picked up the phone, called mr. vladimir pu that much today. but listen, one thing i want to tell people at home is we will get through this and you cannot underestimate what the fed has done, what the congress has done and as long as they keep throwing money at this, i do believe we are close to the end, the worst is getting over. doesn't mean there won't be more pain. there will be. after that the skies are looking a lot brighter. cheryl: i like that. you are always a realist. guys, thank you very much. i want to take a look at

another stock we have been watching and talking about today, amazon. right now, the stock is actually moving to the upside, up almost 3%, broader markets are higher. workers at amazon warehouse in staten island, new york are going on strike this hour after an employee there tested positive for the coronavirus. liz claman in her final day of quarantine, by the way, has been working on that story. liz? liz: yeah, the last day live from my kitchen in new jersey. how exciting. cheryl, thank you. yeah. you know what, i'm sure you have been doing this, too, and many of our viewers as well, when packages are delivered to their front doorstep, whether they are from fed ex or ups or amazon, they have been wiping them down with everything from clorox wipes to any kind of sanitizers possible because everybody's very concerned as well they should be about other people touching this. but with amazon, it kind of stepped up the concern because some of their workers in their

warehouses have tested positive for coronavirus. we take you to staten island. one worker last week had tested positive even as, of course, the huge demand spike came in and so there are a lot of workers who are very concerned about what's been happening at the various distribution warehouses that amazon has around the nation. you know, these strikers are now saying we're walking off the job. i believe that we do now have people walking out of the amazon warehouses. twhaps we have hear that's what we have heard, in staten island. they were complaining the company did not shut down the actual warehouse in staten island where the worker tested positive for a deep clean. that's what they were asking for. now, there was a warehouse in kentucky where they did shut it down when a coronavirus person tested positive there, and what they did was they did do a deep clean there. but you are talking about a company that is very concerned about the strikers and of

course, what's happening. they are very concerned that they are not going to have workers to fill this huge spike in orders. so peoavalked off the job and let me tell you what they are de demanding that the company close down the warehouse, that it undergoes a deep clean and then they are pairing that demand with the demand that they get paid, the furloughed workers get paid. now, you know, i don't know what amazon's going to say at this point. we are waiting for a real reply here. but amazon has said that they feel they have definitely taken the right precautions for their workers. now, amazon is not the first company to be hit with a strike. in fact, one of the companies that it used to have an investment in is called instacart also heard from their workers, called shoppers, this is more of a gig economy company, and they are self-employed workers who basically get the orders and fill these orders of customers

desiring to have things dropped off at their front door. the strike they are looking at supposedly today as well is pretty much generated by a relatively new nonprofit called the gig workers collective, and the gig workers collective has put in a grocery list of demands, among them they want the workers to be provided with disinfectant and hand sanitizer and they also want an extra $5 every time they fill an order. once instacart got those demands they immediately said they would get hand sanitizer, they would get the proper equipment to keep the workers, the shoppers, safe, and they said they would provide that starting today. we are still working on getting confirmation that that is true but the company has now offered up to two weeks of pay for any shopper who is diagnosed with covid-19 and i think they are going to extend that deadline to apply for that extra help for that until i believe may 6. that is an indication that the mere threat of a strike is enough to get some of these

companies moving and working. so we will see if the collective, because i put in a request to hear from the collective about whether this is enough to get them to call off the strike by instacart, we will see if it is enough. right now, we do and you saw that video, we do have workers walking off the job at the amazon warehouse in staten island. so we just also want to say that coming up in just a few minutes, as so many people have been laid off and you talked already about brand new layoffs and charles just had guy fieri saying there are so many restaurant workers laid off. what we want to do is compare wages between the companies and industries that are laying off such as retail and restaurants, all these people finding themselves without work, then we will bring in some of the average pay for companies that are hiring, whether it's lowe's or walmart or target, and with all the benefits and bonuses, maybe a good part-time fix for so many people who are suffering because they have been laid off. cheryl: suffering is right. all i can say is tip, america.

make sure that you tip those delivery workers. they are going in, getting the food picked up. tip, tip, tip. liz claman, thank you very much. we will see you in just a few months. liz claman on her last day of quarantine. want to take a look at the big board. we've got the dow up 643 right now. we are actually powering a little higher in this last hour. you don't know what's going to happen in the last hour of trading. 45 minutes to go. also, ulta now sending its shoppers to the web, closing all physical stores until further notice. the cosmetics and hair care giant gave distribution center workers a $2 an hour pay bump for their efforts to help keep its digital business literally online. the stock is up almost 2% right now. up next, the ceo of elf beauty tells us why his company is still sitting pretty despite worldwide social distancing efforts. "the claman countdown" coming

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cheryl: you know, this monday of all mondays is really key for the markets. a few things are happening. on friday night obviously president trump signed that stimulus bill, $2.2 trillion going out to the nation. a sigh of relief, collective sigh of relief was felt with market participants and frankly, americans and small business owners that have been sitting at home wondering when the government was frankly going to get its act together and put something out that would actually help them. now, this has certainly been something the markets have been looking at but today is more interesting because this is the aftereffect of the stimulus. you would have thought, charles mentioned this in the last hour on fox business, you would have thought when anthony fauci, the doctor from the white house, fauci, as charlie gasparino

tells me to say it, when he said 200,000 deaths at the high end, the estimates, the markets would have sold off this morning and they didn't, is because of a few things. first off, let's look at some of the pharmaceutical companies. j & j, which is a big reason the dow is actually rising today, j & j coming out saying that vaccine, they are going the try and fast track it, human trials in september, maybe get a vaccine out by early next year. that's actually a fast thing. also look at companies like microsoft today. any company that's involved in work from home, think of zoom, a company like zoom which is where we are all video conferencing on that company right now, that's another example of where investors are looking for opportunity. this is not a normal market. ben br naernanke called this a snowstorm. dow transports certainly under pressure, your airlines, think about the cruise industry that's been hit so hard as well, but the markets overall just to give you some kind of context here

right now, markets, yes, were down for the month. as of friday, we will see how today goes and how tomorrow goes, this is the end of the first quarter, the markets are down about 10%. but for the quarter, dow and s&p 500 about 19%. it's not good to have those numbers out there but to give you context on where markets are right now. certainly when it comes to the stimulus and what's happening with businesses, it's all about steven mnuchin. he told stuart varney earlier today that relief for small businesses is on the way. i believe we have edward lawrence standing by to talk more about that. are you there? reporter: yeah, how you doing? cheryl: we know mr. mnuchin was on with stuart today. it was a great interview but the question is are we going to get more stimulus? reporter: you know, the phase four, in fact, house speaker nancy pelosi is talking right now about that and says she's gathering information to see where the needs are and she would like to see another stimulus package. she also says she would like to see another direct payment made

within a bill made to eligible americans. on the small business front, as you were talking about, the small business folks may have help this friday. treasury secretary steven mnuchin says on friday the small businesses could walk into a bank or call their bank and be able to get a loan on that. now, through that loan, they will be able to pay their bills, pay their mortgage, they will be able to pay employee salaries. the loan will be back-dated meaning retroactive, go back to 15th is how early that loan will go back to so they can hire anyone they have since laid off for that going forward. also, small businesses could reduce their staff by 25% and still get some of that loan forgiveness. so these loans could be forgiven should they keep their staff, should they not lower their payroll. but again, could go back 25% is what they could reduce their staff size by. if they reduced it more than 25%, then the loan forgiveness amount reduces.

so there still is a portion of loan, portion of loan forgiveness that could be paid back. cheryl: yeah, i will tell you this, too. i was talking to a small business owner if my neighborhood on friday night when i got home into my neighborhood. he said i don't know anything about this stimulus bill. what are they going to send me? i called my banker, he knew nothing about it. i said because the president just signed it. call your banker monday. that's what i would say to any -- reporter: or tuesday. or tuesday, because they are still working this out. in fact, the treasury department is still talking with the banks and fdic about how exactly they will do this and what requirements they need to see from those banks via payroll, some of their bills or what, you know, what requirements they need to see in order to get this loan and hold on to it. they are still working out. tomorrow's the day they should call. cheryl: i hope he's watching. tell you what, april 1st is when the rent is due, the utility bill is due, lot of things will be april 1st. these small businesses will be

struggling. thank you so much for jumping in on that breaking news, especially with nancy pelosi's comments. we are of course tracking everything she has to say at this point about a new bill. i want to take a look at the dow because as edward was talking and headlines were hitting the tape from nancy pelosi, no real effect on the dow. that's a good thing. she's saying stimulus, nothing before easter. maybe markets expected that. not a lot of pressure. slight tick down. also, there's this. disney executive chairman bob iger foregoing his salary and new ceo bob chapek taking a 50% pay cut as the coronavirus crisis worsens. disney's u.s. parks remain shuttered and the 2020 box office slate is literally on ice. that's not a "frozen" joke due to the deadly pathogen. the outbreak shaving 32% off magic kingdom shares to date. look at the stock right now, up 2.5%. "the claman countdown" coming right back. boston light, america's oldest lighthouse,

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cheryl: much of the nation is stuck at home due to the coronavirus and that's a potential double whammy for the cosmetics industry. for one, major retailers like ulta have shuttered all their stores in the u.s. so sales could certainly slide there. other think because everybody is staying in, nobody is wearing makeup. how companies in the sector stay afloat, maybe even thrive? let's find out. e.l.f. ceo tarang amin is with

us. let's first talk about how do you forecast your sales for the next quarter in this environment? obviously with ulta, one of your main distribution platforms, shutting their stores, that's got to be something you are going to have to deal with and not in a good way. on the phone: that's right. i think first and foremost, we have a pretty broad business and are still operating. so our top two customers are target and walmart as well as we have the number one mass e-commerce site in color cosmetics at e.l.f. cosmetics.com. we have been seeing good shares with target, walmart and our own online channel. earlier today we reaffirmed our fiscal '20 guidance. i think we will probably see companies reaffirming anything these days and that shows for the last fiscal year pretty strong growth in a soft category. to your point, consumer behavior has changed and we did see in the last two weeks of march a

pretty big falloff in the overall category. i think it's to your point of people at home, their shopping patterns have changed. even when they go into stores, i think they are headed straight to the essentials. at some point i'm hoping people realize they have enough toilet paper and it's time to look at other categories. cheryl: as a female, you know what, i will tell you when it comes to makeup i actually do like to see it in person and like to be closer to it to figure out what shades, because it's hard to look on the web. let me ask you about your supply chain right now. a lot of companies are telling us that the supply chain has been disrupted. are you having that problem? >> well, i'm really proud of our team. our first and foremost priority is always the health and wellness of our team and how we work together and that in turn leads to everything else. so much of our supply chain is in china but i'm happy to report that we are one of the first ones to come out of that and really, our supply chain is pretty much back to normal. we have been shipping to each of our retail customers as well as

online through our u.s. distribution centers pretty close to normal and i really attribute that to the incredible teamwork of our team and strong coordination and a lot of it has to do with our business model. we have been in china for 16 years. we have very strong relationships in terms of how we are able to coordinate and really come back up to speed. i guess that would be one of the bright spots we are seeing at least in our business. cheryl: well, tarang amin, e.l.f. beauty, hats off to you. thank you, sir, for being here. >> thank you. cheryl: let's take a look at the markets. we are actually seeing the dow pull back a little bit. we had been up almost -- pushing 700 points, now we are up 526. a lot can happen in the next 29 minutes. s&p is up 71. nasdaq is up 232. 3d systems joining the health care fight. taking a look at that stock of the 3d printing giant. the stock is up 5% right now.

they are producing valves for emergency ventilator masks, fascinating story. here in new york, the epicenter of the outbreak, one hospital taking a high tech approach to fight the storm surge with 3d test swabs. that story and more coming up on "the claman countdown."

cheryl: all right. let's do a stock check and take a look at abbott labs. the stock is up almost 6% right now. there is news on this company. the food and drug administration approved its five-minute coronavirus test. five minutes. this has enabled hospital ship "comfort" just arrived in new york city today, the epicenter of the pandemic here in this country. cases in new york state topping 66,000 today, making up more than 40% of all cases in the united states and certainly, new york is the epicenter. i want to bring in todd goldstein, director of 3d design

and innovation at northwell health. they are the largest health care provider in new york state. great to have you here, sir. on the phone: thank you for having me. cheryl: the testing issue. i don't even know where to begin. the average person out there knows there's no tests. people are walking around in new york and are sick, they are staying home because they think why bother even trying to get ahold of a test. where are we? >> so there are tests, there are plenty of tests available and drive-up areas, walk-in clinics. i know here at northwell we are doing thousands of tests a day for individuals who meet the cdc guidelines for getting tested. the issue becomes not necessarily can you get a test but can we keep the supply chain moving forward. the testing kits themselves are made up of a bunch of different ingredients, say, where you have a swab, you have the chemicals to test it and you actually have the lab-based test which will tell you if you do or do not have the covid-19 virus. cheryl: how does the online test work with northwell?

how does an average person get ahold of this? how is it processed? >> so if you consult with your medical provider and they say that you do need to actually be tested for covid-19, you would come into a facility and they would swab the back of your nose and then it would get sent to the lab and your provider will let you know. we are asking any individuals with any symptoms to please stay home. cheryl: doctors are telling people to stay home, don't go near a hospital unless you are really, really sick. speaking of hospitals, this is your backyard, this is your world. how is it on the front lines right now? >> so we are, you know, health care providers are amazing. we are fully ready to take anything that comes our way. however, you have to remember that there's a serious strain on the system, not necessarily in our health system but because everyone in the world right now is looking for the same exact pieces of equipment, same exact

testing, and it puts a strain on the manufacturers, especially when a lot of the manufacturers were shut down from the lunar new year and into the covid scare overseas. cheryl: i want to ask about gloomy projections about death rates. i point back to dr. fauci at the white house yesterday talking about the potential death toll going up as high as 200,000 in this country. new york right now is the epicenter. you are seeing these patients, how they are getting treated, whether or not they are recovering. governor cuomo sounded a little more optimistic today than i have heard him in a few days because he said the doubling of the cases is actually starting to slow. are you pessimistic, are you optimistic right now? >> i'm optimistic. you have to remember that even though this is a very big problem that we have right now, 98.5% of the people to the best of my ability that i know of get better. i am not an expert in this. i would let dr. fauci and other

epidemiologists field it. i am a biomechanical engineer that sits in a lab to help create the devices that our physicians and front line providers need. cheryl: you certainly are amidst a lot of very valiant doctors and nurses and medical professionals, your colleagues that are on the front lines and fighting this. we thank all of them. we do it every day here in this city, 7:00 p.m., we clap for them on the streets of manhattan. todd goldstein, thank you very much. >> thank you for having me. thank you to all the essential personnel that are keeping us fed and all our heroes in scrubs. cheryl: amen. thank you very much. all right. even as the market rallies, there is some potential bad news around the corner in the form of the march jobs report that's going to be coming out this friday. economists estimate we will see a loss of 100,000 jobs, 100,000 jobs for the month of march. we haven't seen this kind of number in ten years. many of those lost jobs are from the restaurant, movie theater industries. liz claman has been comparing pay from those industries with the pay of those who are

actually hiring and you found some very interesting differences. liz: yeah. some comparisons but we also need to throw retail in there. as you know, retail workers have gotten absolutely hammered and there was more bad news today. macy's, which has shuttered most of its stores, in fact, i believe all of them and they are also the parent company of bloomingdale's, they have done so since march 18th. now they are announcing that they have to furlough or pretty much lay off about a majority of their 130,000 employees and while it will still pay health benefits and certainly cover premiums through may, it is yet another huge blow to a gigantic chunk of workers in this country. but it was really the restaurant workers and we are talking about servers and dishwashers who were among the first to lose their jobs. of course, hundreds of thousands of restaurants have closed and that of course is because of the coronavirus. people are not supposed to be congregating together.

but we did hear from the national restaurant association that in the first 22 days of march, they just came out with this research, the industry has lost an estimated three million jobs. these are just a horrible situation for so many people. no revenue coming in. the restaurants closed, people are without work. according to zip recruiter, we started to look at wages here and this is just an average, i really want to stress that, the median hourly wage for a restaurant worker in america is $11 an hour but check this out. you know, you do have a lot of companies like walmart who are not laying off. they are hiring because so many people are ordering things online or just coming up for pickup. well, walmart announced it was hiring and it has starting wages for in-store associates at $11 an hour. with benefits added, that turns out to be about $17.55 at walmart and that is per hour.

the company of course said last week it is temporarily raised wages for its e-commerce warehouse workers by $2 an hour to $17 an hour. but of course, walmart is paying out cash bonuses, $150 for part-time workers and $300 for full-time workers. target is offering similar wages. so there's a comparison there. now, let me get to movie theater workers. the ticket takers, concession people, ushers, the national association of theater owners says the industry employs about 150,000 americans. when i say 99% of these people have been laid off, it's really 100%. i talked to adam aaron last week of amc theaters and he said what's the other 1%, because all of his theaters are closed. we know cinemark and all the other u.s. theaters are not open at this point. well, the average crew worker salary, that's what they call

them, crew members, according to indeed.com, is $12.50. now, if you manage a theater, i believe that goes to about $19. again, this is a national average. some areas, it's higher, some areas it is lower. but let's compare that to lowe's which announced it is absolutely hiring in-store associates and experts in all different worlds. i was looking at their website today. big box retailers along with some of the other names, they are hiring. so some 30,000 people are what lowe's needs for the spring season and of course, more than that because of the coronavirus demands that the store is definitely having. they need sales specialists, cashie cashiers, a whole bunch of people doing different jobs and in some cases, all you need according to lowe's website, is a high school diploma or equivalent to get some of these jobs. average entry level pay, well, according to indeed.com, it says it's about $14.47. but lowe's right now is also

offering bonuses. $150 for part-time employees and then $300 for full-time employees. but the national chains are hiring and so it might be something to consider for people who find themselves without work. we picked the national chains, of course, because depending on where your restaurant is or your theater is, there's a good bet there's a lowe's or walmart or target or home depot. but timing is extremely important for people right now. they are waiting on those checks from the government. it's going to be at least two weeks before they get that. lowe's, interestingly enough, tomorrow, march 31st, is the day that lowe's will be paying out bonuses and by the way, those bonuses will not be subjected to withholding tax. in a fox business exclusive, tomorrow, lowe's ceo marvin ellison will join me to talk about what else they are doing for their employees and on top of that, the business challenges that his stores are facing and

how they are working to overcome those challenges. he's got an extraordinarily interesting story. he started during college as a security guard at a target store in memphis and today, he's the ceo of lowe's. so he's known what it's like growing up in a small town in tennessee and not having a lot of money in his family and working his way up. we cannot wait to hear from marvin ellison of lowe's, ceo right here tomorrow on "the claman countdown." cheryl: i love those stories when somebody builds humself up. by the way, thank you so much for that. we will see you at the top of the show tomorrow. i'm going to miss the kitchen. i'm just saying it. liz: listen, thank you for stepping up. you're doing such a great job. really appreciate it. cheryl: this is fun. see you right at the top of the show. talk to you tomorrow. liz claman. let's take a look at the big board. we are up 611 now, pushing session highs. not quite there yet.

we'll take it. coming up next, charlie breaks it on what the nation's biggest banks are saying about upcoming loans for small businesses. we'll be right back. nowadays you do more from home than ever before.

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cheryl: well, as main street waits with baited breath for much-needed loans, charlie gasparino is digging into how the big banks are prepping for the rush to relief. that's a question for all these small business owners is when can i go to my bank and get the loan. charlie: i think this is the biggest part of the economic package that the trump administration is putting forth, the bailout package amid the coronavirus pandemic. 50% of the american work force is employed by small businesses. a lot of those small businesses

are closed down right now because of the quarantines. those small businesses need to get through the next three months. they need a bridge loan. those loans specifically, those loans to small businesses, are starting on friday, people say. here's what i have been talking to banking sources. if you own a small business and you want to tap into this because you want to get through the next three months, here's what you should do. first off, they're saying you should begin the application process immediately. do not wait until friday. get in line is essentially what bankers are saying. start the am case process today, if you can, and you need to know a few things about that. you need to know what your payroll is. talk to your accountant and basically a lot of these loans, we should point out, are based on payroll. also, they're saying that you must make contact with your business lender. don't go to the instasmall busi administration. don't call up the government. if you are a chase customer, call up your guy or gal at chase and tell them you want to get

this thing going. that's after you speak to your accountant who gives you some numbers on payroll. why is payroll so important? apparently these loans are -- go like this. you can get whatever is less, $10 million or a certain percentage of your payroll over a period of time. whatever's less, you are going to get as a loan. it will be a loan that you will have -- will not have to pay back if you keep people on. if you don't keep them on, you have to pay them back. remember, a lot of this involves payroll so it's very important. i spoke with eugene cornelius at the milken institute to double-check this, just to make sure people should begin the application process. here's what he told me. this is not a time to hesitate. small businesses should put in applications in the queue as soon as possible. mr. cornelius used to be a top official in the small business administration so time is of the

essence, you need that money, you got to get it going today, talk to your accountant, call your bank, bypass the small business administration and get in line because this money is the money, i have to make this really clear, this is the money that's going to restart the econo economy. cheryl: i love it. charlie, i love this story. thank you for doing it. this is big information for our viewers. charlie gasparino, great, great job. we'll be right back on "the claman countdown." dow hitting session highs as charlie was talking.

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and sometimes, you can find yourself heading in a new direction. but when you're with fidelity, a partner who makes sure every step is clear, there's nothing to stop you from moving forward. cheryl: we're pushing session highs. the markets up23. we're right at session high levels. five minutes to go. while see how we do. start the week off on a good note, folks. investors applauding social distancing efforts from the white house. are there stocks we should get into? let's bring in our closers for

that answer. peter mal u.k., and steven guilfoyle. good to see you both. >> good afternoon. cheryl: sarge, we'll start with you on this one. last week we had three updates. nice to see do we hang our hat on that, sarge? >> you can happening your hat on the moment. you may get help by the pension funds, some of them have to rebalance for the quarter and the month. we know it will go equities way. that said we have tough macro coming up this week. initial jobless claims will be tough once again. adp employment report will be tough and employment situation for the month will be tough there will be negative algorithmic reaction later in the week. you take advantage. in addition to buy the names you missed during the last couple days later this week, maybe thursday or friday. cheryl: glad you're looking forward, sarge. that jobless claims number, thursday number will be pretty frightening i think.

that is my next guess. the banks, we start to think, we think, earnings reports from these guys. i'm not sure they want to put these out but they will have to. financial sector, small business loans hitting economy, that they're a good bet? >> if you look at market, the market basically priced in a lot of what you're talking about. it is expecting super high unemployment. it is expecting very low earnings. i think the banks by themselves have unique circumstance they will be hurt by very low rates but helped by basically going to write guaranteed loans for everybody for quite some time. the market priced all of this in. if we get a resolution over the short run that the market will pay a lot of attention to the numbers out right now. cheryl: also, sarge, you're normally on the floor of the new york stock exchange and you're always looking at volume which we are too, volume was a little bit lighter on friday.

i can't help but wonder that is a good thing? not seeing extreme volatility or extreme volatility to the downside or the upside? >> it was lighter on thursday and lighter on friday t has been winding down. that was weekly expiration on friday. we probably should have had a little more volume. i think it means there is lack of conviction at this point. people are out of stocks. maybe not ready to get back in. a lot of traders are trying to decide if it was the bottom a few days ago. i don't think it necessarily was. we need a follow through day on way up. we'll see if volume ends up today. we may get the volume we're looking for today or tomorrow. cheryl: let me ask you, peter, do you think stimulus is priced in and an april shutdown is priced in? that was the news we got from the white house. >> that is priced in. -- is priced in. all unemployment earnings numbers are priced in. hibernating for april is priced in. i agree there is a lack of

conviction. in the beginning a lot of this disinformation and contradictory information boeing on with the coronavirus and uncertainty around what the fed and government and congress will do. we now know the president, congress, the fed, they have taken massive action. the market is no longer worried about 08-09 estimatic failure. we have credit for that. we got 20% upside credit for that. the rest priced in is exactly what you said and i added. if any deviation from that will move the market rapidly that will give the market conviction. if this deteriorates. if we start to see a signal that will go beyond april, then you start to go from everyone hibernating a little bit, everyone going back to work and unemployment numbers not meaning that much, to a lot of businesses potentially failing. you will see significant more downside. on the other hand, if we start to see some of these treatments that are showing promise can really reduce the mortality rate, we will get massive upside very quickly.

everyone is waiting for the next piece of news. we're going to get it in the next couple weeks. we'll see a big move. [closing bell rings] cheryl: guys, thank you very much. here we go. we're off session highs. the dow is up 694. that is it for "the claman countdown." "after the bell" starts right now. melissa: kicking off the week in the green, stocks surging on hopes that the stimulus and extended shutdowns will limit coronavirus impact on the economy. i'm melissa francis. connell: good to be with you, i'm connell mcshane. welcome to "after the bell" here on a monday. all three major averages closing up 3% or more. quite a finish to the day, quite a start to the week, following the best week for the dow since 1938. we'll talk about the markets. first fox business team coverage of some of our top headlines today with blake burman following the latest from the president, edward lawrence on the stimulus. edward to you in a moment but, blake, we start