later. folks, the dow is back up. we are up 219 points. believe me, we will take it. we know a lot is going to change over the next 60 minutes. that's when my friend liz claman will take you through the final, most exciting hour of trading. liz? liz: i hope it doesn't change, charles. let's keep green on the screen. charles: i hope it gets better. liz: we do -- i know. i know. exactly. that's the way i take the change. all right, my friend. see you in a bit. two fronts to the bull and bear battle have opened up as we head into this final hour of trade. oil moonshot. more than 23%, outweighing the devastating rise in weekly jobless claims. the bulls have an edge on both fronts. crude oil right now in the aftermarket session still holding on to 22% gains. the dow jones industrials up 269. we've got the s&p up 32 and the nasdaq is up 55. russell showing a little bit of weakness now for the small caps but there's still that streak of fear as the coronavirus courses

across america. famed investor mario gobelli has lived through many a crisis. he is here in a fox business exclusive on how he's maneuvering his money and he's going to reveal, stay tuned for this, five stocks he is buying, one of which he just scooped up 100,000 shares of. you've got to hear. we will give you all the names. in less than 24 hours, small businesses are going to line up around the nation for federal money, but there's one group of small businesses who may be shut out of $2 trillion in stimulus money. venture capitalist rohan oza, behind brands like vitamin water, so many names out there, he's here in a fox business exclusive to share his advice for small companies getting caught up in the covid-19 crush. we have been talking about zoom video communications, one

of the breakout stars of the work and learn from home environment, but what about slack and microsoft teams and zoom? are they stressing the internet? we have the net app ceo, we will ask if the web's plumbing is holding up from the new online strains of the coronavirus crisis. and the java chain stock getting a jarring jolt as an investigation swirls around it like steamed milk. less than an hour to the closing bell, let's start "the claman countdown." liz: breaking news, we want to take you to logan airport. we are on patriots plane watch. the team jet that normally ferries the six-time super bowl champs, there's a picture of it, is actually on its way back to the states. it's in the air, returning from china, filled with more than one million of the highly coveted

n95 masks. here's what happened. massachusetts governor charlie baker was desperate for help, he needed a plane to get to china to spend only two hours on the ground, that's all that was allowed to pick up the masks that the governor had been able to secure, and patriots owner bob kraft stepped up and sent his plane. there was a whole megilla it had to go through but it's amazing how people are coming together. the governor said once these masks get to massachusetts they will go to health care workers on the front lines in his home state but bob kraft said could we please give some to the state of new york, because of course, his heart, part of it certainly, is in new york. governor baker said the plane will be landing in a couple of hours. we've got cameras there. we will keep an eye out for that landing. thank you, bob kraft. all right. i'm a browns fan, so you know, for me to say thank you to the patriots. u.s. markets riding on the coattails of oil which spiked

nearly 25% at its highs today after president trump said he expects that saudi arabia and russia will finally get together with a little oily olive branch passed between the two on new oil production cuts to put a floor under what has been an absolute collapse. president trump said he expects the cuts to come to 10 million barrels per day. oil has lost some 50% so far this year. today it gained about 22%. that was just a gain of $4.50 because it's fallen so much. oil per barrel right now at $24.87. listen to this story. starbucks biggest competitor in china, luckin coffee, is crashing at this hour after a special committee has apparently found that the company's chief operating officer, along with other staff, fabricated transactions that totaled $310 million. look at this stock. it is plummeting 76% or $20.

this was a $26 stock yesterday. this is all taking place during the second through fourth quarters of last year. the c.o.o. and staff have been suspended and luckin has terminated contracts and deals with the parties involved. but that does not help shares, and shareholders of luckin coffee, ticker symbol lk. speaking of starbucks, the coffee giant is extending its dining area closures until may 3rd but at least there's green on the screen for this coffee chain. it's up nearly 2% because the company is also extending its coronavirus related pay increase for its workers until that time once again. starbucks comes through as a good corporate citizen. also getting pushback, "top gun 2" which was originally set to hit theaters june 24th. up until now, paramount hadn't said anything. now paramount which is releasing the movie has pushed it back to christmas. another paramount movie we have

already told you about, "a quiet place 2" will be released in theaters on september 4th after being pushed back last month. we've got viacom cbs parent up .75% right now. we want to keep you updated on what is happening with amc entertainment after the ceo adam aaron joined us first two weeks ago. lenders for the world's largest movie theater chain have reportedly hired restructuring lawyers to avoid bankruptcy after closing all theater locations for up to 12 weeks. this is now a $2.20 stock, down 15% today. and amazon, remember we told you about the amazon strikers this week? well, they have elicited some progress here. after some warehouse workers in staten island staged a protest and workers in romulus, michigan walked out, the e-commerce giant said it will begin taking temperatures of employees across all of its operations and it will be making face masks

available to employees by early next week. that had been one of the complaints, the workers said close these shops down, some other workers had tested positive, they needed to undergo a big cleaning. amazon making some changes. it's flat on the session. all right. georgia, mississippi and nevada now the latest to join the now 35 states with shelter in place or stay at home orders. look at this map. with hundreds of millions of americans now complying, you would think media stocks and funds would inflate as people resort to watching television at home, but take a look at these blue chip names that are trading, well, you could call it down or you could call it unbelievable discounts. nbc parent comcast down 24% year to date as the tokyo olympics and ad revenue that normally comes with the games are pushed back an entire year. comcast is up today but you can see it has been a very rough road for comcast. fox parent of fox business, now a leader in live news and

sports, trading 38% lower year to date, in part because the virus has halted live sports, especially major league baseball. that stock is flat to slightly lower today and of course, it has been a very difficult year to date picture. here in a fox business exclusive, the man who knows media stocks inside and out because he owns a ton of them, and here to reveal the top four stocks he is buying now, super mario gabelli, chairman of ceo of investment giant gamco. great to have you here. first, how is your team operating since the virus hit new york? on the phone: like everyone else. we are being practical and dealing remote. we have 90% of our staff rotating and working remote very effectively. great job. congratulations to everybody. and thanks to everyone. they put their clients first. by the way, let me echo comments

about kraft. i'm a new york giants fan, obviously. i have known bob for 20 years. he's done a great job. liz: bob kraft, really coming through. again, from a browns fan and you, from a giants fan. he's really coming through. >> at some point, the question becomes will we have live sports and will they allow teams to have attendees. i'm in the camp that says likely, slowly, but they'll recover. baseball was supposed to start a week ago on march 26th. we are a big fan of the atlanta brav braves. 60 million shares at $17. you are getting a lot of real estate and will be in good shape. liz: wait, wait, hold on. hold on. you are jumping ahead because we have this big windup of the names that you have been

investing in. listen, you have been in the business for 55 years. you have made it through six cycles. let's get to a name that you bought about 100,000 shares of i believe today, and that is ticker symbol trn. explain to our viewers what this company does and why you say you are buying right now. on the phone: well, it's a simple question. look, i have been following, right now the market is being hit [ inaudible ] oil got a little relief today because, you know, i filled up my car, i drove approximately six miles in the last three days, a quarter of a gallon, so demand is down sharply. now when we go to transportation and infrastructure, we as a country need the next thing which is big infrastructure bill to continue phase three or four, whatever we are up to. about 40 years ago i was doing work [ inaudible ] carl icahn

wound up buying it, i got to understand all about the rail car industry. i followed trinity, located in dallas. they have a new ceo. tim wallace did a fabulous job. you have a stock with less than a $2 billion market value and some of my mandate is to buy under $2 billion and this stock at $1515 over the next two years will be very attractive. in addition to that, there's a group that has a fairly substantial interest in it. that's one of them. liz: okay. you bought energizer. i know that. [ speaking simultaneously ] on the phone: yeah, that stock, i like to do what -- look, when i buy a million shares of a $17 stock, that's $17 million. i got that money from other deals that were being

consummated. we used the cash to reallocate. independent of that, the energizer is under $2 billion market cap as well. alan is doing a great job and i think over the next two or three years that bunny's going to run a long way. liz: good, good, good. you bought some shares of dana. for people who don't know, dana make light and commercial vehicle parts like axles and torque converters. why, when nobody is driving and car sales are down sharply, are you buying dana? on the phone: we have 4.6 million cars. we in the united states will be down 40% or 50% in q2 in terms of production, demand will be low. what i learned 50 years ago when i started following the auto industry, how bad is bad, how long is it going to be bad, how good is good and which stocks have already discounted the bad and which ones have a vision for

the future. dana is putting together pieces for the electric vehicle. he's doing a great job. the stock is down to $6 or $7. i'm not encouraging them [ inaudible ] but i like them to reduce the dividend so i can look at the stock. stock's around $6.50. i like it for the next three years as far as the cycle. there are a lot of companies like that. genuine parts, i have been following, in atlanta, georgia. donahue is doing a great job there. eventually people will drive again. liz: yeah. you like aerojet, too. this is a defense name. we can look at the stock. but i have to ask you about madison square garden. that is one that you're not adding to that position, correct? on the phone: well, going back there again, we do have a world we have to be prepared for all eventualities and we have the

equivalent of [ inaudible ] without our minuteman missile systems but in terms of madison square garden, they are spinning off the venues, keeping the sports teams so if you buy 100 shares of msg you will get a combo of both. that's financial engineering, long overdue. i'm a big fan of the knicks and rangers, obviously, being a new yorker, and i'm very passionate about that and i think that is going to do quite well. but i'm waiting for -- i need the numbers and i haven't seen them yet even after a year and a half. i have a pretty good guess. finally, along that line, in terms of financial engineering, corporate love making is going to come back, probably ahead of the pe curve. a good example of this, united technologies tomorrow, tomorrow you will be talking about the spinoff of carrier, which i like, the spinoff of otis.

united technologies is merging with raytheon and that will tie into the aviation business. obviously there's some challenges as to how fast it's going to come back. that's it. constantly looking for ideas and great opportunities. liz: well, you could go on the buffett way because you are buying when things are at a huge discount. i do just want to say to our viewers, no major league baseball, shuttered due to the virus but you are buying a piece of the atlanta braves with ticker symbol batra, right? this is -- on the phone: that's the voting stock. liz: that is so cool. mario gabelli, we will put all your stocks on the facebook.com/lizclaman page. thank you so much for joining us. stay well. on the phone: great to see you again. i will be back with you in person at some point. take care. liz: may we hope, indeed. up next, the godfather of

branding. rohan oza. you may not know the name but you know the products. you name it, he's had it. he's put money on it. oza on the fine print that could shut out some of the nation's hottest startups from the stimulus funds that small businesses will be allowed to apply for starting tomorrow. dow jones industrials gaining 220 points. "the claman countdown" will be right back. you wouldn't accept an incomplete job from anyone else. so why accept it from your allergy pills? flonase relieves your worst symptoms which most pills don't. get all-in-one allergy relief for 24 hours, with flonase.

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businesses will start to be able to apply for the money from that $2 trillion stimulus bill to blunt the effects of the coronavirus because it has just slammed the u.s. economy. you know that. but there is a catch when it comes to small businesses. the bill includes loans to businesses with 500 or fewer employees. but not every 500 or fewer company will be able to get the money, but for venture-backed startups, so-called affiliation rules could prevent access to that financial safety net. in other words, if 50% plus of a company is owned by a venture capitalist or if your company adds up to more than 500 employees, you might be shut out. our next guest is a famed venture capitalist who has invested in more than 25 unbelievably successful companies throughout his career. he's also a recurring shark on "shark tank." we welcome rohan oza joining us

live. great to have you here. as a venture capitalist, how are you digesting the news that venture-backed startups depending on the ownership part of it could get the short end of the stick with the stimulus bill? >> liz, thanks for having me again. unfortunately, under very turbulent times for our country. i would love to address the point that you're making. i think that entrepreneurship is the lifeblood of america. i have said this to you time and again, every time i have been on the show, and it's what makes this country great. i think that, you know, venture-backed startups employ 2.2 million americans. they are 40% of the ipos and 50% of the job creation and i think it's unfair to count them out. these are people who have taken a risk for the american dream, they have found money to grow their company, they found real ideas with real products and now during these tough times, i think we have to support them in

the same way we are supporting all the other small businesses. the government passed the biggest stimulus package in history which is incredible but i think it's got to include these small business companies regardless of where they're backed from. liz: rohan, when you are speaking with many of your startup companies with whom you've invested, what are you telling them? show up at the banks and apply for these loans? >> i think first of all, yes, i think that the package the government put together in general is terrific for small businesses and i tell them get what's due to you, what are you owed, what is due to you, get that first of all. the u.s. chamber of commerce actually has a great cheat sheet that i found because the stimulus bill as you know is fairly large, 900 pages, but there's a cheat sheet which i like as well. i have also told a lot of them try to renegotiate your biggest costs, whether it's rent, i think landlords are open and understanding as to what's happening there. find ways -- it's not like they

have 1600 people waiting to take your spot if you can't make the terms. find a way to renegotiate. the last part i'm telling them is stay close to your community. all these brands, all these companies have communities that have supported them to get them to where they are. stay close to the community socially, digitally, social distancing doesn't mean you shouldn't be socially connected. i think stay close to them and they will help you through this time so we will emerge at some point. when we do emerge, you will be stronger for it. liz: well, for people who don't know, you sold smartwater and vitamin water for billions of dollars. you have had incredible success with so many companies. i find it really interesting and kind of painful for startups who get venture capital money that if they have say 30 people working for them, if they are affiliated with a venture capitalist who then has 50% plus investments in a whole bunch of other startups, the feds say you got to combine the number of employees of all those startups

and if that equals more than 500 people, they are ineligible for sba loans. what do you think? can you lobby? do you know anybody in d.c. where you can say wait a minute, you've got to help these smaller businesses? >> i thought you might help me. you are the name with the mic. you have the connections. i do believe, yes, there's a bunch of lobbyists out there. it doesn't make sense because company a has no association with company b. they are trying to do what's right by their team, their employees, their brand, and their customers, and it's unfair to lump everyone together just because in some capacity, these companies have been backed. maybe i'm wrong, but i don't think it's actually over 50%. i think it's over 20%. so i think that, you know, we completely control the company, maybe it's different but most of our investment, we don't control the companies. we are just an investor along with some others helping support these small businesses to thrive. liz: rohan oza of cavu ventures,

good luck to you and the companies in whom you have a stake. thank you so much. forget the bubble sheets. one major university system may erase the s.a.t.s from its admissions requirement due to the coronavirus. that and more straight ahead on "the claman countdown."

liz: the coronavirus crisis upsetting the education apple cart, but maybe thrilling some would-be college students, as millions of high school stude s students, specifically juniors, are forced to learn online as campuses across the nation close down just to limit the spread of covid-19. now one of the largest public university systems in america has decided it will not require the s.a.t. or a.c.t. scores for incoming classes of 2021 freshmen. it's the university of california, announcing that it will ease admissions requirements. the 200,000 prospective students seeking a seat at schools like uc berkeley, ucla, uc santa cruz, uc san diego, will not have to submit s.a.t. scores or even letter grades to some required courses. the shift in the admissions process coming after students who were planning to take standardized tests like the s.a.t. or a.c.t. this spring to

boost their college applications found their plans completely derailed, testing centers have been closed, everything has come the a standstill with all exams canceled or postponed due to the coronavirus outbreak. the college board which runs the s.a.t. tests told me that it will and by the way, they have also told the "l.a. times" this, it will provide additional s.a.t. testing dates and increased capacity as soon as the public health situation allows, but they have also told me, because i have been speaking to both the s.a.t. college board and the a.c.t., that their ceos are preparing for a statement and they will get it to us once they are able to. but the university of california system is not the first to drop the s.a.t. amid the coronavirus crisis. it is the biggest, though. about a dozen other colleges and universities have made this move, some critics are calling it a death knell for standardized testing, claiming the tests are biased against underprivileged students. we are talking about critics of

the test, not critics of the move to not require the test, because ever since operation varsity blues, people realize wait a minute, you can game these things so uc system for freshmen of 2021, do not need to submit a.c.t. or s.a.t. scores. missed it by that much with my senior. a stunning move to the downside for one of 2019's high flyers. we have 29 minutes before the closing bell rings. dow jones industrials up 285. make that 75 points. e-retailer shopify is tumbling intraday after suspending its 2020 guidance due to the coronavirus crisis. shares are tumbling 11.66% right now but we like to give you perspective here on "the claman countdown." they are still up more than 87% in the past 52 weeks. shopify which helps all kinds of

e-commerce sites, conduct e-commerce, is having a hard time sfidespite the stay at hom lockdown boom. could lockdown fever break the internet? up next, in a "countdown" exclusive, net app ceo tells us just how close or how far we are from a worldwide web crash. "the claman countdown" will be right back.

liz: all right. you know that one of the breakout stars in the coronavirus crisis is zoom video, but it is tumbling today. it's been a real momentum stock. despite seeing a massive increase in usage of its video conferencing app, the stock is down 10.33%. but look, let's just talk about some of the numbers here. zoom's user count has jumped from 10 million to 200 million just during the month of march. but the company, here's the

problem, is now facing mounting security and privacy concerns along with an inquiry from new york attorney general letitia james. zoom hitting a pause button on new features as it tries to wrap its arms around some of those issues. but some organizations are not waiting around. nasa, for one. nasa is prohibiting its employees from using zoom and nasa, one of spacex's biggest customers. elon musk is following suit for his company, telling spacex employees there that there are quote, significant privacy and security concerns with the app. tesla did not respond to an inquiry from fox business about whether employees at that elon musk company have also been prohibited from using zoom, but look, regardless of what spacex and nasa are doing, could all this extra traffic end up eventually breaking the internet, as we all pile on, no matter what app you're using. last week, verizon saw a 52%

increase in daily usage of vpn and 47% increase in use of collaboration tools. cloud companies at the forefront find out how they're handling increased usage so we thought let's get george kurian, ceo of net app, here in a fox business exclusive. what has your world been like? >> we have seen extraordinary growth in the ability of our technology to scale around the world. we are the backbone of providing mission-critical data to health care workers on the front line of the crisis and we have seen our teams go above and beyond in terms of making our health care partners, hospitals, doctors, convert field hospitals and stand up emergency environments literally in the space of 24 to 48 hours. liz: tell us how the web and the infrastructure of the internet from where you sit is holding up, because everybody i know is

either using zoom, everyone is using slack, microsoft teams, we are all working at home and the kids are studying at home so i would imagine the pipes at some point could get a little clogged. what do you see? >> you know, the internet is a distributed environment so it can scale alongside usage. of course at some point, you've got to make infrastructure investments to scale. we planned for the crisis early. we got moving in january and we have been able to run a virtual town hall this morning for 7,000 employees around the world. so far, good planning and preparation has allowed us to be able to scale. i think there needs to be work to continue to allow the internet to scale across this change in how people work becomes a permanent reality for a large percentage of the

population. liz: you know, we have to learn from this crisis. at some point we are going to see it in the rear view mirror, we certainly hope. goodness gracious. but what will we see as we look back that we need to change? does the federal government have to come in here like they did in the 1800s when the buildout of the railroads were happening, or big pharma in some countries, where some federal governments come in and actually help because the huge amount to build out infrastructure when it comes to broadband may very well need to be everywhere. the rural areas are getting shut out. >> you know, i think what we see from our clients and from our own experience is that moving business processes and businesses into a much more digitized model will only accelerate through the course of this crisis and following from it. i think in our case, the fact that we moved our business into a highly internet-enabled

digital model has really enabled us to not only serve our customers digitally but keep our employees connected digitally. you know, it's ironic that we found that at a time when we are further apart physically, we are never more connected than it is today, right, and i think over time, the fact that everybody needs a digital connection is something that society, government and private institutions will need to consider quite seriously. liz: indeed. george, lovely to have you. good luck to your team. congratulations on the town hall that you had thousands of people on and everything held up. thank you so much. >> thank you. good to speak with you. be well. liz: george kurian of netapp. getting back to business in china, we have the closing bell ringing in exactly 20 minutes and the dow still holding up, up 232 points, despite the reopening of all of its china

stores, pvh suspending its dividend and its 2020 guidance. the ceo who tested positive for the coronavirus does say he feels fine and has been working through his infection period. but shares of the calvin klein brand are a little under the weather, down right now. up next, this is interesting, elizabeth holmes charged with fraud, now making a claim you will not believe. what a judge told her, next. [ "one more time" by daft punk ]

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liz: you remember the soup nazi, no soup for you? well, no essential worker status for you. that's what the judge overseeing the case of elizabeth holmes, the theranos executive accused of lying to investors and partners and the public about the effectiveness of blood testing technologies, has told the disgraced stanford dropout. holmes had requested, ready for this, that her legal team defending her be deemed essential. holmes' attorneys had argued that new shelter in place orders in california could hinder their ability to execute subpoenas and travel for meetings, but the judge slammed the petition as a request for him to violate orders of other jurisdictions in a very public way, perhaps as a tactic to force a delay of the trial. attorney general william barr has proclaimed federal prosecutors essential and exempt from various coronavirus shutdown orders but that designation does not extend to

defense attorneys. so elizabeth holmes and theranos and her legal team are not deemed essential. round one of the first relief checks, not even in the mail yet but the white house and wall street already talking the next phase of federal stimulus efforts. charlie gasparino with new inside details on these high level discussions. hi, charlie. charlie: how you doing, liz. i'm getting this from wall street sources who are dealing directly from the white house, with the white house, and some political types in washington. there is a second round stimulus being spoken about. some of this is public out there. we heard nancy pelosi say we should bail out the cities and the states. we have heard mitch mcconnell make some noise. but i'm starting to get granular here is on in the near term might happen, what type of stimulus in the near term might come out of this. listen, even before this money is spent and before the small business loans get doled out, i think tomorrow is the day they are supposed to begin, right,

$350 billion worth of small business loans? here's what we know. the white house and wall street and people in congress, they are talking about a second round stimulus. they are talking about a second extension, an extension of that small business loan. we have $350 billion now. what they are saying is they are going to easily exceed that money, given the pent-up demand for small business loans, for bridge loans to keep these businesses afloat and not in bankruptcy. so based on that demand, what they are saying is they are probably going to come back and reallocate some more money. i do not have the number. you could expect it to be -- have a billion next to it, a "b" next to it. the other thing we hear is that wall street and the white house, what they are talking about is an extension of the payroll tax credit. a little easier to roll with because you don't have to essentially allocate money. but it will be a cost for the u.s. treasury. it will add to the deficit, obviously, long run. but they think that is needed to get us through this, what we

have right now which is a deep recession which is taking over the u.s. economy. again, markets are up today. markets like some of the stimulus measure, they like the fact there's higher oil prices which is good for the oil patch economy and for companies there and maybe banks that lent them money. but a lot of the talk in this sort of wall street/washington corridor which you have to know, liz, the white house is holding meetings with investors just about every day. they had a meeting yesterday with the financial services forum. jamie dimon, it was literally his first day back at work yesterday during that call. these meetings are going on every day. they are talking about stimulus, talking about how to keep the economy from going into a great depression, albeit maybe a short one, and all these stimulus measures are what is being planned. the granular, i can give you as of now which i think a lot of people think is a done deal, are two issues. number one, the loans, that

there will be added loans, we are going to go way past $350 billion when that second round is coming and it will be a "b" next to it and the extension of the payroll tax credit and other stuff ois tis on the table as w. nancy pelosi is pushing for some sort of bail jut out of cities states which are going into deficit mode right now amid this crisis. when we hear more about these details about the stimulus, i'm going to come back on and tell you and tell the network, because this is a developing story. back to you. liz: yeah. i don't know if you saw gabelli, but mario gabelli was on at the top of the show and he was telling me he's now watched some midcap companies turn into small cap companies. they have lost so much market cap that they are now considered the small guys. charlie: yeah, it's just amazing what has happened to stock market valuations, valuations of all companies. right now, private equity is sitting back because they know

they can buy companies, take them private, at fractions of the cost they can -- they would have say a month ago. so this is having a real impact on the economy, on valuations. we should also point out that one of the problems with this economy, it was going great guns, at least the top line numbers looked well, but there was lots of leverage in this system. a lot of these companies walked into this black swan event with tons of leverage and you know, if we have a deep, deep, deep recession, you know, that's usually a sign of companies going into bankruptcy. so i'm not saying it's going to happen but it's one of the possibilities when you have an economy that was -- and a market that was running on very low interest rates, lots of borrowing and now a black swan event. back to you. liz: charlie, thank you very much. charlie gasparino. let's both wear red tomorrow because we are both wearing white. one of the most well-known watch makers is moving with the times.

with the closing bell ringing in exactly ten minutes and the dow has almost doubled its gains since the top of the hour, up 444 points right now, movado announcing it will be furloughing 80% of its north american staff. and salaried employees are set for a 15% to 25% pay cut. the luxury watch giant also freezing, this is not good, its 401(k) match program. it's not going to do that for now. investors giving the thumbs up to the cost-cutting measures, though. the stock is up nearly 3% right now. up next, shaken not exactly to his core but yeah, tremoring a little bit. the shocking sales disappointment that's slightly rattling shake shack shares into the close. "the claman countdown" coming right back.

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♪. liz, we're five 1/2 minutes away from the closing bell. i wanted to show you first the

markets. it is a nice day for all the bulls out there. so nice to be able to say that, a little bit of green on the screen here. we have the dow up 452 points. s&p better by 54, nasdaq up 118. as stocks go up the volatility or fear index is falling. down about 10.7% at the moment for the fear index. that means the tension is not quite there. what is interesting, usually when vix is down, markets are up, gold would be down. but gold is moving higher. not a tiny bit here. the yellow metal is up $49. that is a gain of about 3% to $1690 a troy ounce. nothing diminish what is happened this morning when we got a massive 6.6 million in jobless claims, these are first

time jobless claims and the restaurant industry is very much at the heart of that. tens of thousands of restaurants shuttered, some temporarily. 3% of all restaurants in the u.s. now closed permanently. they could be followed by more. this cord towing the national restaurant association. amid the outbreak of coronavirus, sales falling across some of america's favorite brand as well. let's go to cheryl casone in the fox business news room with some of the numbers and stocks involved here. >> this is interesting mix what is happening at each of these names. i want to start with shake shack. the fox has been on a freefall like many in their group. the shack says sales are down, quote dramatically. sales down due to mandated shutdowns, down 70% overall. look at intraday pressure, the stock overall, 70% drop in sales hurting them. they're trying to set up delivery operations. they have partners like door dash, caviar, uber eats and

grubhub but rough news for shake shack. the stock is up as i showed you. look at brinker international. same-store sales fell 5.9% on average. now the ticker symbol, i love this one, it is eat. the stock is down more than 12.25%. they own chili's, 20% of sales from delivery. brinker another stock. lastly, liz, show you blooming brands. price target cut by raymond james. not a big effect on the stock. look at intraday on blooming. the stock is down more than 2%. raymond james says there will be pressure on this whole group. as you mentioned yet, lay offs, some companies may not come back. they're trying to come up with plans to keep in business. it is anybody's game at this point, liz. liz: yeah, i have to tell you thank god for shake shack. shake shack and not to mention i think it is really important to

say back is open. they're doing curbside in my town. >> i love shake shack. i'm with you. liz: thank you very much, cheryl casone. we have 2 1/2 minutes left, investors waiting for positive news on covid-19 before jumping back in the markets? today's "countdown" closer says you will have missed the best entry point. haverford cio hank smith. hank, at the top of the show, mario ga little by is diving in gabelli. what are you doing? >> we're rebalancing as well, liz. good to be with you. it is a for long-term shareholders balance between stock and bonds and underweight stocks you take advantage of

this. having said that we'll likely test the bottoms that would be consistent with every bear market. you have a test, sometimes two tests. that said we think the lows have probably been put in last monday. and enormity of monetary, fiscal stimulus that gives us that kind of confidence but we will be testing them. liz: okay. is there anything in particular that you are looking at now? because i'm sure it has changed, hank, since the virus started what to look for when you're deciding i'm ready to buy a stock? >> well more than ever, investors need to focus on quality and financial strength and so that is right up our investment philosophy. you want to make sure that you got leaders, best in breed. we like in the retail area home depot, lowe's which we

recently added to, best in breed retailers. [closing bell rings] they will do reasonably well in the recession but on other side they will do very well. liz: great to have you. hank smith of haverford. there is the closing bell. what do we get? a gain. markets rally into the close, up 470 points even as the labor market shows it is in freefall. that will do it for "the claman countdown." melissa: stocks surging higher in the final minutes of trading despite the worst jobless claims numbers in american history. i'm melissa francis. connell: i'm connell mcshane. welcome to "after the bell," everybody. oil a big story today with president trump saying saudi arabia and russia will cut production. fox business team coverage set up with our reporters standing by. blake burman is in washington with the latest from the it