destruction that's happening overseas. we know about the model and what we got from dr. fauci and the likes, but i did research too. we have 4,000 people for every increase in gdp lost, there's other problems on the other side. charles: scott, we have to leave it there, thank you, my friend. liz charles: we have to watch your show for the whole entire hour and hope we can hold on by our fingernails. liz: i was going to say it is like white knuckles at this moment. don't look at my manicure. okay. thanks, charles, have a good friday and a good weekend. charles: see you. liz: the dow gained yesterday, there are only about 100 points of that left. the dow drenched by the first monthly job losses in nearly a decade. march got soaked. employers shed 701,000 jobs for

the month as the coronavirus crisis takes its toll on the economy. so no wonder thousands of small business owners began lining up before dawn to tap the government's rescue coffers. with 349 billion dollars in loans ready for the taking we're about to get the real-time numbers from the fed. but why are some banks both huge and small waiting to grant the loans? right now still? the ceo of a community bank, serving hundreds of desperate small businesses is here. why the ceo is teaming up with regional competitors to launch the loans on monday. it's a fox business exclusive. meanwhile, one financial tech loan company thinks the covid-19 catastrophe could accelerate the death of paper money. the co founder and the ceo of a firm, a big thinker is going to join us in a fox business exclusive with why he thinks that paper currency is going

away. one of the nation's biggest producers of the medical community, most valuable commodity right now, after doctors, is here. the ceo, the top producer of, yes, ventilators, nick farrell is here to update on how his company is upping production of life-saving ventilators, but where they are going once they are completed. we are less than an hour to the closing bell after a very difficult week on this friday. glad you are with us. let's start the claman countdown. ♪ breaking news, we've got to get you to look at brent crude oil prices. they are spiking on what appears to be the first confirmation that russia is apparently on board with a plan for opec plus to cut oil output by as much as 10 million barrels per day.

we've got brent up 15% right now. standing at $34.58. let's flip it over to what trades here. brent's overseas. west texas intermediate is what trades here. it too is spiking nearly 13% on news that putin reportedly told russian oil ceos about the possible cuts to come. the backdrop is the same, for president trump, who is meeting at the white house at this hour with top u.s. oil executives from exxonmobil to chevron to occidental petroleum to a whole bunch of other names. they are among those invited to the discussion in the cabinet room. what we're going to do is bring you the video of that meeting and headlines from it as soon as we get them. in the meantime, we flip it over to the marks. -- markets. they may be sliding but tesla is rallying. the electric vehicle giant said it produced nearly 103,000 vehicles and delivered more than 88,000 during the first quarter. tesla whose stock is up 5% right now also said that model y

production started in january and deliveries actually began during the month of march, and that is ahead of schedule. so tesla stock stands at $478.64. flip it over to autonation. it is stalling out after announcing it will be laying off some 7,000 employees after seeing year over year declines in sales of approximately 50% over just the last two weeks here, folks. that stock is down 3%. and the last two weeks, yeah, so bad that the employees will be placed on unpaid leave and there will be pay reductions for associates and higher-ups. all right, underarmour seeing gains after announcing it will be laying off workers at its u.s. brand and factory house stores and 600 employees that work at its u.s.-based distribution center. that stock is doing the opposite of what autonation is doing. it is up 5 1/4%. the retailer will pay bonuses to distribution center employees who continue to work during the crisis.

underarmour has pulled its first quarter and full year guidance over all the uncertainty, that so many other businesses are seeing. let's get to lulu lemon, an upgrade, even as stores remain closed. b riley upgraded the retailer to a buy saying it is well positioned to benefit as it increases loyalty through on-line exercise classes. that is not helping the stock. down about 2 3/4%. rosenblatt securities has initiated peloton at a buy saying it will benefit greatly in the short-term as gyms remain closed. peloton stock jumping another 7 1/2%. by the way, peloton also launched an android tv app for those working out of their homes. breaking news at this hour, we as i understand it are just now getting the latest number of applications for small business rescue loans. we've been getting these numbers on an hourly basis, and we now

understand that 6,000 small business loans under the paycheck protection program or ppp which began today have now been processed by both large and smaller community banks. i said processed. they amount to more than 2 billion dollars. to charlie gasparino on whether and which of the big banks are on board and how processing is going. charlie? >> well, liz, they are all trying to be on board, but i think you could say and listen this was somewhat signalled. we have been reporting that there was some degree of confusion as this loan program was ramping up over the past week. indeed there is a lot of confusion, mass confusion amongst small business owners who are telling the fox business network that particularly at bank of america, it seems to be that's one of the pressure points that they can't get their applications processed by bank of america. we should point out as i'm reporting this president trump came out with a tweet congratulations bank of america doing a great job. if you talk to small business

owners who are trying to go through that bank, they are saying anything but, it seems like at least from the business owner standpoint is that bank of america as it's facing an onslaught of loan applications is performing a type of triage. it is essentially looking for reasons to turn people away because it can't handle the volume. and in doing so, it's basically picking the best customers that can and processing those small business loans first. not sure if that's what the treasury intended when it issues these guidelines that just came out yesterday, on the small business loan program, which is tied to the pandemic and to basically lift the economy out of what's closely becoming a depression because so many small businesses as you know, the backbone of the u.s. economy, employing about 50% of the workforce are getting hit hard by this, by the various quarantines, but it looks like bank of america is the one in the crosshairs. we should point out that jpmorgan just started its application process late today. excuse me, this afternoon. it's basically up and running now, but this morning it was

not. we should point out that wells fargo has yet to enact its program, neither has citigroup, bank of america had no comment. but, you know, listen, on one hand, liz, you have to give them some leeway here. i mean, they basically had a couple weeks to put this together. they basically got -- not basically, they did get the guidelines from the treasury on how to handle the loans last night. that's why jpmorgan took more time to make sure its systems in order. that said, what's going on at bank of america, at least from the small business owners' stand point is not very good. one small business owner said that he had a long-term line of credit with the bank. but he didn't have a credit card. that meant he didn't get his loan processed. that is the type of stuff -- liz: oh, come on. >> we should point out the president thinks they are doing a great job. the small business guys on the ground dealing with bank of america personnel thinks that bank is not doing a great job. obviously not a lot of time to prepare for this, but it is what it is, as they say.

back to you, liz. liz: we knew the rollout would be a little herki jerky, i get that, but that's something like the old wells fargo would have said you need to sign up for another credit card or another line of credit, that's not great. charlie, thank you. charlie gasparino. >> one point i want to make here is that we've been reporting this for a week. that's what journalists do. they kind of alert you about a problem. it's funny how they basically ignored us. we've been ahead of this story. they ignored us. listen, the price you pay for that, bad customer service is you lose customers. liz: yeah. charlie, thank you. well, guess what? the jpmorgans of the world aren't the only ones waiting to fire up the loan-writing pens for desperate small businesses. let us take you now up to up state new york, where 150-year-old community bank

founded after the civil war to give loans to returning veterans is waiting till monday to write up the rescue checks. the ceo is joining us live. when i spoke to you this morning, you had about just over 150 businesses applying. first, what's the very latest number of applications you have received? >> hi, liz, we are well north of 200 people that are poised and ready to submit applications digitally at the beginning of next week. separately we've had hundreds, and i would be guessing, but it's somewhere near 4, 5, 600 phone calls, e-mails, and texts to our rather small staff and myself. these are small community businesses, multigenerational businesses, may or may not know, tourist destination, a ton of eat res, distilleries. we're foodies up here,

breweries, boutique hotels. some just put their flag in the sand, you know, three, four months ago and third generation of doing this. they're the folks that need the money. so they're coming out of the woodwork so to speak. i echo the last gentleman that said, you know, it's chaos. it was absolutely a chaotic rollout of a very beneficial program. liz: well, i hear you on that. i hear you on that. but that is why you're waiting until monday, as i understand it to start writing the rescue loans. talk about that, because apparently now and as i understand it, you're teaming up with competitor banks, three others at least, under the umbrella of what used to be the new york community bankers i believe new york business development corporation now called pursuit, to do it together on monday.

why? >> so we want to make sure not just we but pursuit wants to make sure that we get this right, that when we execute, the community will be served the way they need to be served. this is their blood line. this is life and death. in the midst of chaos. when we have the likes of bank of america, wells, chase, not really getting their arms around it but some of it is not their fault. that is not an arena of a small community bank who serves the community where they live and the businesses that thrive on us and we on they, we can't get it wrong. it will bring them down. what we have done is stay in lock step with each other. each of the communities' ceos, many of us, we talk daily and multiple times through the day. and every single time, it's here's the lesson i learned. let's not do that. let's do this. have we thought of that? it's been very enlightening to

see a community -- community leaders, bank leaders, come together with one goal in mind, that when we get on the other side of this, that we're here and here to stay, not just the banks but all the businesses that support us because they are our blood line as we are theirs. liz: i'm interested to know the anecdotes of what people are telling you. i would imagine there's some real desperation here >> there is. i mean, we have a huge restaurant business here in the hudson valley, and you have owners that are working 12 and 15 hours a day just to do curbside pickup just to keep the lights on or keep a couple employees working. it's true desperation, and it happened so suddenly, liz, you know, there's a decline in the economy where we all start to see this happening. this is a tidal wave. we saw the shadow and then it was done the next day. nobody was working.

and to go from full throttle to nobody working, you know, thankfully we are in a tight community in the hudson valley, and we rally for each other, but this is going to have lasting effects. i don't know that there's an industry that will be unharmed from this, in some way or the other. liz: cheryl, thank you for taking time out. i know you have been bolted to your desk, taking all the applications. let us know how it goes on mondays when you begin actually processing them and writing the loans. a 150-year-old bank still trying to serve all these customers during a very terrible time. she said it was true desperation, almost like a tidal wave. one minute the shadow comes and then everybody is out of work. fox business will get a full recap of the first day of lending in the paycheck protection program when treasury secretary steven mnuchin joins

lou dobbs tonight. that's at 5:00 p.m. eastern. and you can bet that lou will get all of the numbers, and he will push for the real story of how it went, on this first day of rolling out the rescue plan. closing bell ringing in 46 minutes. dow jones industrials down about 402 points. let's get to what has been an ongoing ugly thread through this whole story, demand for ventilators and face masks has been off the charts, as the number of coronavirus cases worldwide surges past the 1 million mark. up next, the u.s.-based respiratory equipment maker, they make ventilators, now racing to triple its output to save lives across the globe. the company's ceo is here. we will ask him, once these things come off the assembly line, where are they going? "the claman countdown" comes right back.

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liz: governor cuomo has now ordered the national guard to move ventilators from other parts of new york state and to bring them to the new york city area. governor cuomo promising the equipment will be returned to their original locations in the state, after being used here in the u.s. or that hospitals will be reimbursed, but the need is at desperate levels here in the city. meanwhile global leader and respiratory medicine resmed are one of the top if not the top makers of ventilators has announced it is tripling its output of the machines and also scaling up ventilator mass production tenfold to meet the demand. resmed ceo mick farrell is

joining us now live. we're thrilled you have taken out some time now. i know you are busy. talk to us about where you stand, how many of these you are able to churn out. forgive me, i don't know, by the hour, by the day. >> liz, thank you very much for having me here. i wish it was under better circumstances. we're the number provider for sleep apnea worldwide. top five ventilators in every country we're in and top two in terms of noninvasive ventilation. we made last year over 2.5 million sleep apnea and ventilator devices. we made tens of thousands of ventilators last year. we are going to triple that production. we've got our plants in sydney, australia, and in singapore, running at full tilt and really importantly it is not a manufacturing problem, it is a parts problem. we're getting our supply chain to triple their outputs so we can get those ventilators, to italy, france, germany, united

states, and particularly as you said in your intro, the city of new york is one of the biggest demands we're seeing worldwide. liz: mick, i know that you are making these all over the world, and i'm sure you are getting calls from all over the world for countries that are feeling the wave of the coronavirus swirl around them and continue to march west. where are the finished ones going? the united states is desperate for these right now because we are the ones most hammered by the covid-19 virus. >> yeah, liz, it is a really good point. we have a global epidemiology ethical model that's looking at the flow of patients with covid-19. we saw the surge up in china, where we were there, providing ventilators in wuhan across china. we saw the surge in south korea and taiwan and singapore and those have levelled out now, as the virus has moved to europe. we're in the midst of supplying italy, france germany and the

u.k. through the national health service and for the last four weeks we have been working with the u.s. federal government, with fema and with state governments across the united states and in some cities, big cities like new york city and directly with hospitals. we're doing everything we can between ourselves and our competitors to triple manufacturing here, to triple production and really importantly to triple distribution of not only the ventilators, but also the masks and the tubing that's needed for the patients so they can rest while their body fights covid-19. liz: i'm sure you heard that president trump had hinted that he was angry with 3m, minnesota mining and manufacturing because he hinted basically that they were getting sort of higher bidders coming in for their face masks, and they were sending them to other countries. i hope you guys i would imagine you're not doing that. but can you tell me, have you been contacted by other countries who say you know what? we'll double whatever the u.s. is paying. what do you say to them? >> yeah, liz, look, we are very

focused on the ethics and the epidemiology and the science of the surge of covids 19. our philosophy is if a person is suffocating, they need to be treated with a ventilator. we are keeping our prices pretty steady. shipping rates have gone up incredibly high. consumer parts are tough to find. so there are some surcharges of things that are beyond our control, the costs, but our goal is to keep our prices at fixed contract levels because this is a global health crisis and companies like ours and our competitors are all stepping up to do that, and we've partnered with the white house. along with five other manufacturers of ventilators, given some priority on the supply chain. we have priority on some very specific parts, and the white house has really helped us with

that and we're working with fema and state governments to make that happen. liz: well, we cheer you on, mick. you and the team over at resmed and not that this is a priority right now, but the stock has been up 48% year over year, whereas the s&p is down about 12%. so good business equals healthy stock price, at least for the moment. mick farrell, thank you. resmed is the company. we've got 36 minutes before the closing bell rings. the covid-19 storm clouds are still swirling around for the airlines at this hour. american airlines is really struggling at this moment. they are cutting their international summer schedule by 60% as non-essential travel orders increase globally. this as united airlines president says outbreak cancellations are costing his company alone 100 million dollars a day, in lost revenue. american and united airlines both sinking into the close. american's now a $9.24 stock,

down 8% today. ual down 4 1/4%. from the skies to the airwaves, up next, taylor swift's new at home gig with one of the biggest names in radio. that and more coming up on "the claman countdown". stay with us. isn't a straight . 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.

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she's taking up a new sirius xm at home deejay series. the pop queen is starring in an episode of the new series called hits one and chill. taylor playing her favorite songs as well as the most requested hits all from her home. there are others on the list to take turns as stay at home dee jace for the series. -- deejays for the series. not enough to help sirius stock at this hour, down to $4.45 right now. speaking of the stay at home movement, that's forcing the market's biggest brands to make some very difficult decisions. cheryl casone has the detail in the fox business brief. >> that's right, apple, let's start with them, turning sour today, credit suisse cutting profit estimates and slashing the price target by $30 to 260 on shares of the iphone maker due to the coronavirus crisis. this as apple management has

told staff it is going to extend its u.s. store closures through early may while keeping its work from home policy quote flexible as lockdown orders increase. dave and busters looking to sell a stake of its arcade and dining empire to private equity to bolster its finances. dave and busters business coming to a standstill amid the outbreak. 173 of its venues shuttered since march 20th. and investors sending back shares of the real real this hour, moving to the side lines on the second hand e-commerce giant as competition in the luxury market is heating up. that threatens the retailer's profitability time line. the stock down almost, a little more than 9%. coming up next, an innovator tells liz if the coronavirus is going to be the final nail for paper money. "claman countdown" coming right back.

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liz: on a day when rescue loans are starting to float as small businesses nationwide as we speak, there's a tech company that's already giving out loans to stressed out and needy consumers some who have lost their jobs that allows them to shop on-line at thousands of stores but pay for the items on a schedule of their choosing. the co founder of paypal and founder and ceo of this fascinating company that's giving the loans but no late fees. welcome to the show. thank you for joining us. people are exchanging money without having to leave their homes or touch paper money. it's been a savior.

i have to ask you up front, will the coronavirus be the death of paper money as we know it? >> thank you for having me. i don't know if it will be the final nail in the coffin but it is going to push forwards the paperless money movement which i think is long overdue. there's way too much that travels on a crumpled up dollar bill. i think it is a good thing to get rid of paper money finally. liz: let's talk about what you have been able to do, under the best of circumstances, you had a lot of people signing up for this because it is a very generous way and a comfortable way for people to buy items they want and need but pay for them on their own schedule. how has the coronavirus where everybody is either staying at home or quarantining, but still need to order things on-line, changing your business or at least helping your business?

>> it is a very very mixed bag. retailers obviously are going through in some cases an apocalypse of their own and in many cases a reinvention. on-line retail in some places down just like retail is, but in some places it is booming. things that make your home more comfortable to be in, to stay fit in, those are going up. like tickets you buy on-line to see a concert or to go some place, those are falling off a cliff. we work with every retailer type in the industry. we are seeing the ups and downs every single day. the demand for things that keep you fit at home is skyrocketing is good news for american wos are trying to stay -- is good news for americans who are trying to stay fit and go back to work as healthy as they were. liz: you have partnered with peloton, a whole bunch of other companies, expedia, the real

real, again you talk about a mixed bag. expedia has no doubt been hammered because travel has come to a complete stand still nearly, but peloton is doing very well. let's say i am stuck and said i was going to buy a peloton, now i'm going to buy it but my hours have been cut or i've lost my job. how does buying it affect my ability to actually get the peloton bike? >> it is on the idea of responsible borrowing, responsible lending, we don't chart late fees or hidden fees -- we don't charge late fees or hidden fees. this has always been our mission. every time a person applies to borrow money to finance a peloton or tickets to travel, we assess their ability to pay us back over time on the assumption that we won't make money because they stumbled, we don't make

money when someone makes a mistake. we will very clearly tell them hey we think this is possible or not. in all the circumstances, once we sign up for that transaction, we will never charge you late fees, and if you're a day or two late because you were trying to make it work out, we won't benefit that. i think that's why consumers have liked us so much over the last eight years of doing business. liz: the last eight years, max, and you know this, have been a bull market and the best economy in decades and decades. how is this going to work for you starting this past february? i mean what's your default rate that you're seeing? and what are you going to do if people simply stop paying? >> you know, i can give you an honest answer that anyone in this industry will give you that they have no idea what it will

be not today but three, six, 12 months from now, it all depends on the shape recovery to come. our default rates have always been excellent, better numbers than credit card providers. we are still seeing excellent numbers, but we are seeing areas hit by coronavirus are starting to suffer. the real question isn't what's going to happen tomorrow, it is six, nine, 12 months from now when these people come back to work, how soon can they start? our job is to work with them to make sure we are there for them if they're stumbling, they are having a hard time paying us back, we need to make sure we're there to help them out and figure out a different schedule or some other tool to help them eventually get back to current. liz: you know, when you were a student at university of illinois, you knew you loved computers, and you knew that you felt that this burgeoning internet at the time it was just in its incipient stages was really going to be something,

but you've really with paypal and now affirm focused on the sector of on-line payments and different ways to pay for things. but for every winner, there's definitely a loser, and that's what i want to bring back to when it comes to paper currency. you talked at the beginning about how it travels all over, the germs that are on it. you know, there were reports in china at the height of the crisis in wuhan where they were washing yuan, they were washing or burning currency. have you heard anything like that? and how does that affect a company like yours where you don't even deal with that? >> you know, i think it's both great for affirm and great for society. fundamentally paper money is just terrible. in addition to its health challenges, it is the tool for everyone from prostitution to money launderers, to criminals, not a whole lot of good things i can say about paper money other

than it is a visual representation of wealth and that's way past due, stop using it and go to contactless pay. there are a million different option out there and cash is the worst. as far as i'm concerned there is a lot more about the overall industry and finally get rid of paper money and go with electronic payments. also going to electronic currency will -- [inaudible]. liz: i love your thinking, max. thank you very much. you know, there's some people who held on until they felt more comfortable. we've seen people start to get cash out of their atm machines and hide it in their homes because they are frightened, but perhaps when this passes, we can all look forward to what will be the future of money. thank you very much. >> thank you for having me. liz: the cofounder of paypal and the founder and ceo of affirm. social distancing success,

unmasked, with about 19 minutes before the closing bell rings. dow jones industrials down 471 points. new location data monitoring from google shows a wide range of decreases in retail and recreational traffic. early hot spot, italy, seeing a 94% drop-off while california leisure business fell 50% and new york store visits dropped 62% due to lockdown orders. google social distancing monitoring bringing us renewed privacy criticisms for the tech giant. that stock today down 3 1/2%. the biggest names in oil, they have got a talk right now with president trump tat white house, as saudi russian price war cools off, what energy executives are saying right now. "the claman countdown" is coming right back. ♪ wash, washy wash, washy wash ♪ ♪ wash your hands

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liz: oil demand has virtually dried up as shelter in place orders all around the world have very few people driving. now, consumers love the price drop, but big oil hates it, obviously. they have come face-to-face with president trump at this hour, in an effort to prop up the industry. the u.s. oil and gas industry has been absolutely pummelled by the dual shock of saudi russian output battles and slipping demand amid the coronavirus pandemic. blake burman is standing by with details. what's going on inside the white house right now? >> yeah, i was just looking at my notes, liz, because we are getting information from inside the white house, as this information is clearly ongoing right now, with the president and top executives from within the oil industry because the pool has been let in, which means we are getting some quotes from the president, as this is ongoing. first off, this is sort of a who

is who of within the industry right now, sitting down with the president, vice president, members of the administration, senators, and the like. for example, the heads of exxon, chevron, occidental petroleum, industry representatives as well, you name it, they are there. the president started off by saying at one point and i quote we're filling up the national reserve as you know. he goes on to say at these prices, you'd think we would want to fill up every cavity. the energy secretary even just said at one point as they are going around the table now, liz, that there's a potential, quote, negative price, meaning that those who are producing the oil might be, quote, paying us on filling the reserve. there are a whole lot of angles to get into, liz, and we expect to get more headlines coming out of this meeting. when you look at what's going on, first off, the russia saudi arabia angle. putin today suggested that there could be 10 million barrels worth of oil cut on the world

markets, but also suggested that the u.s. would have to be a part of that. you wonder how the folks inside the room would feel about that. then there's this issue of potential terrorists, might the administration counter oil being imported into this country, with -- with tariffs as an offset. i'm told many in the room that they would be against a measure like this. one of the folks inside the room is senator kramer of north dakota he even floated the idea just the other day that maybe the refineries should only be able to produce crude oil that is produced here in the u.s. and not oil that is imported. i'm told by the folks who represent the refineries they are against that measure. that is something that they do not feel is feasible. when you talk about the american petroleum institute, they are taking the position, liz that they feel the market should sort of run their course on this thing. for example, a spokesperson telling us today quote we're not seeking any government subsidies or interest specific intervention to address the

recent market downturn at this time. so bottom line here, liz, you've got the president, his team, members of the administration, the who is who within the oil and energy industry right now seated in the cabinet room trying to figure out why might be the next steps, what they do want and don't want, you have to look abroad as well as the president has spoken to putin, the saudi crown prince in recent days as well. we have seen this in the recent weeks liz where the president brings leaders of industry in and they sort of go around the table. i think this could be one of the more interesting ones we have seep over the last couple of months here, especially as the coronavirus pandemic is played out and played out throughout the united states. liz? liz: they may be failing to take into account one thing that the president and american oil producers have been trumpeting and that is that we are now the world's largest producer of oil and gas, and therefore, for them to take, you know, product off

the table by 10 million barrels a day, they're going to say what are you guys doing in the u.s.? i mean, that's to be expected; right? >> right, and yeah, when you talk about vladimir putin's suggestion today that 10 million barrels -- remember the president went on twitter or earlier this week, it's all running together at this point, saying, you know, maybe there could be the 10 million barrels which putin talked about and then the president even raised that up to 15 million barrels but vladimir putin today said or at least suggested that the u.s. would have to be part of that. it seems like this is a very public negotiation that is taking place right now, liz, and keep in mind on monday, russia, saudi arabia, and those interested parties overseas are expected to have a meeting of some kind. it is all playing on stage very publicly right now. it is in the cabinet room right now. we will keep an eye on this. liz: we are getting the

two-minute warning. as soon as we get the tape, we will bring it to our viewers. blake burman, thank you. i want to let people know that oil is up about 12.6% right now on this news. up 25% this week. but of course it is still at about $28.50 a barrel. we were at 55 just months ago. all right. let me get to cheryl casone right now. 9 minutes away from the closing bell. we have got chewy getting swatted on the nose despite reporting a narrower than expected loss over the latest quarter. the on-line pet supplier beating on revenue saying sales are also looking pretty good. what else do you have for us, cheryl? cheryl: you know what? i have winners and losers. it's been quite a week, liz. let's get to the winners. you've got chevron is actually one of the winners that we're looking at on the dow right now. also taking a look at pfizer, that stock is one of the winners for the week. and again, just looking at the week right now. also wal-mart another dow winner. some of the losers, boeing, american express, so there you go, those are the three right

there. and you can see right there in middle raytheon technologies down about 18%. now, let's go over to the s&p 500 and take a look at what we've got there because there's several names we're watching. let's start with the winners, devin energy, their ceo supposedly is in that white house meeting. you have halliburton and you have diamondback energy right now. we're watching those. to the losers on the s&p, take a look at carnival corporation, a stock you have highlighted several times on your show. that stock for the week down 40%. also live nation and kohl's down 34%. kohl's announced this week they were going to obviously close more stores. we've got winners and losers. what can i say? the good with the bad, as the markets always go. back to you, liz. liz: cheryl casone, thank you. as promised we now have the tape coming in from the white house. the president meeting with oil executives. let's listen in. >> global economy, incredible thing that's happening, we had

the greatest economy in the world, probably argue the best ever. everybody was doing the best ever and then all of a sudden they said you have to shut down the country and have to shut down the world because the whole world shut down, not the country, the whole world shut down, 151 countries probably it's higher than that. that was as of a week ago. so the entire world is shut down, trying to get rid of this scourge, and we'll do it. i thought what i might do is go around the room and you just introduce yourselves to the media real quickly, and then we'll have a discussion afterwards. you know our 2.2 trillion dollars relief package includes provisions to allow businesses to deduct their losses this year against taxes they paid in previous years, a lot of liquidity and a lot of companies need the liquidity right now. hopefully we're going to be back in business very soon. we're going to be open very soon. this country wasn't built to be closed. and essentially we have a closed

country. nobody's ever heard of a thing like this, but this was -- the professionals says not since 1917 has there been anything like this. 1917 was a time when i guess you could say 50, 75, or 100 million, there are different estimates, people died. think of that, 100 million people died. they had no communications. they weren't able to shut things down like we are doing. that was a plague. that was a plague. started here actually, went to europe. we were badly affected, but europe was really affected. so that was the worst. so not since 100 years ago, more than 100 years ago has a thing like that happened. it is an honor to be with you. i know most of you one way or the other. some of you i know, but i know all of you by seeing you on the covers of all the business magazines. you have done a great job. we'll work this out.

we'll get our energy business back up. a thousand percent. it is a great, vital business, and honestly, you have been very fair. you have kept energy prices reasonable for a long period of time. we've got a long period of time with very reasonable energy prices. i want to thank you all for being here, and maybe we'll start with mike. please? >> all right. [inaudible]. -- support healthcare providers, first responders and all the other vital industries to keep our economy going. >> thank you, mike, very much, appreciate it. >> [inaudible]. thank you for allowing us to be here today. thank you for what you are doing for us >> thank you very much. >> -- [inaudible] devin energy, thank you very much for the leadership that you're providing during this challenging time. you're the right man at the right time to balance all the priorities and we're going to be back. thank you very much. >> we'll get it done. thank you very much.

>> mr. president -- [inaudible] phillips 66. thank you for your great leadership in this pandemic. [inaudible] -- stimulus package, really for the american economy. you are employees were working to provide energy. >> we think it is going to come back quickly. it's ready. we're ready. we've got the right we are working on -- we will be looking very seriously at infrastructure package. it is so important for our country, as of this moment, we have 7 trillion plus in the middle east for one reason and we don't put money into our own country. so it will be a big package on infrastructure fairly soon and i think it's fairly important and it's great for you, and great for everybody. >> mr. president, with exxon mobil corporation i'd love to add my thanks for your leadership in this as well and say all of our companies are

lined in your objection to get your economy moving and make people's lives around the world better. >> great job. thank you. the continental resources, thank you for having this meeting, i think this is so timely and necessary. we really appreciate your leadership, also the relationship with the saudi and the prime minister in the conference. and also about a mer vladimir pw those have not been easy at times but this time is particular you need it. i represent our company as well as energy producers alliance. and were about 10000 companies of individuals, mostly independent producers. >> great job you are doing. president putin and the crown

prince want something to happen badly, certainly terrible for them what is happening too. so they want to see something happen, i have spoken about that and we will tell you about that. thank you very much. >> taking mr. president, jeff, founder and chairman, or distinction is where private company, this is the company that is placed in houston, domestic only production company leonine really here today to represent the independent energy companies, the family-owned businesses that are in this industry and to give you really that perspective and add to the conversation. thank you for your leadership. i appreciate it. >> thank you mr. president. energy transfer, we are the only company, we try to do business with everybody in this room and i think we successfully do actually. it is an honor to be here and an honor to be in this room.

>> everyone loves that guy, right. thank you very much. great job you're doing. >> he is a wonderful person and a wonderful politician and he wants to see the industry get strong again. kevin did you have anything to say. >> they stand for doing this. by you reaching out b with president pruden and the crown. , they improved, you're looking at a lot of jobs and a lot of these are small businesses that work with a small individuals. your action was to sign the cares act to getting the small business loans out is going very strongly. not as it's needed. but the american economy, the greatest strength of energy provides us. he is a great job, and worn partly gives us energy independence. it changes the whole dynamic around the world. thank you for your leadership.

>> thank you kevin, i just said bank of america is really stepped in, they have done a fantastic job today. >> 10000 jobs. >> bank of america has been unbelievable and i want to thank them and all of the community banks and the smaller banks that have been moving a lot of money, it's all about the paycheck and nobody would've believed we could've done. it is a number of hours but the numbers are far greater then we would've anticipated. it is been really great and thank you to all the banks that particular the bank of america. they have stepped up and they did it in no big deals, they were not making a big deal out of anything for that was terrific. i think what we want to do, john, i know how you are so involved in this coming from the great state of texas, would you like to say a couple of words. >> taking mr. president and than