and amazon are your biggest percentage gainers today. coronavirus winners, we've got marathon oil hanging in there as most oil stocks have gone down. tomorrow, gene scalia is on the task force and will be here. meantime, i hand it off to my colleague, liz claman. liz: i'll take it. you know, i know it's been really rough, charles, but as we watch these markets, we've got to hope, right? we just have to. all right. bleak figures, though, that's what's sending markets lower as we head into the final hour of trade, as earnings season opens with huge question marks hovering. the u.s. coronavirus death toll is now the highest in the world but positive stories abound. how about this one. from 12 tennis courts the a 100,000 square foot hospital in just 14 days? yes, the billie jean king tennis center, home of the u.s. open, converting to an emergency hospital with a major bank helping to do it.

a fox business exclusive with the ceo on the much-needed money the french-owned bank threw in to pull it off in a new york minute. plus, the restaurant industry paralyzed by the coronavirus lockdown but the chipotle mexican grill ceo still has customers lining up around the block in their cars. brian nichol with us live on the successful shift from casual dining to curbside pickup among the covid-19 challenges. lol surprise dolls were the hottest toy on the market last christmas but could next year's visit from kris kringle already be in jeopardy? we have the ceo of lol and bratz dolls on helping first responders even as his family member clings to life and his business is a little rocky. it's a small business rescue loan money now slowing and when we might all find out what warren buffett is doing with his huge cash pile. less than an hour to the closing

bell. let's start "the claman countdown." liz: all right. we just have gotten this breaking news. new york governor andrew cuomo moments ago announcing a working group made up of neighboring states who will collectively decide when to reopen their states which have been closed to business from the coronavirus crisis. in a conference call with leaders from new jersey, connecticut and three other east coast states, cuomo said deliberations will begin tomorrow on a coordinated plan to reopen the region as soon as possible and as you look at the dow jones industrials, yes, we are down 436 points but the low of the session was a loss of 624. so maybe a glimmer of hope is helping move these markets off the floor. ford's announcement it is making hospital gowns out of airbag

material means so much to the medical community but very little to the investment world at this hour. look at ford shares. they are stalling out after the automaker forecast a pretax loss of roughly $600 million and ford says it expects revenue to plunge about 15% from one year ago. the auto giant whose stock is down nearly 5% to just $5.11 blames the coronavirus for depressing sales and production. makes sense. nobody's driving so they're not thinking about buying cars. no appetite for grub hub shares, either, after the food delivery company said it plans to reinvest second quarter profits heavily into programs that drive business to its restaurant partners, particularly the independents. the stock is, believe it or not, off its lows and it's still down about 12%. grub hub's ceo broke the news of its charitable giving on our show wednesday, but the company also had to withdraw its first year revenue and ebita outlook. let's look at cruise

operators if you can stomach it. they are sinking again after the centers for disease control extended a no-sail order for cruise ships for another roughly three months. in response, carnival had to cancel all north america cruise itineraries through the month of june. carnival down 7.8%. norwegian down 13%. royal caribbean continuing to get hammered, down 15%. investors keeping an eye on berkshire hathaway but more like berkshire hathaway ceo warren buffett because he's sitting on a $128 billion pile of cash on hand right now. during the last financial crisis in 2008, he bought up preferred shares of goldman sachs and general electric which paid back berkshire in a most handsome way so all of you seeking clues as to what the oracle of omaha has been doing with the cash pile may get answers at the berkshire virtual annual meeting. it will happen on may 2nd

without the huge crowd of 35,000 to 40,000 people. the markets are kicking off a major earnings week on a sour note. four dow members and 31 companies in the s&p 500 are set to report this week, including major banks jpmorgan, wells fargo, morgan stanley, bank of america, citigroup and goldman. earnings per share for these financial names are expected to fall an average 24% from just a year ago. speaking of goldman sachs, the financial institution has now decided that the worst of the market rout is apparently behind us so goldman is abandoning its near-term downside s&p level of 2,000 and reiterating its year-end target of 3,000. s&p 500 stands right now at, i don't know, let me see, sorry, my computer as we found in many of these cases, the s&p stands at about 2742.

over the weekend, we read this article that the co-founders of jackson hole economics have made this case that the recent market rebound, last week we were up 12%, was a head fake and that the worst is not over. why? well, the recent market rally does not take into account, jackson hole says, the size of job losses, the asymmetry between the massive and rapid layoffs relative to rehiring that will tentatively happen, and many unknowns that may happen once social distancing begins to relax. will this recession, because we know we are in one right now, will it be short and shallow or are we set for a long-term extended collapse? let's get to the floor show. i want to start with scott. scott, which theory are you following, and based on that, what are you buying? >> i think you can take a little bit from both. i like the fact goldman just racheted down the expectations of investors thinking we will be off to the races at 3400 or

all-time highs. they are saying maybe we can get back to 3,000. but that also doesn't mean we might not revisit lower prices. yes, they took away their s&p 2,000 where you hear everyone saying we are not fwogoing to retest the lows of 2200 but we are 20% off those lows. on the other side, jackson hole are saying we just rallied tremendously so be careful entering here because the coast isn't clear. you have to wait for good entry. i still think you can only put long-term money to work into weakness, not after rallies. i think the market is giving everyone enough time to distinguish between the haves and have-nots. you are seeing that today. strategic traders are looking at netflix. their business is enhanced because of this crisis. amazon is having a big day. microsoft and apple are holding in. then you said the cruise lines are in trouble. we have had enough time to adjust on the names that will benefit from what's happening here, whose business models are in force but then also if you are putting long-term money into the big caps, s&p cash, do it

strategically into weakness only over time, don't chase rallies. take a little bit off into them. liz: you know what, i think that's really interesting because when you look at scott's picks, phil, and you just ask yourself what did you do this weekend, a lot of people ordered from amazon and watched netflix. >> they did. you are locked in your room, what else you going to do? that or play video games. you can throw in a few video game makers as well. there's no doubt those stocks benefited. i think in times like this, you got to look at what's going to benefit next. you don't want to necessarily chase these stocks up, because they have done very, very well. maybe look at some that are going to benefit maybe three or five months down the road by the reopening of the economy. some of the picks, for example, dow chemical. look at all the factories in the world basically got shut down. a big supplier of the chemicals that run those factories at dow chemical, their stocks have been beaten up pretty good. when the world comes back, dow

chemical is going to be servicing a lot of these manufacturing plants. they are going to benefit very well. even during the downturn, they are going to continue to pay a strong dividend. that might be a play. yes, there's no doubt, there are so many stocks. look at, for example, abbott and pfizer and some of these drug companies that are going to benefit from this, but you will find what's going to happen after that. liz: well, as we see today, suddenly it just doesn't seem as positive, even as cuomo says we are already going to be deciding when we might reopen. look at blue apron. this is a stock that is up another 2.6%. the meal kit delivery company has had an incredible year to date, up 76% for aprn. you know, you are looking at some of these names that very much speak to the covid economy. guys, thank you very much. good to see you. dow jones industrials up 486 points right now. the closing bell ringing in 51

minutes. stocks, yes, are in the red but credit suisse decides we like dunkin. so it's raising shares from underperform to outperform, saying the 100% pure play franchise model of the dunkin donuts parent should help it avoid mass closures but that buy call is not helping shares at this hour. dunkin down 3.4%. $55.95. from coffee and doughnuts to pesos, the virus brought countless restaurants to their knees but chipotle mexican grill is in fiesta mode. up next, chipotle's ceo on how he's rewriting his recipe book to keep business from flying out of the frying pan and into the fire. you got to hear this story. that's live, next. turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable,

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liz: fast casual restaurants have absolutely gotten crushed amid the coronavirus pandemic, but one chain is climbing out of the hole way more quickly than most others. we are talking about chipotle mexican grill. take a look at this chart. yes, it is down year to date. in fact, i believe it's down about 12% year to date.

but since the beginning of this month, since the beginning of april, chipotle has spiked some 14%. actually, today it's down a bit so that's more like 12% and change but what is chipotle doing correctly? let's bring in the guy who would know. chipotle chairman and ceo brian niccol joins us via skype. good to see you. many restaurants tried the takeout route but after just a few weeks said they really couldn't hang on. what did chipotle and you guys do to make it work? >> yeah, hi, liz. thanks for having me. first and foremost, obviously as we got the information and better understood the covid-19 issue, we really centered in on making sure that our employees, our customers would be safe and the chipotle experience could be delivered. fortunate for us, we already had a lot of food safety and wellness practices in place so we were in a good position based

on all the information we got from the cdc on what we needed to execute, whether that be gloves, purell hand sanitizer in the front of the restaurant, back of the restaurant, the hand washing practices, our wellness checks, where only healthy employees were working. we had benefits around that with paid sick leave. so we had a lot of the right things in place and obviously, we have added to that over time in regard to increasing pay for hourly workers and bonuses for our managers and field leaders and we have delivered that as well. so then we have upped our game on all of the food safety practic practices. we are now in the process of getting masks for everybody. that will be another level of health and wellbeing that people can feel confident while they work. the other thing that we did is fortunately, over the last few years, we have been investing dramatically in our digital

business and we have a separate digital grapevine which allows us to have dedicated teams with the ingredients to make for those orders coming in via the web and app which people can pick up in pretty much a contactless environment as well as have it delivered if they want to be contactless as well. i think the combination of the ability to invest in our people, continuing to invest in food safety and well nness and pivotg to our digital business has been the driver of why we are where we are right now. liz: you know, we are all huge fans at "the claman countdown," we are always doing takeout, we love chipotle. one of the things i was really thinking about with this company, particularly during this time, is that it's a very handsy assembly line, so to speak. you have one person filling the burrito bowl with the rice, then you hand it over to the next person and the next person and

the guac. what has to change and what has changed for you all, especially considering if we are doing the six feet away issue, what do you think after we are through this nightmare, will permanently change about how chipotle does their burrito bowls in all of their business? >> fortunately for us, beyond just the distancing, we have already put in practice the way we prep our food so that it's minimal amounts of people touching the food. we have also got the practice of hand washing and also wearing gloves during every task at hand so when you encounter people in the restaurant, you know, their hands are washed, they have got their gloves on, and you know, fortunately we practice the distancing so that we can be part of the solution and do our

part and not spreading the coronavirus, but we are very luc lucky. the food is one that is getting prepped correctly, cooked correctly, we use true culinary practices which allowed us to have a really safe food experience for our customers. liz: what sign will you need to tell you now we can have dine-in, we can have people sit down at the restaurant in the future? is there one particular voice you are waiting for, or will it be a sign that you see okay, now we can reopen all these restaurants? >> yeah, obviously we are going to follow the direction of the cdc and the authorities on this. we want to make sure we're doing our part to provide the chipotle experience with people, but you know, we are going to let the experts lead us down the path of when it makes sense to open our

dining rooms and the best way to open those dining rooms up. fortunately for us, a lot of our food is prepared in such a way where the burritos are packaged in foil so once you make the burrito, it's got that foil protection, whether you want to eat it in the restaurant or on the go. when we reopen, the ability to eat in the restaurant, you know, we will make sure we follow through on those practices of sanitizing, cleaning, really giving people confidence and comfort to do that, but we are really going to wait for the experts to give us the direction on when it makes sense and what are the additional practices we should put in place so that everybody has a great experience and we continue to do our part in this crisis. liz: okay. i find that very newsworthy. you will wait for the cdc to issue the all-clear, correct? >> well, i think it goes hand-in-hand. usually the way this works, at least we have seen this happen,

it is the cdc shares an update and then the local governments, whether it's the municipalities, counties, states, provide guidance on how they believe is the right way to operate in their state or their locale. so we will continue to follow that and you know, i think so far, it's been the right approach. liz: great to see you, brian. good luck to you and the whole team. once my kids hear about this, they're going to be waiting in the drive-through line. brian niccol, ceo of chipotle. good luck to you guys. thanks so much. we have 39 minutes before the closing bell rings. we are coming right back with the toy company where the ceo is not only trying to help the first responders, but trying to help his own family member who is extremely sick from the coronavirus.

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liz: burlington coat factory shares shivering after announcing they are furloughing nearly all of the 47,000 store and distribution workers. burlington's ceo also announced he will forfeit his salary in the short term and the chain's executive leaders will all take a 50% pay cut. we are looking at shares taking about a 6.66% cut here. $165 and change. the company's more than 720 stores do remain closed because of the coronavirus pandemic but the biggest name in e-commerce is putting up another huge help wanted sign. cheryl casone is in the fox business newsroom. amazon is hiring more people now? cheryl: you bet. take a look at amazon. this is an incredible story. several major headlines are crossing on the company. first, the hiring sign is out

for them. 75,000 more workers. they are hiring those workers amid the crush and unprecedented demand and they are putting their money where their mouth is. they will spend $500 million to do so on wages. stock a leader today for the s&p, one of the strongest performers on the nasdaq. take a look right now at shares of amazon. up about 6.25%. look at that, over $2,000 a share. and there's more headlines on amazon to bring you. the online retailer going to begin to allow third party sellers on to its platform to resume shipments of quote non-essential items. another sign they are ramping up to meet the crush of customer demand they are dealing with. fox business reached out to amazon when the reports first crossed. they tell us quote, later this week we will allow more products into our fulfillment centers, products will be limited by quantity to enable us to continue prioritizing products and protecting employees while also ensuring most selling partners can ship goods into our facilities. it's a space problem, guys.

finally, amazon also said they are going to have to relegate all new online grocery customers to waitlists. that starts today. they are trying to add capacity to add more grocery pickup locations. now they have 150 pickup locations for whole foods. i got to tell you, there's a whole foods down the street from our midtown headquarters. they are shutting that store down for the week, trying to deal with this crush of online orders and doing the best they can, hire as fast as they can. the stock really powering up on all of the news crossing today on amazon. liz: yeah. amazon up 6.33%. not bad. good to see you. thank you so much. all right. we have 32 minutes left before the closing bell rings. you can see we trying to climb back even more closely to the flat line. still down about 401 points but well off the losses of 624 points for the dow. aramark is converting its uniform services division into a full-fledged protective gear making operation for the front line. the philadelphia based company

ditching its lab coat production to focus fully on masks, isolation gowns and scrubs. that stock is down about 4% but props to them for kicking into gear to help our first responders, doctors and medics. when it comes to protecting the front lines it's game on for one of the biggest names in toys. up next, lol surprise toy guru isaac lar yian with an inside lk at how operation pacman is doing and how his enterprise is working around the clock to help hospitals even as he simultaneously deals with a desperately ill relative. that story is next. i have the power to lower my blood sugar and a1c.

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liz: so we've been telling you about companies from aramark to ford who have marshalled their resources for the fight against covid-19. now add toy maker mga

entertainment to the list. the maker of bratz dolls launching operation pacman, using its distribution connections to buy life-saving personal protection equipment at cost and then shipping it and sending it directly to the very hospitals that need the most, even as a member of the ceo's family is terribly ill and another has died from the coronavirus. we bring in mga entertainment ceo isaac larian. first, our sympathies for your cousin's mother who died already, and your cousin who, as i understand it, is hospitalized with the virus right now. how is she doing? >> thank you, liz. she is in critical but stable condition. i want to thank dr. dina daglian and dr. stuart dicheck for really taking care of her as well as other patients. she's in long island hospital. they are really angels. not only my cousin, but the front line hospital workers who are risking their lives to take

care of other people. they should be commended and i don't know how to thank them. liz: isaac, i can't believe you are dealing with the loss of your aunt and then the sickness of your cousin, and yet you are still using your company as almost a venue or assembly line to move not toys, because you make a lot of toys that are very hot, but to move needed masks and all these things. tell us what you're doing, and you are calling it operation pacman. >> yes. so liz, we launched mgae cares.org about two, three weeks ago and we have used our supply chain to bring in hundreds of thousands of ppe material. we have so far just in two weeks donated over 130,000ppe material

to 70 hospitals in usa as well as internationally, and we continue to do that. we are air freighting the merchandise. we have set aside and funded $5 million for this occasion and we haven't stopped there. i don't know if you saw what was in the news today, we have created these other, if you can see them, invented these masks that is literally being used right now at ucla as we speak, and we are shipping about 25, 30 of them this week and 75 next week and right after that, we are going full production in our ohio factory, 5,000 pieces a month. we are donating everything. we are not making a penny on it. we are donating these to the

front line. liz: bless you guys. people like you out in california, caring so much about the world, i love it, especially here in the u.s. you know, i know some of your supply chain goes through china. the president has said that the coronavirus will accelerate the de-coupling of businesses that are still shipping in materials from china. are you seeing anything like that for your business right now? >> well, it is really chaos, frankly. we are getting merchandise, factories are pretty much back to work but unfortunately, on these medical supplies, we are importing for charity and donation, we still have to pay duty on it which is a double whammy and i hope if the president or someone is listening, they should relax the duty on ppe material for awhile,

because especially not only mga, a lot of other people are importing and donating these to the front line hospital workers. but the toy business has been affected, i'm sure every other business has been affected. we have been affected, our business is down and hopefully, it will come back. right now, i'm not focused on business, i'm focused on really seeing what i can do for humanity. you know, there is a persian poet from 800 years ago who wrote a poem that says we are all members of one humankind. there are no borders. this is what i am living by. liz: isaac, you are a friend of the show and you are my friend. we appreciate all that you're doing for doctors here in america and thank you so much. isaac larian. may next holiday season, you be back to work creating the lol

surprise dolls and bratz dolls. good luck to you. thank you so much. take a look at this. you won't believe this. what was the famed billie jean king national tennis center in new york, known for hosting the u.s. open, is now a 470 plus bed hospital. in just 14 days, the 12 practice courts in flushing, queens have been converted into a temporary hospital to absorb the massive number of patients stretching existing hospital networks. more than 27,000 queens residents alone have tested positive for the virus, but one major bank, pnb paribas usa, immediately committed $1 million to help make that happen in a new york minute. joining us now in a fox business exclusive is the ceo of pnb paribas usa. thank you for being here. things are moving so fast these days. how did pnb's involvement in the

emergency conversion of the tennis center come about? >> liz, thank you for having me. first, you know, this pandemic is a human tragedy. my thoughts go to all the people impacted or affected by the vir virus. our communities are very important to pnb paribas and what you mentioned about the tennis center, is part of $55 million donations which will be allocated across 30 countries where we have a strong presence. the united states is one of them. the proceeds of these donations will be directed to hospitals in need and to the world populations. the special project you just highlighted, and we will be donating to the operations of the field hospital in queens at the usta billie jean king tennis center.

liz: i love it. i have been watching this hospital go up. mayor deblasio visited it. it seems like ages ago but it was just march 8th that one day before the tournament in indian wells, california was to begin qualifying rounds, you guys became the first to cancel a major pro sports event in the u.s. and because this is the first interview you have done since then, tell us what led you to pull the plug well before the nba, nhl or major league baseball did. >> it was really i think as a global bank, we have a sense of how this pandemic was already taking place in europe. the other dimension is we have a very close connection and relationship with tournament staff there. eventually this is their decision and you know, crisscrossing information and the very specific weekend you mentioned, a few cases took

place at indian wells itself and this is how we took this at the time unprecedented decision. looking back, i think that was the right thing to do. liz: absolutely. and you know, since you were well ahead in recognizing the potential severity of the virus as it pertained to the tennis tournament, tell us what you are predicting for the economic piece of this. gdp for the u.s., the eurozone and globally overall. >> well, i'm happy to share but maybe before we go there, making sure we don't put the cart before the horse here, you know, this economy was doing very well before the pandemic. the banking system is in a great shape, liquid, better managed, better capitalized, and it could have been a liquidity crisis. it's not. i think the central banks around the world and the fed specifically here should be commended. in terms of what our economies

see, it's a contraction globally minus 2.5%. for the united states we expect our forecast 2020 minus 5.7% for the eurozone being hit slightly harder, minus 8.3. obviously, this is changing every day as we speak. liz: oh, yeah. it's a work in progress, because we just don't know. but the latest numbers on small business rescue loans, that we've gotten and they indicate that banks have written about 941,000 loans for a total of about $228 billion. what's the ballpark number of applications bnp has accepted? >> well, here, if i look at the more broader picture here, liz, banks, this bank particularly as well, we assist clients and help them under these unprecedented circumstances. what they are looking for is

liquidity. on the retail side, i think this is what you are referring to, through bank of the west, we have been proactive in providing funding and delaying payments when necessary and bankers just joined the paycheck protection program, receiving tens of thousands of applications which translate into several billions of guaranteed lending. on the larger corporate side, we have been following the same, you know, mode in providing liquidity, a lot of liquidity, providing access to markets. in our case we can do euros, and given the extreme volatility, we have seen clients in high demand of being advised on hedging strategies across currencies and equities. liz: i would imagine. i want to thank you and bnp paribas for all the donations you made to helping build that

hospital in a new york minute and for lending to small businesses here in the u.s. great to see you. good luck to you. thank you so much. up next, charlie breaks it. don't go away. now the dow is down 270 points. we'll be right back. awesome internet.

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liz: closing bell ringing in about 11 minutes. yes, red on the screen but look at the nasdaq. it just turned positive during the commercial break. it is now at session highs. look at this intraday picture. this is a little bit of hope on a gray day here on the east coast. pouring rain, can you hear? we've got the nasdaq up 43 points now. low of the session, down 117. those are pretty good swings. all right. the coronavirus is causing

upheaval for businesses across the gloevenbe. that's all we have been talking about. but wework is now telling people the pandemic could work to their benefit? charlie gasparino joins us with more details on that one. how so, charlie? charlie: you know, we have been reporting this out because if you listen to real estate executives, wall street executives, of all the businesses that they are talking about facing real economic problems going forward, maybe even having to bankruptcy, this is what they are saying, it's wework. all the financial difficulties that involve the botched ipo by softbank, adam neumamn's exit, the fact they are involved in an office space sharing business that has gotten hit hardest in this coronavirus crisis. we have been talking with wework executives who say not so. what's coming out -- what came

out of our conversation with them, there is going to be a business model change. first and foremost, they are cutting back. there are going to be more layoffs. they are reducing the footprint that was established by neumann and all these businesses that had nothing to do with office sharing, they will get down to that core business. then it's how they sell that core business going forward which is really interesting. i think it's more than just a marketing plan, it is a new sort of business model. they will say this. listen, corporate america, you are downsizing, want less dense offices, we can supply that. you want people working from home because that's going to be maybe more of the norm in the economy going forward given the pandemic, we can do that. we are going to situate our office sharing spaces in a way that there is social distancing, people are spread apart, your workers will be less in danger of infecting everybody.

now, this is a leap of faith or is this a stretch? i will tell you we have been bouncing this off wall street executives, real estate people, they think it is. they think the company's got some massive problems. they had problems. wework had a lot of problems before the black swan of the pandemic hit and it's going to be a tough road to hoe for them. we should point out that wework, they deny, you know, vehemently they are on the verge of filing for bankruptcy which a lot of people are talking about these days. they are going to i think a $2 billion cash cushion, $3 billion line of credit for all the issues between softbank and them, softbank not sort of a tender offer to enrich its old executives, softbank is still there providing them with backup. so they're not going -- they say they are not going anywhere imminently and they have this new plan. we should point out some of this stuff will be unveiled tomorrow. it's a town hall meeting, 11,000

employees. they are going to give some update on their new business going forward, how they plan to go forward, tomorrow, i understand. we should probably be on that call. and it should be very interesting to see how they unveil their new look. they will tell you there's not a new business model. it's what they have been doing in the past only they are scaling down. i'm telling you, the plans they are trying to pitch is new, it's a social distancing office share space solution to your problems, if you are a big company and want to downsize your footprint. back to you. liz: well, yeah, i'll tell you, companies are changing the way they do business, in some cases forever. all right. charlie, good to see you. thank you very much. charlie gasparino. dow jones industrials down 362, with just seven minutes left in today's trade. today's "countdown" closer says fear of the fear gauge in the form of volatility is here to stay. get used to it. however, you got to get used to

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they're all possible with a cfp® professional. find yours at letsmakeaplan.org. ♪. liz: all right. there are two kinds of fear gauges. there is the pandemic fear gauge which is as an absolute driving force for the coronavirus since the first case in the u.s. and there is the vix, the volatility fear gauge. look at the spikes we've seen just during the month of march as covid-19 continues to grip the global economy, the vix this year is now up, meaning, fear has risen, a staggering 202%. today's "countdown" closer says, get used to it. that does not mean guide stone capital management david spika says you don't invest around it, right? david, what do you like here and why will volatility continue even as it appears maybe we're getting to the apex? >> sure, liz.

you can still participate in the market but the market clearly is not pricing in the real downside of this recession. we're talking 30% decline in earnings, 30% decline in gdp. 20 to 30 million people out of work. we think you need to be invested in defensive companies, high quality companies in the technology, consumer staples and health care sector will allow to you participate but will protect you on the downside. liz: you look at the health care sector. obviously this nation and most of the world was caught flat-footed by it but do you get the sense after this disaster has passed, that health -- did not get the becomep everybody is expecting? what will continue drive it once this horrific pandemic dies down? >> once this pandemic is gone, that will take a while you will get more aggressive securities take off. that will not be health care

sector but could be biotechs t could be energy, materials, industrials, more cyclical type companies that will be in demand once spending comes back. that is where you want to be invested when we start to bottom and turn back up. liz: yeah. it is a tough day today but do you see a u-shaped recovery, v-shaped, or check mark? i heard about the check mark, sharp drop and longer move to the upside? >> i think it will be along the lines of a sharp drop. we'll bounce around the bottom for a while and then a slow gain back up. i don't see a v recovery. there will be too many people out of work. consumers will not be ready to engage in the economy. they will be afraid until we get vaccine or legitimate treatment for this, spending is not going to recure. that could be several years. the economy will come back, but we think it will come back slowly. you will have to be cautious and very focused on identifying good companies to own in that environment. liz: gotcha.

david spika, good to see you. [closing bell rings] yeah, the dow and the s&p couldn't quite make it but the nasdaq looks to close higher by 39, 38 points. not bad to see a little green on the screen on this monday. that will do it for "the claman countdown." see you tomorrow. connell: wall street at this point gearing up for the next earnings season. as liz said, major averages closing off the lows of the session but for the dow, s&p, we're still down, coming off the best week for the s&p 500 in more than 45 years. that is where we are on a monday. good to be with you. i'm connell mcshane. melissa: i'm melissa francis. we're looking at the dow closing down better than 1%. this is "after the bell." let's get you to market live team coverage right now. blake burman has the latest from the white house. lauren simonetti is watching the markets and edward lawrence is inng