going to say. charles: of course, a lot of this depends how quickly we reopen the economy. citigroup put out a pretty positive note thinking maybe we can reopen a lot sooner than people expect. i hope they're right. liz: yeah. maybe we will start to see cars driving once again because it's all coming through, charles. i don't know if you saw this but we do have this breaking news. one of the most popular oil etfs is fighting to stay alive at this hour. the united states oil fund, uso, has been halted multiple times this session. looking at the intraday picture, it is down 25%. this as crude oil's falling knife still finds no catchers at this hour. the new june contract for west texas intermediate tumbling 41% in after-hours trading. it just kicked in. just a half hour ago, the may contract for wti, west texas intermediate, expired settling

at $10.01 per barrel. it did manage to scratch back about 126% of yesterday's 300% plus loss but energy has swamped the stock market over the past 48 hours, completely wiping out friday's 700 plus point gain for the dow jones industrials. right now we are looking at the dow swooning at the moment, down 562 points. that's good for a 2.33% loss. all three major indices are facing a second straight day in the red. could a lifeboat arrive within just an hour or two? word is congress is coming together as we speak to replenish the small business rescue plan with a fresh $310 billion round of loans. as some big banks, though, play favorites with the first tranche of money, non-traditional lenders are fast gaining more respect. we've got the chairman and ceo of one of them.

he has already delivered $2 billion to small companies and is ready, willing and able to do it once again. got to hear how he's doing it. and hollywood is on hold as the sopranos' prequell sleeps with the fishes. steph patt ernot is here on the dire state of tinsel town ahead of netflix earnings which come out after the bell. what it means for the future of film. and the brainchild behind super-hot brand detroit versus everybody has a new line to help small businesses in his hometown. unabashed detroit cheerleader tommy walker on the inspirational story of everybody versus covid-19. less than an hour to the closing bell on this tuesday, let's start "the claman countdown."

liz: all right. breaking news, we want to take you to a live shot of the white house right now. will it be air kisses or k.o.s? at any moment we expect to see new york governor andrew cuomo arrive at the white house for a face-to-face meeting with president trump. this comes after cuomo said he will be taking a regional approach to reopening parts of his state, meaning zip code by zip code. while the two have traded barbs in the past, lately they have exchanged compliments during the crisis. we will keep our eyes peeled right there on the white house for the governor's arrival and we will bring you any details the minute we are able to get them ourselves. that will be for you. check the dow jones industrials, down 552 points. we just got news from the cme which of course as you know is the world's largest futures trading platform, the cme has confirmed more than two million june u.s. contracts in west texas intermediate traded today,

that is the biggest one-day figure they have ever seen on record, ever. oil is not selling, obviously. you can see it on your screen. again, this is the june contract, losing 41% at the moment because people are not driving, there is no demand. car rental agencies, hertz and avis, collateral damage as well because hertz is actually laying off about 10,000 employees in north america. hertz down about 8%. you've got avis getting swamped in the tide, down about 6.33%. i want to kind of take a far left turn here. it's kind of a weird way to do this, but look at this. this is a company that makes titleist governmelf balls, golf equipment. the company has been cut to a sell and the price target dropped on the view the company will not see a full recovery this year.

acushnet is standing at $23.65. big blue in the red after ibm's first quarter report came out yesterday after the bell. the company withdrew its 2020 annual forecast but it also missed on the top line number so that stock is down about 3.5%. let's get to this oil fallout. it's really acting as a catalyst for other commodity drops, pressing investors to sell anything they are able to sell, particularly to cover their losses. they are turning to gold once again. gold stocks are losing quite their luster. tracking the price of the precious metal, we have anglo gold and gold fields, everybody is down. anglo gold down .25%. freeport getting hit 7%. let's get to this situation with uso, the massive oil exchange-traded fund, the etf, which in the last 24 hours has made a pretty dramatic move to

keep itself above water by au altering its original structure. they've got nowhere to put the extra stuff nobody wants to buy right now. even as u.s. secretary of energy dan brouillette told stuart varney this morning the u.s. is looking to bolster the u.s. oil stockpile, strategic petroleum reserve, some people refer to it as the spro, to offset the flooded market, you would think that would put a floor under oil prices. it has not. oil prices are still struggling to find a bottom and try and move up here. we do have crude oil still down about 38% to $12.65 a barrel. remember, yesterday it was actually negative. brouillette says the u.s. has contracted for approximately 43 million barrels that it would buy off the regular market, put into the spro and they do have the ability to store up to one

billion barrels, yet even as the energy secretary works with congress to expand the strategic petroleum reserve, what's going to happen to oil stocks when storage facilities top out? by the way, that could be as early as next month. to the floor show. raymond james energy analyst is the researcher who knows all about this stuff. we have john corpina joining us via skype. pavel, you say the problem is not necessarily the excess supply but the storage which is what we are hearing. we can show people video of the storage area at cushing, oklahoma. can't really see but they are almost full, are they not? where will, aside from the strategic petroleum reserve, where will oil companies be putting the excess now? >> so the fundamental problem is demand, as you noted earlier. 20%, 25% of global oil demand is offline because three and a half billion people are sitting at home due to the lockdown.

so that's the big picture. specifically in oklahoma, and in other parts of the world, storage tanks are getting very close to being overly full and when that happens, this is called oil on oil competition, prices can go completely haywire. we saw it yesterday with negative wti pricing. brent, the global benchmark, is not quite as haymarket at 20 bucks a barrel but clearly inadequate storage capacity is going to be a problem worldwide in the coming weeks. liz: let me just make a comment about brent, which trades overseas. that is that as we look at uso, lot of our viewers have in the past had money in that exchange-traded fund, u.s. oil company, so give me a sense of the better option there. bno traction bren bno tracks brent. is that the one to be looking at

at this moment? >> it is the brent tracker and essentially, right now, wti is almost a meaningless number. so negative $30, positive 10, this kind of volatility is not indicative of supply and demand. it is purely a relationship, what's happening with physical storage in this one place, cushing, oklahoma. it is much too narrow to focus on for the average investor. liz: john, there are two oil names in the dow jones industrials, chevron and exxonmobil. two out of 30. why is the dow down 600 points right now? on the phone: there's been a tremendous amount of pressure on the dow. you see the components that are weighing it down. i think the overall mentality is that what we saw yesterday in oil was something that we never

thought we would ever see in our lives. and we saw it happen and unfold yesterday and we continue to see this now the way oil is trading. my fear, my concern looking ahead just for right now is we're not going to get back on the roads, back on cruise ships, back on airlines. that 25%, 30% of usage, global oil usage, we are not going to see that come back into the market for certainly not may, i don't think we will see it in june or july. so as these contracts get pushed out, we might see this movie played over again. but as for the markets right now, this uncertainty for oil, the uncertainty for the pricing and the crazy volatility that we have seen in it, i think that's just adding some tremendous negative sentiment to our overall markets. we continue to look at the broader scope of things. earnings season really isn't playing a factor. it's not going to play a factor. economic data is not going to play a factor in our markets. it's what's the hot headline, what is the next headline. we have been dealing with this oil crisis for the last two days

of just this individual scenario. i think we are going to continue to see that and i think this is going to be our theme for the rest of the week. liz: john, pavel, thank you very much. we are watching the dow jones industrials as well, down about 624 points. but look at the s&p, down 86 at the moment. it is a tough day on wall street, with the closing bell ringing in 49 minutes. labcorp is one of the few names that is able to be in the green, as its in-home covid-19 test kit aimed at health care workers gets emergency approval by the fda. it is up 1.5%. you take it at home, you still need to send out the results to get them back. but in the meantime, complaints around the big banks playing favorites when granting small business rescue loans. yeah, they approve money for their best clients while kicking some of the little guys to the back of the line. could the answer for them lie in

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liz: all right. we've got some breaking news. a report that u.s. senate leader mitch mcconnell is saying he has reached a bipartisan agreement on $329 billion additional funds for the so-called ppe. we are hearing in less than an hour, let me quickly check the dow because this could affect the number. we are down 529 points. in less than an hour, the senate could vote on the latest coronavirus rescue bill. we had heard it would be $310 billion, now we are seeing $320 billion. we are going to get you the facts as they come trickling in because we have the most amazing team on the ground, on capitol hill. chad pergram heads it up for fox news. i promise you, the second we get it, you are going to get it. but as we watch the dow come up slightly off the lows, we are looking at big banks on wall

street and they are all in the red by anywhere from 2.5% for jpmorgan chase down to let's see, citigroup down 5.25%. some of these names are in the cross-hairs for not lending enough to main street businesses before the first tranche of money ran out. among them as we look toward the non-bank lenders, they didn't do it that way. they took first come, first served. among them is a company called ready capital, this is publicly traded. last week it announced it had reached $2 billion in sba loan approvals without, okay, this is important, without granting priority to its existing customer base. its usual clients. ready capital chairman and ceo thomas capasse joins us now in a fox business exclusive. good to see you, thomas. look, the complaint is that the jpmorgans and bank of americas of the world gave preferential

treatment to their bigger banking clients who sucked up more of the money, leaving the till dry for main street. how are you handling the applications you got? >> well, as a leading non-bank sba lender, there's 14 of us, we were number two in terms of originations last year, we focused broadly, we don't have deposit relationships so we focus, we open our doors broadly to in particular the smaller mom and pop, the local deli, the pizzeria, the nail salon, so just in terms of the numbers, round one of the ppp, we approved 40,000 loans which is number one in the u.s. it was about $3 billion in total approvals. and our average balance was only 73,000 versus 230,000 for the average in round one.

liz: okay. so little bit smaller but you began actually funding the money, different, okay, approved, great, where's the money, you began funding the money april 13th. is there anything that you did where you put any limitations on applications? like some of the bigger banks did? >> we followed the guidance from sba as well as the treasury to the letter of the rule. we are very careful about know your customer, kyc, know all the requirements for the program. we do have, we are more efficient than maybe some of the banks because we have an affiliated fintech lender which is able to create online portals and processes to work in a more efficient manner and that enabled us to not only become -- process these loans more efficiently but also to provide broad access to the program, to the smaller business owners.

liz: so writing loans, you were more efficient. i like that. how do you find the sba process and if you had the ear of congress right now, as they are about to maybe within the hour, less than an hour, grant more money into this and replenish it, what would you say needed to be changed, if anything? >> well, nothing i think at the congressional level you could do to change it. the issue we all face, we are laser beam focused on getting the -- processing the loans we have approved to disburse the funds in a timely fashion to again, the smaller tier of small business owners, but i will say that the sba system, they processed in less than one month, they processed over a decade of loans and we are seeing basic errors like recognition of new zip codes are being rejected, the applicants are making errors including 1099 labor so i think it's nothing

that congress and congressional side of the table can do. it's just really more of the adaptation i think of a particular number of fintech lenders have been approved, i think the sba temporarily approved up to 4,000 lenders. currently there's 1800 regular sba lenders, mostly banks, which don't have again, the system to adapt to these processes. we are all diligently working our way through so the issues in round one and i think we will be much better prepared in round two to deliver these loans to small businesses. liz: guess what? we just got breaking news that round two, there is a deal. we have senate majority leader mitch mcconnell saying they have decided upon $320 billion in the next tranche and you can bet that thomas capasse and his company will be starting to take those loans and at least start getting them to the mom and pops of the world over at ready capital. thank you very much, thomas.

by the way, so many business owners have a multitude of questions right now, aside from getting the loans. how do they survive? how do they weather the covid-19 storm? fox business giving you the chance to ask a billionaire very smart businessman, dallas mavericks owner mark cuban will be charles payne's guest for the entire hour on the next america works together virtual town hall meeting. this is going to be thursday, right before "the claman countdown," 2:00 p.m. eastern. send your video questions to investedinyou@foxbusiness.com. we'll be right back. open road and telling peoplete that liberty mutual customizes your insurance, so you only pay for what you need! [squawks] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

and people you can rely on. i'm a dell technologies advisor. me too. me too. me too. and if you're a small business, we're with you. we are with you. we're with you. we want to help. so we'll be right here. at home.

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liz: breaking news. we told you it might happen within the hour. leigh zeldin, the congressman and matt gaetz, another

republican, came out to say they believe they have a deal to commit about $320 billion for the small business loan tranche part two. let's listen in just for a moment here. >> -- sources through their banking institutions that a great american comeback and great american revival is ahead of us. we also shared specific circumstances from our respective states and the state of florida. we are seeing a very low rate of transmission even in our most impacted counties. we are seeing hospital capacity still with 40% and higher capacity available for us to use and to access. if we see any spikes down the road, i know the congressman also want toed to share the new york experience. >> this morning i got in a car in new york with my wife and we have twin girls, 13 years old. their excitement for being able to drive down to washington, d.c. for a couple days, you thought we were going away on a long weekend to somewhere beautiful on the beach.

they have been cooped up. kids all across our entire country, anxious to go back to school, they are finishing up middle school now and for us to have the opportunity to come down here and to thank partners here in the white house who have been helping us between suffolk county and nassau county, we have had over 60,000 positive cases of coronavirus. it's been a really hard month. and personally, it was so helpful to my constituents and my fellow long islanders, a few weekends back, i had a phone call with jared kushner to talk about some of our ppe concerns and specifically n95 masks that we were in shortage of. the president, you all were there one sunday evening, announcing he was going to send hundreds of thousands of n95 masks to suffolk. he ended up sending over 280,000n95 masks as well as another 90,000 n95 masks for

hospitals north of suffolk. 's thei it's been incredibly helpful for grocery store workers, first responders responders, ems, people answering ambulatory calls. there are so many unsung heroes -- liz: zeldin of new york, gaetz of florida discussing a meeting they just had inside the white house talking about also the fact mitch mcconnell, senate majority leader, has now said they reached a bipartisan deal to commit another $320 billion in money for the small business rescue loan plan. of course, it's not a loan if they make sure to keep on their employees, then it becomes a grant that is forgiven. here's what we do need to explain, though. when you spread it back out to the states, public servants on the front lines have been terribly sickened by serving.

new york city's mass transit authority has announced a staggering 79 workers have died after contracting the coronavirus. new jersey transit has lost three workers with more than 200, including the ceo, testing positive for covid-19. and the head of the rail operations tragically died on sunday. nypd, new york's finest, have now lost 30 members of the force. nearly 5,000 are out sick right now. if you take it out beyond new york, talk about detroit, a much smaller, smaller police force, you have at least 180 testing positive, more than 1,000 quarantined. the head of the homicide department, a 911 operator and volunteer police chaplain have all lost their lives due to coronavirus. but here's a business in the detroit hot zone that is fighting to help his city. he was already doing really well before the virus ever hit and he

fought and won for a trademark battle for his slogan, detroit versus everybody. he's now using that versus everybody business to help fight covid-19 and boost small businesses. joining me is the founder of detroit versus everybody, welsh let's see. detroit versus everybody, right now. i got my shirt, tommy. tommy walker, i love it. now you've got something brand new where you are putting together this one, everybody versus covid. you are putting the money to good use. tell us what the sales of this shirt will help. >> so the sale of the shirt will help, we are donating portions of the proceeds to the small business stabilization fund. you can go to detroit versus everybody or everybody

versus.com and purchase everybody versus covid-19 cap or teeshirt. we want to use our platform to give people the opportunity to give back and also, on our website, you can go directly and give directly as well. we are all in this together. liz: absolutely. absolutely. how many loans, i believe it's $5,000 apiece, have you heard this organization is now giving because you have been able to at least make it a little more flush with cash due to the teeshirt sales. >> yes. so that has been our main concern. a few years ago we created a compa company, detroit versus everybody and we donated to campaigns for heart disease and for cancer, alopecia. this is just another way for us to give back, end this pandemic

as well as get back to ourselves and to the community. it's been, you know, it's been working. liz: what do you have to say to viewers right now as everybody seems to really be struggling with this, but particularly small businesses. you know, you started extremely small. you know -- you now have major contracts with major sports teams, nba, all of --sed by the have grown from your apartment in detroit to something that is national and international. what is your message to small businesses worried they are about to go under? >> we got to get through it. comes times in life you got to go through the fire and the only option is to go through the fire. this is something we are all going through together. i have been saying look to your left, look to your right and summon the strength from each other to push through this so that we come out and this new world which i'm sure is going to

be standing there strong and ready to, you know, create more possibilities and opportunities. that's it. i feel like in this moment of time, nobody really knows what is going to happen and what it's looking like. in a way, it's exciting. in a way, it's terrifying. but as a unit, we have no choice but to get through it together. liz: couldn't agree with you more, tommy. thank you for your inspirational story. we have been wanting to tell good news stories. it's been really hard. we love your story and anybody who wants the shirt, just pick it up. how much do they cost? really quick. >> the teeshirt is $29.99. hooded sweatshirts are $49.99. we are dropping new products as well. we have bags and things for kids as people request them.

yeah, everybody versus.com. there's a lot of things there for you to, you know, support detroit businesses. liz: good luck to you and to your team. tommy walker. just one of the amazing people -- i found him because i have my podcast, everyone talks to liz. we have been looking for inspirational stories of people who have gone through the fire, just as tommy said. so he was profiled a couple months ago on everyone talks to liz and this week, venus la fleur, it's a great story. she came from extremely humble beginnings, bootstrapping the company into the multi-million dollar business it is today. check it out. please know, please know that every single one of those

stories will make you feel so much better about the world and will inspire you. that i definitely promise. it's hard to get any inspiration right now if you are a screenwriter, film director, anybody in the movie industry. hollywood has ground to a screeching halt. at this hour, there are an increasing number of films and tv shows that have been delayed, suspended or completely quit production amid the covid-19 pandemic. warner brothers shifting even more high profile release dates to late 2021 including "the batman," the untitled elvis presley movie starring tom hanks. as well as the many saints of newark, a prequell to the iconic hbo series "the sopranos" all put on ice for now. but this movie trolls world tour was put straight to video instead of delaying the premiere. a lot of these companies are delaying the premieres until the

time that it's okay to come out. but that was a move that infuriated hollywood writers and directors who were very unhappy with universal that was putting out the movie and now they are questioning whether they will have future plans at all with universal because they are so angry that they didn't just hold on and say wait, we will wait on the premiere. even netflix and other streamers could face original content delays if hollywood remains on hold. to steph paternot of slated, the world's first online film finance marketplace. streaming giant netflix will be the first of the big cap consumer tech giants to report results after the bell and given the state of today's streaming dominance amid this coronavirus shutdown, how do you think they will do? >> first of all, hope you're doing well. been awhile since i last saw you. netflix, i don't make earnings predictions but it seems obvious

they pulled forward a lot of customers who would have contemplated getting a streaming service and finally signed up and started watching. i'm sure netflix's top line numbers are going to be a blowout. as far as other cost structures are concerned, i don't know. i don't know what their earnings are going to be per se. but even the netflixes of the world are running out of original content. so they are going out there and bidding, buying up the rights to whatever movies and tv series were recently completed before the shutdown. what will they do after that? what will the rest of the industry do after that? who knows. liz: okay. but what are you doing? because your company actually finances movies. in fact, uncut gems, the adam sandler movie that got a great review from so many areas, it was a real game changer for that actor, you helped finance that one. are you seeing any projects of great quality, any movement, because it's great, hey, you are financing it, can't get made in hollywood which is shut down. >> well, look, i wish we had

financed that one. that was actually an early listed film on slated because we are an online marketplace where we have about 4,000 or 5,000 films in various stages of development and financing and packaging and getting released. we were lucky, we are a place where people can go find these amazing gems and uncut gems was one of the ones list ed. as was peanut butter falcon. hundreds of those films now have all had to stop production or stop in the development stage, so you're still able to go and source and assemble and develop these projects online on online marketplaces like slated but once you get to the point of green light, you're out of luck. you are stuck. you can still go ahead and try to find sales agents and potential down the road distributors for your product but really, it's going to be the streamers you're going to first and meanwhile, we are rapidly accumulating at this point thousands of films on our platform that are all waiting to

get green lit. we don't know yet when it will be safe to start production. liz: okay. so i was just going to ask you, could you assign a timeline when you think that some of these movies and so much of it depends on when the theaters open, too, could start working once again. but steph, i'm going to ask a question. will there be an oscars in 2021? 2020, rather. i'm sorry. >> there will be -- i think, whether productions end up shut down for three months or six months or longer, that's obviously going to impact how many pickings there are that get released and get seen and can be picked for next year's oscars. what's clear, though, is there will still be plenty of content. the streamers are the ones who are mostly winning on this. but ultimately, everybody gets cabin fever, everybody has to get out of the house and the minute it is safe to go back and

congregate in a theater or go into production and work with a team, there will be i think a huge backlog of projects that go into production. there will be more content than ever, fresh content, and look, the awards ceremonies next year may just need to adjust a little bit, whether they allow films that went straight to streaming to qualify for the oscars. i suspect they will. liz: be well, steph. it's good to see you. yeah, tom hanks is not going to be elvis. tom hanks will be colonel parker. of course. that would be elvis's right hand man. great to see you. thank you so much. up next, charlie breaks it. we are coming right back. nowadays you do more from home than ever before.

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loans piece of this or includes what democrats had pushed for and that was billions of dollars for hospitals, particularly smaller regional hospitals that have often been underserved, and also testing. there was supposed to be $25 billion for testing included in all of this. this time around, though, the rules of the game have changed when it comes to the small business loans. charlie gasparino here now with the exclusive details. i guess, charlie, the first time around, didn't exactly work as it was supposed to. charlie: yeah. we should say i believe there is that hospital, there is hospital spending in there. the democrats got some of what they wanted. fox business.com is going to have a full report on what's in the draft language in the bill. that should be published shortly. i believe hospitals are in there and yes, expanded money for small businesses. but the problem that small businesses face at the first go-round is that most real needy small businesses couldn't get access to the money because the

money was being handed to players that quite frankly were profitable, had business deals with various banks, meaning they had to be taken care of first, and also, several public companies which were exempt from the rules and these are big public companies, and the real travesty there is this. shake shack gave back the money but think about it this way. shake shack went for the ppp money initially instead of going to the corporate bond market, which was being supported by the fed to help get it money. so they went for even lower cost money with the ppp program depriving small businesses. the treasury department knows about all this. what sources are telling the fox business network is that they are trying to figure out a way to close those loopholes. now, one of the bigger problems that they have with this program, and we are getting this from banking sources, is that even if they do up it, this program will probably be depleted days, not weeks, but

days after it's approved and the money is being disbursed. the money could be disbursed as early as next week, from what we understand. there's a lot more demand for this money because small businesses on the first go-round got, i mean, traditional small businesses got screwed. that's the best you can say. treasury did not think through the loopholes on this which allowed major companies that were exempt, hospitality and restaurants, allowed hedge funds to get the money because they have banking relationships, the banks almost had to by law to give them the money first. so small businesses were held back. they are now trying to get the money and there is a rush for what the money is. again, it's something from what we understand, something like $300 billion. it sounds like a lot but i'm telling you, in the context of what small businesses are going through right now, and the fact that they are shut down and they have to lay off employees and you know, these are real small businesses that mom and pop shops that just don't have banking relationships, don't

have access to capital, there is a rush for that money because they didn't get it the first time. again, keep an eye on the language of the legislation. what we understand is that the banks essentially prodded the treasury department to close the loopholes along with small business advocacy groups because the banks were worried quite frankly they would be held responsible for doing what they have to legally do and give the money to their best customers. they thought there would be another occupy wall street scenario that's brewing because small businesses were not getting the money and they would have to lay off a lot of people. the small business advocacy groups basically wanted their members to be treated fairly. puts them ahead of the line, not the hedge fund, not the brokerage firm, not the big -- the publicly traded company that could tap the public market. again, look at the language in the bill and from what i understand, based on my last reading of the draft that was sent around, the democrats are getting some stuff that they

wanted, hospitals. i don't think there's aid to states in this bill. that's an interesting thing. by the way, state governments are getting crushed now. that may be the next leg of the bailouts. as you know, reported yesterday, illinois is one of the states that people think cannot pay its bills and could theoretically be turned down by municipal bond market when it comes back and issues bonds in may because of its desperate fiscal situation, even before this happened the pandemic made their unfunded liabilities in their pension fund blow out even more. so lots of stuff here. there's going to be more bailouts coming. this is unprecedented and by the way, the price of oil went down yesterday for a lot of reasons that are technical. the main reason i think is that we are now looking at massive, massive deflation if this economy doesn't get going by mid-may or june at the latest. we are talking about this could be really bad if this doesn't -- if the economy doesn't get

rolling because oil is an indication of what consumers may spend and it doesn't look very good. back to you. liz: charlie, thank you very much. charlie, i'm going to save this, everybody versus covid teeshirt for your brother, jimmy, who is an emergency room brilliant doctor, who has been saving lives in new york. thank you to him and thank you to all of our first responders and doctors. when we come back, much more straight ahead. the dow is falling about 600 points.

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♪. les five minutes to go before the closing bell rings. we are waiting for the senate that may do a voice vote on the new tranche of money for small business loans. nasdaq is down nearly 300 points. a loss of 297 at the moment. s&p down 86, the dow down 617.

flip over to netflix. netflix has defied gravity through all of this. coming out with first quarter numbers. this stock has jumped year-to-date 34% while so many others have fallen. number to watch is $439 and change. we're at 430. if it spikes on really good numbers, we don't know yet, the number to watch for record all time close, would be $439 and change. last moaned we talk with the chipotle ceo on the curbside business and as it adapts quickly to the new economy. will that translate into earnings after the bell? i tried it out. from ordering online to curbside pickup, 15 minutes. perfect order from chipotle this was last week. >> that is one of the big things

we're looking for. first i want to get to breaking news on chipotle. according to the department of justice they agreed to pay 25 million-dollar fine and anker it deferred prosecution agreement on foodborne illness outbreaks. that is a criminal fine. by the way largest ever in food safety case. the stock has been down. it is down more than 3% right now. now to the earnings estimates. street looking for earnings per share coming in at 2.90. revenue 1.42 billion that could be 8% jump from last year. analysts say listen to the guidance, yes, liz, food delivery and take-out. when will drive-throughs be ready across the country. as you noticed and said they have a pretty loyal customer base. if you put guacamole on a salad i will come back over and over. liz: me too. just spread it all over me. i just love it.

cheryl, great to see you. thank you very much. watching for chipotle, netflix and more after the bell. coronavirus has put a dent in just about every company, no matter the size. look at small cap summit wireless technologies this was once trading at $54 a share. the stock is down about 92% since the coronavirus nightmare but, what they have done, actually, since may 20th, yeah, after doing a public offering of six 1/2 million shares, could this virus be, you know, certainly something that slays or really wounds small caps across the country? that is a question we're going to ask. senior vice president nicole webb. we have volatility, we have small caps, it is not been a great combo here. what do you like? >> liz, thanks for having me. this is not like the denine

markets the month past, is it? there is plenty to talk about. tuning in with maria early in the morning, watching your program today, i think that the thing i want to remind investors is that covid likely does not have the ability to impact real growth expectations over the long run. so whether we're talking about small caps or the market as a whole, i think we have to to keep the long term mentality which will be hard to hold on to because volatility is likely here to stay. to your point on small caps though, we have been lessening exposure to them. simply put volatility is more pronounced in that sector of the market. liz: all right. nicole, we're watching the markets once again swooning, two days straight of negative moves. nicole webb, come barks thank you so much. as we wrap up on a tough day for the bulls certainly, what i need you to do tune in 6:00 p.m. eastern to liz claman live.

what i have been doing. [closing bell rings] i'm following futures and breaking news how the market appear to open for the next day. we see a loss of 604 points for the dow jones industrials. thanks for joining us. we'll be back here tomorrow. see you on twitter live for liz claman live. connell: the oil price crash continues for a second day today, and stocks continue to tumble. this is the second day in a row we've seen that happening. we have a report that could shake things up tomorrow coming up here any minute. netflix had been flirting with a record high for the stock in the last few minutes. we'll see how numbers come in once they are out. good to be with you. i'm connell mcshane. melissa: melissa francis. this is "after the bell." the major averages closing down more than 2 1/2% as president trump prepares to meet with new york governor andrew cuomo this hour. fox business