okay. we're down 467 for the dow. we're down 48 on the s&p. and we're down 38 on the nasdaq. my time is almost up. i have to leave you with a lot of red ink on the screen right now. again my time is up. neil, it is yours now. neil: all right, stuart. i don't think these delate openings in key regions across the country are helping. look at that, my friend. washington, d.c., is looking at least mid-july opening there. we're hearing certainly in los angeles county this could drag on for quite some time maybe up to the fall. you obviously heard about the california state university system will not reopen as scheduled in the fall. add it all up, you have concerns, as jerome powell pointed out makes him think the slowdown lingers longer than he wants or anybody else wants but it is all weighing on the stocks right now and technology stocks that have been leading the parade here. dow down about 472 points. s&p 500, nasdaq, also taking it

on the chin. again what the experts sort of give they can taketh away. when jerome powell talked about the fact even with the flood of stimulus we've already seen, good idea to see more stimulus. he didn't put a dollar figure behind it. the federal reserve has spent trillions backing up businesses and banks by buying treasury bonds, corporate backed securities, etfs, and to back up corporate paper. that is unusual, in this particular case unprecedented. he seems to signal we are not out of this by any means. these delays in openings here as we heard new york metropolitan area, broadway doesn't do anything until at least labor day. people add up, let's push stocks down. now there is good news though. we always want to posit that. favorable developments on the new york state area, new york

city to the point and new york area hospitalization as key level looked at closely continuing a decline has been better than two weeks. anyway, we have david lee miller following all of those new york-related developments now. he joins us from new york city. hey, david lee. reporter: hi, neil. take a look over my shoulder. what don't you see? well you don't see that temporary field hospital, those white tents set up right here in central park since the start of the crisis. the charity that set up the tents, samaritan's purse packed them up. they're on their way back to the carolinas. we are told that 190 patients had been treated here since the temporary field hospital was set up. this a good sign that this temporary field hospital no longer needed. moments ago we heard from governor andrew cuomo. he had latest statistics, the number of cove individual patients tickerred up ever so slightly to 416 from 401.

as you point out the overall trend has been down. 166 lives lost in the last 24 hours. that is down from 195. the governor underscoring these are not statistics. in his words these are families. the illness now dubbed pediatric multisystem inflammatory disorder, had killed three children in new york state. the governor said 102 children statewide have been treated for illness. symptoms can include fever, rash, abdominal pain. those infected often recovered from the coronavirus virus or tested positive for the virus. some earliest cases reported in the uk. new york city reporting 82 cases. a short while ago new york city mayor bill de blasio says there is a great deal about this illness that is unknown. >> there is still unanswered questions. there are things we don't know. we don't know what makes kids specifically susceptible. why some kids, not others?

still, even though it is a striking number, it is a small number compared to the number of kids in the city or even number of kids who have been exposed to covid. reporter: new york governor andrew cuomo a democrat who serves as the vice-chair of the national governors association is now teaming up with that group's chairman, republican, maryland governor larry hogan calling for the federal government to send financial aid to states. they issued a joint statement for washington to send 500 billion to cover shortfalls caused by the virus. neil two, days to go, on friday at least three regions of new york state are planning to restart the economy. new york city, frequently called the epicenter of the site russ will remain closed down for several weeks, if not longer. some businesses are perhaps even months away. as you mentioned just moments ago, the show will not go on. broadway remaining dark until at least after labor day.

neil? neil: all right. that could telegraph the rest of the new york metropolitan area as you pointed out. thank you very much, david lee, i should say. edward lawrence will take over here, get a read on some pronouncements we had on the federal reserve chair. just to give you an update on these exact delays right now, washington, d.c., is extending its stay-at-home orders likely through june 8th. los angeles county's public health director is saying that the delays there will last at least to july. we're going to be speaking to the l.a. county board of supervisors, get her take on that, whether that is a good idea or not. some concerns in the business community the longer this drags on slower the recovery. that is really one of the things that the federal reserve chairman was intimating today, there is no real clear path to all of this. that is not a shock. what is jarring a lot of the folks in the financial community as well as those directly affected areas this could linger

on a while longer. so reopenings could be in some of these cases substantial delayed. we're at session lows. the dow down better than 505 points. to edward lawrence, how the fed chairman, maybe his musings moved this southward. what do you think, edward? reporter: exactly. some of those you ticked off there, the economy not reopening in those various areas is not the road to recovery the fed chairman was talking about. he says we're in the worst recession since world war ii. he has seen severe decline in economic activity with job gains erased over the past decade we had, calling the coronavirus the largest shock in history. the powell says the economic fundamentals were strong going into this. there was no bubble that caused this downturn. the virus really was the virus. powell says the fed will take further action saying this is not the final chapter related to estimate laws because he says we need to avoid a weak recession or a weak recovery and prolonged recession.

listen. >> the result could be an extended period of low productivity growth and stagnant incomes. we ought to do what we can to avoid these outcomes. that may require additional policy measures. at the fed we will continue to use our tools to their fullest, until the crisis has passed and the economic recovery is well underway. reporter: you heard it there, fullest extent until the economic recovery is well underway, a signal federal funds rate may stay near zero for some period of time. powell has been saying this is the fastest and largest fiscal response since world war ii, calling reaction to protect the economy swift and forceful. hopes small businesses could be saved. small businesses will be a signal how robust the recovery will be. if you don't lose small businesses you don't lose just

jobs, you lose decades engine newt you can't replace. he sees unemployment rate peaking next month but see as sharp decline but we'll be above the 3 1/2% we had into it. he says we can get back to the 3 1/2% but he says we have to get on the road to recovery and stay there, neil and that is something reopening will do. back to you. neil: all right, thank you my friend, very, very much. as we told you a little while ago we're already hearing los angeles county's public health director, i want to make sure i got the title right, saying the region's stay-at-home order will likely last through july. this as we're learning as well the california state university system essentially canceled classes for the fall semester. in person classes. they will virtual. the read from the l.a. county board of supervisors chair. thank you very much for taking

the time. what caused this speed bump? do you know what now stands to delay, you know, your state's reopening? >> so actually it is not a delay. we were discussing yesterday at the board meeting as issues relates to tenant protections the question came up, how long do you want to keep the protest,s in place. so we were debating what the end date or sunset on that. we are continuing in phases to begin to ease restrictions. today we're making announcements of reopening the beaches and actually going to follow what the governor is doing and allow businesses to reopen and do curbside. so we are moving in that direction. we have got phases going. it is based on testing and tracing, insuring that we can protect the most vulnerable population. capacity one our hospitals and really making sure people understand what social distancing is all about. we're moving in that direction. so we are easing slowly but

surely but recognize it will not be completely over until we get into a situation where we can have concerts and all that, which is not, definitely note going to happen before august. neil: all right. so that was the read we heard from the l.a. mayor, for example, that that was not in the offing anytime soon, this july, sort of open-ended date. is that, that was not changed? or the recommendation is, to still adhere to some of these provisions while loosening them up for some businesses and the rest, beaches and all? can you give us an update on any of that? >> so we're trying to avoid from giving a date. we're looking at the numbers and the numbers are really what will dictate we can begin to ease some restrictions. so the date, of july is an artificial date. today we'll announce lifting of many restrictions. last week we allowed trails and, and businesses to begin to reopen that were, identified by the governor.

so we are moving in that direction. our numbers have actually been fairly good. as it relates to hospital capacity, we're 63%, on testing we're growing on testing up to 20,000 a day. we're move in that direction. we're move tock a slow methodical way. we don't want to go safer at home. we want safer at work, safer in the community. recognizing we need to be very careful how we do this, so we don't take a step back. neil: is it your sense this will be a staggered process though? that people when they do eventually come out of their homes or sheltering provisions that were in effect will be doing so in stages? i heard one, maybe "l.a. times" article where they talked about doing this first 20%, then the next 10%, then next 10%? that could obviously go on for some time. what is your read where the

state besides just your area, goes from here? >> we represent 10 million people here in los angeles county. so it is going to be in slow stages because again i don't want, i know no one else wants to go back to where we were with a month ago, safer at home, pulling everything. so we will do it in stages. i know when i go out into the community, i'm seeing people changing the way they are doing things. they're wearing masks. they're respecting social distancing. they're recognizing we need to change the way we are continuing to do things, so we don't spread this virus. neil: all right. you're busy. that is putting it the mildly. we appreciate you take time to talk with us. the l.a. county board of supervisors chair. be well, be safe. meantime i want to draw your attention to the corner of wall and broad. investor david tepper probably not helping the situation saying he thinks this market is very

overvalued here. a lot of people share the view we got a little ahead of ourselves here. that is in the eye of the beholder. we'll see if scott martin agrees with that. scott, a lot of folks are looking at this, we run up far and fast from lows reached five or six weeks ago. we were due for it this. you hear people like tepper saying we're due for a lot worse. where are you on this? >> i'm not in tepper's camp, neil. more so that, one thing we have to consider you mentioned is, historic drop, 30% off the all-time highs in a matter of a month. a pretty nice rally of 30% or so in about a month 1/2. it seems to us given the economic data is worsening that the fed may be stepping back a little bit on dovishness and equity, market would provide. the market should take a breather. when we have the moves, there tends to be airpark air pockets in the price that tend to push down market action.

for us we've been putting on pretty defensive positions in our portfolios which is documented by the way. the fact we can take advantage what will be a meandering if not slowly slumping market the next couple months as data continues to come in here. neil: you know, it is interesting, we always like to step back to see valuations on these markets and, you know, i don't go into them quite detail, near detail that you would, but it is definitely a lot less expensive than it was before all this started, even with the comeback. yet you have folks like tepper, others arguing, you know, this is akin to what we had going on in in on 99. that seems a little bit of a stretch but what do you think? >> i think it is similar in some ways. there was euphoria and fear and panic in 99, i was part of that market trading it and investing it. hard to believe looking at me, it is true. i've been through three or so

recessions since then and three or so market busts similar to '99, neil, leading up to this one. it is something interesting too that chairman powell said today which he is correct about. a recession like we're in now which by definition and feel is here, we at kingsview there will be -- [inaudible] there is growth that will be pulled out of this economy because of the recession. what i think powell is incorrect about, however, he talked about ingenuity as you talked about with edward lawrence a few minutes ago. ingenuity will be created out of this recession. there will be moves and opportunity things never even thought about before they come out of the recession that is the silver lining. first the market has to come to grips with the deinstruction coming out first-hand we believe will show up in lower stock prices here. neil: thank you very much. you might have known the stock market is swooning a little

here. we're hearing state puzzle as one by one reopening plans or delay them as we heard from places out of california, what have you. what is interesting we expect to hear in 45 minutes from new jersey governor phil murphy, who we're told contemplating some business reopenings, curbside pickup, that go beyond mere restaurants. we don't know details, timing when a lot woo would kick in. the garden state home to second number of cases of the coronavirus behind new york is itself looking after the unwinding? the question is when, how soon, to what degree? you're watching fox business. these days staying connected is more important than ever.

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it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪. neil: all right. we are at session lows here down close to 600 points. had been over 600 points about a minute ago here. to tell you how sweeping this was just again on comments we heard from jerome powell, federal reserve head, saying this could drag on a while. sort of paraphrasing here. he is doing everything he can throwing trillions at this to support banks, businesses buying up junk bonds, corporate bonds, etfs, exchange traded funds. anything and everything he can to support the system but system is rebelling right now.

that is a big catalyst. for example, for a while we were up about 40 bucks. on amazon we turned that into a 15-dollar loss. apple was up five bucks. we turned that into a 7-dollar loss. you might notice i'm mentioning a lot of technology names this is why we have gone southward fast. the intel was up six points. down about six points. this was a very quick reversal, how long it lasts anyone's guess. you have a number of folks looking at this, maybe we're due for this. i don't necessarily buy the chicken entrails and tea leaf reading crowd, they're seizing on this as a sign we're doing for this, except your own neil there. states reopening and the reopening process. 2/3 of the country by all said and done on friday will at least begun and almost completed the process. west virginia is among those

taking early lead getting back to business as usual. west begin attorney general patrick more ricci is with us. always good to with you have us, patrick. how are things going in west virginia and the process of reopening? >> thank you, neil, for having me on and these are obviously critical days in west virginia. i think buy and large the state is doing pretty well. there was a lot of early activity to limit the spread of the contagion. by and large those tasks have been achieved because west virginia has one of the lowest incident rates in the country. there have been still too far many deaths. i think we were about 58 to 60 as of this morning. there may be some updates coming. west virginia is really gearing up to reopen because they took all the right public health steps. i think folks are moving ahead, because it is critical we get our citizens back to work. we know unemployment is very high right now. we'll have to start assaulting

that right away, work to create the economic environment that allows our state to flourish. there are pieces in place to do the right things. we're working closely with president trump and a lot of others to make sure we handle this reopening the right way. neil: what's your gut tell you, talking to the governor as well when this process will be complete? any idea? >> you know i would say this, there is no one size fits all solution. there are many places that should be open right now. i believe that but we also know that there are certain segments of our society that are going to need some real protections. the nursing homes, assisted living, some areas where you have immunocompromised patients. i think that in the upcoming weeks we should all be moving towards that reopening. that has to happen very, very soon but i also am very leery, you heard about the break, california, slipping to august,

i think that would be very inappropriate. i'm counseling people in west virginia to look not canceling their august and september events right now. let's do it based on data, let's start to reopen. you can both protect the public health while you reopen the economy. we have to come to terms with that as a society, make sure that all the states are seeing that the same way. neil: do you think we have to come to terms with the inevitability much a spike in cases? that is just unavoidable? >> look, i think you're right. we know that there are going to be some increases but we also have to realize that this is a virus, a contagion that guys after a certain portion of our population. obviously if you're over 60 or if you're immunocompromised, if you have a preexisting condition, you will get hit a lot harder than those who might make up the majority of the workforce. so i think we can taylor our solutions to fit that. and that's what i'm hopeful

we'll do in west virginia. i know we're beginning that process. i want to move faster and faster while protecting the public health. i think it is something, west virginia has been a model in many respects. i hope at the end people will say there were folks in state government that did this the right way. we're handling, still recognizing a broad debate of protecting public health while reopening the economy and protecting people's constitutional freedoms. that is one of my charges as attorney general, to make sure this is done right, and insuring that we have the right kind of legal system in place after of this is over this is doing some damage to that. neil: all right. attorney general, thank you very, very much. have a beautiful state. many precious whitewater rafting memories of darn near drowning. >> invite you, invite everyone to come back to west virginia. it is a great place. given the way it handled the situation, a lot of distance, you can socially distance here.

neil: yeah, you certainly can but water is always cold, attorney general. i don't know what the deal is. it is cold. it wakes you up fast. thank you very much. we're on top of that, the dow free-falling here, down 536 points. there is also concerns again of a meat shortage, whether it drags on. so we thought we would talk to an industry player, technically there is not a meat shortage. we have to get that right. he should know, after this. i love audible because it's a lot of stress relief, it's a great escape. so many great stories from amazing people... it makes me want to be better. it changes your perspective. it makes you a different person. see what listening to audible can do for you.

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♪. neil: all right. we're concentrating on this selloff now in and around 500 points. gotten as bad as 600 points. technology was leading this parade, doing so quite smartly earlier this morning. then we heard from the chairman of the federal reserve. he was like a debbie downer. within minutes people started saying what does he see that maybe we don't appreciate? the rest is selling history so far with 3 1/2 hours of trading to go. jackie deangelis has been

following it very closely. jackie what happened? reporter: good afternoon, to you, neil. the fed chair making the case this will be a prolonged recession throwing cold water on the market with it down 500 points. there are other stories we are watching moving things. one of the interesting things, neil, tesla's site in california with alameda county. california getting closer to allowing eel mon musk to reopen his manufacturing headquarters in california saying the health department in that county saying if the electric carmaker puts additional safety measures in place it can slowly increase production and the plant can prep for the gradual reopening as soon as next week. you and i know, anyone who is on twitter knows, elon musk started reopening anyway over the weekend. he was frustrated with california's rules and restrictions. he said he was going to reopen the plant. if anyone was to be arrested it should only be home. president trump weighed in

yesterday, california should let tesla and elon musk open that plant now. meantime sony is saying it will stick to the time line of the release of playstation five just in time for the holiday season, despite some of the challenges the company has seen from the coronavirus pandemic. these challenges include employees working from home and issues with travel restrictions. those have definitely impacted testing and production but they say we still have our target on track. mortgage applications are up for four straight weeks, neil. they were up 11% last week, 6% the week before. new york was leading in the gains with a 14% jump despite it being the epicenter of the coronavirus. shows there is pent-up demand here. rates of 30-year fixed, 3.26% according to freddie mac. as states are opening up, you see people, perspective buyers, still have cash on hand are saying we'll take advantage of that rate. we're going to get out there. that is certainly going to help

move things along. as you mentioned, some places will open faster than others. that is just how this is going to go. that is part of what is bringing the market down too. back to you. neil: jackie, someone plans to get married, i always curious how does this of a affect even your plans, even arranging a wedding? i talked to so many, well, i can't organize anything because i just don't know what is going to happen? >> you can't. that is the problem. our date was set for november, we decided yesterday, neil. you did not know this, completely unsew list at this timed and decided to push it until next june. it is impossible to work with vendors. impossible for guests flying at end. year, for example. even if they can, will they want to. i don't want to put all the time and energy into something that is supposed to be a happy celebration to have people nervous or worried. that will sort of ruin it right? neil: i had no idea. >> reporter: yeah.

neil: late he is still better. it will all work out, but it is weird. countless times i've heard this same sort of thing play out. all right, thank you very much, jackie. did not know that. we broke news here. i could just see the flashes on the wires right now. jackie wedding delayed a little bit. all right. also, some of the headlines besides that one is what is happening on the meat front. maybe some hear when you go to the grocery store, look around, either in short supply or limited how much supply you can take out of the store. my next guest is saying it is not as bad as it is being presented. there might be shortages here and there but to argue the whole chain has been broken, that might be a stretch. joins us right now, meat purveyors owner, much, much more. pat, is this a overreaction, it feeds on itself? explain what is really going on snoop neil, it is an

overreaction. almost every media story is about plant meat facilities are closing. yes, many closed for a few days to give their staff time to maybe readjust, make sure they get, possibly get tested before coming back and doing what they say deep cleaning but in the meat industry we do a deep cleaning every day. not we do it once in a while. so there is more of a labor shortage than a meat shortage. there is plenty of catalog there. we're not shortening. at 99% fulfillment. maybe one out of three thousand items we carry has been short, an hour or two before it is delivered from out west. but out west they are complaining that a lot of staff members are now not coming to work because stimulus plan has given them additional $600 a week. in some cases it, you know, why go to work if you make more money for staying home?

neil: yeah. this latest proposal, house democrats come up with, they will extend that to your point much, much longer, i believe right through the end of the year. having said that, when people go to store, they're limited how much beef they can purchase, it is not across the board but in a lot of places is that an overreaction? does it fuel the argument i have to hoard it if i can't get it and if i don't hoard it i can't get i, it keeps feeding on itself? >> that is 100% accurate. many of my friends bought 1000-pound freezers to stock, ply advice, prices all-time high. start eating what is in freezer. when it is over, don't have any of that left. that is my advice. in the market, when everyone else is buying you sell and vice versa. right now, markets are at all-time high. there is a wave. that wave was, every time that

there is an extension of the shutdown, more uncertainty happens. mid-april, we were told by new york that it would be pushed to mid-may. that was the beginning of a lot of uncertainty. the stimulus plan was built to help until may 1st. after that as we extend further and further, it becomes very difficult for meat processors like myself, for growers, actual farmers themselves have, you know, a stock load of cattle and you know, they're uncertain as to when, the restaurants will reopen. so right now we're in phase, we have to wait until phase three restaurants to reopen. we haven't begun phase one in new york. it will be quite some time before we get to phase three. what does that look like? do you have to eat with your mask on? there are some uncertainties how long it will take the restaurant industry to -- [inaudible] neil: no, you're right about that. but you're right, a lot of

people maybe just attack what you have in your freezer, do what i do, fred flintstone thing, it is so big on top of the car and collapsing. pat, thank you. you bring up a lot very, very good points. be well and be safe. pat mentioned something about the restaurants, right, a lot of them, no matter what the states, municipalities, states are doing, even if they're allowed to open, 30%,% capacity. many are not. they are refusing to do that. why do you think that is? stay with us. in my line of work,

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neil: all right. 42 minutes after the hour, a sell-off ensuing with the dow down 521 points. a lot about concerns getting back to business. what will it be like when we're back to business, at least something resembling business? it could be a long process.

maybe that tough slogging there is what is weighing at the corner of wall and broad here. charlie gasparino looking at major banks what they plan to do at this environment when they are back to business. it might not be same places we're thinking, right, charlie? >> neil, wall street, from what i'm gathering, i've been speaking with wall street headhunters, the employment recruiters that help wall street firms find personnel, investment bankers, traders, marketing people, you name it, salesmen and women, where the hiring will be and where they will be hiring, right now there is hiring going on. the trend, it is a sharp trend, accelerated greatly when the coronavirus hit and pandemic caused major banks essentially not to shut down, but forced most of its workers to work from home, outside of new york city. the trend in hiring appears to be greatly outside of new york city and that is for all the major investment banks. what they're saying l looking to

reduce, banks are looking reduce real estate costs. they believe that they can do that because people are teleconferencing. they're trading and they're working and when there is deals, there's deals because what we're doing we're doing it remotely. one big thing they hear, recruitment is that the banks clearly want to reduce their footprint outside of new york. again wall street will be less bp new york and wall street in the future. the places i hear they're looking to hire, this is from major recruitment head hunters, austin, texas, nashville, denver, jacksonville. for different reasons all the cities could provide opportunities in terms of investment banking. jacksonville is becoming a hub of investment. nashville is a hub of health care. you can do health care deals. austin, texas, obviously a big tech center. what we're going to see is a

shift in hiring. if you can get teams to work in denver in nashville, in other places, that's where wall street wants to expand. we should also point out i've been asking banks, like when are they going to have all of their people in the office? is it this year? a lot of them are saying to me they don't expect to have everybody back until the end of the year. so many brokers can work from home. it is not worth the chance to bring people in, particularly in buildings where only one person can ride an elevator amid the coronavirus, some of the social distancing measures the banks are taking. again those are big banks. morgan stanley is one of them. i'm speaking with people there who say morgan stanley, they have been given the word, don't expect to be fully staffed back in new york at least, in new york city at least until the end of the year. so that's where we're going here. social distancing measures, some of the ways to stop this spread

of the virus is going to to a diaspora of investment banking hiring outside of new york. those are major cities i hear. it is going to have a major impact on not just banking but new york real estate prices, if this does happen, the way a lot of people are saying it will happen will take a big hit. back to you, neil. neil: all right. thank you very, very much, my friend, charlie gasparino on all of that. we should let you know here we're getting word russian cases have spiked. this is the deadliest day yet for brazil. market watch reporting latest numbers from countries. you don't get them all at the same time. that doesn't necessarily mean the same thing is happening here. bumps along the way. all three of those countries were undergoing some tentative reopenings, put a staggered basis, in the case of mexico and brazil, that could be slowed if not stopped for the time-being. stay with us.

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and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ neil: we talk about states reopening, what about businesses in those states. casinos first and foremost in a world battered certainly by the ongoing coronavirus shut down. we have kristina partsinevelos reporting on that, and their plans eventually to get open.

where do we stand? >> eventually, right? eventually. gone are the days where you can take your shucked oysters, wood oven pizza, from the mgm buffet after playing a round of slots. this is happening in vegas. mgm studios, or mgm released a reopening plan for the hotels as well as casinos. gone are the days of the buffets. plexiglass and masks are n. as expected masks are required for employees, interestingly, not guests. mgm will strongly recommend guests use them, but not force them. every other slot machine will be deactivated, other seats removed from the machines. fewer players at card tables. players will be discouraged from standing except for the craps table. this is important. no word yet whether those free drinks will disappear or be limited. mgm is continuing the touch-free process for check-s in and

reservations. hotel employees will be encouraged to get screened for symptoms before entering the building with temperature checks. if you want to know, start booking as soon as june 1st, digital men use. dining experience. digital men use will be menus. restaurants will reface the tables. not just mgm, neil, treasure island will open may 22nd. that is this month. they're only known resort being open and taking reservations. caesars plans a gradual reopen with three or four hotels. caesars palace will be in the mix. they're planning to extend the reopening beyond nevada. both properties closed mid-march laying off thousands of

employees. one thing for sure, is that properties will not look the same. neil: i'm still trying to picture you at these buffets. that would never happen, kristina. you're one of the most fit people i know. you would not be piling on stuff at a buffet? >> yes i would. i exercise so i can eat. i would 100% be stuffing my face. neil: so the exercise, that's the important thing. got it. kristina, thank you very much. >> exactly. thank you. neil: buffet thing. all right, you know, so to kristina's point, there are a lot of businesses step back, all right, we're getting clearance to do this, we're not necessarily sure we want to do this. this is case of number of state has opened up where they're allowing gradual capacity measures to get restaurants opening up. not everyone is seizing on it. fred castelucci knows the industry well. he has a hospitality group he heads up. he knows what he speaks here.

fred, it is interesting, isn't itit a number of businesses health off on this. i guess they want to see how it goes. i don't know if it goes beyond georgia. update me what you're seeing? >> it is extremely challenging. there is a lot of factors that go into the decision. not just government policy can tell you to reopen the business when it will go back to normal. the customer has a large say in this. we just did a survey of our customers. we had 4500 responses. people were eager to tell us their opinion. only 11% of customers said they were ready to dine back right away. only 20% more said they would dine sometime towarded be end of may most people saying in june or july after a virus vaccine. neil: is that right? even though they have the opportunity to do so in a lot of states like your own giving them that, they're not eager to do

it. what is holding them back? they want to see how it goes? they're leery? how would you explain it? >> i think people are afraid. i think, that you know, a lot of our customers, you know, they look at us, you know, as a trusted place where they can get take-out. we're worried that if we jump back into dining too quickly, that we, you know, exposure staff to the virus and customers as well, that we'll lose our take-out business as well. so the stakes are extremely high. so we're just being very cautious with jumping back into a model that we know is likely to be unprofitable as well. so it is just extremely challenging from that perspective, not just from the demand perspective but consumer safety, to the profitability. but isn't some capacity better than no capacity, some business better than no business? >> it certainly is but our view point here is that, you know, we don't want to jeopardize our business for a couple extra weeks of sales, you know.

we really have to think long term here. what will our business look like in six months, a year from now, two years from now. we want to make sure we're there for the long haul. making you know, wrong steps right now can be catastrophic. neil: all right. we'll watch it closely. fred, thank you. best of luck to you, your family, your patrons. >> thank you so much. neil: same here. all right, thank you. what i touched on there is a theme no less than federal reserve chairman touched on today. this reticence holding back the economy from fully reopening and could delay the whole process a little bit. he wasn't saying a lot of stuff people suspected anyway, but he put his stamp on, said the stimulus we already provided, might not be enough. there is only so much the federal can do. maybe a little more congress can do. but what we have now, won't be enough. is he right? stay with us.

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neil: all right. we had a selloff going on on the dow right now. all the other major averages as well. all of this might be telegraphed by states that are pushing back their reopening phase or continuing reopening phase. maybe it was just the

realization that in washington, d.c., it's pushed back into june, possibly july, in california, the state university system is not going to have in-person classes in the fall. that's a lot of universities and colleges that are swept into that. then the fact that things going on in l.a. county and elsewhere, now going into july. so that coupled with the chairman of the federal reserve saying you know, there is this concern that we just don't know how far this goes, weighing on the markets here and the better part of valor seems to be sell first, maybe get into the details after that. but it has disrupted momentum. certainly that had been pretty much in place a little more than 48 hours ago. we will explore that, also talk about escalating tensions between ourselves and china, even when it comes to the investments we will police when it comes to public funds, elsewhere that are invested in china led by no less than the white house on that.

let's go to blake burman with more on that. hey, blake. reporter: hi, neil. we are seeing the backtracking from china on a couple different fronts today. you're right, first of them being on the investment front. you will remember we talked about this yesterday, a story we broke on fox business.com on monday evening that the white house had been demanding of the board that oversees the federal employees retirement fund, to make sure that they would not be transitioning into a fund that has exposure to chinese equities. the white house at the time said there was some $4.5 billion in play here and they wanted to make sure that transition did not happen. they wanted an answer of the federal retirement investment board by the close of business today and that board said today that they would not be going forward with that exposure to chinese equities. bottom line here is a win for the white house, as the president wanted to pull a lot of money out of chinese investments and the board that

oversees that says that is exactly what they will be doing, and they are citing covid-19 as a reason why. secondly as well, the fbi today has also issued a warning to those researching covid-19 that they could be targeted and compromised by china. the fbi saying in what it is describing as a public service announcement today the following. quote, health care, pharmaceutical and research sectors working on covid-19 response should all be aware they are the prime targets of this activity and take the necessary steps to protect their systems. the fbi is also asking anyone who thinks they might have been compromised already to reach out to their local fbi field office and let them know. neil? neil: all right, blake, thank you very much. blake burman following all of that. lots to follow today. we are also following what's going on with the delayed, you know, openings, reopenings, whatever you want to call it. they are still happening, i want to make sure folks know that,

just in some cases they get pushed back. in l.a. county now, it's likely to extend some of these provisions until at least july, maybe through july. with more on that, william lajeunesse. reporter: residents could be stuck at home for the next three months and the city attorney backed that up, charging 60 businesses yesterday, gyms and hair salons, for opening without permission. here's a statement that politicians tried to walk back all day. the county health director saying quote, with all certainty, safer at home orders would remain in effect unless he sees, quote, a dramatic change to the virus and tools at hand. >> based on all of the data that we are looking at, and i agree 100% that this is a really good opportunity to continue to be driven by the data, we know with all certainty that we would be extending health officer orders for the next three months. reporter: that's important,

because remember politicians, especially here, have contrasted themselves with president trump and red states by promising to quote, follow the data and science. well, l.a. county continues to spike into fatalities, now more than half the state total. she says she will only ease restrictions if infection rates and fatalities decline and wants everyone to have the ability rather to test everyone every day. that's not good news for the politicians trying to balance the economy and public health, present and future. as summer arrives, people want out. l.a. mayor eric garcetti now trying to soft-pedal her remarks. >> quite frankly, there's no so-called open state or open country that doesn't continue to have health orders, telling us to cover our faces, physically distance, and to tell people that you're safest working from and staying at home. that's all that the county health director was saying. reporter: as for that tension, people need to make a living, well, despite that, because experts are saying 90% of the 88

cities in l.a. county saying they are going to cut services or lay off workers because the hotel and sales tax shrivelling to nothing. back to you. neil: it just feeds on itself. thank you very very much, william. i want to again take a peek at what's happening at the corner of wall and broad here. not only the dow but the nasdaq. i follow a lot of very good writers, i'm privileged to read their stuff but tony kilgore is one of my favorite market watchers. very good investment writer and tends to look at developments under the developments of those you don't readily see. reporting today that this intraday swing from a rally to lower closes suggests momentum might have been sort of unravelling a little bit. he writes to the number of textbook bearish engulfing, a term you hear sometimes from a lot of technicians, reversal patterns have appeared in stock charts of large capitalization technology companies to suggest momentum in the tech sector may

have swung, may have swung from bulls to bears and it has certainly swung that way for the time being. as he points out, it could change but for those who follow things like candlestick charts and all that, i can't believe i'm saying this, but just to throw this out there, that it confirms a pattern, a two-day pattern that might not go much beyond that. there are those who look at this, take a bigger picture look and say this is something we should be worried about. i only share that because he's a very uncanny read of maybe the tea leaves we assign to those who look at this stuff very very much up close. john layfield, you follow this very very much up close. i'm wondering what you make of what he's reporting, that momentum and it can shift, i get that, but there's more to this shift than meets the eye. what do you think of that? >> i think there is, neil. i think once chairman powell, what he said is correct. what people are worried about on wall street for some time, those of us who were in the 2008-2009

crisis realized it was more than a liquidity crisis. this is not a liquidity crisis. the fed learned their lesson, did a great job by keeping liquidity and markets very efficient. this is a solvency crisis. so aside from stocks that are going to do well through this pandemic, amazon, streaming stocks, online sales stocks, some of your delivery stocks, you have a lot of solvency issues going forward. the government pretty much gave a bailout to a lot of people based upon facts at the time that this was going to be a v-shaped recovery, that we were just getting businesses through until the fall. that looks like an impossibility now without a vaccine. that i think is what's worrying wall street. neil: do you think this is simp simply, something i can understand, we got ahead of ourselves? that doesn't mean we go back and revisit the old lows, maybe we do, i'm not smart enough to know, but that that might be playing out, too, and then on the slightest excuse of whether it's something powell said,

whether it's a delayed opening in l.a. county, whether it's a delayed, you know, start of the college fall classes in all of california, that just feeds it? what do you think? >> i think that is right, neil. i think the worst thing the market hates is uncertainty. we have a lot of uncertainty about how this new normal will look. we have seen this going on around the world with singapore, south korea, lebanon, japan, having to reimpose a lot of restriction zones and i think that's a worrisome thing for the market. i think also, the markets are looking at we will find out really quick what works and what doesn't in the united states. we have everything from l.a. county that's going to shut down it looks like until potentially august, the states that are almost opening up completely. it only takes about 14 days to get that data as to what's working. i think we will find out really quick what is going to work in this country and what is not going to work, but until then, i think we are having volatile swings in the market. neil: thank you very very much, my friend, john lay field

follows this as well as anybody that i know of. we are also monitoring a couple of developments he touched on about the reopenings you will see in states and localities. new jersey governor phil murphy is addressing reporters right now. we are expecting, i say expecting, that he is going to announce a timeline to reopen nonessential businesses, stores that might have curbside pickup, allow construction. again, on reports that the coronavirus particularly hospitalizations in the garden state, much like in neighboring new york, have begun trending down rather dramatically. we will be following him very very closely and so will my next guest, dr. richard besser, former acting director of the cdc with the robert wood johnson foundation as president and ceo. doctor, thank you for taking the time. we always weigh the economic interests, the health interests, a lot of experts say we can balance both. but there is a concern in some of these states, california among them, that you don't want to rush it. maybe they have gone a little

extreme to push off in-person, you know, university college season beyond the fall, but what do you make of what you're seeing and how this is all reopening? >> neil, it's a challenge. you never want to get into a situation where the health of a community is seen as at odds with the economic issues. clearly, the severe economic do downturn is bad for health but as people think about going back to work and people think about going back to stores and being out and about, they want to make sure, they want to know that their health is a top priority. so opening up slowly, carefully, based on the best public health science, there's always going to be balance. that's what needs to take place so that we don't open up too quickly, have big spikes and outbreaks of disease that set us back, you know, beyond where we are currently.

neil: you know, i thought yesterday, you are far more expert than i on this, but a lot of people misinterpreted the things dr. fauci, for example, was saying. he expressed some reservations about the vaccine, you know, rollout here, and possible treatments, more so than he did about the nature of the rollout and people getting back to work and all that. he stated the obvious, i guess, you want to do this carefully, much as you very succinctly put it. but on the vaccine front, a lot of people have been getting ahead of themselves maybe on remdesivir, whether that's promising, and a host of other potential treatments out there, about a dozen companies working in concert with either whole countries or government agencies or other pharmaceutical players, that this is not going to be an immediate payoff. do you agree with that? >> yeah. i think it's really important that we celebrate all of the effort that's going into

developing treatments, developing vaccines, but there's no guarantee that we will have a vaccine or when that will be available. with all the effort, i'm hopeful but this is different from a flu pandemic where it's merely substituting a small part of the virus into an existing vaccine. this is developing a brand new one. it's important that that vaccine be tested to show that it works and to show that it's safe. that can take a long time. so in the meantime, we have to make sure that the public health system is able to identify cases very quickly, figure out who those people have had contact with and get them into isolation so that we are able to slowly, safely open an economy and not see large outbreaks, like we have seen in some countries that have moved quickly. neil: yeah. i'm glad you mentioned that. brazil comes to mind, mexico comes to mind, russia certainly comes to mind. that gets people nervous, as you can well imagine. are we moving too quickly here. i know it varies state by state,

but is it your sense that we can avoid what has happened in those countries where all of a sudden, they either have to stop, you know, the sheltering moves or at least slow them down? >> well, you know, that's exactly what we don't want to see happen. we don't want to see a state open up and then have to quickly put the community back into lockdown. we need to be seeing a lot more testing, though. you hear this over and over again. the reason it's so important is we need to be able to identify people who are even mildly sick with covid because they could spread this in communities. we need to see data down to the level of every neighborhood. so that we know if there's a particular area that's being affected. very few states are presenting data by race and ethnicity, yet we know that black americans, latino americans, native americans are getting hit very hard. we have to be able to look at that level so that we can be assured that everyone's needs are being met and that a small outbreak in one neighborhood

doesn't spring into an outbreak across an entire city. neil: thank you, doctor, very much, and for your continued service to this country to keep people aware of what's going on, and calmly do so. we appreciate that. be well, be safe yourself. as the doctor was speaking there, we are hearing a little bit more from governor murphy in new jersey, confirming right now the death increased to about 9,702 in the latest period, now a total of 141,560 cases there. 190 new fatalities, as i say, but he did stipulate the trends are showing a decline in hospitalization. remember, a forward-looking indicator here. these new cases abate, he will be likely to lift lockdown restrictions in the coming weeks. he wasn't more specific than that. new jersey.com is reporting that the new jersey star-ledger, host of other papers, he's expected

to announce that nonessential businesses might be able to reopen for curbside pickup, nonessential construction may resume, just as i was saying that, he's confirmed that. again, if the trend is your friend on hospitalizations, no matter what's happening in cases and/or deaths, that forward indicator is enough now for the new jersey governor to say all right, we had slowly begin unwinding. the emphasis being on slowly. more after this. want to brain better? unlike ordinary memory supplements neuriva has clinically proven ingredients

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neil: all right. we are getting more details out of new jersey governor phil murphy. lot of people saying why are you focusing on new jersey. it has the second highest number of cases and deaths, tragically, in the united states behind only new york. governor murphy indicating that he's going to sign an executive order for monday, may 18th, that will allow the restart of non -- some nonessential construction, nonessential retail stores to reopen for curbside pickup only and would permit drive-through and drive-in events under social distancing guidelines. i don't see anything here yet about restaurants, whether that was going to come up because i would imagine that would be of some interest to my next guest.

mcclune restaurants founder, very very popular in jersey, when it comes to the jersey shore. tim, we don't know a lot of details from the governor. i don't see anything here on restaurants but i could be missing it. if it turns out restaurants aren't part of this latest -- go ahead. >> i was going to say, i don't think there's going to be anything new with us. we already are allowed to do curbside and to go. that's basically our landscape right now. it's a tough one, as we are all trying to navigate the resources available to us. as i said many times, on march 16th, we had 12 locations and it's as if they all burned to the ground on the same night and we had no insurance. so since that time, it's like how do you marshal resources to just stay in the game. to go business in our world was probably about 2% of what we do in the course of a year, and now it's 100%. i think i had, without offending people who have legitimate ptsd, i think when this all happened,

i went through like a two-week hibernation and i wasn't just thinking clearly and what do we need to do, then i kind of woke up from that and our mantra now is that we want to be up and standing literally june 1 of 2021, not june 1 of 2020. we are trying to plan everything that we do so we are still here a year from now. you know, that started with the ppp funds which are no silver bullet. you have talked about it many times. it's so limited and the absolute forgiveness that you would have to rehire, you would have to use 75% of the money for your payroll. we are not even allowed to open up inside so there's no way we can come even close to that. you can pay your rent, whether you can do utilities, but we are not going to get forgiveness. we also went after eidl loans and we are in a queue for those. i don't know exactly what's going to happen. the best i can tell, none of that money as we take it, we are

going to only seek to keep going at seven of our places. none of it gets us to january. unless there's major adjustments. neil: wow. by the way, you are right, there was some thought that the governor would allow some in-restaurant dining. it's not part of this wave here. so what you have is what you've had, which is nothing like what you need or want. i'm wondering, too, it will probably be a limited capacity when it returns, right? >> at the very best, i think they would say 50%. other areas of the country are doing 25% of your seating. of course, we all have, you know, it's the battle between biological and sociological. on the biological side, we all need to eat, we all need energy and all that. on the sociological side, how many times in your life did you say hey, we need to get together, why don't we meet for lunch somewhere. are they going to say let's go meet for lunch somewhere now. i think a couple of the important things are for people

to understand, i don't mean to be beating a drum for the restaurant industry but i have been in it for 33 years, our level of sanitation is much, much better before this all took place than you would ever even have in your own home. much, much better. we have to keep our eyes on things called serve safe and there's all kinds of levels that we do that you would not do in your house. now, of course, we are going, you know, even further with it. i also want to mention in all of these discussions that the new jersey restaurant and hospitality association, there's a woman named marylou albertson who has been in charge for quite awhile. i think she's a very smart advocate and i don't believe that any of us are looking for come on, open up the restaurants, because the customers don't want us to open up. i don't believe that they en masse say yeah, let's all go back in. i don't believe that. i think the best model that i have is that on an annual basis, we could arguably, if everything went well, get to like 60% of

our normal gross. if we are at 60%, it's not sustainable. without more government help. that's a dream, 60%. neil: you know, you think about it, it does feed on itself, though. you talk to a lot of people who have already canceled plans to go to the new jersey shore, for example, because they just don't know what things will be like. we are hearing restaurants -- so it does have a way of just feeding on itself, doesn't it? >> yeah. because then you have to ask yourself, again, i don't mean to speak against it, you know, because i am very confident with governor murphy, i'm very confident with miss albertson that they are doing the right things as best their brains can figure this all out and filter it and we just happen to be a unique industry that depends upon people interacting with each other. social distancing is the absolute opposite of what we do. i personally believe that bars, even within a restaurant, that a bar within a restaurant will not be opening at any foreseeable

future. i just don't see that. it's going to be some level, we were thinking about actually keeping the same number of tables in the building but sanitizing, when somebody sits at it and when they leave, that table doesn't get put back in until it's completely sanitized. the next table from it over does. if we take out half our tables it's going to look so goofy and half of it's ambiance. people want to be in a comfortable environment. it's tough. neil: you raise a number of -- >> we are already -- neil: tim, hang in there. your people, hang in there. you are doing a lot of good. lot of people want to see you rebound and get back into business. take it day by day. tim mcloone joining us. a fixture in the garden state. we will see what's fixing to change that right now. nothing at the time being as far as reopening. we are also keeping an eye

at the selloff going on right now. couple of developments on that that go just beyond the averages. ge, tumbling very close to its lowest level in three decades. it's had very very heavy volume. we are also hearing from amazon that it's going to extend its double overtime pay in the u.s. and canada for workers affected by it. we continue to see this from amazon, very heavy demand during this difficult time so responding to that by rewarding the employees who are busting their heinies to make good on that. stay with us. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. tums ver(bell rings)la stick when heartburn hits

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neil: all right. continuing to follow this selloff that might have been telegraphed by the fed chairman, jerome powell, indicating that probably more stimulus will be needed. little more the fed can do but a lot more he thinks that congress can do and sure enough, there is more stimulus coming.

republicans aren't buying it but house democrats have come up with about $3 trillion in money that isn't all exclusively virus-related but where does this all stand? chad pergram with the very latest from washington. hey, chad. reporter: good afternoon, neil. well, $3 trillion in this bill that they will move through the house probably late in the day on friday. there's going to be three hours of debate. house speaker nancy pelosi said that one hour of debate for each trillion in the bill. almost $1 trillion of this, $950 billion, goes to the states. there's money in this for food assistance, also $25 billion for the postal service, and this is why republicans don't like it, especially in the senate. here's bill cassidy of louisiana. >> currently, she went to her committee chairs, she said give me that which you think maybe we can get in here, a starting point for negotiations so we will look reasonable when we retreat from it. on the other hand, it is socking it to the american people

cynically saying we are here to help you but rather instead trying to fulfill a left wing agenda. reporter: liberal democrats like progressive caucus co-chairs like congresswoman jayapal wrote, asking for a week delay on the bill, arguing they need more time to determine what's in and what's not in the legislation. last week, steny hoyer said he didn't want to pass a bill which was a message, that democrats didn't negotiate this legislation with the republican senate nor the trump administration. that means the bill is likely to serve as a message to liberals, that the measure isn't going anywhere. pelosi says the bill is expensive because debt is cheap now. >> the chair of the federal reserve bank has told us to think big because interest rates are so low. the low interest rate and the prospect of access to credit has bolstered the stock market. we intend to use those low interest rates to bolster the american people. reporter: there will be another coronavirus bill at some point. republicans in the senate are

pushing for liability reform post-coronavirus and that's why house speaker nancy pelosi views this as a starting point for a negotiation. neil, back to you. neil: what is the final figure likely to be, chad? i know as you remind me, this is a game but if it's not free trade it's still going to be trillions, right? reporter: we don't have a final score from the congressional budget office and remember some of the liberal democrats, they wanted to spend $4 trillion on this bill and maybe that's why nancy pelosi was willing to shoot so high, because if the senate eventually maybe in june or july comes up with another bill, it's going to be a lot less, maybe in the trillion, maybe $2 trillion phase. neil: it's only money, as you remind me. thank you very very much. chad pergram following all that from capitol hill. then there's baseball, which might be looking at a comeback come july. how realistic is that? dave samson, former miami

marlins president, with us now via skype. how likely you think it is baseball can get back in the groove, maybe with or without people in the stadiums to start as soon as july? >> i think it will be without fans but i think august is probably a little more realistic. there has to be more testing and protocols have to be put in place and there has to be an agreement between the owners and the players on economic issues. neil: on economic issues, so the players know they are facing pay cuts, they don't want big pay cuts but if you are talking about a season in august, that would presumably be pushed to october, maybe november, there have got to be pay cuts, right? >> so there is an agreement in march, neil, that said the players agreed to be paid their pro-rated salary. if there's only half a season, and there are $10 million players, they play half a season, get paid $5 million. now the players are saying that's the only pay cut they want. except if you are only playing half a season, then of course you would only make half your

salary. that's not a pay cut. the owners are going back and saying without fans, our entire revenue model has changed so we can't pay you simply your pro-rated share because 81 games isn't like a real 81 games, because our revenue will be so much lower so we are coming back to you for yet a larger initial real pay cut. neil: how do you think it's going to work out? if you are watching on television, it might not matter as much, but for the players, for those there, how do you think all that's going to go? >> so there was a regular season game a couple years ago in baltimore without fans and it went quickly. it was like a two hour and six minute game. there was no real walkup music, not a lot of entertainment in between innings, but i spoke to players and we would talk about that in the clubhouse. it feels different, even when you are playing in front of a small crowd of 5,000 or 8,000 or 12,000 or 15,000 people. there's a buzz, a feeling. it's like you're playing to show

off for people, not just who are watching at home but who are actually there. it will take some adjusting for all of professional sports but i think our best chance of having professional sports in 2020 will be without any fans at all. neil: so if this did get delayed beyond even august, is it too late then to even consider this? >> i think august for me is my drop-dead date because in baseball, you want to have at least an 81-game season. normally seasons are 162 games and you can afford to have some sort of slump when you start as a team like the nationals did last year, and still ended up winning the world series. in an 81-game season, you better start hot and stay hot, but anything after august, you won't be able to even get 81 in and then i think it just won't happen until 2021. neil: all right. well, we will watch closely. dave samson, thank you very much for taking the time. maybe that's the way it goes. maybe as late as august but they still get in a season. we shall see. we are very very closely

following right now how various businesses including baseball, could reopen but you should see how movie cinemas are looking at this when and if they reopen. what if they don't go for first-run movies? what if they try something else? after this. >> you yell shark, we have a panic on our hands on the fourth of july. ♪ ♪ ♪ ♪ ♪ ♪

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>> marty! you've got to come back with me. >> where? >> back to the future. neil: all right. that might be the future, a lot of old classics for cinemas hungry for new stuff and if that's the best they can do, they think you will be more than happy to oblige them.

grady trimble on all of that. grady? reporter: neil, we are at the logan theater, an independent in chicago. they are used to playing the new films along with the old ones like the "texas chainsaw massacre." unfortunately right now, their theaters look like so many others across the country, they are empty. hollywood studios don't want to release blockbusters at a time when so many theaters are closed, so what they are doing instead is re-releasing classics, movies like "psycho" and "jaws" and "back to the future." "harry potter and the hunger games" as well. new or old movies. the reason they are doing this, there are some theaters in some states that are planning to reopen in the near future while so many others are closed and they don't want to obviously put out their big new releases so this is another option. a lot of the ticket prices are going to be cheaper, $2 to $5. that could take you back in time as well. i talked to the manager here. they don't know when they are going to be able to reopen this

theater, but she tells me that she thinks this is a good idea to get people back to theaters at a time when maybe the new movies aren't coming out just yet. listen. >> there are some great classics out there that haven't been on the big screen in some time and we love bringing those back here. giving people a reason to come out again. obviously safety for not only our staff but our guests is going to be priority, and that's something we are goek to foing on first and programming second. reporter: the studios planning to take a smaller cut from the theaters since these are movies that most people have seen already. the new releases are tentatively scheduled to come out in july, which theaters like this are hoping to be able to premiere then, but as of right now, in cities like chicago, new york, it's kind of up in the air. for now, we are holding on to the nostalgic classics, i guess.

neil: yeah, guess so. all right, grady, thank you very much. grady trimble. typical movie is about an hour and a half, two hours. you might want to bring two dvds with you when you go to the airport next time because some are recommending you get there four hours in advance. four hours inn advance. lauren simonetti, what's going on here? lauren: biggest changes since 9/11. let me take you through this, the new airport, if you will. you arrive and go through a disinfection tunnel where they spray you with a mist to sanitize you. not joking. then your bags do much of the same. for a bag it's called sani-tagging. they literally put a stamp on your bag saying we hit this with a uv light, it's free of germs. okay. now everybody in the airport socially distancing themselves, standing on the appropriate markers, moving around. you might see moving with you robots that clean and sterilize

the floor. they are actually using these at one airport in pennsylvania. i actually would like that at my house. that seems really nice. okay. you make your way to the gate. no more group boarding. listen. >> it's already piloting what's called bingo boarding. it will announce your seat number. as the number lights up on the screen, that's when you go up. there is no need to line up. you can rethink these processes. lauren: i actually like that, individual personal boarding. it's just going to take a lot of time. what we have done in this process is make the process from getting to the airport to getting on the plane perhaps longer than it needs to be. you can make the argument and the ceo of jetblue did make this argument to stuart varney that increases your risk of being exposed more, but they have to do everything they can, being the airport, the airlines and health authorities, to make sure

that we are as safe as possible. now, you are on the plane and what you are looking at is basically an empty seat back. they used to stuff all those materials in there. that's not going to be the case anymore. menus, manuals, all that will be dig digitized. if you are on a long plane, there will be a janitor perhaps on that plane cleaning down the bathroom and other common surfaces, if you will. are you interested in flying? neil: well, not after this report. it sounds a lot like soylent green but that's just another -- holy toledo. all right. we will see. lauren, thank you very much. lauren: we just have to get used to it, like we did after 9/11. neil: no, we don't. all right. we'll see. we'll see. you have a half-full glass view of this. after this. in my line of work, i come face to face with a lot of behinds. so i know there's a big need for gas-x maximum strength. it works fast.

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neil: all right. it's all about the cases. we have heard that you could have a sudden spike certainly in cases that could disrupt plans to reopen things. in france we are learning the number of confirmed coronavirus cases rose by about 507 to 140,734. you might have seen these ima s

images. all of a sudden it's crowded, high traffic again. they might want to dial that back in light of some of these numbers that also saw an unexpected spike in hospitalizations. of course, in this country, it really depends where you go and it does affect the rollout of what's happening in some states and municipalities. who knows that better than my next guest, mayor nadine woodward of spokane, washington. very good to have you. you have been keen on obviously getting things back to business but there's the state you have to contend with doing things at one pace, cities such as your own doing things or wanting to do things at a different pace. are you pleased with the way it's going on statewide, first off? >> well, we have been advocating -- thanks for having me on your show, by the way -- to be able to open up our region, our county, earlier than maybe the rest of the state. we are on the complete opposite end of seattle, we are in eastern washington, and you know, our makeup is much different here. our covid response has been much different here.

we have a population of 500,000 plus, yet our numbers are very very low. in fact, recently our covid cases have increased just single digits. we have a handful of people in the hospital. we have plenty of hospital capacity even surge capacity, so we have been advocating for weeks to allow the governor to allow us to open up our businesses sooner than they would probably on the west side of the state. that conversation continues. we have gotten movement. the governor now has been open to allowing smaller counties to open up, certainly not yet any our size but we continue to advocate. in fact, just yesterday, we sent him a whole package of information, the process he requires, the letter from our health district, the approval from our health board, our regional health board, a letter from the hospitals and our county commissioners. he's going to get a letter today from all the mayors in spokane county to allow us to open and at our own pace. right now we are in phase one of a four-phase governor plan and we are asking to get to phase

two sooner than he would normally allow us. we are ready. neil: what is the plan for phase two as things stand now, mayor? >> well, phase two would allow restaurants to open up at 50% capacity, it would allow the rest of manufacturing, more construction, inside retail but with lots of restrictions, pet grooming and things like that. so we are getting some of those guidelines now. you may be aware of the guidelines for the restaurants. the challenge with restaurants, you are a businessman, you know this, with restaurants, the margins for profit are so small, 5%, 6%, many business owners are telling me if we open at 50% capacity, i still can't pay my bills, i still can't make money. now one of the guidelines is for business owners, restaurant owners, to have a log, a 30-day log of everyone who has come into their establishment on a daily basis. of course, that's for the

contact tracing part of it which was one of the parameters that the governor laid out in order for us to jump from phase to phase. we have to be able to contact people who have been sick and who may have exposed others. but that's going to be a difficult one. the nice thing i can say, the great thing i can say about our governor is he has been open to industry response, industry feedback, and has been willing to modify some of the guidelines. i project there will be some modification on this one. neil: you make a very good point. i understand where the governor is coming from, where it all started certainly in the seattle area. you are on the other end of a big, beautiful state. you make a compelling case here. we will see what he says. mayor, be well, be healthy. your constituents as well. >> thank you. you too, neil. neil: all right. thank you. mayor nadine woodward. the dow down about 445 points. the nasdaq and lot of technology stocks under pressure. what happens now? after this.

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. . . . ♪. neil: all right. we've been telling but the stock sell off. where do you think people are going right now? relative safety of bonds. yields come down as price moves up. we're following gold. a lot of folks tend to park a place for their cash when they can. gold moving up smartly half a

percent. not a dramatic performer of late but over the course of this still up 20% on the year. we're following to see if there is any follow-through what is happening in the stock market. all of sudden there are concerns this rollout is slowing down. cheryl casone in for charles payne. cheryl: i'm not really sure i want these markets, neil. can you take it all back? neil: i hear you. unfortunately i can't. up to you. cheryl: we'll see. i'm cheryl casone in for charles payne today. this is "making money." we are losing money. we have a market sell-off on our hands right now. breaking right now stocks are down after fed chairman jerome powell did very little to ease the fears of investors this morning when he spoke about a recovery. in fact his exact words, prolonged recession. we're all over the markets. we have our experts on stand by. they will help us get through