♪ stuart: 8:30 eastern, big jobs report. very strong. 9:30 eastern, the market opened on the upside, very strong. almost 12 noon, most of the market is down. where do we close? i haven't a clue, but neil cavuto is going to take you through the day. what have you got, neil? neil: all right, stuart, thank you very much. have a very good weekend. well, we are off on the dow, at least there is that to report right now, it's really a tug-of-war, if you will, stuart, between what's happening in the bond market, what's going on in stocks. yields are coming down a little bit from the highs this morning when we got well over 1.620% on the 10-year, you're looking at now 1.56%. but this back and forth has a lot to do with whether people park their money in the relative safe security of a treasury or in stocks. it depends on where we go. but the lower that goes, the better it looks for stocks, and for the time being it's looking

good for stocks. meanwhile, we're in the phase of the $1.9 trillion stimulus package they're debating on capitol hill, this is where they go through a series of amendments, dozens of them -- hundreds of them by the time they're all done. but it is a long and drawn-out process here. it's looking like this will go down along party lines when they eventually do vote on this in the senate, and that gets hustled back to the house where they look at any changes that might have been made and then they cobble together something presumably to get done maybe as soon as this weekend. that might be a bit aggressive, but we're watching that. let's go to cheryl casone following all these developments and what's happening in the markets as well. hey, cheryl. cheryl: yeah, markets have been incredibly volatile this morning. it's really been a rocky week, to be honest here. the economy added 379,000 new jobs last month, good news, right? they beat the estimates, unemployment rate falling to 6.2%. but right now let's take a look

once again at these major averages, and they've been so volatile this morning. as you can see the dow is up by 43 but really just basically hangening on -- hanging on. nasdaq down 151. the nasdaq entering correction territory just within the last hour. at least a 37.55 point decline, that's the threshold, we're way below that. names like apple, amazon, tesla, invidia leading the declines. the nasdaq on pace for its worst week since march 2020, tech stocks getting hit by higher bond yields. the yield right now on the 10-year at 1.561%, so that's a decline of .3 basis points, but yields rise as bond prices fall have been rallying as the economy's recovering and there is the potential for inflation seeming more plausible. but again, 10-year highs we have not seen since february of last year. real quick, our favorite safety play is gold, even that is down.

normally, this would go higher when you see a selloff in the markets, but the contract is down $5.20. taking a look at oil right now, oil has been rallying in particular after opec and a russian-led group agreed to extend production consistents through april. crude is up by more than 3.25%. and bitcoin has been on a tear over the last two weeks really. look at it right now, $47,671 per coin, neil. ing that is -- we're pushing 50,000 on bitcoin, and that has been a meteoric rise, and all the markets have been watching that, neil. back to you. neil: you know what's amazing about bitcoin, this is the first week that i can remember in a long time -- we'll get into this, cheryl, a little later, but where the moves have been relatively calm. nothing like we used to see. so almost trading like, i don't know, a reliable stock. i don't know what that means -- cheryl: a lot of people are putting -- well, when you've got elon musk putting his faith in bitcoin and a lot of major wall

street banks, i guess the legitimacy of the coin is upon us. neil: right. right. and all of a sudden they say, well, maybe it sounds respectable and all of that, microstrategy boy -- buying some more coins. it had a very normal week, not crazy week. cheryl, thank you. edward lawrence on capitol hill following that relief package. so this vote a ram ma phase they're in, could you explain how that works? >> reporter: yeah, they're voting on amendments being attached, republicans and democrats are attaching amendments here. the republicans have said they're going to get them to read all of them out loud, and that's delaying the process. could be one page, could be ten pages, and then they're going the read that and vote on it. and they come from republicans, again, and democrats. but, you know, we're really seeing the reopening play out. you saw the jobs report that came out. i want to show you quickly where the jobs came from in this. it came from the manufacturing,

education, health services, retail, trade, but looked at leisure and hospitality, leading, 355,000 jobs in february as the economy reopens. the sector's still down 3.5 million from a year ago, and construction there, the red one, the weak spot on the list. but the beer row of labor -- bureau labor statistics said that was due to the severe weather across the country. because of this, republicans feeling vinld candidated this report shows another massive relief bill may not be needed. listen. >> with the jobs report just came in, 379,000 new jobs. the economy is just ready to take off. disposable income's up, savings up, there's such pent-up demand, this is going to spark inflation. >> reporter: inflation concerns. here's where the white house is on this jobs report, the chief of staff tweeted: if you think today's jobs report is good enough, then at this pace it would likely take until april 2023 to get back to where the

jobs were in february of 2020. senate majority leader chuck schumer said that the jobs report will not affect the size of the $1.9 trillion relief package, and it's full steam ahead. >> we are not, we are not going to be timid in the face of big challenges. we are not, we are not going to delay when urgent action is called for. >> reporter: so democrats are seeing and the white house is highlighting that 10 million people are still out of work and that jobs report, regardless, republicans can't stop the vote on this bill which looks like it's going to pass down party lines. back to you. neil: thank you very much, my friend. looking at the employment report to which he was alluding to, that report was very, very strong, there's no other way you can say it. 379,000 jobs added to the economy, the unemployment rate dipping to 6.2%. but as you can see from this chart for those of you listening, leisure and

hospitality, the lion's share of those job gains. it's a significant development for the economy because this was the hardest hit sector, all but completely shut down throughout the pandemic and now with openings and reopening going on across the country, i'll tell you about what's happening in connecticut with that statement's governor a little later, these are positive developments, indeed. the career builder ceo, you know, when you look at it, it's disproportionately weighted in that sector, and we know9 that the sector's not completely back yet or open yet or fully staffed yet because of restrictions that remain in place. that's a good sign of maybe things to come. what do you think? >> it is a good sign. and, neil, the other month we talked about data was starting to show that bartenders and restaurants were slowly starting to hire. amazon employment data just confirmed that. you talk about hospitality and leisure representing almost 90% of the job gains, within that

75% are coming from bars and restaurants which is front-line, covid-impacts and -- [audio difficulty] progress and definitely the in the right direction. neil: i think we're having some problems, we're going to try to fix them with your microphone and your setup there. you are coming. ahead of that the, i do want to get to mark hamrick, phil flynn, of course, our futures, commodities, oil brainiac. so, phil, on what you're seeing in that report, it did, you know, lift stocks and futures, you know, originally and then, of course, the same good news was greeted with skepticism because it led to a backup in rates, which happens. so the markets are betwixt and between how to handle this, what do you think? >> i think you're absolutely right, but make no mistake about it, what the jobs report says is

that we're coming occupant of it, that things are starting to get better. when you see leisure and travel start to move, that's a sign that people are expecting things to get back to normal. having said that, you know, the fed's going to have a big problem especially when he's got washington, you know, with the biggest pork sandwich coming down from washington in a long time. that's saying a lot, neil, right? with this stimulus bill. that could be a problem, you know? because i don't know if all the money's being spent in the correct fashion to really stimulate the economy. and so when you're going to have a much bigger deficit and have rising interest rates, it's going to be harder to pay back. so in the short term, i think it'll give do the economy a boost, but in the long term it's going to give us a headache. neil: you know, i get the weird feeling, mark, that it's almost as if the administration and democrats pushing this spending package are, like, rushing the unsure car buyer, you know, in the showroom.

no, no, no, you've got to get this now. well, i see another car -- no, no, no, you've got to do this now. so you're looking at strong economic data which would compel you to think, well, you know, we don't have to go quite to $2 trillion. but no, no, no, they're rushing this, rushing this, rushing this. what do you think? >> yeah. i mean, i feel like they should try to take the rust proofing out a little bit there, neil. [laughter] but, you know, this is an indication, as is often said, that elections do have consequences, and the democrats now essentially rule the roost. will they have sufficient support to push this pa package all the way through the senate? that's what we're going to find out soon. you know, it is interesting though that, you know, there's a little bit of a tug the of war here, rhetorically speaking, on whether this is a strong jobs report or not, and it's really fascinating to me having been here in washington, d.c. for over three decades to basically see the administration talking down the jobs report when, indeed, it's the first one of the administration because they

want to make the case for passaf the stimulus legislation. one could imagine if it were the previous legislation, we'd be hearing about how the economy is booming and pointing to the regional gdp -- i should say, the federal reserve bank forecast from atlanta and new york that are between 8.6 and 10% for first quarter gdp. sost it's a bizarre world we live in these days, neil. neil: to put it mildly. we're back with my friend irina, career builders ceo. i hope we fixed the problem -- >> me too. neil: we've been touching on the robust growth certainly in the hospitality industry, but this is a fairly broad-based report that portends positive developments as more states reopen. and i'm wondering how you puppet that with all this government stimulus coming. do we need as much now? can we pace ourselves a little bit? can we see what we get -- i

think it's too late, i think this train has left the station and will officially arrive at the next station this weekend, but what do you think? >> neil, you said it. this has been a one of the largest jobs reports that we've had in the last several months, and it's in categories that we want to start seeing. so even within hospitality and leisure, that made up 90%, 75% of that was bars and restaurants which we have not seen throughout the entire covid pandemic. so this is a material positive sign. the other aspect of it is half of the united states, half of the states in the united states are seeing double-digit jobs posting growth which is really a leading indicator for companies starting to get out there looking to hire. we started seeing that throughout february, and it's continuing in the first week of march. and, again, this unemployment report is delayed. it's a lookback. so everything that we're seeing is continuing to show thats positive momentum for -- that positive momentum for jobs growth. neil: you know, i wonder we're

still down net 9.5 million jobs from our highs, where we were before the pandemic. but we're rapidly making those jobs back. now, i'm wondering when you think we do. >> based on the pace that we're working at now, it looks like it's in two years, but if we continue to accelerate, that obviously will get broadened. and when you talk about the 95 million jobs -- 9.5 million jobs still outstanding, it's important to see they're in different demos, in different geographies and different races. and it's not fully equitable on how the jobs are coming back. we're seeing that women for the first time broke the 6% barrier to 5.9%, and the black-american category is the only category that actually has gone up from an unemployment perspective to 9.9%. so so there's definitely still -- [inaudible] neil: real quickly before i let you go, irina, on those workers and how they come back, whether

they're doing so virtually or whether they're telecommuting or show up in person and the loss by bial -- hospitality industry, it necessitates being there, but a lot of employers are going to be deciding how to go about this process. what are you hearing, how is this all going to play out? >> it's one of the most talked-about aspects of the great rehire that we're seeing. for example, on the candidate side, 35% of candidates are are applying for jobs outside of their geography with the anticipation that companies aren't going to make them come back to work. one of the things we're seeing on careerbuilder.com is there's over 195% surge in looking for work from home jobs. and then lastly, we talk about inflation and wages, it's going to have a big impact on companies deciding are you paying people salaries based on where they live or on where the company is base ld. because as migration starts,

this is going to change how people compete and the salaries that are given to different locations potentially. neil: yeah. and it's going to be pretty dramatic in the next few weeks. irina, the career builder ceo, great seeing you again. thanks for your insights on all of this. let's pick up with mark and phil on that. mark, if she's right -- and she's been pretty accurate on every step of the way here as far as jobs coming back -- it begins like this, you know, one industry, then another industry, then more industries. and we're seeing it reflected maybe in the backup in yields that we're seeing. hardly inflationary, but a little bit more inflation than we've seen. so from that perspective, mark, does the comeback in the economy and the commence rate jump in yields -- commensurate jump in yields, how do you reconcile that? do you worry about it? >> well, i mean, we have to worry about something, and that feels like that should be pretty close to the top of the list.

having said that, it's also part of the process of getting back to normal, right? and so, you know, a 10-year yield, as low as it is right now, is not yet nearly normal for, based on what we have come to expect over many years. but it is anticipatory, and that also makes some sense to see some of the air coming out of these previously high-flying stocks that have been largely based on the work-from-home economy. so, you know, who nose what the next normal's -- knows what the next normal's going to look like, but i think it'll look a little bit more like what we experienced a year ago than over the past year. neil: and, phil, the younger you are, the less you remember about inflation or trouble-digit mortgage rates or any -- double-digit mortgage rates. >> right. neil: all you know is the level from which we've jumped, and that gets you worried. what do you think? >> you young whippersnapper, i

remember inflation. [laughter] come on, guys, let's tell you what it's all about. what's amazing to me, neil, is nobody's talking about this sharp increase in the price of oil. i mean, let's face it, you know, if you look back at some of the worst recessions we've ever had in this country, it's been because of a spike in oil. and that is more of a concern to me right now than the yields. i mean, look what opec did yesterday. they were going unchecked by the biden administration. nobody's talking about them cutting production by a million barrels a day when the market's telling them, hey, we need more oil and we need it now. so to me, you know, that's more of a concern. and the biden administration, i think, is very quiet on this because they secretly want these higher prices because it makes their green energy program look, you know, more achievable. and so, but i think this is going to butte them in the back. -- bite them in the back. i think somebody's got to call

out e peck on this -- opec on this production cut. when that happens, that could create a real problem for the global economy. neil: yeah, we'll have to watch it there. i'm amazed when i see these figures, certainly on oil over $66 a barrel here, that's getting to be pretty noteworthy. phil, final word. mark, want to thank you again. very good job, guys. energy has been a key component, energy etfs are doing just fine, thank you. so no one crying for them. ♪ i'm on my way, driving at night -- ♪ down those country lanes, singing to tiny dancer. ♪ and i miss the way you made me feel, it's real ♪♪

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...and learn how much you can save at xfinitymobile.com/mysavings. neil: you know, a lot of companies are trying to help you get your hands on a vaccine. wells fargo, in fact, is giving staff time off to get a vaccine, but grady trimble has found one that's trying to help workers on site. he joins us right now in illinois with more.

hey, grady. >> reporter: hey, neil. they bring the jab to the job so you don't even have to go anywhere. we're at del monte fresh produce, and they had about half of their employees get their second dose today. they chose to get vaccinated. we're with morgan tracy, not to be confused with the snl great, you're the general manager here, and you think this is a model that other parts of your company and other companies can follow. >> yeah. we were one of the first facilities to do this just because of the timeline that the counties were releasing going from 1a to 1b, but we intend to do this countrywide. >> reporter: and there are a lot of office buildings that have done this with the flu shot, to it's not unusual. you partnered with the local grocery store and local health department to do this. american airlines, united airlines, jeep even did a pilot program like this one. could you see this as something that could be expanded all over the place, and why would you make that pitch?

>> i think that it absolutely should, and i think the reason is because the employees have a place to go to where they're inside their bubble of people they're used to being with, and if you and i were friends, you got it, i feel comfortable getting it too. i think it's the best way to get everybody vaccinated as fast as possible. >> reporter: if you go where the fruit is being cut and packaged, it's like a meat-packing facility. obviously, you're part of the food fly chain, and that's why you're employees are essential. what kind of relief of is it to know that those who wanted to get vaccinated now are here? >> i think it's great. we have certain protocols that we use, face shields and things like that to make sure when the social distancing can't be achieved, it's still good. but it's way better for me personally to know that my employees are rack city nateed so they don't get sick. >> reporter: you saw the relief from people as they were getting their second shot, neil. they're very happy that it's done. neil: yeah, i would imagine.

it's a nice way to push the process along. grady, thank you very much on that, grady trimble. i want to go to -- [inaudible] i should apologize, and one of the things we're looking at and, doctor, you can help us out with this, is how this expedited process where people are getting the vaccine and businesses are helping them, local communities are working in contour with those businesses, it's really picked up pace. and i'm wondering if you are as optimistic as the president is that by the end of may if every american adult who wants a vaccine dose will be able to have had it? >> good morning, neil. i'm in california. yeah, that's really an important point about our logistical efforts that we are trying to get vaccines in the arms working as they are. and, you know, i'm optimistic and hopeful that as we get better at streamlining the process of getting the

vaccinations to the patients, we're going to get better at this whole process. some of the early challenges with the two-dose vaccines were that heavy reserve, the second dose, rationing for people who have had the first dose. but all in all a, i think the mass vaccination sites, the retail pharmacies' entry into the business of helping the broader public not just the long-term nursing home folks is really going to make an impact locally here in california. and i'm hearing -- [inaudible] i still have many patients who are in their 70s and 80s who are still having challenges getting the advantage seens. -- vaccines. a academic centers, the hospitals, the retail chains, all of those efforts will pay off. neil: you know, dr. singh, i was thinking of all of these states that are lifting restrictions, we're going to be talking to

connecticut's governor who's lifted reductions, still keeping in mask restrictions, but this week texas and mississippi got rid of almost all the restrictions including mask mandates. your thoughts on all of that. >> again, you know, it's interesting, i mean, the -- governor is reopening businesses. i'm actually 100% supportive of this. so many people's lively hoods are at stake, and it is a serious business for them and their families and what the future looks like. it also is a signal to our society to keep a better vision that we have, you know, light at this end of this tunnel, otherwise people will get totally fatigued and start -- their public health compliance. so having said that the, i think what the golf's doing is -- the governor's doing is great, and i think he's kind of walking down the middle on this where other governors who are reopening also are taking away the state mask mandate. the connecticut governor is

leaving that in place. i think that's still good to remain cautious. i believe we're at the last few months where we will be in this sort of semivulnerable spot where people are still getting vaccinated, we're still trying to achieve herd immunity, and we know that the strains exist. so having the maas act mandate -- mask mandate do provide some warning to not be complacent. at the same time, our schools and businesses need to reopen because the long-term effects, the financial aspect as well as the educational, formative years of education and socialization, our children have to be looked at and immediately acted upon. neil: yeah, especially when so many governors are putting that off until at least the fall. it worries me. dr. singh, thank you. very good seeing you again. don't get rid of the masks just

yet. as she was wrapping up there, i do want to pass along some comments that we're getting from the minneapolis fed president, neel kashkari, who's saying the even though the unemployment rate did come down to 6.2 percent, he thinks it's closer to 9.5%. pretty much a lot depends on the continuing distribution of vaccine. would be great to get back to full employment by 2023, but we are not there yet. there is an argument that says if you keep averaging the gains we had just this month, better than 379,000, it would take at least two years to make up the remaining 9.5 million jobs that have been lost and not made back since the pandemic. but he's optimistic. ♪ louder, pump it. ♪ louder, pump it. ♪ loud arer, pump it ♪♪

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♪ neil: all right, i don't know if this is what is giving stocks a sudden pop right now, the dow over 200 points, but two key members of the federal reserve -- i believe they're both voting members of the federal open market committee -- saying some pretty bullish things about the economy, and more to the point, that backup situation in yields. among them is james bullard, the st. louis fed president, who says right now that the 10 plaintiff year yield is actually just returning to the level consistent with the six months before the pandemic. in other words, we're right back to where we were before everything kind of hit the fan. he is not saying that this is justified, a panic in key response. neel kashkari, of the minneapolis fed, was essentially saying the same thing, that the uptick in real yield would give me concern, but we're not seeing

that. if it was something directed at policy, which it is not. he applauded congress as well for wanting to do more to help out of work americans and that the stimulus plan and the wartime equivalent of covid spending is what we need to do right now. so to this argument that it's too generous given the economic performance of late and particularly that strong jobless report, certainly they seem to be hinting, well, it might be. but the better part of valor is it's going to be okay. so it's big but it's okay to be big. and this backup in yields, they're notable, but we're kind of back to where we were. so let's get the read from mark hamrick back with us, phil flynn back with us. mark, i think what they're saying is, everybody calm down. what do you think? >> they would love that, i'm sure. and this is consistent with the shift in the federal reserve's stance recently over the last several months where it is

targeting employmenting more than stable prices. and, obviously, chair powell has said time and time again of late that they're willing to allow inflation to run hot because they have a fair amount of i'm going to call it faith because it seems to come. from a realm that's more like that than it is evidence that inflation will not run hot permanently. but mind you, if, indeed, they saw a hint of that, that stance would be shifting very quickly. so i think they're basically all onboard with talking the same talk, and, you know, basically what they're saying is inflation and the bond market are not a problem until they become a problem. neil: yeah. and normally, and we were just comparing the 10-year note yield with that of the yield on the s&p 500 and what's been a persistent and consistent development is that the yield on the treasury has eclipsed the yield on the s&p 500.

normally that worries those invested in stocks because people can find turns. phil flynn -- can find alternatives. phil flynn, is that why the fed is going to the extent that it is or bullard is going to the extent to say something panicy would catch my attention, but we're not at that point? so he's looking at the same thing we are and not panicked. what do you think? >> that's what it was right after jerome powell shut everybody up, you know, the way he worlded it. yeah, we are paying attention. you know, here we have the other fed guys trying to clean that up and say, listen, we're just getting back to normal. yeah, of course we're watching it because that's our jobs, you know, yields going up, but we're not concerned at this point. we are, you know, this is a sign that we're getting back to normal. and a lot of times, neil, when you start coming out of a slowdown like this, there is the spike in yields. and sometimes they get ahead of themselves.

generally, the economy recovers and those fears are overweighted. so i can understand why they're trying to calm down. if you put it in perspective, they're still in historically range, very, very accommodative. but at the same time, there's a lot of money in, you know, that is going to be looking for yields. i mean, that's been the story for a long period of time. that's why we're seeing alternative investments like commodities starting to heat up a little bit, we're seeing alternative investments in the cryptocurrencies, things that are out of the beaten path as people look for that. so that sometimes when those alternative sources start to look good, it's because the traditional sources are making people nervous. neil: all right, guys, final word on that. thank you very, very much. a couple of things we are following here as we continue here on "coast to coast" is what's happening in new york state right now. by the end of the day, governor cuomo, andrew cuomo, could have all of his covid-19 oversight removed. democrats leading a wave to try

to make sure that after a year leading the empire state through this crisis, that he give up the reins and let others do it. that is a big deal. one of these other scandals, the stuff that's going on there, a big deal too. ♪ ♪ this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them.

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this "wall street journal" report. the report is basically alleging or reporting that cuomo's top aides, his senior advisers, essentially convinced state health officials to change their report on those nursing home deaths. the change, quote, reveals that the state -- a fuller accounting of nursing home deaths as early as the summer of 2020. the health department resisted calls by state and federal lawmakers, media outlets and others to release the data for then another eight months. neil, the timing of all of this is incredibly interesting because as "the new york times" reports, just four days after the release of this altered report, cuomo was publicly commenting about writing his book, "leadership: lessons from the covid-19 pan dem." and now we know, of course, the state had, in fact, underreported nursing home deaths by as much as 50%. they were only counting those

deaths that occurred inside nursing homes, not the patients who died after being transferred to the hospital. the governor's office did respond to this report late last night saying they'd left those patients out because those numbers had not been verified, but democrats like assemblyman ron kim though calling it criminal today as families react. >> we get information that we knew all along was, you know, this is what it was. we knew there was something not correct. >> reporter: meanwhile, the governor is facing more blowout over sexual harassment accusations as former aide charlotte bennett told cbs last night the governor propositioned her for sex. >> and to be clear, what made you think that he was trying to sleep with you. >> without explicitly saying it, he implied to me that i was old enough for him and he was lonely. >> reporter: now, there are,

of course, growing calls for the above to resign. he says -- for the governor to resign. he says he is not going to step down. state lawmakers expected to vote today to strip him of his emergency pandemic powers. of course, republicans believe this is simply symbolic, it really doesn't have a -- neil? neil: all right. thank you, very thorough report. appreciate it. we'll keep you, you know, abreast of these latest developments on the governor here, but, man, the news goes from bad to worse here. he could probably survive, many people say, impeachment pushes and even those calling on him to resign, but he would be a very wounded governor in his last year and a half in office. in the meantime, states roping and spring break here. phil keating is in florida. phil. >> reporter: neil, spring break 2021, the party is on. the beach is getting more crowded. a lot of young people have been hitting the bars and

restaurants, but there are great concerns this year from city leaders because they tonight want it to be a super-spreader event. i've got the story straight ahead. ♪ ♪ these days, we want sophisticated but simple. cutting edge made user friendly. in other words, we want a hybrid. and so do retailers. which is why they're going hybrid, with ibm. a hybrid cloud approach with watson ai helps manage supply chains while predicting demands with ease. from retail to healthcare, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm.

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♪ ♪ [inaudible conversations] >> reporter: welcome back to "coast to coast." i'm phil keating on the east coast, south florida. the sand, the surf, the sunshine and florida's $90 billion a year tourism economy just feeds on the month of march not only because a lot of snowbirds are tired of shivering all winter long, but spring break is also a big moneymaker. and spring break 2021 is on after a year of a pandemic. young people are coming back to the beach. [inaudible conversations] >> if you're coming here to let loose, if you think anything goes is what we want, you're very mistaken. we have lots of rules. >> reporter: while spring break seasons has arrived, concern is high among florida leaders like that man, mayor dan

gelber. they just or worry that all of this pent-up demand from 12 months of a pandemic is going to lead young people to socialize and party hard, and that could fuel covid spread just like it did last year before the beaches closed, effectively killing spring break. one thing for sure n miami beach there's a midnight curfew, about 400 cops patrolling. no coolers allowed, no open containers, and arrests and citations will be made. so far the crowds of kids are not as big as years past. many of the tourists who are simply not on spring break, they're just people taking advantage of the warm weather and, for the most part, spacing themselves out on miami beach's ocean drive and the sand. and the youth seem pretty responsible for the most part. >> yes, i want to go out. i'm dying to go out, but obviously i know i can't. >> we can be responsible for now and then, like, in a couple of

months we can party it up. >> yeah. >> this spot especially like on the streets and stuff people getawaysed, people, you know -- get wasted, i think everything closes around 12. so on the streets after that, it's pretty wild. >> reporter: the rule in fort lauderdale where we are along a1a are a lot more relaxed than south of here down in south beach. there is no curfew here, still plenty of cops, and no alcohol allowed on the beach. and the cdc did a little post-spring break study haas year and found that there was -- last year and found that there was evidence that all of those crowds of high school and college-age spring breakers did lead to some covid spread if, and they all returned home -- as they all returned home around the country. neil: neil yeah. fun but careful, right? phil keating, sounds like a very challenging assignment. you're more than up to tasker clearly. phil keating in fort lauderdale. did you know he volunteered for

this story? all right, we've got congresswoman lisa mcclain with us right now, beautiful state of michigan. i know you've been very concerned about the covid package they're hammering out in the senate right now. you were a no vote in the house. particularly the relief part that calls for $130 billion for schools. you weren't and aren't quite convinced for reopening. where are you on this? >> neil, i think the schools need to reopen. the cdc and the science shows that we are in a position to reopen the schools, get our youth back into school, get them back learning again, get them back socializing with their friends and getting back to normal. it's imperative that we open the schools. neil: but, you know, i guess it's the $130 billion figure where it's not clear exactly how they're going to spend it, right? because a lot of that money, if i'm not mistaken, congresswoman,

is for next year and, indeed, the year after. >> exactly. neil: the rush to get this going, what's the deal there? >> there is a rush to get this going. from the republican side, i think there's an exteam rush to get it going -- extreme rush. that's why i voted no, because we need to come up with a better plan and a better package to get our kids back into school now. not in a year. i mean, we were -- three weeks ago, i'm on education and labor. we in the committee of education and labor, we offered 29 amendments, 29 amendments to open schools and get kids back into the schools. all 29 of those member -- amendments were shot down by the democrats. neil: so this is going to, i guess, get kicked back to the house of after they sort out some issues in the senate. but whatever the back and forth, it looks like it's a done deal, congressman.

this is going to happen, this is going to get approved, right? >> i hope not, but hope's not a good strategy. neil: yeah, i hear you. lisa mcclain of michigan, we'll keep you post ld, as will she, updating us on where this follows sometimes a torturous past. the corner of wall and broad, a big surge in the dow here. i don't like to overextend or analyze these things, but right now some to optimistic comments of the fed district presidents talking about how they're staying calm through this yield, you know, backdrop, and you should too. so far investors are eating it up. ♪ ♪ dance, dance, dance to the disco -- ♪ turn it up, keep it on repeat ♪♪ ♪ key portfolio events, all in one place. because when it's decision time, you need decision tech. only from fidelity.

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cheryl casone he is on all of that. cheryl: it makes sense what you are talking about. a very strong february jobs report, it's been a rocky week but look at the dow, 264 on the dow, we gained 200 points in the last hour, s&p is positive by 31, nasdaq within correction territory, 90 minutes to go is now higher. you want to watch names like apple, amazon, tesla, those are the stocks pressuring the textile office we saw earlier with technology stocks reacting to particular bond yields. there is microsoft, alphabet, facebook and amazon and apple are red, the other 3 in the green. this is a big market story and that is why the official comments play into this, yields drive bond prices, have rallied recently as the economy is

recovering but you have potential for inflation playing into the fear that there is more inflation, that could push the fed at some point to raise interest rates but said officials downplaying that. the 10 year which we've not seen since last year, bond yields extending decline in the last few weeks but one.5% which is down point by basis point, yields drive bond prices. i want to look at tesla. it is lower as you can see by 5 and one quarter%, billionaire investor ron baron sold 1.8 million shares of tesla for his clients, a huge push of stock for him, he sold it in an effort to rebalance the portfolios of his clients. baron capital had 6.1 million tesla shares at the end of last month. baron believes the stock will

increase $2,000 over the next decade. shares of tesla up 338% over the last year. if you sold it you made cash. another stock to look at his costco. sales were jumping 16% in the last quarter, we got that news last night. online sales very strong up 75%. consumers shop for fresh foods, home goods and a lot more things at costco. $44.77 billion in revenue. who doesn't love a little costco. samples are something they don't do anymore but that that was the fun part of going. neil: that and the huge things of meat, like fred flintstone. don't know how they do it, no box, just carry it yourself. thank you very much. in the middle of this talking stimulus and a lot of people look at the improving economy. hillary von is looking at that in washington.

>> reporter: the white house has been upfront that they want things that are in this relief package to be here. one of those is the child tax benefit that is part of the american rescue package that prepaid families monthly after $300 a month per child but that is not sitting well with some republicans who worry the irs sending out prepaid checks is paving the way to get universal basic income in place. senator ron johnson demanded the rescue package be read on the senate for before debate, he sat there for the fool 11 hours and he says he heard the years 2022, and 2023 mentioned a lot for a package that is supposed to be about relief that is needed right now. >> it is appropriating money in the out years for programs that

could never pass appropriate regular order process, that's exactly what they are doing, that is what is frightening about it. >> reporter: an unemployed parent with 3 kids can bring in almost a full salary just in monthly benefits, 1600 extra in unemployment a month on top of what the state is paying out, $900 in free paid cash payments as part of the child tax credit and $700 in food stamp aid. over the years that would bring 39,$000 but senate democrats say these are things republicans voted for in the cares asked. if they did it once they can do it again. >> now that a democrat is in the white house, democrats control the senate, the same ideas they supported when trump was president and mcconnell was majority leader ari liberal wish list, same ideas. >> reporter: i caught up with senator bernie sanders. he did try to push through any

way the $15 minimum wage to include in the package that senate parliamentarian struck down. i ask what do you think? democrats are exploiting a relief bill to get permanent policy through, he says he's not explaining anything, he's doing it because he thinks that is what americans want so they are justified in trying to do it. neil: that is what republicans did and what donald trump supported when he said go big or go home, the bigger the package the better. obviously a little bit of politics at play. jonathan terry following a constructive development in the economy. all the states that are opening up. it has got to be a very busy listed. >> reporter: balancing the economy and public health, the cdc has a study showing new cases and deaths increased in

areas that reopened restaurant dining. researchers acknowledge the potential economic disruption of closing restaurants, pointing out the cdc offers strategies for employers and customers to reduce the risk in establishments that stay open. the same study found daily cases and death decreased in areas with mask mandates within 20 days of implementation. health expert say accommodation of mask requirements and holding events outdoors prevented this year's super bowl in tampa from becoming a super spreader event. hillsboro county officials say a slight uptick in cases likely came from unofficial gatherings in homes and bars but only 57 cases were directly linked to official events surrounding the game. alabama governor kate ivey extended her statewide mask mandates are april 9th to allow businesses time to develop their own covid prevention policies. after that she wants private companies and individuals to

continue to be safe but said she wants government to get out of the business of enforcing it. >> i'm convinced a mask mandate has been the right thing to do. i also respect those who object and believe this was a step too far in government overreach. >> reporter: connecticut is easing back on its pandemic restrictions was on march 19th, fitness centers and houses of worship will be able to operate at full capacity. however, estate wide mask mandate remains in effect in connecticut. neil: thank you very much, speaking of connecticut, happy to have that state's governor, don't think he would get the notoriety, nothing loud or controversial about doing his job and trying to be methodical, ticks off both sides which means he's doing it right. the governor of connecticut.

thank you for coming. these restrictions you are lifting are pretty broad-based but you keep a couple things in place like the mask mandate, social distancing provisions, curfews for restaurants at 11:00. that was by design. you didn't want to go crazy. >> we are not texas but we figure by march 19th we will have the overwhelming majority of everybody 55 and above that in a. that is where 99% of the complications and fatalities are. we thought it was time to lift the occupancy of restrictions but keep in place the masks. that works to make a difference was the mask and social distancing. neil: we talk about aged based eligibility, it is for those 55 -- 60 and over in your state --

how does it work? >> 55 and above now. neil: regardless of your occupation if you are in that group 55 and older it starts with you. >> that's right. you show up, you have your license, identification that says what your age is, you get vaccinated. we don't get into disputes who is more essential than somebody else as a worker was comorbidity you are to have priority over somebody else. we found 80% of the comorbidities are older folks anyway and we are taking care of them. stuart: julie: sorry i backed into it. you are opening at full capacity, restaurants, retail stores, explain how all of this will go.

>> as of march 19th, full capacity with two caveats. you have to maintain 6 feet of distancing. in the public space, unless they are eating. >> outdoor venues. indoor venues at 10%. for those family functions if you are in a home or what have you what the top number versus in a public location? >> you are testing me here. in a private residence, 25. a smaller group so you can

track and trace. you want to have a wedding or nice birthday party for grandma and haven't had a chance to see you for a few months, you get 100 people because it is catered. lou: that would apply as well, holding that at a commercial establishment, the gathering number goes up. the more people can gather, are they still wearing masks? are they still distancing? a retailer who doesn't really like to have many people in his or her store, cannot cut back on the people bringing into the store. >> if you are in a store, we want you wearing a mask because you are in public venue.

when it comes to those gathering sites if you are outside, much more liberal on that because it is so much safer. neil: the travel advisory, into the state they would have to quarantine, does that go now? what happened? >> it has gone from mandate to guidance. everyone is in a different category, some people tests before they got on the plane. doing that on a voluntary basis. adam: the counterparts in the tri-state area, governor murphy in new jersey. >> i talked to charlie baker,

and the same lines as we are. some restrictions in place and alongside new jersey, at a different pace going in the same direction. adam: in careful consultation with medical experts, what does your gut tell you? >> my gut tells me by this summer, everybody wants to be vaccinated, that would be from a scientific point of view when i think we open up totally. i have the end of my executive powers on april 20th so i have a little more than a month and start working with the legislature more closely on this over the next few weeks. neil: you run the show, the

response in connecticut, likely to take that responsibility from governor cuomo. any thoughts on that? >> having a strong executive taking the lead a little longer makes sense. at least in the case of our state 121 legislatures deciding what the vaccination on to the or when the bar opens and closes. we will all be getting back to regular order. adam: is it a mistake stripping it away from the governor? >> you have some disputes, no question. my instinct is when it comes to covid i would give him a little more leeway but he better be consulting with the legislature because they are looking over his shoulder. >> the vaccination, as things stand right now?

>> it is interesting to me, you can out at 75 person, the nurses in the nursing homes, everybody vaccinated, 25 persons hold off. everybody over 75 we have vaccinated, the other 25% are holding on so we will see if that trend continues. we will see what happens this summer if we find there are still 20 or 37 people who don't want to get vaccinated. rob: only thing that worries me that did not come up among your concerns, this will hasten the possibility of jen psake family reunions. this is not the best news, you

are doing a good job for the people of connecticut, thank you very much. >> we can have gatherings of 6. neil: very productive, getting this done with political gain trying to work with both sides like an adult, mike the wine in ohio might start operating the same way. this should be common sense and he has shown it in spades. we will have more. ♪♪ lately, it's been hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors

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adam: the dow over 306 points. not sure when everything goes away for limitations, a number of states across the country

like mississippi and texas, when go to a theater reagan, 25% capacity, it is the real opening trend, for the economy. more people get back to business, the more business we see. and what is going on, mask and requirements notwithstanding, and teachers groups, and what is going on in maine. >> the more you reopen, the more you get people back to work. the thing we are concerned about are the 12 million people remain unemployed given the fact so many parts of the service sector remain closed. the more we see businesses

reopening at full capacity, unemployment comes down very quickly. we are positive on the real economy here. 50% of the oversight are vaccinated. and if you look at data coming out of his really have a drop of 95% infection in over 65. the healthcare system is vulnerable. you will see more reopening then there's a reason for businesses to close at this point. adam: it is tough to crack down or do something unless something really horrific happens. the latest employment report, the jobs gain of 375,000, the

reopenings. >> there was the area that got killed a couple months ago. great to see them come back and i am happy to see the economy do what it is doing but the numbers we have today, every month for the next two years, to get back where we were pre-pandemic so we have a lot of work to do. a lot of good news is baked in the cake a little bit. we will see the market struggle to go higher when we get things like this but how high can we go before you worry what interest rates will do, because of things turning over very well, what inflation might do and we will start to see this tug-of-war between the interest rate market and equity market because the equities have done so much work since pre-pandemic lows. interesting to see how it takes place over the next eight month. adam: what is different this time is the federal reserve

indicated in the past politics as usual in the markets have followed their bidding, not so now and i'm wondering if this is the revolt or the sign jerome powell and these other market rate settings on the federal market committee, they can't control this. the genie is out of the bottle, they can buy things until the cows come home, no offense to your cow but it is not going to work. it is not working this time. >> it is worth reminding the audience the fed can control short-term interest rates but not longer-term ones and that is where the equity trade may trade on yield and as yields move higher you compress the multiples on high growth stocks the we all know and love and stuffing every portfolio. what you want to keep in mind is the bond market where the 10

year yield is above where it was january 1st, 2020. you have to invest accordingly, you need to rotate into the more economically sensitive areas. neil: we are back to where we were before it started but for people who don't remember that they worry this keeps moving, treasury yield gets higher, competition for stocks. does that worry you? >> when we had 0% interest rates i was worried about inflation and we were begging for it, stealing for it, we tried to invent new planets to borrow the inflation but couldn't get any. i will not say it is different but i am more concerned about it because i said you could see it starting to get on board but the money and savings out there, hope to have your yellow caution lights flashing because this could get pretty hot pretty quickly.

however this is what everybody should remember. a bowling ball going to the boa constrictor's stomach, we can't 5% gdp every year. at some point this will be over. i call it the i deserve it economy. let's go on that trip, i deserve it. when that is done and the hangover of spending the money you have been saving is over we will face 40% tax on capital gains or corporations so there will be a hangover and we will face the biden administration's tax policies and that is the danger. >> we need that word of caution, i want to explore what is happening on the retail front with both of you and why some retailers are getting excited about dress for success

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$1.9 trillion rescue package. the white house chief of staff tweeting the following, quote, if you think today's jobs report is good enough then know that at this pace it will take until april of 2023 to get back to where we were in february of 2020 but republicans argue the report reaffirms their belief that we do not need a multi-trillion dollar relief package at this point. >> the economy is recovering, there's a lot of work to be done on the health side and the unemployment side, we were ready to go there but when we have these other things to the tune of $1 trillion that is a nonstarter. >> the national unemployment rate at 6.2% but when you look across the country it shows how that could change region by

region. places that have been more lax on business restrictions and reopenings like the south and parts of the midwest, the unemployment rate their much lower than in places like parts of the northeast and on west that had more restrictive reopening policies. neil: the blood glassdoor chief economist, andrew, the concern with such good numbers of late and a trend with companies reporting good news themselves for we don't need this, we are beyond that and we will get them the stimulus plan, then what? we have something that might be too big, too much but we will get it so what is the danger to the economy? >> today's jobs report was a strong start for the biden administration but the economy is in a big hole, 9 million jobs down from where we were before covid and the big risk, having an all or nothing approach to stimulus which

everybody believes there is some support unemployed workers need with 4 million long-term unemployed people but how big should it be? i believe 1.9 trillion might have gotten a little something for everyone but is it too big to get agreement and get lawmakers from both sides on board? neil: they are going to get lawmakers on board but they will be democratic ones, not republican ones. we have seen that before picking up legislation. what i am asking in conjunction with talks of an infrastructure plan that could be double what we are spending on this can you overheat and economy? could something like this over do it? >> you can overheat the economy. we've seen it many times in the past. in this case we are a long way from that with 9.5 million jobs

down from covid and many businesses still struggling but on the other hand inflation expectations are rising as the economy improves and treasury yields pick up. i think every economist regardless of politics expects late this year in 2022, to be a big boom year so there is a risk of going overboard but it is hard to say whether this particular bill will do it. neil: is an economist in your own right, the argument for the boom is it will create huge revenue and a lot of this could be paid for from the boom in revenues from this. do you see that? >> i do. what is happening in the economy is for every case of kayleigh mcenany -- every case covid it is only time for doing travel, going back into spending. all of that generates revenue not just for the federal government that state and local governments who are struggling

during this time so that's one argument for reducing the economy now as you see some revenue pick up. i generally don't think that is the best reason for doing something like this. the real reason for the stimulus package is we were so close to the end of the pandemic, we seem to get long-term unemployed workers and small businesses struggling just to the other side so they can make it through and keep being job creators in 2022 and beyond. neil: i appreciate it. a little news, the wall street journal is reporting tariffs between the us and the european union over the dispute between boeing and airbus are going to be suspended for four months, trying to ease tensions between the two trading partners and even surely get rid of the tariffs that blocked a host of other issues and opportunities for both regions.

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>> i caught something when i was done with andrew chamberlin. as extensive as the stimulus plans are, if they lead and contribute to a boom in the economy they can pay for themselves was i wonder what lisa levine thinks of that, scott, you could pay for that 2 trillion just on the economic and generation of revenues. what do you think? >> hope should not be part of my business plan but it is. i hope we can do that. it is money we don't have. we don't have the money to spend in the first place so we have to have a ever earning about path.

$2 trillion is a lot of money when we have $1 trillion waiting to work its way through the system too. this idea that i have said over and over if we open the economy, looks like it is sooner rather than later because it is starting, there will be a time when people have to get used to going back out again and sitting shoulder to shoulder in nice restaurants. that will take time and the only way out of this is time. you cannot solve a virus by throwing money at it. it is a psychological issue and we have to work through it over time. that is the safest way to do. hope is not part of my business plan is i hope we get this money back through the economy but not sure that will be the case with texas at the end of the rainbow. warner: that was you behind me a ihop. if you justify spending a lot of money hoping it will generate a lot of money, does that work the internet boom,

wasn't a legislative developer and as much as a market and economic force of nature, do a lot of that and produce surpluses. i am not sure whether the stimulus plan or infrastructure package that could be twice as expensive will do that but i could be missing something. >> we did an exercise on the $1.9 trillion plan and only half of it is going to rescue, to fill in income members of the country are missing because they are unemployed or underemployed because they work and service sectors and need to get to the other side. that money, there is a next or $1.8 trillion sitting in the bank, for us households. that is extra, we think that is

going to be spent over the next 12 months. we get growth, and a booming growth. what happens? do we get a clip? we are acting positive on the growth outlook. it could be double digits. >> we might get tested and spend all of that afterward. how likely is it? >> i call it the i deserve it economy. the growth is based on the fact that will happen but that is a 1-time event. that is sugar water, and if you look at biden's tax hike plans that could be a problem when we come out of this hangover or giddiness of 10% or 12% growth. it is a short-term issue. we can't bank on that. i am more worried about 24

months from now than 12 months because everybody thinks this will be fantastic and we will grow like a gangbusters. i can see that but what happens when we wake up? we have to have the caution lights on. neil: thank you very much. for those in the metropolitan area, movie theaters are open at 25% capacity. so now what? ♪♪ an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it

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and perfect for enhancing yoga and pilates. and safe for all fitness levels. get gym results at home in just 10 minutes a day. no expensive machines, no expensive memberships. get off the floor with aerotrainer. go to aerotrainer.com to get yours now. neil: movie theaters are back in new york city but some stipulations here. they are kind of opening but you will have time to spread around. lidia in new york city has more on this. >> big day for the big screens in the city, 25% capacity is a

limitation on their reopening. we are at amc theater in times square in this particular chain is planning to open 13 locations across the city starting today but patrons should expect a different experience, their new cleaning protocols, mask requirements, the capacity limit of 25%, not just 50 people. that capacity restriction would keep nearby regal cinemas, that chain will stay closed for now and will reopen when the capacity limitation is expanded to 50% so they can, quote, operate profitably. amc did reopen half of its peers across the country through the fall, also reportedly lost millions per month on doing that. also problematic for the theaters, during a lockdown several movies get the theaters altogether, went straight to streaming platforms to get to

the viewers as moviegoers say there's nothing like seeing a movie in the theater so they are back, listen. >> i'm a movie fanatic, my happy place. i like watching it at home but there's nothing like the experience of the theater. i love it. i have missed it. >> something else to note, amc benefited from the controversial redit trading activity, they identified the amc stock and started with surprise investments and that help to them should $600 million in losses helping them to survive and open today. what does this mean for concessions? where we are? concessions are open. you can eat them. i got some popcorn if you are planning to come by here. you've got to wear your mask in the theater, take it off while you are eating but ready to go.

neil: i was wondering about that. . and and a variety of -- they get paid time off to do these vaccines. thank you for joining us. good news on the theaters. plus that restaurants you on and elsewhere were doing with new york coming back. >> excited to see connecticut reopened. this is a sign of great things to done in terms of getting restaurants back, the arts back

and new york city back to his city beloved all the reasons we live here. neil: i am sure your workers get anxious, they want to work but they are concerned about their health and safety and you are trying to help them along. explain. >> when you are in a restaurant setting, you have seats for your customers, your colleagues and beyond that business concerns. to come and we enjoy ourselves the way you always have for thousands of years in restaurants. we unfortunately -- it can be dangerous. somewhat conversant with liability provisions with federal statutes, we decided, paying them for the time to get

a vaccine, like we did in the past with the flu vaccine was when i got my vaccine, a once a year visit. neil: the workers response has been what? >> next. i would say i was surprised by some people i thought would be to get the vaccine who said they wanted to wait, that they didn't trust the vaccine. i chose not to argue with them. a lot of times you have immigrants in this country who don't have access, acknowledging the same way you and i might have access to the technology, they don't know where to go to get the vaccine so setting up appointments for them, for many of them the obstacle is how to schedule it or go back.

much more so than the cost of being afraid of the vaccine. neil: you sound like a good boss. when i worked in the food business i could have used a boss like you but that is another issue that we don't have time for that. very nice, good to see you. ♪♪ well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim.

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>> all right they're moving ahead with stimulus right now the dow in and out a little bit more than 403 points an idea one way or the other one way or the other here's charles. j neil great seeing you friend folks it is a roller coaster, in fact, these are the kind of markets i love. this is the ultimate test, can this market bounce back the day after jay powell disappoint of impacted streak nasdaq slip into correction territory and so many questions linger big text will they bounce back is the dollar too strong, and is really are interest rates at this level high enough to justify all of the panic? and what about today's jobs report in the reopening of the economy, by the way, feel like you wok long hours, you are, and for less money. we're going talk about the productivity shocker and more than anything else we're going to talk about this mar