people go to costco to stock up. what is everyone doing now, they are stocking up. >> we are showing a rolling video of numerous parts of a costco store shot in new jersey on february 29 showing types of products price, nonperishable items toilet paper used to be here can we also say bjs and sams or walmart, is this the same thing for all of these >> it is the same for walmart and target. we saw kroger's numbers yesterday in line. the expect for costco were far exceeded by the numbers and even talking about most recent trends will be a big beneficiary. >> dana, thank you still ahead on the show, we are live in austria where opec leaders are proposing the largest oil supply cut since the great financial crisis "worldwide exchange" is back after this these days you need faster internet that does all you expect and way more. that's xfinity xfi. get powerful wifi coverage that leaves no room behind with xfi pods. and now xfi advanced security is free with the xfi gateway, giving you an added layer of network protection,

if i could just use the costco target as one example. costco, major chinese state-owned enterprise. so we designated two subsidiaries. and i think that was important, because it sent the message that i indicated in my speech, that no one is too big to fail. but also, the result was important. so after we designated costco, we engaged in several rounds of discussions with costco to ensure that they will comply with u.s. sanctions going forward. they created a sanctions compliance programs. they changed behavior. they changed behavior, which is the intent and purpose of our sanctions. our sanctions are not necessarily meant to punish. they're intended to change behavior of actors to become consistent with u.s. foreign policy. and i think they did that. >> let me follow up on that. so costco changed their compliance behavior. have you seen other shipping companies, for example, in the sfri, who looked at costco and said, wow, we don't want that to happen to us? have they similarly changed their behavior? are there indications of that, as well? >> there are indications of that. and we'v

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we hit the walmart, costco, and safeway. safeway has got to be the winner.y were packed full of items. that may be the best opportunity to go in if you need to. reporting from south san jose, dustin dorsey, abc7 news. >>> dustin goes back at 6:41 and you'll see everything wiped out. that's the place. >> probably they go there for their groceries where costco, they go for supplies. >> to be honest, i've been washing my hands. i've not been stregss out. >> i'm bought extra groceries. >> land washing i. >> i do that a lot. my wife is stocking up on bulk item not in a panic mode but to be on the safe snide we try to anyway because of our earthquake kit. >> i'm was at costco and one of the store managers looked like the stampede. the past two days have been unbelievable. never seen anything like it. working hard. >> some people are taking advantage of the outbreak and trying to milwaukee a profit. governor newsom tweeted a screen sought from amazon. hand sanitizer through third party sellers well available over retail price am 24-pack, over $400. on ebay someone

take a look at these pictures from someone who visiting a costco in wayne, new jersey. been to that one over the weekend. it wasn't me now we have nowhere to go. and everyone's taking the baby wipes. they found empty shelves like these and the run has lifed toks like kroger and costco which is higher in the past week and has earnings after the bell, let's bring in rupesh from open heimer good to see you. first of all, can both kroger and costco cope with this level of demand for the foreseeable future >> yeah, i think they can. so i was at costco the past few days and stocks on the toilet paper so i think ko is handling it well and then for kroger, i would say the same thing if you give these companies time, they are able to restock their shelves, so i would expect the stocks to continue improving in the comiing days >> i guess the question goes back to the long-term benefit that these stocks might see. it's understandable there would be kind of a one time rerating as people say you know what, and by the way, they have backing buy kroger r and costco has been one of the

the costco relationship or vsp is relative low knew so it hasn't done something like go become in the history of vsp. at some point as more and more pressure came for vsp to consider a and that's what led to the alignment with the costco organization several years ago. perhaps eight to 10 years ago. because of costco buying power relative to the buying power of a typical vsp lower cost than a typical network provider so vsp constructed the frame allowances this way in order to close low a loin the total percentage of available frames that are available through a non costco network provider at or below the frame allowance to then be similar to the percentage of costco provided frames add or below that allowance and so for instance, based on information that it provided to me, probably this $80 allowance provides the ability for someone to purchase perhaps north of 60% of the frames available at costco with no cost sharing beyond the frame allowance and i don't have the specific figure but it just, that's a round about estimate and that is similar to an estimate now granted it may vary

i didn't even bother going to costco, brian, because i can't even face costco on a regular day, so --he only -- just you and i talking here and i'll say something that i'll probably get in trouble thing and the whole toilet paper hoarding thing, i don't get, if things go really south and you've got to shower i'm just saying if things really were -- you know what i mean >> well, the thing is how much do you need? and the bottled water -- >> people are fighting over toilet paper >> the coronavirus -- i know the coronavirus isn't going to force them to turn off the water as far as we know, but -- by the way, they're making plenty of toilet paper at the procter & gamble plant in oxnard where they're working extra shifts supply is not a problem, but there are these hiccups as everyone goes up and hoards and they're rationing toilet paper purchases. >> i just had to say it and i know you would appreciate it, jane >> one farmer recommended -- one farmer recommended corn cobs, old fashioned. >> old school. >> jane, thank you very much jump in the pool behind you and clean yourself right off >

does costco always break it out like that? or we they specifically trying to highlight the impact of the virus? >> they still gives us they monthly comps. sometimes the calendar doesn't end clearly with the end of the month and the end of the quarter, so there are instances where they have to give us two numbers in the same release of course, the end of february ended up to be a pretty important period of time >> thank you costco and gap trading up. take your pick, mike. >> costco very rare, obviously a 9% comp for the quarter. whatever the effect was as a company this size is still pretty impressive. gap, the market's valuing companies like gap as if they're not really fixable a new ceo seems like from the better part of the business. >> there was talk of splitting this company up. >> there was it's constituent pretty debt cash flow. the market doesn't want anything that has more than 1,000 stores, basically. >> and everything is on sale at all times, gap and old navy. >>> let's look at how we finished up the date dow lower b

the pain is coming. >>> coronavirus fears are keeping costcos busy.formed outside the costco in sana clarita. the run on items has been going on for days. costco is just one chain limiting the number of key items keep customer is allowed to buy to prevent hoarding. walgreens is also putting a cap on high-demand items. >> one thing they was looking for is the toilet paper. they didn't have any. i wanted to get toilet paper. but they're out. >> we're getting lots of water. we have five in our household. just in case. >> we need soap. it's gotten crazy with the corona, so. >> costco customers may have noticed no more free food samples. costco stopped giving out samples last week. >>> disneyland is the latest to announce closures in response to the outbreaks. the theme park will shut down disneyland park and disney california adventure park starting saturday. they will remain closed through the end of the month. the company says the decision was made after reviewing governor newsom's new deadlines that limit gaernthings of more than 2 gathers of more than

. >>> chaos at costco. lines wraparound the building as people stock up on supplies. >>> anxiety levels on the rise as the president's european travel ban takes effect tonight. >>> wedding venue cancellations. >>> as of 8:00 p.m. yesterday evening, 79 county of santa clara. that's 36 more cases than i reported on monday. i have signed a mandatory order prohibiting public or private gatherings of more than 100 people. >> santa clara county takes dramatic action. >> public schools in santa clara county will close to student attendance beginning march 16th through april 3rd, 2020. each of these institutions are giving guidance, doing it frankly with the heavy heart because there are tradeoffs with every decision that we make. >> i recognize we are in very difficult times. these decisions are hard to make. we are balancing the public health need to slow the spread of infection with a significant impact, we know these actions will have on the lives of our residents. we believe these actions are necessary to prot

in a few moments, we will hear from rival costco. costco at the moment is down 1.5%.t likely we are going to hear them talk about the impact i think of the coronavirus on its business. kristina, i would imagine this is good impact, right? kristina: i feel like everybody has been using this story in financial media, lines at costco around the country as people stock up on toilet paper and hand sanitizer. i really hope your family member is not going to actually make their own, by the way. but a key metric we are going to be looking for with the earnings after the bell is same store sales. this is sales open at stores for more than a year. expecting a little bit of growth. they are expecting 6.5% growth. see if that's been hit by any type of the virus. earnings per share, expecting $2.06, on revenue of $38.2 billion. costco overall has been doing quite well versus the broader market, up 8% over the year. as we take a look at some of the research, i was trying to check before going on air, there's a lot of buy ratings, bullish analysts on costco. i guess it's going to co

perhaps they're heading to the costco the groceries year is because a lot of people are making a run for the supply us yeah, a lot more on that part of story to a little bit. thank you very much real quick note the dmv is also going to stay open. >>but the department is telling you to avoid going to their offices for the next 60 days unless it's absolutely necessary. most renewals can be done online or through the mail lot of their services can be done online to double check that first, but there are a couple reasons why you would need to go there in person and that includes things like small og issues and recent transfers of vehicles. the dmv is also asking law enforcement to use their discretion when they're in forcing expired registration licenses because they know a lot of people may not be willing to travel out to get that stuff done during this coronavirus outbreak. so far though unclear how local law enforcement is going to comply or handle that dmv request. >>what about over can you can't go to the restaurant so you're going to have to order and so over eats is responding to

if not there target. >> many costcos say they are out of the same items. >> people are going to feel a little more threatened and scared. >> the risk of getting coronavirus in the bay area remains very low and there is no need to panic. >> it is not to be scared but instead be prepared. wash your hands well. cover your mouth. and if you are truly sick stay at home. if you need to, go and see the doctor. >> the supervisor here said they will have more rice, morni. but he anticipates once again customers will clean them out. >>> crews remain on the scene of a massive fire at a strawberry farm in monterey county. it began with a traffic accident. >> thick black smoke seen for miles saturday. that heart of it destruction of dozens of rolls of plastic used in strawberry fields. >> you shouldn't run toward it. you should run the opposite way, but it is more where my husband used to work and we wanted to see it. >> officials say their curiosity could have led to a health risk. >> fumes from burning plastic can be toxic. >> it is like they thought the air show was happening. they had 200 car

this costco is out of bottled water. all paper goods, and of course the disinfectant wipes. i'm jodi hernandez, nbc bay area news. >> thank you. so that's the scene in fa fairfield. this is a live look in san jose, the lines not wrapped around the biddin building. it is still very active. the parking lot is full and shelves relatively empty. earlier today, same costco, hundreds of people lining up an hour before the store even opened. one shopper told us about the chaos that unfolded earlier. >> people are nervous right now and don't know what to do. when you get people together like this, it's like, i don't want to wait, i'm going in, because i got to get what i got to get. people get a little rude sometimes, and that's not fair. >> that's not just costco, look at trader joe's. food and other essentials literally sold out. yesterday was the biggest day in store history. we'll find out what the tole tals are today. >> at this hour, there are 170 cases in the bay area. theyle a they all announced new cases today. santa clara has the most, 79 at last count. as a result, the co

. >> thousands of people are rushing to try to get into the costco here. >> plus, a vaccine trial getting fast-tracked with a shot in the arm. >> everybody's feeling so helpless right now, and i realized that there was something i could do to help. >> this special edition of "nightline," "covid-19 outbreak," will be right back. ♪ do you recall, not long ago ♪ we would walk on the sidewalk ♪ ♪ all around the wind blows ♪ we would only hold on to let go ♪ ♪ blow a kiss into the sun ♪ we need someone to lean on ♪ blow a kiss into the sun ♪ all we needed somebody to lean on ♪ ♪ ♪ ♪ all we need is someone to lean on ♪ >>> good evening. thank you for joining us. tonight, the fight against covid-19 is steadily intensifying around the globe and here at home. from sweeping new curfews to doctors racing to create a vaccine, there is now a new normal for all of us. >> are you considering instituting a nationwide lockdown, a nationwide quarantine? >> at this point not nationwide. we may look at certain areas, certain -- certain hot spots, as they call them. we'll be looking at that. >> reporter: the

the costco relationship or vsp is relative low knew so it hasn't done something like go become in the history of vsp. at some point as more and more pressure came for vsp to consider a and that's what led to the alignment with the costco organization several years ago. perhaps eight to 10 years ago. because of costco buying power relative to the buying power of a typical vsp lower cost than a typical network provider so vsp constructed the frame allowances this way in order to close low a loin the total percentage of available frames that are available through a non costco network provider at or below the frame allowance to then be similar to the percentage of costco provided frames add or below that allowance and so for instance, based on information that it provided to me, probably this $80 allowance provides the ability for someone to purchase perhaps north of 60% of the frames available at costco with no cost sharing beyond the frame allowance and i don't have the specific figure but it just, that's a round about estimate and that is similar to an estimate now granted it may vary

>>shoppers arrived at costco before the sun came up on tuesday just hours after the shelter-in-place went into effect at midnight the line started out 2 hours before opening with a dozen people one hour later the line grew it started to wrap around the building with hundreds of people the line even reach south airport boulevard before the store even opened it was out of paper towels and toilet paper minutes after the doors opened rice was completely out one point things became tense in line as this man claims someone cut him store employees managed to calm down the situation to keep the line moving in a safe manner. >>my question is what was so dire to want to wait this long line. >>one shopper had a pretty good reason because i've got some people are flying off shelves as they can. >>the 2 main items i saw people exiting the grocery store with was water and disinfectant wipes you can see some shoppers were wearing mast, others wearing gloves. people obviously trying to take some type of precaution. it can be dangerous for elderly people and those with compromised immune systems to w

. >>> costco change its store hours amid the pandemic.out the new shopping time for seniors and the group of people that will be joining them. rand fast, reliable, secured internet from xfinity can help. we have plans to fit every budget with speeds up to a gig-all at xfinity.com. we'll ship you a self-install kit that makes setup quick, safe and easy. no tech visit required. and our simple digital tools will help you manage your account online. at xfinity, we're committed to keeping you connected. find great offers and value, today, at xfinity.com >>> good morning. san mateo county preparing for a surge of coronavirus patients. we'll tell you what's being done at an event center to help fight the covid-19 virus. >>> california court cases affected by the antioch outbreak, some people may stay in jail longer. >>> good morning. thank you for joining us on this last day of the month of march. i'm dave clark. i'm with my great colleagues. we're social distancing. got gasia here. steve paulson there. sal is here, as well. we thank you for joi

>>daria not so much the line here at this costco in south san francisco on south airport. boulevard it is growing by the minute last time i talked to there's about a dozen people in line now i would say there's about a 100 people in line and people just continue to get into it take a look at this video you can see shot around 7.30 so not too long ago and even then the lines seem long but the let me tell you that's nothing as compared to what it is now a lot of people in this line started at the the business center in south san francisco. but apparently that was so long at 7 o'clock that they came here for some better opportunities even though an employee told me that there's absolutely no products here so no to a paper no paper towels but they're still waiting now take a look at this live look this is where the line started okay, this is the line and then 30 minutes later it was right about here and now an hour later and we're talking about it wrapping around the entire building and look you can see people are wearing some people are covering their faces with a clothing an

costco is up more than 8%. apple is up nearly 6%. ing the way i was made to.nourishes and strengthens my joints for the long term. osteo bi-flex - now in triple strength plus magnesium. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk while our competition continues to talk. wewithout the planet cooler getting warmer. at emerson, when issues become inspiration, creating a better world isn't just a result, it's a responsibility. emerson. consider it solved. >>> back to the volatility the dow up well over 500 points. our two guests join us guys, good morning >> good morning. >>. >> good morning. >> alan, you would argue that we shouldn't expect things to just bounce back to normal easily how should investors think about what we need to know about the coronavirus before people's minds get -- >> yeah, unfortunately, looking at virus data and, you know, we're all experts on the economic side rather than the medical sid

a line wrapping around the building at this costco in washington state. and in northern california, empty shelves as people stock up on things like wipes, toilet paper, and water. health and human services secretary alex azar promising to expand testing. >> we're ramping up testing. we now have 75,000 tests available out there in the united states. over the next week, that will expand radically. >> kaylee joins us outside the nursing home. health officials could be dealing with a bigger problem in washington? >> reporter: that's right, tom. researchers in washington tell us their analysis of samples of the virus strongly suggest there has been the virus spreading for six weeks in this state. authorities have shut down a high school after a student tested positive there. and tonight, two newly confirmed cases in california. tom? >> kaylee, thank you. >>> next to the growing travel danger as coronavirus cases jump. americans urged to cancel or reconsider travel plans to europe and asia. the louvre shut down. 130 new cases in that country and a nearly 80% in

>>the parking lot and inside the costco in coma today who is packed telling a saturday or sunday there. yeah, real man house as a matter of fact conferees maureen kelly talk to those has been a trying to fill their pantries at the local big box stores with the central's like toilet paper in an aseptic wipes and. >>found empty shelves. what are you buying today basically i was looking for like hand sanitizers things to wash your hands with clean. the house with rhonda williams filled her car with the items she was able to find around lunchtime inside the coma target, they're pretty low or nonexistent on. >>cough and cold medication and pain medication and they'll have their ha looking for one this is the aisle where they keep the toilet paper which you can see has been wipeout. there were several areas which had mostly empty shelves inside although an employee tells e. >>trucks come in every morning soth can restock their shelves but high-demand items like antiseptic wipes at t p get snatched up quickly. one man emptying his shopping carts as he came today because he wants to avoid comi

. >> meanwhile, this was the scene in many costco stores across the country. huge lines and empty shelves as people stock up on supplies and cleaners. >> there is some encouraging news. stock prices rebounded slightly overnight. a sign that the dow may open higher this morning after suffering big losses last week. abc's ines de la cuetara has more. ines, good morning. >> reporter: good morning, ken and zohreen. at least 74 people have now been diagnosed with coronavirus in the u.s., and researchers believe the infection may have been spreading undetected for weeks. late sunday, officials confirming a second death from coronavirus in the u.s. a man in his late 50s outside al iss but nhad underlying health officials in washington state also confirming two new cases, both men in their 60s, also with underlying health issues, both in critical condition. the cdc now sending a team to help contain the potential outbreak at a nearby nursing care facility. at least two people testing positive. dozens more being examined. >> i think it's very important that we treat th

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liz: this is interesting costco's sales, same-store sales are climbing 12% in february as demand fornd cleaning products have propers far and wide diving into the stores. the virus rush not all good news, the wholesalers say in the daily deliveries are not enough to keep up with the surging demand and has been forced to place limits on certain items to keep the store shelves from be wiped out completely. the stock down 2.7% at $306.13. a little profit-taking at this hour. it is important to close out the week with more than 8% in gains for costco so it's not all a bad picture. we talked about it but i don't want to ignore the really strong jobs report, we have not mentioned until now, 46 minutes into the show, very strong number. >> will talk to pete on friday, it gives us a nice cushion to go into whatever it is were going into. we have that and we will see how we close out the week as it appears now off the lows and for whatever that is worth going in. we have president trump tracking the closing bell and he should be at the cdc in atlanta and we should see his movement in larry ku

costco is suspending free samples over safety concerns. seen a jump in sales, as shoppers race to stock up on cleaning products, and household essentials during the coronavirus outbreak. cnn's david culver shows us how china is keeping shoppers from spreading the virus and panic. >> reporter: in the u.s., when you're stocking up for a hurricane, a blizzard, or a viral outbreak, you tend to buy in bulk. shanghai residents flocking to china's only costco location to do that. and we joined them for some shopping of our own. so this is the long line that's moving actually at a pretty good pace, we've heard several announcements as we've been standing here, and essentially they're telling people, keep your distance from the person in front of you. >> the store only allows 1,000 customers in at a time. the wait outside, about 10 minutes. >> all right, we're going in. they told us to come into this one line where they're going to take our temperature here. >> carts sanitized one by one. but some shoppers adding a layer just to be safe. all employ

. >>> up next, have you been to the store or even costco? toilet paper, pasta, over the counter meds sold out in many locations. costco making some changes. we'll tell you about it next. awesome internet. it's more than just fast. it keeps all your devices running smoothly. with built-in security that protects your kids... ...no matter what they're up to. it protects your info... ...and gives you 24/7 peace of mind... ...that if it's connected, it's protected. even that that pet-camera thingy. [ whines ] can your internet do that? xfinity xfi can because it's... ...simple, easy, awesome. [ barking ] >>> you probably know this. it's the thing people are stock piling food and supplies. costcos around the bay area are seeing lines out the door. people are loading up on food, toilet paper, hand wipes, over the counter meds, anything you can think of. in some cases, actually in many cases, costco and other stores around the bay area limiting the amount you can buy. >> i'm the least prepared person. i have four kids. this is double what i usually

you're selling off costco because no free samples? costco is down 2.57%. walmart moving higher by a third of a percent. walmart knows it will get more shipments of things people really need, whether it's cereal or toilet paper and of course, sam's club parent walmart literally the only stock in the winner's column for the dow on a renewed recession concern. people will want to shop where prices are better. dollar store chain, well, interesting, these are getting a boost from a prepping and economic slowdown, fears around the globe. dollar tree, the top nasdaq performer, it's up four bucks or 5%. nice move there. dollar general up 1.5% or $2.42 to $160.80. we should take this moment to check gold. i don't know if we can put it up. let's get that yellow metal up there. it is retreating from the more than $1700 a troy ounce level that it hit in early trade. right now we are at $1674. that earlier high was another fresh seven-year high. the shiny commodity settling modestly higher, up about $3.30 an ounce. in the aftermarket, we are up just $2.40, $1,674 per t

into the costco -- >> reporter: lines snaking around the building before dawn. the country running out of basic items like toilet paper and water. the stop & shop grocery chain announcing new early shopping hours for customers 60 and over. facing questions at the white house, president trump made clear that they are not looking at a nationwide quarantine at this point. but he did say they are evaluating so-called hot spots, hard-hit areas across the country, to see if any additional restrictions could be required. whit johnson, abc news, new york. >> our thanks to whit there. >>> across the country, hospitals and health care workers are facing a critical shortage of personal protective equipment. >> pretty concerning. the items in short supply include, get this, masks, eye shields, gloves, gowns and face shields. the fda says masks not intended for medical use can be made available to health care workers. that agency is also working on ways to conserve supplies. this as two emergency room doctors in new jersey and washington state have tested positive for the vi

abc stopped by the costco in san enforcing a limit for toilet paper, paper towels and water bottles. only two packs or pallets per cart. customers we talked to noticed the difference. >> there is no hand soap. a lot of the shelves especially on the top where they stock all their paper towels, you see they brought it all down. so all the shelves up top are all empty. >> costco has always stopped giving out samples. >>> despite warnings about avoiding large clouds, plenty of people showed up for the white elephant in oakland. hds event every year. the board says it is the biggest rummage sale in northern california. it also runs tomorrow from 10:00 in the morning until 4:00 in the evening. >>> staying home, but just through the weekend. the popular film festival is postponing next week's events and moving them to august. no refunds are being offered at pass it will be honored during the summer edition. only one artist has canceled for the rescheduling. >>> and the warriors game is going on as scheduled this night at the chase center this evening at 5:30. additional cleaning staff has b

look at costco, up 7.25%. consumers snapping up groceries and cleaning products as they prepare to stay home versus eat out. fears of the deadly coronavirus may trigger wider quarantines and event cancellations, propelling that name, costco, to, yes, the very peak of the s&p 500. by the way, clorox is up 6%. walmart, better by 5.33%. those names are not far behind on the s&p 500. >>> we should look at china's online version of costco. it's benefiting big-time. shares of jd.com surging to the top of the nasdaq after reporting fourth quarter revenues gained 27% year over year. remember, this is a chinese company, as online ordering surged. that stock is gaining a very significant 12%. let's flip it over to travel. we know the travel names have just gotten hammered and they continue to struggle here. iag owns british airways. it says it's canceling some flights to the u.s. so talking uk to jfk, due not of course to any coronavirus threat but reduced demand from the fears of travel. we can flip it to delta, as int

. >> costco, right, can't pass up a good costco trip, no matter what. >> give a shoutout to costco. and chico's. they have people outside some of these stores wiping down the carts for you, the handles, so. >> no kidding. >> they're taking precautions. they're being really good. the community is, you can see the community pulling together, smiling at each other, like, let's just all stay clean, and go out and get along. >> if you wanted to, which, by the way, you could, since you can move out and about, would you feel comfortable taking the train, let's say, into manhattan? >> yeah, so i actually work in manhattan, and this is my first day working from home, i'm fortunate enough that i'm able to do that but i've been commuting every day up until now, and i've also noticed a lot less people on the trains. people wearing masks, but i haven't felt like nervous or scared to at all. >> i would not take the train. >> she's different. >> here's the thing. i'm not going to put myself at a higher risk, anything you do once you leave the house, you put yourself at some type of risk. >> spoken

there's just degrees of losing given everything happening at the top of the food chain, walmart, costco, target, best buy and probably going to see more impact than the rest of that universe, you're going to be okay. you've got vendor power so if there's supply chain disruptions on a systemic basis, the vendors still apt to ship to you as an important customer and an advantage at the upper end of the rating scale as you get further and further down and if they're in a competitive sector that has the guys in it, there's going to be stress. >> could this be the event that pushes some companies hanging by a thread into bankruptcy what impact would that have? is there any way that the credit reflects that pricing? would those event just be kind of be end of the story >> this is an absolute shock to the system and i don't know that anybody has priced anything close to this into any credit risk at this point. >> you think worse than what the market's saying? >> it is hard to say we are taking -- our macro board put out a piece this morning taking a first half approach and we don't know what w

the costco relationship or vsp is relative low knew so it hasn't done something like go become in the history of vsp. at some point as more and more pressure came for vsp to consider a and that's what led to the alignment with the costco organization several years ago. perhaps eight to 10 years ago. because of costco buying power relative to the buying power of a typical vsp lower cost than a typical network provider so vsp constructed the frame allowances this way in order to close low a loin the total percentage of available frames that are available through a non costco network provider at or below the frame allowance to then be similar to the percentage of costco provided frames add or below that allowance and so for instance, based on information that it provided to me, probably this $80 allowance provides the ability for someone to purchase perhaps north of 60% of the frames available at costco with no cost sharing beyond the frame allowance and i don't have the specific figure but it just, that's a round about estimate and that is similar to an estimate now granted it may vary

president trump -- costco.t trump announcing a nationwide national emergency, urging folks to work from home, schools announcing long closures and people preparing to quarantine. they're stocking their pantries with enough to last them a couple weeks at a time, especially shelf-stable items like pasta sauces, battled water, canned soups, and we're also now seeing today after those items went very quickly, a rush on fresh items like chicken, ground beef and fruit. there are some indicators of some farther reaching shortages. on amazon toilet paper's largely sold out, deliveries are delayed indefinitely for some items. on costco's web site, you can't even buy baby wipes anymore, and some is services like amazon fresh and prime pantry are booked for several days. you can feel the tension inside the stores. at one point this morning at that costco in yonkers, police had to close down access for a two-hour period because it was is so overrun with shoppers. there was a backup for about a mile of cars just reaching th

walmart is big winner with larger retailers like costco. i want to focus on costco for a second. that is one of the s&p 500 winners. why? you have the expectation that people are still stockpiling. so they are going to costco to by. pictures of huge lines in costco optimism towards end of the day, that traders, investors, believe, policymakers, central banks will come through to mitigate any type of impact from the coronavirus on the global economy. back to you guys. melissa: kristina, thank thank . oil snapping a six-day losing streak. let's go to phil flynn with more on that. phil. >> it sure did. kristina said you never want to fight the fed or all the central banks across the globe. oil prices are responding to a big move back up on the stock market. even signs of demand destruction, even though it has been historic may have not been as bad as we originally thought. there is a lot of talk about opec. they're the central bank of oil. they like to tell themselves that's what they are and there is a lot of rumors swirling around about a production cut. the meeting goes on the 5t

to costco's pulling food samples from all its stores in the us and in china. here kron 4 we are working to separate the facts from fiction surrounding coronavirus as part of that effort today, the host of inside bay area politics catherine heenan moderated a panel of 4 bay area health experts to dispel some of the larger rumors about the virus and now lso the money and is here in the studio with us too. >>help give us a sense of what they had to say today l a. >>well all week long we've been talking to travel experts about whether you should cancel your upcoming plans but what about surgery, i mean people who are feeling sick are headed to the hospital. so here's what the doctors had to say on the panel today. >>that's a tough question because many hospitals make money and so in a and that's probably an area where they probably do make money. hospitals are feeling the impact it is a consideration depending on what haas where the hospital's located in what they're patient burden is potentially with this illness that they would potentially up to just even not ev

. >>> costco is taking steps to keep people from hoarding supplies.ple were lined up this morning outside the costco in danville. hours before it opened. and because of the surgeon panic buying costco has now set strict limits for shoppers on bottled water, toilet paper and paper towels. >>> joining us now with more perspective on the shelter place orders that take effect at midnight is dr. israel, thank you for being with us. talk about michelle's, shelter and places that the record could we see things go further? >> shelter in place is absolutely the right call. as a physician, i am actually very relieved to hear that. because in an area where there are community spread shutting down bars and restaurants and gyms and malls and other places where people tend to congregate, whether in director, that is the only way to limit social interaction and keep that social distancing at the forefront where basically we are trying to decrease the spread and that is the only way we can do it. i am absolutely for it. what the future holds for us is very tough to p

. >>> we're back now with long, long lines outside of a costco in santa clarita, california. a surge of shoppers flooded the store on thursday with hundreds of people lining up. now similar scenes have played out across the country as the coronavirus outbreak spreads. the hot-ticket item for many? toilet paper. stores have been forced to place purchasing limits on some items. >>> adding to the call for america to increase its capacity for coronavirus testing is one of america's top public health officials, dr. anthony fauci testified at a house hearing thursday that america has failed. >> but in an interview with abc's linsey davis, he clarified what he meant by failed. >> so you testified today that the u.s. testing system is currently failing and we're not set up for universal testing. who's responsible for this failure? >> i don't think it's anyone that's responsible. what i was referring to is the system as it was originally designed was really designed for a patient to doctor relationship in which the cdc would make a test, give it to the public health authorities in a p

today the mountain view costco sold out of water and clorox wipes. chinese-american leaders say they are seeing an increase in xenophobia. today hundreds denounced the bigotry at a rally, and stores are seeing a drop in business there. >>> in palo alto two students were sent home from school after district officials learned they might have been exposed to the coronavirus. >> cleaning crews wearing protective gear were disinfecting doorknobs and water fountains and cleaning was also happening aic officials learn friday a parent of two students was possibly exposed to coronavirus. on the district's website the superintendent said as a precautionary measure the district took action and the two students were sent home and will be excluded from attending school until more information. >> concerning? >> absolutely. >> some people attending sporting events at palo alto high didn't know about the virus square? >> i teach as well, and i am very conscious of that, airborne, you know, coming in contact and things of that sort and i think we were caught with our

costcos across the bay area -- area are packed as they load up for more things.hey are trying to be prepared while dealing with the uncertainty. >> i have four kids, this may be double what i usually get. but, yeah, so, we are just worried about the virus. showed up today and it's just chaos. there's a huge line to get toilet paper from the back of the store to the front and all the stores are empty with things. >> it's been chaos for a couple of weeks at costco, another couple said that the children's school is closed, they had to buy plenty of supplies and they are hunkered down at home. >>> usually the dmv offices are the busiest places to visit, but they are less crowded now days. the employees are saying people are coming in as the virus spreads. those that did go in to the dmv say they only did because of a deadline. >>> up next, at 5:00. we are going to go live to the cruise ship docked at the port of oakland, why the ship won't be leaving right away, even though all the passengers will soon be off. >> can you get the coronavirus more than once. we are ans

. >>> andrea live at costco in san leandro. it has been crazy there all day long.>> reporter: parking spaces are still a premium right now. we are in one space to do our live shot. someone asked us can we move we need to get in there and shop right now? lots of people are concerned about having their family home constantly and being able to feed them. there won't be school lunches or work lunches. everyone will need to be taken care of and people are stocking up. >>> with school shutdown to work from home if you can the mandate of the day bay area residents one staying confined to the walls of their house. they were hitting the stores. >>> my regular shopping. i always shop on foot. i'm buying a few extra teen things. some of the shelves are bare now.>>> that was actually on my list. >>> summer responding to their new normal. kids at home everyone at home. and no expiration date in sight.>>> we are preparing right now. we are just buying extra. we will eat the stuff in the next few weeks. we are buying it now. >> reporter: no d

here's a look at the photo a fe toe of a very empty costco. this just came in from dom there is not much of it. those familiar are shopping at costco know what section it's in the back where you have the toilet paper, paper towels they said they laid down a palette of this stuff over the weekend, some of those shortages do persist today >> all right well, there you go that is empty. not sure why looks like russia -- >> not sure why. but -- >> yeah, there's a sense of people needing to say, it's both if you, your household is quarantined for two weeks, you can't go anywhere, you want to have the stuff you need and if supermarkets can't get employees, it's not a reliable supply there's been no example of that. dealing with natural zasers and different things on a wide scale, in that case, costco was having a great day yesterday it's dropping and so are the rest of the retail names down about 2% as fears of the coronavirus spreading in the u.s. consumer. the group is down about 15% from its recent highs oliver chen is managing director at cowen,

but i understood just can't sell it opposed to i understand that it was supplies at costco's are areoff the show yeah it all that's just in la that's just south. there's it's happening everywhere everything is happenin everywhere people are don't think you're well yesterday, the wall street was in pac mode to wsaw the biggest. >>one day decline since the well sincblack monday back in 1987 and here yosee the. >>while she was trying to make a bounce-back the dow right out of the gate jumped up a 1000 points looks like it's pared back some of that by about half trading at 21,007 64. investors trying to end this ading week on an up note, but as you can ee it start to st on tom hanks and his wife who as we know have the coronavirus and they're stuck in australia. they are yeah he tweeted out a picture of the 2 of them. >>smilg putting on a brave face right and thanking everyone in australia for taking such grt care of them as they try to recover in isolation after testing positive for coronavirus hank says that they're taking it one day at a time. and despite all the current events handed

well if the misspellings didn't give it away is a myth a quick look at costco recall page showed there was no such toilet paper recall. so let's just fletch that myth right out of our lives now he is another myth it's grown out of the shortage of coronavirus test kits the myth is that you can get tested for covid 19 by giving blood this has the ring of authenticity because donated blood is tested for some infectious diseases, including hepatitis b and c and of course hiv but banks will also does. >>all right we have some breaking news tonight. the governor is getting a live update now on california's response to covid 19 much listen. he's. >>and over the course of the next few weeks. there were a series of technical actions. the state of california took today to codify announcement i made last night specifically to the issue of school testing as a father of 4 young children. as a member of a system of public education in the state of california counts over 6 million a student but deeply anxious parents caregivers of those that to are no longer in we put out directives yesterday and dis

plus a big change coming to costco today it has nothing to do with the coronavirus. imagine that.e on fbn:am. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room. ♪there's a me no one knows ♪waiting to be set free so, what's the empty suitcase for? the grand prize trophy ♪i was born to be somebody lauren: nationwide academic taking center stage during first one-on-one debate between bernie sanders and joe biden the candidates waste no time slamming president trump's response to coronavirus. >> well first thing we've got to do but we're not on president is to shut this president up right now is unacceptable for him to be blabbering with unfactual thftion. the world health organization offered, offered to testing kits

costco has suspended free food samples because of safety concerns. if you have any questions about the coronavirus, we've got answers for you. go to abc7news.com/coronavirus. we have an entire page dedicated and related to stories. all the information you need to know about this illness. >>> let's turn our attention to the weather, because showers are here in the bay area tonight. this is a live look outside from the kgo roof camera. let's check in with sandhya patel who is tracking the storm. >> rain is knocking at our door. san francisco did receive enough from drizzle. 0.01 of an inch night, ending the 37-day dry streak, the fourth longest dry trech, not a record we want to look forward to. here's a look at the rain along the north coast. as this level one system pushes in tomorrow morning, you are going to feel the chill. here's a look at the forecast. after midnight, the showers move in, tomorrow morning around 8:00 p.m., you are looking at wet roadways. i'll let you know how long you're going to need those umbrellas. >> thank you, sandhya. trac