. >> ceo of hyatt hotels. there are 600 and the united states come up -- and the united states, with 7000 employees. we have a large base of group business in the u.s. we have been tracking major cancellations. we now have tracked in the u.s. events, not major sports events, but universities and those kind of things. actual convening conventions. when we look at just the other meetings that have been canceled, there are attendees of one and a half million people. when you think about the ecosystem, there are major convention markets were those attendees are not showing up, not going on airplanes, not staying in our hotels, not going out to restaurants. the collective impact is quite serious. the key issue i would agree with his the urgency is very high. day by day, the occupancy rates have dropped. now we are seeing occupancy below 10%. -- and thel digits single digits in the vast majority of our hotels. pres. trump: do you see a quick buildup? >> at all depends on how confident people are to get back on plane

it is not a hyatt hotel. you know what your business is going to do. >> and there are clearly winners. we mentioned the zoom video like a $75 stock. and there have been some winners through all this as well but getting back to apple quickly because i know on the monday after they said that they would be hurt bay what is going on in china, the stock was down i think $5 and we commented, you know, it is surprising it wasn't down more the next day the stock was making an all-time high. we had a conversation on the desk saying it is not ridiculous to think that this stock should retest 280 well, not only did it retest 280, it got much lower than that but it did it on almost 200 million shares this is a stock that trades 30 million shares a day so i hear what everybody is saying i'm not saying rush and buy it, but if you are looking for something to trade against, those two days with extraordinary volume are as good as anything on the down side >> okay. good conversation there on apple which had a huge day >>> so

if you were a marriott or hyatt or hilton and eight, nine years ago you had an opportunity to invest in a small startup everybody thought was crazy, air bnb, now its valuation is three, four, five times greater than the market value of those companies. we believe that electric propulsion will fundamentally transform aviation, just like jet propulsion did in the 60s. it's actually much more economical. so battery technology is at that stage now, right now as we speak, that a vehicle carrying four people can go 200 miles. in ten, 20 years, maybe 30 customers can go 5 hundr00 mile maybe 30 years it can be the size an of an airbus. we order aircraft ten years in advance, right? so joby, it's not that far off. they'll likely have commercial operations in the united states 2023, 2024. >> what has been some of the biggest innovations you've invested in and maybe have a tangible relationship with consumers. >> i think one of the most tangible that customers can point to right now up in about three years ago if you wanted to contact jetblue as a customer, you could go to the airport and talk

hyatt and fairmount hotels have properties there. accor is down 5.5%. hyatt down 8.25%. finally, along with many other privately held chains including the four seasons, windham, the w and the omni, they are also as we hear from reports on the ground, there are cancellations coming in. if rooms are canceled, you could probably bet that flights are, too. the international air transport association saying today that the coronavirus could hurt global airline revenue by $113 billion. southwest airlines today issued a revenue warning, saying it's already seeing significant declines in demand paired with an increase in cancellations. you can see right now that american airlines is down 11.5%. 11.25%, rather. delta down 6.5%. luv, i just want to say because it moved off the screen, southwest down 3% right now as united and jetblue also cut flights. >>> to ibm and walmart. they are severely curtailing employee travel at this hour. the retailing giant, walmart, is down about 1.5%. it has canceled its u.s. customer conference scheduled in dallas next week. ibm which is down 3.75% h

in sacramento, hotel guests were told the hyatt was closing and they had to leave. >> the fact that there's no one around, nobody in the streets. it's quite frightening. >> reporter: the leading labor union says nearly 300,000 hotel, restaurant, and casino workers will lose their paychecks in coming days. nowhere is the impact more >> my everyday life is affected to pay bills and making sure i have enough food in my fridge for my family. >> reporter: the projected travel-related jobs lost would on their own nearly double the u.s. unemployment rate. that's just one industry. jamie yuccas, cbs news, los angeles. >>> this morning millennials are being reminded to practice social distancing to prevent them from catching and passing coronavirus on to others. still many of florida's beaches are filled with spring breakers after the governor decided not to close them down. laura podesta looks at the dangers. >> reporter: hundreds of beaches in florida remain open despite a growing number of people infected with and dying from the coronavirus. >> unfortunately this coincided with spring break which

in the 1950s, general electric road hyatt's factories in new york, massachusetts, and connecticut employedany thousands come of the industrial center in some ways. every year americans bought more tvs, more radios, or more freezers. ge was not just a company, it was an icon. it served the space program and the tennessee valley authority. americans trusted general electric just like it was as a trusted the game of baseball. a good company that follows rules the essence as you know the soviets in 1959 invited the u.s. to create a display about progress at moscow. the colicky park. america sent several modern kitchens and the lemon yellow one was general electric. most ge executives at the time, we are talking about the late 50s, like execs at most companies at that time had a set view of how capitalism works. the private sector was invincible. it was like a workhorse or moo cow. what it was supposed to do was to serve as that milk cow for the public sector. the government herded the private sector like a domestic animal. john mader and keynes noted this at one point to ge or most of ge, that

the ceos of marriott, hilton, hyatt, and other chains met with mr. trump yesterday.y discussed what they say is an unprecedented falloff in demand. hilton's ceo told the president hilton has had to close some hotels for the first time in a century. marriott, the world's biggest hotel chain, announced the furlough of tens of thousands of employees. >>> on the cbs "money watch" now, you may have more time to pay your taxes this year. and united is cutting flights. diane king hall is at the new york stock exchange with that and more. good morning, diane. >> reporter: good morning, anne-marie. well, let's start with markets first. asian markets finished lower this morning, and wall street futures are indicating a lower open here. but stocks rebounded yesterday after enduring their worst day in more than 30 years. wall street shared white house plans to pump some $1 trillion into the company, the plans could, to soften the blow of the coronavirus. the dow ultimately rallied 1,048 points. the nasdaq jumped 430. the s&p 500 was up 143. >>> grocers are limiting purchases on

has however been rejected by some of the extremist factions inside the shattered province including hyatt torah which exercises defacto control the russian military didn't count as some opposition along the road this sunday saying it changed its route to avoid risking civilian casualties. cherished civilians including women and children as human shields the russian turkish coordination center decided to shorten the route distance to avoid any incident that could result in civilian suffering. video of one disturbance on the highway earlier shows a group of syrians protesting against a joint patrol the men byrne's tires and used cars to blockade the road so that the military vehicles could not pass russia and turkey have been backing opposing sides in the ongoing civil war in syria which will soon be into its 10th year but in recent months have come increasingly can you direct confrontation mosco has accused of failing to abide by the astronaut and sochi agreements but by not separation makes trimix functions from the more moderate groups political analyst yousif erin believes the joint pat

thinner and healthier the question is only the means of how we get there now let me also ask you about hyatt which is last mutable down the way that although i know that there are clinics both in russia and in the united states that do a lag extensions it's been known for some time that taller man earn more they're also they also fare better on the marriage market so to say but i've seen. a couple of studies suggesting that women are increasingly opting for shorter males you know the short tide is no longer you know a major disadvantage is that an example of beauty being reinterpreted at least male beauty to the extent what you say is correct and have not seen those studies again i would say it's not a reinterpretation a big. beauty is basically independent of height rather it's a reinterpretation of another aspect that affects outcomes such as marriage and earnings namely height so yeah i think that's if in fact that's going on i view this as good and maybe can reinterpret the importance of beauty in these outcomes and maybe someday probably long after i'm gone people won't care very much a

in sacramento, hotel guests were told the hyatt was closing, and they had to leave. >> just the facthat there's no one around, there's nobody in the streets, it's quite frightening. >> reporter: the leading labor union says nearly 300,000 hotel, restaurant, and casino workers will lose their paychecks in coming days. nowhere is the impact more immediate than las vegas, where servers like christopher bannon have already been let go. >> my everyday life is affected with stress about not being able to pay bills and making sure i have enough food in my fridge for my family. >> reporter: the projected travel-related jobs loss would, on their own, nearly double the u.s. unemployment rate. that's just one industry. norah. >> o'donnell: stunning to hear those numbers. jamie, thank you. and there are more changes to report as america adjusts to its new normal. we just learned the new york stock exchange is closing its trading floor next week after two confirmed cases of coronavirus. all trades will be done electronically, and that's the first time in its history. mola lenghi joins us now from

cease fire holds the accord has though been rejected by some of the extremist factions including a hyatt which exercises the fact of control inside the shattered province the russian military did indeed encounter some opposition earlier yes they sunday saying it changed its route then to avoid risking civilian casualties. terrorist strikes the civilians including women and children as human shields the russian circus coordination center decided to shorten the route distance to avoid any incident that could result in civilian suffering what you're seeing here is video. only screams of one disturbance on the highway early showing a group of syrians protesting against a joint patrol and then burned tires and used caused located the road so the military vehicles couldn't pass. rusher in turkey have been a course on opposing sides in the ongoing syrian civil war which will be into his 10th the end it isn't intended but in recent months they had come perilously close a direct confrontation hence the diplomatic one back of late. failing to abide by the estimate and such agreements by not separa

hyatt will fund health insurance premiums for the new workers.ow just how the airline industry has been hit. a major airline in the u.s. has scrapped several thousand daily flights. that is your business flash update. let's turn to some of the measures being taken to fight the economic downturn. cuomo's governor andrew executive order giving your homeowners more time to make mortgage payments has major consequences for hundreds of millions of dollars of contracts. explain to me exactly what the objection is to this provision by cuomo. two has to do with the applicability. it falls under the jurisdiction of the department of financial services, which regulates all new york registered banks. there is nothing wrong in course, with andrew cuomo trying to do everything he can to provide relief for homeowners and small businesses. this provides 90 days of forbearance, meaning people can pull back on mortgage payments for nine days. there is no explicit exemption in the order for what are called qualified financial contracts. those also fall under the u

hyatt hotels also withdrawing its previous 2020 outlook.crochip technology, they pulling epshey are guidance and seeing sales flat because of the virus. banks are extending their travel stanley andrgan wells fargo imposing .estrictions on travel remodeledrlines have their whole structure for pricing. they are facing a tough situation because they've had to engage in massive cancellations. 25% of italian flights. had already suspended flights to parts of asia. jetblue is one of a host of allowingthat is passengers to change or cancel flights. that is the policy right now. >> analysts were saying the pressures on industries are likely to get worse before they get better? su: absolutely. knowing onto the bloomberg, you see the rising tide of cases. looking at san francisco airport, it is important to point out this is san francisco airport in the u.s. -- you can see people walking around in the u.s. at the airport with facemasks. we also have a lot of people starting to hoard food. amazon has been overwhelmed with orders for prime deliveries a

so you've seen furloughs from marriott, hilton, hyatt, macy's, kohl's, gannett.e package from congress, the big stimulus, it has provisions in there to try to keep that infrastructure for some of these companies intact. if you have a furlough, they don't tell you to go away forever. they say if the work comes back, you can have that job. keep your health care and the government pays your salary for the next four months. >> at least -- >> christine -- sorry, sorry. a contraction of 34%, by one-third. that's remarkable. >> we have to rub our eyes to see is there a decimal missing there. a 34% contraction. goldman goes on to say they think there will be a snapback in the third quarter, more like a v-shaped recession than a u-shaped recession that everyone is talking about. those numbers are not that controversial, really. when you look at some of the modelling other people have, we stopped pa big part of the american economy, just stopped it in its tracks like we've never done before. the numbers are terrifying, but they reflect just how dramatic the move here was.

of hyatt a little bit out of been along for the come in the door though a lot of them in the game can. use going to lead them on the couple will know that i said you're not going to like that if all of them in a. war with me and it meant. less him making a claim to but i feel it's personal for you i'm cygnus a bit off the alcohol and. let them come but then you know a couple of them you know. they most anything i would want ice falls in love i'm not about. what then you. know the one that i've been known as i had some of it she a machine with many moderates in our socks then in and in then about 5 going to have go. a lot of shit went on a lot of well how does it even looks like not going to get up to. a local law. this image woman in a mommy should not go. after. you have seen a man away at. the most looked a little more khaled either but oh honey it's a sawyer sure you could talk to. one of them but you probably know there was a big boy in the normal. excitement when a little. missa could also develop to be picked about i want to. be in. the minus on the. public company bit but i kno

the hotels -- hyatt said they would offer refunds between now and june.th most of the chains. if there is a silver lining, airfares, hotel prices falling. >> bill: they getting is good for a moment. 4 professional leagues limiting access to the locker room. interviews will happen. reporters have to remain 6 t 6 to 8 feet away from athletes. fans as of today are said to be still welcome. stay tuned. we are here every day monday through friday. set your dvr and never miss a report. we have had a bounce back today. how about that? charles payne. >> charles: folks, stocks are surging. you are looking at the dow jones industrial average closing above 1100 even as the coronavirus fears continue to flare up and president trump trying to calm things down. welcome everyone, i am charles payne four neil cavuto. this is "your world" to a stimulus plan to keep the economy from slopping. senator john kennedy was not convinced those tax cuts where needed going into that meeting. how does he feel now? we will also talk to congressman doug -- he came in contact with the

shares of hyatt are moving lower after the company with drew its previously announced 2020 outlook due to the coronavirus saying the financial impact is limited with the dow just under 5% and the home builders are the green spot they are jumping as rates continue to move lower lgi, lennar and pul are higher >> chuck schumer blasting donald trump for potential danger of the coronavirus outbreak >> we need the president and his team on level with the american people and tell the truth. more during a health crisis than ever before. our public health professionals must tell the president the facts. and the president and his team must tell the american public the facts. just the facts >> british prime minister boris johnson said keeping the company safe is the government's overriding priority. it released the coronavirus action plan including worst case scenario estimates british firms are being warned up to 20% of their work force could be forced to take time off. and poem francis testing negative for the coronavirus after he thought he was infected the vatican saying he is simply sufferin

robert, that's connected to the hyatt across from levi's stadium. it's for big conventions usually. now it would become a hospital? >> reporter: that's right. i've done a lot of events myself here. it's usually a packed house all the time. now it's basically deserted. even the hotel next door, you see little activity going on there. we have to emphasize that the medical center that will be built here will not handle covid-19 cases. it's not going to be a hospital. it will handle triage and nonemergency situations so hospitals can make their own -- >> it looks like a massive 300,000 square foot inside. but coordinators toured the schar a convention center to figure out how to convert it to into the one of the eight statewide convention centers to deal with nontrauma cases and others. this man is glad to hear it. >> i ht's no symptom of coronavirus. but i was scared to go to the hospital because i know going there can contract something else. >> the federally-led effort is a response to themes of overwhelmed medical facilities. in china and italy and now new york. >> if it's operation

attempts today to buy the airlines, to buy some of the travel and leisure stocks like vail resorts, hyatt hotels that happened before the comments that kelly was making look at the heaviest volume etfs today related to travel. the airline etf, that went positive a little while ago. travel and leisure etfs there had been positive. slightly down today. that's not only airlines but that's hotels, as well, in the whole business so some selective attempts here to buy at the bottom. >> we are all watching to see if the sectors hold the gains we appreciate it thank you. >>> let's dive deeper into selloff today and we're seeing some parts of a rebound, different story in the plunging bond yields. join mega is jim carol and andreas garcia jim, let's start with you. what are the implications of this move today? >> i think in many ways this is a hedge. people are looking at u.s. treasuries as an asset class with scope to go up in value one in the world with a positive yield and very, very liquid. i don't think that it's just about interest rates i also think that we have to think about the credit co

like at wyndam down 9% hyatt down 13% let's bring in priceline founder. what do we do about coronavirus? >> we recognize it's anew reality in the market. when you cancel the big ten tourn m aament and the nba, peo say this is the real thing you can argue about what's real or not with the virus but you can't argue with everything, schools closing. a new reality is what you're seeing pricing in the market and in the travel world. people don't do voluntary activities when they are afraid. what the travel sector is trying to do is slow down the spread. they are worried about the health care system they they are trying to flatten a different curve. you deal with the yield curve. on the u.s. government, they're talking about the health curve they are trying to flatten and push the curve out so the hospitals don't get overwhelmed. that's a smart strategy for the united states. tough for travel >> i honestly wonder if we shouldn't declare a two-week national holiday you can interpret that however you need toyoit to be interpretd it doesn't take us to the way of i

the dow today on news of the stimulus package took a pop-up come as you see the hyatt midday and finishing points up. let's bring in the panel. byron york, "washington examiner." mara liasson, national public radio. jonah goldberg, editor i editorf of the dispatch. mara, seems like the treasury secretary was adamant that it needed to get out right away. the present bushing as well. where are we on the package? >> i think where we are is we are in a new chapter. the federal reserve has done what it can. monetary policy has done what i can. now it's fiscal policy and that means the administration and congress are going to get in the act and it looks like they're going to send money to individual americans in the form of checks, not in the form of payroll tax cuts that get kind of doled out in tiny amounts over time. so whether this is going to help when people can't go out of their houses and spend it in restaurants and bars because they are closed, you know, we now have a demand problem, not a supply problem. we don't know. but it's the kind of big kind of bazooka that the markets wanted to

you were at united and hyatt all of those companies are feeling, to varying degrees, the kinds of things you're talking about. given that, and given your experience, which -- can you triage which industries would come out first >> sure. you know, i also ran starwood hotels and the philadelphia 76ers for two delightful years as its ceo look at how much americans have been deprived of so many industries temporarily shuddered. i was a very unhappy basketball fan when the nba season suspended. so many of us are disappointed but the country is going to come back how quickly, nobody knows. exactly in what circumstance we're all going to learn together it's providing relief for our employees. it's providing relief for our communities. providing relief for small businesses, for large business it will help various parts of the economy to come back i do think entertainment will come back pretty quickly because people want to be entertained. i spent much of my career in the travel industry. i think the travel industry might come back slower as might be expected. you know, fast forward not two weeks

hill on the and hyatt are saying they are undergoing furloughs following a sharp decline in hotel occupancy does follow a similar decision taken by marriott last week et doesn't make economic sense to keep the hotels open when occupancy is running so low. kelly, back to you >> thank you very much >>> we're going to take a quick commercial break with the market sitting near session lows. the dow down almost 900 points don't do anywhere. scott wapner on the other side of this. we'll see you for that i consulted with your grandmother's doctor. we can do the screening at her house. hi. this is the man that's going to check your eyes grandma. cognizant ai solutions are helping healthcare companies advance diagnostics and prevent blindness in patients with diabetes. everything looks good. you have beautiful eyes. ♪ we're committed to making college more affordable., that's why we're keeping our tuition the same through the year 2021. - [woman] i knew snhu was the place for me when i saw how affordable it was. - [narrator] find your degree at snhu.edu. we segetting to patientscines in record time.

fred hyatt, the editorial director of the washington post said the choice should and almost surely willwatching the diverse field. he mentioned governors, gee in a from new mexico, the governor from michigan, stacey abrams is always mentioned in georgia who has been working so hard -- >> it's a testament to how many fantastic women there are. i think the ticket is really important. the entire ticket is really important to have diversity of gender as i strongly support having a woman. i think racial diversity is also important. and id logical diversity. i think it's important for the vice president to figure out ways to reach out to the entire party as he has done over the last week and as he did last night. >> and we should mention amy klobuchar, elizabeth warren, and the women who have run, kamala harris. >> and klobuchar. harris, they're all fantastic. i think there is a sorrow that so many -- that we -- so many women have not been able to make it into the final two. >> nira and se seal, thank you. >> coming up, we'll answer al your questions about coronavirus. our correspondents cove

several real estate investors, often by separate operating businesses, that run a hilton garden inn or a hyatt place, they tend to be locally focused, they have mortgages, capital they need to make sure they can tap in to survive this crisis and reopen when you talk about the $150 billion, we're really talking about tools that might be available to both of those communities in order to support them as we go through it. >> you talked about a 75% decline in revenue the number of hotel closures continues to rise with record low occupancy across the u.s at what point do liquidity concerns start to be something you pay a lot of attention to, the strength of your balance sheet here >> marriott is in one place, we've been a solid investment grade for long time. when revenue and, therefore, ebitda disappears, there will be pressure on our debt to ebitda ratios and we'll have to make sure that we work our way through that and we're doing that, of course. with we will make sure we take care of our own balance sheet. more than that is making sure the network of hotels, which is -- you know, has hundreds

great powers were driven to the edges of the complex spectrum because we are so dominant and on the hyatt rungs of the escalation letter. and so, nobody thought they could win a war against the western military and that is why they were driven to the edges of the complex spectrum. moreover, i think the notion thathe russia and china are revisionist powers, they are reductionist powers. russia has determined it can be successful on western terms and so as they rightly point out in the book it's taken a liminal strategy wishes -- that because that's not a word everyone hears. >> working off the margins and trying not to cross the threshold that everyone would provoke, direct confrontation with the west. that is a smart marginal strategy and it indicates thatt we are still in their minds, dominant in the middle of the conflict spectrum. both in terms of what they are trying to achieve politically and how they judge their military opportunities we should acknowledge that we start from a notion of the success of what we did and it is just not going to be good enough and dave makes that argumen

scores of them and now more than a 100,000 or so workers, we're looking this father hilton hyatt bestls. they're also if not already in the process of considering it or doing layoffs and furloughs are on the way for them to james now the coronavirus is forcing california's government to find new ways to get work done. >>the legislature closed the state capitol to the public after sacramento county officials issued a stay at home order. lawmakers like assemblyman ken cooley are back in their districts after both houses voted to go into a month long recess. it's believed to be the first time in a 158 years. the state lawmakers have taken a step like this. >>shut the capitals actually to put the tory where their presence could have. former detective also means. because this is a person ever remember being out in the community is still has her eyes and ears on. of the coronavirus you sure that no one has thought about. >>state government agencies are still up and running but many staffers are encouraged to work remotely from home. 2 members of congress have tested positive for the coronav

executives from several hotel companies, including hilton hyatt best western and choice hotels so that they're also considering layoffs. >>the number of coronavirus cases across the us continues to rise. right now there are more than 9,400 confirmed cases in the u s and 150 people have died in california. there are 870 cases now and 16 deaths so far in california in the bay area 400 confirmed cases of coronavirus have happened and 7 people have died and here's the breakdown by county. a 175 people in santa clara county have tested positive and 6 people have died. in san mateo county there have been 80 confirmed cases and one death. san francisco counties have 51 cases 41 in contra costa 31 in alameda and going down the list marine county has 15 solano and sonoma counties. 8 cases each and they're still not reporting any positive cases in napa county or lake county. but again that's because testing has been so limited. we are waiting for more testing to begin nationwide and speaking of lake county. they now have jumped on with that shelter in place order it goes into effect. well at mid

hilton and hyatt confirm they are under going furloughs of employees following the sharp delid decliline. hilton says it will affect tens of thousands of workers. 28 of the company's hotels and resorts have temporarily closed. some news from cvs health says furloughed workers from hilton and marriott will fill some of the 50,000 job openings it has you get some of those workers back to work >> thank you very much we appreciate it >>> let's let everybody know, remember the trillion dollar club with microsoft, apple, grade scho google and amazon. only one is worth a billion and that microsoft stay with us ♪ yes i'm stuck in the middle with you, ♪ no one likes to feel stuck, boxed in, or held back. especially by something like your cloud. it's a problem. but the ibm cloud is different. it's the most open and secure public cloud for business. it can manage all your apps and data from anywhere. so it can help take on anything, from rebooking flights, on the fly to restocking shelves on demand. without getting in your way. ♪ ♪ when yowhat do you see?itical issues facing our world, we see a

. >>> hyatt, the hotel chain, pulling guidance for 2020. seema mody has the details. >> the company says the ability to assess the financial impact is becoming increasingly difficult. expedia scrapped its guidance two weeks ago. it comes as the u.s. travel association is forecasting the u.s. to see a 6% year over year drop over the next three months, it certainly doesn't bode well for the travel industry. vice president mike pence is set to meeting the cruise line ceos on saturday. wilf, certainly a vote of confidence for the struggling airline industry back to you. >> thanks very much. we are down 820 points or so on the dow with just over three minutes left mike, as always, give the internal. >> certainly negative, but not quite the washout levels obviously greater that had to 1, but we have seen days when it was 9 to 1 not that long ago so negative, but not unusual given the moves. he they were essential seen at very predictable that premium is coming out staples is holding up better because of its businesses right now. i want to look at

a number of companies talked about this in the last couple of days host hotels, united, jetblue, hyattof these companies are saying we're unsure about guidance now the market priced in a lot of that uncertainty the question is what is priced in the earnings situation. i want to show you, a few weeks ago i said analysts were taking down their numbers for the first quarter, and the second quarter, but they seemed to have stopped. we have estimates where first quarter earnings are up 1.7% for the s&p 500. this number is certainly wrong for whatever reason they have stopped taking the numbers down as aggressively as i think they should have. january 21st if you want a better indication, look to europe and what they're doing with their earnings estimates. europe is ahead of us. they are dealing with direct impacts in italy from coronavirus. january 21st, this sin industrial estimates 5.4, now down 24 i'm not saying this is the same thing that will happen in the u.s., but when they're a month and a half, two months ahead of us potentially in terms of the impact, that's what you want to look

. >> hilton and hyatt joining marriott in furloughing thousands of hotel employees across the industry. 4 million hotel jobs have been eliminated already or on the verge of being lost in the next four weeks as seattle, san francisco and boston have seen occupancy rates dip below 20%, some encouraging news cvs health says the furloughed workers from hilt and marriott will fill new job openings to work in distribution and delivery this level of coordination across different sectors we'll see if more work eers can fill those jobs as we continue to see the furloughs come in from the major hotel operators. >> absolutely a good sign. thank you. about two minutes, little over two minutes left of trade. mike, what are you seeing in the market internals today >> it's negative but not necessarily as extreme as we've seen some days. if you look at up versus down volume, it's close o 75% to the down. outperforming high yield debt and that's a reversal because recently, it's investment grade. that's a stressed area it's reseeding because the market isn't quite as sears as it was a couple of weeks a

marriott, hyatt and hilton which drew on its credit line. it comes as new data shows that coronavirus is having an impact on u.s. hotel occupancy, which fell 7% last week compared to the same period a year ago analysts forecasting it will contin drop as more events are canceled all into the cruise lines. carnival suspending all princess cruises for the next two months. accounts for about 20% of carnival's ebitda. a dramatic decline another 20% just today, which has put increased focused on the debt to equity ratios for these cruise line operators. norwegian, specifically, which had the debt to equity ratio of 200% and for royal and carnival, can they continue to sustain their dividend of around 6%. back to you. >> thank you for that and i wanted also to talk about casinos on this travel front and these have been the names we don't talk about that much here, but i'm talking about stocks like eldorado, now down 38%. see sahrs is down 20%. there is some question b about whether that happens, they said the financing is lined up. that they have t

hyatt hotels is pulling its financial guidance for this year because of coronavirus.l restrictions are hurting performance and making it hard to forecast the rest of the year. they say they have limited ability to assess the impact of the outbreak. haidi: the man who rebuilt general electric has died. jack welch turned the company into a global giant and influenced generations of business leaders with a cost-cutting style that earned him a nickname. he presided over a stock surge of almost 3000% over two decades although his legacy was tainted by questions over accounting methods. ,here is plenty more to come including a preview of what the rba will do. this is bloomberg. ♪ >> this is bloomberg markets: asia. the world's top finance chiefs will lead a global conference call tuesday to discuss response to the economic threat posed by coronavirus. we are told the call will happen at 1:00 paris time. growth mayys global sink to levels not seen since the financial crisis. central bankers are pledging to shore up economies and markets. a key gauge of u.s. manufacturing get

hyatt, hilton, marriott on the upside. i've got to see those cruise lines again. i can't imagine an industry that has been as badly hit as the cruise lines, talk about the bed pr problem. they are described as floating petri dishes and that is not a nice thing. ashley: how long does the perception go on even after the corona virus? stuart: is in the president talking about looking at that industry as deserving of health? >> taxi ferments for the travel industry. the airlines and cruise lines as well, they don't have a high penetration rate, only 20% have been on a cruise but the return rate is 70% but after this you imagine the return rates might not be as high because who wants to be quarantines. >> we 20% of the population has ever been on a cruise. stuart: i have. i have. once. maybe 20 odd years ago. >> royal caribbean war and it will not look great, hurricane dorian, what they set up coronavirus outbreak. stuart: a lot of drugs we buy, that we americans rely on are made in china. grady trimble in chicago, the virus affecting the drug supplies. >> the fbi says

major hotels are starting to close in major cities including orlando, florida, where the hyatt regency announced it would stop taking reservations until may 3rd. nursing home staff members who reported to work while sick contributed to the spread of covid-19 that long-term care facilities in the seattle area. according to a report from the centers for disease control and prevention. federal health officials say that the facilities lack adequate supplies, personal protective equipment, and sanitizers. staff members working at multiple nursing homes further spread the virus. >> ultimately we want to be able to share what has happened in our facility in a way that helps others prepare for this. i think that cdc report goes a long way down that road. >> another cdc report shows that although elderly patients are the most at risk for death and complications, nearly half of u.s. patients that were admitted to intensive care units were between the ages of 20 and 64, underscoring the need for all of us to protect ourselves from this virus. >> sandra: thank you. >> ed: meanwhile the white house

hyatt down. hilton down. marriott down. any kind of travel and leisure stocks really getting hurt.ino stocks fall within that group. casino stocks like caesar's, mgm, wynn, las vegas sands, el dorado resorts, all continuing to come down. mgm at $11 per share. okay. travel bookings. we will keep on going through this. booking holdings, $1248, down just a fraction there. expedia down to $59 a share. trip adviser, $17. come in, we will show you movie theaters right now. obviously taking it really on the chin. if you extend these social distancing rules out through the end of april, clearly the movie houses, the theaters, they are going to get really hurt. keith fitz, do you see any value in the travel and leisure stocks that we have gone through so far? would you touch any of them with a ten-foot pole? >> maybe a six-foot pole. i will tell you what, alaska airlines was a great-run airline before. i go out of my way to fly them. when travel resumes, that's the airline i'm going to. boeing i think will be back but they have rough sledding. the max situation hasn't gone away. they have d

hotels, hyatt, hilton, marriott, down. can't imagine hotels going up. >> hilton fell yesterday for concerns about credit. they have been drawing down loans as well. a lot of these, you can imagine are sectors that get relief probably the first sectors get relief from government on tax defense. stuart: doesn't this make the apples and no concern over the credit problem there, is it. >> sees a lot of free cash flow a lot of cash. you can expect acquisition coming out of this because valuations are very low. susan: what tim cook said to us. imagine, purchasing $100 billion worth of share. that is why the stock price gone up over the years, despite the fact with slowing iphone sales. if the prices come down like this, they have already said to the market we'll continue to buy shares, they might do it at these levels. stuart: news from capitol hill. edward lawrence has it about the virus on capitol hill. what do you have? part period of time first case on capitol hill, senator's office, senator cantwell's office. seattle has be

marriott is up a little, hyatt is up 6%. now the casino stocks. depressed shall we say, mgm at nine, caesars five. these are depressed levels. i'm not sure the status of vegas casinos. fire tech stocks backup for mor more, they're holding around $80 a share. they've got this report of a decent treatment of the virus but they're holding right around $80. share. moving on to the drugmakers all down this morning. pfizer, merck, eli lilly down, not huge but down. johnson & johnson down a bit. hospital stocks on the upside, they've not had a great run recently. health insurers, they're all up. what i'm gonna do is keep on going with those groups of stocks on the left-hand side of your screen, concentrate on the market which is not showing that much of again. jack are you expecting a little bit better than this i think everyone watching this right now is saying okay that's all well and good but did we end up 2000 points are down 2000 points because that's the way it's been going. i would be perfectly content with the boring day were nothing moves much.

hotels, hyatt is down a little. hilton is up a little. marriott down a point. susan, did you want to come in on this? susan: i want to come in on the market dynamics we saw on friday. there were some indicators that pointed to maybe selling exhaustion has already kicked in since we looked at the down volume, 63% on friday, compared to the 90% decliners we saw over the past eight trading sessions. there had been talk that maybe the selling is done. despite the fact you had the fed saying we will do whatever it takes, you still have these declines. i think there's still a lot of hesitation until we get some sort of stimulus package through the senate later today, hopefully, fingers crossed. stuart: yes indeed. walmart, $113 a share. last week i saw it at a high of $123. i don't know why walmart's come down a little bit. maybe it's the stalling of getting money into people's hands. the grocers, walmart down, kroger's 1.5%. bj's, costco, $290 a share. they have held up well. walmart's held up well although walmart was at that high last week, down ten bucks as of th

my i can't think down -- hyatt is down 10. hotels decimated. who is talking to me? susan: sorry, this is sue. listening to white house meeting with some of the ceos. hilton said occupancy rates are 10 to 15% worldwide. that is incredible. that is also very dangerous for a company like hilton that needs to fill those rooms in order to make money. stuart: that is another case, susan, of lots of costs, no revenue, equals massive loss. i think that is where we are. look at that. hotels, down 30% from marriott. good lord. let's bring in an economist, brian wesbury on the phone. these industries are clobbered, airlines, hotels, travel booking companies, do you see them coming back, brian? >> eventually they will come back as long as they survive and you know, i'm not as worried necessarily about the big companies because the federal reserve has done a massive amount of liquidity adding, they have released banks from some regulations and they allowed them to go in to the commercial paper market. it just depend how long it lasts. so the real damage, i think, to the economy,