live to jackie deangelis with more on that. reporter: good afternoon, to you, connell, that's right. that chief operating officer that you mentioned of the company pending investigation -- [inaudible] 80%. part of the allegation here is that possibly they have fabricated transactions and investors, the company is saying cannot rely on recent financials and guidance as well. so -- in this, really interesting. it is coming up at this time amid this kind of a crisis when so many people are pointing fingers at china and wonder if they're completely up front about all the data, for example, with covid-19. you have a company like this being accused of lying. it is a big issue. meantime i want to pivot to happier story, focus on good companies are doing for others in this crisis right now. and one example is the patriot -- [inaudible]. melissa: all right. connell: i think we're having a little trouble. >> we have gremlins in the system because everybody is using -- yeah, everyone is using internet at the same time, so it becomes diffi

jackie deangelis reporting, thanks so much.l, as the fight against the coronavirus pandemic marches on, there have been major new developments involving the deep state's efforts to overthrow president trump. there are new reports that christopher steele, the former mi-6 operative who admitted in a court hearing that parts of that dirty dossier he created, that fraudulent document, were based on a tip from an attorney at perkins coy who represents the dnc, did represent the hillary clinton campaign and many top-line democrats. steele used that tip from michael sussman to claim there was a secret communication between the 2016 trump campaign and a russian bank that had ties to russian president putin. there's also rising speculation that recently unearthed evidence will prove that lieutenant general michael flynn was set up, even framed by the corrupt fbi agents who withheld exculpatory material. and joining us tonight is general flynn's attorney, sidney powell. she's also a former federal prosecutor, author of the new book "conv

and financial correspondent jackie deangelis, i thank you, we asked our viewers were some questions,y have some good ones. ed, let me start with you, this comes from david, he says my son and i are partners in business, it's just the two of us, no employees. are we eligible for the paycheck protection plan, and i got a similar question from a woman named joanne. she is a bed-and-breakfast is so proprietor, and the ppp loans says i can apply to cover expenses, but it only asks for payroll numbers, and she doesn't have a payroll because she's the slope proprietor. any device for them? ad? >> the short answer, dana, would be yes. i am eligible, the payroll would be her, there has to be some salary that she pays herself or that those two brothers pay themselves. and that would be their employee cost. then this was then additionally cover rent, lease, mortgage if that's what they have. also utility of any business that they own. so, again, their salary firemen's would just be the two of them as a very small business, but their employees could be zero or 1. >> dana: all right, i know there

jackie deangelis is here with more on this. kie. >> good afternoon, dana, that's right, new trend in retail as we all stay hunkered down for safety from the coronavirus pandemic. retailers that are open are being asked by state and local governors as he said, to offer only those essential items in the stores and selling nonessential items online, over the phone, for delivery and curbside pickup. vermont, michigan, colorado, indiana, they are among the states that are making this call and it's impacting states like target, walmart, and costco. the objective is more effective social distancing. so, is, those that only need those essential items are coming into the retail outlets, then the assumption is, overall, you will have less web traffic, which would be a good thing right now. some of those essential items food, cleaning supplies, baby products, pet supplies. nonessential items, things like toys, electronics, sports equipment, jewelry. that's interesting, because even with rules like this, walmart had an all-time high today,

jackie deangelis went through the process. i cannot wait to hear about this. is like the thing you have to have, forget shoes. reporter: just a few weeks ago, including the antibody tests active covid tests they were not accessible the way they are now. that is so important in terms of reopening states, getting people back to work. when it comes to antibody tests the latest one is from quest diagnostics. what is clear, consumer initiated test. sign on line, give information, do a questionnaire. you do the blood work done. what is interesting there is tests where they actually draw blood from the arm or pinprick your finger. those were use the internationally. they were not that great. these blood tests are more effective. the quested test is $119. you get your results they say in one or two days which is a pretty quick turnaround. new york city will be crucial when it comes to the antibody testing. remember governor cuomo did this random teslas week and he said it is possible one in five new yorkers had coronavirus even those people that didn't necessarily kno

jackie deangelis. let's get the read from the former human services secretary under president trump he joins us right now, secretary good to have you. >> thank you. neil: we don't know much about this particular drug from gilead but we do know that others are working on similar remedies, i could go on and on. what do you make of what you're hearing right now, sometimes to get to fruition and past clinical trials it could be many months up to a year, no way of knowing but what do you think? >> well this is fascinating because what we're watching right now is the research and development of new drug or drugs playing out in public, which the public never sees. this isn't an exact science. it goes in fits and starts and i think it will give folks an opportunity to gain a much greater appreciation of the challenges that exist but it's going to be a long process. there will be a lot of setbacks and folks need to be prepared for that. it's important not to get frustrated and that patients in cooperation in al

jackie deangelis, jackie. reporter: good afternoon to you, neil. let's go ahead to start with the tweet from the president that had the dow jones up more than 300 points now. the president said, i spoke to my friend, mbs, crown prince of saudi arabia who spoke with president putin of russia and i expect and hope they will be cutting back approximately 10 million barrels and maybe substantially more, which if it happens will be great for the oil and gas industry. the markets are rallying on this, because low oil prices are good for consumers and businesses that use oil. statement, you don't want the price to be so low that the shale producers go out of business. that the oil producers have a hard time, staying, conducting, keeping things going. so prices spiking today, more than 20% is a positive sign that it is all moving in the right direction. of course there are some reports locally in russian newspapers saying that putin said he never had this conversation. so it is really anybody's guess at this point about how this is going to shake out. reme

jackie deangelis with more. jackie: good afternoon.certainly is all the trend right now, because people just cannot congregate in the ways th that they used to before the coronavirus pandemic broke out. these musicians are still performing, basically saying we are in our living room and you are in your living room and we will still continue to bring you this kind of music. one example of an upcoming event people might be interested in is global citizen and the world health organization. they just announced one world together at home. it's sort of like live aid and its goal is to celebrate all the health care workers who have been so responsive and so brave throughout this pandemic. the proceeds are going to go to the u.n. foundation's covid-19 response fund and you can look for it on saturday, april 18th. it's an a-list lineup curated by lady gaga. paul mccartney, stevie wonder, lizzo and there will be special star appearances as well. it sort of gives you a sense of what's happening. there have been so many of these together at home t

jackie deangelis on these fast moving developments. jackie. reporter: that's right. bernie sanders saying his movement is not ending. as a matter of fact his party is winning this idealogical battle but as you said the path is just not there for the nomination. he did say that it was a difficult and feignful decision to come to terms with this, but they made the honest assessment that victory was not going to be feasible and it is interesting but he commented on a lot of issues particularly donald trump. he said the democratic party still needs to work on this. that trump is the most dangerous president in modern american history. as he mentioned he ceded the nomination to joe biden. this certainly does open up the path for biden to move forward. there are still so many questions around the convention, the coronavirus, how this is all going to go down. one thing i really noted was the commentary that sanders made on health care, particularly in the light of the crisis that we're facing right now. and also touting the fact that as a movement, he has taken on wall stre

the latest from jackie deangelis. jackie. reporter: we're waiting for governor murphy about the reopening plan, you mentioned new york, governor cuomo, the slow phased plan, trying to ease into it to make sure we don't see a spike in cases but for new jersey, he said there is a chance, governor murphy, that schools could be reopen before the end of the academic year. that is pretty aggressive by a lot of different accounts. no details given but he is talking about physical learning, for example, in classrooms, not virtual schooling. he did acknowledge classrooms will have to look different. new norms what is acceptable, social distancing, probably no assemblies or gatherers. one of the questions if new jersey schools would demand children wear facemasks inside? that is something they're talking about. all decisions very fluid and all in the conversation stage before any kind of official announcement is made but new jersey has done this, starting today, five city parks are going to reopen. that would be first step to kind of g

jackie deangelis following all of that. hey, jackie. jackie: good afternoon, neil. that's right. trend that's spreading across the country. 14 states right now setting up these emergency field hospitals. now, this one behind me is a partnership between mt. sinai here on the upper east side on fifth avenue and samaritan's purse. there are 14 tents here and 68 beds. doesn't really sound like a lot when you think about it. one woman here, a representative told me as of yesterday afternoon, there were 13 covid-19 patients being treated here in these tents behind me. that number probably rising today and will continue to rise. the javits center that you mentioned, another location in new york city that is doing this and has been outfitted to take some of the overflow, supposed to be for the patients who didn't have covid-19, but andrew cuomo spoke to president trump and they decided those 2500 beds should be used for those who are suffering from this virus. so that's something that's happening here. as i mentioned, a wave of this is happening across the country. we have some pictures

jackie deangelis on that. jackie: good afternoon, that's right.program was meant for employees, employers to keep their employees on the payroll, to pay their expenses, to keep the businesses going while we slow down and then restart the economy, but you've got some small businesses up at arms, saying why aren't my loans being approved when some of these larger companies where it's legal but not intended perhaps, are getting their loans approved. take high end restaurant chain ruth's chris. it's received $20 million. but the company filed for loans by having two subsidiaries and applying under each of them. then you have potbelly sandwich shops also securing $10 million just after one of its executives received a $100,000 bonus. people angry about that. taco cubana got the loans, too. what are the rules? the eligibility for the ppp loan depends on the business employing less than 500 people per physical location. say a chain has, for example, 20 locations, less than 500 people, can you apply 20 times for the $10 million loan? no, of course not. bu

jackie deangelis has been looking at all of that. hey, jackie. jackie: good afternoon, neil.ally something that we saw yesterday and as you said, good riddance to the may contract, i think a lot of people feel that way. this is really about demand for oil and it's really about the fact that it slipped drastically as a result of the coronavirus pandemic because people and businesses globally are not using it. but in the past when this would happen, when prices would drop so low, oil would be scooped up and it would be stored. it would be sold later. a lot of times for a profit. the reason it's different this time is because the length of the global inactivity and the storage centers that we're seeing are pretty much at capacity. floating storage has even become an option here. giant supertankers holding millions of barrels of oil, moving them around the world. you can i donuse ships as tempo storage centers. i like to put it like this. when you are trying to land an airplane, sometimes there's no space to land, the airplane will circle a little to buy some time. that's what's

jackie deangelis.ld you a little bit earlier about this tri-state pow-wow coordination in the new york metropolitan area involving the governors of new york, new jersey and connecticut. what might be ancillary to that, but not ancillary to some of the players directly involved what is happening to their local economies, particularly housing. there is a report that new jersey home sales could fall up to 45% in this environment and that home prices there, this is in the garden state could be headed to up to 12 to 15% hit. owners might need to discount up to 20% to move their houses. now i hasten to add there were similar predictions right after financial meltdown a couple of decades ago, or one decade ago where there was one concern it would last. it did indeed get very bad not quite up to that magnitude. although up to the higher end. some of those customers would tell you otherwise. who better to bounce off this right now, barbara corcoran, real estate gospel genius. barbara what do you make of that? t

jackie deangelis on all of this. s jackie sort of laid out here there are a lot of promising things going on but when it comes to a vaccine its arrival could be year or more today. dr. devi joins us from the nyu school of medicine. doctor, always great having you on. if you could help us with these various treatments, vaccines, potential cures that is what people leap on, in the best-case scenario they would be still aways off before people could use them, right? >> well it seems like it. some of the treatments are already underway in terms of these trials. so for example, hydroxychlorquine, even though there have been mixed results it is already in large trials. so we may see results from that sooner. there are some other drugs like remdesivir which has shown promising results. these are all good things. the vaccine may take longer. it is a little bit different. you have to make sure it is safe when you're administering it and see how well it works as people get exposed to the virus again. those things may take some

jackie deangelis live in new york with more on zoom. jackie? reporter: connell this stock has been dropping because what is called zoom bombing, it sounds funny but it actually isn't. it is a major security problem where hackers are getting into zoom conferences in some cases posting profanity and pornography as people are trying to conduct voter all meetings in a crisis. the zoom ceo admitted how bad it is, he said i really messed up. he issued a letter to users how they made security features made to the business and higher end-users available to all. things like using passwords. zoom's usership skyrocketed to 200 million because of the coronavirus pandemic. everything is happening, conferences, class learning, and people hang out and talk during social distancing. with respect to this aspect the new york city school superintendent sent out a letter last week banning use of zoom for classes and other school activities asap. it will be hard for the company to restore its reputation but trying hard. zoom is offloading $38 million in stock as th

let's go to jackie deangelis for today's fox business brief. >> good afternoon and happy friday, beatene casino stocks are rallying as gaming analyst don capri thinks casinos might be able to reopen at the white house phase one guidelines are met. these guidelines could include reduced gaming capacity, greater spacing between slot machines, and live gaming tables and masks for dealers, meantime oil prices plunging 12% as low as $17.39 which is the lowest price we've seen since november 2001. this is the china reported the worst quarterly economic contraction on record adding to more downward pressure on demand. and netflix snapping a four-day win streak after drawing in a new bear, benchmark initiating at a sale with a price target of $327 which implies a 25% downside from where the prices now, the benchmark streaming services nearly 50% rallies from their low expected. coming up, is it time to reopen the economy, liz talks to the doctor overseeing pit to make efforts that all 11 new city run hospitals about what she is seen on the front line and whether now is the right time to get bac

we will talk about that and will talk about the markets with box business team set up jackie deangelis following the action in the new york newsroom and blake burman coming out of the white house and hillary bonnie washington but with this rally, jackie for the second consecutive week. >> is a great day, friday for the market, we have experienced so much volatility but we've seen gains as a matter of fact for the last two weeks in a row, you have the dow finishing just the session highs waiting to see where it settles out but the gain for the day just under 700 points, it looks like and this has been on optimism about a number of things that perhaps we're getting to the right side of the curve when it comes to the coronavirus and the economy might start backup and you have stocks that have helped move the market along today, let's start with boeing because that was the one that has been absolutely crushed even before the coronavirus, boeing getting a breath of life after announcing it is going to be open, some production plans in washington state starting next week and it will give pro

jackie deangelis, thank you very much.ant to go to gee auno caldwell well, there will be a lot of enraged californians. apparently the beaches were open, there was large crowds, governor said i'm closing them back up again. how is that going down? >> a lot of people as you call it, neil, outraged this is one of those cases where attorney general barr said, the attorney general's office will be on the lookout for governments that are too restrictive. i think this is a clear-cut of example of it for a number of reasons. one, out of all the people came to the beaches over the course many noted there was distancing. if you're at a beach generally you're not necessarily sitting next to someone very closely, generally speaking. not to mention, we're talking about, neil, four million california filed for unemployment since march 12th. a lot of people are in the house right now. domestic violence calls to the police have gone you will. suicide calls have gone up. there is a lot of people with pent-up frustration. this past weekend

jackie deangelis is in our new york newsroom with more. jackie? >> good afternoon to you, charles.s we continue to wait out the coronavirus pandemic, we've been talking about food supply chains in general, but also in the meat-packing industry, we're starting to see some problems. there's been an up tick of coronavirus among meat-packing employees causing some of these closures. we talked about big producers like tyson and smithfield. the problem is it's really difficult to practice social distancing in these plants. the workers have to stand near each other to get their jobs done. and what we know right now is that at least 13 meat processing plants have been shut down across eight states in the united states. little more detail on this, as of yesterday, there were more than 3400 reported positive cases, tied to meat packing facilities across 62 plants in 23 states, a broader net there. sadly at least 17 reported worker deaths have been reported to us, and this is according to the midwest center for investigative reporting. now, there are inspectors as well. at least 100 of the 65

charles: i want to go to jackie deangelis for the latest on this crude oil collapse. jackie., charles, i never thought i would see the day where oil prices, you are trading negative. you're basically saying a barrel of oil for delivery today is worthless. that is what the market is saying at this point. there is a couple things to note here. yes, this is a historic watershed moment but at the same time the contract that we're looking at is the current contract. and that is going to expire. if you look at the june contract, i think it is trading around 22. so you can see the months going out, the market seems to think that oil will be worth more because this crisis will be further contained. as your previous guest said, people will start going back to work. that demand picture will come back. what i'm a little concerned about is how quickly the market thinks that can happen because, as he mentioned there are numerous shutdowns that will extend through may. even if people start going back to work doing essential job functions, et cetera, they may not want to do the other things

we will go to jackie deangelis, connell mcshane, i apologize for that confusion.n i blame it on you? andrew is right here with me. guys, thank you all. sorry for that. connell, you know me long enough to know i'm certainly not going to take the blame myself. so let me get your take on what the congressman was saying here that the president has been an effective communicator on this, even early on against china, our reliance not only on a lot of trade products from them but a lot of these pharmaceutical items and drugs and all, and that is something that will resonate long after this. do you agree with that? >> yes. essentially, yes, that we need to do something and this has been talked about in recent weeks in some of the briefings about supply chain reliance on china for a whole host of different items and this has been one of many wake-up calls, the largest by far, people obviously during the trade talks started to think about that as well. the other thing i think congressman gallagher hit on which is really interesting is he started talking there a few minutes

jackie deangelis has more what those states and my municipalits could look at here, jackie.orter: i don't think she would go for that. everyone in the united states is looking to get back to business. different states are having different conversations about. this is right time? do we do it slowly? restrictions are being eased some places. even hard-hit areas. east coast, for example, new york joins connecticut and new jersey opening up marinas, boat yards, boat launches for recreational use, stressing importance of social distancing out in public in these places. new york also updated guidance for golf courses. public and private courses can be open, no carts, caddies, walking only. controversial decision in florida, the governor giving municipalities green light to get beaches open. restricted hours for walking, biking, hiking, swimming, taking care of pets. we'll see if people abide by the rules. that will be a big part. in texas, stores operate through retail to go. that will be this friday. you can make deliveries to the customer cars. you can take it to homes and other

jackie deangelis has more. reporter: good afternoon to you, charles.test, testing, testing that is how we get the economy back on track and people get it work and find some semblance of normal life after this and labcorp is the first one to adevelop a coronavirus test approved by fda. health care workers, first-responders, doctors orders in order to get one ever these but in time the hope is everyone will have some access to them and that people can see whether or not they have the virus, if they have it, and that will help keep it under control. a few different tests here. active virus or of the antibodies and what happens is, you swab your nose at home, put it in a bag, send it via fedex. the results come back anywhere one to three days after they get to the lab. the cost on the website, it is pretty expensive, $119 per kit. now you have to fill out a survey, show certain symptoms, that kind of thing, screening to get a kit. while results from serological tests are neither the sole basis for diagnosis or assurance of immunity we believe the test will

jackie thank you jackie deangelis latest on remdesivir moving markets, now reopening the economy, floridag on monday restaurants seniors to will be allowed to open 25% capacity the oil wills excluded miami-dade broward and palm beach counties for now. it does represent a bigger trend as states like georgia texas have also begun to reopen, joining us right now to talk more about that former hewlett-packard ceo former republican presidential candidate carly fiorina great to see you hope you are doing well thanks for joining us. >> well thank you so much for having me maria great to be with you yes, i am safe and well. an important thing, but these are indeed strange sad times honestly. >> what do you think what do you think about reopening the economy which right now how should it be done? >> well, first of all, i think these are very difficult choices for governors, so let's -- give them all some slack i think they are very difficult calls. what i am surprised by honestly is so many states are moving to reopen before they have met the criteria that the trump administration laid out which w

maria: what about crude oil, jackie deangelis because u.s.tockpile rose less than expected from petroleum institute but the selloff is indicating real demand slowdown or halt and what does that tell you about where we are going in terms of the economy and the storage for oil? jackie: it really troubles me to be honest. it was a real shock to the market and wait a second here, there could be trouble in the horizon, things will get better, the prices are higher, that's assuming that there will be a rebound, maria, we don't necessarily know exactly how it's going to play out in terms of a timeline and you look at crowd trading at 14 bucks and as you see as contracts roll, but the front month keeps getting slowed down, that's the one with the most open interest and i'm worried about that and i'm worried about the fact that people point to the financial crisis too and they'll say markets went up and they fell again and we saw lower. i'm worried that that could happen potentially here and that maybe investors are looking at the markets and they are

jackie deangelis in our news room.'s optimism, up 1 and a quarter percent and the contract rally yesterday, a lot going on in oil. world's largest oil producers are having the virtual meeting today, 10:00 a.m. eastern time and investors hoping there's deal to cut production, maybe 8 or 10 million-barrels a day between, this would be really between the saudis and the russians and that would end cost war that's been hurting. u.s. energy companies especially shell producers because a lot of people don't realize, steve, that we still import amount of foreign oil because we can't, refineries can't process all forms of domestic shell? stephen: that's right, i wrote a whole book. amazing thing is, cheryl, that the 2008, 2009 recession, remember that one? before we had this one. we lifted out of that recession because of the shell oil and gas boom, it totally resurrected the companies, those companies are almost victim of their own success because they created such a boom in oil production first in the u.s. and in other countr

let's go to fox business networks, jackie deangelis. kie. >> testing will definitely be key in this process. if you feel sick you can get this test immediately and you will know if you need to self isolate or get more attentive care. let's talk numbers for a second here. a new state-by-state analysis by harvard researchers and stats show that right now 31 states and washington, d.c., didn't testing of last week to isolate those infected a quickly enough. if there are ten that could reopen and in new york it will take 100,000 tests per day and in new jersey, 68,000 more. there are three quick tests currently approved by the fda and there are they are all done by swabbing the nasal cavity. abbott said that its manufacturing 50,000 tests per day and plan to increase the production to 50 million in june. the audit i.d. now tests can offer results in 15 minutes. then there's mesa biotec. the rapid response time allows physicians to dictate treatments pretty much on the spot. then, there is a results in less than an hour. one of the issues bei

jackie deangelis with more on that, and the job losses that are mounting pretty much everywhere in this country. jackie? reporter: good morning to you, neil that's right. the economy shed 701,000 jobs in march bringing the unemployment rate up to 4.4% from 3.5% in february. now, this number broke the 113 weeks of straight job creation that we've seen, that had that unemployment rate at a 50 year low and now as you said the estimates were higher, some were lower and they pretty much were all across the map but here is what we know. in the last two weeks the weekly claim showed nearly 10 million americans filed for unemployment benefits and that may not have been reflected in this number, so the april number, when it comes out, could potentially be a lot worse. now, here in times square, the heart of new york city, you can hear a pin drop. nothing is open. when you remember that the consumer is about two-thirds of u.s. economic activity, you need people out and about spending money to keep this economy going. with people out out of work, they're not spending and you wonder how long this i

connell mcshane is with me, jackie deangelis is with me, jonathan hoenig. with you. one of the things howie said, you hear this from a lot of even market types. whatever happens after this whole thing goes away which is hopefully soon, it will produce a new normal for us. it won't be back to business as usual but it will be a different world. whether that means we are not shaking hands, i know howie has said that and dr. fauci has said that, but it will be a different world. i'm wondering if we are prepared for that. >> undoubtedly life will change at fleefleast for a period of t. it reminds me not long after the tragedy of 9/11, a tremendous shock to the country, tremendous shock to the economy, and very clearly i remember a lot of developers saying people will never build tall skyscrapers again. you will never see it again. of course, over the course of just a couple of years, you started to see especially in new york and around the country, tall skyscrapers get built once again. i have no doubt this country, despite what we are dealing with now, because

jackie deangelis has been looking into that and a lot more. jackie? jackie: good afternoon.hat's right. this is a conversation that you and i had yesterday, specifically. you go back to work and for some reason get sick and get the coronavirus, can you sue your employer, perhaps saying they were negligent, they didn't offer the right safety equipment, for example. the president has addressed this. he just addressed it moments ago and he said he's going to be signing an executive order later in the day that is going to address this employer liability issue because obviously, the objective is to get people back to work and a lot of companies are really scared that if they take this on and they start to reopen, liability is going to bite them in the you-know-where, neil. the second headline i want to draw your attention to coming out of this conversation that we just played, you talked about different stimulus programs, et cetera, working with some of the industries in general to make them more whole as we get things back on track. the president also mentioned the idea of worki

jackie deangelis following all of this right you no. hey, jackie. reporter: good afternoon to you, neil, that's right. because there was a little dip last week, i think there is optimism in the market. 4.4 million people filing for jobless benefits in the weekended april 1th. that was last friday. march 15th, to about today, as you said 26 million americans lost jobs because of the coronavirus pandemic. ubs is saying when this is all said and done, that figure will be closer to 50 million people. now it raises fresh questions about when to open the economy, when to get people back to work. many unknowns still as the states are trying to manage their individual situations. the first friday in may we'll get another monthly jobs report. unemployment rate went up to 4.4%. that was up from the 50-year low. high does the unemployment rate go? the may report reflect actual april numbers the worst of it or will this continue through may and sort of prolong the pain for unemployed americans? want to switch gears for a second and talk about another data point

jackie deangelis has all of that and a very, very apologetic ceo.ter: this stock has been a darling during the coronavirus pandemic but today a sharp drop and all because of what is being called zoom bombing, it sounds funny but really not. it is a major security problem where hackers are getting into zoom conferences. in some cases they're posting profanity and pornography up there trying to conduct meetings. the ceo said, i really did mess up. it sent out a letter explaining to users how it is making security features to all the company's high-end business and users for all. password pretext shun, sounds very simple, right? zoom's usership skyrocketed t was 10 million at end of last year. 200 million. now as a result of this pandemic and everything is happening on there from work conferences to mobile learning, exercise class, zoom parties where people hang out as they're practicing social distancing but with respect to the school learning, the new york city school superintendent sent out a letter banning use of zoom because of privacy issues and

jackie deangelis on that and much more in the stock arena. reporter: good afternoon to you, neil, that's right. with respect to the gilead news, this covid-19 therapy, you may have heard of it because there has been a little bit of a back and forth around it. the drug is called remdesivir. it met a government-run preliminary trial primary end point. that affirmed optimism in the market today. as we mentioned you had negative news. you have companies missing on earnings. then you've got gdp. the economy contracted 4.8% in the first quarter. that is the first read on this yet you're seeing the stock market rise 567 points on the dow. oil is one reason. but the gilead news definitely having a lot to do with it. this is about getting back to business, that could stem the losses to gdp in the second quarter. it is interesting, first reports released from stat, that the drug was having positive effects that then it could be a game changer. then reports were leaked, it wasn't doing well with trials. actually the world health organization revealed da

jackie deangelis is here to spell it all out. jackie. reporter: market is trading higher. connell laid it out beautifully in terms of optimism surrounding the trajectory of the curve right now. whether that can be maintained certainly an issue. for today the dow is trading up 500 points. that is interesting, because today is the day earnings season kicked off. jpmorgan is the first to report to get us going here, you can say the bad news the market was expecting was priced in here. jpmorgan earnings was a bad miss. 78 cents. the street was expecting $1.84. the issue that investors are worried about, the fact there is a $6.8 billion addition to bank reserves indicating that jpmorgan thinks defaults are coming as a result of the coronavirus. so that is really important to watch. there were a couple of bright spots, interesting in this report. the trading division saw 32% increase in revenue because of all the volatility we're seeing. bond revenue came in a billion higher than expected. wells fargo reported earnings were one cent. street was expecting 33 cents. the bank setti

for the third straight day, already recovered about 50% in the last couple of trading days, jackie deangelisaying and who he is talking about. >> good afternoon, some headlines i want to bring to you, trump saying that russia and just one comment on that. even if the saudis and russia together cut the 15 to 20 million barrels a day, that's almost half their production. i'm not necessarily sure how they could possibly do more than that but the president is saying they could make further production cuts. meantime, trump is floating the idea that the u.s. government could buy fuel for the united states in advance. one issue that i would comment on there is the fact that one of the problems that pushed oil prices down was it was difficult to find storage. so having said that, it's something to watch for. the treasury secretary also saying that it could be soon that the trump administration is looking at u.s. government possibly taking stakes in energy companies as one option. remember, we saw that price of oil come down, we were so worried about some of the smaller players in the industry possib

jackie deangelis is at one of these field hospitals in, of all places, central park, new york city. e more. jackie: good morning, stuart. that's right. these field hospitals are popping up across the country. here in new york city, you have a partnership between mt. sinai and samaritan's purse. the hospital behind me has 68 beds, it's 48 tents and the woman i spoke to said as of yesterday afternoon, they were treating 13 patients inside. that number could be higher as of this morning and of course, it's expected to increase. what she also said to me is as difficult as this has been on everybody, remember, this is just the pregame. we have not even hit the main event, where a hospital like this is going to be completely crowded or full yet with patients that are suffering from the virus, from covid-19. now, across the way on the west side behind me, even further west that way, you've got the javits center. that is also going to take covid-19 patients. this is after governor cuomo had a conversation with the president saying look, we were going to use this for overflow of patients who