we saw some nice boosts from proctor and gamble costco, more on those later. next up, china is making a comeback, and you know what? ali baba, it's a must buy. chinese amazon doing incredibly well here. and the stock refuses to quit. china is open for business but people are still wary, so they're going to ali baba. i hope they stop going to wet markets. it's the only chinese stock i'm recommending there are a bunch of other names, too i like chewy, the pet food online same thing with peloton, although my wife still has the clothes still hanging on it. she moved out to the hamptons a long time ago. and the cybersecurity companies have become a lot more company in a world where people are working from the less secure computers at home as we know from the zoom bombing. here's three i like. acta, z-scale, a favorite of heather gaines, who is in the control room tonight, and crowd strike maybe i'll put an acronym together maybe go to @ jim cramer on twitter and make up not an akry anymore like f.a.n.g. and everybody stole, but i promise to have it by monday becaus

kate proctor, we are surviving the asteroid, back to politics. the prime ministerfor the first time in a man is at work, out of isolation, out of hospital. we have seen a picture of the back of his head going into downing street. we are expecting to see the prime minister tomorrow. i am sure number ten will be keen to put out a video clip to show he is well. i am sure he will be giving a message as well over the video, something number ten have been keen to do. he has been extremely poorly, but it has been extremely poorly, but it has been extremely poorly, but it has been trail is quite well over the weekend that he is fighting fit and wants to get back to the job. hopefully we will see it is all going to be about how to ease the lockdown and resolving some of that tension we have heard about in the cabinet. what will boris johnson's first decision be on returning tomorrow? as kate said, boris johnson will be tempted to make sure his presence is felt from day one, maybe with a video output on social media, perhaps even hosting one of the press c

clorox reports, proctor 23 times earnings those have much higher dividends, much longer track recordlds supports 1.9% bottom line given the low valuation versus other competitors, i think reynolds is attractive here. the company reports first quarter out of the gate next week what do you do i like this. i recommend putting on half your position here, and then wait and buy more if it pulls back below $30 after the earnings >>> let's go to daniel in new york daniel >> caller: hello, mr. cramer, daniel from brooklyn, new york my neighbor. i'm in a packaging company reporting in may fundamentals are crucial now in any investment decision. what do you think of amcor >> i love consistent companies things for food, things for beverage it's a really good company i'm glad you mentioned that to me i should be doing a piece about it in this environment amcor is right. >>> let's go to adam in new york adam >> caller: hey, jim, adam from new york i own aficionado coffee makers in a hotel space i see expansion for them in the grocery and health care -- >> not enough, not enough. i don't want anyth

the court ordered the state bar to make an effort to administer the exam online with a remote proctoring. >>> a stern warning from the governor. the virus does not take the weekend off. this after crowds gathered in the warm weather at the beaches. here's more on that story from devin fehely. >> reporter: the governor said that by following the shelter- in-place orders and making a collective sacrifice that california residents have be back the tide of the virus. he warned that crowding into beaches and parks could quickly undo that progress and set in motion a second wave of cases. it seems like these at beaches of across california that governor newsom said threatened a resurgence of the virus. but the virus does not take the weekends off, it does not go home because it's a beautiful day. >> reporter: there's growing evidence that the stay-at-home order is a slipping. traffic measured by caltrans said that traffic jumped 16%. >> you want to respect the people at risk. at the same time a lot of people walk around you see so many people out. a lot of people are having a tough time. >> re

two dow components moving higher boeing that is restarting some production in washington state and proctor and gamble reporting strong sales growth. i'll hit that later in the hour. >> yes, indeed, hooking forward to that. market's up 1.5% 59 minutes left of course. lots of big guests coming up including we will discuss the broad market rally with bank of america and blackrock and chamber of commerce ceo, tom donohue will discuss the call for congress to provide more emergency funding to small businesses bob pisani is tracking today's rally. adam from staten news is with us to talk about the market moving report he cowrote on gilead's drug bob, let's kick things off with you. >> well, we are up today and have been all day, but we're at essentially just off the lows for the day. so the market's kind of running out of steam here. the good news here is is all the beaten up sectors are rallying today on the somewhat hopeful news on coronavirus treatments, so the russell 2000 offawful a week, outperformers. banks. energy, even with oil down today, energy's outperforming. the dow leadership grou

ought to be asking themselves this question, which is while we have these winners like amazon and proctor and gamble and we have other stocks that have held up very well like home depot, the question that you might ask yourself is, we obviously have a very bad economic situation. it's obviously hurting businesses very badly and it's going to continue to those are not the only companies in the market and how much higher can they go if the best performing stocks have already given us what they're going to do and the bad news is going to continue to trickle in, then to me the risk is necessarily on the downside as people begin to digest that we're just at the beginning of that now we're coming into earnings season this is probably the most important earnings season and the least relevant earnings season because you're looking back rather than forward everybody is going to be on every conference call, saying how much risk is there we don't still know exactly how much there is. for some cases you might have 4-6 weeks worth of complete run away and it's not a big thing. if you extend that, thos

with me are kate proctor, political correspondent for the guardian, and asa bennett who is brexit commissioningtor at the telegraph. tomorrow's front pages. we start with the metro. it leads, like many of our papers, with a picture of the prime minister back at downing street. the headline, boris becker number10. street. the headline, boris becker number 10. the daily express has that story reporting the boris johnson returns to work to be leading the country out of lockdown while vowing to prevent a second wave of cases. the telegraphs as the prime minister may ease the lockdown as early as this week. the situation in europe is the focus of the financial times with italy spain and france looking to ease their own restrictions. the front page of the times shows a picture of a loan runner in london where the london marathon should have finished today, if it had gone head. the paper also has a story about an asteroid making its way towards earth. scientist say its way towards earth. scientist say it will miss us byjust under 4 million miles. a narrow escape. let us million miles. a narrow escape.

if we are forced to test at home, big advances over the last four years in remote proctoring technologywhich is the ability to use the video capabilities in computers to allow proctors to observe students as they take exams at home. >> that's interesting. you're optimistic that schools will be open, colleges will be open in the fall? >> i'm relatively optimistic. i do a job where i have to be ready for all contingencies, so we're ready if schools open gradually to provide the s.a.t., but we're providing the a.p. exam to students at home in may, and just got today, the students on the courses. so we've got to be ready for everything. kids worked all year for advanced placement and make sure we're there to take the credit they've earned. >> so if some schools which are making the s.a.t. optional, so they would what, pay more attention to school grades, extracurriculars, things like that? >> that's exactly right. if school is optional, you can still submit the exam and it will confirm your grades are strong and may provide other reason for you to be let in. so some schools require, some sc

robert proctor at stanford about the deception of the industry. any trepidation when you started? you had three giant box out there, and you took a risk. >> guest: yes, but but i really feel as though with those three books, ashes to ashes, cigarette century and robert proctor whole corpus of work, the biggest of which is called golden holocaust, i i really feel as though i was standing on the shoulders of giants. these are fantastic works and my work is tremendously indebted to them, but when i was thinking about writing about tobacco, i wasn't approaching the same way that they were. they were very much coming at the story of tobacco from the angle of industry and when i begin this project in a much more humble state, just as a lowly graduate student i really begin it from think that agriculture and farmers which it's probably not surprising to say there are not three humongous tones about tobacco agriculture. i saw these big works as a reason for my little opening wedge into the field to write about it in a different way and then of course the book and the project changed quite

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proctor vitti heard explosions. there was a fire at 9:00 last night that burn for an hour. firefighters had to bring in water trucks from the outside to help fight this. this is on holman valley road. investigators will arrive there to try to figure out how it started. >>> we are learning, two appointment only covid-19 testing sites in san francisco remain largely empty. they are called san francisco city test sf come along pierce 30 and 32, and another south of market on seventh street. both have expanded criteria for testing but relatively few tests are being carried out. it's a concern as city leaders have said numerous times large- scale testing is the key to reopening that economy. >>> the facilities have the capability of testing 1500 people a day but according to city records, only 2000 people have been tested in total since opening. in a video, the board of supervisors said the whole san francisco city has the capacity to test 5800 people per day, including at hospitals and other medical sites, but only 500 are being tested per day. >> if we can do over 5000 tests a

if you are defensive or considered defensive, more defensive than proctor, apple sells off 30%. now having rebounded 35%, but you're not back to the high of course. that's the nature of percentage draw down and ricochets. final chart, this is a two-panel chart, and this reallies to tell the tale what we see is apple on top, but its relative performance to the nasdaq 100 continues to stall. and by my work, that is its problem, and i think one is right to be skeptical going into the earnings print this coming week >> all right, carter, so we go to mike. what's your trade out of this? >> yeah, so it's interesting as far as i'm concerned apple, this obviously is a company with a fortress balance sheet, and a lot of technology companies s companies some would say are well-positioned during what is a weak environment it is a hardware company and used to trading at a hardware company multiple which means it traded at a discount relative to the market right now it's trading over it 20 times, and i have a hard time believing not only that they would meet their guidance, which i don't thi

or an apple >> i think it's an apple and i get why procter & gamble and particularly covid-19 post proctor is one where we understand the eat at home dynamic, but jeff talked about the defensive nature of these stocks that that's where money goes and apple, i realize that apple brought the goldman upgrade and what's the multiple. >> either way, relative to itself the multiples aren't great. facek boo, google, i would argue apple and some would argue microsoft less so are all valuations you don't have a difficult time buying in the balance sheets in this environment where toy moo it's almost more about credit and i think those are the defensive stocks and i think they will remain defensive and, look, the nasdaq's been above the 200 day for two weeks now. the vix is now sub-35 and is that good or bad these guys are saying you sell that and i think we would have a case where markets have come down a bit and if anything, this is the marginal dollar and it may not be good news overall because of the lack of breadth and carter brings us up and those are the defensive stocks >>. >> i'll give you

you saw proctor and gamble with revenue increases in the quarter, earnings increases in the quarter,sing their dividend. johnson & johnson did the same thing a few days ago. so the banks are probably ground zero for the uncertainty. they have to kind of extend credit to an economy that right now has no demand for credit. so you expect banks to be more constricted in the immediate weeks and months following this contraction as things open up. that will definitely change for the banks down the line. maria: so where are the opportunities in terms of investing today, if there are any? i mean, in the past you've talked about dividend payers. do you want to stick to your strategy that you've been on before, or are there new ways to invest in new normal? >> well, there's new ways to invest within the same philosophy, at least at my company. we believe in dividend growth companies through bad markets and good markets. the difference is right now those dividends have all gotten much better. you have companies like verizon and merck and coca-cola that are paying higher yields than they were a

was cheered by those sailors as he left the ship for his final time is from santa rosa his comment proctor sailors to yell back and frustration, the acting navy secretary that is defense secretary mark esper ordered mostly to apologize which he has under secretary of army. james macpherson will now replace mostly as navy secretary president trump by the way has removed the pentagon's top watchdog who was set to oversee the $2 trillion emergency coronavirus funding. glenn fine who has served as acting pentagon inspector general since 2016 was just tapped to lead the committee last week. president trump's office made the announcement tuesday saying he'll go back to being principal deputy inspector general. the defense department spokesperson wouldn't explain why find was removed from his position and it's unclear who will be tasked with overseeing the doling out of all that emergency coronavirus funding. the coronavirus lockdown in wuhan has been lifted. the city was china's epicenter for covid-19 and live within wuhan has already been slowly returning to at least some degree of normalcy pub

if you are defensive or considered defensive, is it more defensive than proctor that's the exact same sell-off offering no defensive qualities and now having rebounded 35%, but you're not back to the high, of course, and that's the nature of percentage, drawdown and ricochets. the final chart. this is a two-panel chart and this does tell the tale. what we see is apple on top, but its relative performance to the nasdaq 100 continues to stall and by my work, one is skeptical going into the print this coming week >> all right, carter we go to mike. what's your trade out of this? >> yeah. so it's interesting as far as i'm concerned. apple, you know, this obviously is a company with a fortress balance sheet and some would say well positioned all things considered for what is a very weak economic environment, but the thing is this is a hardware company and it used to trade at a hardware company multiple which meant that it traded at a discount in terms of valuation relative to the rest of the market because of that like a lot of other consumer electronics companies did. right now it's tradi

you saw proctor and gamble with revenue increases in the quarter, earnings increases in the quarter,sing their dividend. johnson & johnson did the same thing a few days ago. so the banks are probably ground zero for the uncertainty. they have to kind of extend credit to an economy that right now has no demand for credit. so you expect banks to be more constricted in the immediate weeks and months following this contraction as things open up. that will definitely change for the banks down the line. maria: so where are the opportunities in terms of investing today, if there are any? i mean, in the past you've talked about dividend payers. do you want to stick to your strategy that you've been on before, or are there new ways to invest in new normal? >> well, there's new ways to invest within the same philosophy, at least at my company. we believe in dividend growth companies through bad markets and good markets. the difference is right now those dividends have all gotten much better. you have companies like verizon and merck and coca-cola that are paying higher yields than they were a

drink so why and you never did anything other than what you will prescribe is and then write another proctors was the off label use of drugs this is the use of drugs to treat elements other than what they were designed for off label use is not illegal or regulated by the f.d.a. doctors began prescribing oxycontin for migraines and depression there's no law against writing the drug for an off label use so there might be the drug detail guy comes in your office and you know with a wink and a nod and says you might want to use that try try that drug for this because some other doctors we know have used it for that even though it's not approved for that in addition to oxycontin other opioids were put off label use one of which was methadone a drug used to treat heroin addiction. joining me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics sport business i'm showbusiness i'll see that. something man has eaten put on a chain on and i started going with that same. with nothing to do on that i desire to know. but much older. just a little plenty of them st

guest: yes but you know i really feel those three books ashes to ashes cigarette century and robber proctors whole corpus of work the biggest of which is called golden holocaust, i really feel as though i'm expanding on the shoulders of giants. these were fantastic works and my work is tremendously indebted to them but you know what i was thinking about writing about tobacco i wasn't approaching it the same way as they were. they were very much coming out this from the angle of industry and when i began this project in a much more humble state as a lowly graduate student i thought about agriculture and farmers which is probably not surprising i actually saw these works as a reason for my opening wedge to write about it differently and then of course the book and the project changed quite a bit in the past 10 years from when i began this low these many years ago. >> host: let's start with the bake it -- they see question, how does professor sarah milov view this book? >> guest: i think returning back to those three works that you mentioned returning to how we think about the cigarette in popu

which students would take online with remote proctors. administrators of the a.c.t.ay they also plan to launch an at-home option. >>> coming up, the new study about the coronavirus warning people could be most contagious before they even feel sick. >>> also ahead, what we're learning about the shocking plane crash overseas. when in your gut,dent you feel confident to take on anything. with benefiber, you'll feel the power of gut health confidence every day. benefiber is a 100% natural prebiotic fiber. good morning mrs. johnson. . . we turn to the most certain thing there is. science. science can overcome diseases. create cures. and yes, beat pandemics. it has before. it will again. because when it's faced with a new opponent, it doesn't back down - it revs up. asking questions 'til it finds what it's looking for. that's the power of science. so we're taking our science and unleashing it. our research, experts and resources. all in an effort to advance potential therapies and vaccines. other companies and academic institutions are doing the same. the entire global sci

and you never did anything other than what you will prescribe right i know there proctors was the off label use of drugs this is the use of drugs to treat elements other than what they were designed for off label use is not illegal or regulated by the f.d.a. doctors began prescribing oxycontin for migraines and depression there's no law against writing the drug for an off label use so there might be the drug detail guy comes in your office and you know with a wink and a nod and says you might want to use drugs for this because some other doctors we know have used it for that even though it's not approved for that in addition to oxycontin other opioids were put off label use one of which was methadone a drug used to treat heroin addiction. but i. was on the floor. trying praying. i was having fever. and. most you. would do. very simply she had us until this initiative. on the grounds that. i have didn't. push myself but it is for me in the face of good. for years i had treated patients with heroin addiction with high dose methadone which is the appropriate treatment and so. i was think

and you never did anything other than what you will prescribe right i know there proctors was the off label use of drugs this is the use of drugs to treat other than what they were designed for off label use is not illegal or regulated by the f.d.a. doctors began prescribing oxycontin for migraines and depression there's no law against writing the drug for an off label use so there might be the drug detail guy comes in your office and you know with a wink and a nod and says you might want to use it for this because some other doctors we know have used it for that even though it's not a proof in addition to oxycontin other opioids were put off label use one of which was methadone a drug used to treat heroin addiction. the derivatives became so huge in size over a quadrillion. of the actual stuff to the point where the stuff is meaningless derivative matter and so the best derivatives now are increasing so as to rivet as on top of derivatives and this is how you get to a place of negative prices on oil because when you trade oil derivatives you're not trading you're trading purely on th

write i know there proctors was the off label use of drugs this is the use of drugs to treat elements other than what they were designed for off label use is not illegal or regulated by the f.d.a. doctors began prescribing oxycontin for migraines and depression there's no law against writing the drug for an off label use so there might be the drug detail guy comes in your office and you know with a wink and a nod and says you might want to use that try try try for this because some other doctors we know have used it for that even though it's not approved for that in addition to oxycontin other opioids were put off label use one of which was methadone a drug used to treat heroin addiction. you're sitting somewhere i. just let's see i guess. i was on the floor something's in my bathroom you know crying praying . there's time for western worms i was having chilling fever and i didn't have any sense of snakes or smell from the most young women or girls would you. recently she you know sometimes or just used to. snap on somebody's song around the circle for research. i have heard and. push

>repoer: andrew proctor, director of the portland nonprofit, literary arts, collaborates with powell's to bring authors to portland. >> you know, powels books is onof the most important, you know, institutions in american literary life. >> reporter: f the top of your head, can you tick off some of the notable writers who have read at powell's? >> i mean, everyone! i don't even-- like, it would know, you know, if you thinkou about salman rushdie, if you think about toni morrison, you know, ursula k. leguin, the list just goes on and on and on. everybody, i think who we'veer eally valued as a writer has come through those doors. >> repoer: each year, powell's 500-or-so readings draw an estimated 36,000 people, big numbers in the bookstore world. the bestck-selling author moody say's there's nothing in the couny like reading there. >> the first time i ad there, i knew a tiny bit about it by reputation. and then i had that amazing experience of coming up burnside and seeing the marquee. >> there's something about powell's and that big marquee right in the middle of downtown that gives a b

the interesting thing about that is that you've got proctor and gamble which sells charmin and amazonthe other side that sells toy l sells toilet paper as well the use of basic household supplies are not going away. both of those industries and sectors and top needs in there like procter & gamble, walgreens, walmart, costco they could be well positioned. so there is one idea for you >> interesting you bring that up there have been a lot of moves to the upside for these companies. is there any regard or concern that many of these plays or consumer staple stocks are even getting more overvalued now given there is a flood of interest in them over the past month or so. >> a lot of interest in them but they have been operating along with the rest of the market. you have to pick your spots. the market is likely to test some of these lows if you look at these days, we still are pretty low health care is another really good one there are a lot of qualities to health care. there is a race when it comes to the company. we started here with the forward earnings they are pretty much still there i

we'll be taking a look at tomorrow morning's papers in a moment with kate proctor and asa bennett.eing discharged from hospital treatment for conronavirus. ministers say the public must adjust to "a new normal" in the fight against coronavirus. medics insist that social distancing remains vital. we now have a very definite trend in a reduced number of people in hospitals. that is definitely showing that our compliance with social

what i think is fair to say and what has been really well explored by some other scholars, robert proctor in particular has a book titled "golden holocaust" that explores basically the tobacco industry's use of what you can think of as scientists for hire. basically beginning in the 1950's, the tobacco industry, the major cigarette manufacturers came together and decided to pursue the strategy of creating doubt, and doubt would be the way they would avoid regulation. one way was to give money to scientists who were researching either topics unrelated to tobacco or methods of research that they felt would exonerate the cigarette, so you do see a large number of not just physicians but other types of scientists receiving tobacco grant money, and the tobacco industry saying, "well, these scientists agree with us, and we sponsor research. we are genuinely interested and finding the answer" to the question that was really no longer a question, as to if cigarettes cause disease. >> thank you. >> hi, i'm curious about how individual smokers or groups of smokers may have responded to this activis

bounce at all from those defensive plays that done so well for us in the last several weeks like proctor, coca-cola. not much energy there today. one good piece of news, the banks after a rather rough week, the etf bouncing about 6% from its high to low. the key regional banks are trading up most of them were trading to the down side. finally, just on oil, had a lot of inquiries about uso and all these oil efts want to remind every one they own oil futures. either the front month in the case of uso they tend to roll over a couple of weeks before the contracts expire. uso does not own any of those may contracts anymore. june and likely some july contracts as well. a lot of confusion about how these etfs work that are commodity based that own the futures contracts. what we're seeing here, is pennies for the may contract $22 for the june contract. $27 for the july contract. it's pretty simple all of these people own futures contract, they don't want to own them they don't want to take the liberty of oil and nobody else does either. right now of this front month contract back to you. >> all

here in europe, because we don't have a proctor chapter bankruptcy process and are less willing to tackleur unions and pensions head on, we've never really had that cathartic cleansing process in the european market, and it just so turns out that this virus is really expediting that consolidation story. what should have been 10 years looks like it is going to become a two or three year consolidation story. you talked on the u.k. side. the u.k. market is already relatively consolidated. atlantic is 83% market share held by three alliances, and as alliances are strong, and will continue as we move out of this crisis to charge higher prices. guy:. . ok -- guy: ok. so virgin fails. do the slots at heathrow to get picked up by someone else? with the government be ok with iag owning those slots? i don't understand. that is a huge amount of capacity being taken out of the north atlantic. delta owns a 49% stake. it can't own anymore. i'm kind of curious, what fills that vacuum in the u.k.? mark: when you talk about heathrow airport, to be honest, iag already holds 40% of capacity, so needless to

can't companies just make more toilet paper the big 3 us toilet paper companies, georgiapacific llc proctor d gamble co and kimberly clark corp weralready running their toilet par plants, 24 houra day fore the new coronavirus hit. that's the only way they can makea profit on such a low margin product. the companies are trying toincrease output by making fewer varieties of toilet paper. they'ralso trying to get the product to stores more quickly atlanta-b georgia pacific is rking wih packaging suppliers to get more materials and mamizing the number ofdeliveries. it can ship from its facilities. so when will things geback to normal. body knows for one thi the new coronavirus could permanently increase the demand for householtoilet paper, raising prices on toilet that was done in 13 during the oil embargo might curb hoarding that itould make it hard for some consumers to afford. prior to the coronavirus crisis about half of us toilet paper sas were commercial in the other half re for homes. >>but it's now estimated us house household demand is up 40th many offices and schools closed. >>kron 4

if schools refall, the test wil proctored online.tate bar trustees also recommending postponing or canceling california's bar exam. it would be pushed from july to september. about 9000 law students were expected to take it.>>> happening today, free pet food pantry will open up in oakland. dog and cat owners can drive up to edition british and ellipse is a distribution spot and get food between 11:00 am and 1:00 pm. >> have people up and calling in asking to possibly come and take them, when a call back and say what is the reason, they are like i can't afford food anymore, i lost my job. >> in memphis tennessee, animal services are currently taking drop off locations and financial contributions online. it plans to offer a food pantry starting next week.>>> timeout 5:46. here's gianna with a check of traffic. >> let's take a look at the roadways are now, chp and emergency crews are working on a trouble spot. they should a special tragic spot heading to millbrae this morning. 101 at the exit, northbound, there is an accident involving

. >> chris proctor was also seen drinking beer, cursing, and making derogatory phrases during the commission meeting, the city says it does not condone his behavior and was sent to consider removing him from the commission at a meeting on tuesday. local residents can't believe his actions. >> you represent us, and you are doing something that is totally outrageous. to an animal, really? and you drunk? yeah. >> in an email to the vallejo times, he apologized and said his resignation is effective immediately. >>> looking live now at sfo where a drop in demand has forced airlines to get flights by up to 90%. the tsa now screening around 96% fewer people than this time last year. the travel industry could be impacted for years to come with many airports eerily empty, the way we travel will be forever changed by the pandemic. flight crews have been calling for ppe and the emirates airline is testing passengers for covid-19 before boarding. billions of dollars have been raised in new funding for u.s. carriers, they will receive payroll assistance from the government would avoid job cuts until the

>> liz, we like proctor & gamble. we like clorox. people doing some streaming with children in the house, disney looks strong even though the theme parks are not open. we anticipate a year from now they will be a very good opportunity there as far as the stock recover. we also like microsoft and apple for being huge cash cows, with people accessing information over the internet to the cloud system via microsoft's azure product. as with upcoming 5g for apple products. liz: kevin, we have 30 seconds left. when you look at stocks, it is tough to catch the bottom. are you buying now? >> you can buy now. you have to have a rules-based approach. take how much money you want to spend, invest, invest a third of it now, market goes down, deploy some more. market goes back up, deploy the remaining third. we think we're middle of a "w" recovery. [closing bell rings] liz: kevin miller, great to see you my friend. we closed down but definitely not out. the dow losing 451 off the floor. that will do it for "the claman countdown". melissa: the pand

defensive names that are going to get through difficult periods, the pepsico las johnson & johnson, proctor and gamble, where people are still going to be buying chips people are still going to be using johnson & johnson's products microsoft. abbott labs. companies with great balance sheets not too much debt. very high quality companies that have cash flow and stay away from those more speculative companies. the most difficult thing that i have to do 33 years of doing this through 1987 and 9/11 and certainly the financial crisis is to counsel individual investors not to panic not to make chose emotional decisions that always get on the neck in the end. if you have a long-term view, if you're a long-term investor, you can stay with that quality you can endure and deal with those emotional decisions. like warren buffett, you can be opportunistic and take advantage of some of these fabulous world class companies when they go on sale >> final question. my guess is that we may be months, maybe even years away from going back to the records we saw just six weeks ago. what's your thought about tha

because it does give proctor. it gives dignity. and it gives resources.nd when you are unemployed, bad things start to happen we seen this in meltdowns across oregon for example a lumber town loses its sawmill, you see some people move right away. you see others who dwell in domestic violence, alcoholism, drug use increase so jobs are critical. >> i think in yamhill and probably a lot of what communities around the us in the 1990s there were a lot of generated comments made about african-american communities were struggling at that time and a lot of sanctimonious thought about how the problem was black culture which was a byword for what were called deadbeat dads for people making bad choices, etc. area meanwhile the psychologist william julius wilson said it's about jobs leaving and he was right because when jobs left, when they left maine, when they left parts of ohio, the same colleges unfolded. this wasn't about culture, this was about jobs. >> in the us we are not as resilient a country when it comes to job losses and you can see that very easily wit

california to make every effort possible to administer the test online with remote and electronic proctoringme 9000 new law school graduates have been expected to take that exam in july. >>> one of the challenges of this pandemic has been the sudden shift to teaching children at home. it is especially hard for tens of thousands of bay area families who don't have laptops or internet access. some help is on the way. >> reporter: ekeler is elementary in san jose, this is the sound of distance learning with students getting lessons at home, sheila quickly realized she did not have enough laptops for her three children to keep up with their now online learning programs. >> they cannot do any schoolwork, without it right now. so it comes with a manual, and this is it. >> reporter: she picked up one of the 2000 laptops they have handed out in the past two weeks. >> i don't think he is my mom's ipad. >> reporter: the largest school district with 30,000 students says about a quarter of its families turned in a computer needs survey. this woman's son was doing his high school assignments on the phone

can't companies just make more toilet paper the big 3 us toilet paper companies, georgia pacific llc proctornd gamble co and kimberly clark corp were already running their toilet paper plants, 24 hours a day before the new coronavirus hit. that's the only way they can make a profit on such a low margin product. the companies are trying to increase output by making fewer varieties of toilet paper. they're also trying to get the product to stores more quickly atlanta-based georgia pacific is working with packaging suppliers to get more materials and maximizing the number of deliveries. it can ship from its facilities. so when will things get back to normal. nobody knows for one thing the new coronavirus could permanently increase the demand for household toilet paper, raising prices on toilet that was done in 1973 during the oil embargo might curb hoarding that it would make it harder for some consumers to afford for kron 4 news, i'm kate rooney. how about a little peek outside we are checking in on the airport sfo cool to mild around the bay area this afternoon. we'll check those aft >>welcom

j & j, proctor, and costco, all this week. >> there's your buy list >> did you hear fauci on snapchat talking about how major league baseball and the nfl could salvage the season with stadiums that are empty. you put the players in a hotel they can't go anywhere they're tested every day, and now "the washington post" says the nfl is considering some contingency plans that include maybe playing to an empty stadium or one that is half full >> there's a plan i know of apparently where they start on thanksgiving and you would play each team in your division, and they would have a limited number of people go i hope they don't jack up the price too much for those, but yeah, they're not going to try to miss that season. they have to have continuity they have to have continuity to play, though what am i concerned -- i understand baseball, not anything you can just tag you're it or something, but football is hard to have social distancing while you're driving a guy into the ground i don't know how it's going to work any ideas? i ought to ask fauci he was a point guard a good point guard, appar

decision that this thing deserves to trade at a consumer staple multiple, something like a coke or a proctor. they're above 20 times so i guess the question you have to ask yourself now are iphones going to continue to grow because that's the only way that you grow services and the ecosystem and wearables around it by growing iphone units and they really haven't done that over the last few years which brings you to the iphone se. there was a disappointment on gross margins, but listen, this was a tough quarter and they did really well. to guy's point, i think it is a little bit of sell the news. does it deserve to trade 24 times this year, 20 times next year which are record highs for this stock in the last ten years, and i would say given their uncertainty, their ability to forecast the current quarter, i would say no and it would settle in lower than here. >> i get that in concerns of the valuation, should we not be comparing apple to itself, but rather to the markets and this environment and whether it deserves a premium versus the broader markets today? >> right well, it is getting a pre

and run on technology so they're betting on the companies that i think that are going to survive proctor and gamble, johnson & johnson are beneficiaries of the coronavirus disaster to one extent or another. it is dangerous to play in the small cap space and dealing with the s&p 100 right now. that's the stuff that's moved the most since the coronavirus stuff moved in go down from there 500 to mid cap and small cap, each rung down you go is a greater amount of underperformance in the market. >> that's a great -- like the s&p 10 right now, bob. >> yeah. if we had an s&p 10 that would be the one to look at. >> for sure. good point we appreciate it >>> washington also providing a lift to stocks today the senate passing another massive $484 billion relief package. while fannie and freddie say they'll pay loans. joining me is mike hennessey and michael kushma neil, just starting with you, you know, would you like to see more on the way here >> not necessarily you know, i think you have to take a step back, kelly, and look at a total situation and understand what's happened to the economy and c

what do you mean by that >> amazon, clorox, proctor & gamble, netflix, peloton you name it. the businesses that are benefiting i heard somebody on the prior show recommend costco. i mean, is costco ever going to have a better month than the last 30 days in the history of the company? >> you have liked costco. >> no, no, no, no. 35 times earnings what you have to pay to buy that stock. >> right. >> the urge to buy the misery trade in here looking 60 days out, then the opposite side of that is things have gotten bombed out and there's virtually no hope for numerous areas including energier and where the opportunities are. >> in other words, bill, you are sort of bigger theme of millennial household formation, watching movies, raising kids, going to the grocery stores. is that delayed and changed with the valuations if costco was attractive before do you have to throw it out of the window because of the extreme trading environment we are in >> that's a fantastic question in 1972, coke and disney were trading at 60 and 80 times earnings they're fantastic companies that did fanta