schwab, chuck schwab, will be here by phone.

charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's, garden restaurants, coca-cola, pepsi-cola, chick-fil-a, subway, bloomin' brands, yum brarngsds papa john's wendy's, wolfgang puck, starbucks, thomas keller john george, my friend john george, and danielle. you know them. from the transportation world, fed ex, fred smith, united

charles: i started charles schwab and company from the investors point of view. i invite you to find out more about schwab today. david: was that something you decided you wanted to do? charles: david, it started out, our company started with a shoestring. we did not have much money. and i had a tough time raising money because wall street certainly did not want to help me develop competition for them. so, as a consequence, our ads, when we first started in 1975, it would be one column, three inches. come and save 75% on your -- so people kept coming into our company. and as we grew over the next couple of years, we had some profitability along the way, we were growing very nicely. once we had a nice article written in "the san francisco examiner" about us, they used a picture of me, leaning over the old machines, and there i was, our director of advertising said why we use your picture sometime, show me there are real people. i said, are you kidding me? what is my mother going to say? what is my father going to say? what is my wife going to say? and my friends?

11th for that in fort worth to start the charles schwab challenge now it's not completely confirmed but that is when they would like to begin the tour if possible wow that's a big all right so take us through the videos where you are so let's start with the nice b.m.x. trick right bike by school motocross so i'm a tire and while he's a french writer he actually was the best b.m.x. flatlander at just the age of 19 he's in his new york city apartment here trying to keep up with the skills and of course be of xs of olympic sports and olympics this year and not until next year but he's there with his girlfriend playing the piano the beautiful backdrop i mean he's got mad skills in the. the dog checking it out on the couch well the dog in the 1st video i thought he was going to hit the dog the dog was like wait wait till you see the dog's reaction he's very impressed as you can see but so that with or not know it. now this next one you're going to love now we have no baseball going all right but the pitcher still need to keep their arms warm right they've got to stay warmed up they got t

she is the chief investment strategist at charles schwab. what did you mess is up next where we will be lit taking a look at -- will be taking look at sweden's approach to social distancing. this is bloomberg. ♪ romaine: broadcasting live from new york to our viewers worldwide, this is what did you mess. -- what did you miss. scarlet: let's give you a snapshot of how u.s. stocks closed on the day. the s&p 500 posting its biggest decline in two weeks backing off from a five-week high. 23 out of 24 groups the client appeared oil prices dipping below $20 a barrel. the backdrop for all of this is disappointing economic data and disappointing earnings as well. is disappointing earnings. we are getting some breaking news here on gilead. alead says all talks to buy stake in bio is crossing the wire now. we will get a little more detail as the information flows through. scarlet: let's keep an eye here to what is going on when it comes to coronavirus. as most of western europe remains in, there is one country doing a little -- doing things a little

reading about a report charles schwab rockefeller. with a report has done in america. i read books on all the money product the new i read steve harvey's book you know all think like real success at black success. you know arkansas department of corrections they have tonight one more time i request to make a film interviews with you. they say that they're too short of staff to allow this . so. we're going to have to tell us your story on the phone is that ok for you ok your calls mr moran but you. i was too young back then to really grasp the magnitude of the devastation. and the pain that all of that is with calls on my family the victim's family and the big the children 'd and they you know i think about the. ringback 18 year old. man after he had planned to. rob someone at an a.t.m. machine for the purposes of getting the bad video $60.00 because after needed funds to pay for his cap and gown and get his bishop diploma. apple had the weapon in a. after the poster truck but the backside. i which failed to. drive a savage well. when it had that was needed a truck grab

[laughter] >> it's a nontrivial point they could sale charles schwab but they couldn't sell charles schwab person. >> that wasn't for sale, and so i used my name and face by that time and advertising. i was getting people to identify the company with me. i don't know who they are going to sell it to. the guy opens up around the block and opens up competing company. we came to terms and they were happy. they ended up what 5 or 6 times what they had paid me in compensation in 5 year's time, that was a good return for them. .. .. "after words" is a weekly program interview nonfiction authors about their latest work. all "after words" programs are also available as podcasts.

sequoia stephens warren stephens great charles schwab chuck schwab. will be here i phone food and beverage national restaurant association mcdonald's darden restaurants coca-cola pepsi cola chick fil a subway lumen brands yum brands papa john's wendy's waffle house starbucks wolfgang puck thomas keller. my friend john george and danielle you know them from the transportation world fed ex fred smith the legend united airlines are skipper you know us u.p.s. david abney j.b. hunt why are sea world wide crowley maritime credible big powerful shippers and transportation companies in telecommunications we have the legendary john malone of liberty media verisign t. mobile charter communications and brian roberts of comcast thank you all very much healthcare new york presbyterian gerry spire friend of mine h.c.a. healthcare sam hasan thank you sam met with sam ascension health common spirit health community health systems trinity health cardinal health mckesson 3 m. thank you mike roman for helping us with a face mask so worked out well for everybody procter

charles schwab chief investment strategist liz and sawshedders -- liz and saunders joins the panel now. we've seen economic numbers that are literally worse than anything we've seen in our lifetime. the market is kind of manic-depressive. help us make sense out of all this first thing you're looking at, you say, health care. >> well, absolutely. as much as the virus defines when and the magnitude of the shutdown, i think it will define how and when we open the economy back up which is paramount to understanding the depth of the economic hit here. we know some to have higher frequency economic indicators that are leading in nature pick this up first, notably initial unemployment claims and now continuing claims and four week average of claims now that we have about a month's worth of call it post-shutdown data. and i think those will still be very valuable metrics. but i think we need to focus mostly on the so-called high frequency measures of growth. not the backwards looking quarterly or maybe even monthly numbers, but some of these more -- [inaudible] to get a sense of the depth of r

charles schwab chief investment strategist liz and sawshedders -- liz and saunders joins the panel now. we've seen economic numbers that are literally worse than anything we've seen in our lifetime. the market is kind of manic-depressive. help us make sense out of all this first thing you're looking at, you say, health care. >> well, absolutely. as much as the virus defines when and the magnitude of the shutdown, i think it will define how and when we open the economy back up which is paramount to understanding the depth of the economic hit here. we know some to have higher frequency economic indicators that are leading in nature pick this up first, notably initial unemployment claims and now continuing claims and four week average of claims now that we have about a month's worth of call it post-shutdown data. and i think those will still be very valuable metrics. but i think we need to focus mostly on the so-called high frequency measures of growth. not the backwards looking quarterly or maybe even monthly numbers, but some of these more -- [inaudible] to get a sense of the depth of r

charles schwab chief investment strategist liz and sawshedders -- liz and saunders joins the panel now. we've seen economic numbers that are literally worse than anything we've seen in our lifetime. the market is kind of manic-depressive. help us make sense out of all this first thing you're looking at, you say, health care. >> well, absolutely. as much as the virus defines when and the magnitude of the shutdown, i think it will define how and when we open the economy back up which is paramount to understanding the depth of the economic hit here. we know some to have higher frequency economic indicators that are leading in nature pick this up first, notably initial unemployment claims and now continuing claims and four week average of claims now that we have about a month's worth of call it post-shutdown data. and i think those will still be very valuable metrics. but i think we need to focus mostly on the so-called high frequency measures of growth. not the backwards looking quarterly or maybe even monthly numbers, but some of these more -- [inaudible] to get a sense of the depth of r

june 11th at the charles schwab challenge out in texas. however, there may be no gallery, meaning no fans. looking to follow the guidelines set by the government and health officials, the pga says early tournaments are expected to be played without spectators. >>> and after holding out hopes for weeks, organizers of the tour de france say this year's race will be postponed. the 2020 tour was supposed to begin on june 27th. however, french president emmanuel macron says no public wd can be held uil it can take place later this year, but no new dates have been announced at this point. >>> coming up in our second half hour, capitalizing on the pandemic. the troubling thing police say this woman did after stealing from a local target. >>> and from producing snakers -- sneakers to making masks, the bay area company making a pivot to help fight the disease. stay with us. sneakers to making bay area company making a pivot to help fight the disease. stay with us. to making masks, t company making a pivot to help fight the disease. stay with us. al

tour officials are expecting to resume their season and mid tune with the charles schwab challenge in texas. the tournaments are expected to go on thout spectators. now if the tour is able toresume its candar that would mean a number of majops and the lack the late summer and fall, including the pga championship at san francisco's harding park in august and then also the masters and november, we shall se well the tour de france, the grd a cycling race in the world has been postponed. the threeeek tournament was scheduled for latejune, but the french government has banned all events until mid july. the expectation is that the race takes place in august, however, there is no new date lined up just yet. the last time the tour did not ke place was back in 1946 as the nation wastill recovering from world war 2. other parents nd some help keeping the kennels occupied while being quarantined at home sesame street has you covered. >>doing good to be good to more you talk. it's new your host. a yeah before we start the make sure that your are they think he yeah me with. >>i ve the cookie monst

and there charles schwab accounts t.d. ameritrade retail traders now how to tell traders invest in oil is through e.t.f. through the u.s. so yes it's a it's an investment structure designed to give every tell investors exposure because they're not they're not liquid have to buy these massive oil contracts oil contracts are traded in futures in a 100 in a 1000 barrels per lot future contracts so because it was so popular or oil traders and wall street they typically never keep positions into expert because that's when the dries up and wall street knows that we tell traders however all decide to pile into us so e.t.f. in recent weeks given that depress prices hoping to make a quick pop because they thought that well prices were too low and it's impossible to go negative they never heard of such a thing the u.s. . surgeon represent about 30 percent of the contracts outstanding so when the music stopped and oil expert a date came last week they were the ones holding the ha potato when the music stopped and retail traders were

schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's, darden restaurants, coca-cola, pepsi-cola, , yum brands,subway papa john's, wendy's, waffle house, starbucks, wolfgang puck,, keller, john george, my friend john george, and daniel does you know him. -- you know him. ups, jbnited airlines, -- hunt, crowley, maritime. in telecommunications, the legendary john malone of liberty media, t-mobile, charter , and brianons roberts of comcast. thank you very much. health care, new york presbyterian, jerry speier, hca health care, thank you, sam peered i just met with sam. , common spirith health, community health systems , thank youhealth, 3m for helping us with face masks. it worked out well for everybody. procter & gamble, abbott laboratories, johnson & johnson, merck, pfizer, eli lilly -- shery ahn: you have been listening to the president talking about reopening the economy and how he is speaking to many companies and banks about this potential reopening. in some states, it co

jeff klein top of charles schwab. coming up it is the crude slip pain, conocophillips slashing production, and i will speak exclusively to the ceo. this is bloomberg. conocophillips slashing production and halting all fracking. [standby] you are looking at the principal -- this is me being confused working from home. conocophillips is currently slashing production and helping all u.s. franking -- fracking. joining me now is the ceo, ryan lance. it is always good to check up with you. yesterday was a tough day for the company and all of the cuts you did. i want to get a sense on the production that you cut and the steps that you are taking on what oil forecast is that based on? ryan: it was some difficult decisions, but the market has been pretty difficult and inventories have grown as you have seen at record rates. that is delivering low prices and you cannot just look at the marker price you also have to look at the net prices that companies are receiving. we just looked at that and said those are too low for us. we

charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's, garden restaurants, coca-cola, pepsi-cola, chick-fil-a, subway, bloomin' brands, yum brarngsds papa john's wendy's, wolfgang puck, starbucks, thomas keller john george, my friend john george, and danielle. you know them. from the transportation world, fed ex, fred smith, united airlines, oscar munoz, ups, david abney, hunt, crowley, maritime, incredible big powerful shippers and transportation companies. in telecommunications, we have the legendary john malone of liberty media, verizon, t-mobile, charter communications, and brian roberts of comcast. thank you all very much. health care, new york presbyterian -- >> i'm going quickly bring in kristen welker, because we at least have an of what he is announcing today and what he did not announce today. probably the most important news was that he in his own way, kristen, announced that he would leave it to every governor, other than asking a governor for their plan on how to

jillian: planning to host the charles schwab challenge in texas, kept away from pro golf events, the pga hoping to host tournaments until the beginning of september. rob: this follows recommendations from doctor anthony fauci on how supports should return, players should be kept in hotels with regular coronavirus testing. would you rather have seasons in empty stadiums or wait until games get back to completely normal? your comments pouring in on this. jillian: fans can watch from home, players want to play. rob: kurt right it is just a scrimmage without the fanfare live. jillian: i would taken the stadium games if need be, no one wants to wait any longer for all this to get back up. you have to think about the players too. i would be curious if a lot of the moral of them would play, if they are kept in hotel rooms and can see their family, that would be tough. rob: that is the tricky part. football would be like golf, no fans cheering, just quiet. jillian: for the record i want to watch golf. time to check in. with steve doocy to see what is coming up on "fox and friends" getting al

schwab june 11th in fort worth, and three tournaments after that without fans allowed in. everything else, really still up in the air regarding sports leagues from the nba, nhl, major league soccer. even the 2020 olympics rescheduled for july 2021 are said to be far from a sure thing right now, dana. so much up in the air. >> dana: fascinating report, jared, i know everybody's anxious, we'll keep in touch with you, thank you so much. and thank you for joining us everybody, am dana perino, i will see one story time at 3:30. tomorrow we have brad paisley. see you then. >> bill: dana, thank you, fox news alert now, welcome to tuesday, i am bill hemmer. state of new york's economy dominating the action of the white house as we speak. president trump getting ready for a meeting with one of his biggest coronavirus critics. here is where we stand at this hour. a new york democratic governor andrew cuomo set to arrive at the white house for a critical meeting. that's it done comes a several governors try to reopen their states for business. meanwhile, we are just getting word to l

schwab allenge that's in texas. the tournents are expected to go on without starts up again there would be a number of majors in the late summer and fall that would includthe pga championship at san francisco's harding park. that's scheduled for august and the masters was scheduled for november. just off the green. and the most famous cycling race in the world has been postponed a 3 week tour. de france was scheduled for late june, but the event has now been postpon until at least august 29th. >>before we go how about a little peek outside you want to check in on 92 to keep in mind that the is an accident that's wrapping up you can see because it's right behind the camera. it's west's 92 before the toll plaza that right lane still blocked by an injury crash. but overall pretty decent tbute to the we're all doing our part by staying at home. that could mean anncrease in energy bills. you can save by setting your heat to 68 or lower... unplugging and turning off devices when not iuse... just letting the sun light your

charles schwab chief investment strategist liz and sawshedders -- liz and saunders joins the panel now. we've seen economic numbers that are literally worse than anything we've seen in our lifetime. the market is kind of manic-depressive. help us make sense out of all this first thing you're looking at, you say, health care. >> well, absolutely. as much as the virus defines when and the magnitude of the shutdown, i think it will define how and when we open the economy back up which is paramount to understanding the depth of the economic hit here. we know some to have higher frequency economic indicators that are leading in nature pick this up first, notably initial unemployment claims and now continuing claims and four week average of claims now that we have about a month's worth of call it post-shutdown data. and i think those will still be very valuable metrics. but i think we need to focus mostly on the so-called high frequency measures of growth. not the backwards looking quarterly or maybe even monthly numbers, but some of these more -- [inaudible] to get a sense of the depth of r

schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's, coca-cola, peps coa -- pep s pepsi cola, wolfgang puck, john george and danielle, you know them. chik-fil-a. transportation, fedex, united airlines, ups, yrc worldwide. maritime, powerful shippers. and telecommunication, liberty media, thank you all very much. health care, new york presbyterian, jerry spier, friend of mine. hcac health care, just met with sam. ascension health, trinity health, cardinal health, mckissen, 3m, thank you, mike roman, for helping us with face masks. worked out well for everybody. procter & gamble, abbott laboratories, johnson & johnson, merck, pfizer, ely lily, thermo fisher scientific, they've been helping us with testing. gilead sciences, regeneron, roche, roche has been fantastic on testing. the job they've done. i have to call them out. they have stepped up. anthem, united health group, aetna, cigna, humana. all the big ones. the tech companies, we have the right ones, apple, we have tim c

charles schwab will be here by phone. food and beverage national restaurant association. mcdonald's, garden restaurant restaurants, coca-cola, pepsi-cola, chick-fil-a, subway, blooming brands, yum! brands, papa john's, wendy's, waffle house, starbucks, wolfgang puck. thomas keller, john george, and danielle, you know them. from the transportation world, fedex, fred smith, the legend, united airlines, oscar minnows, ups, david abney, j.b. hunt. why rc worldwide, crowley, maritime, credible, big powerful shippers and transportation companies. in telecommunications, we had the legendary john malone of liberty media, verizon, t-mobi t-mobile, charter communications and brian roberts of comcast. i think you all very much. health care, new york presbyterian, jerry speier, a friend of mine, hca health care. ascension health, trinity health, cardinal health, mckesson. thank you for helping us with the face masks. procter & gamble, abbott laboratories, johnson & johnson, merck, pfizer, eli lilly, thermo fisher scientific, they've been helping us incredibly with testing. gilead sci

charles schwab chief investment strategist liz and sawshedders -- liz and saunders joins the panel now. we've seen economic numbers that are literally worse than anything we've seen in our lifetime. the market is kind of manic-depressive. help us make sense out of all this first thing you're looking at, you say, health care. >> well, absolutely. as much as the virus defines when and the magnitude of the shutdown, i think it will define how and when we open the economy back up which is paramount to understanding the depth of the economic hit here. we know some to have higher frequency economic indicators that are leading in nature pick this up first, notably initial unemployment claims and now continuing claims and four week average of claims now that we have about a month's worth of call it post-shutdown data. and i think those will still be very valuable metrics. but i think we need to focus mostly on the so-called high frequency measures of growth. not the backwards looking quarterly or maybe even monthly numbers, but some of these more -- [inaudible] to get a sense of the depth of r

schwab challenge in expected to go on without spectators at the tours able to resume its calendar that would mean a number of majors in the late summer and fall, including the pga championship san francisco's hardi park in aust and the masters november this finally the outbreak has afcted the running of another major sporting event thtour de france, the grandest cycling race the world habeen postponed. the 3 was scheduled for early june, t the french government has banned all events until mid july. the expectation is th race takes place in august, however there are no new dates lined up the la time that or did not take place 1946 the nation was still recoverinfrom rld war 2 that if u look at sports. back to ukraine thinking th. well pro sports in florida are getting the green light to resume. >>after orida's governor dean them esntial services and really 're only talking about one if you want to call it a pro sport, it that's entertainment. the same list that includes essential services. >>we're talking grocery stores, hospitals, banks, utility companies, gas stations, the whole bit an

they said the charles schwab challenge will be held on june 8th, three weeks from where it was originally. they're saying for the first four events there's not going to be any fans there. that's key to kieep in mind as the nba, major league baseball and other professional sports associations, the nhl as well, are looking to federal guidelines and guidance as to when they can really pick things up. one thing is for sure, it's not going to happen likely with fans and there needs to be testing to make that happen. i spoke with the nhl commissioner, gary bettman, about what this process has been like and what they're missing trying to get players back on the ice. >> sports is an emotional bond and an emotional connection on so many levels which is why in the ordinary course of things and in most crises sports can be a healing factor. >> is it fluid at this point? do you have a date in mind as to when hockey could come back? >> everything is fluid. as i've said, nothing has been ruled in, nothing has been ruled out. can we play into the summer? if we had to, the answer is yes. >> reporter: com

>>well meanme, it appears ready to go tour officials are season in mi-june with the charles schwab challenge that's in texas. the tournamens are expectedto go on without spectats though if the tour is able to resume its calendar that would mean a number of mars that summer and fall that would incle the pga championship at san francis's harding park is scheduled for august and also the masters schedule for november 1st off the green, and the biggest cycling race in the world has been canceled or postponed anyway. the 3 week tour france was scheduled for late june. but the event has now been postponed until e end of august anthen they'll see it will now scheduled to star any way tentatively on august 29th. >>d before we go a little peek outside checki in on leavinhayward it's busy already packed the flat to section. but no big probles heading to the peninsula wl be in these uncertain times,look a, your family, youfriends. but know when it comes to your finances, we are here for you. what can i do for you today? we'll take a look at the portfolio and make adjusents. i'm free to chat if yo have

today the pga tour announced a revised schedule with the first event, the charles schwab challengeune 11th in fort worth, texas. that event and throws three others will be played without spectators. in all, the pga announced dates today for 28 events, including the safeway open beginning september 10th in napa. the tour previously announced the pga championship at san francisco's harding park would be moved to august 6th. >>> all right. a star-studded lineup wants you to be their guest, be their guest for a disney sing along tonight on abc7. >> i won't sing because i like people to keep tuning in. celebrities and their families will take on their favorite disney tunes from their home. performers include ariana grande, deem any love vlad doe, kristin chenoweth and former "dancing with the stars" derek hough. >> to bring joy. that's what this is all about. for people, families to come and watch and sing along. my girlfriend and i were performing be our guest from beauty and the beast and dancing around the house and making a mess and rearranging furniture. the idea is to bring joy and s

. >> appreciate it your take on charles schwab. >> look. it is a high quality company but that doesn't mean it's a stock i want to own. they like the banks have interest they generate interest revenue on the balances in the broke and accounts and margin debt forget about the write-offs on those but not making money where the rates are. i'd avoid the financials completely. >> dr. j, coming to you from thomas in illinois carnival, is that a buy at this price? >> i don't believe so, scott i think the buy was a couple weeks ago but i did buy the bonds and i plan on holding those a long time, scott they're yielding nearly 12%. >> okay. amy, from david in north carolina, a comment on a long-term growth of teledoc. >> we bought it last year. it was fortuitous timing we didn't know that telemedicine would go through the roof this year but we think the trends are still there. and, you know, $12 billion market cap with runway here. >> michael, to you arvind in connecticut, which is is a long-term stock, j&j or abbott >> yes, absolutely both of them p

. >> welcome back to "fast money," the wild week on wall street are bringing new traders charles schwab reporting a record number of new brokerage accounts opening if you don't know what you're doing you can get burned big time many of you know our next guest has his own cautionary tale to tell david portnoy is founder of barstool sports. he took a crack at day trading and he put $3 million and he's currently down about $600,000. dave, welcome. >> how are you if. >>. >> i feel like we should play the sad trombone have you ever traded a stock before this? >> i was a twitter guy so my first foray, i think i bought twitter around 50 and then watched it climb back to 40. >> what's your stride in your portfolio and how do you choose the stocks to go in there. >> so i'm flat right now today i was trading shop pify a amazon all day i look for stocks that i put a lot of money into it and i look for stocks that have high volatility and a lot of volume so i don't want to be shaping the market and i look at big stocks that a lot of people are trading a lot of. >> you mentioned two stocks that you'

charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's. darden restaurants. coca-cola. pepsi-cola. chick-fil-a, subway. bloom inbrands. yum brands. papa john's, starbucks, wolfgang puck. thomas kel lore. my friend john george, and danielle. you know them. from the transportation world, fedex, fred smith. a legend. united airlines, oscar munoz. ups, david abney. j.b. hunt. yrc worldwide. crowley. maritime. incredible, big, powerful shippers in transportation companies. telecommunications which have the legendary john malone of liberty media. verizon, t-mobile. charter communications. and brian roberts of comcast. thank you all very much. health care, new york presbyterian, jerry spire. a friend of mine. hca health care. sam hazen. thank you, sam. just met with sam. ascension health. common spirit health. community health systems. trinity health. cardinal health. mckesson. 3m. are thank you mike roman for helping us with facemasks t worked out well for earning everybody. proctor

schwab, chuck schwab, will be here by phone. food and beverage. national restaurant association, mcdonald's, darden restaurants, pepsi, coca-cola, yum brands, papa john's, wendy's, starbucks, wolfgang park, thomas keller, my friend jean-georges, and danielle. you know them. from the transportation world, fedex, united airlines, ups, david abney, jb hunt, yrc worldwide, crowley, maritime. incredible shippers and transportation companies. in telecommunications, we have the legendary john malone of liberty media, verizon, t-mobile, charter communications and brian roberts of comcast, thank you all very much. health care, new york presbyterian, hca health care, thank you, sam. i met with sam. ascension health. common spirit health. community health systems, trinity health, cardinal health, 3m. thank you, mike roman, for helping us with face masks. it worked out well for everybody. procter & gamble, abbott laboratories, johnson & johnson, merck, pfizer, eli lilly, thermo fisher scientific, they've been helping us incredibly with test

charles schwab also reporting $.58, thatoming in was down from $.69 year on year. open to say clients record 609,000 new brokerage accounts. that is an extraordinarily large numbers. the stop down over 3% on the premarket. coming up, bank of america shells -- shares also falling. we will bring you highlights from the analyst call. this is bloomberg. ♪ alix: bank of america's analyst call underway. bloombergs sonali basak has been listening in. what have you learned? sonali: we are listening to the ceo brian moynihan and the cfo. in the first is it weeks of april, down 40 to 60%. we have some insight into how the consumer is behaving. $60e they were spending billion weekly, that has dropped to $50 billion and that has normalized from the trough we have seen in mid-march. they are trying to provide bright spots to the consumer. what we do not have is the net income interest expectation through the end of this year, which we believe will be under pressure. alix: especially on a risk off day. equity futures still treading around the lows of the session, now off 81. b

chief fixed income strategist at the charles schwab center for financial research. great to have you. we are getting more clarifications when it comes to the philippines. comments from a few minutes earlier, he was referring specifically to virus funds. we had the finance secretary coming out and clarifying that he was not -- funding was not an issue at this point. we will get a more detail on this. philippines planning a loan program for small businesses. we see that extension of that lockdown for the capital as well as nearby regions through the middle of may. we're getting numbers now from the coronavirus cases out of china. china reporting six additional coronavirus cases on april 23. a very low number there. forout of the 16 cases april 23 are imported. we will get the details. coming up next, we review earnings from chinese insurers as the pandemic hits sales and investment returns. this is bloomberg. ♪ karina: first word headlines. global virus cases continue to rise. more signs of easing in some areas. world leaders are being criticized. the ecb president

schwab investment management. you both have long titles. daryl, first to you, you put out a note to your clients a few days ago saying the bear market is still in its infancy. doesn't sound like you're a buyer here why? >> yeah. good afternoon, sara so it looks to us like this is a large bear market rally. it's very normal that the deeper the decline -- we know how deep the decline was in 23 days, peak to trough -- the higher bounce, often the deeper the retest. that's been proven over and over again historically at 2, 50, we are bumping up against key resistance levels and based on where we think earnings are going to go this year, markets still look like they need to reset those earnings expectations possibly lower. so we would kind of fade this rally, be a seller into this rally of particularly mike made a good point about the leaders this week have all been the stocks that have trailed for the last 12 months in performance. quite frankly, the ones that were leading us for the last 12 months are woefully behind

schwab challenge in dallas. however, in keeping with current health precautions, it's expected this spectators, fans will not be allowed to attend that first tournament. >> boy, that would be incredible at least you'd get to watch it at as far as baseball is concerned, a lot of people wondering about that dr. anthony fauci said there is a way to get the season going again but it will look a little different than we're used to seeing. >> there's a way to do that. keep them very well surveilled but have them tested every week and make sure they don't wind up infecting each other or their family and let them play the season out. >> that's a plan. >> keeping them quarantined in hotels nearby where they are playing. maybe you could make it work all right. should we shift gears? do you want a boost? two of them. heller family in maple valley, washington has a lot of times on their hands. they decided they would recreate the music video for journey's hit "separate ways." steve and janet, they wanted perfection they wat