Stocks Surging, Earnings Underway, Coronavirus Outlook Improving

Carl Quintanilla, Jim Cramer and David Faber discuss the big surge in stocks as earnings season gets underway. Leading the charge, Johnson and Johnson raising its dividend but cutting its 2020 earnings outlook over the coronavirus outbreak. Two of the big banks, JPMorgan Chase and Wells Fargo reporting results. JPMorgan reporting a big declines in first-quarter earnings from the virus, but posting record markets revenue. Wells Fargo reporting first quarter earnings of just 1 cent as it sets aside more money for credit losses. Plus, President Trump said at the coronavirus press conference that growth in new cases is stabilizing, providing "clear evidence" mitigation is working in the country.