A day after historic losses, stocks soared during trading today.

The Dow jumped nearly 1100 points on optimism about possible stimulus measures to counter the economic impact of the Corona virus here to help us break it all down, chief economic correspondent Rebecca Jarvis is here.

Rebecca, how much of today's rebound is due to the president's proposed payroll tax cut?

Well, a lot of it is due to that, but if you look at what happened during the trading day today, it's pretty interesting.

Those closing numbers.

With the stock market up, almost 5% look great when you look at that number.

But during the trading day, the market actually erased about 1000 points before rebounding.

And what Wall Street will say is when.

When you look at that type of behavior in stock trading, it's generally a decent sign that that optimism is really taking hold of the overall market because trading is psychological.

What happens even though we talk about numbers and statistics and reactions?

Oftentimes that psychology of what a lot of people on the trading floor and a lot of people on Wall Street are thinking can drive things, too, and then, in terms of what actually is in the plan, from what we know, what would that do for the economy?

Well, it's still unclear exactly what will be in the planet that actually will have a big impact on how impactful it is in the economy.

For example, if there was a payroll tax cut, which is one of the things that's been discussed, that might not show up in the economy as quickly as, for example, giving people those who are out on sick leave, for example, helping pay for that or paying businesses that are not the type of businesses that's goingto pay their employees for teleworking, that type of thing.

And we also know that there are a lot of businesses and a lot of industries that have been hit especially hard as a result of the Corona virus.

Number one being the travel industry.

Cruise Lines Airlines Airlines set to lose one excuse me $113 billion in sales as a result of the Corona virus, that type of thing.

Those types of industries are definitely the ones that could potentially have a more direct stimulus as same as the small businesses because we've heard from a number of small businesses that it really felt, ah, lot of pain.

Even before the Corona virus came here to the United States, they were waiting on supplies from Chinese factories that were shut down.

And now they'll face an additional issue, with consumers being less potentially less interested in spending money as more and more shuttered in.

It'll be interesting to see how competing news of what's happening with Corona drivers versus also what's happening with this proposed stimulus package continue to affect the market going forward.

Yeah, absolutely.

And that's really the tug of war that Wall Street will be playing out in the coming days.

Expect more volatility.

I mean, Wall Street will continue to watch the Corona virus itself and the information that we get about the virus.

It's spread its severity itself.

But one of the biggest things that Wall Street in the days leading up to this proposed stimulus has been worried about is whether or not Washington would take a stand and introduce some form of economic plan in response to the Corona virus.

Now that that looks likely, the biggest question is the Devil's in the details.

What are these details?

Who will get helped and how big will this stimulus end up being, right?

Well, one thing's for sure.

You will be busy.

But Rebecca So thanks for coming by.

We appreciate.

Thanks, Diane.

Hi, everyone.

George Stephanopoulos Here.

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