welcome back breaking news coverage of the fwl global pandemic continues. a big rally on the street with the dow up more than 1,000 points more than 1200 points right now. we're just about on session highs. there are nearly 340,000 cases here in the u.s. about a third of those are in state of new york where the infection and fatality rate is showing some signs of slowing down oil is in the red today after

last week's big rally with saudi arabia and russia feud over cuts the oil market taking a hit today. we do have full team coverage of these markets for you. bob and rick covering the action in stocks and bonds. steve on the latest economic fall out from the virus. bob, we'll kick it off with you and this rally that just keeps building >> it started early on we got right up great overseas numbers. when governor cuomo started talking a couple of hours ago, we moved up on his comments on hopes for plateau. the market took it positively. i want to point out that we are, i call it markets in the middle. we're now 20 off of the lows from the february 19th high, we're now down 22% remember at one time we were down 35%

a bull market to bear market to i don't know how to characterize characterizeize this morning we're 20% off the lows the most beaten up are rallying the most retailers they are a big today wayfair up best day since march 26th for the banks. here are some of the regional banks. sta stap staples are the big lagguard clorox and campbells soup, back in the rally >> we appreciate it. he's get over to rick for the latest on the bond markets

>> look at a two day chart we're many the mid-50s now we're slightly above the mid-60s. we're still at a dance ta makes many investors lower sometimes lower yields are more of a caution sign than anything else yore to date of the investment barkleys the even hovering under 300 basis points, at one point it was close to 400 basis points it's very competitive at these levels especially when you look at the issuance market that's come alive you can see how it's come from 16 to 6%

it's losing a little bit of its steam here getting close to change can't seem to breakthrough 101 do remember it wasn't long ago we were under 95 which means we had a 4% rally in basically five weeks. >> kelly, back to you. >> i hear 95 i don't know if you're talking the dollar, the tenure it's all about the green back. we appreciate it steve, what is this breaking news we're talking about >> the fed just announced it will create a facility, kelly, by which it will buy the small business loans from the banks. it will provide term funding juice up their balance sheets. they will reach a cap at some point in time. the fed will fund them and take them auch their books the way

this facility work we have been tracking the outlook for the economy. the downturn and the upturn together and it's taken a turn for the worst. what's happened here is the worst case scenarios that we're grabbing headline, 30%, 25% decline now becomes the consensus scenario if you look at thelooking for a average followed by two decent quarters that's looking like 14% and then 10% what you see is how much that outlook has deteriorated from the survey we did back at the 19th of march and how much worse it's gotten with the expansion of the shutdown as well as the concerns about contagion first quarter more deeply negative the harder they fall, the better they come back with a better second quarter rebound janet yellen talking about her

hopes for a v shape recovery >> a v is a best case scenario if activity could begin to resume as many assume in june and maybe be gak to something more normal by this summer, i think a v is possible but i am worried that the outcome will be worse and it really depends, to my mind on, just how much damage is done during the time that the economy is shutdown in the way it is now. >> it also depends on government aid. back to you. >> let's go back to news out from fed

will this be additional lending or encourage the existing lending program? >> this will encourage the existing lending program this will really use the 350 that's out there and it will give an individual bank to do more of that lending my best guest it will provide the ability to sell the loans. it's way to fund them and buy them in some way that creates additional capacity a massive chunk of funds for legislation 450 odd billion that will go to the fed that can be grossed up

once the fed gets going with the lending facility i'm told it's a top priority to get that facility together. >> absolutely. i'm glad it's happening one at a time we want all to get up and running. we appreciate the clarification and the news thank you, sir >> pleasure. the major averages are rallying pretty hard this afternoon on some hopeful signs out of europe and other hot spots like new york. a slow down in virus cases and deaths is the market right to believe this crisis may be getting under control. we want slowing in number of new cases a and not increase in the number of deaths what more would you like to see her. >> nobody is paying attention to the economic numbers

they are trying to determine when the economy is get back up and running again. people will get back to work in another month or six weeks then we could go higher i think we have seen the bottoms. in this take a turn for the worse and i think it's too early to tell, but if it does take a turn for the worse and investors begin to believe it will take another two months or even longer before people go back to work, then we will test those lows of march 23rd >> good to see you welcome, everybody we had a little trouble with the shot here from my home i'm here now what if things do not come back that quickly it isn't a snap back

>> that's one of the dangers what does that actually look like what the that path to recovery it's been a very abrupt slow down you can liken it to be we're going through an economic winter at the moment. the key question is whether or not it will become an ice age. what does that thawing of conditions look like it will probably look very unique, very unusual we have seen in the past snap backs in economic activity from recessions we have seen long trudges higher we're portioning portfolios for that pattern there's a risk that if you get economic activity resumed too quickly, you could get a bounce back in term of the number of infections if there isn't a vaccine in place

it's very conditional as to whether or not when they resume activity is there vaccine in place. that's likely not going to happen for a while >> i think that's one of the things that people all worry about is whether there's going to be some breakthrough or in terms of a vaccination consumers social security an trl of faith it's two-thirds or more of the american economy and if that doesn't snap back quickly, not only either because people don't have jobs or because they are just gun shy about going out and spending, that could really slow things down even if the virus is largely recumbent within a few months >> the consumer has got to do

with what consumer does best i think that consumers are going to consume it. it's going be in a different way. >> energy has been hardest hit among all the sectors basically. is it time to start nibbling at energy stocks and if so, which ones >> i think it is time. energy has been hit before the coronavirus started to spread. if you're a long term investor

it would be time to start adding energy, stocks to your portfolio. i could see where companies start shutting in production and enve inventories get drawn down and the price of oil goes up i don't think that could happen for another year i could see that scenario. it could make sense, in my opinion, to add those stocks and the safe way to play it is to add the large integrated company, perhaps the exxons and the chevrons >> thank you very much

let's go over to meg a new partnership to treat the coronavirus using antibodies was announced today. we spoke to the ceo behind that effort >> the focus they are working on is an antibody treatment this involves looking for antibodies from people that have recovered as well as sars, sort of the original coronavirus that affected us 20 years ago now, they have two antibody candidates they plan to start a phase two trial within three to five months gsk a making a $250 million equity investment as part of this partnership

>> we are planning to do these trials on a basis to enroll quickly. assuming the antibody works make that available to people as quickly as we can. >> these timelines are faster than what we have talked about but nothing about this situation we're in is normal >> absolutely not. meg, thank you very much coming up, stocks in rally mode with the dow up better than 1,000 points utilities, materials, real estate, those are the sectors

leading the way now. we'll have more on the marks when we return mortgage mayhem. the former head of the federal housing administration will join us to explain why he thinks trouble is brewing in the housing market that's next. ♪ ♪ ♪ ♪ ♪

welcome back, everybody. let's get over to sue for the layest on the coronavirus. >> thanks so much. good afternoon

wisconsin's governor has ordered a two month delay of that state's primary vote which was set for tomorrow wisconsin republicans say they will challenge that order. he's been unable to strike a deal with republicans to reschedule the election. in europe, france reporting a new surge in deaths from the coronavirus. they are now up by more than 830 since yesterday to more than 8900 here is an event that's isn't being cancelled. lady gaga's con sercert will be televised to help raise money to fight the pandemic the line up including elton john, stevie wonder and chris martin you see the head of the w.h.o. the entertainment strip has already made some big donations. >> i have to say that over the past seven days we have raised a total of $35 million

this money will go to essential ppe, supplies and testing kits around world and will have improve lab capacity and research development >> we'll have more for you next hour we expect a news conference from new jersey's governor and as always if you want more on the coronavirus coverage head to cnbc.com we expect some new numbers from new jersey shortly >> thanks. the director of the national economic council said $38 billion in loans have been approved for small businesses. question now is when will that money get into hands of the business owners. kate rogers is here with a look at that for us >> that's right. we know as of right now, 130,000 loan s have been given for a value of $38 billion the question remains how much that $38 billion has actually made its way to main street.

remember this is faia first com first serve program. we heard from some who have been turned away from banks some are waiting in cues some have been quacontacted by their banks to move forward. we heard from two business owners that have gotten loan numbers from sba we are told by the bank they needed next steps and guidance from the administration before the loan could actually be d disbursed. we seen some tweets talking about small business ordinary reason and prudence who have accessed their money we know more than 2400 lenders are a part of this program that's fwoods negood news. it's up from last week the sba has a lender hot line, they told us, that will be up and running to help on board more lenders and get more cash out the door first come, first serve. a lot of business owners want to

know how much money has gone out and how much will remain back over do you >> we appreciate it. we got the dow up about 1200 point, kelly energy stocks lagging the broader rally as they have on many days as oil continues to fall haliburton the latest to layoff employees. the mortgage market could be turned upside down if borrowers stop paying their bills. we'll look at the potential damage could billion with the former head of the federal housing administration that is xt ayitusne isn't just a department. it's a voice on the other end of the phone. a note to say you're on our mind. a willingness to come to you. the world and how we interact with each other is changing. but that will never change who we are at lexus. now, more than ever, you and your needs come first. find out what service options are available in your area at lexus.com/people first

find out what service options are available when yowhat do you see?itical issues facing our world, we see breakthrough medicines getting to patients in record time. we see harnessing natural gas unleashing the promise of clean energy. we see engineers simulating the future to improve today. at emerson, when issues become inspiration, focusing core strengths to create a better world isn't just a result, it's a responsibility. emerson. consider it solved. won't be a new thing. and it won't be their first experience with social distancing. overcoming challenges is what defines the military community. usaa has been standing with them, for nearly a hundred years. and we'll be here to serve for a hundred more.

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homeowner bail out amid the coronavirus outbreak the former head of the housing administration will join us in a moment let's get to dirana for the details of what's happening. >> reporter: a broad coalition of mortgage and finance industry leaders issued a plea to federal regular lar regulators for cash servers are granting the monthly payment deferrals with no questions asked but the ser servicers have to pay bond holders. it's incup bent upon the government to provide single family and multifamilies a spoke with mr. cooper with close to four million mostly government backed loans. it has granted over 86,000

forbeaeea forbearances he said there would be federal cash for servicers but never made toyoit to the financial ac. servicers will go under leaving more borrowers in the lurch. dave, thanks so much for joining us >> good to be with you >> reporter: you disagree with the way this whole forbearance plans was set up i'm told it was set up so boar re -- borrowers would get relief immediately. >> you don't want to be using federal dollars at a time like this to give to people who do not need it. the program is an extremely effective way to help those who have real job loss and can't make their mortgage payment. the way this is being rolled out it's open to anybody whether

they are wealthy and have paychecks and can continue paying their mortgage as well as those who truly need the money unfortunately, that is just going to balloon up the total size of borrowers who execute and take the plan and put an extraordinary burden on the private sector and ultimately the taxpayer >> for the servicers, why do they not see the disconnect that they can't afford this massive spike in payments they have to come up for the bond holders >> that's the shocking part. anybody can get it go on the website and click a button and skip sixmonths wort of payment, maybe another six months the hard part about this for the private sector is the sheer size and scope of this was given no support by particularly fanny

mae and freddy mac who can create this liquidity advance for the private industry could have done so they didn't. it's inexcusable, in my view, that federal government did not step in after creating such a massive program and provide the support for industry it's getting worse i'll just give you one example i have spoken to variety of lenders across the country mortgages are drying up especially for first time home buyers and those that need a mortgage the most because of all of this uncertainty. the question of whether these companies will be able to survive, we need to back up what we do as a federal government whether it's the congressional legislation or through the regulatory community by rolling out these programs to make sure the industry can survive and continue to provide liquidity to the housing market which we will desperately need as we start coming out of this recessionary

period >> commissioner, it's kelly back here in the studio i want to clarify something because it seems big part of what's happening in the mortgage market is because low rates are causing huge pre-payments and refinancing. understandably they are pulling back for the people who forego payments for a few month, that gets added to the principal. it's not clear to me why a lot of people would want to choose to forego that if they will have to pay it off at some point and they do have the means i'd like your thoughts on that who else authorities could do here >> i was in in federal housing commissioner during the last great recession. we required hardship you had to prove you lost your job and could no longer make your mortgage payments because we wiere concerned. to you point it's interesting how the repayment programs will work fha, for example, you don't have

to repay the loan. the advance is until you pay off the home they get tacked on the back of the loan in what is called a secretary's lean non-interest bearing and it becomes something down the road. i guess for people who even can afford to make the payments, being able to get interest free money thanks to what congress has permitted here, is a really questionable step. while we're hopeful and the director has said publicly he's hopeful people will be honest and if they can afford to their make payments, they will i'm hearing stories from real estate agents and other who is are telling me that's not always the case >> is the fha vulnerable here? you were there during the sub prime. they are getting some liquidity from jenny may, are they not >> they are but fha guarantees

these mortgages. after the servicers outlay six months of payment, they make a partial claim. fha will reimburse for all of those payments six month s really long period for forbearance. it can be extending for another six months the cumulative impact here, it could cost somewhere between 75 to $100 billion of advances, the portion that's fha will have to be reimbursed. they already got in trouble once before we don't need to repeat this same problem that happened in the past >> all right,sir commissioner, thank thank yso m your time. ty >> all right still ahead, oil set to snap its two-day winning streak despite

reports that the saudis and russians are nearing a deal on production cuts. what's next for opec and its allies and its frenemies we'll talk with bishop robert baron about how he is handling the malaise that is permeating society. you can always watch and listen to us live on our app, the cnbc app. we'll be right back. our special breaking news coverage continu aerhi esft ts. i know that every single time that i suit up, there is a chance that that's the last time. 300 miles an hour, thats where i feel normal. i might be crazy but i'm not stupid. having an annuity tells me that i'm protected. during turbulent times, consider protected lifetime income from an annuity as part of your retirement plan. this can help you cover your essential monthly expenses. learn more at protectedincome.org .

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welcome back let's get a check on the markets now. we have been green across the board all session. we have erased all of last week's losses already. the dow is up 5.5% so is the s&p and nasdaq the russell 2000 small caps are up more than 6% today. materials and tech is your leadership today all 30 dell stocks are higher. way fa wayfair is up 38%.

tyler. >> all right thank you very much. the oil market is closing for the day. crude finishing lower by almost 8% snapping a two-day win streak. this as questions remain on whether russia and saudi arabia will reach a deal for production cuts amid very, very seriously dropping demand. bryan sullivan join us with that story. when you look at the demand destruction as a result of the shutting down of the american economy, it's really breathtaking >> it could be 30 million barrel days that's 30% of global demand. it's about 100 million the united states used about 20 million barrels a day. nobody is driving around a lot has been discuss about this deal to get 10 million barrels. it's not 30 million.

people say, russian and saudi can do ten others say no way. everybody is trying to figure out where this ten million may come from. these are estimates based on what i'm reading saudi arabia maybe can do four million barrel a day the rest of opec, you call that, i don't know, two million for being optimistic russia, probably 1.5 million the u.s., 1.5 million and no can. norway and canada, another million. that's how you get to ten. some can do more, some do less that's the basic math around this ten million but that's still not 30 >> hang on i want you to participate in this next discussion as we talk a bit more about the oil market and what's playing out there

with francesco blanch. welcome. good to have you with us >> thank you for having me >> it's great. oil has come up in recent days, but is down today even though the sector seems to be holding, at least the equity parts of it holding in reasonably well what do you see as we move forward and how much hope do you put on the russians and the saudis being able to reach some kind of production agreement >> i think the saudis and russians will probably agree to smig it was always our baseline scenario that we will see both the players come back. the big question is whether they'll agree to some prorated cuts through, for example, rationing by the texas railroad commission or the province of

alberta. there's a precedent for that where they issued mandatory cuts or we'll have to see the lower prices, the price declines for shut ins across america. that's effectively what's being on offer we don't know exactly the saphae of the u.s. response i think russia and saudi arabia are getting closer >> for those of us who do not know, why is the texas railroad commission central to this >> because the authority to order production restrictions, at the state level so unless you're talking about, essential the areas, most of the arrangement and the number one producer in the country across the states is texas. texas railroads commission is central to this. it's been managing oil licenses and leases for over a hundred

years. that's why such a -- >> fascinating bryan, jump in >> the two companies that origin nal nated that motion, it's scott sheffie sheffield. he is pushing for this he is on fast money tonight. he thinks exxon and others are trying to destroy it tune in for that the former ceo is parsley. his son, he's not the ceo anymore. a little family action going on there. they are pushing the texas railroads commission to institute these cuts it really is a remarkable time when you have the oil industry begging a regulatory body to control output what's amazing to me, i did not know that. the interview respected research

said there's 9,000 different american producers from exxon mobile down to some guy with a small well in his backyard producing a barrel day you ever try to wrangle 12 kids. 9,000 oil producers trying to get them to agree on anything could be tough >> all right we'll leave it there thank you very much. kelly. all right. up next, the global crisis from the coronavirus. it's cast a cloud, a cloud of death, despair and extreme financial anxiety across the whole world and as we look to begin holy week in the observance of passover, our faith and spiritual mettle is being tested like never before a conversation with bishop robert it's a challenging market.

edward jones is well aware of that. which is why we're ready to listen. and ready to help you find opportunity. so. let's talk. edward jones. it's time for investing to feel individual. we believe in education built for all people., - [woman] snhu was the best experience of my life. - [man] without snhu, i wouldn't be the leader i am today. - [woman] i graduated high school 19 years ago. i still finished. - [man] in the military, you feel that sense of accomplishment. that's what snhu is. - you will march from this arena and say to the world.. i did it. - [woman] you did it. i love you. - [graduate] i love you too.

there are no fewer than 19,000 funeral homes across the country and all of them bracing for double the number of deaths they typically handle this time of year. it's all because of the coronavirus. contessa has more on the steps they are taking to prepare for this onslaught >> reporter: even in small villages, they are bracing for what's to come inside this funeral home, they are begging suppliers for masks and the face shields they desperately need and the situation in new york city is difficult to comprehend. so are the pictures and we'll show you some of these now as mobile morgues, dozens of them are lined up outside of

hospitals new york city being filled with bodies as we speak fema is sending more of those mobile morgues coming in soon the morgue freezers will be full and temp area burr rals will take place in trenches in city parks. k cremations take place around the clock. there's a nation wide call for professionals to volunteer social distancing means an end to funerals as we know them. >> we're trying to find any possible way to give people comfort that they are not getting. keep in mind, people are not being able to say good-bye to their loved ones in the hospital >> reporter: many families are opting for vunerals. these online platforms where as many as 100 mourners can participate and those few immediate family members who are allowed to attend a memorial

service inside this funeral home were greeted by signs reminding them no handshake, no hugging and if you feel sick, you should stay out >> so tough. thanks very much throughout this coronavirus pandemic we as a network have been covering the tragic loss of life and the epic collapse of our global economies as we begin holy week now and the observance of passover, we want to take a step back and look at how this crisis is testing our faith. faith in our institutions and for some even their faith in god. it's pleasure to have you. an honor to have you here. welcome.

i'm curious what your message will be to our viewers we'll try that in a few moments. ty >> a fascinating conversation and we'll get him back, if we can. the markets rl lrallying today that's the good news amidst all of this trouble. the etf that tracks retail stocks climbing more than 9% but it's still lower by about 35% from where it started the year we'll tell you about some select names to buy and there are some. that's next. life isn't a straight line. and sometimes, you can find yourself heading in a new direction. but when you're with fidelity, a partner who makes sure every step is clear, there's nothing to stop you from moving forward. a partner who makes sure every step is clear, when yowhat do you see?itical issues facing our world, we see a billion more people breathing free. we see access to fresh food being the global norm,

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all right. welcome back, everybody. a big rally on wall street to

welcome in the new week. the major averages having their biggest gains in seven days. the dow up more than 1200 points is it safe to dip your toe or maybe have a whole foot back into the market and what are some of the best opportunities out there right now? matt is here to tell is here ts vice president and portfolio manager with rock bland trust. welcome. good to have you with us as we're up 1245 points what do you think here is this a false bottom or the real thing >> i think we've put in the bottom, tyler. if all indications are the news of f the coronavirus continues to show that the worst case snacenarios are maybe not no longer on the table, i think we spent much of march hearinging about how we missed the opportunity on the crisis however now we're on the other end of the spectrum looking better to avoid the worst case scenario as you see italy and

some other countries improving and our own growth curves starting to come in line with what they did when they went through similar periods. i'm getting optimistic on the sell off that was the bottom now it doesn't mean we can't retrace a little bit of that as the news ebbs and flows. i don't think every day we're going to hear good news r for sure you can't underestimate the human tragedy and the way that plays out people's psyches, but i think in the long-term, not even long-term, if you look back, a larger human tragedy, frankly, than the long-term financial damage that it may have inflected in our economy. i think it was more short-term in nature. >> i think we're going to see a lot of painful images among the next few weeks and among them will be people frustrated to get unemployment checks or waiting on telephone lines for hours and hours to get through to their states, which would is suggest

to me that maybe the consumer economy comes back more slowly than other parts of the economy. what are the sectors you like most right now >> well, i think the banks have been really beaten up and i think there's so much in the cross hairs of trying to get the stimulus money out you know, and the net interest market so i think it's beaten n way too much and some value in the banks for sure i'm not talking about the ones that may not survive >> all right got to leave it there. thank you very much, matt roddy. kelly. >> all right the coronavirus pandemic is testing people's faith and technology as well we're going to try to speak to bishop robert barren about that next you should be mad your neighbor always wants to hang out.

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but right now, the world needs all the good that we can do. to all of our employees and everyone working to keep america strong, thank you. it's been such a try iing te

for everybody getting through coronavirus. here to help sheprd herd us thrg is bishop barren, the auxiliary bishop of los angeles. can you hear me? >> i can hear you fine >> wonderful welcome and we would love to know what is your message to our viewers, especially with holy week now and heading into passover, what is your message during this difficult time >> if i could put it very simply, it's to enter what we call the pascal mystery, the dying and rising of jesus. in a way, to come face-to-face with the darkness of life, with death itself it's essential to this holy week but death leading to resurrection is the great rhythm of the christian life. so in a way, this is a lent we'll never forget this is what we do we face death. with the confidence of the resurrecti resurrection >> what do you say to people

when they say bishop, and again, you're somebody who's so well versed in this stuff that's on social media and the internet. you were one of the first that put up youtube videos and you really enjoy to engage with people on these subjects so what do you say when people say to you, why would god let these pandemics happen, bishop, why? >> the short answer is i don't know and no one does god has a prove den shl plan god is provident over all thi things god wills and permits. what's the purpose of all that i don't know and no one knows this side of heaven, but whatever happens or whatever god permits, there's an opening of the door to love there's the possibility of love and that's what we look for. especially in the dark times what is my opportunity right here, right now, to love that's what god wants. that's cooperating with god's

will you know one of the topics in my own family, the decision some churches have made kurg this time, not just to close mass, but to close their doors all together so suspend things like baptism and funerals except in extreme emergencies and even the people's secretary to the pope has warned that if the church turns its back on people in this time of crisis, they'll turn their back on the church are you concerned about that >> yeah and i've been around the table, not my decision to make ultimately, but i've been around to discuss these things. it's been painful. no church leader wants ever f to close the doors of our churches. that's our whole reason for being but we just perceive this thing is so dangerous and gathering people together in one place, especially a lot of elderly people, who tend to come to church, we just felt this was putting people at too great a risk we hate it no one likes it.

we hope the it's over soon, but felt this was the most prudential decision. my hope is when the day come, i hope it's fairly soon, when we come back to church, we do so in a very festive way, but for the time being, i think we had to do it >> you know, bishop, tyler mathisen here. >> hi, tyler >> struck by your mentioning lent, where christian believers often give something up and we've all been asked to give something up and also the con fluns of passover this week, which is a holiday that has its dark side as well. but both end up in the light but i'd like to come back to something kelly asked a moment ago about why does god allow these things to happen does god intend these things to happen, bad things to happen, or does he or she permit them to happen. >> traditionally using both those terms. i think sometimes god does actively wills things to happen,

but t at the very least, permit. in the case of evil, we use that language god doesn't create or cause evil, but god permits it now that does beg the question, well, why? sometimes, we can see. sometimes out of evil comes a great good that wouldn't have come otherwise now what is is it in this case i don't know and no one knows maybe we won't know for 100 years, but in any case, we have an opportunity to love and that's always cooperating with god's will so permission when it comes to evil is the right language to use. >> well, we so appreciate your time and you joining us today and everything you guys are doing. i know you have movies on st. francis among a lot of other free resources so people can reach out and find those thanks for joining us. >> god bless you both. >> and you closing bell has to pick up after that that's a tough act to follow >> that's a spiritual note and

this really is a spiritual test for everybody, whether you've been affected directly by this illness illness, it is a spiritual test, of the will and spirit thanks for watching our breaking news coverage and we continue now into the last hour of the trading day with the folks at closing bell >> thank you hard to follow that, indeed. welcome, everyone, sara here with mike. stocks are coming back in a big way today. sectors like retail seeing their best day in over a decade. let's look at what's driving the action higher on wall street new data from the state of new york and around the world showinging the spread of the virus may be leveling off indicating extreme measures may have begun to have an impact encouraging signs of progress on both a vaccine and treatment options over the weekend, but there are more warning signs