. treasuries saying it will, quote, grow in the week. sto stock futures not responding oil at $15 a barrel. >> president trump pushing against georgia's plan to reopen the economy as soon as tomorrow. >> is the supply chain at risk another facility closing down. >> another airline trying to slow cash burn by issuing more debt will it help when 97% of us are no longer flying >> staying fit at home while we

are stuck at home. one on one with lindsay vaughn you are watching "worldwide exchange" here on cnbc >> welcome from wherever in the world you may be watching. i'm brian sullivan it is early but looking like yesterday could be kind of a one and done for the equity markets. stock futures are flat to slightly down. that benchmark index still down 3% for the week. nasdaq down under 2% big tech has been outperforming as of late oil trying to stabilize after an incredibly volatile, record breaking week. we are at $15 and change on u.s. contract

slightly under $22 on international internationalal trade. yesterday, the president warning any u.s. ships to destroy iranian vessels that come close to them at sea and a regular lator that will shut down an oil well is not at risk of losing that well long term that may lead to more shutdown and decrease of production we want to keep a close eye on the uso etf. it has been halted a numerous time over the last couple of days normally, this would just buy the last month oil contract, the front month as they would say and roll it into the end as oil went negative, the uso had to change that formula on the fly.

now it keeps evolving buying different month contracts. you may not care but it is leading to concern over etfs being able to change the model on the fly something to watch on that uso let's move on now. there is a growing concern about a new round on the news. we had a mixed performance when it came to the markets we had a batch of bad data it came to the japanese and south korean markets we saw weakness in china and usa. let's tell you about what happened in japan. we had flash pmi out those were weak in the month of april to march it was services pmi plummeting

down to 22.8, which was the lowest since the market surge began. weak gdp number there's rising around 1%. contracting by 1.4%. better than the 1.5% that the market had been expecting. when you look at the year on year number. some big corporate stories on the year beating expectations with a 41% drop in operating. saying it was helped by pc demand and cloud services. people staying at home it did warn about the chip outlook. hyundai reporting a 44% drop on q1 profit. in singapore, we've now topped 10,000 cases that so-called second wave

that lockdown well and truly in force here >> matt, we thinking about you and yours. be well. back here, new tensions between the white house and the list of states looking to reopen their economy. atlanta waits to see what happens. rahel with us with more. >> president trump late yesterday saying he strongly disagrees with georgia governor plan to allow nonessential businesses like tattoo parlors, salons and more to begin opening tomorrow in coming days including texas, michigan and south carolina. not just the president, dr. fauci echoing what his colleague stated that the virus could become more prevalent in the

fall and winter. >> we will have coronavirus in the fall, i am convinced of that because of the degree of the transmissibility and the global nature what happens with that will depend on how we are able to contain it when it occurs. what we are saying is in the fall, we will be much better prepared to do the kind of containment compared to what happened to us this winter >> then tyson foods in north central indiana after more than 140 employees there tested positive after the company indefinitely suspended operations at an iowa plant critical to the u.s. pork supply more than 180 infections have been linked to that plant. we'll see how the fallout

affects the states and the president there. >> a lot of concerns now about food and those two major facilities rahel, thank you something remarkable and rely truly sad may happen. weekly jobless claims are out. if estimates are correct, it could show 4.6 million more americans have filed for unemployment if those estimates are correct or even close, it would officially wipe out all job gains since the peak of the financial crisis -- all right, so waiting on our guest right now. that number unlikely to move markets because markets expect it more to come on this thursday morning. we are back right after this save hundreds on your wireless bill

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welcome back to "worldwide exchange." it is 5:10 in the morning. let's get to your market playbook commerce play capital dorey with us the number showing more americans filing for unemployment wiping out the gains. the market has held up considerably well considering how dire the situation is. is that because we anticipate an

eventual reopening because of the treasury throwing trillions at the problem or something else >> i think it is a combination of a lot of things first of all, i still think the market is trying to absorb data on the virus itself. we have horrible data that's has gotten politicized the market can't figure out when we are going back to work and what is going on the market is trying to find a way to be optimistic they haven't seen enough bad data to absorb it. i think it is a little ahead of itself there will be more data that comes out of the next six months >> arguing the johns hopkins

tracker is the new economy number until people feel comfortable and safe, they are not going to go back out even when we, kwoek, reopen for you, dorey, what are you most closely watching to give you an economic guide post, if you will >> i think i've about decided that we can bracket the data i think you hit the nail on the head, personal safety is the key thing. dr. moin hand came out saying 150 million will be effected and millions dead. now we are talking numbers of 60,000 and half the dead, as tragic as they are, are not even being tested the data is clearly a lot more

optimistic than it was in march. these numbers, i think the market can deal with they are saying, let's go back to work. if we lose 600,000 people a year to heart disease, we either close down all the fast food or go back to work. i think that's what the market is trying to tell us >> it might be stocks go down because people sell really at the base of it, you know that. what is going to get people buying equities again? we had a decent run. the reality is that we are still down another year. what is it going to take for buying equities? >> the market is clearly getting a lot more support than it wanted to.

they are not really on sale. netflix is at an all-time high people have been buying. it is amazing how much support there is with the numbers we have if you wonder when we get back to where we were, we are talking about a u-shaped recovery. it may take a while. here even lower over the next three or four months and get back to work and get restaurants full and get the consumer spending again >> whenever that may be. let's hope sooner than later dorey, thank you for joining us. have a great day be well. be safe. thank you. on debt, the corporate backlash against zoom everybody is using it. the backlash is growing as the company looks to show up its own security trouble in las vegas

pushing back on calls to open sin city sooner than later and in new york city, the struggle facing hospitals in the nation's epicenter >> and trying to stay fit while staying home we'll speak to lindsay vaughn lending her voice to the cause to keep us healthy we have more to do right after this >> announcer: today's big number, 112% that's how much shares of chipolte have jumped from its 52-week w.lo the restaurant surged yesterday after posting a strong earnings report

welcome back let's get a check on some of the story talks. the company reporting better than ever first quarter results. actions were taken to protect themselves on the fallout such as halting its buy back.

shares of sleep number have been hammered down 56% in just 90 days netgear pulling guidance for the year it experienced supply and demand disruptions around the world sales focused on wi-fi and hot spots were set by focusing on sales. los angeles sands post a loss no surprise there. shares are a little higher as casino operator does expect business in asia to pick up in summer or early fall saying there is a lot of pent up demand for gambling outside of asia continued crisis in new york city where a new report is revealing just how bad the situation really was in one of new york's

largest hospital systems frances rivera has more for us >> that shocking new data out of new york's largest hospital system according to a new data published, roughly 88% of coronavirus patients on ventilators did not survive. the study conducted at the hospitals which serve about 11 million patients many of those hospitalized had preexisting conditions like hypertension, obesity or diabetes >> mayor bloomberg has volunteered to trace the people infected in new york state tracking the virus has been credited for limiting the spread in south korea and could play a role >> two house cats become the first pets in the country to test positive.

both in areas of new york state. both expected to make full recovery there is little risk of humans getting covid-19 from their pets >> african selling the pride and new york city parade, the mayor says the macy's july 4th parade will happen. finding ways to honor america. watching from your with indwind and balconies. it will be tough to watch from home when that day comes, we'll have a celebration of our own thank you very much. world champion skier lindsay vaughn will start an interactive

fitness class today on the health coach site. just about having something to do when we are all stuck at home during the coronavirus pandemic. >> during this time, it is so important to stay active and healthy. we are all kcooped up in our homes. we can still work out and be active partnering with wellness coach is a way to reach more than i could reach on my own platform i'm excited to work with them. it is a female founder julie is amazing what she's trying to do to share wellness on a global scale is awesome. i'm excited. i hope everybody loves the workout. >> okay.

let's talk about the workout i covered olympics and sochi wall sits and things that are impossible unless you are a world athlete. 20% going to meals on wheels so many are dealing with hunger now? >> i love meals on wheels because it helps the people most impacted, which is the elderly my grandma is in a memory care unit in wisconsin. this directly impacts her and so many other people in the united states i'm so happy that wellness coach is donating that 20% but this is going to be a very approachable workout i recommend, if you can, grab two cans of whatever food you

have available i'm going to be using two jugs of olive oil i'll have different exercises for different levels it will be fun we'll all workout together i hope everyone is going to enjoy it >> at this hour, i'm doing the 16 ounce coffee lift at 11:00 a.m. for a good cause. we weren't going to get her off without chatting about the olympics i asked her about the summer olympics being pushed back and as an olympian, how would she handle this kind of delay? >> i think this is such a weird time globally that everyone is kind of out of their comfort zone i don't think this will impact one more than the other. we want to perform at our best

it is a smart plan as much as it is difficult for the athletes, it is important to be healthy delaying it a year is the best decision i'm glad the ioc did that. >> that workout at 11:00 a.m. eastern. check out our interview with lindsey vonn on cnbc.com our next guest says do not bail out the oil industry. what delta airlines is doing to try to shore up its labance sheet. cnbc is back after this short break.

stocks trying to extend yesterday's rally as crude stages its own come back dow futures flat to slightly down but we have a long way to go we'll speak to one of the world's biggest oil tanker companies. the high demand to keep oil off shore. >> the president pushing back against one state looking to reopen their economy as soon as tomorrow the second round of small business cash may already be tapped out before it is even available. >> damage control for video

conferencing company zoom. more companies are abandoning the platform amid security concerns it is thursday, april 23, 2020 you are watching "worldwide exchange" here on cnbc good morning and welcome it is 5:28 on the east coast thank you for joining us i'm brian sullivan we are just a bit half way through the 5:00 a.m. hour stock futures not doing a lot. flat to slightly down. thinly traded at this hour this comes following yesterday's nearly 500-point gain on the dow and 2.3% on the s&p 500. we are still well lower for the week after monday and tuesday's hair cut down 1 to 3%. the big story this week has been oil. it remains in focus. the current month contract which is now thankfully june

may is in the requiarview mirro from the oil perspective watch the contract known as brent crude just under $22 a barrel for brent crude also keep your eye on the u uso etf. the biggest oil etf in the united states, four plus billion that has been halted a couple of times. the story has been dramatic. generally, a boring etf. it buys what they call the front month, the previous month. it sits there and rolls over to the next month that was the entire model. as oil went negative, everyone began to wonder, can an etf go negative it was forced to go back in and change its perspective instead of being able to buy one month, it bought june, july,

august out to september. leading not only to concerns about the oil market and the power of the etfs to change their model on the fly let's go now around the world. get the early trade in europe to see what is going on there julianna tatelbaum joins us from london >> good morning. here in europe, can you see the majority of regions are gaining ground the uk benchmark up about 8 basis points the cac 40 about half a percent higher italian market leading the way german index a little below the flat line. it has been a choppy session pmis for europe which is an indication of business activity in the region, that index slumped sharply. services contracting a new record low analysts are saying, for the

most part, this is probably the worst it is going to get let's look at the euro it took significant step lower you can see here slumping just before 9:00. it recovered a little ground as we'll see with the meeting later today. >> julianna tatelbaum, thank you. let's stay on what is no doubt the most important story in business that is keeping small businesses the from going under. the house is set to pass the second round of relief for small companies. even that, another $400 plus billion, may not be enough eamon, good morning. >> good morning. i'm told there is no danger here this bill might fail

they are going to add additional $310 billion to the ppp program that ran out of money quickly. here is how we know they'll be voting in the house of representatives. they can get unanimous consent they expect voting to start around 1:30. final passage not until about 5:00 p.m they'll add a new select committee to oversee virus spending they'll have this social distance voting in small groups by last name on the house floor. in between, they'll have a 30-minute recess to clean the chamber. a lot of these members are elderly and in the so-called danger zone for covid-19

there are real concerns here brian, they can't get that unanimous consent because enough object that they have to bring everybody to the floor should pass this afternoon >> those iconic photos of mitch mcconnell there with reporters about 20 feet away from him. we are following word from one industry group that the money set aside for small business relief, the next round, the one not even formally approved yet, is pretty much already accounted for and may already be exhausted based on the loans that have already applied for it >> yes some experts say not only will this go like hot cakes, which is the expectation that this $310 billion would go quickly there are so many in line with applications when the last round of funding ran out

those people who already have their applications in may be enough to exhaust this and there may not be any left for new applications if you are watching this today and think i better get an application in, it may be too late for you already we'll wait to see whether they can carve some out to make that a change but ultimately, brian, this could be a sad story for those who are left out >> it is expecting people to get over $1 trillion before all is said and done thank you very much. it was just a few months ago that president trump said america was in a golden era for energy dominance the next guest says bailing out the oil industry is the wrong move at the wrong time

megan greene joins us by phone a senior fellow at the harvard kennedy school why do you believe a bail out or aid for oil and gas is the wrong move for taxpayers right now >> caller: a lot of companies were in trouble when oil was at $50 a barrel with oil much lower than that, they are in even bigger trouble. throwing money at the oil patch, providing a bail out will essentially keep a lot of companies on life support. like with the agricultuo culture you get them off, they will fail i think we'll create a whole bunch of zombie companies and be stuck keeping them on life support. given limited resources and the huge demand, that's not a great

allocation of money. we should help all of the employees who end up being laid off in the oil patch as we should help out all in this crisis i don't think we should bail out the owners of the energy companies. >> it is going to help the people it is a story we have talked about on this network for years now. the debt threat. $222 million coming due. most in 2022 if they can't get their books in order when the fall reevaluation season for banks come around, we could see a huge number of bankruptcies in the fall here is the double edged sword the problem is that oil and gas is such a huge part of our macro that if it goes down, it could

exacerbate the pain. >> it could. we did see this in 2015, 2016 with the cause of manufacturing that some say brought trump to office a lot of the opportunity for production and productivity gain i think this would become much more efficient you are right. we'll have a lot unemployed but we have a lot unemployed anyhow. we should support those people, no doubt but why bail out equity holders of oil companies a lot were already in trouble before any of this started >> yeah. later on today, i'll show the decline already that is taking place in the oil and gas industry, megan. a lot of people saying, good fossil fuels are over already.

let them go. i'm not sure they understand the size and scope of some 10 million people directly and indirectly affected. i hear you about helping out the people is there some sort of happy medium here to keep things going dealing with something nobody could have predicted >> if there were a way of evaluating what companies were thriving before hand, then it is okay to bail them out just as we are bailing out small to medium healthy businesses to provide a couple of months of funding would be fine but i think providing an across the board bailout is a huge mistake. a lot of these companies had no cash on hand ever. giving them a bridge loan is okay bailing them out, bailing out

stockholders is not the most value for limited resources. >> maybe too big to fail, too big to drill a pleasure to have you on. coming up, ceo of the largest listed independent crude oil tanker company will join us with his take on the unprecedented surge on sea-bound storage. delta is $3 billion in debt. the company's cash crunch speaking to cnbc yesterday >> the reality is that we are in a cash preservation mode probably for the balance of this year we need to get our load factors back up to the 80% over time we'll walk it through. we have a lot of our capacity on the ground we have over 600 planes grounded

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zoom is upgrading encryption and offer protection against tampering. this comes a midst a growing list of companies including tesla, daimler, ericcson and others advise against the use of the app as security concerns begin to mount harvard rejecting the roughly $900 million in aid. las vegas workers rejecting calls from the mayor to reopen citing safety concerns union representatives say employees should only return when security is secure an employee adding, we are not test subjects.

>> we will discuss this off line talking about how huge alcohol sale have gone up and people talking about nips throughout the day. >> i know nothing about that >> not us. we are on tv every tank, every hole in the ground in america is filled with oil there is almost no room to store it tanker ship companies are reaping a windfall because producers are paying huge money to keep their store off shore. euro nav is one of the leaders joining us here, the numbers here we heard yesterday were

staggering the question is how long do you foresee these kinds of rates and the demand for your services and storage now lasting? >> thank you for inviting me we believe it is going to last as long as there is a discrepancy between the production and the consumption of oil the part of the oil at the moment is to find a place to be stored as you rightly mentioned, the land storage is full so people are turning to ships to store oil we have capacity of storing 2,000,001 million when it comes to more.

>> talking about the united states, we are seeing exports rise from the u.s. there is still a lot of oil out there. how long do you see oil staying where it is versus a sharp decline? >> the answer to that question is similar as long as the oil is cheap, people will store it at the moment, they are buying whatever they can get their hands on the oil price is very, very low. it attracts a lot of buyers. that is not only true for the oil but the oil coming out of the gulf the countries around there are bumping as much as they can. cuts earlier this month will not only take effect from the first

of may, so next week in the meantime, we are faced with a situation where there is not a lot of oil that gets refined into petroleum product because there is very little demand >> what are you going to do with all the free cash flow, all the huge contracts you are signing is going to put a lot of cash into yours and share holders wallets? what are your plans for the money? more new ships is. >> we have a very cyclical market, so we are very disciplined people we will return 80% of the profits we make on a quarterly basis. >> so we look at the number of ships currently in the ocean a lot of ships have been

scrapped that will come to a close because people need to see those ships out there. how do you see the ship market going? >> that's a dynamic situation. nobody wants to scrap a ship when it can earn money we live in a market with good times and bad times. in bad times, you see a lot of ships go to the scrap yard and being eliminated and destroyed so the supply shrinks by definition the other side of the story is the number of new buildings currently being built. that is very, very thin. it has never been as thin as it is today it takes about 18 months to build a ship. >> it is not something that can change tomorrow. go ahead >> i got to jump in and wrap it

up investors say, don't invest in tanker stocks because they are so volatile. what is your message to global companies saying maybe it is different this time? >> it is different for what i said there is a lot that could quickly scrap in the downturn. we are nowhere near the downturn when there is a downturn indeed, a lot of ships will go to scrap. we don't believe the crisis will belong lasting is that is something different than we've seen. normally, that is around 15% right now, it is less than 7%. it is looking good >> euro nav, the stock has looked good.

stock up 30% when this thing is over have us on one of your ships they are incredible. >> thank you on deck, tom lee will join us here. his take on the covid crisis and the wave of openings that hopefully will start happening and what that means for you and your money if you can't watch us on tv, check us out on the app any time dow futures up about 29 points we are back right after this feels like there's no barriers between departments now. servicenow. the smarter way to workflow. when you take align, you have the support of a probiotic and the gastroenterologists who developed it. align naturally helps to soothe your occasional digestive upsets 24/7. so where you go the pro goes. go with align, the pros in digestive health.

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welcome back this morning. 5:53 on a thursday futures up 16 points right now not making anything of that. except after monday and tuesday's decline, the volatility we have seen, any stability may be welcome

we have that 8:30 a.m. jobless number 4.6 million americans expected to report. tom lee with us. the sort of passive observers and some saying, i don't understand why we are talking about 4 million people filing for unemployment and stocks have held up reasonably well. last time i checked, there are 120 companies in the s&p that are higher year over year. >> i don't blame anyone. we are in that period of time where in a down turn of a cycle, the stock market starts to move ahead of fundamentals. i heard you mention jobless claims are going to be awful people are losing their jobs and businesses are shutting down

the equity market generally ahead of the economy since 1929, if you look at how markets behave, it is always bottom before the economy. even in the last three, it bottomed before it peeked. in some ways, the job market signaled looking ahead saying things aren't as bad what do you see? do you see a higher stock market in six months? >> yes a couple of things one, the covid-19 crisis does need to apex in the rearview mirror italy announced plans and germany when cases were down 75% from its peak. that could happen in a few weeks in the u.s the governors controlling this

process, controlling a framework that makes them comfortable. that would allow investors to price in support and how companies it provide uncertainty. so i think stocks are higher six months from now. >> you know, the cares act allows you to borrow against your 401 k a lot of people are tempted to dip in, sell stocks get some cash what is your advise right now? >> everyone does have to realize, everyone is uncertain policymakers don't have a playbook here. financial markets don't have to price something globally it makes perfect sense to be

nervous. if they are raising cash that is unfortunate. if people have to tap into it, it is a tragedy -- >> tom, my friend. we are out of time on a busy thursday morning tom lee, we'll get you back soon he says oc wl stksilbe higher in six months that's it for us today "squawk box" is next save hundreds on your wireless bill

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good morning stocks relatively stable as crude prices are surging from low levels we'll talk to the ceo of a major tanker company this hour president trump taking issue with georgia's plan to reopen.

morris being to the u.s. food supply as another major pork plant shuts down over the coronavirus pandemic thursday, april 23 now 020 "squawk box" begins right now. good morning everybody good to see you. welcome to "squawk box." i'm becky quick along with joe kernen and andrew ross sorkin. looking at the futures this morning. actually looking at things up a little bit green after we did see gains yesterday. yesterday, we saw the dow up over 400 points. we'll see what happens today right now, the dow indicated up about 33 points. s&