trade? >> slack broke out above 30. stay long. >> steve weiss >> insiga. >> brenda? >> waste management. an essential service also poised to benefit from the recovery. >> megan >> we're trimming reits. we see them as a high beta play. >> thank you very much tyler matheson picks up the breaking news coverage right now. dom, thank you very much good afternoon, everybody. i'm tyler matheson in studio today in for kelly evans today we expected the worst but seeing it in black and white still gives you pause. a record 20.5 million jobs lost in april and an unemployment rate at levels not seen in decades. the markets not looking in the

rear-view mirror, however. this week is dow up 2% the s&p more than 3% the nasdaq more than 5%. stocks are heading higher as investors focus on the prospects of the economy reopening over the next few weeks we'll speak with the labor secretary all of it but first more on the markets with my friend bob pisani. bob? >> tyler, always good to see you. the numbers were terrible and yet the market is choosing to believe a narrative that the reopening is going to go fairly smoothly and why we're up and makes people crazy with the terrible job numbers to see. we are right near the highs for the day and the week right now that is powerful rally let me show you the s&p 500 because we are on the verge of breaking out we have been in a range for a while now. 2939 the old close an approaching that and then we get all the way back into march in terms of getting high than that. keep an eye on the last few days

and a fight over the reopening narrative. going well or not going well today the market is choosing to believe that the reopening narrative is going well. so here's the stuff that gets killed when the story doesn't work hertz, wy 234n, united, royal caribbean, all up on the belief that the reopening is going to go fine. i want to mention stay at home stuff is continuing. people buying into the stay-at-home story not just amazon. stitch fix and match group and e ebay and twitter don't kid yourself we have said it all week it is mega caps. google, apple, amazon, microsoft, up 4% to 5% this week and said many times when they're up 4% or 5% the market is up regardless of what the rest of them are doing. >> have a great weekend. let's take a closer look at the historic jobs report, not a good

way. steve liesman for more hi, steve. >> tyler, yeah, the coronavirus economic shutdown causing a historic 20.5 million job losses in america as well as a post-war 14.7% high in the unemployment rate more importantly, though, sparking an immediate debate as to whether or not this is the bottom of the abyss or do we have further yet to go down. some data argues both ways 20.5 million losses. 14.7% unemployment rate. average hourly earnings, up 4.7% the low income workers in the first round of firings many of them, some of them, 6.4 million dropped out. on the other hand, goldman sachs pointing out temporary layoffs of 18 million with temporary layoffs and people think they're going to be called back to the jobs tend to be quicker labor

market rebound by sector, exactly where you would expect the pain to be felt leisure/hospitality, 7.7 million. education/health 2.5 million retail 2.1 million manufacturing 1.3 million jobs lost some commentary bmo calling it the jobs report from hell. john ryding said we wouldn't be surprised to see a big employment bounce in may with the reopenings of bob talking about. however, ian shepherdson said catastrophe enumerated we expect a further net drop in payrolls in may. joe brusuelas said the first cut of estimating the damage of the u.s. labor market understates the true shock that the public is absorbing highest unemployment rate by race or ethnic group women hit harder than men.

tyler, i found one area of job growth couriers and messengers up 1,800 jobs. >> amazing steve, thank you very much steve liesman reporting for us today. the numbers as he detailed and you have been watching all morning is quite grim and a positive sign could be this, 78% of the lost jobs as steve referenced are temporary layoffs or furloughs joining me now with more on the numbers and the road to recovery is labor secretary scalia. welcome. good to have you with us we'll get to the furloughed numbers very part of this but first, i think the basic question most americans want to know is, is this the worst we're going to see >> well, it's bad. first of all these are very difficult numbers for us to see and this is an exceptionally difficult period for the american people, for workers, the families. these numbers reflect it,

confirm what we knew about the challenges we are facing as we deal with the virus as we have in terms of the road ahead, very fluid. we know that there were more job losses in early maapril may but people are going back to work so there is a path ahead that's out of it, a path out of this. we know what that path is. and we've started down that path but it's critical that we do so safely. >> as we look at these job losses piling up, maybe, just maybe, if we're lucky there won't be another job with 20 million job losses but that doesn't mean necessarily, does it, mr. secretary, that then employment rate couldn't bump up beyond this 14.7% and even bump up considerably? >> it could go up. there are ways of looking at this data where the numbers, the real number is higher than the

14.7%. but i think what's critical here is that these numbers tell a very different story than the kind of number that is we have looked at in the past during a difficult economic period. first of all, because this was a choice we had to make to idle the economy to beat the virus. we came into this by a very different route. that's why we see millions of jobs suddenly vacant but i think analogizing to past economic challenges is not going to work so well here and i have a chart, we talked about the temp jobs. this is the page in our jobs report today that most leaped out to me. i think your producer has it and the red line in this chart is the temporary unemployed nearly 90% of the unemployed this past month believe that their loss was temporary

the challenge to us now is to make good on that expectation of the americans who are out of work to -- >> boy, you can -- you can say that again because if people are -- and that is an amazing hockey stick kind of chart there as you see people who self describe as being furloughed they expect to go back to work but there is no guarantee there, is there, mr. secretary, that those people who self identified to be furloughed will be brought to work? i raise the following of a restaurant owner to reopen nearly 200 restaurants in 10 different states, operating at about 25% of capacity. he sees that people just aren't coming back. they're still gun shy of going out and if those customers don't come back a lot of those furloughed workers in the hospitality industry may be permanently unemployed, right? >> this is why as we enter the

reopening to do so safely. that's been important for us at the labor department to assure safe workplaces but customers want things to be safe, too. if we do the reopening correctly people will gain confidence. we know some of the jobs will come back very quickly we lost 1.4 million positions in health care last month we know that those jobs will come back. they have to come back and so i think a lot of these jobs that are shown as lost jobs are jobs that are there, waiting. and the task now to safely bring people back. the president had news a position where the economy was just roaring through february and so we know the policies to get us there and what we want to do now is safely bring people back to work, keep the policies in place of tax cuts we had. reasonable approach to regulation and get that economy humming again. >> i'm enjoying the

conversation honestly i am. coming back jobs in the medical profession is one thing. coming back in hospitality is going to be another. >> will take longer. >> it will take longer but let's pray that that chart is right and that those furloughed workers actually are going to come back let me cover a couple things because you talked about bringi bringing workers back safely earlier this week you and afl-cio leader had tart responses that osha extend warnings or prescriptions having to do with airborne risks in the workplace. could you tell us why you responded the way you did to him and why you disagree with what he is calling for? >> osha which is the occupational safety and health administration part of the labor department is focused on covid-19 in the workplace extremely early on providing extensive guidance i think we have nearly 20

different documents out now providing guidance, very focused now on safe reopening in a variety of industries. we also have enforcement tools that if we have to we'll use in the case of companies that aren't keeping workers safe. very important to us we have a disagreement about the exact means to proceed here. we think the plan we're using guidance, enforcement if we need to, is right approach. i think what's a mistake is some people out there, former obama administration people, saying osha isn't doing anything. that's just flatly untrue. osha staff are working extremely hard to keep our workers safe. american people need to know that so do american business owners they need to know how seriously we are taking this. >> along the same lines as we talk about reopening the economy, earlier this week the administration sent back basically for further review some guidelines promulgated by

the centers for disease control and the reason sent back is regarded by some i gather as overly prescriptive. were you a part of that review decision and did you see the guidelines and what did you think of them >> i'm not sure exactly what particular document is being referred to there. obviously there are documents being passed among agencies for review all the time. that's an essential and healthy process to make sure that all the different perspectives that bear on a safe reopening are considered so i think you'll continue to see important documents coming out from osha, from the labor department and the cdc on how to safely reopen. two weeks ago we cooperated with the cdc with the important guidelines, for example, on how to make workers in the meat packing plants safe. >> let me make sure i understand you are not certain which cdc guidelines i'm referring to and you weren't part of the decision

to send them back or to stall those guidelines in any way? >> i see a variety of documents. i have seen a variety of documents including cdc, not my job to comment on particular rumors of leaked documents and the like but a healthy process there to make sure that we communicate just rightly to the american people. >> finally, mr. secretary, two questions that are i guess very related. what happens when the ppp money ends it is supposed to be paid out by june 30th. at that point, what happens? number one number two, and this is one of some controversy i have a niece who worked in radiology in hospitals out on long island and she says that she's still working but she is earning a lot less than people who were laid off and furloughed and are collecting unemployment benefits including the $600 federal supplement there is not an inducement for them to come back to work. is that a problem? and if not, why not?

>> the president and congress acted so quickly to provide relief to american workers during this pause in our economy of ppp paycheck protection program as you know is one part of that. i think it's an enormous success with i believe 4 million loans now made through that program, tens of millions of workers getting the benefit of it. we'll see where we are as the end of june approaches i think we will have made significant headway in the reopening by then. the second issue you raise with respect to the unemployment benefit, very important to the president to provide that extra $600 a week in unemployment payments for people who are having to leave the workplace for the national health right now. but it's important for people to understand that if there's a job available for you then that benefit is no longer available you can't quit a job in order to

get unemployment and similarly as we reopen and safe and healthy workplaces are there we want people back in the workplaces. >> in other words you can't refuse to go back to work if the job is available to you and retain that $600 benefit >> that's right. if that's a job that you can go back to and, of course, go back to safely, then you can't remain on unemployment insurance. we have discussed that with the states that administer these programs they understand the importance of the integrity of this program and also of bringing americans back to work and our inspector general at the labor department will also be looking into whether that aspect of the program is misused. >> i'm sure you can see why some employers are concerned that there is a disincentive to return to work because the unemployment benefit pays them more, for example, in many hospitality industry jobs than they would have made on the job. >> that does happen in some

cases. and it is an issue to keep an eye on, totally understood we are focused on it we are helping the states focus on it. but again, it's so important, also, to be providing that safety net to workers right now. >> mr. secretary, we thank you for your time. we appreciate your efforts today on a day that we will all remember and i'm sure you will, too. thank you very much. >> thank you my pleasure. >> all right we have some breaking news in the oil patch the rig counts dropping to historic lows. dom chu has the numbers. >> total rig counts in the u.s. with oil and gas according to baker hughes this past week fall by 34 to 374 that breaks the old record set back in -- historically, oil on the other hand down 292, lowest since september of 2009. nat gas rigs down one overall and the eighth straight week of

oil rig drops. it's certainly putting some pressure on prices to the upside you can see there wti crude and brent up on the day. back to you. >> thank you. stocks are surging amid historic job losses. if investors aren't worried of today's report, then what factors are they looking at to make decisions that is next from who's hiring for which jobs and where in the country the ceo of career builder with join us with the trends she's seeing. and amid meat shortages and supply chain concerns plant based meat is flying off the shelves. ceo of impossible foods to join us for an exclusive interview on what he sees in store for his company and industry we'll be right back. this is decision tech.

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welcome back, everybody. stocks posting strong gains despite the jaw dropping loss of jobs in april. noted market watcher jeremy siegel explains why he thinks it's happening earlier on "squawk box. >> i'm following the announcements less because it's the rear-view mirror getting up in the morning i check the virus death. that to me more informs what is going to happen in the future than getting a historical report on how tragic this virus has affected our economy i do think that the march low is

definitely going to be the low >> and here with reaction is ryan dietrich and rich weiss welcome to both of you rich, you say that equities are an especially risky proposition right now. why? >> well, basically valuations are a crap shoot earnings estimates right now we are shooting in the dark so it's very difficult to tell at a stock by stock level or even at the market level what we're buying right now the better values are in other markets. fixed income potentially reits, et cetera. right now for equities it is a crap shoot because essentially you oar betting on the coronavirus, the path and trajectory of the coronavirus is going to be critical it's intimately intertwined with the recovery in this particular economic cycle and therefore corporate earnings so unless

you're an epidemiologist, i'd be real careful of picking stocks in here. >> let me get your quick thought on something i don't know if you heard earlier today, jeremy siegel said not necessarily in the short term, you think fixed income is an attractiveness right now. he said in the long term mark my word, the bull market for bonds is over, period. it is -- the interest rates ultimately go up, inflation is going to go up and partly because of the liquidity put in the system you agree or disagree? >> interest rates still can go down so i guess i'd have to disagree and even with inflation potentially going up, which i wouldn't argue with, there is still segments of the fixed income market which can be very profitable due to mispricing we have tips for inflation protected securities

you know there are all sorts of way to profit in the fixed income market even with rising interest rates and inflation. >> ryan, let me turn to you. the market today not exactly cheering i think is too strong a word the unemployment report nobody cheers those kind of numbers because those are real incomes and real job lost but the market does seem to be looking forward not backward, right? >> no doubt, tyler first off, thank you for having me back. i was on with you middle of april saying, listen, the market's a forward-looking mechanism. we have the stimulus the economy is in a terrible recession and stocks telling us better times could be ahead and what happened with this massive rally. the headline, terrible over 20 million people losing their jobs yesterday we had over 317 thousand tests of covid-19 that's 55% more than the week before okay the more testing we have the better off we're all going to be and the fact that's happening,

almost exponentially is a small sliver maybe why the market is optimistic about this. i agree with rich. i said stocks are going higher in the very near term we are more cautious. up 31% from those lows we are in the terrible sell in may go away. look at last year, tremendous year and may and june troublesome and the next couple of months after the rally we think from a tactical investor a better pitch to swing at here soon. >> nasdaq positive for the year. i wouldn't -- if you ask me that four weeks ago i would have said impossible but it's happened gentlemen, thank you very much have a great weekend stay safe. we appreciate your time today. coming up, this device just got the go ahead from the fda in the right against coronavirus. we'll hear from the ceo of the company that makes it live with how it works ahead. the path forward for retail. forget in-store experiences. it is about getting people back

in the store and comfortable both cust mores and stores this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

[and rachel get done before nap (time is over? how much banking can matt within the wells fargo mobile app... rachel is depositing a check without leaving their home. matt is sending money to his parents with zelle. (rachel) [whispers] have you seen my debit card? (matt) [whispers] no. (vo)(matt) [whispers] rachbabe. turning off her mid (vo) and turning it back on again.

(rachel) she's up. (vo) bank from the comfort of your home with wells fargo mobile app. wells fargo. welcome back now to the very latest, we go to sue herera on the latest on the coronavirus. hi, sue. >> hello, ty good afternoon, everyone one of vice president mike pence's staff members has tested positive for the coronavirus just yesterday the vice president was criticized for not wearing a mask while delivering protective equipment to a virginia nursing home. this is the second person who is part of the white house team to be diagnosed with the virus. new york's governor cuomo striking a more optimistic tone today saying that state is no longer playing catch up with the virus. >> we're finally ahead of this virus. right? for so long we were playing catch up we have the beast on the run the's no doubt about that.

we haven't killed the beast but we are -- we are ahead of it. and right now new jersey governor murphy is briefing the press. we'll bring you the latest on that later today you can get more on the coronavirus coverage by heading to cnbc.com. ty, back to you. >> great to see you almost in person. >> i know. right? we are socially distancing and at least at the same studio. >> nice to be back in the same room. >> great to see you. all right. our next guess's company received an emergency use authorization from fda this week for the product to be used the monitoring of patients with covid-19 here to explain what it is and how it works is peter van nouro vital connect. peter, welcome good to have you with us tell us about the product which is a monitoring patch that can tell remotely lots of things about among other things my heart. >> thank you for having me and a pleasure to be here.

first and foremost, we were a silicon valley firm where technology meets medical device and really since 2011 we have been inventing a bio sensor that ultimately takes the observation capabilities of an icu and we miniaturize it down to a bio sensor about the size of a dime. and this dime-sized bio sensor is housed in a patch affixed on a patient's body over the heart and therefore we can monitor the patients remotely back to a command center anywhere in the world. so essentially what we're able to do is quarantine covid-19 patients safely away from health care providers and other members of society that are not covid-19 positive and provide them with the observational care they would otherwise receive in the hospital ensuring that we're watching for signs and symptoms of deterioration and if the

signs and symptoms accelerate to the point they need hospitalization we can get them to the hospital quickly and the care they need. >> this is not for a hospital setting but for people outside of a hospital.e back and who receives the notice that there may be a problem, athial fibrillation or something like that >> the information is collected at the patch, it is sent to a relay either a tablet or a cell phone, samsung tablet or phone and that information is sent to a cloud. an amazon protected cloud. from that cloud we can provide the access through a website where any health care provider can access that information from the hospital, the comfort of the physician's office or really anywhere in the world they are as long as they have a pc. >> so if i were having some sort of cardiac episode that would show up on a provider or a

monitoring system's device at the other end and either call you or call 911 if the circumstances warranted it this i would gather is of particular interest for those individuals who have been or have been treated with a hydroxychloroquine or chloroquine which is the anti a anti-malaria drug and also comes with some coronary risk, am i right on that? >> that's right. is reason we received the emergency use authorization is for two reasons. number one, we are remote patient monitoring technology that has the ability to monitor temperature, number two, the patient's respiratory rate covid-19 is largely a respiratory virus. thirdly, the important sb-02, the level of ox in a patient's bloodstream so we can measure the signs and symptoms of

covid-19 however, we all know that hydroxychloroquine is a well used drug throughout the united states and what the side effect of hydroxychloroquine happens to have is what's known as a prolonged qt interval. that's a fancyname for an irregular heart beat and many patients that are given this drug are at risk for a serious irregular heart beat that could be fatal so we're the only technology available in the medical space that has the ability to monitor the signs and symptoms of covid-19 and simultaneously monitor for a lethal arrhythmia or irregular heart beat that hydroxychloroquine or other types of drugs that is used to reduce the signs and soim toms of covid-19 could put a patient at risk for. >> good luck with the product and thank you for your part in fighting this pandemic we appreciate it peter van haur. >> thank you. americans are asking, where's the fake beef?

plant based meat started the fly off the shelves as the u.s. faces, yes, a meat shortage. poib fdslk to the ceo of imssleoo of that one next see you in a minute. (soft music) - [female vo] restaurants are our family. the cornerstone of our communities. and our family needs help. right now they're facing a crisis. and they're counting on your takeout and delivery orders to help them through. because if we don't treat restaurants like family today.. they might not be around to treat us like family tomorrow. grubhub. together, we can help save the restaurants we love.

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- ( phone ringing ) - get details on this state program visit right now or call during business hours. welcome back to "the exchange," everybody let's get a check on the markets and the big movers with dom chu. >> the dow, the s&p and nasdaq up around 1.5% or so and at the high the dow up around 390 points s&p up around 43 at the high points those sector gains are being led by energy, industrials and consumer staples. you can see real estate, technology and health carechk oh

are higher after mixed results with a wier than expected loss but better than expected total revenues driven by strength in its uber eats food delivery service. shares of roku lower down by 6% after a big rally in that stock over the medium term after the streaming video device maker matched expectations on sales. and we're going to end on shares of disney higher helped by news the reopen the shanghai disneyland park on monday to a sold out crowd albeit one that's capped at 30% of total capacity. still some optimism about parks reopening for disney. >> a hopeful sign there. thank you. before the coronavirus pandemic retailers were spending big bucks for in-store experiences. now they're struggling to get both cust mores and workers back in the store at all. courtney reagan has a look at

the path forward for retail and the new paradigm i think it's no exaggeration to say that the experience economy has a long, tough road ahead of it. >> reporter: yeah. i think we can kind of forget about that investment in the in-store experience. retail's new job to convince shoppers it is safe to come inside make sure to manage the fear and oh while they're there, enforce the new policies by the way. so surveys show a high level of fear among consumers about in-store shopping. they report shoppers making quicker, fewer consolidated trips. kohl's adding a greeter. macy's, kohl's gap, asking workers to hold tried on merchandise for 48 hours and police social distancing, there's plexiglas at checkout. macy's said so far everyone is adjusting well and its survey work shows that customers feel

confident in the new health and safety standards but, tyler, retail employees didn't take on these jobs to sort of be in-store police. and to enforce public safety measures this is a big ask for a lot of these workers. >> all right thank you very much. and for more on the path forward for jobs, and what industries and companies are doing the most hiring in the pandemic, i'm joined by an rena novoskevi. >> hi, tie already. >> some companies are hiring, like amazons, home depots, the walmarts are there some unexpected ones out there, as well >> there are several unexpected ones especially over the last few weeks to see people talk about health care being a big beneficiary of the covid crisis in the sense of keeping jobs, looking for jobs however we saw some of biggest declines in noncritical health care and for the first time in

several weeks with a lot of the states opening up and yeeasing restrictions, we are seeing growth in covid tracers. you might wonder what that means. companies an mu nis palties and governments looking to understand if somebody has covid who they interacted with, where did they go and really trace their steps. and then the ones that we have continued to see over the past few weeks really hold steady surprisingly has been in the financial space, mortgage brokers, anything having to do with really a loft refinancing, buying homes we have seen a lot of brokers maintain a healthy appetite for hiring. >> i see in my top note industries hiring include administrative and support and waste management second is the retail trade and would shock almost anybody but i have to guess, irina, what's described there are retail trade among those big companies that are hiring

in other words, the targets, the walmarts, the home depots, the amazons because if you looked across the broad swath of the retail trade i cannot believe that retailers are really hiring unless it's in those states where things are reopening slowly. >> it is both, tyler the "today" show the cvs, walmarts, targets. they have been hiring consistently with truckers and delivery people who deliver workers been looking for however, a thing that we have seen really change is the unemployment number of course shocking with giving away a ten-year job growth in a month an seen from a perspective perspective is with states opening up for the first time in weeks we are seeing job postings grow in a few states and in pennsylvania and kentucky and california, in illinois, it's not positive obviously but actually just inching towards less negative and the u.s. for

the first time across the entire country the rate of declines slowed to 2% and the result of that is with these states opening up exactly like you said, looking for retail workers to come in but, tyler, they're having a lot of trouble because of the benefits of unemployment today that a lot of these workers that don't have a work from home option they're better off financially and from a health perspective to stay out of the labor force and stay on unemployment. >> thank you so much the ceo of career builder. appreciate it. still ahead, kroger, america's largest supermarket chain, getting in on the fake meat craze and partnering with impossible foods as americans snap up these products in the face of a meat shortage. we'll talk to the ceo of impossible about that next. we'll prove that it is possible to do that. the canceling of professional sports in the u.s. left media outlets without key programming.

r os the return of sports means fothe companies an how they'll look coming up

welcome back to "the exchange," everybody glad you're with us. as americans are facing meat shortages because of processing plant shutdowns, kroger recently announcing it will start selling impossible foods burgers in 1,700 of the stores. we have a little bit more on that >> hi, tyler good the see you impossible foods inked deal with kroger to get the burgers into 1,700 of the company's stores bringing the total to 2,700 retail stores in the u.s., those stores including safeway and fairway. impossible expects to continue the expansion to more grocers in the pandemic and impossible foods lags beyond meat at 77,000 restaurants and retailers. beyond retail partners of

kroger, costcc and walmart and the largest channel is restaurants, the products at 15,000 eateries, many of which shuttered because of the pandemic joining us is impossible foods ceo pat brown. pat, great to have you with us want to start by talking about the meat shortages grocers are rationing the meat products are you seeing demand for your products going on an uptick? if so, will it cover the losses from the restaurant business >> well, first of all, actually, our restaurant business definitely has been hurt by the covid outbreak although not as badly as the industry at large in part because the number of our customers have a significant drive-through business and also a lot of restaurants, we have been helping them to weather the

crisis in the major sit-down business by helping them actually sell our product directly to consumers and that's the hundreds of them doing that and quite successfully but yes right that the impact on the restaurant business has been counter balanced by surge in retail sales for us and just in general. >> your deal with kroger represents a 18x increase in your retail footprint but still we mentioned beyond meat has partnerships with the likes of costco, target, walmart. what is your plan of going after those big box retailers? >> i'm sorry i couldn't hear your question. the sound got cut off. >> sure. we're talking about beyond meat already at target and costco

what's your plan in going after those big box retailers? >> we are just scanning -- started a -- yeah. for sure we absolutely are in conversations with all of that category of retailer and we are going to have a -- over the next several months and throughout the year we expect that the end of the year that we will be in well over 20,000 retail outlets including some of the outlets that you mentioned >> all right pat brown, thank you so much with impossible foods. great to have you with us. tyler, back to you. >> thanks very much. we are sorry we didn't have little better audio there. still ahead, what will the path forward for pro sports look like empty stadiums temperature checks daily testing for players?

plus, as we head to the quick break, look at the covid-19 index of jim cramer to track the stocks seen as market bright spots in the challenging times. it is having a big week climbing nearly 7%. ckng wl rhtilbeig ba (soft music)

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welcome back the nfl announcing its full schedule last night. my son was thrilled pending that the start of the season can be an on time start while the nba and major league baseball are readying their reopening plans however tentatively. we have a look at the path forward for prosports. >> that's right. tentatively, that's the key word the nfl 2020 released last night is based on everything going

back to normal by september, if you can believe that big matchups featuring star players and marquee teams help kick off the first two weeks of the year it comes one day after schedules issued guidelines for how teams can reopen to players and employees. other sports are trying to get ready. the nba is starting the allow teams to open their facilities for workouts and major league baseball could have a return to play proposal by next week baseball teams are encouraging players to get ready for spring training to restart in june and the season to hopefully start in july there are signs from across the world that starting to play again is doable. germany's top soccer league will play games begun next weekend and the korean baseball organization has begun play in the last week. as far as the nfl goes if for some reason games cannot start in september, the league could take the first e few weeks of missed games and tack them on

onto tend of the season. for now nfl commissioner roger goodell has warned teams to not speak publicly about their own hy hypothetical ideas >> fascinating we're hearing plans about when disney will reopen welcome. as i mentioned, and eric will participate as well. as i mentioned, my son was thrilled he was going game by game through the giants schedule for this year. do you really think the nfl can open in early september as planned? >> i think flexibility is the key. obviously, it will be determined by local governments and medical

experts. you can see there's a pents up demand people want sports back on tv. >> it's true media companies need sports, don't they if you look at a company like espn, it's not just football they've got basketball, baseball, college football as well as pro. they need it >> secondly, it drives ratings and it's a platform for other programs lastly, the advertising revenue is significant and sports generates affiliate fees for cable operators. companies like viacom, comcast. these companies depend on sports programming to help their business and it's an important element. that's why they spend billions

of dollars for sports rights because it drives their business >> george can i jump i know the commissioner said i don't want you giving hypothetical plans but you talk to the team owners what is their sense of what they are thinking are we really starting in september or will we have to think about the superbowl that's much further down into the spring rather than the winter? >> i think about this every day. i think it will evolve over time anybody in sports has to have a plan a, b, c and d i think with the nfl you see out of the gates they said we have four weeks we could push it back. we could push the superbowl back i'm confident they will do everything they can to play and play in the game they will have various contingencies depending on the

situation. the two that are most immediate, the nhl but he's talk about the nba and major league baseball. do you think the nba will resume its season and if so when or will they just erase the rest of the regular season and go right to the playoffs. what's going to happen with the nba and mlb? >> the nba is meeting today with the players' union to talk about that will they have a regular season or go back to playoffs, and if so, when that's being driven by significant television revenue that's in play here. i think the nba would like to come back and time will play out whether they do. on baseball, again, i think as eric reported you're looking at june spring training july, possibly playing that's more of a live gate sport

so they will need to be concessions financially by the players for that to be a viable opportunity. lastly, the sport that has something interesting is golf where they will come out in mid-june and have full fields for four to eight weeks. essentially, major tournament every week i think that will be quite interesting. >> eric, you have anymore questions. >> my last question for george is thinking about what they said with college football. this is not about the sports deciding when they will play it's when the colleges decide they will be open. we have already seen talk from the penn state coach saying i want to play even if other colleges aren't open what are your thoughts we might see a partial schedule of football because some of the schools are open and some are not. >> it's more complicated with college sports it's so vital to finances of all athletics. do you think about the 65 teams, it's 50 to $150 million per team that's generating revenue nor the football program that's roughly between 3 and 9

billion dollar let's pick five to seven billion dollars. that money is important. i think they will play late, a full season or a conference season or look at the spring i think they will get college football in. it will be tricky because they play in so many more sports. they'll have to work closely with the local governments that will create scheduling challenges that they will have to adapt to. i know everybody is working hard to get the season in >> thank you very much we appreciate it coming up, path forward at how states start the reopening proce process. we'll get a live report from california plus what does the future of retail look like the head of kimco realty which owns 400 shopping centers in the u.s.

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welcome back our breaking news coverage of the market starts now. stocks rallying today. the dow up about 300 points. the nasdaq, the real stand up here up 5% this week alone. that is despite today's historic jobs report showing a record 20 million jobs lost in the month of april we'll have more on that. >> where is my kitchen, everybody? could we put a fireplace in the monitor behind me. that's my only request welcome, everybody to "power lunch. good to be back in