arnold donald. >>> we are coming right back, with the former ceo of barclays. bob diamond, who now runs atlas capital, on the rules of engagement for the ppp loan program. robinhood believes now is the time to do money. without the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. daddy, i found you! good job. now i'm gonna stay here and you go hide. watch your favorites from anywhere in the house with the xfinity stream app. free with your xfinity service. now any room can be a tv room. stream live tv, on demand shows and movies, even your dvr recordings. download the xfinity stream app today to stream the entertainment you love. liz: all right. jpmorgan putting a number on it. the bank is saying the second round of small business or ppp rescue money has processed, they have processed $18 billion worth of loan applications, but you will not see any hedge funds or private equity firms in that pile of applications. they are banned

carnival corporation ceo arnold donald sitting down exclusively with us here yesterday, gave us his outlookor the company. >> we have lots of people booking now for '21, some for' 20 still we'll have to see, you know, exactly how this evolves we definitely think we can get through, you know, the end of the year with that, with no revenues coming in we're not saying that's going to happen, but we want to be prepared for the worst case. >> i got to say, that surprised me they're offering either full cash refunds or credit and more incentives for future bookings to hear arnold donald say that 2021 bookings are strong, even with all of the negative headlines and the focus on the cruise lines, i mean, would you be a buyer of the stock? sorry i called you scott before. i knew a scott sosnick one time. >> it happens all the time basically, i don't know what motivates the people to be booking a cruise right now to be fair, i've taken one cruise in my life, didn't particularly love it, not at carnival, but i guess it's a much more resilient industry than i've ever given them credit for. there are pe

arnold donald. 4:00 p.m. eastern on "closing bell."out, of course that's an exclusive coming up later on cnbc. we're going to be rit ck ayitusghba >>> welcome back to "squawk on the street." i'm rahel soloman. nearly every s&p sector trading positive with consumer discretionary names among the best performers. so many of the stocks slammed throughout the crisis are staging a rally, including the cruise lines, all trading higher today. royal caribbean up more than 10% there. other companies that have been impacted by closures and stay-at-home orders jumping like capri holdings brands and gap. capri up 6%, kohl's 1% slate of hotel names, hilton, mgm and wynn, hilton up 4.6%, marriott 2.3%. worth noting consumer discretionaries off more than 14% from the february highs. back to you. >> all right thank you very much. meantime mortgage rates are swinging wildly amid the market volatility diana olick explains what it means for you. diana? >> it's something towatch. take a look at the average on the 30-year fixed over the past month up over 4

arnold donald joined us yesterday and said 2021 books were looking strong.of out of favor business investors should be looking at >> for me, i would look at a company like anaptive. they have an amazing ceo tied to autonomous driving tied to active safety. a lot of features in the automobile where active is aligned many years ago were like to haves and now they're must haves. i think a company like a carnival which i'm not involved with right now, think about the human factor are people going to be willing to go on cruises and what does it look like >>. >> did i lose you? i think i lost sound >> joshua, thank you >> i think i lost sound. >> a thousand or of the little book of investing. appreciate it very much. >>> i want to get to news involving the jedi contract that was awarded by the department of defense to microsoft but is disputed by amazon that's going on? >> well, that's right. the pentagon's inspector general has released the review of that contract which you said is being disputed by amazon it found that awarding the contract to a single company w

joining me now is arnold donald.much for the time it's good to see you we actually got that cdc no sail order extended so what is the status of your cruises are they all canceled until summer >> hi, good to be with you guys. our industry voluntarily and temporarily canceled the cruises even before there was a cdc no sail order that came out the first time and we originally had stopped took a pause in cruising through middle of april and the cdc updated their no sail order which was the earliest of three things, one of which include d 100 day postponement on sailing. so we'll see how that plays out. it could break earlier we'll just have to wait and see, but the number one priority for us is to be in compliance. we sail globally there's lots of jurisdictions that are looking at social gathering and when social gathering is acceptable again and people feel that the risk is manageable then we can look seriously at cruising again. >> do you think though that cruising will be good afternoon by the way and thank you for jo