>> thank you, rahel. we are at or very close to the highs of the session the dow getting very close to become up 700 points, now up about 650 following the fed's release of the march minutes not too much new news there. oil has been surging that's news today. and we'll have more on that in just a minute. plus, shares of fedex and u.p.s. are moving up after amazon suspended its third party delivery service they'll still deliver their packages, but not other other ps what's behind that move and whether that helps eliminate at nels thman. azo th'sext. ♪ ♪ ♪ there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why

rahel solomon is here with more. rahel? >> hi, kelly so with most americans under stay-at-home orders, many of the layoffs thus far were jobs where you interact with many other people for example, the retail and service industries but now the legal field, sales, even health care workers that do not assist with covid-19 patients are also seeing layoffs. research from oxford economics predicts that positions in ambulatory health care and professional and business services will be among the top five declines for april job losses economist martha gimble says few jobs are safe. >> people assume that certain jobs were safe because they could be done from a distance. the problem is that someone has to be able and willing to pay you to do that work from a distance and so now the question is not even whether or not you can do your job from home, but whether or not you're providing a service that people still want to pay for right now >> and kelly, for people fortunate enough to hold on to their jobs, well, gimble pointed out, they'l

steve is covering the latest and rahel is here with more on the corporate response matt taylor, we begin with you >> we did see a mostly positive session across the asian market. although a number of these markets are well and truly off the high point of the session. let's look at japan. we have had breaking news. the japanese prime ministe declaring a state of emergency in seven prefectures the aim there is to reduce movement by 70 to 80%. the government approving on the stimulus package as well this just crossing as well around $1 trillion the japanese market closed up already. it was around 2% before as we were getting these headlines out about the japanese prime minister shanghai after the break, it was closed for the public holiday. also in hong kong as well. look at south korea. this was helped by a jump in shares of samsung saying its q 1 operating profit above expectations analysts had expected around $6.2 trillion that helped push that out australia was the laggard. the reserve bank keeping the interest rates where we have cut them down to a quarter of 1% but adding that we have

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 o

i'm rahel solomon at cnbc headquarters. today's top business headlines. wall street looks set to open higher, investors assess the possibility of the global economy reopening after the coronavirus outbreak. the markets are coming off their first weekly decline in the past three and this is a record plunge in oil prices. stocks have been on a roller coaster ride. a sea of earnings. nearly 30% of the s&p 500 and a dozen dow components report results. we'll hear from a cross section of the economy including mcdonald's, caterpillar, 3m, apple, microsoft, amazon, pfizer, ford and tesla. >>> and the u.s. government has told banks it will cap how much each of them can lend under the paycheck protection program which reopens for a second round today. the small business administration will impose a maximum dollar amount at 10% of the program's funding or $60 billion per lender. banks have been bracing for another frantic race. the ppe came under fire after several publicly traded companies with thousands of employees and millions in annual sales got loans while sm

the death toll now surpasses 45,000 souls new jersey and michigan with higher numbers rahel with more now. >> the cdc warning of a second wave of the virus next winter likely coinciding with flu season which would put a greater strain on the health care system quest will begin conducting 19,000 antibody tests per day and hopes to double that number. the fda approves the first covid-19 test with an at-home sample collection. the tests will first be made available to health care workers and first responders don't miss more with labcorp >> and exceedpedia looking to s stake. seeing a drop amid the travel band joining cheesecake factory who earlier sold a stake as well back to you. >> rahel, thank you. when we come back. more on the historic oil selloff. the names your next guest could see as good bargain selloffs and backtracking in beijing. eunice yoon with her incredible reporting in china and why that country is having trouble reopening. and later on, the tiger king is king the latest numbers that have some investors' tales wagging. back with more after this. save hundreds on your wir

i'm rahel solomon at cnbc headquarters and here are today's top business headlines. wall street looks set to open lower this morning as investors continue to assess the coronavirus. opec and other oil producing countries reach a dale on a major production cut. oil prices dropped more than 50% since early march. after opec and russia failed to agree to cut output as the virus outbreak has sharply hit global demand and coming off one of their best weeks with the dow rallying due to hints of improvement in the coronavirus in the u.s. here along withmoun stimulus from the federal reserve. and speaking of gas prices, they continue to drop with fewer people on the roads. the national average falling 14 cents over the past two weeks to $2.01. prices are down 52 cents since the beginning of march as demand declines amid widespread stay at home orders. demand is at its lowest level since 1968. and goog sl rolling out changes to search results to make it easier to find virtual health care options. it will highlight more telehealth options which has seen a surge in demand durin

kari, back to you. >>> thank you, rahel. that's a great idea. >>> let's check out our high temperatures today. antioch, a high of 83 degrees. and on this earth day i'm going to break down how much carbon dioxide i'm putting into the atmosphere and how much less i'm doing now that i'm staying at home. we'll talk more about that coming up next. >>> and we are looking at one issue. over my shoulder i don't see any slowing on the sensors but a live look is coming up. there is a 35,000-pound ethanol tanker that you'll have to contend with driving through the tri-valley. - oh. - what's going on? - oh, darn! - let me help. here we go. lift and push and push! there... it's up there. oh, boy. hey joshie... wrinkles send the wrong message. help prevent them before they start with downy wrinkleguard. hey! bud. hey, pop pop! so you won't get caught with wrinkles again. [woman laughs] >>> and here we go for your wednesday morning, 4:46 for you. and taking a live look right now at the bay bridge from our emeryville camera, getting started

i'm rahel solomon at cnbc headquarters. here are today's top business headlines. wall street is set to open higher after stocks fell for the first time in three sessions yesterday as investors really remain on edge over the coronavirus outbreak. the nasdaq did edge higher bucking the trend, and that was helped by gains in big tech such as netflix and amazon and focus today, results from two big banks, jpmorgan and wells fargo as well as earnings from johnson and johnson. could give investors a sense of just how devastating this pandemic has been to corporate america. amazon and whole foods had been struggling to keep up with the surge in demand for groceries, and that's now leading to new measures to try to reduce shoppers' frustrations. amazon has introduced a virtual waiting line giving you a secure time to shop and also a delivery window on a first come, first served basis. other moves include changing hours to focus solely on internet hours and asking new customers for fresh and whole delivery to wait for invitations before they can shop. >>> and burger king i

kari, back to you. >>> thank you, rahel. we've been using that curbside delivery. let's see how we're looking today with our forecast and temperatures ranging from the upper 50s near the coast to the upper 70s inland. more changes ahead in the forecast coming up next. >>> and we're hoping for changes over in san francisco. one is because of police activity. there's a closure because of that. i guess the other is a closure. we know about the overnight activity. we'll talk about the improvements we see coming up. we're here for you and we're open. wow. i'm an original. one of a kind. you feel me? love ya'. oop! you look cute! better than you? pop my 100% all-white-meat classic or spicy popcorn chicken combo for just $5.99. my new bite-sized, crispy popcorn chicken is so irresistible you'll want them whenever, so don't resist! pop 'em while you game, hang, or do your thing. pop my 100% all-white-meat classic or spicy popcorn chicken combo for just $5.99. >>> on a wednesday, 4:45 for you, taking a live look at the san mateo bridge, traffic moving along this morning. no

let's get the latest with rahel solomon. >> there could be new snaps for the government's ppe programording to people familiar with the matter that the country's two largest bank, j.p. morgan chase and bank of america had a combined 625,000 requests for loans and $80 billion in loans as of tuesday and only a small fraction of that has been processed and paid out so far. we heard from kate rogers, our small business reporter that she's hearing from some of her small business sources that they're just now getting the application processed and we spoke to the ceo of a bank on power lunch who said just today he was able to get money out the door and according to cnbc.com saying the two largest bank, j.p. morgan chase and bank of america saying they've been able to disperse a small fraction of what has been created to help provide relief for small businesses so that's the update now it's a large program it's still very early in the process, but again, more snags for that program we've been hearing about that all week, brian, back and forth reporting from kayla tausche and reporting from aa

rahel? >> reporter: hi, kelly from new york to california, states are quickly realizing that they're running out of money. in fact, california now becoming the first to tap into the federal unemployment trust fund, requesting $348 million, although, federal data shows that they could request up to $2 billion. new york officials saying there that they've requested a $4 billion loan massachusetts, 900 million in may, $300 million in june. illinois, $1.2 billion connecticut, $180 million. so california now becoming the first to withdrawal those funds. wayne roman at the urban institute tells me that he expects ohio, massachusetts, and new york will also withdraw before july 1st. although michelle evermore of the national employment law project tells me no matter how positioned a state was prior to coronavirus, they will all likely need to tap into these funds, because the demand is just so great. >> and we're seeing it grow by the week, rahel. thanks >>> as the pandemic grips some of the nation

rahel solomon with more. >> good morning. delta, american, jet blue, southwest and at least five others have reached a deal with the treasury department. this is according to the grant approved and according to the largest aid package ever requiring airlines not to furlough or cut employees through september 30 carnival ceo speaking out about the future of the industry despite the global pandemic, customers have already started to book trips for 2020 and 2021. >> in the future, it will be travel to return travel and leisure when it does, we'll return with it social gathering will return when when it does, people will want to cruise. we have a lot booking for 21 and even some for 20 >>> major league baseball says 27 teams will participate in a study for antibody testing with the university of southern california this is the largest test to date confirming the study will use rapid antibody tests reporting that 10,000 employees from those teams have volunteered to participate >>> a big cross over between sports and health there.

kelly, back to you >> rahel, thank you so much. rahel solomon there. >>> some new numbers from the tsa show the coronavirus taking its toll on air travel just about 146,000 people traveled on a plane yesterday. 146,000. that's down from more than 2 million a year ago on the same day. earlier on "squawk on the street," treasury secretary steve mnuchin weighed in on what the white house is doing to help airlines >> time is of the essence. we will be doing this very quickly. these are going to be optional programs we're not forcing airlines to do these deals. we'll make these available to the airlines, if they want to take them, they'll take them i think, as you know, different airlines are different credits we've been very clear that taxpayers will be compensated for anything we do >> now, stifel isdowngrading two major airlines, american and jet pblue to hold from buy toda in a new note saying a worst-case scenario is playing out for the airlines american isdown nearly 12% today. jetblue down 9.5%. joe denardi is the manager who mad

tough numbers to process around the coronavirus here in the states let's get it all wrapped up with rahel solomon. >> good morning. so pfizer joining several other pharmaceutical companies saying they have accelerated the timetable. u.s. tests will begin next week and one could be ready for emergency use as soon as the fall pfizer is just one of the companies speaking with cnbc yesterday alerting investors of the progress and treatments developing at a rapid pace here is merck's ken frazier yesterday. >> we have been with collaboration with other people in industry and academics around the world. we have gotten into a position where we are focusing on some proven platforms the vaccine platforms we would have used with desirable qualities. we are optimistic and excited about moving forward with those programs >> president trump said, quote, the u.s. will soon run 5 million corona tests a day saying that is a requirement for opening the u.s. economy president trump signing an executive order compelling meat processing plants to stay open and protect food supply, this comes despite the covid

rahel? >> hi, kelly frustrated unemployed workers calling on cuomo of new york to waive the call or a requirement that some applicants have to first call before their processed and the application is processed. one twitter user check out the tweet telling us that she called at one point 1,000 times in a day still didn't get through another worker said she filed the unemployment claim on march 24th, told to call she is doing that 200 times a day since then also hasn't gotten through >> it feels like a nightmare and i don't want to deal with it but it is making me emotional. i didn't expect any of this to happen and, like, i was so proud of my job and it is just like i feel stuck. >> so we know that kansas and massachusetts have both reached out to aws enlisted support to both expand capacity and also sort calls as they come in so essentially when calls in sort them to the right department and hopefully get through the process. a spokesperson said they automated more functions so there's hopef

the united states is under a major disaster declaration amid the pandemic for the first time ever rahel solomon has more on the details. >> good morning. so, president trump, let's start there, pushing back against "the new york times" investigation claiming that he was warned about the potential for a pandemic numerous times earlier this year but internal divisions, reported lack of planning and, quote, his faith in his own instincts led to a halting response from a series of sunday tweets the president said "the new york times" story is a fake, just like the paper itself it was criticized for moving too fast when i issued the china pan long before most others wanted to do so secretary alex azar told me nothing until later and peter navarro's memo was same as ban, fake news. >>> disney will furlough 40,000 workers starting april 19th. adding, however, it will maintain health insurance and other benefits for up to 12 months a group of less than 200 workers will now remain on the job during the shutdown. >>> sources close to cnbc say macy's is tapping investment bank lazar to bolster the

back to you. >> rahel, thank you very much. >>> testing will be a crucial component to reopening the chi but access means very uneven ylan muoy has the latest. >> reporter: right, kelly. the debate over reopening the economy is a fight of who's responsible for that testing democrats pleading with the white house not to end the shutdown until there is widespread testing in place. house speaker nancy pelosi issued this statement on the president's fazed strategy saying that testing is key to opening the country to resume our lives. the white house's vague and inconsistent document does nothing for the president's failure to listen to the scientists and produce national rapid testing. now today white house economic adviser larry kudlow pushed back, defended the president's outline and said that when he talks to businesses he hears that testing is also about psychology >> they saw it as a way to achieve confidence among folks who would go back to work or go shopping and, you know and i really understand that >> now, congress has already allocated $38.4 billion for testing, treatment and

global health officials are now expressing some new concerns regarding recovered patients rahel solomonk at cnbc hq. >> the world health organization is warning that people who have already had coronavirus are not immune from getting it again that warning comes as governments around the world map out plans to reopen, as we just heard in the last block. the w.h.o. says the idea that one-time infection can lead to immunity remains unproven and unreliable >>> the world's top meat companies shuttering another top production facility. jpssa is making that move following an outbreak of coronavirus in the wisconsin beef plant, adding fuel to a potential meat shortage with 25% of the u.s.'s pork capacity and 10% of u.s. beef output offline. >>> and the nba is taking its first steps towards potentially resuming operations. the league on friday reopened team practice facilities in areas that have loosened stay-at-home restrictions. players, meantime, can return as early as this week. >>> formula one announcing it expects to start its season in austria the weekend of july 4th. that will be without

rahel, great to have you here with us. >> thanks, tyler >> and let's get right to our team coverage. the market rally rick santelli on the bond markets. steve liesman has been paging through those minutes. bob, the stage is yours. >> thank you, tyler. so this is one of those days where optimism on the coronavirus headline is moving the market, so energy, retail, banks, home builders these are the sectors that tend to move on these positive headlines. they're the ones that are rallying the most today. i keep pointing out, though, how much damage has already been

rahel sal loehmann looks us into how tech fits into that piece of the puzzle as well. >> hi, morgan.oronavirus has clearly changed how americans are working now but for some of the nearly 10 million americans who have been laid off in the last two to three weeks it's changing how some have been laid off. companies small and large are turning to conference calls or programs like zoom to lay off workers virtually and sometimes in large group setting class pass, for example, announced they had to lay off some of their workers via zoom, although they say they then conducted one-on-one calls with employees. ud retailer se for ya had to lay off seasonal and part time workers. for sephora's part they say they have employees all over the country and they felt the conference call was the best method some twitter users don't agree and calling it callous and others calling for a complete boycott of sefora, search the #boycott them on twitter she says her layoff was conducted in a group setting more than 100 people were on the call and she says they felt like the layoff was very abrupt and that

. >>> a news update with rahel solomon. >> good morning, everyone.mall business relief program has run out of money, 350 billion paycheck protection program provides loans to small businesses to help them maintain their workforce. republicans and democrats say they want to increase funding for the program but they've failed to reach an agreement to do so. >>> brett crozier could be reinstated to command the "uss theodore roosevelt." the captain was relieved of command after raising concerns about an outbreak of covid-19 aboard the aircraft carrier. mark esper says an investigation into the incident has been completed and the results are under review >>> the pga tour will resume tournaments june 8th without fans present for at least the first four scheduled events. >>> and facebook will start warning users who have either liked or reacted to or commented on covid-19 related posts that have been proven false by the world health organization and have been previously removed by the company for posing imminent physical harm. >>> for more coronavirus cover

rahel solomon is here with more on the story >> hi, kelly health care workers are sorely needed governor cuomo asked for out of state professionals to come to help with covid-19 and some grads say they want to help but facing the long delays to be certified. we spoke to a graduate in brooklyn, katelyn gray, she says her test postponed three times in march and april. >> we go into nursing for our own reasons but the goal is ultimately the same and that is to help people and in this case it is not only helping covid-affected patients but our fellow nurses. we hear how we get nurses desperately. it is upsetting more than frustrating. >> so bob waylan says that they were forced to close the testing facilities in march due to social distancing requirements he tells us they're up to 80% of testing facilities open and trying to do to help is they administer certifications for 250 professions or tests and made pretty much all the other tests virtual to get the workers in, tested and working as soon as possible. when i asked, well, why not make the nursing tests virtual to get more people tested,

. >>> welcome back let's get the headlines now with rahel solomon. >> good afternoon, scott just minutes ago, german chancellor angela merkel says her economy will start to slowly reopen their economy next monday she says people should still wear face masks. the head of the world health organization now expressing regret over president trump's decision to stop u.s. payments to the group he's looking to other partners now to help fill the gap he also renewed his call for a united front >> this is a time for all of us to be united in our common struggle against a common threat, a dangerous enemy. when we're divided, the virus exploits the cracks between us >> covid-19 is known for ravaging lungs, but there's also growing evidence that it's damaging other organs as well, including the heart, kidney, and liver. "the washington post" reporting early data on intensive care patients shows that up to 30% lost some or all kidney function >>> and how about this in england, a 99-year-old world war ii veteran has raised more than $9 million to help battle covid-19 captain tom morris said he would wa

i'm rahel solomon at cnbc headquarters. here are today's top business headlines. wall street looks to open in the red this morning. stocks rallied yesterday. that was optimism the coronavirus pandemic is easing even as earnings report show the toll the outbreak is taking on companies' profits. the nasdaq leading those gains. that was up 4%. traders are cautioning the markets may have a tougher time due to the possibility of a second wave of cases as lockdown measures are lifted. and focus today, data on retail sales and industrial production and earnings from bank of america, citigroup and goldman sachs. peacock will launch for free for some comcast customers. they will get peacock premium including more than 15,000 hours of movies and shows such as 30 rock and "jurassic park" and early access to "the tonight show." it will launch nationwide for everyone else in july for $5 a month. and sling is offering free tv every night from 5:00 p.m. to midnight as part of a new initiative to service happy hour across america. you don't have to provide a credit card so you do

i'm rahel solomon at cnbc headquarters. here are today's top business headlines.all street looks to extend yesterday's huge gains. dow futures up about 700 points. the market soared yesterday with the dow, nasdaq and s&p 500 up more than 7%. the dow jumping more than 1,500 points, the best point gain, sparked by several headlines pointing to a potential slowing or stabilization of the coronavirus outbreak both here in the u.s. and in parts of europe, although health officials say it's still too early to determine whether that will be a lasting trend. the s&p 500 down about 21% from its record highs. president trump is announcing that the u.s. has struck a deal to buy millions of n95 facemasks from 3m for health care workers. the president had been in a dispute after asking 3m to stop selling those protective masks overseas. a request the company called counterproductive. 3m will import 166 million masks over the next three months primarily from its factories in china. >>> all state will return more than $600 million in auto premiums to customers as many americans

i'm rahel solomon at cnbc headquarters. here are today's top business headlines. wall street is set to open higher this morning. the dow posting its first four-day winning streak since early february. it's also on pace for its best month since 2002. plans by some states to ease lockdown restrictions and partially reopen economy really boosting optimism. stocks that would benefit most from a reopening such as retail, they're lending and leading the gains. the markets are largely shrugging off another big drop in oil prices sparked by fears that we could run out of places to store crude amid this plunge in demand and earnings from 3m, caterpillar, merck and u.p.s. airlines are stepping up policies to help prevent the spread of the coronavirus. jetblue will require face coverings to be worn throughout travel including check-in, boarding, in-flight, and while leaving the plane. jetblue began requiring all crew members to wear a mask or a face covering while on duty. american airlines will also start handing out facemasks and wipes early next month. >>> and comcast, at

i'm rahel solomon at cnbc headquarters. here are today's top business headlines.l street is set to open lower adding to yesterday's losses, the dow dropping nearly 600 points. a historic drop weighed on investors. the current contract falling more than 100% to close below zero for the first time ever. and essentially that means traders were actually paying to have someone take oil barrels off their hands. the may oil contract expires today. now the june contract is in positive territory, but the move really highlights just how much demand has collapsed due to the coronavirus pandemic. people aren't driving, airlines aren't flying so no need for oil to be refined into gas or jet fuel. another well known retailer may be heading to chapter 11. lord & taylor is exploring options including filing for bankruptcy after it was forced to shut its u.s. stores. many businesses dealing with the economic fallout of eligible for aid. neiman marcus could file for bankruptcy and jcpenney is considering it. with so much of the economy shut down due to the vieries you may need to s

i'm rahel soloman.rading 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%, back down toward 3, right back up again. daily rates don't usually move like this in both directions so quickly. what's going on if first, it's all about the reaction to the coronav

of coronavirus cases has surpassed 1.9 million as some countries race to further contain the spread rahel has the headlines. >> good morning. the uk is reportedly set to announce it is extending the lockdown for three more weeks. this comes as french president said last night that he is lo country's lockdown until may 11. india pushing the lockdown to may 3. in china, the country is approving two human trials being developed by the wuhan institute of biological products under the state-owned china national pharmaceutical group there are currently no vaccines or drugs but we know europe, china and u.s. are all trying to become the first to provide vaccine. wells fargo telling some clients to look elsewhere. in an email, the bank told customers because of the backlog it is facing, the program must be fully subscribed. before lifting the bank's 2018 error on asset caps so it could make more loans to small businesses >> thank you when we come back, check out what's happening with goldman with another outlook for the global economy as some say the crisis may be nearing its peek increasing call

more on that and key business headlines with rahel solomon >> good morning. gm, ford and fiat are targeting may 18 to resume production at u.s. factories this is after shutting down those plants in march. executives from those companies have tentatively settled on the time line after talks from the uaw. our own fiphil lhas said there word has been finalized. fiat chrysler is up 2.8% >> boeing plans to restart the plant in south carolina. workers started returning to the seattle plant last week. shares of boeing running -- if we can get those up. okay >>> nathan saying it will return funds it received from the payroll production program it will return $1.2 million joining names like shake shack and ruth's chris back to you. >> thank you very much we'll see you in a bit >>> back to the markets. a major week for earnings season big tech taking center stage all week long. the trillion dollar companies are reporting this week. google's alphabet reporting. facebook, microsoft, amazon and apple. a bit of scrutiny growing as of late yesterday was the first day in a l

we'll get to rahel solomon back at hq. >> so yesterday, it was neiman marcus today, it is lord&taylor looking at bankruptcy. chapter 11 is one of the options being explored also trying to explore relief. airlines looking to keep payroll. you can see those are down as much as 2.5% there hertz will layoff 10,000 emploeys they had about 38,000 employees as of december 31. the majority in the u.s. late last month, they said they were implementing furloughs across north america >> tough times for more americans and more american families >>> really, a raging debate. with the last two weeks, stocks saw a violent 25% to 30% snap back was that a sign of near-term lows or a bounce in otherwise bear and declining market. getting you insight into this discussion, today. >> others say we are in a bear market others say no. what say you >> that's right. a u shape, v shape i think the most safe answer is the u shape. we know it is going to be bad. how long does it take us to get back to work i think that's why the u shape sounds like an attractive view point. if it takes longer, this volatility can

rahel solomon has the headlines this hour. >> let's start in new york where the death toll topped 10,000owever, governor cuomo also says that daily deaths fell below 700 first time in a week and that other key figures are leveling off cuomo says he looks forward to easing restrictions, will be making an announcement later with governors in the region about a reopening plan and also warns it will not be a quick process. >> it's not going to be we flick a switch and everybody comes out of the house and gets in their car and waves and hugs each other and the economy all starts up i would love to say that's going to happen. it's not going to happen that way. >> meantime, president trump has tweeted he will make the call on when to reopen the nation's economy, not state governors trump says he'll make a decision shortly. as always, for more coronavirus coverage, head to cnbc.com back to you. >> thank you so much. >>> we got new data on covid-19 treatment dug remdesivir meg? >> hi, kelly people were very much anticipating the results and what we got was information on patients who had used rem

they have to decide what to do about new requires we have the story of new grads caught in the mess rahel? >> graduates are in a unique position many like dean of miami didn't work many hours because they were in school so they don't qualify for unemployment or stimulus checks from the government and some are now finding that the job offers rescinded. just a few of the companies implementing hiring freezes. she was preparing to move with her sister an her mother to chevy chase, maryland, to get a management training program at geico headquarters gave us the lease. searching for a new home in maryland saying it's a once in a lifetime opportunity, she was thrilled that is until she got a call that the offer was rescinded. >> i was in the process of communicating with the relocation assistance team and literally last wednesday i got the call right in the morning, i got the call from a geico representative saying due to the coronavirus they cannot do the on-boarding process for new employees. >> and, kelly, gayle turned down two other offers saying she loves the company, she hopes to work for

rahel thank you very much. coming off the session low of about 624 on the dow when we come back, robert, the chief business officer for youtube, on content and the impact from the coronavirus en rurn.wh at cdw, we get that trying to simplify data storage can get very complicated. but cdw will assist your needs and implement a dell emc unity xt all-flash unified storage platform. it delivers speed and efficiency, while providing simplicity and flexibility. for unified storage platforms, you need dell technologies, and it orchestration by cdw. >>> welcome back over to julia boorstin who joins us with a special guest. youtube's chief business officer. >> thank so much robert kyncl chief business officer for youtube thank you for joining us this morning. we really appreciate it. we understand there's been a surge in viewership on youtube how are you staying ahead of all of the misinformation about coronavirus and also about treatments for it when it seems like the misinformation just does not stop? >> first of all,

rahel solomon has those at hq. >> hi, dom good afternoon, everyone senate minority leader chuck schumer says coronavirus bill talks will continue through the weekend after the small business relief program ran out of cash this week. democrats want expanded aid to include broader relief for small businesses, hospitals and state and local governments. >>> and a group of democratic senators is accusing most airlines of refusing to issue billions of dollars in cash refunds to passengers after flights were canceled due to the pandemic carriers are issuing credits for future flights instead the senators say that struggling families need that money now >>> michigan's governor is aiming to begin reopening the state's economy next month reopening would come in stages to prevent a wave of new infections governor whitmer hopes to begin the first phase of reopenings may 1st. >>> the nba and wnba selling cloth face coverings online featuring logos and proceeds donated to feeding america and u.s. in second harvest in u.s. and canada as always for more coronavirus coverage head to our website cnbc.com

to rahel solomon and get a coronavirus update. >> good morning. the world health organization says we are certainly not at the peak of the virus. since 90% of global cases are coming from europe and the u.s. alone. w.h.o. officials also warning that imported cases are the biggest threat to china at this time >>> joining forces to develop a covid-19 vaccine the partnership will accelerate the timeline for development by combining technologies and resources. the companies plan to start clinical trials this year and hope to make the vaccine available by the end of next year >>> amazon firing two employees who were outspoken critics of the company's treatment of warehouse employees during the pandemic so amazon says that the employees were terminated for repeatedly violating internal policies amazon's communications policy does prohibit employees from speaking about business practices without approval from management >>> and walmart designating order pick-up hours at select location for first responders, customers over 60, disabled shoppers and those

let's get out to rahel solomon with the latest for us >> let's start with new york the governor sayinghat the state will now see the worst of the pandemic not until the end of april cuomo closing new york city playgrounds to try to improve social distancing and new yorkers to follow the restrictions so that the worst-case scenarios don't come to pass. >> our course for planning purposes is a moderate model because in truth the higher models we don't even have a chance at meeting that capacity anyway you say over 110,000 beds. there is no possible way we could get there. >> maryland is expanding the coronavirus testing with three drive-through sites at motor vehicle registration centers for people who have approval by the doctors and symptomic. florida's governor issuing a stay at home order for floridians of course, as always, for more coverage head to the website cnbc.com kelly, that florida news pretty big because the state getting quite a bit of heat not issuing that order sooner. >> thank you very much >>> we watched the markets dow down 840 points. can't hurt at this point better

more of a consumer economy and not just only manufacturer as well let's get a coronavirus update with rahel >> good afternoon, everyone. global covid-19 deaths have gone up 150,000 according to the johns hopkins count with more than 2.2 million confirmed cases. small business administration is releasing new details on the loans provided through the paycheck protection program. we know firms california, texas and new york were given the most aid. more announcements that schools will remain closed through the end of the year. iowa, texas and washington, d.c. will keep virtual learning in place for all students a similar announcement is exekt todpechted from the governor of illinois four employees at a a tyson food plant in georgia have died of covid-19 they've declined to say how many have tested positive as italy as approaches its seven week of lockdown for more, head to our website. >> thanks for that still ahead, one skas the exuberance of gilead's drug is out of control as we head to break, here's a check on bond. yields making the move high. only reversing some of the d declin declines w

. >> rahel, thank you.mall business is feeling a huge impact from the coronavirus and we're bringing you stores of just how hard hit it has been. a paradise for smoked fish in new york city has been an institution for over a century they've never had a layoff until now. here's fourth-generation owner nikki russ betterman in her own words. >> we've weathered the spanish influenza pandemic, wars, recessions, depressions, terrorist attacks, hurricanes, floods this is uncharted waters in 106 years we've never laid off anyone and within a matter of days we laid off 80 people, which is half of our staff. it's a horrible experience i am sick to my stomach. i'm still thinking about it. it's so hard to tell cooks who have been so important to us that the least bad option is to lay them off to get unemployment knowing that unemployment benefits at least here in new york state are unacceptable. you can't tell someone to shelter in place if they don't have the money to pay for that shelter or to feed themselves or thei

. >> rahel, thank you.rgy stocks the best performers today mike, what else are you seeing with market internals? >> if you look at the volume split for the new york stock exchange, yesterday it looked strong midday, softened up by the end of the day now again we're more than 90% of the upside we did get a very positive kind of amount to buy on the close of market on close indication a few minutes ago. that is responsible for this last leg higher. it seems people are very, very interested in that tactically because we don't really have economic fundamentals so who's buying at the close is relevant information. take a look at new highs and new lows on track, potentially, earlier today, and this includes some bond funds, i think, but common stocks, you're close to having an even number almost no new lows relative to what we saw. that's all to the good if you look at the volatility index, it continues to come in even if reluctantly. it's well off the highs and down toward the low 40s it's progress without yet b

could be just a result of states needing to process claims some of them, new york as my colleague raheleported, updating their technology system right now. the question is, is this the peak we'll be watching the numbers and looking at them on an individual state basis to know are we at the peak becky? >> steve, thank you very much. stay with us we spoke to larry fink of blackrock a short while ago and here's his take on what needs to be done to get america back to work >> every business is going to be very cautious. they want to be protective of their employees. they want to make sure their employees feel good about coming back to the office let's be clear, anxiety is still very high. and we hope we have the ability to reboot. but in doing so, i know many leaders told the president yesterday we need to have adequate testing to make sure we have a secured environment. >> let's bring in larry c kanto. >> i'm afraid there's no letter that captures this the left side is a v, sharper, and the right side more like a u. i think when we get recovery, i don't think it will take that long, but it