Microsoft was up by about 7 if you watch this morning, dow futures are indicated up s p up by 11 and up by 55 points the treasury yield looking below where we are now the yield on the 10year last i checked weve gotten used to that 0. 8 range. 0. 7 in that area now. Andrew becky, it appears weve found a bottom we have an update on the numbers to bring to you. New york has more thans the epih more than 61,000 of those cases. New york governor made this appeal for Health Care Workers across the county to come help new york as governor of new york, i am asking Health Care Professionals across the country if you dont have a Health Care Crisis in your community, please come help us in new york now we need relief Governor Cuomo said new yorkers havent been doing well with social distancing and he implored the public to be responsible and stay home. A hospital built in central park will officially open today located in front of mount sinai hospital up in the 90s there on the east side. It holds 68 beds to help provide care for patients diagnosed with the virus. The usns comfort arrives in new york harbor to help with noncoronavirus patients. That ship has 1,000 beds and 12 operating rooms on board joe. Thank you lets get to eamon at the white house. Preparing for a fourth round of emergency Economic Relief amid the outbreak this is just days after a 2 trillion phase three plan. Eamon javers putting on some weight joins us now. Good morning to you, joe. The white house is pivoting away from the economy saying the idea of extending the social distancing guidelines out to the end of april now saying the First Priority here is focused on preserving the lives of americans so bad for the economy but that is number two on my list. Fis i want to save a lot of lives. Well get the economy back i think it will come back fast ied to go from doing a great job for three years to shutting it down it will come back rapidly. We learned a lot what will happen on capitol hill nothing immediately. Theyll be out at the house of representatives until the end of april. They are starting to talk about it nancy pelosi said shed like to bring back the state and local Tax Deduction that has hit some relatively high earners in coastal states pretty hard that is one in there and talking about aid to front line Health Care Workers, inphau structure spending giving that Interest Rates are so low and aid to states. All of this is a stu of ideas right now. Nothing is likely to happen anytime soon this will be more partisan right now. We saw the 960 vote in the senate those are rare as this goes on, it will likely get more contentious well see where it lands it is march 31st. If we are not in april, we cant get through april. I was just saying, god, i wish it was april then the days start going by did you see in virginia, the stay at home, what it extends to it extends until june 10 . June 10 june 10. We got a stay at home order in maryland yesterday go on, eamon. We got a stay at home order in maryland. It comes over the phone. It is scarey when you get the sense we are all hunkered down here riding out the month of april. It will be a tough period of time eamon, in terms of whatever this next package may look like, what kind of dollar figure do you think could possibly be on it we heard from ted cruz who said, we spent one tenth of our entire debt i do think there will be a second need for stimulus it is possible to discuss some of these things will go on longer and have a larger economic impact. Right i think you you are hearing that from some republicans on the hill saying wait a second. We just passed a 2 trillion bill lets see the need before we rush together a list of ideas of some are skeptical of nancy pelosi they are working on a wish list here i do think you got a 24 trillion u. S. Economy here and we turn it h we turned it off like a water spigot if you see Small Businesses applying for that loan, which is only authorized up to 350 billion in the current bill. They are going to have to reauthorize that up to a trillion, maybe. I dont think there is a sense we can hold off on this kind of rescuing the economy in order to reserve the figures because weve blown a huge hole in that already and the need is right now. Eamon, im kind of struck by the idea you are just getting the stay at home orders. You talk to the Health Care Professionals here, they say in new york, they hope that will peak midapril and in the weeks after that, it doesnt just go away seeing how this plays out, no better place to watch that than in congress. Is this a situation that has really hit home . How does that play out watching local politics and how that plays out in the house too. Look, i think it is hitting home we saw a report that one member of congress is diagnosed with likely diagnosed symptoms. There is a sense that this is coming closer and closer to congress there is a real question now of whether or not members of congress will be able to get back to vote given weve seen all these Flights Canceled people wont want to drive from the west coast to the east coast to get back to vote. There is a continuity of government they dont have a plan for remote voting. Theyve been considering those since september 11, 2001 and never come up with the idea. Congress has never faced the idea of its own mortality. Members are starting to feel that particularly when you look at congress, a lot of peoples are in a vulnerable age group. They are living with this too . Just to point out, joe gave you grief at the top putting on weight that was him pointing out what you were pointing out on twitter about your daughter baking up a storm. My 13yearold daughter has been on a cooking spree. She made inkred inl cookies i ate for break fast and now these incredible lemon cupcakes you know they are calling it the covid19 its like the freshman 15. Youve heard that we are all baking and eating yes we shouldnt make fun. Thats what you do. You are nesting. Thats what is happening look, this is the new reality we are all in. We are figuring this out together and we have to figure out a way to get some more exercise too we are eating our way through it i picked a bad period to start putting on pounds. A bad starting point thats the problem anyway laps around the living room did you see the sparkly things on what i tweeted those are oatmeal. My daughter got the picture to sparkle. Have you seen the video of the work outguy dancing before and then after thats me. Coming up, we are talking about some of the alternative data sources to try to quantify the impact steve will join us next. Crude prices are bouncing off those multiyear lows. Well are talk about the efforts from u. S. And russia to stabilize amid the price war that is coming up next turning to the alternatives, steve turns to what they are looking at and what it shows gauging the extend of the downturn and from the gauging bid, ill tell thau goldman lowered the forecast to minus 9 , which is about the worst ive seen. The official data lags theyve turned to this Real Time Data using city map or data to track mobility in a bunch of u. S. Cities on a real time or daily basis here it is all down as youd expect that is terrible news but it might be a positive sign for slowing the spread if we do get an upturn or when we do get an upturn, this will turn up. Morgan stanley, they are following the coronavirus data they are also looking for the mention of coronavirus in sec filings on a daily basis again, on the way up or when the turn around comes, it will be on the way down youll be able to gauge it pretty quickly then there is my favorite data they have all of these millions of searches that they track. They get hyper focused when it comes to individualtype businesses out there you can see American Interest by search of restaurant type. The relative performance, pizza doing the best chinese food the second. Italian not so good and french the worst of all we can track this on an almost daily basis here to see when these things turn. Dont get too excited. The consumer interest overall for restaurants, down 54 . Consumer interest for night life down by 69 . One of the good things about this data to help us gauge the extend and form the debate that eamon is talking about which is warrant we need the stimulus build. Ill be back at 8 30 with the work that goldman is doing theyve developed a whole series of Economic Indicators steve, you know when you do people are really excited to moderately excited, i think you need to add pizza and italian. That would put italian way up. I do. I thought about that, joe. On a more serious note, with he were talking about another stimulus p stimulus package and that we added about 10 of our total debt we are throwing everything we possibly can to try to stop this virus. Then, we are going to throw everything we possibly can to try to keep the economy running and put it in position to come back if you cut out the middleman, we are just ready to do anything to save our people and stop the virus. Thats why weve all done anything to save as many people as we can. The economy is sort of take the brunt end of it but well try to save that too. Is it that simple, steve i think it is that simple that is sort of a positive sign that we are not really arguing the political situation here one of those things where you have a fire and nobody is debating whether we are using too much water here. We could have the argument about the fed. Everybody sees the need for this i think maybe some of the details we could debate. You are right, you are going to figure out how to save peoples lives and the economy here we are in a unique position here we print the dollars if we were a country with a large foreign debt wed be having a much bigger problem. It is the exceptional position of the u. S. And World Economy that gives us the luxury to do this right now thank you the dow futures are trending towards unchanged. Oil plummeted to an 18year low hitting the lowest close since 2002 i think that tick was 19. 20 a barrel for a closer look, lets welcome our guest from ca canary oil. It has been extremely rapid you have to look at what is happening macro wise and also with the specific industry, the demand has been catastrophic for us the demand was down in february. We are looking at Something Like 20 to 25 to 28 demand in north america and europe this month. The big question is how long can that last when you are talking about another month, two months of shutdown this country i dont think much longer the problem coming up is the Storage Capacity we are looking at running out of storage for the first time in history. Prices are soaring several of the pipelines have sent letters to tell them to shot and shut production i think the storage crisis will be the next shoe to fall and likely push prices lower in the short term texas regulators have been looking to curtail production for the first time the lack of storage may be the thing that shuts them down yes the market will beat them to it. The storage rates are doubling i think we are looking at a rapid rush for Oil Companies to stop drilling. In the short term, i look for oil to fall and production numbers to fall rapidly. This is a case where the data is lagging behind that will lag behind what is happening on the ground for now. The Trump Administration has been considering intervening President Trump had a call with president putin of russia. They agreed on how important it is to see some stability on the oil prices what do you think about what the u. S. Should be doing when it comes to Foreign Relations in this i think trump should be actively trying to solve this. Without foreign oil, it will create quite a hardship for u. S. States like texas, oklahoma, north dakota, this is going to be a huge wet blanket on what we all hope will be a vshaped or a high sloping ushape effect to the economy. Using sanctions to try to get them to come to an agreement this is painful for u. S. Oil and gas. I expect someone to blink at some point in the future one of those two countries will get the other two forward for the price of oil at some point, i think. Thank you for your time well talk to you soon thank you for having me. When we come back, well tell you about some moves companies are making in response from retail furloughs to ventilator productions some of the images from the impact across america yesterday. I knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. 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Welcome back we had an update came out with numbers on what is happening with internet traffic. The shift in the Network Usage is within its cap ability about the speeds of people learning and working from home. A huge surge in what is going on come cost has seen a 32 increase in peak traffic prime time downloads have shi t shifted to earlier primetime for uploads that the entire workday from 8 00 a. M. To 6 00 p. M. Is primetime with an uptick in Video Conferencing and calling. Gaming downloads are up. Streamer consumption is up 38 ge is stepping up to produce ventilators. Doubling capacity for production at i wisconsin factory separately, Ge Health Care is collaborating with ford. Planning to build 50,000 machines in the next 150 days. Macys, gap and others will furlou furlough thousands of workers. As they advise social distancing romai remain in place. They will continue to pay benefits offering to send some displaced workers to places that are hiring like walmart. More companies withdraw their guidance in response to the pandemic futures now moving to the red. Flickering between red and green now. Off about two points have you noticed how well all the departments have been working together since weve gone mobile with the now platform . Theres no friction at all. Its neat to see the Office Running so smoothly. Servicenow. The smarter way to workflow. Should they downsize . Nesters now. Probably. Will they . Not as long as thanksgiving is a holiday. Planning for the future is about more than just money. Let equitable be your guide. Welcome back to the final trading day of the month and the quarter. We have a jobs report coming up. U. S. Equity futures have turned into the red not significantly at this point but after a pretty good showing overnight in the overnight session, i dont know. Actually, they are right around unchanged as andrew was saying well see what happens between now and 9 30 and between 9 30 and 4 00 who am i headed to me, ill take it. Me guys, telling you about a few companies turning out guidance Restoration Hardware after Fourth Quarter missed expectations earnings did beat expectations but withdrew guidance for 2020 then there are shares of Dominos Pizza which are under pressure the company withdrew because of the coronavirus as well. Shelter in place directives, university and school disclosures and the lack of televised sports is weighing on business what do you think . Any company that hadnt withdrawn guidance who figure out what is going on at this time i dont understand. You are either going to have guidance you cant even provide guidance. Nobody knows half of the guidance will be wrong, right i dont think we know we have a letter to tell but right now from two blackrock shareholders saying the economy will recover but well feel this in reverberation. The outbreak has attacked Financial Markets only seen in a classic financial crisis going on to say, as dramatic as this has been, i do belief that the economy will recovery because of the lacks of some of the typical financial crisis larry fink seeing some operation. Not necessarily a magical snap back but that he does see overtime a steady recovery when we return, new data coming out from china. That could be a possible recovery later, dont miss our interview with ares manager. Hell give us his take of where markets are headed you can watch or listen to us live any time on the cnbc app around your house. Hopefully, you are not going anywhere if you are on the front line and headed to work this morning, thanyofoalyoark u r l u e doing. You can watch us on the app. We are back after this did you know prilosec otc can stop frequent heartburn before it begins . Heartburn happens when stomach acid refluxes into the esophagus. Prilosec otc uses a unique delayedrelease formula that helps it pass through the tough stomach acid. It then works to turn down acid production, blocking heartburn at the source. With just one pill a day, you get 24hour heartburn protection. Prilosec otc. One pill a day, 24 hours, zero heartburn. Welcome back surprising data from china coming in from overnight showing an expansion just a month after showing a record rate of contraction. Eunice joins us from beijing good morning even the bureau of statistics