Admitted to icu. It is april 7, 2020. You are watching cnbc. Good morning and welcome im dominic chu live at cnbc headquarters we begin with more breaking news stocks set to surge at the opening bell with the futures indicating that dow could open by another 555 points and the s p up by an implies 56 and 140 points more for the nasdaq it would have been an historic rally more than 1,600 points just yesterday it was only the blue chips best day since march 24 and only the third biggest gain ever. The dow and the s p remain more than 20 below their alltime highs. The nasdaq below its record high but we were up some 21 since the lows we saw back last month. Team coverage kicks off. Matt taylor is in singapore. Julianna is on early trade in europe headlines out of washington, d. C. 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. Lets 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 continued support through recently announced qe program as well that is the movers in asia today back to you. Julianna tatelbaum is standing by in london with the latest good morning. European markets are rallying this morning the main benchmark gained 3. 7 now we are seeing a really broad based rally take place there is a stronger demand for cyclical parts of the market taking early signals that the pandemic could be easing in parts of europe that were hardest hit, the likes of spain and italy. Youve got travel and leisure and auto performing very strongly as investors put money back into those stocks on the flip side, health care, it has been very well bid in the last few weeks is underperforming. On the back of some of the macro suppliers and more companies tabing measures to shore up their balance sheet. Aerospace industry with more on their balance sheet. Sticking with the United Kingdom, Prime MinisterBoris Johnson was moved to the icu yesterday as his coronavirus symptoms took a turn for the worst. He was diagnosed more than a week ago we have the latest on the uk Prime Minister it was the 27th of march as you say when Boris Johnson was diagnosed with positive test for coronavirus. Last friday, april 3, he said he was continuing with selfisolation because his symptoms were persisting we heard he had been transferred. That hospital was since confirmed but from 7 00 p. M. Yesterday, the Prime Minister was transferred to an intensive care unit after his conditions were getting worse we understand with a fever and a cough. We understand he was given several litters of oxygen. They say the move to icu was precautionary but the availability of a ventilator being on hand was needed who is running the country yesterday, at lunch time, we had the Prime Minister looking at messages and tweeting he was receiving good coverage and health care and that he was in good spirits but then later on, now dominic raab who is the 46yearold foreign secretary of state would be deputizing for the Prime Minister if and when necessary. In the United Kingdom, we do not have a formal plan of succession as you talk about what dominic raab plans to do or get done in the absence of the Prime Minister, what is first on the agenda as Boris Johnson recovers in the icu the key here is to reach the peak of the coronavirus and to get beyond that peak whether it is new york, italy, france or spain, same in the United Kingdom last night, we had confirmed another 429 fatalities in the uk total taking it up to 5,373. At the moment, they are making sure there are enough icu beds we have seen a brandnew hospital built from scratch in nine days by the british army of engineers. So it is getting more icu beds and testing beds that has been a criticism, not having enough tests. Of course getting workers in enough ppe equipment these are the priorities thank you very much to washington, d. C. Where talks of a fourth stimulus package is gaining attention. After word that a white house official who sounded the alarm here tracie potts has more. Good morning. That was the u. S. Trade rep peter navarro. He wrote a paper warning that a pandemic that as many as half a Million People could die without aggressive action. He said americans could be left defenseless against a fullblown coronavirus saying that this could evolve into a fullblown pandemic and imperiling the lives of millions of americans his memo went to the National Security council we dont know if President Trump saw it himself speaking of President Trump, he is saying he is now willing to back some sort of stimulus package that they think needs to include, as nancy pelosi said, over a trillion for Small Businesses, more for extended unemployment insurance, including funds for food stamps and perhaps a second round of direct payments for americans struggling to make ends meet noticeably missing from that list is infrastructure projects. Something pelosi may be backing off of to get support of republicans in the senate. President trump saying there is a light at the end of the tunnel with regard to Coronavirus Vaccine and Treatment Research is there any sense right now of even more positives tilted towards that angel and anymore messages from the white house to that effect in the coming days good question we dont know if they are going to try to pack some money for increased research into the second stimulus. Certainly, they are working on it the fda is working on it trying to get the vaccine out as quickly as possible. We have known from the beginning that will be a longterm effort. That is taking an impact right now. Thank you very much live from washington, d. C. With the latest all of this is coming as the u. S. Death toll from coronavirus hits 10,000 for the first time rahel solomon with the latest. In light of that number, the nations cop disease expert dr. Fauci said the world may not ever get back to normal. Despite the number of therapies and vaccines in the pipeline, quote, if you want to get to precoronavirus, that may never happen because the threat is there. President trump has struck a i deal to buy millions of face masks from 3m. Under the deal, this he will import 166 Million Masks over the next three months primarily from its factories in china. The 350 program launched on friday saying the Small Business administration used to process loan applications crashed yesterday. And reporting that banks also still dont have a key form needed President Trump addressed this issue at yesterdays White House Briefing as of today, tens of thousands of Small Businesses applied for more than 40 billion in relief under the p paycheck protection program. It has really been performing well a couple of minor clicglitches have been taken care of. We hope that is the case because millions of americans are counting on that relief. Struggling to make ends meet. Thank you. When we come back, why our next guest says despite this weeks big rally, investors may not be out of the woods just yet. Later on, uk Prime MinisterBoris Johnson and his developing conditions, well speak with nyus doctor and why one investor says this stayathome stock is too rich to buy more after this. 300 miles an hour, thats where i feel normal. I might be crazy but im not stupid. Having an annuity tells me that im protected. During turbulent times, consider protected Lifetime Income from an annuity as part of your retirement plan. This can help you cover your essential monthly expenses. Learn more at protectedincome. Org. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Welcome back u. S. Markets are looking to build on big gains rising more than 7 . Opening up by 550 more, the s p up about 55 and the nasdaq up b 145. With me now, matt, this is an interesting move some folks thought wed see a little bit of a pause. It doesnt seem to be happening that way does this mean the allclear sign is out there . I dont think it does we are involved in a process that started off with investors deleveraging well also see where these Companies Start to deleverage adding a lat of leverages. A lot of that went to issues that arent going to service that debt. In other words, stock buy backs. As we go into recession, youll see conditions deleverage and another way down im curious, the deleveraging and forced sellout, a lot of that seems like it already happened is it still the case that they are aggressively long and need to unwind and is that pretty much behind us a lot of that has already been done, no question we saw that in 2018 where we had one woosh. A lot of people dont realize how the economy has levelled up. Number one and number two, usually when you have a bare market we saw that in 2008 and 2000 where the market rallied on every trace just 50 of the sell off only to roll back over and make a new low the chances of that sell off make that high that should make it to this point up 50 of the initial selloff. That will roll back over this will be much more than just a correction there for the process that will take long tore play out it will happen quicker than in the past you laid out a con instruct that is your best cased scenario what are you buying, selling and what are you waiting for and aggressively positioning for as well one of the things you cant do is catch that exact bottom. Ive been saying to buy for investors to go in to really wellrun companies, buy them on a strict scale down basis. You buy some at the lows, which i was saying, then you look to buy another down maybe 5 . You are never going to be everything you want to buy but youll build a nice base at a time when people are really starting to sell most bare markets have a rally just like i think we are starting now to get people to say, oh, this is it. Then it fails and people really say i give up. Matt, thank you for those thoughts still on deck, another hit for boeing as it halts plane production at a key u. S. Factory. Well be right back. Announcer todays big number, 8. 24 . The number t rseheusll 2000 went up we cannot do all the good that the world needs. But right now, the world needs all the good that we can do. To everyone working to keep america strong, thank you. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Welcome back s p 500 premarket gainers showing some signs of life there as soon as we flash them up there we go. Amazon is cracking down on people who violate social distancing policies at its warehouses the Company Started notifying employees they could face disciplinary action. The first violations will result in a written warning a second could actually get them fired. New york Governor Cuomo extending his states lockdown amid the hot spot. Phillip mena has the latest. New york governor is extending the pause order. The pandemic has already killed nearly 5,000 people in the state. The extended order means nonessential workers will have to stay home at least another three and a half weeks another temporary hospital opens at the u. S. Tennis center in queens with beds that can handle up to 350 patients. It is expected to hit max capacity in the next three weeks. The hospital ship docked off the coast, the usns comfort adds another 1,000 hospital beds to help battle the pandemic when we come back, a wild ride for oil as opec plus moves closer on the agreement but there is a catch that could derail the whole thing and why they are taking issue with india. More after this. Its a challenging market. Edward jones is well aware of that. Which is why were ready to listen. And ready to help you find opportunity. So. Lets talk. Edward jones. Its time for investing to feel individual. Its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] stocks looking to build with dow futures pointing to a triple digit higher open as new signs of hope emerge around coronavirus while a new poll reveal a growing number of americans are increasingly worried amid the outbreak. Fears inkresing momentum as the Trump Administration and lawmakers mull another rescue package. It is april 7, 2020. You are watching cnbc. Welcome back to the show, im dominic chu live at cnbc with breaking news. Again, stocks set to surge at the opening bell right now, dow futures indicating what could be a 600point rise s p implied 63 points and nasdaq up 153 if these futures hold at the opening bell at what would have normally been an historic rally with the dow surging 1,600 in a single day. But it was blue chips best day since march 23 heading into this mornings trade, the dow and s p remain 20 below the alltime highs the nasdaq below the high level as well. Lets go worldwide matt taylor is standing by Julianna Tatelbaum has the early european actions we did see a positive session across the asia pacific markets. A lot of these closing off the higher levels of the day going to japan where they have had developing news in the last hour or so with news off the record breaking package beg approved by the cabinet approving the 108 trillion yen or package that would include payments to families japan announcing a state of emergency in seven prefectures including tokyo and osaka. Elsewhere, we saw some fairly strong gains coming through held down by shares of samsung saying the q1 operating will come in better than expected that is now tipping the profit against the expectations of a figure of 6. 1 trillion yuan. Samsung higher and helping the kospi with fairly strong gains china returning from Public Holiday as well and it managed to move higher as well up by better than 1 back to you. Thank you to the early trade in europe now. Julianna tatelbaum is standing by good morning. European markets are extending gains this morning after yesterday gained about 3. 7 . Today, germany is leading the way higher when we look at the sectors, it is fairly broad based. Some of those sectors that were hardest hit, travel and leisure and auto were seeing a particularly stronger bid. Some of those are more defensive. More companies coming out with measures to shore up their balance sheet. Industries have cut outlook for the year and ez jet has come out saying it secured new funds from the Treasury Companies making sure they have the cash to withstand the continued fall outaout and the lockdowns. The volatility has hit the lowest move as investors put their money back in the market turning now to energy. Oil prices now have been volatile as of late. Can you see here, u. S. Based benchmark up by 3. 5 you can see 27. 06 the worlds biggest producers will agree to the output cut according to this report, saudi arabia and russia will agree to that move after flooding the crude market with supply in recent weeks uncertainty sent oil down in yesterdays trade. Questions remain with weather the u. S. Will take part in an effort to affect prices. An agreement on output cuts will only be finalized if the u. S. Actually agreed to take part more on that story as it develops to washington, d. C. Now as a fourth stimulus package develops as one highranking u. S. Official sounded the alarm of the potential coronavirus months before it manifested itself. Eam eamon javers with us good morning. The big one is this reporting of the New York Times overnight officials have been saying that nobody could have predicted the scale of the disaster here it turns out one highranking official was predicting pretty much exactly what we have seen as early as january and february peter navarro, the u. S. Trade advisor wrote these papers in january and february the one written in february detailing the level of disaster the u. S. Could face. Saying, increasing probable of a fullblown covid19 pandemic that could infect as many as 100 million americans with the loss of life of as many as 1. 2 million souls. Saying the main action the United States needed to take was a ban on travel to china for up to 12 months some white house officials see navarro as the ultimate china hawk so these may have been dismissed as peter being peter that he was latch