780 points s p also up 3. 4 the nasdaq up by 2. 5 . This morning, you do see some red arrows right now, the dow is down by 111 points the nasdaq down by 65 points jobless claims number that people will be watching so closely. Keeping an eye on trezy yields, it looked like the yell was trading at 3. 7 . Thank you, we have an update now and numbers. Confirmed cases in the United States is now more than 432,000. More than infections in italy, spain and germany combined new york state has 151,000 and 6,200 deaths Trump Administration is saying they are seeing real evidence that the measures being taken are working. A battle is brewing on capitol hill over new outbreak funding demanding 250 billion in new funding. House speaker and Senate Minority leader saying any new package would need to include more for additional money for hospitals, state and local governments. The senate is expected to bring competing measures to the floor today. Neither are expected to pass fed chair jay powell is said to give an update on the economy this morning he will speak at 10 00 a. M. As part of a webcast and virtual q and a session to discuss the measures well get a key read today on how many more americans are not working. These have gotten interesting. Another 5 million workers are expected to file unemployment in addition to the 10 million in the previous two weeks well bring you the claims number well have a full on jobs panel. That is the number that gives us some insight and a snapshot. Others well have to wait for. But watching these happen are right to the moment. Hopefully temporary but well get you that number today. Becky. I think some of the concerns are that maybe it is not some could be more permanent cuts than weve seen in the past. Eye popping numbers. 10 million already and 5 million more expected today. Far more than the jobs number we got last week for the monthly number that didnt show any of the real impact we had seen. Listening to the number, you start hearing the coronavirus cases. 400,000 was the number yesterday and already jumped to more than 430,000 today . March 5, we were talking about 11 cases in this country it shows you, if you follow money, you know the law of compound interest. It shows you how this builds with bigger, bigger numbers. Shares of disney rising the Subscription Service now has over 50 million customers. Richard greenfield will talk about what hes seeing with disney and disney plus starbucks expects Second Quarter earnings to be cut in half as the shutdowns impacted them Comp Store Sales declined 60 to 70 in the last week of march. Telling you about shares of costco under prayer after the companys sales rose in march as people stocked up they werent as high as expected but in places like jewelry and apparel that people are just not buying down more than 11 than the prior year when we come back, a conversation with bill gates with his warning and what the country could look like after covid19 futures a little weaker. Dow right now about 40 points below market well be right back. 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. Goodbgoodbye fred. [ toilet flushing ] what if he gets hungry . Kohler revolution 360 with continuousclean. Stays clean five times longer. Its okay, dad. Only from kohler. Shbecause Xfinity Mobilehen ygives you more flexible data. You can choose to share data between lines, mix with unlimited, or switch it up at any time. All on the most reliable wireless network. Which means you can save money without compromising on coverage. Get more flexible data, the most reliable network, and more savings. Plus, get 200 off when you buy an eligible phone. Thats simple, easy, awesome. Go to xfinitymobile. Com today. Welcome back we are bringing you a special conversation with bill gates a cochair. He delivered a ted talk in 2015 that predicted the world would be unprepared for the epidemic i asked him if the coronavirus was the pandemic he had warned about. Any time you get a humantohuman transmitted virus, it could always be the one. With the flu or any virus, once it is transmissionable, because of awful the travel we do, it is likely to go completely global because it is quite fatal and quite transmissible. It is the nightmare weve been talking about a long time. Sadly, a few things like this coalition for a vaccine were done after 2015. A very small percentage. What we should have done is have dying not tic diagnostics and drugs more quickly and a vaccine more rapidly. Walk us around the globe right now. We are hearing things may be improving in china there is a talk of a second wave of transmissions taking place. What is your view of who is happening in china and europe and United States and other places china took the situation in wuhan which was quite traumatic, with extreme interventions, they were able to crush the epidemic. Those hospitals are gone look at Commerce Stores are open now in china and nowhere else whereas before, it was the opposite it is a real thing that they took si significant number of cases. As they opened up, it is a slight rebound all the countries that have the substantial epidemic before having a vaccine, what type of activities should be engage in. Hopefully with the young people, with education, well have this interim period of opening up it wont be normal until we get an amazing vaccine to the entire world. You talk about these intermediate steps the president tweeted he wants to get us reopen sooner rather than later when the time line you have in mind of when we can get back to business and head more towards normal unfortunately, the u. S. Isnt uniformly shut down. Youll see a lot of increase in various communities. Even though our testing numbers are going up, the days to get a testing response should be under 24 hours the things taking longer than that there is no system of prioritization still needs to be fixed. If we get our act together and that testing including innovations like a swab, if those get into place by early june, well be looking at some kind of opening up the definition of that is what we need to be working on now, studying what has been done in south korea, what has been done in china and various parts of europe including sweden who at least has chosen not to go for a full shutdown like many other countries. Where do you think things stand in america it is different in different pockets as you pointed out in seattle, you were in the forefront of it. In new york, we are looking towards that peak now. The number of cases and how quickly theyve multiplied have been stunning. Where do we stand with places like new york, new orleans, chicago and beyond if you go to health data. Org, they take localities around the u. S. And look at predictions of when cases will peek and how much capacity and ventilators will be needed they assume a pretty good compliance you see a lot of counties will have this growth you have cases and mixing around it is great that seattle and the doubling rate is coming down here we are the First Community with the Seattle Coronavirus Assessment Network we are doing surveillance to see what cases were missed and age structure and data that was missing. That will be key input to deciding those opening up policies and what should be done there. So seattle is leading in some ways sadly, we had the first reported case and the effort of the Seattle Flu Network i ran was the first to see communities spread we were doing testing even when you werent supposed to test people that had gone outside the country. So, yes, some cases are near their peak but just because cases come down doesnt mean it is time to open up you have to have a testing in place that sees any new cases that the Asian Countries are great examples of doing that in a very Strong National level approach bill, we have guests that come on our Program Frequency that say maybe the cure is worst than the disease what is your response to that . I think it is very difficult when you have a lot of people dying of the disease that even if the government says, okay, lets keep the gdp production down, the behavior of people in terms of wanting to travel, go to events or even wanting to go to a restaurant, it has been utterly changed by the concerns about this disease until we can say to people that we are tracking this thing so well that going out to a job, to a car factory, a construction site, that those are safe enough that we feel confident we can do those things until we get there, no one can think the government can wave a wond and then suddenly the economy is anything like it was before that awaits a therapeutic with over a 95 cure rate or a broad vaccine. Weve had a demand side chalk and supply side chalk. That demand side is remediated by the fear of infection and wealth affects of many losing their jobs and industries operating at a far lower level than in a normal economy lets talk a little about what the Gates Foundation is doing. How much information you are getting, where you are getting that information i have a feeling you know more than any place else. You agreed you you are spending omt 100 million what will help us in this situation . The area we have the deepest expertise in is how you do testing, how you find drugs that will save lives and how you get a vaccine that making 7 billion of those is going to be an incredible challenge weve taken our normal work on polio irrad indication, hiv, tb work and weve had to redirect that to make sure we understand which therapeutics are promising. Picking which of the many vaccine efforts it is worth putting a lot of money behind and building that network which is very difficult to do. Probably will take about 18 months before we can get to significant level. Therapeutics could come a lot sooner things like manufacturing antibodies and using the blood of recovered patient yernts. Those are enough of them that i think it is likely well have those interventions in the four to six month time frame. How much that will cut the death rate in these overloads is still uncertain. That comes quicker than the largescale Vaccine Availability you are thinking 18 months, even with all the work already done and planning you are taking with lots of different potential vaccinations there is an approach called rna vaccine that people like moderna and others are using in 2015, we identified that as very promising for pandemics as well if everything goes appropriately, we can make the 18 months. Vaccines in older people is a huge challenge it turns out the flu vaccine isnt much of a benefit for older people younger people getting it so they dont spread it to the elderly so they benefit. Clearly, we need a vaccine that works at that age range because they are more at risk. You want to ramp it up but we dont want side effects. If we have 1 in 10,000 side effects, thats way more like 700,000 people who will suffer from it. Male, female, under nourished, comorbidities. It is hard to give this vaccine to the entire world. Governments will have to be involved because there will be spl risk needed before that can be decided on. Well bring you more of this interview with bill gates in the next hour. I talked to him about his thoughts on hydroxychloroquine, if he thinks that worth testing out. I asked if this is changing his Investment Strategy too. Well get to that. Great conversation. Really fascinating in the meantime, i want to bring in our resident doctor who has been listening in and some of his thoughts. Former fda commissioner, dr. Scott gottlieb we get our daily check in with the doctor it is nice to see you. Listening to bill gates. Bill, to me, at least, seemed optimistic but also maybe a realist in terms of how long it is going to take to get the world back to some sense of normal are you more optimistic or pessimistic right now . I think what he said is fairly on target i think things will continue on in the fall but there will be a surge on economy and activity. One of the things gates is doing is focusing on the manufacturing. We may have an effective drug in the fall i talked about that only the show but we are not going to have the capacity to produce it on scale. Gates has been focused on that issue. His foundation is doing work on that, on how do we produce this in the quantity required not just here in the u. S. But for the global benefit with sars, we never found a vaccine. Why are we more confident well be able to find a vaccine this time around . We didnt try very long to make a sars vaccine. Sars went away same with mers people are optimistic that this is a pathogen we can make a vaccine against. But we have never made a vaccine against a coronavirus. It is not going to give an enduring immunity. You may need a booster annually. When we make a flu vaccine, we have a tried and true platform we know well here, the platform is very novel. You are stacking risk and uncertainty. You are developing a vaccine against a target you have never used before. You are using platforms never used before to make a vaccine. I think this will take longer than a year. As a base case, i think it will take more than two years we need to figure out how do he we get through with coronavirus circulating before we can get to a jack seen. In terms of when we are ready to mass inoculate the population, it will be a while how much optimism should we have around that if you see where the stock market is today, there is a big bet that the world is back to normal in the fall there is an anxiety among people to get back to some sense of normal right bill talked about having an antiviral or a drug that is effective. I think if we have a couple of drugs that are effective but maybe not a home run cure, that will be enough and reduce a lot of anxiety and concern and maybe morbidity and mortality of this disease. You need to look at what will be available in the fall. There are a lot of drugs they are a longer way off. In terms of what is available coming, antivirals will be top of the list. In terms of how quickly that could get rolled out in some semblance of scale so that populations that are more susceptible to have access, what is your expect lags. I understand we want august but is that the time line it looks like all of these drugs are on to be tested and ready no. Thats what we need. It wont be available in the next four weeks for the people dying now. When it comes to september and kids go back to school and College Campuses restart and people go back to indoor spaces come july and august the risk is going to explode in terms of this virus having a risk of creating another outbreak or epidemic in the country. I would say we could get to a million doses a month. It is not a lot. If it could be used prophylactically or used in everyone it will be used for people who are high risk or people that come in to the emergency room with the virus you give them a dose early on. For other people, it is frobly not going to be available. Less related to what bill said, more with regard to what our viewers say, they say, i live in a place, not new york city, i live in the midwest, maybe, saying, i can go to work and stay sixfeet away from people, why cant i just do that speak to that issue and how you think about that i think it is eminently reasonable different places take a different look a dense urban area is a lot different risk than a rural environment. What i say about that right now, we dont know where the risk is. If we had a good Surveillance System and we were testing different parts of the country could take different measures and relax some of these based on the assumption that the virus isnt spreading in the community. People saying well it is not spreading in my community probably dont know. Final question. The ufc is planning to hold a match on an indian reservation to get around laws in california keeping people at home later this month it will be run by espn, owned by disney ufc owned by eyend every do you think this is a wise decision they say they can test everybody and no fans in the audience. It is unfortunate that some people have to circumvent what we have in place the indian reservations have been hit hard, particularly in the southwest. We have to be careful, we dont pull back some of these measures too soon we are going to pull out of this in april and come back to things in may i think they should be careful with regard to the time line here thank you so much thank you andrew, coming up, well talk about the balance of safety and performance on wall street a recording revealing the internal conversation at one bank as the virus ban spreading through the city here are some images of the Pandemic Impact from yesterday across america because theyre here. Working day in, day out. 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