The 10year is yielding 0. 75 . Well continue to monitor that as well. We have a lot of guests today. Including dr. Scott gottlieb who will join us in a couple of minutes. J js cfo, the ceo of moderna, ceo of related companies and the ceo of zoom. All in the next three hours. Andrew an update now on the pandemic in the United States. Now more than 582,000 cases and 23,000 deaths. North has 96,000 cases and 10,000 deaths. New york governor governor cuome numbers appear to have knocked off in new york. It was an accomplishment. A heck of accomplishment those Health Care Workers for the rest of my life, i will say nothing but thank you to them. I was not sure if we could keep the tide from overwhelming our hospital capacity. They did there is going to be no ephany or morning headline that says hallelujah, it is over thats not going to happen. Well hear more from dr. Scott gottlieb about plans to reopen the country and more about Governor Cuomos gathering of states on the east coast to discuss how to do that well talk Bank Earnings i was looking something up becky is going to talk about goldman. First earnings season will get underway with First Quarter results from jpmorgan and wells fargo. Before the opening bell, goldman, others will follow. Many are faced with biggest challenge with Interest Rate near zero and the pandemic nearly closing the economy expect earnings to drop 23 . The Kbw Bank Index tumbling nearly 73 a new note out of goldman. The bank suggesting that worlds major economy will be shrunking by 35 that is almost four times more severe than the impact of the 2008 crisis. From that note, saying though the number of new virus cases appears to be peaking globally, the bad news is, this is their quote, the improvement is likely a result of social distancing and could reverse quickly if people just went back to work. What do you think, joe i feel much better this morning. Im not sure im afraid to feel good anymore. In europe, things look a little better some of the hot spots. We were expecting a rolling, every part of the country to be affected and maybe that being mitigated by the state at home im hoping the mortality rate is way below what people thought. I dont know i watched it play out. I told you this, i think the day we had closed the night before on the s p down about 19. 5 . The futures were called down about 800. Coming on and said coronavirus is going to put an end to the 11year bull market. He knew we were going to be down more than 11 . A week later, market watch writes analysts that have predicted coronavirus now very bearish near term. The way they said he predicted it was so lame i dont know whether goldmans people put it out. I almost said, you know, buddy anyway, the latest yesterday, goldman sach abandoned his view. Said the bottom is now in. The call of the day from the strategist says the worst is behind us. The down side we have from 2000 s p is no longer likely. The guy who called the end is now saying that maybe the worst is over. I love the way that you can do things like that go ahead i was going to say. The thing i was watching that made me feel better. Hearing things from Governor Cuomo made me feel better. Amazon is telling Third Party Shippers that soon theyll be allowed to send nonessential goods back into their warehouses i think those are the people who are really seeing the spikes in demand ill back all of this with the idea that we really need to listen to the scientists and the doctors because if social distancing is working, fantastic. But i will say, i was feeling more hopeful looking at a lot of things last night too. Becky, it was three weeks ago or so that we knew about the total number of ventilators in the United States and Governor Cuomo, he was taking the worst Case Scenario. It looked like we had 5,000 ventilators and we needed 40,000 it was scarey and rushing to meet that demand i think we are in a better position now im not sure anyone is going to get turned away in the United States for a ventilator. Ppe. There is not enough tests. They are not coming back quick enough but caught up pretty quickly. Ive said all along, the world only ends once and hopefully this isnt going to be it and maybe we are starting to see the sun come up a little bit cram craemer feels a little better too. Dont you hope theres a summer . I nhope there is. We want to listen to the doctors and the scientists on these things see what they are saying there on the front lines and hearing directly about what is happening. I dont think every state is in the same position. What theyve done and what they are doing seems to be helping and working. Thats great news. Let me tell you about the other story go ahead. I was going to say. The stock market, it is not the same as the underlying economy or the pandemic. Thats been acting a little better nothing good in terms of fundamentals i dont know how we ever reopen anything or go to a movie again. I dont know how we get answers to that stuff. Hope springs eternal well have moderna on today. Well see. Lots to talk about. Let me tell you quickly about roku shares. They expect First Quarter revenue to be higher because of a whoping 49 inkres in streaming hours in the First Quarter. It gained 3 million active accounts since the beginning of the year thats another conversation well have theyve been seeing a lot of things happening in gaming well talk to him about what is going on and how you monday ties so some of that and more countries extending the lockdown to the end of may plus well talk to dr. Scott gottlieb about the efforts to flatten the curve here in the United States. Thats next on squawk box. Welcome back a quick roundup of pandemic across the world global confirmed cases have reefed 1. 9 million with 113,000 dead in russia, cases have jumped up to 20,000. France finance minister updating the fraction now estimated at 8 contraction this year. The french president said hes extending his countrys lockdown until may 11 the uk reportedly announcing it will extend the lockdown three more weeks as well india has extended its lockdown until may 3. In china, exports fell 6. 6 in march and imports fell nearly 1 those declines not as bad as economists had expected. Good news, bad news continue to roll these deadlines and stayathome orders continue on as well new york Governor Cuomo said the worst is over in his state as long as mitigation efforts continue joining us now, former fda commissioner dr. Scott gottlieb. Dr. Gottlieb, joe and i were talking about how we feel a little better. Are you feeling better too i am. Modelling continues to show improving across the United States even states like texas and georgia havent seen a growth of cases. It does seem like we are turning the corner nationally. The Pacific Southwest and tristate area are coming down in terms of new cases. I guess the next shoe to drop is what if we stop some of these. Are we going to see some of these big outbreaks again . Well, i think well open in may and gradually reopen the economy. I think if we do it in stages, the summer is a backstop when you get into the deep summer, that will be some what of a backstop of transmission. Transmission isnt as efficient in hot, humid weather. I think the risk we have to be worried about is the longer term what happens if we return to the fall we come back to the fall and if there are outbreaks again. We are seeing resurgence in the uk and hong kong now where they are shutting down he can fomic life in singapore where they are closing schools and transport and mitigating the bigger resurgence of cases in that country. This will be with us until we get a vaccine. We need to learn to live with it and change aspects of our life that wont be too intrucive. There is a risk that this comes back and wants to come back in the fall it is a very contagious pathogen it will probably want to come back in the fall and winter. That may be the most confusing aspect of things are you allowed to go on a walk with friends six feet apart, can your kids hang out with their friends . Everybody agreed we are not going to do that for a while once you start opening this in stages, it opens up all the questions of what is safe and whats not does that mean we dont go to big basketball games or stadiums, does that mean my kids dont play sports . What are the levels we are talking about. Does that mean we are not hanging out with family or my parents who are older for the holidays once again . I think it will be reducing travel when we can not take unnecessarily trips it will reduce spread. I think people will come out of this concerned about the spread that it is going to change behavior in ways that are subtle probably the risk right now of spread because we are declining is a lot less than the risk was late february or march when we didnt think there was an emdemocratic and people were taking precautions now people are being more careful. This is going to be with us. Im hoping we have a better tool box to better spot outbreaks that are small and others who become ill and show up to mitigate the severe impact it will be hard to develop those in the summer. Im hopeful we get it. An interesting study of women who presented for delivery in one new york City Hospital where they found 15 of the women were positive for coronavirus thats a very High Percentage and suggests in these hot spot cities the overall expose youre might e quite high you might have more immunity in those cities doctor, back to beckys question about kids and grandparents when it comes to even this summer, assuming we are not quarantine or staying home but we are going to work, Wearing Masks and trying to be careful given the risk, would you let your kids go hug their grandparents those are the kind of things people need to contemplate carefully. People who are older or have medical conditions that would predispose them to a bad outcome. Well have to start living our lives again. We have to do things to be careful. Wash our hands take our company all of those things will mitigate spread. We have to go back to living our lives. Doctor, whats the calculus you are the doctor as a person who wants to know. Can kids not only go into a room but have physical contact with somebody over 65 or 70 years old . How would you even think about that what would you tell your own family if im reasonably confident this isnt spreading at epidemic levels and my kids are otherwise fine or healthy, im not going to be concerned about them being around their parent whos are older. Im going to let them play with their friends. Ill be more careful to mitigate another question. Do you get normal antibodies that make you immune does the virus, if you are negative, do you stay negative ive read stuff that say it is akin to hiv. It doesnt go into genome and reside there, permanently, does it it is not clear there are some studies that show perhaps there is react vags. It is not clear if those never cleared the virus. We need to do sequencing studies. There is immunity. People develop antibodies to it. How long that lasts is unclear probably a year or more. It might be a little less in some people. Even if your antibodies weigh in over time, you probably have cell immunity. So next time you get infected, it is less severe. Data suggests that now dr. Gottlieb, thank you well see you again tomorrow thank you for the update thanks a lot. Got to get there here we go it is tough. Okay coming up, the earnings count down is on well hear from jpmorgan and N Johnson Johnson in the next half hour some images of the Pandemic Impact yesterday across amicera. Our Retirement Plan with voya gives us confidence. Yeah, they help us with achievable steps along the way. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. When yowhat do you see . Itical issues facing our world, we see breakthrough medicines getting to patients in record time. We see harnessing natural gas unleashing the promise of clean energy. We see engineers simulating the future to improve today. At emerson, when issues become inspiration, focusing core strengths to create a better world isnt just a result, its a responsibility. Emerson. Consider it solved. Heres the thing about managing for your business. S when youve got public clouds, and private clouds, and hybrid clouds things can get a bit cloudy for you. But now, theres the Dell Technologies cloud, powered by vmware. A single hub for a consistent operating experience across all your clouds. That should clear things up. The earnings season will be different from all overs and give a first look at the impact of the coronavirus shutdown. Joining me now with more i saw you earlier today on worldwide exchange. Yes this has been an early call for me the past few weeks trying to get everything going im one of a handful of people in our studio. It is pretty empty these days. Weve been grappling with the same story trying to find clarity around what is going to happen with coronavirus. The earnings season coming up will be very heavy on banks but more focused on commentary around what banks see financially and economically around the virus itself. A number of these banks and two dow components if you take a look at the picture for these banks. Tuesday, wednesday, thursday, friday, various banks from Money Centers to citigroup to investment banks, state street all providing a different picture for different parts of the market credit risk will be a huge factor coming up if any of these will see a huge impact for customers. We have 24 s p 500 components reporting and four dow kpo components also Johnson Johnson later on today. Youll have the health care and financial view of those four dow components it comes down to whether any of these companies this time around will be able to provide any kind of clarity for many of these with a lot of u. S. Exposure, we are going to see a lot of these impacts the shoutdown didnt happen until the middle of march. What some of these companies can do, andrew, becky, joe if they have china centric operations, this past quarter may show some of the reopening of the chinese activity. If you are looking for a possible blueprint, look towards some of the companies in the past we are talking about Companies Like caterpillar, apple, nike, tiffany, starbucks, mcdonalds. Many of these may be able to provide a glimpse of what happens when these reopen in this earnings season back to you. Thank you a lot of earnings today. Talking to a Small Business owner. Joining us next to talk about the challenges of that april and others in his space are facing bringing you a first on cnbc interview with the companys cfo 0 erys ok at yestdas p 50winners and losers at t has connected us every day for over 100 years. And were here for you especially now, doing Everything Possible to keep you connected. Through the resilience of our network and people. We can keep learning, keep sharing, keep watching, and most of all, keep together. Its the job weve always done. It is the job we will always do. Welcome back. Take a look at u. S. Equities this hour. We have some green it looks like the dow will open up about 337 points. We are talking to Small Businesses across Different Industries battle the coronavirus challenges this morning, we are talking to ken notori 43yearold family business. Best known for sleep wear and loungewear wholesale distribution makes up the majority your bottom line. The question on everybodys mind is i assume they are canceling orders yes andrew, we have wholesalers we sell to. We are a highend manufacturer and supplier of womens sleep wear, we sell to sax, neiman the question is not when they will reopen. When stores do reopen, how much are customers going to shop. Theyve canceled orders as far as to june and given guidance to further out in the fall. From running a buzz and trying to plan out for the rest of the year, there is a lot of question marks maki marks making it really difficult to plan. The e commerce business, does that mitigate anything for you guys 15 years ago, with he were wholesale only we developed natori. Com a thriving website we have seen a big pickup in dot com business with more people spending time at home, sleep wear and loungewear has become more important but it does not make up for the weakness we are seeing in the stores we have really seen the secular trend. It has been well publicized away this has been a skplecomplete acceleration away from stores even when they open up again. To that end, do you think the Department Stores speak to it whatdo you think happens all of these companies have great leadership theyve really tried to pivot. They have all invested heavily to their dot com businesses and tried to innovate and stay ahead of the curve but that curve is very difficult and challenging brands like us and Department Stores know this is going to even accelerate further that trend. All of these stores dot comes have been doing well im sure that will continue. The question is what is the right Square Footage and the right store count. I think theyll argue that pace at which that number is decelerating Going Forward will continue to decrease what is the balance between the number of stores and dot com, this whole crisis will accelerate the push fwoetowardse e commerce have you been able to get access to loans. I know youve been able to furlough employees do you think youll be able to bring them back . Is. I hope so wells fargo is our bank. We were put in touch with a Great Community bank in mississippi. That will help