Yesterday. Nasdaq down 2 yesterday dow futures indicated up about 26 points, nasdaq up by 30 and s p up by two. The 10year is yielding 0. 667 andrew we have news out of washington to tell you about democrats unveiling a new 3 trillion spending bill including another round of stimulus checks up to 6,000 per household and extending the weekly Unemployment Benefits that would go through january including 107 trillion to stabilizing rent and mortgages and a cap on state and local tax reductions for 2020 and 2021 of course returning the tax bill that hurt hightaxed blue states that hurt them the hardest saying the relief bill is a big ticket for a big problem House Minority leader called the bill a waste of time and an 1800page of liberal wish list with no chance of becoming law the fight begins the latest update on the efforts to reopen america. California governor announcing next phase of opening including some malls and museums offices that cant telework would be allowed to open with safety upgrades. Shopping and strip malls will offer curb side pick up. Carwashes, pet grooming and pet washing also allowed to open the California State University system which runs 23 campuses is planning to hold its fall semester online. Some exceptions for inperson activity Like Research labs. Dims the prospects for college f football in the ball the president of the ncaa doesnt see a scenario where athletics take place if students cant return to campus a lot swirling yesterday with the hearings, remote hearings and very somber sort of tone of what happened in the stock market in the last hour. Others pointed out that faucis job is to talk about public health, risk, mortality and morbidity. Not necessarily to mix that all in with the steps needed to reopen the economy he was very up front about that he said that himself he said, look, my job is sto tell you about the implications of health. Other peoples job is to tell you about the economic implications the click bait websites, i cant help myselves. They are getting worse with the headline and then i read it and then it is like, thats not what they are saying, you are lying productivity is increasing with people doing their job from home did you read that one . Is that true well, yeah. Not commuting. Do you know how much time that saves people i just think when you go into the Work Environment so no one is ever going back to work. Twitter people are never going back to work im worried about you two im okay from here. You are okay from there well, hell, move to florida or something sorkin wants to go there a lot of reasons you know what im saying income taxes am i right or am i right right. Right. Im looking at you to see you in person. You are coming back well be back together im going to come back. Id like to come back. Do you really believe people are more productive . I do. For a lot of white color work, i think you can get a lot more done becky hit it on the head o often even during commercial breaks do we chit chat one exception is when you have kids at home it is difficult to work later in the day. It is fine when they are asleep. Tougher later in the day thats a huge issue. All these office workers. It wouldnt have been possible before but we are so wired in to where we work. Maybe it is possible it is just a whole new world andrew and i got an email yesterday concerning the wework interview. I wont say who it is from someone brought up an interesting point in terms of trying to get people to return to work, the real question is how do they get there. If you cant use public transportation, how do you get people in with Parking Spaces especially in a place like new york city. I think new york city may be particularly major cities where people genuinely rely on public transport, that would be the gaining factor for a lot of the reopening of offices and such do you agree what month is it . For large parts of the country where that is not the case, maybe a different story. We are soft we couldnt believe everything would be closed down now we cant believe well ever be back to normal. People in world war ii, they were in that mode for years and years and years. Men were gone. People had to do Different Things there were rationing it was never going to end. You must have been in a position then where you thought weve been at war my entire life i feel like we are getting in that mindset now that we never think well come out of this dont you think well come out of this and go, remember 2020 . We will but thats the thing. You will remember it this is lifealtering. This will go on for a while. Think about it without netflix and amazon a lot of people who are watching that but by the way, we are all blessed because we are still working. A lot of people are at home watching netflix because they dont have another opportunity lets talk opportunity right now. We have some news to bring you on tesla and reopening on this very topic a major update on teslas defiance of shutdown orders in california elon musk reopening under new safety precautions he received support on twitter yesterday from the president overnight, tweeting it received a prevention and control plan from tesla and helped productive discussions including some additional safety recommendations. The Department Said if tesla includes suggestions and conditions remain stable or improve, it has agreed the factory could operate with approval as soon as next week which would bring an end to musks defiance of the local order. The thing i dont know from what i understood yesterday, they had opened. I would imagine they are still in defiance or out of order for the rest of this week or is that not the case good question i dont know. I dont know either let me tell you about another story too. Hedge fund manager druckenmiller says the prospect for a vshaped recovery is a fantasy. He said the risk reward is maybe as bad as ive seen it in my career but the wildcard here is that the fed can always step up their asset purchases. That is a great example of how this is playing out. He said, hes not a scientist. Hes a common sense guy. He says, i just dont think you can take massive amounts of money and allocate capital to Zombie Companies it doesnt make sense to him it is an interesting study well get him to flush a lot of this out. I have high hopes in talking to him. You wonder, guys like that they dont necessarily want to be out and about all the time. When he has something to say, le say it but hed be on every week if he would agree to it but he doesnt. So im doing back flips. So hopefully within the next 10 days or so, well be able to talk about this at length on squawk box. Pretty pessimistic view though unbelievable. Nauseatingly pessimistic but realistic perhaps. Well see. Holds out the fed card too that word infinitiy comes up a lot. Speaking of. Speaking of, fed chair jay powell will be speaking today at 9 00 a. M. Eastern. Based on what we have been talking about, people will be listening as to any hint as to what will happen you can watch coverage on squawk on the street. Next, reaction to dr. Faucis warnings about opening the country too soon dr. Scott gottlieb will weigh in next futures down sharply late yesterday after the big sell off. I dont know, maybe weve moved past some of that commentary we saw with the senators. Well be right back. Its best we stay apart for a bit, but youre not alone. Were automatically refunding our customers a portion of their personal auto premiums. Learn more at libertymutual. Com covid19. [ piano playing ] so were working 24 7 toected maintain a reliable network, to meet your growing internet needs. Were helping customers who are experiencing Financial Difficulties stay connected. Were increasing internet speeds for low income families in our internet essentials program. And delivering selfinstall kits to your door. Nos comprometemos a mantenerte conectado. Were committed to keeping you connected. For more information on how you can stay connected, visit xfinity. Com prepare. If that occurs, there is a real risk you will trigger an outbreak you may not be able to control, which in fact would set you back not only leading to some suffering and death that could be avoided but could even set you back on the road to try to get economic recovery. It would almost turn the clock back that was the warning to congress yesterday from dr. Fauci. Joining us now dr. Scott gottlieb, former fda commissioner, cnbc contributor and serves on the board of illumina and pfizer. He was talking about the schools opening them in the fall, the headline was opening them was a bridge too far what he actually said was hoping to have a therapeutic or vaccine to allow the bridge in the fall was a bit too far. He went back to qualify it saying, im not saying it is not going to happen with a lot of safety measures. Im not saying we are opening in the fall i guess, a lot of times, scott, the news, if the house is not burning, it is not worth reporting. A lot of times, we seize on things that is the worst possible spin to put on everything i wish we wouldnt do that we call it click bait on the internet it was still sobering with the qualifications yesterday even for you, it was sobering. Youve been pretty sober i think he was clear enough with respect to what he was saying about the schools he said we werent going do have a they are forapeutic i think he said we are going to try to open schools in the fall, residential schools in the fall. I think well see cases in the sum were a seasonal effect cases will go up as we reopen. As you look at the twoweek data nationally over the last two weeks, you are seeing some flattening across the country and the number of states that have expanding epidemics go down there are some hopeful signs that the epidemic could be peaking. They are showing declines now for more than two weeks. There are some hopeful signs as we reopen, cases will go up you look at states like florida and georgia. They reopened. We havent seen a sharp uptick of cases well see. Can you make an optimistic case here as well as a pessimistic one. We are not in great shape. We have a lot of infection you are seeing signs of slowing. How long does it take for some type of antibody to use in conjunction with remdesivir or plasma or something. Can you fast track that more quickly than a vaccine, cant you . Yes the doctors when you talk to them i was on the phone with some doctors at hopkins and they are hopefully of using plasma maybe even prophylactically. It is not very efficient you need a lot of sick people around to get the plasma but the antibodies which are equal to taking the antibodies and manufacturing them at scale, we should have those in the fall theyll be in the clinic in june by at least three companies. Lily, amgen is a little behind they could be available under emergency use in the fall. We largely understand the safety profile and so you are looking for the evidence of benefit to try to make them available under the authorization. With he could have these in the fall that combined with remdesivir and a broad screening that could take place one headline was that statement that they plan to have up to 10 million tests a week available in the fall. That is a goal. That might be conducting those 10 million tests a week. That is a very robust testing form well be in good shape well be in better shape as well doctor, it would be great to have 100 of the population immunized. That would be great. What if you knew there was a cocktail where you werent going to die even if you got it bad, even if you were not one of the 85 that had a horrific level of the disease, what if you had a cocktail that is something you could start. We wont know until you see the flash of such and such company that has the report of phase one or phase two that could happen between now and the fall that will happen. Well have therapeutics before we have a vaccine. Cramer said it, you take death off the table. There is a lot less anxiety. In the same vein, dr. Gottlieb the antivaxer movement seems like it has gotten louder. A lot of people dont want this and say they think the gates foundatio foundationd is out to get them do you worry about those who woech wont take it. I think enough people will get vaccinated and wheel achieve herd immunity. There will always be people who dont get vaccinated take the flu vaccine people should try to get the flu vaccine early. But people wontget vaccinated for covid19 therapeutics wont be fool prove. Well see reductions in fatality and icu stays. It will take some of the sting out of this zedisease and make more livable something we are still worried about and perhaps not as fear some as it is right now. Thank you we look forward to our next visit with you becky. When we come back, some optimistic news from the mayo clinic we have that story next. And later, well talk about the news overnight that tesla may have soon reached an agreement to keep its factory open with the blessing of local authorities. First, a look at images from the pandemic across america. Flexshares may look simple on the outside. But inside every etf. There are untold hours of careful construction. Infinite what ifs . And contingency plans. Creating funds that help target gaps in client portfolios. Tap untapped potential. And strengthen confidence in you. Flexshares. Powered by over a century of investment expertise before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. We hope you find our digital cosolutions helpfulormation. To bank safely from home. Deposit a check with your phone or tablet. Check balances, pay bills, transfer money and more. Send money to people you know and trust with zelle. Stay safe. Stay home. Together, well get through this. Pnc bank welcome back some optimistic news from the mayo clinic. Cardio s cardiovascular chair saying using an artificial analysis of the ecg developed at mayor the tool runs to determine the probability of dysfunction or just means it determines if you have a weak heart pump saying this is important right now because of the heartrelated risk of covid19 patients. An example of great advances but also the fda stepping up and maybing sure they are moving quickly to find ways to address those. Just makes it even scarier that youve got to basically have a degree of biochemistry and Computer Science and a couple of Foreign Languages maybe. Amazing what they can actually do. Yes taking data and looking at really big data and looking at the conclusions that you can derive from that and going back and seeing if there were signs you could have picked up along the way. Especially in Drug Development and Everything Else. Weve got a lot of technology in terms of monthly he c moleculr technology and you need a super computer to hash through it. Andrew, thats a different color shirt . Is that the same blue . I have various shades of blue i am going to say now. These people that think you are not changing your shirt, it sort of makes me angry. That is a different shirt. I wear a different shirt ever day. They all look similar but technically different shirts. That is different than the one you have been wearing an extended period. They are clean. Cleaned and ironed i promise. Are you lululemoning every day or do you put on your fancy pants without the belt i have worn jeans some days and these other pants. So it is not only the lululemons that, i only have one pair of something called the internet can you order things whenever you want and theyll bring things to your house im learning something. When we come back, so much more to talk about. Well talk about the way health care is changing in response to the pandemic including, we will offer some telehealth that has revolutionized things. And before we head to break, well look at yesterdays winners and losers these days, its anything but business as usual. Thats why working together is more important than ever. At t is committed to keeping you connected. So you can keep your patients cared for. Your customers served. Your students inspired. And your employees closer than ever. Our network is resilient. Our people are strong. Our job is to keep your business connected. Its what weve always done. Its what well always do. Welcome back to squawk box. Weve been watching u. S. Equity futures. Weve seen some green arrows pretty heavy pressure on stocks which were down. S p down 2. 1, the nasdaq off 2. 2. The dow off and the dow indicated up by 450 points new this dornmorning, zocdoc providing more virtual appointments as people around the country remain under shelter in place orders. Joining us to talk about it, the founder and ceo of zocdoc and tuili os ceo. Oliver, lets talk about what this program is and why you are launching it now i think doctors wont have to pay anything to sign up for this, correct . Correct it is a Telehealth Service doctors can use for all patients the doctor doesnt need to be part of the traditional offering and be available on the marketplace to find new patients we started offering telehealth that doctors used all kinds of Different Solutions we were happy to support but frequency not happy with those we traded for this hippa compliant, easy to use application. In two months, nobody has gone in for poappointments unle an emergency what are you hearing from doctors now . Initially, they were under an enormous amount of pressure and saw volumes decline in lock step with the lockdown. Weve seen many of them that had previously not considered a telehealth, then quickly switched over and now telehealth is 30 , 40 up from zero in february, essentially. It turns out both doctors and patients really like telehealth. We believe it is something here to stay. The crystal ball here are states that have already reopened where we see in person volumes have come back to pre covid levels where we are seeing an additional 20 to 25 of volumes that come in through telehealth. Jeff, youve got some heavy lifting you are responsible for. I would imagine this is such private information. How do you make sure you dont have the type of troubles zoom has run into a lot of people are getting on and finding ways that some of that data can be compromised absolutely. Private Health Information is important to protect we have spent the last few months making sure our application is hippa compliant we are taking all of that information and making sure it is encrypted making sure we have medicalgrade access controls. Just like if it were at a hospital or medical records company. Our platform is made for this work load based on the fact that we can be embedded into a solution like zocdoc and because our applications are made and encrypted keeping Health