And the nasdaq is indicated up by 66 points lets take a look at whats happening in the treasury market the other thing worth watching, wti, crude oil prices. Last i saw up another 7 to 31. 51, so seeing wti above 30 a barrel the tenyear note is yielding 0. 64 . Andrew thank you, becky. Hope everybody had a great weekend. We have an update as we do every morning these days on the pandemic lets give you the total numbers right now. Global cases have reached 4. 7 million with 1. 4 million right here in the United States. More than 90,000 people in the United States have now died from this virus changes are coming to our nations airports as well. The tsa reportedly preparing now to check passenger temperatures at about a dozen locations as soon as this week. Airlines have begun urging the government to take steps in an attempt to keep potentially sick people off planes and make travelers feel more comfortable flying again, which is going to be so crucial not only to everybodys health but to the economy. Joe . 06 minutes, digesting News Comments from fed chair jay powell he told 60 minutes that the u. S. Economy may not bounce back until there is a vaccine available. In the long run, and even in the medium run, you wouldnt want to bet against theamerica economy. This economy will recover. It may take a while. It may take a period of time it could stretch through the end of next year we really dont know can there be a recovery without a reasonably effective vaccine . Assuming theres not a second wave of the coronavirus, i think youll see the economy recover steadily through the second half of this year according to a transcript from cbs and a part of that interview that did not air, powell said that the u. S. Economy could shrink in the Second Quarter by more than 20 or 30 those are big numbers. I was thinking about last week, becky, and andrew, because we, you know, are there really weeks or is it just the alarm clock goes off every 16 hours and we do this again groundhogs day. The days are all the same remember saying, its friday night. Its like, yeah, that means wine just like all days that end in y. No, but thinking about last week, remember we had we were like hemorrhaging. Down like 700. And into the close, the last half hour closed down 500. Turned around. The next morning, the next day we were down like 450 and closed up 400. Remember that one . That was weird and that could have been much worse. And then even on friday, i think we were down 200 or 300. You know, all the days are and we closed up 271. Yeah, yeah. So, we close up 60 even though it was a down week, it was a week that i think there were some positive maybe underpinnings to the whole thing again. Im thinking about 2950 is where we were on the rebound on the s p and then it looked like we were heading back down because we did the 2850 bet on doughnuts and tacos and we got below 2,800. 2,770. Now were back im looking good, do i want the fire hot sauce or the extra hot . Sometimes i get the medium hot or whatever. Now im starting to becky is not picking out a dog. The gerbils will have to do for the kids for a while without the hypoallergenic dog. To be honest, i dont think we can keep anybody else alive in our house at this point. I cant imagine ive been thinking about that, too. My kids are older. What are you doing, sorkin what do you do are there any Jigsaw Puzzles left that havent been have you seen the legos behind me . The display grows every single week. What do people with four little ones, theyre just like ready to, i dont know, check themselves in somewhere, the looney bin with kids that young it must be very, very difficult, right . Andrew, whats your secret thank you for your sympathy. Do you have a trust bubble set of nannies or something . I mean, what do you how are you how does someone really well off handle this were all trying, joe were trying its tough its tough for anybody you know what, we are so blessed, all through three of us are so blessed no complaints, no complaints. You read the statistics, read about 90,000 people dying. Thats bad. Its a microcosm the deaths are horrible. All the families affected. And then you also have people that, you know, food insecurity, people that are unable have no idea where their rent is going to come from, people that the jobs theyre not laid off anymore, theyre furloughed. Theyre not going back to wherever they were i dont know that raises Big Questions about the overall economy and whats been happening on that. Going back to jay powell and the comments he made over the weekend, you know, at one point he talked abouthow potentially the economy might not get back to normal until you actually have a vaccine that works. There was also the Federal Reserve on friday that put out a report saying that very interestingly, its these companies that had taken on too much debt, Overleveraged Companies are still the big concern for the economy Going Forward. They even said some hedge funds may be part of the problem with what happened with market dislocations they said some were severely impacted and might have been the reason we saw the big selloff we did. Right we know how Pershing Square did pretty well. Thats one there were others, im sure at that point anyway, the vaccine stuff every day well hear things. Maybe well hear something today. But its moving very quickly hopefully. I dont know whether we every did it this way where youll make a huge batch based on assuming its going to work because of you know the science. It wasnt like that before. And maybe not. Well probably have several vaccines. If you make it before if you dont wait to start manufacturing before everything is you have phase one, two, three, safety, efficacy, all that stuff thats an interesting way to do it make a lot of it anyway, and theyre willing to do that and spend whatever it takes to have it ready if it is effective. Maybe the timeline they said in some cases you may be it will be shortened in some cases youll need two doses so theyre ready to ramp up on a lot of different fronts, more than one vaccine candidate. Well see what happens with that. Were also watching shares of Goldman Sachs this morning it, under pressure after an announcement late friday from Warren BuffettsBerkshire Hathaway it slashed the bulk of its holding during the first three months of the year that investment dates back to 2008 during the financial crisis when berkshire sold more than 10 million or when berkshire gave 5 billion to Goldman Sachs and if return got Something Like 13 million shares. Yeah, 13 million shares as part of that entire situation they dumped more than 10 million goldman shares bringing its holding to 1. 9 million shares at this point goldman sac maman sachs shares n 30 in the First Quarter andrew thanks. Meantime, this is weve been talking about softbank for so long this is a moment thats going to be written down, i imagine, in the history of softbank. Alibabas founder jack ma stepping down from softbanks board of directors after 13 years. This is the latest in a string of highprofile departure from the bank giant this is coinciding and might be the historymaking part. Softbank record13 million loss mostly tied to its investment in we work, one of the topics we talk about almost daily. The wall street journal reporting softbank is looking to sell stake in tmobile to Deutsche Telekom so softbank has been under a lot of pressure from Elliott Management a lot of things happening there. One more store in the deal world, the wall street journal reporting grubhub has rebuffed ubers latest offer. Weve talked about the back and forth and difference in price. The talks over the weekend and grubhub deemed the latest offer of 1. 9 uber shares for each grubhub share as being too low yesterday Amy Klobuchar blasted the merger talks calling it bad for competition and for consumers. She tweeted, if uber takes over grubhub, it isnt good for competition and isnt good for you. When Big Companies corner the market it usually means more for them and less for you, especially in a pandemic thats why im challenging the Trump Administration, the antitrust enforcers to do something about it having said that, i would say to Amy Klobuchar that Silicon Valley investors and well, investors writ large have been subsidizing all of this for all of us for quite some time and the consolidation probably has to come to the market at some time otherwise the economics of it dont even work to begin with. Good for you. Good for you a little bit difficult. Its a hard one. Its a hard one. Competition is important we want lots of competition. What you want in this case is probably two or three really strong players who can actually compete against each other instead of four or five really weak players that are all falling over each other and will ultimately fall down if something doesnt happen. Its all about each specific instance i guess im looking back at some of the lunacy or benatilty with Elizabeth Warren or with all of them. Cant do any of them you need to do it individually there are times where either youre going to be left with zero companies because its just not viable or left with and sometimes operations are rational rationalalized sometimes not everyone from both companies gets to stay, but, i mean, its just the way things you can go back and look at history and see that there are times where you need to do it and maybe some that dont work, some that do but a blanket statement that youre not going to allow any of them to happen. I think shes wrong. I think she probably wants to be Vice President and likes to get out there. I think its wrong and i think youre very gentle you said how did you you used one of those phrases about you said it and then you were going to disagree with it whats that you read what she said and then you go, i would just add that and then you sort of pushed back on the other side in a very gentle way because shes im a gentle guy. Joe yes, becky. Can i just say, i agree with you wholeheartedly on going against what aoc and Elizabeth Warren were saying about how theres no need for any mergers. In this case i do have a few questions simply because i think the risk is the restaurants on the other side are the ones who very much get squeezed by this, too. If you talk to any restaurant who uses these things, they tend not to be that profitable and theyre not in a position to have a lot of wiggle room. It was interesting when we had dara on in the last week, he talked about uber eats and said right now theyre still not profitable things are looking better. People are using the service much more frequently but uber eats itself is not profitable. Thats the problem. None of these businesses you definitely have to have consumers paying more. The answer is going to be, they need more money from consumers and more money from restaurants. Thats a tricky proposition. 100 . Charge a real price. 100 . When we come back, dr. Scott gottlieb will join us. Hell weigh in on what the cdc should be doing to help doctors on the front lines of the fight against coronavirus. That is next and get ready for a busy week of earnings weve got a read on the first coronavirus quarter from some major retailers this week. Names like home depot, target, lowes, tjx all set to report tomorrow at 6 00 a. M. Eastern time across america, Business Owners are figuring things out. Finding new ways to serve customers. Connect employees. And work with partners. Comcast business is right there with you. With a network that helps give you speed, reliability and security. And enough bandwidth to handle all your connected devices. Voice Solutions Like remote Call Forwarding and readable voicemail. And safe, convenient installation. When every connection counts, you can count on us. Get the connectivity your business needs. Call today. Comcast business. Welcome back, everybody. In his latest oped, former fda commissioner dr. Gottlieb focused on the cdc he says the agency needs to streamline and publish clinical date to to help doctors on the front lines. Dr. Gottlieb joins us and hesst also a cnbc contributor. Thanks for being with us this morning. Thanks. Lets talk a little about this oped i think its unusual for you to be so pointed in criticism of one of the other agencies because having led the fda, i know you tread very lightly on this thats why what you say, i think, we should all take to heart on some of these issues. You say that the cdc really needs to do more to be helping thedoctors on the front lines. Just in terms of some of the information thats been collected. Can you be a little more specific and explain to the viewers. Its unclear why the cdc hasnt been reporting as much as it should be or could be in this Public Health crisis you typically would see cdc put out weekly data, the reports they issue that would effectively be the collected Clinical Experience in the United States of how patients are doing with covid19 so, remember, we now have about 1. 4 Million People who have had the infection. Many more than that, actually. Were probably missing a lot of diagnosed cases. Weve had hundreds of thousands of patients hospitalized, more than 90,000 dead you want to see reporting from the cdc that starts gate that information and basically put out reviews and series detailing what patients were hospitalized, what their condition was, what interventions they had and what outcomes they had. You cant do exquisite Clinical Research in the setting of a Public Health crisis, its very hard, although were doing a lot of it. What you want is that bottom line reporting on how patients are faring china put out good data in that regard the United Kingdom has put out good data. We have put out very little of that data. I think the syndrome with the children thats been in the news recently where you saw new York City Health officials put out bottom line data and you saw italy put out some of that data and the uk reported on april 26th last week the cdc put out its first statement about that and didnt detail the different cases. Normally you would see the krthd put out the bottom line data and that can help guide clinical practices. A lot were learning about this virus as we go, basically through trial and error and word of mouth. Word of mouth and also through the internet you pointed out theres a lot of twitter threads and other thins doing this what are two or three of the things you think the cdc could have put out information on, things we learned about through word of mouth and, frankly, through talking to you early information about the blood clotting that doctors were seeing we now think a lot of patients who decompensated quickly, who got intubated quickly in the hospitals and their oxygen saturation, their oxygen levels fell quickly, some of those patients probably had blood clots that went into lungs we learned that and doctors are experimenting with different drugs which seem to be blood clotting platelets documenting that early would have been important. We now have autopsy data coming out of other countries looking at that. Thats an example. The inflammatory condition that you see some patients get where we think that part of whats making patients very sick is the immune system overresponding to the virus and actually attacking parts of the body and then the different medicines that doctors are experimenting with also what were learning about intubation, about putting patients are breathing machines. Were now learning we probably should be waiting a little longer and not being as aggressive to intubate patients. Again, if we had more information about the collected Clinical Experience in a systematic way, those insights could have happened or maybe happened sooner and we could have been innovating clinical practice sooner. Well be in good shape going into the fall because we know how to treat patients better but in the setting of this epidemic, that information was very slow to be aggregated. What do you think happened . The cdc fell down in terms of the testing and theres been a lot of back and forth how they were slow to this. To this point the cdc has been the Gold Standard around the globe. What happened . Well, i disagree with the idea they fell down on testing the cdc was slow to roll out that test. There were problems with that test that really wasnt the challenge we had with respect to trying to get testing in place early on to try to do what we would call sentinel surveillance, basically try to detect this virus early as it was spreading in the United States in small numbers even if that test rolled out perfectly and they had given it to Public Health labs, we still wouldnt have had enough testing in place what needed to happen is we needed to get the commercial labs and large Academic Center labs into the game earlier someone needed to call the ceos of lab corp some time in january or at least early february and say, hey, we need you guys to do this we need you to stand up your laboratories because theyre the only ones with the throughput to do the scope of screening to do true sentinel surveillance. Saying problems with the diagnostics and surveillance was the challenges had with cdc rolling out the test isnt the case. I read a piece that kind of walked through step by step and it looks like they crosscontaminated a lot of the tests they sent out. They were very slow to react to that very slow to pull it back. And didnt phenomenal through with some of the very basic things like you shouldnt be creating these tests and creating som