Than a week. And in real estate, remaining a sellers market. That and more coming up. Good morning, good afternoon, good evening welcome from wherever in the world you may be watching. Im Brian Sullivan if you were hoping for another day like yesterday, you might want to get another cup of coffee things more se date. Futures are flat to slightly down futures are a little in the red. A far cry from yesterday where we had, in case you missed it, a 900point surge. That was that averages best move in more than a month. There is really three different pieces of news that gave investors peace to buy you had new numbers that show the fatality rate. Midto late march many states have reopened. Did not show big jumps in their new cases. Federal reserve chair jay powell, ill sum riz, the bank will throw an unlimited amount of money at the problem and Interest Rates are not going to move higher anytime soon hope around the vaccine moderna stock surging more than 20 yesterday. Shares up slightly today just off 1. 5 of the big rally later on, well show you who made a lot of money on that trade. It is not just equities moving up, it is oil. One month ago, we went negative because that may contract rolled into june today. A very different story youve got supply down 15 to 17 Million Barrels a day. Demand creeping up as people in the u. S. And other parts of the world start to drive again and refineries start to pump crude oil and gasoline our market and in japan entered yet another recession. Matt standing by in singapore with all the news you need to know good evening from singapore you are right, that optimism surrounding the virus really fuelling gains a lieutenaot of them up strongly japanese market up by 1. 5 we mentioned that data japan entering the recession the bank of japan will hold an emergency policy meeting on friday in the wake of that data we did get out yesterday we were watching earnings as well in japan. P panna sonic with a strop says that its tesla battery jv posted the Second Quarterly gain. Sony and sony financial. This is a big one. Shares up around 17 saying it will take full control of the lifted finance and tender off of 3. 7 billion. One sector that was a stand out in the region. Some of these travel related stocks the optimism around the vaccine, take a look at the performance of some of the airline names we saw the likes of asiana, korean, jeju air gains better than 10 and sharply higher on the optimism about a potential vaccine. We had the same thing here. Well show our viewers the same thing in just a minute now lets focus back here. More good news new data suggests that america is moving further in the right direction amid the outbreak. According to the financial times, there were just 786 new fatalities attributed to covid yesterday. Yes, that is still a big number and a lot of lost lives but the fewest number of people that have lost their lives due to the virus since late march rahel has more with us good morning. President trump is once again threatening to permanently end u. S. Funding to the World Health Organization in a letter to the group, the u. S. Listed several criticisms includes claiming the w. H. O. Ignored credible reports of the virus and accused of the organization of acting owe bead yan to china the president publicly revealing that letter. All of this comes after china pledged 2 billion to help w. H. O. Find a cure President Trump announced hes been taking the drug for more than a week this is a pill thats been used for a long time ive taken it about a week and a half hour and im still here he is in fact to the airlines, delta will add more flights in the plan to keep flights more than 60 full the move follows comments by ceo to investors that customers perception of safety will be key in the travel sector can you see that delta is unchanged. Rahel, well see you in a few minutes. Lets get back to the markets and futures. You cant expect 900point gains every day. Futures are down fractionally right now. This coming off mondays big surge. Most stocks did join in the buying as matt taylor mentioned the fund stocks are big winners and investors hope for the openings making more people willing to get back on an airplane, cruise ship, theme park look at some of these moves here yesterday. Spirit airlines up 25 , yesterday norwegian cruise lines 21 . Host hotels up 15 six flags up as well lets welcome our guest. Matt, it was sort of the fun stock optimism yesterday that played a relatively significant role what does you make of yesterdays Market Action that was not appearing at least until now through to today that was a good day you saw the internals on the market were very strong. A nice jump in volume. The breath was very good a much broader rally it took the s p slightly above on the side ways range about a month. If it can get any sort of upside follow through today or the end of next week, that will be bullish. At some point, the fundamentals matter i dont think well get that kind of follow through you think about some of these things with leisure names that did so well. Airlines are set up to run at full capacity. They are saying that things are going to improve but still wont run at 50 apacity that doesnt give you huge confidence theyll have a huge amount of follow through right David Calhoun saying a couple of weeks ago to the today show that he thought it was likely a big airline did fail it doesnt sound like he believed the carry through on big moves yesterday is likely . No. I just dont especially in the area like these leisure names. The companies are built for a different way. When the ceo of boeing talked about this, he didnt say they were going to go bankrupt. That theyd fail, theyd close they continue in the operations. When somebody like boeing makes that kind of comment, you have to Pay Attention you really do. When it comes to the overall markets, this is kind of unbelievable checking it out and with all these big moves weve had, weve effectively gone nowhere on the s p. Big moves relatively where we were anything showing we are in some sou sort of positive basing and perhaps getting set to make another leg down what are you seeing there. As i mentioned earlier, if we can break out of the average just below 3,000 that will be bullish the market was priced forp perfection any time theyve been able to come in and fix both market problems this time around, theyve only been able to stabilize the markets. With all of the companies sitting at so much debt, record levels of corporate debt they need revenues they need those if they want earnings to go back to what they saw in 2018, 2019, which was already priced for perfection. It will be tough for the market to rally a lot from here point taken we are watching those reopening states so far, not a huge jump. Like you, im working hard on my mullet oh, geese have a great day, buddy mixed signals from u. S. Housing market some areas seeing a buying boom while millions of other people have stopped paying their mortgage the nasdaq reportedly rewriting rules to list and potentially singling out the companies from jay powell, steven manu chick, evanka trump and tim cook, it is an ee interestin g day. And more from jay timmons after this it nourishes and strengthens my joints for the long term. Osteo biflex. Plus vitamin d for immune support. Osteo biflex. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Good morning like so many other things, even the Housing Market has broken down to two distinct camps as many as 4 million American Families have stopped paying their mortgages. Real estate firm red fin says some markets like d. C. Are so hot, they cant meet up with demand diane will take it away as i promise not to say real estate and red fin in the same sentence it is good. We do need more inventory. Well get the Housing Starts later. But april may be the worst of it the expectation is for housing prices to drop 26 permits which are and indicator of future construction are expected to fall 27 builders were already seeing a turnaround in demand by the start of may according to ceos and Quarterly Earnings results after the sharpest onemonth drop, Builder Sentiment opened up pointing to record low Mortgage Rates and supply for existing homes for sale the etf closed up nearly 9. 5 led by names like kb home and pulte group. Moving above average for the first time also easier to sell a newly built home compared to existing homes. Because builders have models existing home sellers dont have that option until the home is empty. They are seeing high demand from current renters looking for more space and new space no one else has lived in this is not to say the Housing Market will not pop back to where it was but economists are looking for Home Builders to lead the economy into recovery, brian we just need more homes whether or not thats a new build or deciding somebody will sell whether here or there in d. C. , they want kids to have a yard they dont want to see a fall resurgence, they want more space. We need more homes for sale. Absolutely. Even going into this year before this happened, we had a record low supply of homes for sale demand was incredibly high we had a Strong Economy and low Mortgage Rates we have millennials who waited lo longer to buy homes and were flooding into the market that demand that is pent up will come out we do need more homes. Is it going to be all the builders weve had all the layoffs and weve not ramped up as much as we thought they would. Quickly, what are you hearing about mortgage available if you have an 800 credit score, youll be able to get a mortgage it is loosening up. It was very tight. You talked about the forbearance numbers but it is loosening up slightly we are hearing that from the builders good news for housing in some parts and touch for others have a great day thank you. Coming up, how tiktok is taking a page oust dez anys playbook and taking a disney executive along with it. Announcer todays big number, 30 . Thats how many of its stores jcpenney will close as part of the bank rruptcy plan. 200 stores this year welcome back and good morning. Dow futures were moving with a little bit of steam. Futures coming off the best day in little more than a month. Well keep an eye on that. Speaking of dow components, a big shake up at disney disneys streaming boss is leaving to become the ceo of tiktok once considered to be a candidate for the top job at disney but says this move has nothing to do from being passed over for bob chapek. Disney has named Rebecca Campbell to replace meyer. Owned by the Chinese Company bite dance hell also become the chief operating officer for bite dance as well. Speaking of china, the nasdaq is planning to tighten rules which could make it more difficult for Chinese Companies to list their stocks on the nasdaq reuters says the rules would require countries to raise some 25 million minimum in their ipo. The rule is not directly targeting Chinese Companies but comes after lucken coffee disclosed some had issues of sales. Other Chinese Companies have been d listed or closed up over their reporting. When we return, huge testimony taking place with jay powell and secretary steven mnuchin. And secondly, will the crisis help u. S. Manufacturing by bringing the supply chain back home well ask our guest when he inusft ts. Communities of color have always been underrepresented in the u. S. Census. That means less federal funding for schools, hospitals, libraries, and other Public Services for Diverse Communities and less representation in congress. This year, its critical that you participate in the 2020 census. Its safe and confidential. Lets make sure everyone is counted in our community. For more information, say census 2020 into your x1 voice remote, and to participate, go to census. Gov. After a 900point plus surge, will buyers keep coming in money man heading to the hill virtually, that is said to be grilled by lawmakers on the economic response to the pandemic and the lockdown. Home depot and walmart results on deck as a busy week of retail haves and have notes kicks into high gear on this tuesday, may 19 this is Worldwide Exchange on cnbc welcome back good Tuesday Morning to you. Im Brian Sullivan it is a very busy day from wall street to washington lets take a look at the stock futures, coming off yesterdays rally of 900 points for the dow, the best gain in more than a month. A fairly broad based rally airlines, cruise lines, things that involve Economic Activity were some of the biggest winners as well. We continue to drive more. Crude oil prices are up again this morning as well we are seeing that june contract roll to july today a big difference between now and a month ago because a month ago today is when we had that negative 40point print on Oil Contracts as they said there is nowhere to deliver that oil. Ill pay to you deliver that weve seen that demand come un that stock of the day could be from yesterday is moderna. Giving back a little bit with a 20 rally on up beat results from the phase one test and trial of its coronavirus vaccine. Moderna announcing a 1. 25 billion stock sale after the close that could add a little pressure to the stock more things out there, more available of equity. You might see prices soften up a bit. With yesterdays big run, the question is who made money there is fidelity and van guard. Harvard professor tim springer by far and away not a house hold name still a professor in harvard now the single largest individual share holder. After selling his First Company decades ago, the initial investment of 5 million he now owns 15. 5 shares according to data. With the move, that 5 Million Investment is now worth 1. 4 billion with a return of 28,000 and makes the harvard professor a billionaire. Now to washington with a busy day there. Youve got treasury secretary and fed chair on the hill, virtually. They will discuss the dispersement of hundreds of billions in Coronavirus Relief aid. The members of the white house work force policy Advisory Board set to meet today, entirely on line for the first time. Evanka trump will lead that with apple ceo tim cook, and jay will join us in a minute. Let us begin with that Powell Mnuchin testimony and what we can expect elon fromwid. C. With more a major focus is the massive new lending that was thoauthorid not just the 670 billion but also the 500 billion in the Exchange Stabilization fund that includes programs to support small and medium sized businesses state and local governments, airlines and corporate debt. It has written testimony that fed rates will remain near zero. They are confident it will weather the storm and use all of the tools available to it. It is worth remembering that the measures taken to contain the virus. We should do everything we can to provide relief for those suffering for the public good. You should expect lawmakers to push back on why a lot of this money appears to be held up only 37. 5 billion of that 500 billion fund has been dispersed so far treasury secretary mnuchin will argue that 200 billion has been spoken for and thinks the economy will start to get better in the second half of the year this will be oversight hearings, as you mentioned, no one will be there in person, this will all be conducted remotely. A virtually meeting with real money. Have a great day big day on capitol hill. Lets turn to the other big event in washington. That is the Virtual Meeting of the Work Force Policy Board led by evanka trump. The National Association of manufacturers jay timmons. What are you expecting to hear from that Virtual Meeting. What do you want to hear from that meeting today i think what we want to hear is that we are in a new phase of this crisis. We are in the recovery phase first and the renewal phase which is coming up, which means we are going to see this economy coming back. What does that mean for manufactures in particular it means we have to have skilled workers. Even with all of this horrible unemployment producing the way we will be soon, well need skilled workers to get the job done that has been the focus for ivanka trump it has been the focus to see the right skills to have our economy be the most productive ever. I understand how difficult things are out there in america right now with random shut downs and job losses my wifes company, they are trying to get someone done which requires switching manufacturers. We are in the middle of it around the dinner table. Do you see this driving what was happening during the trade war with a bush to restructure the supply chains out of asia and back to the United States . Could this be a longterm positive for manufacturing through all this pain . I think there is a longterm imperative it was like an auto accident, something you didnt expect. We were in a response phase to do anything you could to make sure the patient was still living now we are in a recovery phase now well do the right thing and take a moment to remind everybody to protect front line workers by wearing a mask wherever you go