The nasdaq by 173. There are reports of a new vaccine in the works word of anything setting back the virus is great news. Over the long weekend, people were out summer is around the corner. People are starting to feel that and that is showing up in the market again some big gains the last week of may treasury gains pushing up. 10year up 0. 7 . Right now sitting at 0. 695 . The big news is whats coming from that Biotech Company weve been talking more about. Absolutely. Hope everybody had a great weekend. U. S. Biotech company novavax said it started the first human study. The initial results they are saying in july the marylandbased firm saying upon completion of phase one, phase two will be conducted in several countries include ug the United States. That stock up more than 20 premarket but really giving rise to markets across the board as well as to what becky was saying all of the folk fols out and ab this weekend giving some optimism at least for a period well see. Maybe there is some optimism here joe . Yeah, almost at 3,000 on the s p. As you are pointing out, starting phase one trials. If we had a whole slew of people mad about moderna, that was phase one data early data that showed of neutralizing antibodies of eight out of eight and this is gates. A lot of his money went into this i think there are some viral proteins and something they put in to amp up the immune response no reason to think that this is some sort of crappy response well know by july they could make a billion doses by next year a lot of people working on vaccines i think even with moderna, it is not necessarily the specific vaccine or data. It is just that we have some of the greatest minds in the world well funded trying to deal with this wellfunded is the key. This is like a manhattan project. Look at you, you got a new background that has to help im right behind new time square cant you tell you know what, i was wondering. Dont adjust your set. You are close. No, im in new jersey more signs of opening the New York Stock Exchange set to partially reopen today under new rules. Only one quarter of the usual floor traders, roughly 80. Theyll have to sign legal disclosures, have temperature checks, wear masks and follow strict distancing rules. Nasent is a good word. I was thinking about if it does get really safe. There are some cdc data saying mortality is under. 3 a University Study saying that the virus could be gone by september. The singapore study they just peter out can you imagine. I dont know how you feel but can you imagine what well do if it is all clear . I might go out every night to a restaurant i have to say, i have cooked dinner every night the last 10 and a half weeks im so desperate to go out or even get take out. The closer we get to summer, you feel the desire to just allow things to go back to normal and get out of the house and do whatever can you do to get outside. One thing that concerned me over the weekend, the idea that cases across the nation dropped for two weeks but as things have started to open up, last week, they were back up. You cant look at one week and say this is a trend. But that is the concern. Just watching those numbers and hoping we can please get back to life as normal but just watching it so closely too. Penelope, if she sees another pot or dishes. Andrew, you are probably the same way you are on dirty dish beauty you probably dont want to see another pan with stuck on food im okay. So far, we are okay. Bark and order to all those safe People Living there where do you put all of them up . Where is the staff staying there is no staff, joe. No staff you are the staff becky, what did they do put up a big screen behind you . Yes it is really big in fact, i can change it around. Do you want to see the magic im going to get yelled at for this do you want to see it . I might mess it up could you be out on a beach somewhere . I can only be what theyve given me you cant change andrews no, i cant see ill pause this one. That looks like time square thats a good one. How is that i like it. Let me tell you about another story. Coronavirus cases surging in brazil now totally 335,000 now second only to the United States in total cases. The white house is suspending travel into the United States from brazil effective midnight tonight. Any traveler who has been to brazil will not be granted entry back to the United States. Qualifications that came in last night. They are still second to the United States and we are saying, no thanks. Stay home. Developing story in Hong Kong Carrie lam calling for calm early today after protests erupted over the weekend over the proposed new National Security law looking to quiet free speech. Well go to eunice yoon with more on this story that broke on friday and we ended up talking to Vice President biden as well. Yeah. That was a great interview, by the way. In china, the focus has been in honk cob they have been attempting to make the argument that National Security laws are necessary and ready for business the top military brass was quoted on state tv saying legislation would safe guard longterm prosperity attempting to reassure the people there that the citys freedoms wont be affected and the Chinese Foreign ministry will be trying to address the concern of the community and that independent jude irkry would be undermined and setting things right for the business. Many people unconvinced. Investors and property plays which have a lot of offices across the city were trading today at the lowest level since 2009 investors are worried about people leaving the city and capitol outflows the biggest concern has been about what the u. S. Would do next and will pull the trading status china has said it will take count country me country me country mess your measures joe, a big sorts story over the weekend. I was out and about they had these large animals that can either be outside blowing off steam or inside. It is not a good side. Like having kids or toddlers. They sound like they are going to kill each other sports star fans tune in biggest cable rating ever tuned into the Coronavirus Relief match featuring two amateurs and tiger and phil if you want to call tom brady and Payton Manning amateurs. The event drew 5. 8 Million Networks making it the most watched golf telecast. The four so many raised more than 20 million in covid relief they have like bunkers or it used to where it has wooden beams. If you get up against one of those, you have to play backwards or side ways well talk to Michael Rubin, a coowner of the philadelphia 76ers and fanatics and everything else. He can give us a good idea at the demand all these guys, they understand the demand they have some work to do to make sure we minimize some of the damage on the virus. There is another covid trial and dr. Scott gottlieb will we in on the novavax news next. Its not pretty good or nothing. Its not acceptable or nothing. And its definitely not close enough or nothing. Mercedesbenz suvs were engineered with only one mission in mind. To be the best. In the category, in the industry, in the world. Now, get 0 apr financing up to 36 months on most models and 90day firstpayment deferral on any model. Mercedesbenz. The best or nothing. 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. U. S. Biotech company novavax said yesterday, it started the first round of human study for a vaccine. With us, dr. Scott gottlieb. Cnbc contributor gates is involved with this. It is the beginning of phase one. We saw moderna had actual data just beginning the phase one trial. We always try to tie market moves to something a lot of times, its in our own mind if you think they are starting the phase one trial . Their starting the phase one trial in australia with 100 patients they are using insect cells to manufacture the protein. Different from the moderna approach using mrna and the pfizer approach. Remember fipfizer, which im on the board of is also in phase one study. The oxford vaccine partnered with astrazeneca and j j on line as well. This is good news. We have early data that show it should be possible to develop a vaccine against this so the insect makes a protein. What, one of the spike proteins on the virus you deliver the actual protein and how do you manufacture it in insects . It is biotech manufactured. They are using that cell line. It will be an injection based on two shots. A lot of these may end up being two injections why the adjuvent . An interesting requesting one reason to use it is to extend the supply, sonofi is doing that as well also doing it in their proteinbased vaccine. Novavax is also protenbased it may be that just giving the protein or the antigen itself will not be enough to generate the antibodies why you are siege Companies Using that as opposed to the mrna approach. Two questions for you first, when you go back and look at all of the scientists trying to solve the aides epidemic. You remember there was a lot ever money and people all over that and we never got there. I want to understand why you think this time is different hiv is a more difficult virus to drug. Coronavirus is a relatively simple virus, all Things Considered we understand the ways that the coronavirus rep indicats and weve targeted features. It doesnt mu tate nearly as much hiv within a much more rapid mutition the virus, it should be able to be targeted by a universal vaccine. Totally unrelated we all saw the images from the ozarks over the weekend. People playing, hugging. How concerned were you when you saw that i am concerned when people think this is the all clear. We do need to find a new normal. We need to go back too work and enjoy social activity differently. There is a question whether you are better off shrinking your Social Circle knowing you will not be able to fully social distance es smespecially if youe young kids i think people should think of fewer social gatherings and when you do, wear masks certainly, you see people going out in big social groups, arguably with people you dont know you saw some of those pictures thats a set up for a lot of risk you are not using Protection Equipment or taking precautions. Thats what i wanted to ask you about that the idea for two weeks as a nation, we saw numbers decline. The most recent week, we actually saw an up tick with people getting back out there. How much should we read into this or . A situation where you cant watch the week by week you with watch the week by week we now see a trend of the up tick of hospitalizations it is probably a result of reopening. We expected cases to bump up thats why they reopened in phases and assessed the data florida has an up tick no hospitalizations, georgia, virginia, mississippi, ohio, arizona. All going up the National Trend is a small uptick we have to watch this. The hope is a seasonal affect that will hopefully offset the increased social interaction that will cause cases to go up we get to july and august but we are going to see cases go up what is your thinking on the overall mortality rate ive seen 6. 6 do you think it is under. 5 at the moment the cdc model is about. 4 if you look at the total population of new york and the fatality rate, it is almost. 3 . It is going ble higher i still think between. 5 to 1 even if you assume we are diagnosing 1 of the cases certainly an infection mortality rate of close to 1 . As far as hiv, that is an unbelievable apples to oranges comparison of something that goes into your dna and will be there forever. I understand the question, andrew, it is just not even ballpark in the same sport i asked the question because i think there are so many viewers out there including myself who are not scientists who ask that question who are trying to understand the distinction. Okay. Keep talking never mind scott, thank you we appreciate it i think scott was making a quick point on that. I know. I know go ahead, scott. I was just going to say, i think the optimistic news is that the data we have in animal and human studies affirms we should be able to get a vaccine of this. We might need to go through juan more cycle in the fall until we get to a vaccine all right thank you, scott becky. When we come back this morning, chinese cities use Health Tracking apps to stop the spread of the virus. One city wants to make things permanent and give residents a score based on Alcohol Consumption and how much sleep you got last night usaa was made for right now. And right now, is a time for action. So, for a second time were giving members a credit on their auto insurance. Because its the right thing to do. Were also giving Payment Relief options to eligible members so they can take care of things like groceries before they worry about their insurance or credit card bills. Right now is the time to take care of what matters most. Like weve done together, so many times before. Discover all the ways were helping members at usaa. Com coronavirus 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. For a prospectus containing this information. Clean i a feeling. Its the satisfaction of upgrading to a bidet seat, just like that. And the simple joy of washing your hands, without ever touching a faucet. We think its the Little Things that matter. And we know you do too. Thats why we create moments to feel kohler clean, every day. Time now for the executive edge one chinese city with a proposal to permanently track peoples Health TrackingElectronic Medical records results, lifestyle such as sleep and Alcohol Consumption. This appears to be the first sign the tracking apps may become the new normal and a huge reason it will be very difficult to take similar measures here in the United States. The whole idea is a little crazy. A few things weve given up our liberties for if you use waze or other things that tracks your speed. The whole idea where Insurance Companies are asking you to sign up and say, okay, you can track what im doing some people have readily lined up for that. Even though the get back is relatively nominal it is crazy and the beginning to give away a lot. If you are asking people to give up more, i think youll have a tough time with it im okay being tracked. We think of everything in the prism of personal rights again the whole shutdown and you watch the way each side frames the whole thing. It is so strange how polarized each side is on the discussion im okay being tracked you carry a phone, they can track you. Weve seen the videos. They were tracking people at the beach in florida and how they went around the country and how they would couch those thins weve all given up more and more of our privacy with things like facebook and twitter i wonder how generational it is people younger than myself feel fine to give away stuff i might not feel comfortable with. They havent thought through the consequences a piece that certain generations have come to about privacy. Maybe they dont understand the implications i dont know ive always been surprised how much people are willing to give away. If you watch dateline, people know where you are at all the time if your phone is on. You know how they say, i was here and they go, there is a cell tower here and you were like two blocks away from this cell tower where this person was kidnapped. They know where you are at right . Got to wrap your phone in tinfoil, joe i wrap my said in tinfoil a lot of times more ahead on cnbc coming up when we return, more on squawk box. Take a look at u. S. Equity futures that are surging on vaccine hopes. Dow up 526 points right about now. Take a look at german traded shares of lufthansa. The company has reached a deal with germans government for a 9 billion bail out. The German Government will take a stake in the company they are taking equity they have agreed not to utilize voter rights this is bound to spark a debate of how we look at airlines we are right back. 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. And their financial wellbeing. Since our beginning, our business has been people. Its evident in good times, with decisions focused on the longterm. And crucial when circumstances become difficult. That continued emphasis on people our advisors, associates, clients and communities gives us purpose, strength and a way forward. Today. And always. Welcome back to squawk box. Lets get to this mornings big market move as we prepare to kick off the shortened trading week joining us now, citi private Investment Officer great to see you the market up pretty sharply this morning a gain of 530 points right now for the dow. People are feeling pretty optimistic how about you . How are you feeling . Always great to hear dr. Epstein come on line and tell us there will