It is not over. It is just beginning the days are long right now. We are going to take that. Im becky quick along with joe kernen and Andrew Ross Sorkin. We are sitting at the flat line. Dow down about 7 or 8 and nasdaq up by about 13 yesterday, the dow was down 710 points a decline of 2. 7 s p off 2. 6. Came with huge steep declines going as smoothly as people had hoped. All of those concerns added up to steep losses. Looking at the treasury yield at 0. 669 now you see additional pressure as we continue to watch that case count talking about that, the United States seeing a Record Number of new coronavirus cases in a single day. Tallyi tallying 45,000300 that tops the numbers from april reporting that visitors that travel from hot spots to new york, new jersey to connecticut will be asked to quarantine two weeks. Those who defy that order. Hot spots include arizona, utah, texas, arkansas, alabama, north and South CarolinaPresident Trump says he will not follow the quarantine order when he travels to his golf club. Anyone in his proximity is tested the president of the United States is not a civilian noting a number of those secret service that were at the tulsa event are quarantining clearly they are not immuf here are some of those hot spots. Arizona reported nearly 1,800 new cases yesterday. Sevenday average up more than 76 compared to a week ago hospitalizations on wednesday hit a record high of 6,700 88 of icu beds occupied florida reported 5,500 new cases shattering the previous singleday increase. Nearly 60 of tests came back positive up from 11 percent e on tuesday. The average age of patients in florida was 33 years old down from over 65 years old in march. Texas reported a record spike of 5,500 new cases. The average is up 91 compared to the same average a week ago hospitalizations are up nearly 75 in the last week becky. Disney is delaying the opening of the californiabased theme park originally scheduled for july 17 giving us time to bring cast members back to work and back to business, we have no choice but to delay the reopening of theme parks and hotels until we receive approval they appear to be on track the wall street journal reports that disney is considering pushing back the july release of mulan. After tenant was pushed back to july 31. This raises the issue that it could be companies and in turn consumers that push back on this regardless of what they have to say. If you watched the sectors that were down. Hotels airlines, cruises, they saw so much pressure and dragged the averages down. We all have been. I dont think any of us have missed the day, have we . Since february we are not missed a single day maybe one day, well need to take some time off not like anything taxing to worry about with your family or your money or anything else. The day will come when i want to take a vacation. I know viewers are there going yes, yes some we are considering it now. Im looking at plane reservations we may drive somewhere but you cant drive if you try to go to the caribbean or something im going through the motions, here is a fare that seems to fit, what will happen the day before when im headed to get on a plane tomorrow i dont know what it is going to be like in july and august would you travel to a state where you are seeing these spikes you buy a ticket and plan for it would you go to disneyland . What happens when you come back, do you quarantine for two weeks when you come back there are real World Problems when we read about it. You realize these are other people considering these things. You bring it home and you are looking at the united app. You are saying, wait a second. You got to go through a Temperature Check and wear a mask the entire flight you are wearing a mask id drive have you seen they say the air really does circulate a lot. Do you buy into that it turns over like 18 times. I have a threeyearold who would no way wear a mask the tray table, so clean you could eat off of it. You could start eating a banana, put it in the pocket of the seat in front of you and then pick it back up. Would you do that . You go first. I dont know. Looking for a cheap and widely used steroid, dexamethasone. Treatment would help vaccine, anything would help us now. Good morning good morning, joe we hope not to get a severe result remember those prior results that showed that this was the reduced drug to show mortality by a third for patients on ventilators and by a fifth for those receiving oxygen nonetheless, so much excitement about a drug that can finally reduce that mortality risk demand has soared. With data out this morning in the week after those results were released, demachbd went went up 610 the fill rate went up 54 . That means the tire precipitation wasnt filled out immediately. A drug distributor says they have enough supply but the drug is subject to historical ordering patterns. This is given as a pill and through an iv. The iv formulation has been in shortage since 2011. According to these and because of these ongoing issues for these products according to the fda database, at least four of these companies are reporting the iv form has been in shortage we reached out milan does say that its drug is available but does cite that increased demand pfizer and sanofi are smaller maker. They are looking to increase for the eight countries they do supply back to you. Meg, that makes it sound like there will be more supply of this hand there was of hydroxychloroquine when we thought that was going to help hydroxychloroquine is an interesting one. That is only used for cases of malaria and other things the use spiked and now there is all this left overhydroxychloroquine after we found it doesnt work. But dexamethasone was more widely used before this. That is a bit of the difference. Joining us to talk about this and more is dr. Scott gottlieb a former fda commissioner and serves on the board of both illumina and pfizer. You are not the type that says i told you so but you did warn us that some of these states looked like they were hitting potentially pandemic or outbreak levels within those hot spots. Those numbers you worry about have come to fruition. It is difficult to get under control. You remember new york city announced the stayathome order on that friday that went into effect that sunday they didnt peak the number of cases until april 7. So almost three weeks went by until the time they put in place that stayathome order and the peak number of infections. We know there is a delay from the implementation of policy and actually affecting the emdemocratic. Whatever the states do them right now will help them in about two weeks or longer. Whatever policy decisions they made a week ago will flow through right now. The next week or two is largely baked in terms of the impact of policy they need to start thinking a little longer term i think the first two weeks theyll look at is closing the settings. They are not going to close the settings theyll need to look at some selected shutdowns like bars and look at health care if they are going to capacity. If you are worried about that, start to dial back procedures to free up capacity texas and florida have a lot of capacity there are parts of those states that look pressed right now, for example, houston every time i retweet some of the things you put out looking at concerning numbers of hospitalizations or hot spots, somebody tweets back and thinks this is some sort of a political statement you are making i want to make it clear, you served as an official in the Trump Administration as the head of the fda what you are talking about as a doctor and the things that concern you. I want to ask you about testing. From the beginning, you and dr. Fauci have said testing, testing, testing yesterday, we heard from the Trump Administration that federal government will not pick up the tab on that it will be pushed back to the states and municipalities. Is that something we need to be concerned about . We need more testing. I was writing about this back in january about the need to free up some of the educational labs for testing. The more we test and turnover cases, the more we can get people identified and isolated people when they find out have a positive infection will do the right thing and selfisolate getting people tested is important. We are testing a lot and doing a good job in most states. Some states are going down florida, unusually showed a 10 rebu reduction of testing most are going up and that needs to continue. Thats how we are going to get a handle on this pandemic. People dont want to shut down the economy. I understand why if you dont want to shut down the economy, you got to decide what to be for if you are against universal masking and tracing and testing, you are going to have to tolerate a very large epidemic once this spreads, you are going to see excess death and disease. You are not seeing that now because it is a Younger Generation in florida. South carolina looks troubling, alabama, North Carolina, arkansas this isnt just confined to a handful of states. On an economic front, if consumers dont hear about testing maybe they feel better if they realize there is more and they dont know about it, they could feel confident if they get out there and know the facts. The reality is that this will drive what is going to the hospitals. Doctors come together saying we have a challenge here. I dont think medical providers want to work in a covid19 only system they will press policymakers to mitigate doctors dont want to expose themselves to a risk. Texas Medical Center now, they are going to be in Surge Capacity in a couple of days within two weeks, theyll be in unsustainable Surge Capacity as of yesterday, 27 of all icu beds were Covid Patients you are starting to see strain on the capacity. Talking about the rush to get remdesivir to some of these hospitals and the use of remdesivir with younger patients often combined with plasma i talked to a doctor who said we may have to ration remdesivir. I think well use what we have on patients who need it i think it might have to be allocated carefully. Some who might benefit from it wont get it because they wont meet the clinical criteria because we dont have enough at the current moment there is more supply coming in to the market. We felt we would have enough of these drugs by the fall. We didnt anticipate wed be dealing with this scope in june. In july and august, if this didnt happen, this will get pressed. By the way, i know you are not calling it rationing but the doctor said certain young people may not get it today because it is being saved for those who need it later. Given the numbers that have come down so well we are so happy about it in the tristate area how do you think about the reopening and peoples behaviors here we are trying to go out and seeing these numbers elsewhere around the country how should we think about all of that right now i think people in the tristate region are still cautious that is a good thing people here are wearing masks. For the most part. There are exceptions because of what we went through that will have an impact of preventing a large epidemic taking hold. What is happening in the south did not happen in the last few weeks. This has been month after month. To see it in the form of an epidemic where you are having 5,000, 6,000, 7,000 cases a day. New york, it will take weeks and weeks to build that kind of cases within the community we do have a benefit now of a july and august that might not be virus free but we wont have widespread transmission that doesnt get us out of the woods for the fall we really crushed the infection. As long as we stay vigilant, well we able to reopen against that back drop so many people are dealing with this right now in this area now that they think things are getting close to all clear would you go to a friends house for dinner and eat in doors . If i trusted that friend. Ive interacted with friends i have young children. Theyve interacted with other children weve narrowed down the people we interacted with we have a smaller circle you can have interpretations it is not risk free but it is low risk the prevalence here is pretty low right now. Dr. Gottlieb, thank you well see you back here this time tomorrow. Thanks a lot. Thank you. When we come back, a surprise move by softbanks massa son overnight. And the ceo of bayer over the massive settlement over allegations that its roundup weed killer causes cancer. Relatively flat. Dow down 710 points yesterday. The futures down 50 points s p down by 2. Nasdaq down by 7. 5 well be right back. Can i find an Investment Firm with a truly longterm view thats been through multiple market cycles for over 85 years . With capital group, i can. Talk to your financial professional or consultant for investment risks and information. Talk to your financial professional or consultant bbut what if you couldg do better than that . Like adapt. Discover. Deliver, in new ways, to new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back, but bounce forward. And now, with one of our best offers ever, were committed to helping you do just that. Get a powerful and reliable internet and voice solution for only 29. 95 a month for three months. Call or go online today. Welcome back Softbank Masa son announced hes stepping down from alibabas board today. He had been on the board since 2005 jack ma joined softbanks board in 2007. In a statement, he said the parting of ways was muj. Masa son famously decided to invest 20 million after a five minute chat. That has been the most successful to date bayer paying up to 10. 9 million in a settlement for its roundup weed killer. Dow down about 15 points dug overnight over 300 points. I saw even more. Wasnt up all note worrying. Well be right back. Can i find an Investment Firm with a truly longterm view thats been through multiple market cycles for over 85 years . With capital group, i can. Talk to your financial professional or consultant for investment risks and information. Talk to your financial professional or consultant yeah, everything is runningis smoothly with the now platform. bling see, incident resolved. How did you. Gotta enjoy the small wins. You keep being you, derek. Keep being you. 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 welcome back to squawk box this morning bayer is nounsing it will be paying more than 10 billion in a settlement over claims that its weed killer roundup causes cancer joining us now, good morning to you. Appreciate you joining us. This has been a long time in the making there are a lot of questions about it you have made the argument that this puts this episode, if you will, behind the company but there are still questions about potential outstanding lawsuits you probably saw comments by some of the claimants yesterday that this is not over. What do you think . Thanks for having me. Good afternoon we have been very clear from the outset that there are two important conditions that need to be made for us to come to the table for a settlement number one, it has to be financially reasonable and has to be something that puts closure to this litigation both have been achieved for the totality of the litigation and totality of the monsanto litigation the amount of the 10. 1 billion to 10. 9 billion does not include the 75 of cases where we have already written agreements and includes an allowance for the remaining 25 we are very confident to negotiate settlements with over the next month to come also based on your Prior Experience in other cases you have been working with ken fineburg who is trying to mediate these cases. You did see some of the claimants who said they plan not to settle and plan to take you to court whachlt what do you say to them . I think ken is the expert that renders his opinion on his vast and long experience mitigating very difficult cases. We believe we have a structure in place that not only addresses the exiting cases we have but also the future with the Science Panel that will be put in place that also brings the discussion back to where it belongs that is the scientific assessment that roundup is a safe product that does not cause cancer we think this is the right body also for future claimants. Thats the question i was going to ask you obviously believe in roundup. Still on the market. On one end, it is still on the market and you believe in it on the other hand, there is this 10 billion that is going to go out the door how do you square that circle . We need to put this litigation behind us and set course for the future. There are so important things we need to do as a company that is grounded in science and works in the areas. If you look at the lockdown and the pandemic that is still very, very presence. Especially in the u. S. The businesses that are open in the crisis doctor pharmacies, and food stores that is the business we are in we have to put this litigation behind us. There is no other way to do it than with a settlement we have to go back and do the things that are important for customers, consumers and patients that is to work for the future and to actually feed a growing population every night, there is about 800 Million People that go to bed hungry there is about 10 billion people that need to be fed for the next decade thats what we are there for we are an Important Company to address these needs of mankind i want to ask you more questions that do relate to mankind. But with regard to the settlement, when you look back on the transaction to buy monsanto, good deal . Bad deal wish you did wish you didnt . We look at the combination of both companies also with utmost diligence secondly, the combination has always been built with the two Companies Going forward. Would into the s we need to curb global warning and do this with things coming to the market. Im going to take that as you are happy with the monsanto acquisition. Tell me how you feel about the situation going on in the world. T