Across the world the death toll in the u. S. Has risen to nine people a big night for joe biden for super tuesday with key wins across the american south. Wednesday march 4 and Worldwide Exchange begins right now good morning and welcome to the show well tick off the morning with breaking news. Investors bracing for another wild ride as futures are indicated higher sharply, 500 some points for the dow, 51 for the s p and 160 for the nasdaq that is implied. We have seen action wither away over the weeks that action has been anything but mild we were red early on todays massive gain was more than cut in half after triggering the rate cut only one green spec signaling possibly more support and admitting the cut may not be the fed or cure all. We dont think we have all the actions. We do think it will provide a meaningful boost to the economy but will avoid a tightening and help boost household and business confidence. Investor attention today turns toward the central bank of canada due out at 8 00 today in the treasury market, the benchmark note. 944 the first time it has dipped below that 1 mark twoyear note. 067 . Very historic moves with the u. S. Treasury market now around the world, in asia, early trade there. A little mixed right now the hang seng down about 1. 25 a fairly mixed picture what may be more interesting is the more muted nature of those moves. You can see fractional gains as opposed to the one, two type we have been seeing lets spin that globe around towards the european side of things we can see, predominantly green. The german dax up, ftse up and dax up as well a huge night for former Vice President joe biden. Sweeping texas Bernie Sanders maintaining vermont, utah, colorado and favored to win the big prize of the night, california. Tracie potts joins us now from washington, d. C. What do we know for sure and what is still up in the air . We know it was a big night for joe biden including the unexpected win in texas. We know that california is still counting votes and may be doing so for a while how they split up the votes in california, a little complicated there. Biden overperforms weeks after some considered his campaign on life support we are very much alive. Former Vice President , the projected winner in nine super tuesday states including a surprise win in delegate rich texas. It is a good night and seems to be getting even better. They dont call it super tuesday for nothing. As of this morning, maine was still too close to call. California, too early to call. Bernie sanders was leading there. I tell you with absolute confidence, we are going to win the democratic nomination. Sanders to win his home state of vermont bloomberg picked up four delegates in American Samoa after spending a half a billion on advertising senator warren lost her home state of massachusetts but indicated her campaign is still alive. It is an awesome thing. You will do it here in michigan next week. Gabber is still hoping be a long shot. Lines were long across the country. Democrats energized to beat president trump. The president was tweeting as the results were coming in focusing on his own win, mostly unchallenges but also on Mike Bloomberg and Elizabeth Warren not on the front runners weve been dealing with the possibility of a brokered convention how does this play outright now . A brokered convention means uncertainty. Markets do not like uncertainty. We may not know, especially if biden continues to over perform and biden supporters continue to support him. Likely likely for a Biden Campaign run thank you for those results. Well come back to you for updates. Turning to the markets preparing for another wild ride. Our friends sat down with cleveland fed president this year asking her take on the Emergency Action and what was driving it the risks had gone up significantly. There is a lot of concern about the course of the virus. You dont respond to market volatility but as investors pull back as much as they were showing that they did. That influences business and Consumer Sentiment big words coming from the chief. Joining me now, chief strategist and head of Macro Research and fixed income lets start on the fixed income side it seems relevant. A surprise one. Did the fed do the right thing by cutting rates by half a percent yesterday. We would normally expect a cut like this to be in response to tightening financial decisions. We have had volatility the yields are very, very low. Somewhere close to minus 40 basis points we dont have a tremendous tightening to us, what is going on in the market is more how the economy will be impacted by the virus. We dont know that lag so rob, weve heard that cutting Interest Rates saying it will help in significant way with the economy and growth. Do you believe him and why isnt the market responding in kind . I think the reason the market didnt respond in kind yesterday is because this fed has been so measured in its approach many investors, including myself will garth some data and well probably see the cut for it to happen yesterday was so jarring and seemed a bit panicky. A lot of investors are saying, what does the fed know here that we dont know. The first part of your question, there are a lot of things we dont know there is a supply shock here are people going to stay home and not make things or stay home and not buy things it is a situation that will be evolving you heard the comments made elsewhere in that interview and in prepared remarks, she talked about this notion that the market volatility could be a weight how are they pricing in the regime in the lower months ahead. There is very important stuff now, which is china is trying to go back to work. They are about 60 capacity right now in china we need to watch that that probably gives us some guidance on how we can handle through this we know very little about how this will happen across the economy and handle this. What is the playbook. I agree with robert with the unknowns here. I do think the rates and the dollar will go down. I think i would overweight large cap over small cap im going more defensive with financials, health care and facilities thank you both. When we come back, more on the joe biden big night and the potential impact of your money the latest on the coronavirus. Actions one social media giant sioroning to stem the spread of minfmati a busy hour ahead when we return after this the World Health Organization is saying for the first time, the number of deaths outside of china has exceeded those within china here with more on those details. Thats right, the who now saying the global number of cases has surpassed 93,000 and the death toll above 3,100 south korea, new cases have increased by 516 and four more people have died in the u. S. , two deaths in Washington State are being tied to the virus that brings the death toll in the u. S. To nine s amazon says one employee tested sp positive in seattle and is in quarantine in china, the Services Index measures fell dramatically it marks the first time that indicator fell below 50 since the survey back in 2005. As we head to break, check out the biggest gainers in the premarket today United Health up 4 . Microsoft up 4 and ibm up 2 . Losing its cool. What has shares of Urban Outfitters down. Well be right back. Announcer todays big number, 427 billion thats how much market cap the S P Energy Sector has lost since its 52week high last april. The index has tumbled since then making it the worst performing sector in that period. Welcome back to Worldwide Exchange on cnbc. Lets check some of the stocks on a move. Shares of nordstrom dropping after announcing a series of changes to its csuite eric will become the sole ceo, a role he previously shared with his brother. Hewlett pack ard shares off Urban Outfitters taking a tumble falling short and shares are off 6 premarket. As we head to break, s p stocks there indicated some what higher a decent move with a 170point implied gain for the nasdaq. When did we introduce siracha . Not soon enough. These are our sales. By product, by region. Set against evolving demographics. You can actually see taste trends. Since when can we do that . Since we started working with bdends. announcer people who know, know bdo. Want to freshen your home without using heavy, overwhelming scents . Try febreze one; it eliminates odors with no heavy perfumes, so you can feel good about using it in your home. For a light, naturalsmelling freshness, try febreze one. Lets check on other top headlines. Live with the latest we start in tennessee where residents are reeling from the second deadliest tornado in the states history. For many families, the storm struck as they slept former attorney general Jeff Sessions is fighting for his seat in alabama. Neither of them reached 50 yesterday. The winner will face democratic senator doug jones dramatic video capture video of new jersey troopers pulling a man from a truck on fire both men rushed from the scene and pulled him to safety the cause is still under investigation. That video is Something Else when every single second matters. Great work by these new jersey state troopers and everyone else involved still ahead, stocks set to jump as investors digest super tuesday results. Right now, the dow is indicated higher by almost 565 points. Take a look at the biggest gainers in the s p 500 premarket, anthem, super tuesday places into that american airnelis, cvs health. Well be back after this do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Dad, im scared. Its only human to care for those we love. And also help light their way. Its why last year chevron invested over 10 billion to bring affordable, reliable, ever cleaner energy to america. Stocks are looking to bounce back in a big way. The futures pointing to very solid gains. The selloff coming on the heels of the Federal ReserveInterest Rate cut as jay powell defends the move what really matters is the risk to the economy. We saw a risk to the outlook and chose to act a super tuesday indeed for former Vice President joe biden as he scores a major victory in his fight for the white house. The second half of Worldwide Exchange starts right now welcome back to the show. Lets look at what is happening with the second half breaking news. Investors breaking for another wild day on wall street as futures are indicated sharply higher opening up about 57 points the nasdaq up, the dow jones up 170. One pointerly on, we were lower after yesterdays regular session losses things really started to pick up steam todays action comes as mondays massive gain was more than cut in half after the fed triggered the first unscheduled cut since the crisis signaling more support in the weeks ahead. Loretta spoke on squawk this morning to discuss her support of that move the risks around that outlook have gone up there is still a lot of uncertainty about the course of the virus. You dont respond to market volatility, per se, if investors pull back like they did, that influences business and Consumer Sentiment. A lot of moving parts there watching the Market Reaction as well matt taylor has the overnight action in asia Julianna Tatelbaum with overnight action in europe matt, well start with you first. Generally positive. But well call it mixed. Australia, down 1. 7 much stronger than expected q4 gdp numbers in australia following the rate cuts there. China markets positive, shanghai up about. 06 . And Monetary Authority moving in lock step for reducing rates south korea was the sandotand outperformer today totally 9. 8 billion with money going into Small Business support. With quarantine and child care, we saw the kospi up. The yen strong around the 107 level. Bank of japan said the hit could be big and the central bank carefully watching developments there. We had the top topix slightly lower there. Good morning. European markets are closing higher this morning. Can you see the gains are fairly evenly spread across the different regions leading the uk higher the ftse 100 is about 1. 4 higher across the board, investors are cheering the move yesterday. We are seeing a mounting of expectation around the potential for the European CentralBank Following suit with measures of their own. The banks still in focus for european investors let me take you to a yield with err seeing 10year yield hold near monthly lows you are watching the treasuries yesterday with the 10year hitting a fresh alltime low we are seeing the yields however themselves putting it all together here, sentiment positive as they monitor coronavirus developments and the policy action taken to mitigate the risk associated with it. Thank you very much live with the latest to the campaign trail where super tuesday turned into a super wednesday morning for candidates Bernie Sanders and joe biden as well. Weve done good im hear to report we are very much alive make no mistake about it this campaign will send donald trump packing. Tonight, i tell you with absolute confidence, we are going to win the democratic nomination. [ applause ] and we are going to defeat the most dangerous president in the history of this country. Two big voices there, joe biden and Bernie Sanders biden racking up big wins in southern u. S. Taking the second biggest prize of the night, thats texas with nearly 230 delegates. And sanders winning big in colorado and vermont and favored to win california, my native state. Turning to the Market Reaction, possibly allowing investors to breath a sigh of relief. It may be some of the driving force with the dow indicated higher joining me with key take aways from all of this Hamilton Place strategys Founding Partner and from chicago, both cnbc contributors lets go throught the hits, runs and errors the xs and os. How do you see this race shapg up for specifically joe biden and Bernie Sanders it really is a joe biden story now. To take that South Carolina win into super tuesday and probably the tighten window with no other news and turn that into the roll he he had which had to be breathtaking to watch. He won in states he never visited, never put a field office or spent a dime in. The big wins in massachusetts and minnesota. How did that happen that you could take a former Vice President and have an election victory in those states he never really campaigned in . Was it because of Amy Klobuchar throwi throwing support there or the other rivals that now back joe biden . It appears what they are looking for is that candidate that could capture the large center lane of the party looking at the sentder polls, they are looking at the candidate best positioned to beat drup. A lot of voters are concerned he cant do that. They were hopeful biden could because of his win in South Carolina he showed him there is a case for it lets talk about the action today, how much do you think the moves will happen so far how much has to do with the fact that the coronavirus may be taking a backseat to the coronavirus as well. The overall super tuesday and super wednesday, i think he may select ll cool j, dont call a come back. His theme long look at unh, United Health to be a name premarket, they are seeing a resurgence, up about 4 due to the fact that biden is really fuelling the burn. The next couple of weeks will be a slugfest this will be well received bringing up a great point, showing United Health, cvs Health Anyone else tied to managed care in american. Anyone tied to joe biden is better for perhaps taking away the threat of medicare for all what else are you looking for in the marketplace and where implications should be helped in the industry the financial sector. Clear if you had Bernie Sanders come in and use discretion with the kinds of regulators he would put in those jobs. Climate and energy too clear he wants to go after fraking and coal and other areas you would be concerned about with a biden win he wouldnt take a look at the sector but not the radical changes you would expect lets talk about the traders mentality now. Do you use that as a reason to trade or invest or are those two things very different . They are different. The game has changed with bidens resurgence that is the focus and you are seeing volatility come down. People are under estimating the power. Well talk about that later, that is interesting. Look at the vix, back under 30 that is coming down. Always great to get your in sights stick around, well see you shortly coming up in the show. The death toll here climbs higher in the u. S. And growing opportunitiefos r health care. Contessa brewer will break that down after this. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. It is already working in cities like tokyo. Danafarber Cancer Institute discovered the pdl1 pathway. Pdl1. They changed how the world fights cancer. Blocking the pdl1 protein, lets the immune system attack, attack, attack cancer. Pdl1 transformed, revolutionized, immunotherapy. Pdl1 saved my life. Saved my life. Saved my life. What we do here at danafaber, changes lives everywhere. Everywhere. Everywhere. Everywhere. Everywhere. A new kind of investor is changing things up. [ indistinct talking ] with an app thats changing the way we do money. Download robinhood now. Frank is here with those headlines. The World Health Organization is saying for the First Time Since this coronavirus outbreak began, the number of deaths outside of china have exceeded inside the country confirming 119 cases and in the u. S. , two deaths in Washington State brings the death toll in our country to nine North Carolina has confirmed that states first case. Facebook is cracking down on false information on coronavirus. And hong kongs pmi hit a record low. Falling below levels recorded in the 2008 financial crisis. Back to you. The Federal Reserves decision to make an Interest Rate cut yesterday was aimed at protecting the u. S. Economy over the outbreak how much power to Central Banks and governments really have when it comes to the softening of the blow joining us now from beijing. Chinas central bank now has action are there signs for the steps they are taking are actually working . I spoke about that today who said if you need to get a loan, it helps but much more needs to be done. The business sells radios to close to 2,500 stores but the coronavirus outbreak paralyzed production and sales with so few people out shopping, sales went to near zero. His online sales dropped to half, then the government stepped in he says the credit line came on time he no longer has to pay workers pensions or other insurance for almost half a year and government has offered property rent free for a month. But still workers are staying away from his factories. A lot of requirements to reopen factories. Material costs are up 5 to 10 . Our biggest problem is that workers havent come back. He hopes the government will loosen restrictions on consumers. Tough measures will impact the measures it takes time for people to regain confidence. A Consumer Confidence is much needed dom, in order to build up this economy Government Intervention in play the cdc is warning people with symptoms no the to rush to er or urgent care but to call the doctor first those could be a big opportunity for tele health companies. Meaning what exactly you can contact your doctor through an app, on your phone, face time. All of those interfaces that would keep you out of the office the industry has grown from 6. 3 billion to a predicted 30 billion by the end of this year. That prediction was before coronavirus. Plush care is betting the industry could hit 100 billion in a decade. Coasttocoast, companies that offer on line, telephone or Text Services are gearing up flu plush care is a Subscription Service saying virtual visits are up 30 since december. Ramping up for more. People are fearful and worried. Should they stock up and medicine and masks tele health was available to 90 of employees fewer than 10 were using it coronavirus could change that. It is more than an initial consult. Offering a wearable computer one has sold out because of the uptick of demand amid coronavirus. Researchers can collaborate on the 3 d models the companies rushing past the pilot stage for commercial deployment for covid19. You dont need to see a doctor often the chance to use it is not as frequent it doesnt spread as rapidly Health Care Takes time. The key opportunity now is bringing services to people trying to prevent the spread of this infection it totally makes sense, you dont want them traveling to see their doctors. Lets say this is a big catalyst when will i start to move towards that massive growth . In china, the leader has seen visits rise nine times science coronavirus and sign ups 10 times higher 900 growth in signups its stock is up about 50 in that time frame. Looking at an american company, Teledoc Health which has seen its stock go up 45, 48 . It is down a little now but is up 115 over the last six months if coronavirus can get people to try out tele medicine once and they like it, it is much more convenient that stock, that is now worth 9 billion you can only imagine other Companies Getting in thank you, a big, big trend here stocks looking to bounce back after yesterdays selloff. Jay powell and the Federal Reserve take action to shelter the u. S. Economy you can always watch or listen to us veli on the app. Well be back in just a moment awesome internet. Its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] it is grieat the Federal Reserve recognizes the weakness. This is like, wow, okay, 50 basis points i guess the claims are going to be bad now im more nervous than i was before welcome back. That was jim cramer yesterday after the fed announced the Interest Rate cut. The first largest. You can see the most recent three events go back to january 2008, october 2008 and yesterday. As a result, futures indicate a higher open today trying to make up for a steep selloff yesterday. Those reverse after the cut. A former colleague of fed chair jay powell, and founder and ceo of Kkm Financial hes back with us again. Chris, well start with you here, lets talk about whether or not the fed chair did the right thing to calm the market continues that are going on it will prove to be the right move lets talk about the trader perspective here there has been an argument made that reserve and easing will remedy the Current Situation around coronavirus not an issue around supply right now. It is an issue whether or not supply constraints will happen near term. Going back to what the reserve was talking about that was the Material Change of the outlook yesterday was a onetwo punch. This is a shock absorber this is a shock seeing a lot of central bankers. This is a big moment that move weve seen is nervous. Volatility weve seen come down in the wake of this move talking about the policy move that fiscal coordination needs to happen as well. What exactly does that see around the world working closely with the fed and regulators in our country and around the world on this issue. It is a worldwide issue if others are correct, we could be seeing a pandemic here i expect the administration will lean in for a coordinated effort worldwide and leave nothing on the table and make them all ready to deploy. Some calling for no Earnings Growth that down drag in the markets. Caught up in q3 and q4 the fact that weve seen nine deaths but there has been more deaths this year by the measles and the common flu well continue to see the market get over the fear. As the measurements come in daily, this is a shortterm focus, this Interest Rate cut big deal will help sooth and not encourage Business Travel but help things move forward thank you both for your thoughts, we appreciate it that does it for Worldwide Exchange. Squawk box begins right now. Good morning ready or not, here we go f futures are up an emergency rate cut from the central bank, not enough to satisfy nervous investors. Super tuesday big wins for joe biden well talk about what this means for your money wednesday, march 4, squawk box begins right now good morning welcome to squawk box. We are live from the nasdaq marketsite in time square. Im becky quick along with Andrew Ross Sorkin and joe kernen right now we are looking at the dow futures indicated up by 518 points a lot can change close he closely watching what has happened in the market how we got here at 10 00 a. M. Eastern, the fed cut half a percent from the key fed fu