Losses early in the session after the ceo of russias Sovereign Wealth Fund told cnbc and moscow and saudi arabia are very close to an oil deal. Wti and brent are both coming off their best week on record. Not recent records on records ever all the way back to 1983 when they started tracking wti last week wti was up by 31. 7 . Up by 12 on friday alone. A meeting of Major Oil Producing Countries was delayed but still expected later this week that news just being told to cnbc that it looks like they are close to a deal. Andrew, ill send it over to you. Meantime, the latest on the pandemic the number of confirmed cases worldwide now totaling more than 1. 2 million. More than 330,000 of those are right here in the United States and more than a third of the u. S. Cases are in new york state. The death toll in america standing at more than 9600 overseas, british Prime MinisterBoris Johnson was admitted to a hospital for tests a spokesman called it a precautionary test the Prime Minister tested positive for the coronavirus just ten days ago and his symptoms, including fever, were persistent earlier yesterday Queen Elizabeth ii gave a rare televised address to the nation urging citizens to confront the pandemic with resolve and unity. Meanwhile in wuhan, china, yesterday, Municipal Workers began knocking down barriers that had been set up at the start of the outbreak. The city of 11 Million People had been on complete lockdown since january 23rd the quarantine set to be formally lifted there on wednesday. Good news there. Hopefully a model for what may come here in the United States joe, over to you President Trump expressing hope late last night that the u. S. Is starting to see some leveling off of covid19 cases in some of the countrys biggest hot spots and also some positive news for the last couple of days continuing coming out of parts of europe like italy eamon javers joining us. Sunday night, still a task force. Im tired watching some of these task forces. On one of them i left, i went over totally alone, walked around, to get some fresh air. Came back, it was still going on like an hour later its pretty unbelievable the president has been doing this twohour monster briefings every day. Look, yesterday they actually had a lid at the white house which meant they told all the reporters early in the day yesterday, were not going to make any more news youre not going to see the president. Everybody can go home. And then the president tweeted, you know what, i am going to have a briefing after all. Everybody scrambled into position for that one. What i thought was interesting yesterday is we heard from the president about this idea on tariffs, on foreign oil, particularly saudi oil a lot of the Oil Executives who went to the white house on friday went there with the goal of talking the president out of putting tariffs on foreign oil a number of them were worried he was just about to do it on thursday and friday. He had that meeting. That message seems to have resonated with the president because during that briefing yesterday and over the weekend, we heard him still talking about tariffs but only in a conditional sense. Heres what he said. If the oil price stays the way it is because people that really want to see it go up, when i say, we want to save a great industry we built a great industry in this country if they dont get along, i would do that, yeah. I would do tariffs very substantial tariffs because were independent now. We have our own oil. If i did the tariffs, we would essentially be saying, we dont want foreign oil for now the president talking about very substantial tariffs but only conditionally if the saudis and russians dont come together to make some kind of a deal to cut production he told you last week he felt like they were close to a deal that they had guaranteed him or indicated there was going to be a deal that didnt seem to come together over the weekend. We know theres a meeting coming up later in the week where they might be able to pull that together the president appears now to be using that tariff threat as a little bit of leverage to push both sides toward a deal, joe. Well see, eamon. Should be interesting. Looks like, you know, the oil prices did hold on to those gains, those ridiculous gains. Not ridiculous but in terms of size, you know, very, very large percentage moves from a low level. Eamon, when i read a quarter of the economy is shut down, i guess just watching everything, it thats a lot but whats open i mean, i was surprised threequarters are still open. Right look, i mean, its incredible what has happened to the economy. Weve never done anything like this theres no sort of recipe for moth balling an entire economy and then being able to put it in cold storage, to mix my metaphors, and then pull it out later and have it be undamaged no way of knowing exactly how all of this is going to shake out and what kind of long lasting damage well see versus what kind of things can bounce back right away as soon as we get to some point where there is some kind of treatment for covid or some vaccine developed. We could be months away from that eamon, hearing the ton of the press conferences over the weekend, the press briefings, it took a decided turn from, okay, were definitely shutting this down to a more mixed message, yes, theres going to be a a couple of tough weeks, the death and the idea that we cant keep the economy closed forever we have to get back up and running. Those dual messages seemed to work their way in. How is that playing out . Is that different advisers telling him Different Things or just the natural human reaction of, oh, my gosh, we have to shut things down, its terrible, theres going to be a lot of death and then thinking what happens to the economy as a result look, i think these are the president s instincts, very visible here he had been off that talking point of reopening the economy for about a week and then we heard more of that i think hes looking at the economic carnage and trying to figure out how he gets this country back on some kind of stable economic footing when all this is over and done with you also heard simultaneously from the Surgeon General who was saying things over the weekend like this is going to be this week is going to be pearl harbor, its going to be 9 11, its going to be a very difficult week the most difficult americans have ever experienced. How you can have that message going out and a message about reopening the economy at the same time is very difficult. Clearly, the president wants to keep his eye on both eamon, two quick questions for you. One about this report that came out yesterday that seems to have been confirmed by a number of news outlets now about this massive blowup or fight between Peter Navarro and Anthony Fauci over the over how well hydroxychloroquine works what do you know about that . What we know is what axios has been reporting i cant independently verify it. Axios has a good track record on these things they report navarro was in the situation room confronting dr. Anthony fauci during one of these situation room meetings on saturday and literally dropped a stack of papers on the desk in the situation room and said, these are scientific studies that show that this drug works here, is effective in treating covid19 we need to move forward on this. And im sourcing it from around the world. Fauci, though, skeptical of that saying that those were just anecdotal reports, the science is not up to snuff, in his opinion, theres not enough peerreviewed science there and not enough diversity to the literature yet in order for him to come to a conclusion. Navorro has been an interesting pig. Hes been tapped by the president to lead the defense production act response here hes sort of becoming a more influential figure in the administration through the course of this, which is something to watch my other quick question, well talk to marco rubio in the 8 00 hour, but the Small Business loans i talked to so many Small Business owners over the weekend who were struggling to get access to the loans. Lots of banks where they had Checking Accounts but didnt have loans outstanding at those banks so they didnt take credit a lot of Business Owners saying, look, i never took on debt thats a great thing and yet because they dont have that relationship with the banks, theyre not getting the loans. Right look, this thing is being put together on the fly. The classic building the airplane while youre in the air sort of situation. And there are bound to be these kind of problems but the banks and the government are going to need to work very carefully together to make sure this program gets up and running the way it was promised to american Small Businesses or else i mean, the level of frustration and anger and disappointment is going to be off the charts for those people who cant get access to it and those millions of americans who stand to lose their jobs if this doesnt go right the amount of effort on all sides is going to be enormous here and theyre going to have to get this right. Eamon javers, thank you, sir. When whether he come back, a lot more on squawk box. Dr. Scott gottlieb is going to update us on his efforts to flatten the curve in some of the biggest coronavirus hot spots. Great to get his sense of where we are well also ask him about news that a tiger at the bronx zoo tested positive for the coronavirus and what it means for those who are quarantined with pets. Well be right back after this maybe well talk about joe exotic as llwe in nearly 100 years serving the military community, weve seen you go through tough times and every time, youve shown us, youre much tougher your heart, courage and commitment has always inspired us and now its no different so, were here with financial strength, stability and experience you can depend on and the online tools you need because you have always set the highest standard and reaching that standard is what were made for welcome back to squawk box. A tiger at the bronx zoo has tested positive for coronavirus. The tiger developed a dry cough and was tested as a precaution the zoos chief veterinarian says the test is not the same as the one for humans several other tigers and lions showed symptoms of a respiratory illness. All are expected to recover. The cdc saying it does not have evidence that companion animals, like pets, can spread covid19 but stresses more information is needed about how covid19 affects animals. For the latest on the response to the pandemic want to bring in former fda, dr. Scott gottlieb i dont know if you have pets or have been watching tiger king on netflix, but should we be concerned about pets before we get into the rest of it . Must have been a complicated swab of that lion in the zoo look, theres really little evidence that this virus infects animals. Theres some anecdotal reports here and there of animals getting infected if the pet is close to a human, they ultimately could get transferred but theyre oneoff anecdotal episodes probably isnt an indication that theres widespread transfer. There are cases that if humans are in close contact with an animal, they can get the animal infection but you have to get a big dose from the animal virus to get it because typically the virus itself wouldnt be contagious to a human. It can probably work both ways. Watching joe exotic on tiger king playing with the tigers, theyre very close i do want to talk to you about the more serious issues of the numbers and just how terrible a week we are expecting. Also what seems, at least from the administration, maybe you can weigh in on this, a glimmer of hope of where we may be going with this curve here and the length and duration of all of this. Weve been talking about this for a couple of weeks. The curves are improve the model, if youve tracked it over time, you see the model itself has improved. The number of deaths they were modelling on that model about a week ago, the upper balance 240,000 deaths now the upper bound is 170,000 deaths so, as data accrues, that model starts to improve. Remember, this isnt like forecasting the weather. When you make a model and make a forecast, you then do things to affect the outcome the model is constantly evolving based on the behavior youre engaging in to try to improve the model. I suspect when they update that model, i presume today, youll see improvement. The northern states, the Pacific Northwest and new york, are improving. Theyre showing signs of hitting their peak probably this week. The south and the southeast will be heating up. This is going to be a difficult week lets go to the big question i think ceos are trying to figure out, executives, everybody, were all trying to figure out, when were going back to work and what it means to even go back to work. What that even looks like to the extent, are we going back to work and its like a time machine, its like what life was like in february or were going back to work and we go back with gloves and masks on on our way in and out, go straight home, we dont go to a lunch place or restaurant tell us sort of, a, what is your timeline for, quote, going back to work look like, and what does going back to work look like i think we should ask our parents what it was like in the summertime when polio was circulating or great grandparents who are alive when there were smallpox outbreaks in cities or even measles it was a drag on society there were serp things that didnt happen. I think were likely to see certain things are suppressed. This virus isnt going away. By july and august, it will collapse, meaning fall down to 1,000 cases a day, perhaps hundreds, but sporadic outbreaks here and there and come back in the fall this is going to become epidemic in the Southern Hemisphere and want to come back in the fall. So the question is, what activities dont come back or how do we change the nature of the way we do certain things until we can get to a therapeutic or vaccine vaccine is a year away by therapeutic is by this fall. Parents out there who have kids want to know some want to know if their kids are going back to school i think you answered that before you think not. Are they going to camp this summer, for example . Well, schools out this year. Camps are probably going to be closed maybe the camps will try to get a month in i think theres an attempt to restart school in the fall and have Residential College well have to see if we can contain the outbreaks in the fall as soon as you have a large outbreak in a campus or local district, there will be inclination to close the school. This is likely to become epidemic nationally the way it is now but youre likely to see epicenters spread. When that happens, youll see cities get shunned, conferences and activities curtailed we have to learn to live with it thats the question do you think there will be conferences, events, people will travel this fall, theyll be getting on airplanes or do you think that will not be taking place . I dont think anyone crowds 5,000 people into a Conference Room again for a long time i think the marginal customer doesnt return to theatres, the cruise industry, disneyland. You decide what you think the marginal customer is, but typically the marginal customer gives those entities their Profit Margins i think they need to reassess that i dont think people will be crowding onto cruise ships the same way can i boat go out 80 field . Ill make it more complicated. Do you think people will travel for thanksgiving theyll travel to peoples homes around the country as they do, or go on vacation at christmastime, given the timeline youre now talking about . The timeline youre talking about is a lot longer than the timeline most americans are thinking about, in large part, based on the administration talking about this ending at the end of this month. I think a certain percentage of the population will be more circumspect about crowding into tight spaces indoors pick your activity going to a familys home for thanksgiving isnt one of those activities i think will be curtailed. Crowding into a restaurant for an Adult Population is so, there are certain things i think youre not going to get on an airplane look, well see people be more circumspect will you fly . A will fly im sure people will fly but will you take that extra flight will you go on a trip you didnt need to take thats whats going to change. I think the marginal activity that involves crowding into theaters, airports, small venues inside where there is spread is going to change, especially as these reports of outbreaks happen around the country. The idea that things are going to snap back, well forget about this, this is gone, thats not the case this is going to be with us. Remember, smallpox circulated for years. Measles circulated for years polio circulated for years before there was a vaccine and it changed American Life thinged changed. We have to do things differently with the coronavirus circulating in the background. This is a fearsome pathogen. Things will change until we can get a vaccine. An effective drug can deliver the same kind of opportunity, which is why im so perplexed why theres not a more deliberate effort to get it. That we could have in the near term dr. Scott gottlieb, enjoy talking to you hope to have this opportunity to do it tomorrow thanks so much joe, over to you thanks a lot. I dont know whether that was enjoyable, but it is good to hear the doctors announcements. Coming up, todays top corporate stories, including the Big Tech Firm that is now producing face shields for hospitals. As we head to break, heres some images of the pandemics impact from yesterday across america. Time now for the executive edge apple ceo tim cook said on twitter yesterday that the company has sourced more than 20 Million Masks and is working with governments to donate them where theyre needed he also said the company has designed face shields for Health Workers and producing and shipping them to hospitals they pack flat, he said, 100 per box can be assembled in less than