Yes look, theres no doubt about it, as becky said, things are better after than before. Skeptics will say you cant ramp up this rna. Moderna has been saying they can do 800 million to 600 million to 900 million vaccines, and i think therefore the move in the dow and the move in moderna makes sense. Do i want to chase moderna no do i feel like things are better its hard to believe that anybody could do this this fast, except for moderna i want to caution people, they have never really done anything. This is a very, very big deal. But there are people scientists i talked to this morning who say look, so far so good thats much different from the way i felt on saturday when i learned that the oxford test that everyone was so excited about did nothing. So this is not on prime mateates is on humans if youre negative on the market, you have to rethink. People will say we have to buy value. Autos are pumping. This is good news. You dont think its a sell and stay at home kind of stocks day . I think Everyone Wants to do this, but this is something theyll be ramping up another trial in july. We might be seeing something in the first to Second Quarter. I know everyone people will want to sell General Mills watch kraft, that will be the tell i used to have a barbell philosophy, you should have some disney, some General Mills will the people say its crowded . They always say everything is crowded when its working. Tomorrow you have to ask yourself will moderna be on the tape again with good news . The answer is no well be talking about the difficulty of making a vaccine i in particular am focused on retailers this week. This is a walmart home depot week this is not a kohls or Urban Outfitters or l brands week. As far as im concerned, the mall didnt just resurrect itself because of moderna. The numbers will be bad. Id rather be in target than i would be in, lets say, Bed Bath Beyond how about that some of those stayathome stocks may not perform as well as some other names you mentioned today because of this news, i guess. You made the point, moderna is a fairly promotional economy, not to take away from it, but joe on squawk box also making the point, its eight patients so far. Were talking about a i mean, a vaccine, you know, you do at some point have to establish safety at large scale, 50,000 people in a trial, things of that nature. We are moving at speeds we have never seen before and doing things that have never been done before, were all hoping against hope that this does work in a larger context it does need to be taken in context. Right we dont know how long maybe the antibodies last for three months maybe these eight people were kind of like selected by some of the drugs that like some of the drugs we heard about that got everybody out of the hospital quickly and it turned out they didnt. Moderna is happy to come on quickly. Thats great we always want to hear from anybody doing good but 8 for 8 is not 8 billion for 8 billion. So therefore the stayathome stocks, they sell off this week, maybe they sell for two, three days then the American People forget. Ill tell you whats more important than moderna is will the states that had bars that were packed this weekend have breakouts . If they dont, a lot of these places youre letting the youngest people out. If theres no breakouts, then you can get something moderna or something j j, we have so much money sloshing around the system it could be incredible you would do theres no social distancing in the crowds that i saw now, i live in nunew jersey, the worst state in the union, but some people are acting as if its over. Yeah. This week will be very big gm, ford and fiat resuming production in detroit. Apple will open up 25 u. S. Stores this week disney will open their Walt Disney World shopping area on wednesday, jim so you think were still in a mode of watching the reopenings and bracing for an uptick in cases, which is also sort of hard to divorce from the testing thats Getting Better. I am concerned. Look, we live in an area where there was a very big contingent, bellmawr, i have a house near there, really having a great time on the beach. Your hope is these are young people who somehow do not have parents and could be asymptomatic and not maybe not get it i dont know where were all those people three weeks ago . I feel the reopening is being trumped by the people who say you know what . Reopening means all clear. Now, in new york obviously i cant open my restaurant, ill get arrested a lot of places are flaunting. A lot of places are saying listen, it was mostly nursing home people. A lot of people are saying its a hoax these people were out in full force this weekend look, it would be fabulous if there are no outbreaks it would be fabulous if the eight people was a harbinger for 8,000 when we do the july testing. Then well say there were trillions pumped into the economy, now were having no social distancing, everything is great. The market breaks out to new highs. Right and meanwhile chair powell on 60 minutes i think taping something not far after his comments that we carried live, talking, jim and carl, about the fact that the fed is no limits i guess is one of the keys even before we got the moderna news this orning, the market seemed poised for gains of what seemed to be some new language from him or at least said in a new way or to a different audience perhaps from questioners who obviously are not as deep in the weeds as we are in terms of fed parlance and policy i do think what happened he speaks to the regular people. The people at home kind of like when ben bernanke went on in march of 2009 and said this is over. Were not going to let more banks fail when i listened to powell, okay, it looks like by any means necessary. They dont want more layoffs so you combine no more layoffs, moderna, fed cheief who was much more go, go in terms of making sure people wont be laid off anymore on 60 minutes and number of upgrades a big week for stocks that could do well. Europe was strong. There are there are a number of green chutes, what can i say . If moderna is for real, i dont want to say it its just too early to say its for real it is too early i dont want to do it its hard to know where the starting gun is, jim, on promise like this. Your point about upgrades, nvidia taken to outperform doubles the target to 425. Thats a longerterm story on ai and data analytics, but williamssonoma with an upgrade on the idea that people will take their travel spending and use it in the kitchen. I love that thats one of the names youre supposed to sell off of good news from moderna. Thats typical of whats happening. People are still afraid to go somewhere. But they still have excess money. Theyre not going out to dinner. Theyre not doing anything take some of the money, you can go to home depot or williamssonoma website. The Jenson Wong Nvidia upgrade stocks, reports from the 21st, it will be a blowout number. My travel trust belongs to the crowd that loves nvidia. My dog is named nvidia at the same time, again, up 20, its like moderna. Is moderna going to be up 30 today . Probably if you buy it here, maybe flip it if youre a trader or short moderna because you think theyre promotional, i dont know what you do i dont know i used to say theres certain things you would do, theres certain societies that say you have to stop promoting that. That stock you saw jim, you saw the move in serento. Did you see that move on friday on antibodies . They could potentially work. Who are they . I know. That was quite a move. Looking forward to talking to the ceo. That will be good until this serento, it was a fabulous town. You can go back now. I look forward to going back to italy as soon as possible i do, too maybe ill let you have my house. Maybe, maybe not maybe that will be the first place you and i spend some time together jim will we bring our wives or just you and me kind of hiking you know, i mean, either one. When is dr. G. On when do you have them. The 10 00 hour. That stock is paraboliparabolic. David, you would have been eviscerating some of these yes yes. I think thats a fair statement. Carl, i dont know. Hope is springing can we wait maybe maybe there are no outbreaks there are a lot of us in the north who are maybe you want to talk macro, too. Look at oil, carl. Were above 30 now were in the 30s, up almost 10 on crude remember the last contract expiration that did not go well, jim. June expires tomorrow. You have production cuts that seem to have happened faster than some people thought obviously a huge return to driving. All the mobility data bears that out. 32, right . We talked about the three handle last week. They did turn the spigot off. I asked mike worth the ceo of chevron, by far the best oil company i believe and its done well, why didnt he go down there and bid 2 for it. It moved too fast, its not what we do he said. But this time there will be companies that have Storage Space who will if it gets down like that, theyll snap it up i think theyll just go around the tanker theyll rent any tanker. Theyll rent a princess tanker not really a tanker. How about the saudis disclosing stakes in boeing, facebook, city, disney, marriott, berkshire this is all going back to march 31st they were bottom fishing. I thought live nation, thats a real vaccine shot. Isnt that you have to have that work its entertainment they didnt im surprised they didnt take Warren Buffett out of goldman he hammered goldman like you wouldnt believe that stock has been a oneway street now we have a sense. If you handle that order, its not like wow, i have to get people to goldman. I know what buffett is selling but what is he buying . Moderna anything . Moderna i dont think so. No the unlikely a nice start out of the gate going for us here with the opening bell in just 15 minutes. If these gains hold, s p and dow could wipe out their lseoss for the month of may were back in a minute thanks for sharing your savage moves, and especially your awkward ones. Thanks for sharing your cute kids. And your adorable pets. Now its our turn to share. With the geico giveback. A 15 credit on car and motorcycle policies for both current and new customers. And because were committed for the long haul, the credit lasts your full policy term. So thanks again. One good share deserves another. Across america, Business Owners are figuring things out. Finding new ways to serve customers. Connect employees. And work with partners. Comcast business is right there with you. With a network that helps give you speed, reliability and security. And enough bandwidth to handle all your connected devices. Voice Solutions Like remote Call Forwarding and readable voicemail. And safe, convenient installation. When every connection counts, you can count on us. Get the connectivity your business needs. Call today. Comcast business. In the long run, even in the medium run, you wouldnt want to bet against the american economy. This economy will recover. It may take a time it could stretch through the end of next year we really dont know can there be a recovery without a reasonably effected vaccine . Assuming theres not a second wave of coronavirus, i think youll see the economy recover steadily through the second half of this year. Thats the fed chair on 60 minutes last night as jim said before the break, talking to a much broader audience there than he would on our air or in front of congress tomorrow, jim. Where is the balance between remaining upbeat and trying to instill in congress at least some urgency about spending. I think you could say that he the big way people are putting this is we have to wait and see. I think he can do that he can be as optimistic as he was but still wait and see look, theres something theres big lines to get into bars in wisconsin. And theres big bread lines where i live in brooklyn its like were two countries. The food lines were incredibly long these are people who had jobs. So i feel like were in two countries. And look, i want to be part of one healthy country. I want to be clear about that. It does feel like there is joy in some places and theres incredible poverty where there didnt exist three months ago. I dont know i think the poverty gives powell the chance to say we have to be very vigilant about making sure that no more poverty, no more job loss he has to be circumspect because if there is a spike, were right back in the soup remember what dr. Poufauci is talking about, he was invisiting there would be a spike in the fall remember his testimony not that lock long ago where he basically said stay in your home. Yeah. Yeah even his comments about the flag and schools, got attention recently and got the attention of the president when this crisis began, certainly many of us would not have expected it would have gone down political lines almost. Partisan lines in terms of the view of it, but that appears to have happened to your point of being one nation as opposed to two. I dont know its bringing us closer unfortunately no. The opposite i think that there are a lot of people who either feel that the democratic governors and politicians handled this wrong or actually just feel that there is a tremendous amount of quarantine, self quarantine and people were afraid of getting sick then there are a lot of other people who feel healthy and dont mind going out at all. Thats kind of what people are saying, the south is and some of the midwest is about people being judicious, not going out if they have preexisting, the people without preexisting, its their time to shine i dont know sweden made a plan going in thats kind of what youre describing there yes thats the swedish plan. Exactly. You were very much encouraged not to participate they did not close down the economy. But they had the plan going in they articulated the plan, they followed the plan. Whether or not its going to end up being the right plan to follow, at least they had one. This is increasingly the president tweets that it tweets as if he werent the president. We ought to open up the country. Hes president open it up hes putting tremendous pressure on governors to say, listen, its over. Or lets let people out. We open our country. We open our country is the opposite of what a lot of governors feel, including the governors in states who are expected to vote against him right but carl, we are reopening a lot of the country already we have a lot of states that are open, a lot more that are going to follow, carl, in the not too distant future, as long as things remain on a path and we dont see a spike. Yeah. Absolutely thats why we have to keep on top of the case load and the new death count in states like texas who have been dealing with this for weeks. Quick break. Well come back and look at the opening bell on a day where tus getting the week off to a very good start you should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. 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Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Welcome back to squawk on the street. Lets get to a mad dash. Blue pill or red pill for you . Take the red pill elon musk is back. Hes hilarious as ever a little cryptic i suggest people follow when you take dayquil and nightquil adam jonas of Morgan Stanley, to be bullish or not to be bullish. Today he says play to win but at what cost. He has a life, he goes out, maybe he doesnt maybe he zooms people. He said lately weve been getting asked, adam adam, why stay with the equal weight why cant you be more positive on the stock can you imagine being an analyst on tesla and getting pushed . Hey, adam, how are you doing he talks about capital intensity, china risk, shortterm demand risk, competition from amazon. Fremont to potential, union risk, better way to invest in tech and ev batteries. Adam, why stay with equal weight why cant you be more positive on the stock he is unclear because those are some of the more bogus reasons to stay neutral that ive ever heard. Jim, look at what this has been a double since the lows give me the mask. Since the third week of march, right a double you had to be in this this is one that the growth guys, you had to be in this, beyond meat, and you had to be in nvidia. The rest left behind people will want to sell these because today they want to buy ford motor, tomorrow moderna will say nothing 8 for 8 . What is that about lets go back and buy tesla. They may buy tesla any way because theyre taking that red pill its extraordinary its an extraordinary stock. No one knew, it just kind of happened i dont know kind of happened the opposite of Softbanks Vision Fund, david Softbanks Vision Fund has been having a more difficult time of it than tesla, yes thats a fair point. Significant losses there, of course though they are saying that there are that investors that valuing the vision fund at zero is far too pessimistic. Only oil goes to negative, right . This meanwhile, i wanted to ask you, what does it mean for tmobile, that Deutsche Bank gets more . Dont you tell im sorry. No, listen. Tmobile is by far the most important part now of deutsche telecon. The merger with sprint has been completed. There were reports in the wall street journal that softbank is looking to sell additional shares of the combination. They rolled sprint into it obviously owned a good amount of it you could imagine they would want to monetize their stake to sure things up and help fund a potential buyback at softbank that elliott has been pushing them