Trade iing at levels we havent seen in nearly two decades amid falling demand and an expected jump in production and the virus itself remains front and center. President trump e iine ining gus until the end of april as the u. S. Cases top 150,000 weve got great guests join ing us, the ceo of medical supply Company Henry Schein and the head of amid this turbulent market with 59 minutes left, we are up 2. 8 led by helhealth care, tech and Consumer Staples lets focus in on the big stories. Meg is going to join us with the latest on testing and treatment. Kayla has the latest from lawmakers and mike is tracking all the Market Action but meg, first to you hi, guys. Lets start with Johnson Johnson. That news theyve selected their lead candidate for Vaccine Development. Really moving their stock higher and causing a lot of optimism that well see a vaccine in timelines that are faster than expected companies saying it plans to tart human Clinical Trials in september. Months faster than they pr
People have been working very, very hard today. I tell you, for a long time, they have been working. Before i begin, i want to express our nations well wishes to Prime Minister Boris Johnson as he wages his own personal fight with the virus. All americans are praying for him. Hes a friend of mine. Hes a great gentleman and a great leader. He is, as you know, he was brought to the hospital today. Im hopeful and sure that he is going to be fine. Hes a strong man, a strong person. Today, every patriotic american heart beats in solidarity with the incredible people of new york and new jersey. They have really become a very hot zone. Some very good things are happening. In new york, the first time aware of the deaths were less from the previous day. That is the first drop so far. Maybe that is a good sign. Could be. The hospital levels are starting to perhaps decrease. It has been very short but perhaps decrease. We wish Governor Cuomo and all the people in new york and new jersey, your gov
People in africa but officially barely 50 coronavirus deaths across the continent ahead of the w. H. O. Says those numbers should be seen as a warning. But top u. S. Official facing the coronavirus says expect 200000 deaths and millions of infections. And from profit making to Community Building Time Restaurants night feeding our support locals. For the top u. K. Health official has offered a stark assessment of how long it may be before life here and elsewhere goes back to what we all took for granted just a few weeks ago the u. K. Steps the chief medical officer says social distancing rules will be refuse after 3 weeks but says that it may be 6 months before life can return to normal dr jenny harris says relaxing social distancing efforts sisu could risk a dangerous 2nd pick meanwhile in the u. S. The countrys foremost Infectious Disease expert says the virus may cause as many as 200000 deaths along with millions of infections dr anthony for she offered that prognosis as the federal
Jobless claims, lowest since april. The president agreeing to a twoweek delay on the tariff pause. Plus, the ecb is launching a new bondbuying program. Could it impact fed Decision Making until the next week and as the democrats get set to debate tonight, Elizabeth Warren propose ago sweeping increase in Social Security benefits financed by taxes on wealth the president delaying the imposition of good will tariffs. All of this coming ahead of planned meetings between the u. S. And china in early october. Earlier on squawk, the treasury secretary described the state of trade between those two countries. Weve had a series of principal level conversations. We have a deputies meeting planned in the next two weeks where the chinese will be coming here and working on material the vice premier coming here at the beginning of october to meet with ambassador lighthouser and myself we look forward to making progress over the next few weeks. Set tariffs could go up, they could go down. Hes lookin
They know nothing after a day where the nasdaq climbed. 30 , although we were much higher most of the day, this feels like one of the moments where the bulls are trying to have it both ways on a bunch of key issues. Thats not good. Some things are mutually exclusive. Today was a goodlooking day that was actually quite ugly yes, the inside didnt lock like the outside. And you know i dont think you should judge a book by its cover. I know hope springs eternal. But today we saw too much hope too much hope springing eternal. And some of these hopes simply cant be reconciled. So they wont work in the end. What do i mean you cant have the bank stocks keep going up while the financial tech stocks also go up its either one or the other, because Portfolio Managers only go all in on fintech when theyre scared to own the banks. You shouldnt have a rally in old tech coupled with a rally in new tech that doesnt work. They tend to trade in opposite directions today you had the soft goods stocks runn