Good morning im dominic chu. We begin with breaking news and two biotech stocks surging ahead of the opening bell. First is gilead. Soaring here on report patients are responding well to one of its coronavirus treatments at a hospital in chicago. Those shares up by 13 premarket trade can you see over the course of the last 24 hours, a massive move for gilead. The second is moderna. They secure key funding for the development of a coronavirus vaccine. Those shares up 19 premarket we have more about those two stocks throughout the course of the morning. Now to the Broader Market this morning. Hopes around gilead, futures right now are surging. The dow would be implied around 600 points, the s p by about 64, nasdaq by about 140 points believe it or not, this is well off the highs of the session right now. Well continue to watch that lets check the etfs that track. You can see the dow etf, the diamond up about 3 . S p 500 etf, the spider, spy there up 2. 5 . And the qqq trust up about 2 th
The competitors, but in this case they are different. This is something we want to get done very quickly. Vice president mike pence is scheduled to brief lawmakers on the coronavirus tomorrow. The house can start considering an 8 billion bill to fund the governments response by wednesday. Heres a look now at the cases in california. So far, 43 people have tested positive for covid19. 19 of those cases were not related to flights. Of those 19, you can see the breakdown behind me, 10 are travel related, five are person toperson, and for community transmissions. Bay area county has the most cases in santa clara and they have nine. Reporter the number of coronavirus patients in Santa Clara County have tripled over the weekend. There are now nine confirmed cases, all adults, four of them that required hospitalization. The majority of those hospitalize have Chronic Health conditions, and the others are i cited at home. Have to assume this is Community Spread now. It is still not in any kind
Im Charles Payne in for stuart varney. Varney company starts right now. While cnbc is on break, we are open for business. Charles hundreds of americans back in the u. S. This morning after being evacuated from the coronavirus affected diamond princess cruise ship. Lauren, we know some have tested positive for the virus right now. Lauren yes. So the u. S. Chartered the two flights that arrived early this morning, one in california and one in texas. As they were going from that cruise ship docked in japan to the charter plane, 14 tested positive for the coronavirus. That essentially doubles the number of infections right here in the u. S. We had 15, now you have 14 coming in. They will be in quarantine. They were already in quarantine for about two weeks but they will be in quarantine at those two air force bases for another 14 days. Charles thank you very much. Mean meanwhile, macao says the casinos can reopen. Susan its a big deal especially for casino shares that trade in the u. S. ,
That House Democrats may be too afraid, too afraid to transmit their shoddy work product to the senate. Mr. President , looks like the prosecutors are getting cold feet. Neil whether it is cold feet or whatever, the fact of the matter, it is unusual, not unprecedented for the house after impeaching to say, wait a minute, well see exactly what the senate plans to do before we pass along the articles of impeachment to the senate. Wall street journal Global Economics editor jon hilsenrath, democratic strategist capri cafaro, exactly how long the markets will ignore this uncertainty. It is rather remarkable, if you think about it, jon, by and large, actually throughout this process the markets have focused on everything from trade, corporate earnings, the strength of the consumer, the market, housing, not a one, not a one on impeachment. What do you make of that . Well i mean i think the market sees an economy that is doing pretty well. Were going, were in our 11th year of economic expansi
Housing data rebounded with Building Permits at their highest levels in 12 years we are set once again for record time close on the nasdaq anything positive, of course, is a record the s p has just dipped negative the dow has been negative for most of the afternoon. Joining us for the full first hour of the show, steve weiss from short Hill Capital Partners steve, very good to see you. How you doing . Good to see you what stands out as to whether or not were going to issee a meaningful move higher or lower . Its all about trade. Home depots announcement aside, which wasnt terrible wasnt terrible or was terrible was not terrible. And the stocks appropriately are saying, theres lots of people buying it into the earnings. And home depot, lets face it, theyve delivered remarkably over the last decade, particularly since new management came in but i dont think its really a referendum this report on the health of the consumer, which is what the market is based upon. And appropriately, were b