Good morning. Welcome to squawk box. Andrew ross sorkin with joe kernen and melissa lee becky is off today well go straight to show you how the markets are reacting on the back of that news. S p looking to fall 60 points. The biggest premarket decliners on the you dow looking at boeing, intel and apple off in some cases more than 2 or 3 eamon javers has been covering this story all night and joins us now with the latest good morning. Some very tough news for the president , the first lady and their family as the president and first lady have tested positive first, there was a report of bloomberg that hope hicks, the campaign aid to the president , travels with him a lot, tested positive she was seen traveling with the president on air force one, often photographed without a mask as with we watch some of those pictures of hope hicks traveling with the president a lot of the senior aids there shortly after 1 00 a. M. East coast time sending out a letter saying the president and first lad
As the seasons begin to turn, there could be more deaths and of course serious illnesses ahead. City, we saw the new york rate of positive tests at more than 3 for the first time in months. Lead to possible lockdowns either officially by the government or unofficially as residents opt on their own to stay home again. The Economic Data seems to be turning in our favor. We saw data with regards to consumer spending, Consumer Confidence. It is still a pretty delicate stage right now. Joe there are always concerns people are talking about, the lack of fiscal stimulus, the fact that we might get another wave with the virus. Gains inntinue to see Consumer Confidence. It is hard to see on this chart but it is the biggest one month sequential gain of this headline measure in 17 years. Right now, the arrows are still going up. Romaine if you would to be a glass halffull or halfempty, i should say you look at the idea that we have not quite recovered from prepandemic levels. This is a subsection
There is no question, in all my years, this is the oddest jobs day, with a bomb shale with a bombshell earlier this morning. The president had the first have contracted the virus. We will show a shot of the white house here in a bit, describing the second floor and the president s president ial rooms. Right now, we are beginning to hear with our bloomberg reporting from people in washington. Jonathan heard from jen jacob in her reporting before the top of the hour on the aids close to closeesident the aides to the president that were concerned. We understand the Vice President has tested negative, so that is good news for mike pence. What we dont know yet is whether former Vice President joe biden is out. We understand he will be tested at some point today. It is a highprofile track and trace. Everyone that has been in contact with the president , with hope hicks over the last week or so. Who where they . Have they been tested . It is an odd payrolls friday because 29 minutes away from
They missed estimates by a wide margin the expectation was for over 800,000. And tech stocks are broadly underperforming to day, unwinding yesterdays gains. Amazon, apple, facebook, and microsoft all heading lower. 59 minutes after the session and were down 2 for those names. Power play. Pete . 5 for the s p 500 lets get to the president s diagnosis and impact it could have on a broad range of issues. Were looking at the potential impact on stimulus talks meg has the details on testing at the white house mike santoli tracking what it means for the market lets begin with what we know surrounding the president at this hour. Yeah. What we know is this diagnosis is now upended the president ial campaign a month out from election day the president s Campaign Team put out a statement earlier today saying that all previously scheduled events that involved the president of the United States have now been canceled. What theyre saying is that theyre going to maybe temporarily postpone some of th
As they transition. Why not just pass these few targeted essentials to keep america going and get through this difficult pandemic period . Why not . Jon do you have a deadline for these negotiations in mind . Larry no, i do not have a deadline in mind. I am not speaking for the Senate Republican conference, but i do not think mr. Mnuchin or mr. Meadows or President Trump has a deadline in mind. President trump has said numerous times he will go further than some people in the senate. I think that has always been a slightly encouraging position. We are willing to do business. You larry, can i say thank and i apologize for my persistence but i think these are important issues. Larry as a former broadcast anchor, i understand the business and a professional is a professional. I salute you. Jon larry kudlow, thank you so much. Send our best to the white house, the president and the first lady. David from bloomberg World Headquarters in new york, i am david westin, welcome to balance of pow