Good morning welcome to squawk box. Im becky quick with Andrew Ross Sorkin and joe kernen. Welcome back both of you some big moves we are looking at today. Lets look where things stand with the markets dow futures are off by 34. The big news is happening with technology stocks. Down 343 points. Thats big you are talking 3 of the market or 3 decline for the index. Thats a big deal when you look at what happened last week on thursday, nasdaq was off 5 on friday, another one and a quarter percent. You are taurking 6 and a quarter decline. Because of what is happening with the biggest stocks in that. Tesla indicated down 11 in the premarket Asml Holdings down nvidia down advanced microoff off 4 . Those that have boosted that weve seen selling off today you are still looking with these declines at a market at higher levels weve run up quickly and we are seeing it now joe. Watching it head higher watching it ever day, we are like this tech stuff is insane benefitting from what we are all liv
Looking to open off 37 points. The 10year note stands at a point. We are looking at. 672 melissa lee in the house that was a major move we are back up towards those highs right now. We saw lots of ramifications in the market looking at how quickly it moves higher. Im trying to watch whatever information i have is about 12 seconds old we are all in a house somewhere. Just not together. It is good to see you although i cant see you now. Im looking at the board from 15 seconds ago. We are going to power through this well up an update on why we are all doing this new case numbers have been declining across the country but testing shortages are calling those numbers into request the average number of covid cases down 19 from july 28 but testing has declined over the same time period amc to reopen u. S. Theaters august 20 and hopes to have twothirds of theaters open. Says all staff and customers must wear masks. That is the change from comments in june that mask wearing would be encouraged b
Chairman shelby and his staff for letting us try this and see how this kind of information gathering works for appropriators. Its not a markup. There will be no voting today, but were going to get some really important information. Yesterday, the new coronavirus cases passed 50,000 for the first time, making it a single day record. This morning, 128,000 americans have died and nearly 2. 7 million have tested positive for covid19. Of course, the thoughts of myself and everyone on this committee are with those individuals and those families whove been affected. I called this hearing really to look at an update on the efforts that the administrations put together and, frankly members of this committee were very involved in to see if we couldnt establish a new way to look at responding to pandemics. I think we have the chance to actually write a new important chapter in what that response looks like. Developing the right vaccine, the right therapeutics, the right testing is important. And
Senator blunt the appropriation subcommittee on labor, health and Human Services, education and related agencies will come together. Im glad to be here this morning with my colleagues, some offices or from some other location. This is the first appropriations hearing being held in person and virtually and want to thank chairman shelby and his staff for letting us try this and see how this kind of information gathering works for appropriators. Its not a markup. There will be no voting today, but were going to get some really important information. Yesterday, the new coronavirus cases passed 50,000 for the first time, making it a single day record. This morning, 128,000 americans have died and nearly 2. 7 million have tested positive for covid19. Of course, the thoughts of myself and everyone on this committee are with those individuals and those families whove been affected. I called this hearing really to look at an update on the efforts that the administrations put together and, frank
Weigh s wider restrictions on huawei road map begins with apples coronavirus warning cautioning it does not expect to meet quarterly revenue forecasts. Shares are sinking and dragging the dow down with it plus big tech needs more regulation. Why Mark Zuckerberg is calling for more scrutiny of facebook. And walmart earnings look to fall short as the whole day season takes a hit well hear exclusively from Doug Mcmillon in a few moments. Apple warns it will not meet prior revenue projection due to the coronavirus outbreak the virus limited iphone production and resulted in weaker demand in china jim was talking about getting hit on the supply and the demand side although that original range was above estimates. So how much are we really losing i think that people dont want to hear this. Everyone that i spoke to the chatter is come on, jim, its really bad i disagree in terms of the rest of the world its gotten better part of what i hear, the work i do dont forget, a lot of Service Revenue