I think you need about 25 points to get back to the previous record that was set, were about 25. 68 points below it. The s p futures indicated up by 21 s p has now been on a sevenday winning streak, and youre looking at the longest winning streak its seen since april of 2019 nasdaq was down yesterday, but it is indicated up by close to 60 points this morning the dow was up by over 350 points yesterday to kick off the week treasury market this morning, right now youre looking at the tenyear yielding right about where it has been. 0. 599 that yields a little higher than we have been sitting. Brian, this news about putin and this potential vaccine is huge, but i think we do need to take it with a grain of salt. Youve been all over this already this morning. Well, trying to make sense of it, becky. Good morning as well you have what you think are the markets sort of key points, right . Trillions of dollars in stimulus, potential for payroll tax cuts, all the market themes weve been talking about all day long powering the markets higher seven days in a row. You wake up at 4 00 in the morning, and russia says, oh, by the way, we have a working vaccine. Its been approved by our institute, and i gave it to my daughter says Vladimir Putin it is a huge developing story. I think, guys, it really whether or not you believe or not and theres going to be a lot of scientists that want to see the data what is this vaccine what is it based on . How many doses are available how much does it cost . Does the world get it . Either way, the market did move a little we were up before the headlines crossed, but it did move a little on this news. And i think, becky, it does call into question what happens on the day and whether that day is today or not, the day the world gets a working vaccine, what happens . What do we do . Do we i guess drink some vodka do we streak down the street i have no idea you know, i might. Look, heres how i kind of look at this news just from what weve been hearing in the last several months from experts, there is a huge debate here in the United States taking place about whether these potential vaccine candidates should be fast tracked even more and brought directly to the public before it goes through the extensive phase one, phase two, phase three testing. The phase three testing you would normally see, its a very high bar they want to make sure not only is it safe for people to take but also there is efficacy we heard from dr. Anthony fauci theres a real risk that you are not going to see something that has 90 or north in terms of its effectiveness. The fda is now looking at 50 as the floor. If they can get 50 effectiveness, they would think that is great. 60, 75 even better. But youre probably not talking about a vaccine where you have 93 effectiveness like you do with the measles shot. My guess is and this is completely a guess weve got dr. Scott gottlieb on in a little bit. We can ask him more about this my guess is the russians have taken a candidate and fast forwarded it without doing a lot of those extensive studies that youre going to see on vaccine candidates here in the United States there are people here in the United States pushing for us to do the very same thing if you talk to some of the more cautious experts, some of the people who look at this, they say, no, we do this for a reason it would be disastrous if you approved a vaccine and it turned out it wasnt safe or didnt work very well, that people would lose faith in vaccination programs its difficult enough to get people to accept vaccinations and do this. There are more people in the United States who are antivaxxers theres a real reason you go through these extensive steps. Again, totally a guess but i dont know how they would have had time to do all the testing that we are making sure every one of the vaccination candidates in the United States have gone through. Thats just a safety question i think when Scott Gottlieb does join us in five or ten minutes times one of the questions would be look at the data weve got so far from the u. S. And european triel trials if you could put safety aside, have any of them shown enough effectiveness, enough antibodies or antigens or whatever theyre trying to create im not sure were there yet on any of the u. S. Data points. To that point, whether its a safety concern or effectiveness concern with the russian vaccine, i doubt well get the data i doubt well get the data today but nonetheless the market is reacting the other thing i was going to say quickly is the last two trading sessions weve already seen a very big rotation out of the tech outperformers into cyclicals and the same thing seems to be playing out this morning if youre looking at the european markets, Asset Classes that are trading like gold golds down 2 the tenyear is almost back above 0. Of this morni6 this morg it does look like were going to sea more of those cyclical values outperform this morning brian, to your point, it would be amazing if we could see this vaccination. Thats it you know whats weird . You put out the news of course twitter is whatever you want to call it. Theres a group of people that doesnt want to believe it i dont know why that is its like oh, well, its not real or its russia. It must be fake. Maybe it is fake, who knows. Im not calling this fake news it would not surprise me if this is a real candidate. My only question is is it something that has been rigorously tested. And look, i think it is amazing and your point to what happens to the market when this happens, when you first announced this this morning, i was blow drying my hair listening to it, and when you first announced this i was like oh, my gosh what did he say this would be so amazing. Yeah, amazing and one thing weve all been waiting for i will say just in the last week identi ive been hoping and hanging my hat on this vaccine as a Silver Bullet, but what ive heard from Anthony Fauci and Scott Gottlieb did raise some concerns about how effective this is going to be whether it will be a Silver Bullet or whether we need to figure out a way to live with this over the next several years as we get better and better medications that can deal with once you get covid making sure you dont come down with the severe symptoms. And you heard Matthew Harrison talk about theres a lot of candidates out there, not just on the vaccine side but on the antibody side, the treatment side, regeneron and others he thinks we could have real candidates by september. September is next month. Let me give you a for reasons to be optimistic. The reproduction rate has been held steady. The question ive got for dr. Scott gottlieb is this were starting to get some indications that americans may be koescloser to herd immunity n we think because t cell reproduction rates have seemed higher in some communities ironically corona, queens, a few weeks ago or a month ago, they found that 25 of the population had developed t cells or antibodies and 25 was not ill indicating that perhaps there is a greater capacity for amazing bodies to skries to generate t antibodies than we think theres a lot of terrible news out there and a lot of families are suffering, but the markets, i think, have looked at the fact 1968, 60 Million People got avian flu, 150,000 or so americans ended up dying from that, about 200,000 in todays numbers. No vaccine was ever created for that you can debate whether or not we have a vaccine it still exists in some form, the point is i think the market is at least looked out a year and said life will hopefully be much different and maybe much more normal than it is right now. Thats the optimistic view the only other point bringing back to the markets is that european markets were pretty strong before this news crossed. Theyve added to that strength throughout their trading session, and asian markets also were pretty strong this morning other than china before this news broke so either way you saw quite strong reaction to u. S. To the u. S. Close yesterday in asia and european markets. Putin bought calls object dakot o the dax and then released the move. According to reports which is encouraging to all of our points whether this is to be trusted or not we want to bring some other data points as well of course this will be fabulously good news and e with all ho we all hope it is true the impact of the pandemic on different parts of the economy retail, Simon Property group said it collected about 73 of its rents from retailers in july thats up from 51 in april and may and 69 in in ujune the company said about 91 of its tenants are back open for business the ceo said he wouldnt comment on a report that said amazon was considering converting some closed stores into distribution hubs the stock closed up 5 on that news yesterday this morning adding a couple percent, 2 or 3 after the earnings report. In the meantime, airline shares surged in yesterdays session after the tsa said that air travel hit the highest volume in nearly five months 831,000 people traveled on sunday alone thats the highest level since march 17th still, tsa traffic is down about 70 from the same time a year ago. Labor unions and Airline Executives have been pushing for 25 billion in council assistan Additional Service if you take a look at the Airline Stocks, theyre surging once again today after all of the news that weve been talking about this morning and that potential for a russian vaccine because a vaccine would certainly mean that people would feel much more comfortable flying and traveling again American Airlines is leading the way among the Airline Stocks up about 5. 7 look at that, wow, good stuff there. College footballs fall season is in jeopardy. The midamerica conference threw in the towel on saturday, and now the Mountain West conference has become the second to postpone until at least next spring they want to play in the spring and i guess again in the fall. The big call is going to be from what they call the power five conferences, the big ten, the pac12, the acc, et cetera, and that decision is expected as soon as today. It all comes amid a push by some student athletes to keep the season impact. Clemson quarterback Trevor Lawrence arguing on twitter that the players are just as likely to contract covid where they are sent home to communities where families will be responsible for their medical care and expenses as well. President trump retweeted the clemson quarterback ask and said the student athletes have been working too hard for their season to be canceled. Wewanttoplay. You talk about economic debates, and becky, i know you went to rutgers. I with dont Virginia Tech big football school, you want to have safety first, but lets not and im not saying they should play. Im not making the argument one way or the other, but i can tell you this much, the financial status of some of these big schools is going to be blown to smithereens without football not saying we should have it thats not the reason to do it if its unsafe its a multibillion dollars industry. Yeah, but the liability i mean, that has to be what they are making these decisions based on if somebody gets sick, if somebody takes it home to a parent or grandparent and they either wind up on a ventilator or die, i think the liability i probably why the schools are making these decisions the quarterbacks probably right, the idea that these kids are just as likely to come out with it in the community, the question is whos going to be responsible for it and whos liable for what happens in these situations arent thai juey just postponin to the spring at this point . Those other conferences were. Thats what they were suggesting flu season is november to february or march, right, so that would be that would seem to be less likely. But you are right, and you know, this is litigation nation, and everything does come down to that liability issue. Id just say you could have all the players if they really want to play sign waivers, for example, and obviously as you said at the top brian, it all comes back to safety the professional sports havent been that safe, which would be the deal breaker either way. I think theres another factor we should all be considering thats the utility that a lot of people, millions and millions of people get from watching it. And that should be considered. I dont think, the peak where is its a case of theres no ppe theres no Testing Capacity that means we have to totally prioritize all efforts to go to those people suffering and i think you can weigh things up to say, look, if you can get the sport on millions and millions of people want to see it and that should be also considered, i think, in these decisionmaking processes. Did you just say we should not give the ppe and the tests to the people who need it the most because we want sports back no, i did not i said were not at the point where weve run out to an extent where thats not considered. If you were short on those things, then that would apply. Clearly there is the ability to were kind of short on tests. I mean, we have millions and millions and millions of tests and i think its reasonable and we have a lot of places where you cant get it and where youre waiting seven days to get them back. Thats people suffering from the disease. No, it wolf, youve got areas where theyre able to get tests back in a day or two that should be the case. If you can get that anywhere in the nation, then i think you can have the conversation about how we have plenty of tests. If you wait seven days its completely ineffective because very few people will actually sit around and quarantine and do what theyre supposed to do and stay home and wait for that test to come back. At the moment, you think there should not be a single bit of sport being played anywhere across the whole world. Thats not what i said. We have plenty of ppe and plenty of testing id like to see more testing around the schools so we can get the schools back in rather than College Football im thrilled to have Major League Sports coming back on i think thats great theyve got the money and the ability to what im saying becky, which is totally fair and accurate is there is a different hierarchy of things that can be prioritized. School is one that should be top of the list because it brings huge value to the children and to the parents both economically, morally, socially. Similarly sports and let the kids back in school first. Of course sports on top of that initially, you know, will bring many more than just the people playing, were not doing it for their wages. Were not doing it for the tv revenue. Were doing it for the millions of people that will enjoy watching it. There is a hierarchy of things you can prioritize to bring back i know weve got to go, a couple quick things. The waivers wont work, wolf, i would just say this. This is the United States and anybody can say, well, i signed it under duress. The whole team signed it i didnt want to sign it i felt like i had to that would sort of rip up that contract if you will i know weve got the president of the university of arizona coming on rlater in the show. If youre able to come back to school, should you also play sports i can tell you this much College Students arent going to sit in their apartments and not see anybody. Im just going to make a wild assumption that whether or not youre on the football field or in a classroom or in a bar or a fraternity house, whatever it is, youre going to socialize and not limit im just making a wild guess about the behavior of College Students. People will continue to make choices either way. Yeah. Okay, guys, when we come back, we will talk more about that breaking news out of russia overnight. We will ask dr. Scott gottlieb about the Covid Vaccine that was just that just received approval by the countrys Health Ministry there. Stock futures did pick up steam after that announcement. Last we checked we were looking at the dow futures indicated up now by about 277 points. S p futures up 22. Thats just within a couple of points of where the alltime closing high is for the s p 500. Another three points higher and youd be there nasdaq indicated up by about 54 points and squawk box will be right back i keep working my way back to you, babe with a happiness that died i let it get away servicenow. The smarter way to workflow. Hike Simon Pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. He scores stanley cup champions touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. News breaking overnight, if you are just waking up listen to this, russia president Vladimir Putin said that the first russian produced vaccine for covid19 has received Regulatory Approval from the countrys Health Ministry. The vaccine was developed by moscows Gamalea Institute putin said it formed stable immunity and passes all necessary safety checks. Putin also said one of his daughters has received that vaccine. Joining us is dr. Scott gottlieb, hes on the boards of pfizer and illumina. What do you think of this news weve been trying to figure out what it means and potentially where we go from here. Well, i wouldnt take it certainly not outside a Clinical Trial right now. It appears that its only been tested in several hundred patients at most some reports say its been in as few as 100 patients. Its based on a viral vector being used to deliver the gene sequence you want to elicit immunity against. Its not a trivial vaccine in terms of a technical complexity that goes into manufacturing a vaccine like this. If you remember, the chinese were also developing an add kn