Becky is off we have a lot to get to. The s p 500 flirting with the new record high. Closing seven points lower futures pointing to a pull back the dow looks like it is off nasdaq off about nine points showing you stocks in europe also under pressure talking about why this would be. Closer to 2 in britain. And treasury yields look at the note looking at. 696. We are starting to see in covid cases pick back up in europe, which may impact here. Well try to talk to dr. Scott gottlieb about that. Fortnite maker epic games taking on apple and google over what it calls anticompetitive behavior giving users a discount and cutting out the e map services which cuts out the ability to take a 30 cut from sales. New users will not be able to download the game and existing users wont be able to download any updates. Google followed the lead and removed the game from the app store and was also hit with a lawsuit. The feature was not reviewed they did it with the express intent of violating the guidelines epic says it is not looking for compensation but looking to get apple to change the par di that ad dropped within moments of news of that lawsuit. It was a month ago tim cook spent about six hours defending the app store and practices there. Go ahead, joe no, no. I was going to do some social commentary you are probably going to do something relevant remember the simpsons in like 2004 President Trump ran and won. They said 2020 was going to be 1984 lucky that didnt happen we are living in or wellian times. So many days i wake up and read something or see something and im like, wow, it came true. I view the commercial as the masses and developers mindlessly handing over 30 of their revenues cancel culture. If you dare to go against something. If you are not supporting, you might get canceled little did he know here we are. Im not a fortnite guy do your kids play . We dont allow our kids to play one comment about the thoughtless developers this is a publicity event. They had their lawsuits ready to go i always thought if you were a developer, you are making a conscious choice those stores, you take up shelf space or they take a cut of the deal epic knew what the deal was. I have a lot of questions or issues when apple starts copying the program and creates the apple version and advances that over somebody elses version we have a debate of creating an app that tries to match or better somebody elses app that is a fair argument or debate it is a crazy debate to somehow say apple is not entitled to take some kind of share having built this platform or device. Users buy the device knowing what the deal is it was said all of these App Developers that are so thrilled or so many want these apps for free who is the ultimate loser in this the consumer ultimately you you are going to pay more for this. If you are for breaking up apple or the app store, the cost will be to you because youll pay more from the foephone. I understand all of the points you are suggesting that government should regulate no. No but the developer has the power here think about the tent calls around fortnite. Its owned by tencent. They own riot games. If they banned together, there could be a backlash among hard core gamers and they wont buy the iphone anymore ultimately apple has to keep developer and customers happy. What is happening here is that epic will try not to negotiate in the public space and with the government and hope that government would come in to do something. I think epic is the loser in the short term, not long perm. Most people who play fortnite do it on a computer or console. Do you listen to yourself business is doing well i sat here i didnt have to say anything i was getting a little teary i was like, what happened, who are you . Did you sleep okay there is nothing ideological about my approach to life. I try to call the balls and the strikes. You are doing well no one could complain. We are not going to do my story about congress leaving they are exhausted theyve accomplished so much wait a minute. They didnt. They didnt do diddly. But they are tired we should tell you and this is not the best news here. Testing crucial but availability varying so widely depending on where you are in the United States some testing numbers have gone down and not up. Well have more after the break. Yesterday, amcs plan to begin opening theaters investors rallying around the plan and driving up the share price as much as 17 yesterday that stock up now 5. 50 we are back after the break. Co. Infinite what ifs . And contingency plans. Creating funds that help target gaps in client portfolios. Tap untapped potential. And strengthen confidence in you. Flexshares. Powered by over a century of investment expertise before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. For a prospectus containing this information. 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. Nationwide, using testing to track the spread some places have long turnaround time and excess. Meg joins usnow. We partners the survey to collect the data they surveyed all 50 states to get a sense of where testing is in the country what they found is maybe 25 get their results same day or next 35 within two to three days anything more than three days is essentially useless. You really want under two days to quarantine. Still 60 are getting useless testresults. What it means in terms of strategy in the u. S. Do i think it would be helpful to have a testing strategy, i do i dont think having each 50 sta states figure out their own approach some states like massachusetts may have excess capacity i will tell you i got tested yesterday because im going on vacation of sorts with our 97yearold grandmother inlaw we all decided to get tested it costed us a small fortune 150 a percent done by a Company Called vault it is a spit test. You do it over zoom. They watch you do it pop it in this envelop and send it out and supposedly ill get it later today. Andrew, ill tell you you are totally right. I did a story about vault a couple of weeks ago. It is a highquality test. I took it this week as well for a vacation next week with family it did take me longer this week than a few weeks ago to get my results and that zoom appointment. Send those in quickly, youll get the results back within two to three days. Thank you i think you were the one when i first mentioned it our next talking with our cnbc contributor, talking testing. You are seeing some of those numbers climb. Are you surprise we are seeing germany and other places that had been so good for so long starting to get along by other numbers. Kaurlt you a caller you are going to see a resurgence in the fall the challenge of having to differentiate covid from ordinary flu will present a challenge. It is a little early i would have expected the up tick later on. Looking backing to 2009 h 1 n 1, it didnt tick up sharply until september. You did see a slightup tick in august what is happening now in europe is outbreaks of these countries. They are probably in the worst case in europe seeing slight increases in germany and United Kingdom the other place where you are seeing a resurgence you have to be concerned japan is only showing about 1,000 cases a day right now. That is a big difference from the last wave where they peaked at 750 cases in terms of people having to quarantine coming this fall the question is if kids go back to school and if kids get quarantined and then parents need to be quarantined youll see rolling quarantines. Mostly, it will be voluntary quarantines with respect to the schools. Your students and families those orders for selfisolation and other countries to control it you exhaust the ability do that. That is what happened during the new york especially deputyic and across the sun belt in places like florida and texas and using selfisolation and tracking and tracing as an effective tool to control the spread we talked about progress and i made a point that we successfully used mono clonals for auto immune. We have seen that it works was it very effective against ebola . How long will it take and is there a problem . You wouldnt need a vaccine as quickly . Is it hard to make those in large quantities where you could satisfy demand it was pretty effective against ebola. More effective when used post exposure once used later in the course of the disease, it wasnt as effective. You couldnt mop it up, if you will these are best if used early think of the drug you would hang in the emergency room if someone comes in who has covid or comorbidities also an optimal drug for a patient who is highrisk. For those highrisk. Think nursing home or health care workers, i dont think well have a supply this year to use the drug in that way look at the companies and supply youll have on hand. Youll probably have a higher risk of treatment. With a little more planning, three or four months ago, with we could have had these quantities we are not going to have those Quantities Available that would have enabled us from talking over biopharmaceuticals and we didnt do that. Back to testing, one of the things we are hearing from investors who are getting pitched, they dont want to make this investment. They dont know. And if it comes too soon, the investment in testing, the view is that it is not a great investment do you think there will be testing for years to come and it will be a good investment for the private sector to make you are going to need to test the covid and potentially test those into the flu even if we have a vaccine. Youll always have people who have a baddout come. When i talk in the big labs, what they tell me is that they are trying to get as much equipment as they can. They are making the Capital Investment they are trying to spur the new defendants, home care tests. Im seeing things all the time there certainly seems to be a lot of capital coming into this space. In terms of capital, cure vac is going public in new york. A lot of big time investors are backing this using the messenger rna approach to a vaccine. Are there a lot of these other companies that have been so focused on these are there other players out there that may have a solution would that contribute to a pressure in pricing and seen the price of 5 a dose and moderna at 15 a dose. Would that put pressure on the pricing . I think youll see skd and Third Generation vaccines. The first generation will not be a final word this may be something you schedule against annually. When others come on the market maybe one dose or delivered orally the companies coming out with the first wave are also working on next generation vaccines. There will be competition in this space and focused on being optimized. You dont need that second boost of dose. Delivering that second dose to get people back to the Doctors Office a lot of people will drop off, probably always great to see you thank you once again melissa. Coming up, a couple interesting stock stories you including a legal defeat for amazon and more about the netflix of china and fan attics brings valuation to more than 6 million. Stay tuned at cdw we get youre always looking to modernize. Yeah. Im just not sure Office Drones were the way to do it. [ laughing ] drone voice lol. Our market share looks good, but. Drone voice where are the bagels . Well, cdw can help you modernize your company the right way, with a scalable infrastructure from hpe, making you more efficient and secure. Great. Oh. [ drones buzz angrily ] lets find a different room. For transformation that works, you need Hewlett Packard enterprise and it orchestration by cdw. People who get it. Welcome back to squawk box. This is our socially distanced version of chairs this morning California Court of appeal ruling amazon can be held liable for defective goods sold on its marketplace. At issue, a defective laptop battery that caught fire and gave a woman third degree burns. Amazon fended off the suit for years. Third party sales makes up 60 of amazon sales. Who is liable . It seems like it is opening up a can of worms. It would imply it would have to review every single product and stand by the safety, which is a huge undertaking i dont know. Should Online Stores be different. If it was a store, like a lululemon. You hurt yourself, hard to hurt yourself with such stretchy pants. You know what i mean joe probably knows what you mean i dont like anything that emboldens the torque bar all of those magnetic business cards going after the ambulance, right we have lawyers watching us most of them hate me i dont know why we have a lot here a son of a lawyer and also a son of a you know what we found that out late in life i was fixated on chairs again. Im afraid to touch the background you are comfortable changing the wiring what else can you change it to hold on i can get you this chair you know this chair. Weve talked about this before i dont want to put you on the spotandrew we are going to new jersey having a Little Family reunion, gathering all together in new jersey i was wondering does it involve flying, which could involve net jets hope. Driving. We night might have to pay some tolls. You know why im holed up here i made a mistake of going to one of the 48 states that you are not allowed to come back to any place in the world it is a 14day quarantine if i go there i think im okay. Ill probably come back to the quarantine going to new jersey is not a risk i do it every day. Not for the sorkin family reunion, no. I hope you change your negative view of new jersey. Youve talked about the factories on the turn pike youve made some comments. Parts of the highway you have to hold your noses. Maybe you should drive by the kernen compound and wave hes been here. There is room for you. They are moving us on now. Could mean anything. Shares of chinese streaming giant igiyi plummeting accusing the Chinese Company of fraud and inflating its numbers. Saying the Company Inflated revenue, user numbers and revenues it is using its own advisors from the geel. Deal spun off of search giant baidu also reported earnings yesterday better than expected but the outlook was more of what was expected with ad sales we are i dont know we are running late. We have to go. You took you too long to read that it wasnt our fault. Coming up, what markets are saying about the economic recovery pointing to a faster bounce back in the s p recent days, we head to break, we look at yesterdays winners and losers experience the joy of a bigger world and a highly connected lexus vehicle at the golden opportunity sales event, lease the 2020 es 350 for 359 a month for 36 months. Experience amazing at your lexus dealer. Good morning u. S. Equity futures this hour indicated lower. If things dont change, down 137 points now or so on the dow. The s p, which tested those new highs again yesterday are down 12 so it gave back the gain it was up six yesterday. It closed down six so we are about 25 points away the Economic Data as we all have seen has been mixed recently economically sensitive sectors have risen over the past week in a minirotation industrials, financials and materials all outperforming the tech sector. Here to discuss the best places for your money, nickelsokevin n. Your title is fixed income but you do equities as well. After a couple of years, you probably said, hey, give me Something Else to do here. I just cant do fixed income give me something more interesting. We are going to use your expertise on both of those issues do you think the stock market is not just responding to stimulus and free money maybe there are some green chutes or a faster snap back than people think . I definitely think so one of the things people often misunderstood is that they look at the economy and the market in the same light you really cant do that the economy is backwards looking. So we are looking at data that is several months old. The market is actually forward looking. What the market is ascertaining right now, we are looking at a pick up of earnings. If the market can really glean out the fact that these companies can be more efficient, even though we still have unemployment at a pretty high level. You can still see a run here you almost feel, as we watch this, kevin, you almost feel guilty embracing the market moving up when so many people are still hurting and unemployed and waiting for checks it causes people to say the stock market is not helping the man on the street. Do you think that is fair . Sooner or later, a good stock market seems to be reflecting better Economic Times for everybody. You are right as you go along, that Means Companies are make money and employing people right now, we are looking at and trying to see those Small Businesses we really need to see those people going back to work. Small and medium size businesses employ about 50 of employees of the workforce. We want to see those Companies Start to hire. We want to see them feel good about the economy. This past week, the nfib, Small Business survey fell a bit but it is still at levels higher or right at the pre covid level there is green chutes that would lead me to believe this market or this economy would turn around fairly soon you are bullish you are tempered you say grind higher better than people saying grind lowers at the lows you remain bullish but there is some cautious, tempered enthusiasm that is correct we have been putting in trailing stocks well allow the market to continue to run and not take our chips off the table but if we get slight pull backs, well talk some of the money off we set several of these stock levels in place so we are not getting back the gains this is a technical driven market the fed is a backstop. As we say in finance, dont fight the fed. You have a strong trend here in the u. S. So you are riding this momentum. And we are not getting investors that optimistic. We are in that neutral zone over the last couple of months. Weve touched extreme optimism at the moment but not to the point we are worried well have a pull back. They are wrapping me, kevin one more question here could something in november could the election change your outlook if it became clear we ar