Note investors, of course, closely monitoring the condition of the president and also keeping a close eye on any progress and stimulus talks we are, as well. Not to mention there is fallout, as well, regarding covid shares of cina world tumbling. The second largest movie chain Regal Cinemas suspending operations at all locations, carl jim, the headline still crossing from meadows talking to fox earlier today saying the president is committed to getting an aid bill done wants to move expeditiously but also be fiscally responsible thats certainly where the markets focus is going to be o today. The fact that the president wants to give state aid, that matters. Speaker pelosi wants to do a deal some urgency coming to it. So, the talks this morning i bet will be productive and i think thats very exciting for the market does it matter to you if its piece meal a little bit for airlines or Something Else or do you still crave something comprehensive is. As long as theres something for states, which i believe there will be and something for small business, then i think america will react positively no matter who leads and the reason is because as we listen to say we know we have to have fire power. If it comes back hard, thats it anyone who tried to stay open is finished im seeing many pictures of brooklyn where it might close. Well, its my darn block where my places are. I think, once again, we need help questionmunicipalities. That has been the key impediment previously at least to getting a deal done as we well know, jim where the congress or the house at least passed what it was originally up as much as a trillion when first 3 trillion bill back in may been reduced and reduced and i dont have any idea where we end up but that money is needed and needed immediately in so many different places by the way, not just cities as some would have you believe and not just blue states but across the board, isnt it . If you dont get it soon, youll see more significant layoffs in these municipal work forces. I believe there is give i think the president knows how small medium size very important and also states more important than i think some of us have portrayed. So, maybe just because the communication is very difficult on this and very private but, obviously, the markets are reflecting something positive. And the markets have been pretty accurate about stimulus at least in terms of talks. Talks this morning, carl, i think could be fruitful. And i think that therefore i wouldnt bet against this market right now. Yeah. And i wuonder, jim, if you think thats what treasuries are reacting to and the bank stocks. Wells fargo up a full percent. Are we looking at an area where stimulus does drive yields i think it drives yields plus i think, remember, the parade of Bank Earnings comes next week. Anything that can make it so they dont have to talk about how theres a big loss ahead again, very positive for the market i dont trust that group at all. I put the oils and the banks in the same group which, obviously, is a group, david, you dont really want to you said oil is uninvestable. You have been saying that for, not that long, but certainly through the course of this year you have been saying it. I think generally a correct view much better not to touch those things even on any rally jim, coming back to just quickly put an end to the stimulus conversation here, well maybe not an end but, i mean, do you get something done before election day . I am just wondering about timing i know youre not the expert a president in the hospital and three senators who are not around right now who are going to be on quarantine. We have less than a month to go before we have an election seems like the time is ticking by here. If senator mcconnell said we really need it and he spoke with the president and the president is doing well. We wish him well then i think you have something. But i know the look, the fact that theres still talks at this late date, that is very positive why waste your time . Why would the secretary waste his time speaking to the speaker and vice versa so, i think theres still, look, i think there might be a little momentum here because the president is set to give some money to states. Maybe not as much as the democrats want david, look, its the senate that worries me because the senate thinks we have, theres a lot of republicans some people say 20 republicans, carl, who believe we have a vshape recovery if you think we have a vshape recovery, why would you ever give more money out . Well, as david points out, the calendar now ecomes a focu because the senate is out until the 19th we know what their priority is going to be. We think we know when they return and that is the confirmation of judge barrett. So, i mean, im just trying to think, jim, the timeline of when you can see checks get into the hands of states. And whoever else might be poised to benefit from a bill all i can say is the way they did the ppp the paycheck shows me they can get it done. I think theyve learned a lot from the way to do it, david, you know that they were initially catch as catch can and now we know the way to get money into peoples hands and, boy, do they ever need it. I think the fact that the states will start the layoffs you and i both know that is where were going to get a big accumulation of unemployed in the next call. Which, by the way, could play a role in the present election it could. It could certainly wont help the overall economy as you start to see these layoffs trickle down from states that are just under enormous pressure given revenues not really about shoring up Pension Funds as Grover Norquist would have you believe help you through a collapse in revenues due to activity economically and in their states, period thats why i am desperately trying to become a new york citizen and not a new jersey citizen after listening to the governor i am fortunate enough, just go back there carl, im fortunate to do well in life, right but when you listen to these, theres obviously desperation because you know if youre governor murphy who was kind enough to come on our show, youre willing to drive people away because you have to do something. And thats why it would be so great if the federal government recognized it. I do think the president is onboard in recognizing something for the states and i want to encourage that outlook because what it says is there could be a deal. Yeah, jim were going to watch that. As for the weekends developments watching the president at walter reed yesterday and on saturday. Bar clays last night said investors are not treating his diagnosis as a major market event. They lowered their expectations of prolonged uncertainty and now seem less worried about a close and contested election we wont get into the weekend polling data, jim. I wonder if you think thats anywhere near being true i thought that was a little, we had the Boris Johnson analogue and Boris Johnson got sick, came back and went up dramatical dramatically david, case by case, wouldnt you say . I would i would. We have an election bearing down on us now. You know, i will say this, jim weve all watched the progress of various drugs quite closely we remember when remdesivir was something that was potentially going to be useful not to mention, of course, the antibody cocktail from regeneron and lily, as well. And the president himself a walking Clinical Trial at this point. I dont know if theres anybody else on the planet that had all the things hes had given how few people outside of the trial at regeneron have had the actual cocktail i dont think anybody had the cocktail remdesivir and the steroid. I was thinking about that and i know a lot of people are saying, hold it. How come the president fwets ge and i dont. Youre right, a cocktail of all the things that need to be done. What theyve accomplished up at regeneron. One thing i want to make clear if youre the president s doctors you would throw everything at this, particularly if the current profile especially if it hasnt indicated any side effects the man is in the atrisk category theyre going to do everything they can and i dont know if you can second guess whats being given to him, carl i just dont think you can i know. Over the weekend said its clear they kind of thrown the kitchen sink but the president , seems to be defying all kinds of expectations given the cdc data for patients who have been in his age group with underlying conditions you mentioned the doctor this morning and he was asked on squawk box the degree which he thinks it helped the president early on in the course of this disease the virus can get ahead of the immune system and we think giving that antibody makes a lot of sense because it is doing what the immune system is supposed to do but hasnt quite done yet thats what we hope happened with the president youre asking me, did we help him . Id like to think so he says its impossible to know with one patient, jim but the evidence we have from hundreds of others is that you can really help them clear the virus. Yes, its very important to understand last week i asked him, look, im being tested at 2 00 a big viral load what do i do he said you want to take the regeneron drug, it reverses the virus load if you can reverse the viral load then i dont want to say beat it, but certainly get out of the danger zone and, david, i think that one other thing is clear when youre say a 74yearold man who is regarded as being obese, the viral load being built is something, look, im just quoting the story. I hope im in his shape when i get there. No about it he is. You can say that look, jim, when did he have it thursday he had the antibody cocktail he had the abbott lab shortterm test that morning then he went to the event. He had tested negative that morning. He goes to the event and comes back and does the abbott again and that was before, that was, you know, in the afternoon i mean the evening and then it was the pcr test which is the somewhat definitive test and the 1 00 a. M. Tweet. So, there we go, carl. Indeed, jim were going to be watching early this afternoon as meadow says to hear about potential discharge lets get to eamon javers with more no specific guidance from the white house but mark meadows the white house chief of staff the decision on whether to release the president back to the white house will be made with the immediate cell te medical team later on today. Well wait and see if they get clearance to do that the president anxious to get out of here. He has been tweeting all morning all caps tweets urging his supporters to vote the president , in effect, campaigning from his hospital room here at walter reed, military hospital. Urging folks to get out and vote in november. As far as where we goclear picte the Vice President is going to remain at the naval observatory the Vice President ial residence until he leaves for utah later on today for that Vice President ial debate. We will not expect to see mike pence over at the white house. And meanwhile as we go through the morning here at walter reed, a bit of a medical tailgate atmosphere here. The supporters of the president have arrived and set up flags and blasting music and playing ma marky mark and wishing him all the best in his recovery, guys well wait and see whether the white house gives us any more medical details later on this morning. Back over to you all right, thank you, eamon jim, we talked about this on friday the degree to which the president , if he has a change of heart regarding what it takes to mitigate the pandemic. Whether or not that would result in changes in policies and this video he gave last night says, i get it ive been to school. You think hes had a change of mindset . I do believe that theres a notion that the president understands that the inside means mask, outside means no mask inside means social distancing outside doesnt. Ive got this mask on just going from the 15 to 24 year olds and we have a huge number of submissions. I think younger people recognize it i dont think its becoming a red state blue state any more. Something that is good precaution is there data everywhere the aerosole professors, yeah, if you wear a mask, you have a much better shot do you think the Tennessee Titans going back to the nfl because they have unlimited fire power and money. Do you think they wish they didnt wear masks . Theres no bubble. You either are in a bubble, which the white house is clearly not. Or you wear masks and you socially distance, eamon no, the white house was a covid factory for a second the reception for judge barrett. The superspreader event theyre calling it what do you think about taking a quick ride in an suv that is medically sealed thank heavens they have a mask lets hope they had more than just masks everyone wore n95s would you want to get in that suv . I think it would be ill advised, frankly just wanted to see. Hey, guys, well get to a lot of the market moving stuff that is going to happen not just today but this week. We have powell speaking on tuesday. Fed minutes. Got some upgrades today of starbucks and regeneron and well get to all oth wn f athe squawk on the street continues. Hide behind the chainsaws. Smart. Yeah. Ok. If youre in a horror movie, you make poor decisions. Its what you do. This was a good idea. Shhhh. Im being quiet. Youre breathing on me if you want to save fifteen percent or more on car insurance, you switch to geico. Its what you do. Lets go to the cemetery Regal Cinemas suspending operation at 500 locations blockbuster films such as the new james bond movie continue to be delayed cina world closing in the uk Company Shares along with amc. Cinimark they look like they will be done the ceo of cineworld will be joining us later this morning. No surprise, guys, jim given how few people are showing up and few to show them to begin with i find that this is something ceo of amc. Look when you dont have, if youre watching netflix, for instance, you know there is going to be an end to the new stuff for the most part, unless they all find a bubble to be able to do movies. So you have this onetwo punch of them delaying movies and then where is the new content coming from, davdavid i dont know where it is going to come from there is limited production going on now went five, six months probably and then the question is what are you going to do . Not just if youre an exhibitor like this, but to your point to the many streaming services that we all rely on for our reliable entertainment, there will be, perhaps, a need to go deeper dean deeper into the catalog. One thing that is amazing about this is you are starting to realize that frankly were back to just video games and nfl. Once the nba is done but the nfl, i bet, we need to see those numbers. Particularly for a game that was last night that was one of the most exciting games that weve seen this year, carl well, your eagles are now ahead of the nfc east, jim congratulations on that win over the niners i think were dominant in the nfc east dominant. No more banged up birds. I see shefter says this morning the titans had no new positives for the first time in seven days i think thats so important because remember where we are day eight is the, you know, a lot of people think the ceo of bioreference labs has often talked about day eight being the cut off. Lets analogize that to what is hapwing the president. You get the better handle than the 14day thing because, again, the titans are being tested by this pcr method which is the method that is closest to 100 so, you got, you know, you got a pretty good timeline and we can see there the performance of cineworld go ahead, carl i was going to say, david, reminds me of the downgrade of at t over a key. Go to underweight, 25 target not so much on theatrical pipeline but more directv. I mean, listen. Direct there is a process going on there for potential sale of that asset and i some point i hope to update people on that. A hope to try to get something announced before the end of the year were only a couple months away. Two to three months from what potentially they wanted to do there. Hbo max they did interview wall street journal had an interview over the weekend that they share would the ceo and hes still hopeful for success of hbo max and still key to the companys future in many ways. Has not gotten off to a great start. Backing up for a moment, back to the conversation about covid jim, were still hovering above 40,000 new cases in the United States thats worth mentioning. Thankfully the rate of serious complications and death have come down as looks whats happening with the president and found different ways to treat the disease and much more well informed and also, frankly, as the population of it getting it is younger the asymptomatics have, the asymptomatics are proving to be problematic for when they come back safe from college the College Numbers that the New York Times presents are dreadful just dreadful. And the younger people are spreading it to the younger people and they dont even know they have it carl, that is really what is driving these new numbers. Yep nine states, guys. Nine states have reported record new case loads in the past seven days so, were going to wrauatch thas the temperatures turn. Vemitee opening bell in about sen nus. Dow and s p broke a fourweek losing streak last week futures up 200 this morning as we await for word about the president s potential discharge from walter reed today squawk on the street debackis in a minute with the opening bell lets get to a mad dash counting down to the opening bell minute and a half, Jim Mcdonalds been the leader and that stock is at 23 the lagger mcdonalds. What a chart great place to be. This morning, bank of america consumers for drivethrough consumption. David, this is the kind of stock that goes up four, five points because of exactly what we are talking about. Very difficult to find restaurants in areas besides new york city where theyve got these great sidewalk things and i just think that the stock has underperformed i believe this is the kind of stock you want to own between here and year end. They are doing very, very wellp. Okay. Estimates got to go up across the board. Everyone on the street. Youll be day after day. So you think theres a bunch of estimate revisions coming exactly higher. And that will help propel the stock. This is a high quality. Carl, you know, this is a very highquality company and to see numbers go higher means the stock goes higher. Period end of story yeah, they have some charts on credit card spending for casual dining versus fast food, jim. And i mean the difference is stark. Their point is that people got tired of their own cooking thats literally in the note and realized that drivethroughs were an efficient way to get fed. I cook every night. Im sick of it david