Transcripts For CNBC Squawk Box 20141001 : comparemela.com

Transcripts For CNBC Squawk Box 20141001

Ill send it back to you. U. S. Stock futures indicating a higher open. October has actually ended up higher 50 times in the last 86 years. Oil a little higher, but still in the 98 range. Gas, he paid 2. 89 a gallon. Tencareer yield, 2. 49 . The strengthening u. S. Dollar has been and continues to be a bigger story. There is some chatter out there, guys. It could see parity. One to one euro slshl dollar. Weve been talking about this for a long time. At 1. 26, its already split quite a ways. Parity . That is a long way to go. We were there, but a long time ago. 50 pounds ago, actually, in my case. Gold is trying to hang on above 1200 bucks. Do you sit here in the afternoon in this seat . Yes, i do. How did you know . Because i watch you and i see youre messing with all the computers. Now i know who to plame. No, i need to raise them. No. Ing on, better. Were going to get to this mornings confirmed story. A confirmed ebola patient in texas. Meg, good morning. Good morning, andrew. A few details coming out when the case was confirmed. Tom frieden getting a bit of a timeline about how this patient arrived in the United States. He was traveling here from liberia to visit team. It wasnt until about four to five days later that he started showing symptoms, which is important because theyre saying these only spread when the patients are symptomatic, like showing the sign of a fever. Thats an important thing to note. On sunday, the patient was admitted to the hospital and placed in isolation where he is currently being treated. Frieden did outstanding a few steps theyre taking. The first steps are ensuring nobody else gets infected. He said there is a team from cdc coming to dallas. We have a Team En Route to texas now. We will work hand in hand with state and local and Hospital Public Health and epidemologic staff to monitor them for 21 days to see if they have fever. This is core Public Health work. This is what we do in Public Health. That patient didnt have symptoms, didnt have a fever until he got on the plane. They are tracing the contact he came into with his family, with Health Care Workers. Thats a big job theyre doing there. He also stressed he has no doubt that we will control this case and it will not spread widely here in the United States. Guys. Meg, we have a bunch of questions. I have two. Im going to start with this one. Do we have any idea or any estimate of how much people this particular patient was in clinical contact with . When we talk about contact, its not just being around other people. What exactly has to happen . Frieden telling us yesterday it was probably a handful of people he kapt contact in contact with from his family and the Health Care Team hes been involved with. Ebola doesnt make contact through the air. You have to come into physical contact with it. Its bodily fluids. Meg, what about sweat . If you hug someone who has it, what about the idea that if you share a drink with them or if they sneeze on you . Would that count . Would that be something thats contagious . When you say that they dont spread it wh when they dont have symptoms, does that mean that youre less likely to get it or theyre saying you need to be showing symptoms and the virus needs to take time to work itself up to be contagious. If youre not showing symptoms, youre not spreading it to other people. Talking about what kinds of bodily fluids you could take to spread this disease, it has to be going from one persons body into you know, the skin cut, through your eyes, your nose, your mouth, not where youre sitting next to the somebody on the plane and you sneeze. This is not spread as easily as a cold. Meg, again, im on the cdcs website. If you go to ebola and if you go to transmission, this is the first thing you need. The natural reservoir of ebola has not been identified. The manner in which it first appears is unknown. So with all due respect to the head of the cdc, how can he is and i know this is his job is to cool people off a bit, but how can he is dont worry, weve got it covered. We dont know how many people this infected patient came in contact with. Hes visiting family in liberia, he comes to the United States, hugs them, he shares time with them. Do you believe the cdc is being forthcoming . I think theyre trying to be responsible and commuting what they know medically about how ebola spreads. They dont want people to panic. People are clearly very worried. Theyre worried about travel. Theyre worried about just how far this could spread. Right now what were hearing is that they are confident they can contain this. And its important to note even before this case was diagnosed here in the United States, this has spread to nigeria. There was a patient who traveled to nigeria and can did get into contact with i think 19 people there because they didnt have the same protocols in place to trace the contact and put that patient in isolation immediately. Even before this case was diagnosed, they said they think that have that in control in nigeria. Its important to note that they think they have it under control there. We have a lot of protocols in place to make sure this doesnt spread. One thing that did kern me is this gentleman showed up at the emergency room last friday. At that point, the emergency room took a look at him and sent him back with antibiotics. This was a week after they had been figuring out what to do with someone with ebola showed up. You may not know the answers to this, but did he tell them he had just come from liberia . What does ebola look like in the early stages to make it difficult to determine what it is . Its unclear why that happened, why they treated him with antibiotics. I think it does show a lot of similarities at the beginning. They were hoping it was Something Else. Clearly, thats worrisome that he was treated with antibiotics and sent home two days before being admitted and then, of course, confirmed to have ebola. Obviously, a lot of questions. Meg, thank you for taking aus these questions from us. We will check in with you later this morning. Megan is on the scene there in dallas. You have to stay calm, but the cdcs website is not doing anybody any favors. I just read you the top of it. This is the cdcs own website. During outbreaks, the disease can spread quickly within hell care settings such as a clinic or a hospital. The other thing is, youre talking about something that has a 70 rate of killing the host at this point and that scares a lot of people. I dont know if you have a better chance of survival if you were here in the United States, if you are being treated. What it does is dehydrate you. Honestly, im not a doctor, so i cant say, but i think theres not a reason to panic. The key is to get it early, right . You have to kwaurn quarantine people off. And the reason it spreads so far in west africa and they dont have the facilities that we have. A lot of western Health Care Workers theres a lot of confusion about what causes this. Excellent book. Not directly about ebola called fill over and he talks about the growth of pandemics. Unfortunately i just finished the book a few months ago. But you have to address things early, block them off and things appear in unexpected ways. Even though they were ramping up, expecting that it would eventually touch on americas stores. We have an Infectious Disease specialist coming up at 7 30. In the meantime, the markets in china and hong kong are closed for a public holiday. Susan lee joins us with the latest. What does the theme look like at this point . Well, you mentioned the day. It has special meeting in china and this year, 20, marks the 65th anniversary of the founding of modern communist china. Here in hong kong, a whole different atmosphere this year. The 350e78 behind me are looking for the chiet to choose their own leadership. They did raise their flag this morning amid high intentions, more road closures. Tonight we are looking for a lot more people to come into this main protest. This should be the biggest night of the six days of protests that wove seen. 250,000 are expected right here in this main heart, the main artery close to the Government House and the Central Business district. It looks like the police have backed off so far, but tonight well be watching and monitoring the situation. There were supposed to be fireworks displays as there were each and every year in celebration of october the 1st, but that has been canceled because of the Ongoing Events behind me right here in the central part of hong kong. Susan, thank you very much. That backup of ongoing tensions n closed out the first kwarder solidly higher. Why have investors remained so resilient in the wake of global issues . Joining us right now is jim russell, from u. S. Bank wealth management. And gentlemen, welcome. Do you expect the trend to continue through this year . I do expect it to continue. I know the market has been resilient, but im not sure all consumers have. I think theres still a lot of skepticism out there. The skepticism is because theres a lot of disbeliefs in the u. S. Economic growth funds that weve been seeing. I think fridays jobs numbers will certainly paint a broader picture of whether these trends will continue. I think for most investors, we shouldnt panic simply because this has been a sixyear recovery at this point. Rallies dont tend to die of old age. I think for most investors, they need to stay equal weight equities. Jim, how about you . Becky, good morning. Were of the same mind. We think equities are probably the place to be and specifically u. S. Equities, at least at this particular time with so many global events going on. Some of the futures a little bit unknown. We think the earnings are strong, will be confirmed in the third and fourth quarter. Rates likely to remain pretty low. The negative, of course, are china, europe in terms of Income Growth next year. As james was just mentioned, it does seem like every time the markets drop, there is somebody who is willing to step in and buy that dip. Is that what has been keeping us from having a more marked pullback . We think so. The important in emerging 2015 estimates. So we dont think the markets are extended from a valuation standpoint. There does seem to be a persistent bid underneath the marketplace. Bonds are very extended, so we think equities are a good place to resign at the moment. You mentioned the jobs numbers coming up. If we get another weak member this time around, will that change your mind about where were headed and how the economy is doing . I think it will be harder to brush off another weak number. Were forecasting jobs gains of about 216,000. So we are expecting a bounceback. Consumer confidence up until last months reading was generally trading higher. So it becomes more anomalous. To me, the underlying strength that we saw and the geopolitics you saw around the world and the international markets. I think some of the pullback weve seen, i think the bid is because you have headline risks out at hong kong, for example, the market holds back a couple of percentage points. But then we get positive economic numbers and people dive back into the markets at that point. Jim, you sound like you agree with that. I thought i heard you yeah, we do. We think its extremely important that the jobs number gets revised up. Also the august number to be revised forward. We think the august economys twostep forward, one step back, not all the data is working for us right now. Housing is a little bit jumpy. Consumer confidence is mentioned. Frankly, we got a chicago pmi number that was a little weak. Caseshiller yesterday was also weak. Were looking at a bit of a soft patch here. Were very anxious for the friday number to be on the strong side. Jim, james, thank you both for joining us today. Thank you. Lets talk about the Corporate News for a moment here. Angies list reportedly exploring strategic options. The stock dropped 72 on the queer. Coming up next when we return, the companies that could be impacted by the news of the first confirmed case of ebola on u. S. Soil. And the secret service under fire. That bench jumper putting the agency under the microscope on capitol hill, but that probably wasnt the worst in recent months. Well tell you about it in just a moment. Boish and good morning. The secret service is under fire this morning. An armed contractor with a criminal record was allowed on an elevatorer with the president during the recent visit to the cdc last month. The man did not follow orders from the secret Service Agents when they asked him to stop using a cell phone camera to videotape the president in an elevator and he even took pictures. After agents questioned him, they looked him up in a database. Thats when they learned about his criminal background. He was fired on the spot. The private Security Firm that he worked for. The secret Service Agents discovered the man had been armed while he was on the elevator with the president. Craziness. And dont they have to go through metal detectors constantly . He was a security guard. So he was able to get through. But he also had a fairley extensive criminal record prooern being hired by the cdc. Dominic chu puts together a list of companies that could by impacted by this developing story. You know, this is first and foremost as a tragic story, a very is at sad story and a very important story for the Overall Health of our country. But more importantly, a lot of people are trying to figure out ways this will have an impact on the rest of the company, the rest of the world. There are Certain Companies out there poised to benefit or not benefit because of whats happening with this particular outbreak possibility or this particular instance. If you look, the stocks that are the experimental drugmakers, the tekmira pharmaceuticals. Its a 460 million company. Which start did they have . Tkm ebola. This is the one that the doctor that came back and was treated here was given. They were given an fda clearance to use their intrimtal drug treatment. That was the first two humans treated with this . Right. Biocryst pharmaceuticals is another organization. The u. S. Government has recently given them funding for research on ebola. They have about a hundred doses to make this, but they dont have enough to ramp it up if things go beyond where it is now. Ee bowl what has been around for decades. Its not been developed. Ebola hasnt been at the forefront for a very long time. It has been around for a very long time, but it hasnt been a real focus for a lot of researchers and developers. The first time its made its way to u. S. Shores. Right. In the mast, its been stamped out of the way. That hits the second point. There was another sector industry in the market that we saw the impact. That was in Airline Stocks. This is a maybe a secondary derivative play. The idea that someone can travel on an airline and or if countries end up shutting their doors at some point. This could have an impact. So those are the two places that saw the most impact after the bell yet because of these ebola headlines. Everybody else is going to say, hey, ba about other things . Were not at that stage yet. There isnt that feeling its going to go beyond this right now. This is important because people can be right or wrong when they invest in the markets. Maybe they punished Airline Stocks unfairly, or maybe those that developed the drugs are being given too much credit or maybe not for the drugs theyre trying to develop right now. There are places where you will see the impact of this beyond the most important ones. You get some criticism saying youre fear mongering this, youre overhyping that. Ebola is difficult to transmit. They dont know if it ultimately comes from bats. That seems to be where theyve narrowed illustrate down. Here is the reason why its getting so much attention at the time. The biggest outgreat was about 15 years ago in uganda. We have 3600 confirmed cases. They were in west africa until today. So this outbreak has been exponentially larger. Its still very small. I dont want to make he this a bigger story or smaller story, but the nigeria example is an example that should be used as a country thats more advanced than most of these others countries and they have effectively been able to control it if not stamp it out. We may have issues. I dont want to say we dont. Who is looking here and looking there . No one is doing that. I feel like theres a little bit of that. You can also underhype something. And tell people that and the reason that i was a little critical, the cdc director, is that the cdcs own website seems to have a higher level of concern than what we heard from the cdc itself. I just want their message to be consistent. I would agree with that. I dont know that were hearing everything. I dont think its a cause for running around with our hair on fire. I agree with you on that. But theres a lot we dont know about. And the idea that its here for the first time. The good news is, again, it could spur innovation, it could spur some of the scientific discoveries that i think weve been very lax. This is the United States. We have a lot of resources. The shame of it is, we havent done more to attack this disease in africa to this point. And weve let it get to this point. Dom, thank you very much. Youre very welcome. Coming up, much more on that lone, single u. S. Ebola case in dallas. We have a top Infectious Disease expert. Hes going to tell us the risk. Hes going separate fact from infection, tell us if andrew is ride, take it easy, or maybe a bigger concern. Who knows. He will answer the question. But first, pimcos damage control, executives at the fund giant, speaking to cnbc the First Time Since the sudden departure of bill gross, did they do enough to calm investors . More squawk box in just a moment. Your goals, our technology. Introducing synchrony financial, bringing new meaning to the word partnership. Banking. Loyalty. Analytics. Synchrony financial. Enagage with us. Watch this. Sam always gives you the good news in person, bad news in email. Good news fedex has flat rate shipping. Its called fedex one rate. And its affordable. Sounds gr

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