Transcripts For CNBC Squawk Box 20240713 : vimarsana.com

CNBC Squawk Box July 13, 2024

Weve seen for the dow in a row, the first time thats happened since february this is all happening despite crude oil prices the treasury shows you the tenyear is yielding 0. 627 . There are crude oil prices, generally when weve seen pressure on crude oil, thats put pressure on equities as well thats not the case this morning. Wti is indicated down by over 15 . Thats a decline of 2. 66 to 14. 28 a barrel. Brent crude down by just 3. 3 . Its now trading at 20. 73 andrew meantime, an update on the pandemic and the numbers we bring you every morning about where we stand heres where we do stand global cases now are at 2. 9 million. In perspective, cases in the United States are at 965,000, closing in on 1 million. 288,000 of those cases are from new york state with another 109,000 of them in the neighboring new jersey yesterday new York Governor Andrew Cuomo outlined the states plans to reopen the economy in phases beginning on may 15th now, the first phase involves construction and manufacturing the second phase includes businesses opening with social distancing practices and with personal protective equipment available. Daily hospitalizations in the state have seen a choppy decline since the first week in april. One of the things the governor has talked about is waiting until those numbers become less choppy as becky mentioned, well get an update on where things stand in new jersey and from the plan there from the governor, phil murphy thats going to happen in the 8 00 hour, an interview and conversation you do not want to miss joe . Thanks, andrew. White house economic adviser kevin hasset will be on the show but he warned unemployment levels could hit not seen since the Great Depression speaking to reporters on the white house lawn, he said the Unemployment Rate could hit 16 . Warned the next couple of months will be terrible for Economic Data thats at 8 00 a. M. Eastern is when we will speak to Kevin Hassett, whos back. He was gone and now back an economic adviser at the white house. On this weeks agenda we have the busiest week for corporate results. More importantly, guidance on whats going to be coming next 142 of the s p 500 companies will open up their books this week well be hearing from 12 dow components, including caterpillar, 3m, microsoft, apple and boeing again, joe, its really not what were hearing about the Current Quarter but what they see, what theyre anticipating and happening in this month of april as well. Life and corporate maneuvering goes on. Speaking of boeing, becky, i love those embeaer jets, i fly them all the time on the short flights we see that was a key part of boeings strategy well see. In addition to the First Quarter results, boeing will also hold its annual meeting and face the application deadline for a multibillion dollar aid package from the federal government. What im talking about today, the company is being accused by Brazils Embraer of terminating a deal boeing citing inability to agree on final terms thats part of boeings strategy previously embraer is accusing boeing of acting in bad faith in the negotiations obviously, boeing needs to conserve cash for collapse and demand in planes thats the real reason the deal was killed andrew and becky, youve been on these embraer jets one seat on the left, two seats on the right easy on, easy off. I never feel like im on that small of a jet. I hate them. You do . I like them. I hate them you know youre on a jet. You like you like about 15 seats across. Takeoffs and landings, if youre in the back of the plane, its an issue if you get motion sickness. You know, andrew, if youre not in the front of the plane, it doesnt matter on those because there is no front of the plane. You dont have that stigma, you know what i mean no, it does matter. I dont throw up in the front of the plane. All the seats are the same, but i dont throw up in the front of the plane. When im in the back of the plane did you throw up to walking to sit down today . It doesnt take much for you, does it . No, it doesnt be take much. Well, every time youre on a helicopter bigger planes are better. You get car sick. No, one time i didnt throw up in a helicopter twice. I didnt throw up when i got shot of an aircraft carrier. I did fine on that. Really . See, i would have why, because you i was too scared. You had fainted so you were unable to. Right, probably anyway, i like them loading one of those widebody jets is like, are we there yet no, youre almost on the plane, though go ahead, andrew thanks, joe i will say, i dont know if becky has tried this, i kind of think you might not do well with lose chris mode on tesla, which is the segment im going probably not. Becky, have you been on ludicrous mode in a teslay et . I havent i havent. Have you done it i have. And i almost threw up so im thinking its its fast yeah. Anyway, we do have some tesla news actually, tesla mixed with covid news, of sorts a little bit about reopening and getting back to business and some of the trials and tribulations and conundrums it creates, if you will tesla management now asking dozens of employees to return to work theyre asking them to do that on wednesday thats in order to resume production at the companys fremont, california, car plant thats according to an intern correspondence shared with cnbc. They are asking for minimum operations at that plant through may 3rd. The county Sheriffs Office said Health Orders have not been relaxed. This is where things are going to get complicated and the orders will be reevaluated by may 3rd. There will be some places where places ask workers to come back to work where everything may not be exactly where people want them to be you can already seesome of the friction thats beginning. When we return, a lot more on squawk box this morning. Hold on, hold on, hold on. Yes, joe. Becky was raising her hand. I know you have a monitor, you can see that im trying it i didnt see her. You have to watch the monitor. Now i do. Usually, ill tell you, i try as much as possible because oh, i know you spy on us. I know you spy she doesnt realize thats why you got that thing down there. No, ive got it now, too. I like it. Joe, i dont understand this is the way youre supposed to run a professional tv show. Thats why you do it. Do what what were you going to say, becky . I was just going to say, i think this gets back to the question of business liability you know, all of these questions that have kind of circulated its been brought up to the white house. They said theyre considering this if you start bringing employees back before those bans are lifted, how is the company not liable for anybody who gets sick under that environment this is where its going to get interesting as companies try to come back, states try to open up and businesses try to figure out what that means for them. Ill tell you something terrible i talked to a ceo this weekend and we had this exact conversation about what happens if the employee gets sick in their place. This was actually a very responsible ceo who was not trying to bring people back. But he said he had had lots of conversations with ceos who said, look, if people get sick, if lots of people get sick, nobodys going to figure out where they got sick from and that creates its own other conundrum. I think there are going to be executives, i hate to say this, out there willing to take the risk because the proof or the ability to actually bring that suit, unless you can prove that that entire factory was somehow completely negligent, its going to be hard because you could say you went to the supermarket and, you know, went past somebody disappointed if one person the workplace gets it and 200 people disappointed or not, more liable everybody is trying to work through this here. Obviously, people are trying to get people back to work. You want to make sure if something happens, that guy is definitely in trouble if someone gets sick. If you cant trace it exactly to the irresponsible ceo, then i mean, theyre all trying to work you can get it anywhere. You can get it i dont know hey, will let me just we have to go. Let me just ask one more thing here now we have to go because i i wanted to i want to ask you because this is unusual for the people that follow me on twitter theyre telling me i need to watch a Michael Moore movie. Youre talking about tesla have you heard of this Michael Moore movie and have you seen it do you have plans to see it . And why would my twitter people want me to watch this movie . I dont know what youre referring to which its about all the Renewable Energy isnt this is Michael Moore. But its dirty or it cannot do what its intended to do in terms of cleaning up thins. Thats what the movie is about its supposedly very good. I dont know this is from Michael Moore, though, if you can believe it. I dont know the film. Now youll probably get some stuff about it you were talking to another ceo. Do you do anything but talk to important people on weekends, and scientists and ceos and Small Business owners and actually patients and Everything Else its amazing to me its called reporting its my job. And you made you said, this was a responsible ceo unlike all those other well, no. I was trying what i was trying to juxtapose to say this ceo was not saying it himself. He was not saying, look, im just going to im going to roll the dice, let everybody come back, if they get sick, ill blame it on somebody else hes saying he was talking to another ceo who was saying that exact thing. I think sharing that with the public is important. The reason its important is because there are ceos who are not going to be responsible about this and there are ceos who are going to bully their employees to come back to work before they have ppe, before they have social distancing, before they have all of the procedures and testing in place. As long as the public understands that and knows that, thats the important part. Thats my job. Its only tell the viewers what its only 6 11 and youre yelling again. I dont know where you keep those soap boxes are they behind you in are they all labeled . Not all ceos are going to bully people most people, andrew, are trying to do the right thing. And reopening a business, reopening the economy isnt necessarily a bad thing. Theres people not like us and not like people on all of our cable competitors that have these great jobs at home and still getting paychecks but people arent getting paychecks joe, 100 i want people to get back to work. You o you dont sound like it. Get people back to work and get people back to work safely we want to get people back to work safely. Thats the important part of all of this. If that is not your main goal, i then its hard to understand what the sort of basic parameters are its safety first, then get people back to work. You could tell me, get back to work first, safety second. But thats a different issue. Its the way you look at things, half full or half empty. I dont think everyone is out there trying to railroad their employees getting into terrible, unsafe conditions just for the almighty i think everybody is trying to do you go go talk to people in georgia the number of people we had one on our air on friday you go ba talk to the number of Restaurant Owners and all sorts of people in georgia, in atlanta in particular, who feel they are being bullied to go back to work im just telling you, thats the reality of the situation im not saying it should be. I think everybody wants to get back to work figuring out how you do it is the important part we can talk for the next three hours how you do it because there are interesting proposals that have been developed i feel like dr. Birx. So, Everything Else this is all viewed with in a political spectrum not everybody thinks theres nothing political about this not everybody thinks i have friends down in georgia. Theres nothing political. Saying, isnt our governor great . Isnt our governor great colorado i talked to someone he was a friend. Not an important ceo. Colorado is run colorado has a democratic governor. However, the numbers in colorado were very different than the numbers in georgia whats that got to do with whats that got to do that hes a democrat you said it wasnt political. You said were looking at this through political lenses and i was saying no, im just saying not everyone in georgia thinks this is just a horrible there are people that actually want to do this, andrew maybe not tattoo parlors but there are no, no, no, there are a lot of people want to go back to work. Go ahead, andrew. We have a lot more, as you might imagine, on squawk box this morning were going to talk to dr. Scott gottlieb who can maybe add some sanity to this conversation about businesses reopening and how to do it safely, folks. Take a look at shares of starbucks, partnering with Venture Capital company Sequoia Capital in china looking to form commercial partnerships with the next Generation Retail food and Tech Companies Flexshares Etfs are built with advanced modeling. To fill portfolio gaps and target specific goals. Strengthening client confidence in you. Before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. And sometimes, you can find yourself heading in a new direction. But when youre with fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. A partner who makes sure every step is clear, and. L music fades in . Hey hi welcome back to squawk box. Salons, retailers and other businesses in several states beginning to reopen over the weekend. In georgia, tennessee, texas, South Carolina and alaska all began easing shutdown orders colorado, mississippi, minnesota and montana are set to begin reopening this week. Meantime in southern california, warmer weather combined with lockdown fatigue brought tens of thousands of people out to beaches despite stayathome orders thats likely to continue as a heat wave in the upper 80s is coming to much of the area this week want to bring in former fda commissioner dr. Scott gottlieb, also a cnbc contributor, sits on the boards of pfizer and alumina. He discusses in his oped why its so important to win the race for a vaccine for the u. S. Economy. Good morning to you. Doctor, its great to talk to you. I want to talk about that vaccine in just a moment i want to talk about reopening for a second because i did speak with a number of Business Leaders and also Small Business owners over the weekend who are in some of these states trying to make a go of it the real question they keep asking is, can they make a go of it its one thing to say youre going to reopen. Its another thing to make your business work in a reopened world. If youre in the restaurant business, a lot of Restaurant Owners are saying, the entire economic model doesnt work if we actually have to be social distanced. Meaning, if we have to go three more months like where half the restaurant is going to have to be empty and we have all these additional costs on top of it, you know, tell me im reopened but i might as well not be what do you tell those people . I think the question is, is the consumer going to come back . I think the way to bring consumers back into stores and restaurants and hair salons is to give them confidence there really isnt pervasive spread of this disease in the United States the reality is, there is still pervasive spread of coronavirus across the entire nation there are parts of the country, states that never really had a significant outbreak, they certainly meet the criteria to reopen aspects of the economy. I count about five states that meet the criteria the white house has set out in terms of sustained reductions in new cases. For most parts of the country, they have plateaued but they havent started to show sustained declines in cases. Were still showing 30,000 new cases a day and recording 2,000 deaths a day while weve plateaued, theres evidence we plateaued, and new york is starting to come down very slowly. Across the nation were in the throes of this epidemic. I think we have a couple of weeks to go before we see the sustained declines until we reach that point, consumers wont have confidence. You can reopen things but i dont think consumers come back in the numbers businesses are going to need. Doctor, perhaps the single most forwarded article around the Education World over the weekend was a piece by the head of Brown University on that universitys plans to reopen in the fall and how they plan to do it i just want to walk through it for you. I dont know if you know about it because a lot of educators are saying, if thats how we have to do it, i dont know how were going to hes talking about testing every single student, teacher, every Single Person who walks into the school on day one and then doing it regularly, all of the students Wearing Masks to classes, all big classes being done on zoom rather than in class, social distancing in the towns, restaurants, bars, all of that, would obviously be closed or in a social distanced way, taking over hotels in providence so you could use them as a quarantine infarminfirmary and g everybodys privacy away because everybody would have to be on an app and every time youre tested, you would go into a system so, it would be a closed ystem and a lot of educators are looking at that saying, thats a very interesting model but if thats the model, that may be hard to pull off around the country. We dont know whats going to happen in the fall were either going to have sustained spread of this virus and smoldering infection or were not. And we have to wait and see. Theres a real chance that come the fall, we have tools in place that we can mitigate small outbreaks and detect small outbreaks and were not facing a constant risk of the infection or theres a risk we never get ri

© 2025 Vimarsana