Streak that sauz the shanghai rise 16 yeah shanghai was down by 2 today. Lets see whats happening in the treasury market right now. Yields back down below 0. 6 . We havent seen that for awhile. And joe, still chuckling a little bit about football and why we care this time around not the ivies . No. But anything i see this morning it was eric chemi. I realize out on the cliffs they have that full size cardboard cutout of me so then i was thinking, you know, next week if i dont have like being here some day, i might just put it right here just have something on a loop. Less taxes, less government, more you know a welcome respite plus they got sound theyre going to pipe in sounds like the tesla, you know, the motors i saw that. Theyre going to pipe in fans cheering and i read this stuff and we go, okay i want a cutout this makes sense. Put an entire stadium full of cardboard cutouts. Yes and we all go, yeah, that makes sense. But people would do it. Because i was thinking the camera would go in on the crowd and youd go, there i am theres mom i was watching that thinking people are definitely going to want to do this. But this has been a slow sort of a slow bleed to what to expect the stadiums are going to be full of cardboard cutouts with piped in we would have never believed any of this stuff, would we now its just tells you how far weve come. Yeah. How far weve come or, you know, how much weve i guess lost. But we just accept anything now. Anyway, we digress, andrew we digress. Lets talk about some of these comments that democratic president ial joe biden made. Provocative had comments that the market is now going to be listening to when he was talking about his new economic plan, he said President Trump is too focused on the stock market during the coronavirus pandemic. Throughout this crisis, donald trump has been almost singularly focused on the stock market the dow and nasdaq not you. Not your families. If im fortunate enough to be elected president , ill be laser focused on working families. The middle class families i came from here in scranton. Not the wealthy investor class they dont need me were going to talk more about those comments and bidens tax proposal and what it may mean for your money. Well do all of that at 7 30 a. M. This morning. Joe . Thanks, andrew. People do have, you know, mutual funds and its not just all wealthy people that even thats not even talking about that sometimes a vibrant stock market indicates a companys usually maybe not now but it usually indicates that companies are doing okay which means they might be hiring and be able to raise wages and stuff like that. I mean, you only need to go back to economic downturns that are led by a weak stock market it may not be totally correlated and nobody is saying it is, but certainly during the depression or during the financial crisis a weak, horrific, plunging stock market feeds back onto the or is caused by a terrible economy where no ones doing well. I understand his populist rhetoric, but it doesnt really it doesnt really hold water. And andrew, i just i read this today and i actually didnt think about you. I dont think about you in this. I was thinking of seth hanlon coming up. Dont waste time arguing with people whose opinions are opposite of your own i dont know what doyle for a living so accept the way you look at the world is different and find ways to make it work and i read that i love it but i did not think about you. You do think of me . No. I thought of seth whos coming on then i read yours. Youre pisces, right i am. Youre on that middle thing im on the depending on what newspaper youre reading on the cusp well, what do you think this says shut out the noise and listen to what your inner voice has to tell you. Becky, ill get to yours later ill probably get yelled at for reading horoscopes on the air. Anyway one thing, i was surprised by this, joe. I dont know if this is accurate, i think it is though did you know actually only 44 of americans have any contact at all with the stock market . Even in 401 k s and mutual funds . Even 401 k s and the like i dont know if that statistic is totally accurate. But i think its directionally correct. And it was a lot lower frankly than i had anticipated i think its probably come down because theres not as many pensions people have had to use money and savings to live. I mean, i have heard what percentage of people live paycheck to paycheck, run out of money or would run out of money if they didnt get a paycheck. Or what percentage of people dont have 500 for an emergency. Its an unbelievable number. Yeah. The number of jobs that are not connected, you know, that are not considered fulltime employees. If you look at the Digital Economy and how that has changed so many things too right all right. Cant get a 401 k if youre not an employee. That was my first point my second point, andrew, i think holds true that you dont want to have a low stock market nobody wants a low stock market. This market obviously feels a little bit out of sync with the unemployment picture, but yes. It is a barometer of the health of, you know, not everything in the economy and not wages and not, you know, not income inequality. It may not necessarily be a harbinger of that. But if you had to pick, you want a plunging stock market or one that is rising, you take the rising one cheers to that. United and its pilots union have reached tentative agreements for early retirement and voluntary furloughs. The other three biggest u. S. Carriers have already reached deals with the pilots. Earlier this week, united warned about 40 of its workforce could be furloughed when federal aid restrictions expire on october 1st. You know, the timing of this does make me question. Because it was surprising to hear united talking about that earlier this week. Warning that they were going to lay off up to 40 of their workforce all the way in october 1st. We knew things were bad, but we also heard some airlines were negotiating with the government to try to come up with additional aid that might be brought in thats why i thought it was kind of odd at the time that united would be talking about layoffs coming they must not have needed more money from the government. But they may have been something to give them additional leverage in talks with the pilots union too. Go ahead, joe. I made some reservations for a flight did you really . Yeah. Its in december. What are the odds . Yeah. Yeah i did say can i pick a seat and she said, you can pick one wherever you want. Literally. The whole planes open. Kind of so i dont know. I dont know what any i mean and the stock price of united indicates things arent so flush right now which is once again sort of a proxy for how busy okay. Real quick though and its off topic, was it a good price you know i like i get pleasure out of being cheap. Was it a good ticket price it was a very good price. And weve had this argument for years. You know, i dont argue anymore because it just says not to. But airfare 30 years ago is the same as it is now, andrew. And you never give the carriers any credit for that. You dont. Remember if you wanted to go to florida like in the 70s and 80s, it was like 500. So this was theyve treated us very well, the Airline Industry okay so just nod your head yes. Pandemic pricing. Theyre wonderful people, all those Airline People anyway how come all the fares are exactly the same you should read your horoscopes every day i like this. Its also friday. Its also friday it is friday. You know what that means . That im in love youre welcoming it i like it. Embracing it all, joe. Yeah well play that for you in a bit. Meantime, hong kong is going to be suspending all schools starting on monday because of a spike in coronavirus cases there. Most of the city schools have been closed since february with the move to online learning. Hong kong reported 42 new cases yesterday and the second consecutive day of rising local infections and guys, thats just a little telling. You know, they have 42 new infections and they shut down the schools. Its going to be difficult as we head towards september here. Yeah, it is 28 vaccine developments or something. 28 people working on 28 different entities working on it fingers crossed. This is the big ten. So now were getting serious here big ten athletic conference has canceled nonconference athletic competitions that doesnt save you, rutgers, from playing michigan or ohio state, becky yet i know so its not a panacea for your players but i dont know what were going to do. And this is temporary here and this could they could cancel everything. The decision will help the conference limit travel and ensure universal testing of teams under its control. The decision will strike 42 nonconference Football Games from the schedule including matchups including michigan and ohio state the conference allows for the possibility of not playing at all this fall. Notre dame, thats what i thought. Notre dame michigan. Much more on this topic later this hour. A quick check on the cheering section at oh they got it out. There it is. You look like you should be standing on the sidelines in that getup that is not a sitting in the crowds what if we bring it here . It wont fit in the chair, will it if we just stick it there and can you do the audio wont argue with anybody. I say the same crap all over oh, there it is. All right. Great. Thats beautiful wheres the audio from the you driving the car. No, no, no. No, no, no hey. Didnt we have those big heads we all had those big heads what are those called . We do called fat heads what are you doing . Fat heads we had those. We could use those where are those . We still do i think we do have them somewhere. Maybe well drag those out theyre probably back at Englewood Cliffs somewhere its friday. Anyway friday with terrible serious news to talk about, unfortunately coming up. Yeah. When we come back, covid cases surging in hot spot states several governors mandating masks to help slow the spread. Well check in with dr. Scott gottlieb next. And check out shares of Bed Bath Beyond they said they will close over 200 stores in the next two years. That stock fell nearly 25 in yesterdays session. Well be right back. Usaa is made for whats next no matter what challenges life throws at you, were always here to help with Fast Response and Great Service and it doesnt stop there were also here to help look ahead thats why were helping members catch up by spreading any missed usaa insurance payments over the next twelve months so you can keep more cash in your pockets for when it matters most and thats just one of the many ways were here to help the military Community Find out more at usaa. Com to help the military community 49i found you good job. Now im gonna stay here and you go hide. Watch your favorites from anywhere in the house with the Xfinity Stream app. Free with your xfinity service. Now any room can be a tv room. Stream live tv, on demand shows and movies even your dvr recordings. Download the Xfinity Stream app today to stream the entertainment you love. Xfinity. The future of awesome. Welcome back, everybody. Coronavirus cases continue to rise in california, texas, and florida. According to the latest figures, the sevenday averages of total cases is up about 26 in california 19 in texas, and about 30 in florida. Yesterday florida reported a Record Number of covid19 deaths and hospitalizations joining us right now to talk more about all of this is dr. Scott gottlieb hes a cnbc contributor and serves on the boards of illumina and pfizer dr. Gottlieb, good morning good to see you. Good morning. Lets talk a little bit about the cases and what were seeing and some of the extreme measures we were just talking about in hong kong they are closing schools now because they had a new surge in cases that surge was 42 cases. And it kind of puts things in perspective when you think about the number of cases that were seeing in some areas here and how were going to really be up against things as we try to get back to school in the fall i know this is a topic we talk about almost every day, but its something i think parents everywhere are thinking about constantly trying to figure out how theyre going to handle this if the schools arent open in the fall weve been watching some cases of some outbreaks at least at a summer camp in missouri. I just wonder if there are lessons you can take out of that that may be helpful as we get back to school well, we dont have a National Strategy when it comes to coronavirus we have state strategies and theres really two dichotomies in this country. Michigan massachusetts, maryland that really sought to crush the virus like the asian nations like western europe. And in their states mostly in the south that have adopted something akin to the swedish model. Theyre allowing spread. They want to manage it to a point where their Health Care System doesnt become overrun. I dont think that florida or texas or arizona for that matter are seeking to crush the virus at this point. I think theyre just trying to keep the numbers down so their Health Care Systems dont become overwhelmed. And like sweden, i think for the most part theyll be willing to open the schools against that backdrop they seem to be willing to do that i think on a local level, it might be hard for certain districts to open just because the Health Care Systems might be overrun in certain parts of those states in three or four weeks when they have to make those decisions. But for the most part if theyre willing to open against the backdrop of a reasonable amount of spread but their Health Care Systems have not gone into this super surge capacity, i think theyre going to do it you know, and well have to see what happens in countries where they opened against the backdrop of a reasonable degree of spread you did see outbreaks in schools. Remember we talk about germany and norway being successes in terms of being able to reopen schools. But they reopened against the backdrop of having crushed their virus. Sweden kept the schools open through most of their virus. But they implemented stringent measures in the schools. Israel tried to reopen the schools and had big outbreaks and had to reclose some of them. So i think that in the south in these states like texas and florida, theyre going to be willing to open against the backdrop of spread theyre not going to be fully eliminate these epidemics by august you know, we are the United States of america and even though these are different tactics these states are taking, theres no closure of the borders. There is free travel between them you may have some soft governors here in the northeast saying if you come in from one of these other states, you have to selfquarantine for 14 days. Theres no way to enforce that i know people just around here who are not following that enforcement. Whats to say that this is not going to surge again in the northeast . Well, i mean, thats the problem. We have a lot of infection in this country so its going to be hard to keep it out of the northeast. I think our borders are fairly pore ous to your point. Paying a pretty big sacrifice to crush the virus to not have it reimported back into the states and see epidemics heading into the fall if we had a more uniformed strategy, that would be better to have one mind around it that we wanted to fully eliminate spread and want to crush the virus. At this point, its going to be hard with so much infection around the country. Its going to be hard to get to a point where you could, you know, youre not going to eliminate the infection but get it down to levels that are much lower. The prevalence of infection in the country right now must be pretty high. It must be on the order of 150, 1 in 175 people have the infection right now. Before when we were burning around 20,000 infections a day, the prevalence was 1 in 200 people now it must be higher than that. Scott, thats a strong argument for a National Policy were you in favor of that . Are you in favor of that now well, we havent had it i dont think were going to get it you know, this has really been helpful to have a uniform approach on how were dealing with this on a state by state basis. We didnt to that. This has been largely up to the states thats why weve seen a patch work of solutions and outcomes youre not going to be able to unring that bell now its up to the states to try to implement measures to try to hold onto their gains. I wouldnt be surprised to see some get more aggressive on enforcing those. Starting to trace people off of planes an things like that monitor people off of planes i wouldnt be surprised to see that start to happen as, you know, these states in the northeast continue to have relatively quiet periods right now and you watch things get worse in the south remember, with texas and florida right now, their Health Care Systems have a lot of residual capacity in arizona its higher its almost 25 . Thats going to continue to go up its going to get worse before it gets better i think as you see those states get pressed, i think theres going to be more concern in states like new york, new jersey, connecticut, massachusetts that, you know, they dont want to head into a fall carrying more infection thats getting reimported. Not sure if you heard us talking earlier about the big ten saying theyre only going to be playing games in the conference for the football season coming up in the fall they did leave open the possibility of canceling that too. Do you expect to see i mean, it i feel like were all kind of sliding towards this resignation that, okay, things are not going to look like normal were not going to get to go back to school on a normal basis. Im sliding towards resignation that my kids probably arent going to play sports is that a defeatist attitude or realistic as many. I think the schools are going to prioritize keeping the classrooms open. So the extracurricular activities, if theyre going to sacrifice something theyre probably going to look to do that and focus resources on keeping classes open and to the extent they can keep outbreaks from happening in the school try to sand away the things that are sort of extracurricular that could have outbreaks regimes for testing students and athletes as well many are talking about testing the entire student population every two or three days. Its going to be harder for Public Schools to do that not because the technology doesnt exist and the capacity its there its resources its expensive so local districts are going to have a hard time doing that. You might see the specter of have and have nots w