At one point, they were convenience not absolute indicated up about 300 points on necessity as in the activity that positive news out of moderna. The s p is indicated up about 13 couldnt be performed, so even if youre working out of your points and the nasdaq would open home in new jersey, new jersey says wait a minute were not by about two points after a giving you a credit because you performed the work here. Strong dayyesterday. We get to tax you too. So both sets of taxes. All of those states are facing severe crunches at this point so i would imagine all of those states will be pretty aggressive about it. When you say you could do the work some where else, new york city was closed down, offices the nasdaq was up by 1 . Have been closed down. Employers didnt want people back in the building lets look at the treasury seems like a little extraordinary during these times. Do you think eventually what happens the states gettogether you will see the 10year now and work something out where somebody takes part it and sitting at 0. 62 somebody else takes the other part they havent yet. Thank you nice to see you back only six states have the hope you had a great time off. Convenience rule and you would think yes this is in the meantime, the dow clearly not convenient youre not working from home component down with united because you felt like it Health Adjusted earnings 7. 12 the way they have historically define convenience is the work could not be performed in this state. So if you work for your company beating estimates. The company attributing the but the midwestern sales person, you cant do that in new york youre selling in kansas temporary refer to the risk on the other hand if youre working out of connecticut or based businesses new jersey because you dont like the commute or easier for you or the company to be there, coming in below consensus. Thats convenience and theoretically in a crisis actually has been relatively you could have chosen to live in flat new york maybe year over year it has if you were working from home gained on todays squawk planner, a lot you could be in new york going on Goldman Sachs reporting in the it seems inequitable 7 00 hour. As you said right now with at 8 30, we get june import and revenues as they are none of these six states have indicated they are providing that flexibility. Releasing the beige book report jared, very practical question, i heard from lots of and it is tax day. People on wall street who are filing deadline was extended dealing with this very issue trying to figure out whether they should pay new york city because of the pandemic. Tax, whether they should pay be sure you get those in unless taxes either in the suburbs or in other states. You do them electronically one of the calculations that looking at United Health seems to be going into this care that is such a interesting debate is the cost of being audited. So when you add the full cost of reason why they see higher numbers on this. How youre going make these decisions and im not suggesting that people should be trying to scam the system, if you will, but there is the sort of risk we hadnt really thought about analysis to do i pay the city, that this is a little different do i pay the suburb, how do i do situation. They expect all of that health care will eventually get picked it can you walk through how you up and all of that stuff will think you would do it . Well eventually get there this is not asking for a i dont know why that had not friend, im asking for me. Occurred to me before. I happily pay new york city nobody was going to the doctor taxes as somebody who loves new for a long time. York city even though im not offices were shut and dnt there. Im in connecticut as well see anybody except for emergency well do both. Yeah. Im going to encourage everyone to pay in both jurisdictions and maybe this gets sorted out legally. Talk to your tax adviser i would encourage you not to try to test this however, i would say that new york is an anomaly where this often comes up purposes. You are right in addition to this rule new cars and things are not on the york is one of a handful states road there is not a catch up for of doing business in the state that we are all healthy and young. Literally for one day, even checking email in a hotel room i can think of a lot of things where you have to file in the you wouldnt want to take a state. You live and work in new jersey but go to new york for a day for threemonth break from caring a conference, theoretically you for. A lot of conditions. Have to file in new york on monday, my daughter had to new york doesnt want you to if youre a typical employee have surgery because of a tube its not time to process a being stuck. Return that has no liability one that hasnt come out interest not absolutely urgent care but you get this all the time. Thats a bad design in tax it was bleeding out of the ear codes. You dont want something where 90 of people are not complying. It had to get taken care of. New york has created that just so they can go after the high mammograms and a million income people. The person who makes a ton of things one of the arguments you hear a income in one day thats not good tax policy. A lot of states have a 30 day threshold or something more lot there are other health reasonable new york has always been the concerns being neglected most aggressive state in the country on taxing income from people who work or live in new york right jared, i get the feeling well see this tested again and again. Tim cook is like, remember when well have you back. Thank you for your time. That ireland was trying to get robert, great to see you coming up, blackrocks rick 14 or 15 billion from you in rieder gives his take on this taxes. They are not going to take it. Weeks trading what is 14 billion to apple well look at the fixed income side of things European Court is backing the later chief medical officer of company in the eu landmark case. Moderna joins us breaking down results from a vaccine study at issue, a 2016 ruling that that weve been talking about ireland had granted illegal tax all morning. That stock getting a major pop benefits to apple and were looking to recover 15 billion youre watching squawk box on cnbc some Companies Still have hr stuck between employees and their data. In unpaid taxes. I dont know what apple has in cash right now do you know andrew or becky . He was like, maybe well put in a new food court 15 billion. Something over 200 billion so 15 is nice id be happy but not what it would mean to a lot of entering data. Companies. I think theyll take it. Changing data. It makes a difference. More and more sensitive, personal data. Apple is so amazing. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. That stock indicated up maybe on this news or other news. Its ridiculous. To a developing story so ridiculous. Between the United States and with paycom, employees enter and manage their own data in a single, china. President trump announcing yesterday, he has signed easy to use software. Legislation to impose sanctions visit paycom. Com, and schedule your demo today. On china in response to interference with hong kongs autonomy he signed an executive order ending the treatment hong kong has long enjoyed today, i signed an executive order ending u. S. Preferential treatment of hong kong this morning, china is responding eunice yoon is joining us now. I guess we anticipated some sort of response. I guess this came as a bit of a surprise thats right. Like you said, we were expecting a response china was vowing to retaliate. Saying they would sanction individuals in response to this act under which the u. S. Will be sanctioning potentially chinese officials as well as banks there werent any specifics but on a similar move, they had demanded fierce critics. American companies in hong kong are feeling a squeeze by all of the politics saying three quarters are worried. 42 are pessimistic of the prospects. The u. S. Stripg the city of special status doesnt help. 64 dont plan to leave. It really depends on your industry the New York Times today announced it is relocating the digital journalists out of hong futures pointing to a higher kong to seoul. Open as investors cheer upbeat this is about a third of its hong kong staff. Vaccine news from moderna. The paper said it was being, well talk to a Top Executive from that Company Straight quote, prudent to commit con ahead. Another day another round of quarrel results from the nations biggest banks he we already heard from jpmorgan, citi and wells fargo up next, Goldman Sachs continue en contingency plans. Breaking news on the housing industry and the ban on huawei from we have data on the mortgage taking part on the 5g network. Market crossing the tape. Well get it to as the second hour of squawk box begins President Trump seemed pleased right now. With that decision the Foreign Ministry saying this just proves this is about political man up u lags and not National Security good morning welcome back to that is about an argument eve squawk box right here on cnbc. Im Andrew Ross Sorkin along with becky quick and joe kernen. Heard quite a bit. Take a look at u. S. Equity what weve heard as they try to futures. They are higher. Get the cfos out of the case youre looking at the dow up 334 points s p 500 up 30 points if you werent on, i was going to bring it up with my friend andrew who talked about nasdaq about 53 points huawei being a political were in Percentage Points increases up for the morning football for a long time also have that United Health a year ago when the uk said we news coming out on the dow are not going along with the United States, it seemed like joe . Todays top story, moderna they were intimating it is not a security problem says its potential Covid Vaccine so it took this hong kong produced a robust, in their situation to get them to decide words, immune robust in all 45 now we are mad at china and now it looks punitive. Patients in its early stage human trial. Remember the news preliminarily we heard was about eight patients neutralizing antibodies, he et cetera also some additional news was that there was overall immunity, now there on board cell based immune egypt not just i dont know there are genuine security antibodies also that they are going to begin a much larger final stage issues given what they dont trial on july 27th know on the back end. So near term as many as 30,000 patients to see if it works and thats a new all time high for the question is is it a clear moderna. And, you know, i dont know how and present danger today being much money they expect to make on the vaccine, but somehow they used in this way and being a got to get up to about 30 plus billion dollar market cap. Push pull on this. The United States clearly told the uk they want the uk so interesting just the bigger news maybe that if you could actually make support on this ban. It work on this platform, that they said, what you would say, it would be something you could talk to the hand rule out now there on board suddenly. The stock trading, obviously, on the coronavirus potential for a vaccine, but i think the broader becky. Issue is this is a new way of i see your hand. Coming at doing vaccines i want to weigh in. Thats exciting too. Never been done and they are i think this is a problem a lot not the only ones working on the of Chinese Companies face. Whether or not you are directly technique. Be nice not to use it in an linked or have investors from the government or not. If you are completely private, you face similar reaction from atte attenuated whole virus the u. S. There has been so much distrust you know, still a lot of in the western world and chinese questions on would it be a party that this looks seasonal vaccine a lot we still dont know. Obviously, its taken. Inevitable at the end of the day. Positive drives you crazy i find it difficult in my same people that were lucky reporting here to see and have a enough to short tesla at 100 are chinese executive who has family all up in arms about moderna here in china to be able to say, too. I dont know if they look at the data no to the communist party to, i just think they think grifter. They need to see an insider say president xi jinping to look selling. Without lookingat any of the like i say, its the same savvy at the data that a lot of Chinese Companies are phasing. Market perspective that got them into tesla short at 100. Eunice, thank you right the one thing ill say about the it is good to see you. Data is this is on 45 patients andrew. And they are 18 to 55 years old okay thanks, guys and there have been questions whether you can come up with a more on squawk box ahead vaccine that works for older well talk about the moderna people and thats the group, the news sending stocks higher hopes for a vaccine. Cohort thats most at risk for well talk about it next the coronavirus. Well take a look at other big theres some relevant questions to ask about whether this will work in older people too movers airlines and other big stocks first it was on eight all headed sharply higher. We are back after this patients if its 45 out of 45 this is decision tech. Right 18 to 55 its an extension of what already moved the stock. Remember the stock got up to similar levels and as you can see actually pulled back came back down with a lot of the weird nay sayers dont want a vaccine or moderna to have the vaccine i cant really i dont understand a lot of im not going to base my life on twitter mobs either, which someone find a stock based on your interests or whats trending. Mentioned. Well talk to companys chief get realtime insights in your customized view of the market. Medical officer in just a few minute its smarter Trading Technology elsewhere United Health posting for smarter trading decisions. Quarterly results. Earnings handedly Beat Estimates fidelity. As its medical costs decline our Retirement Plan with voya gives us confidence. After Many Americans delayed. We can spend a bit now, surgeries and procedures amid knowing were prepared for the future. Surprise the coronavirus pandemic we renovated the guest room, so you can live with us. Im good at my condo. Well planned, the company is namaintaining thi well invested, well protected. Voya. Be confident to and through retirement. Full year out look it would be up more if it werent for the three points off there. Apple winning a court ruling overseas early this morning. Europes Second Highest Court rejected an eu order to make the tech giant pay nearly 15 billion in irish backed taxes. It can still be appealed to the highest eu court this is a commentary about how the whole system works there eu is ireland. Are they allowed to have their save without even leaving your house. Own tax laws its a bizarre way to try to run just keep your phone and switch to xfinity mobile. A country. You can get it by ordering a free sim card online. Or a union in this case i guess they can go once you activate, you only have to pay for the up one more court to see what data you need, starting at just 15 a month. Happens. But siding with apple in this there are no term contracts, no activation fees, case i just wanted to mention i do have some comment from apple on and no credit check on the first two lines. Get a 50 prepaid card when you switch. This too they thank the General Court for 5g is now included with all new data options. The consideration of the facts they go on to say its not about switch and save hundreds. Xfinity mobile. How much they pay in taxes but where they are required to pay it they are proud to be the largest taxpayer in the world. Tax payment plan provides society. They pay tens of billions more in other taxes just pointing out that they are not fighting paying taxes but they want to know where to pay it and they do pay a large amount in taxes too. Largest in the world did they say . Thats what it says yeah they say were proud to be the largest taxpayer in the world as we know the Important Role tax payments play in society fitting day, july 15th, which is normally april 15th welcome back promising news now im still not going to make it you guys is going to make it oh, yeah, im done. The moderna test reducing done, done, done in fact, theres also deadlines i think for estimated taxes if youre paying for the current year, because they put that deadline off normally that would have been production of the virus. Sent the stock higher and the app 15th but thats july 15. Stock of many of the companies now lets get to the latest that have been hit so hard by headlines on the coronavirus the pandemic higher. Joining us now is dr. Scott and. Gottlieb, former fda natio nations economy commissioner, cnbc contributor, Steve Liesman is here and joins us with his road back barometer. Serves on the board of illumina steve, how are we doing . And pfizer you saw that news. Reporter taking a step back, walk us through the pros and becky. What we see is that theres been an impact of this resurgence of the virus on employment and on cons of what you read. Spending around the country. It is encouraging lets get right to the road back barometer. What were looking at is the all of the incremental news. Home base data they Service Small businesses and scheduling and other things moderna, pfizer, im on the for about a million employees board of pfizer. And we and others on wall street the novavax looks very good as have been following this data. What we did here is sort of a well based on early data special run of the data. We looked at states other than the thing we could take away florida, texas and arizona from this experience is we are took them out. Going to develop a vaccine what we see is a 23 decline against coronavirus it looks relative to the january baseline in employment. Like nothing is a sure bet at this but then you look at florida, texas and arizona thats a 30 point but everything is suggesting we should be able to decline. As ill show you in just a develop a vaccine. Second those states were leading now lagging. Whether we have it in 2020 is