It was down by 100 points more than where it stands right now put it all in financial stocks when Elizabeth Warren was the nasdaq was off about 2. 5 Vice President i have been sceptical of the the shanghai composite rose more market as it is. Nonetheless, we have other news than 3 . Though to bring you this morning. We should probably get to it Central Banks held Interest Rates steady a transaction to talk about. Over the weekend regulators raised the limit on how much they can invest in Equity Assets in an effort to break longterm funds into the market and it i should say its according certainly worked at least for to the wall street journal today. Lets take a look at the it says the deal could be announced as soon as today treasury market back here in the United States. Right now i think the yield is the ebay unit similar to just around 0. 6 for the ten craigslist operates primarily and a lot of us dont know about year i dont know if you saw that story over the weekend it primarily in canada and parts of the suggestion that part of the reason that youre seeing such a cap on treasury yields and banks europe and i cant claim to be an expert on it. I heard of it. I dont think that ive ever took in about 1. 8 trillion in been on it myself. Additional assets. People depositing more money thats also according to the into those banks journal this morning thats happened just since march the all stock deal would valuable at 10. 38 per shares. 11th a lot of that excess money was then used to buy u. S. Treasuries at 7. 6 above fridays close and that inturn is not only capping the yields in treasuries and pushing stocks higher. Equities up. If youre looking for any sort of return you get forced into and then we should tell you over the equity markets as a result. The weekend, the wall street you wonder what the powder is journal reporting that disney on the sidelines slashed its ad spending on facebook pretty suck stan disney was facebooks biggest pretty substantial people made that point u. S. Advertiser in the first half of the year facing the boycott over the policing of hate speech on its platforms. Disney has not made it clear confounding obviously. Whether it is joining that boycott and if you recall a just having a conversation with number of the big media our supervising producer that we companies and this is maybe unusual guys, but a lot of big all know its just about how many days to Companies Including comcast, our the election Parent Company have not apparently cut back on it or its coming up on 100. Become part of this boycott. Coming up on 100 this interesting because of potentially i know the thursday right perspective that people have about the Mainstream Media or at this point it would be a hollywood and whatnot in terms of the issues but this is where clean sweep. Maybe economics gets in the way. A lot of these companies are streaming and theyre trying to i got some stuff find new customers during the i got some mutual funds. Im not ready to sit here if pandemic and because facebook is were going to raise taxes on corporations, more than i a big platform they havent usually sit here, but i mean, i walked away from it yet. Think id have to but well see what it really so youre a seller. I think id have to think about what i should do if means. Some lighter facebook news. This is a meme guys. And, you know are you thinking about that are you a seller if thats the Mark Zuckerberg went viral over case if biden gets elected and its a Democratic Senate, i the weekend. On vacation with a healthy might be i might take a little off the table amount of sunscreen on his face. What if Elizabeth Warren is vice i think thats zinc is what he president , andrew . Heres the question. Is doing and got picked up on the most powerful vice twitter and was the subject of president in history they say, memes comparing to the joker and Elizabeth Warren would be. And that couldnt be good for mimes and other things financial markets. Do you think i wear my swim shirts im always trying to stay out of the sun so i dont know. Only 100 days out when do you my view is good. Start to make the moves. Good for Mark Zuckerberg orlando says its a long track still. Lets talk to him about this he says its still a long track i get it. Which i guess means that we i burn pretty easily. Dont know whats going to happen between now and then but its whatever his name was. I mean, 100 days is not that far we have kidded about that in off. The past theres two questions, joe. And jim cramer said give him a if youre right. Test just to make sure im not saying the polls are just so were sure that hes right. And the markets would be right, youd think that the mostly human markets would have already moved in that direction which they looks nice there. Hadnt that either means they dont well tell you that much believe the polls or they dont so its an electric surfboard. Believe that if biden wins its bad for the markets and then historically i would say id just put some video out for try to say this in the most one of these things. Nonpartisan way possible but at least historically the markets have done better under democrats thats cool. And republicans. Its just true no matter how you look at it its a controller. It controls how fast or slow you its just the math. Thats like trying to look at it in a complete vaccum go i dont know thats how it works. Thats not assuming anything its pretty cool. About congress i wanted to try it for a long time. Do you know what i think, your core is important not only that a lot of times you which could be problematic had the previous four years that something happens to cause whatever reason to make it even on a paddle board. Its just like a paddle board. It looked so easy and i tried easier it sunglasses because i hit the board so hard on the way down and flew off and then as youre for years and years and coming in, as youre coming in years. You and others didnt want to if theres waves, do not stand get people like president obama on the other side of the paddle credit because at the same board. Theres the problem time i would look back at the you dont do it on the ocean bush years do it on the bay this is why its so complicated. Its hard in the ocean okay. Well, we can talk more about well see. If hes had an economics this in course at all you know that do it on the bay, the lake, probably a lot of regulation and then its easy. Much higher taxes probably isnt i dont know i think on shore a great formula for stronger with the little parasol drink economy. In the shortterm not, 100 might be easy. On this weeks squawk planner, another busy week for earnings not in the shortterm. The question is whether this entire covid experience has been with s p 500 Companies Set to a lesson in trying to create a open their books on a quarter. More resilient economy if you think theres going to be pandemics every five or seven years which is what some people speculated, theres going to be at t travelers and intel on more challenges ahead. Sure, maybe you want a more thursday and American Express resilient economy. And verizon on friday. Its hard to say how could that i am exhausted thinking about be better. All of those ive watched you. Its a relatively light week for i watched you evolve. Data the highlight will be thursdays ive watched you evolve with weekly jobless claims report and some of the youre recent here we go, the vaccine news, questions to people and i can tell deep down youre worried its important and it could be about raising corporate taxes. One way or another and were expecting more detailed results from phase one trials. You can see you dont want to youre going every day and youre like people are looking at you and pointing at you and hes over there but ive seen you slowly come around to where it might not be a great idea to they have already begun but we raise corporate taxes. Dont know much about the phase one results. What i said and ill say it we can show whether its safe again i think in the midst of a and whether it includes an immune response. Pandemic when youre trying to have an economic recovery, if results are being published in you want to raise taxes you can the publication and its going raise taxes but then you have to to come out sometime today spend a ton of money on some kind of stimulus on the other end. I think one of the great lessons we dont know when post financial crisis was that there was such a move not to how can you not know anything. Frankly lower taxes but to do all sorts of other things and had we not moved on taxes in a scientist thats published in the past on this. That way maybe things could have been easier. Make a big deal about it if it i wouldnt necessarily advocate that we need to keep taxes low was a failure or do they do that wed all like to have lower if its generally good news or taxes. Wouldnt you generally just put out the bad news. Youd have to do it either way if irelyd youd still have to put it out thats the way it works. If people would repeat the experiment or Something Like that it doesnt work. So i dont know when its going to come. Correct me if im wrong. Its over there in europe. So five hours. 5 or 6 i was wondering, in terms of how many i was listening to Worldwide Exchange earlier a great conversation with a couple of analysts theres about 200 candidates out there for one of the vaccines. Obviously only a few of them are going to be brought to market. These analysts are saying you have a lot of these stocks that are incredibly overvalued at this point the market played up every single value it would be great to get multiple ones of these that work because you have such a huge global population that needs to be vaccinated youd need to get it out and quickly but youre not going to get 200 of them we have a lot of hopes riding on this but not every company is going to be successful. I saw another story about a 64yearold that died like two days later its awful reading about it. Can i say one positive thing we have been watching the memorial, the great Jack Nicklaus tournament in Columbus Ohio john rahm number one in the world now. Jack nicklaus and his wife had covid. Oh, wow. Jack is 80. Jack is 80 his wife, i dont know if hes quite 80 but theyre similar anyones. She was asymptomatic and he had a sore throat and a cough for a week. God bless. Whats that god bless. Very lucky and Everything Else i dont know if we hear about those stories. I just read about it 64yearold guy. That doesnt happen with the flu normally no problem with covid and we want to have him around obviously for as long as we possibly can very tough were going to talk a lot more about coronavirus and where they stand there and on the vaccine front when we come back. An update on potential new covid had the spot states and later well talk to mark cuban about the stimulus set to expire at the end of the month and the nba restart. Squawk box will be right back. This selenite grey is so pretty isnt it . Wow. Jim could you pop the hood for us . There she is. Turbocharged, right . Yes it is. Jim, could you uh kick the tires . Oh yes. Can you change the color inside the car . Oh sure. How about blue . Thats more cyan but. Jump in the back seat, jim. Act like my kids. How much longer . Exactly how they sound. Its got massaging seats too, right . Oh yeahhhhh. Oh yeahhhhh. Visit the mercedesbenz summer event or shop online at participating dealers. Get 0 apr financing up to 36 months on select new and certified preowned models. Our Retirement Plan with voya gives us confidence. We can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Im good at my condo. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Find a stock basedtech. On your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Lookentertainmentour experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. An update on the pandemic 3. 7 million. The 12,000 cases and fifth straight day above 10,000. 18 of all tests come back positive in florida. Meantime, texas reporting 7,300 new cases and the seven day average there positive test is at about 16 the Ohio Governor warning over the weekend that his states covid19 cases are going in the wrong direction and hes not ruling it out as the total number of cases there push past 73,000 it could address state and local government and enhance Unemployment Benefits due to expire at the end of the month becky over to you. Andrew, thank you. In the latest oped in the wall street journal, the former commissioner dives under the disagreement the feud demonstrates the inadequacy of the efforts to prepare for a pandemic he joins us on the squawk newsline hes a cnbc contributor and serves on the boards of alumina and pfizer its good to talk to you about the new oped that you have. Thanks a lot. Lets dive into this because this is an issue that we discussed a couple of times last week why these two agencies are feuding. What theyre doing about it. How theyre collecting information and i think probably pretty importantly what this means overall in terms of the strategy we take in the months to come. If things get worse here in the United States, are we prepared this has been a long standing dispute or discomfort between the administration and cdc from what i can glean talking to people on the inside theres been frustration with the cdc with terms of the inability to get timely information and Accurate Information out of the agency. Some of that is legitimate probably some of it is a little stretched. And told them that they wouldnt be able to provide that information until late august or september and that is when a decision was made to more fully takeaway data aggregation from cdc. Cdc would still be involved in analyzing the data but they would no longer be the lead agency collecting the data i still think a preferable path would be trying to support the cdc. They would be the lead agency but we need to both collect and disseminate information. Were at a point where some hospitals are faxing in information to the agency. The agency needs to rebuild its data systems and to the agencies credit, they have asked for resources for many years to do that and so this has been something thats been recognized for a long time. The Washington Post had an article this weekend that said the white house is seeking to block billions of dollars for states to conduct testing and do Contact Tracing and then also additional money to go to the cdc and to be used internationally to try to fight this pandemic. The post said that this is creating problems even with republican senators at this point. What do you hear on this what do you think about this in terms of what should be done with the testing policy. Should that be a National Policy or should that be something where the states pick it up themselves. I talk to people on capitol hill and i think the funding is going to be there. Congress is going to provide that funding including republicans. I think the white house and others in the administration have had some frustrations with the cdc. And the agencies roll right now and it also reflects inability to come up with the plan and the funding bill would be a good place to try to come up with a different approach and they havent been able to do that and the setting of a crisis to try to rebuild aspects of an agency that have them long ignored. That would be the prefer rabble way to go. It reveals that there are a lot of gaps in our preparedness. This isnt the new problem this has been building over the years and the Intelligence Community has been recommending in public documents for many years that we treat the risk of pandemics as a National Security threat on the risk of weapons of mat mass destruction and cyberattacks so we dont have the ability to surge Testing Capacity and the scale that we need into the fall particularly the biological drugs and we dont have the data systems that we need to collect and track the ebbs and flows of the epidemic caitlyn rivers has proposed the idea of a National Travel service that would be in charge of collecting and disseminating information and analyzing it we dont have that kind of capability in the United States. What do we know so far . Theres so many. This is not it, is it . Or how does is it a more classic one or adenovirus . Which one is this . Theres been data released on it already that was encouraging i think with all, you know what i would call a little bit, most people expecting the results to be positive. Its a phase one, phase two study but most people expect it to be positive so i think that the risk is to the down side here the editor in chief put out a very unusual tweet last night that was basically three words that seem to be in some positive news for the vaccine he said tomorrow so not the typical kind of tweet you see from the editor in chief of a Major Medical journal. Thats crazy. Is that almost is he a friend of elon musk. That almost seems like front running. Go ahead, andrew. Hey, doctor, i have two questions for you. One was what you made of this study that came out over the weekend, about 65,000 people looking at children and their role as potential spreaders and the idea that between 10 and 19. If youre older than 10 years old youre no different