In southwestern louisiana, about 30 miles east as a cat 4 a storm surge forecasters say could be 20 feet deep. Good morning to you. Reporter good morning. The rain is steadily coming down here as hurricane laura moves up the coastline or state line from lake charles up to shreveport where i am the rain is coming down steadily for the past several hours this storm has been downgraded to a category 3. Many concerns remain around heavy rain that could lead to flooding and the possibility of high winds that could impact trees and cause trees to fall and lead to downed power lines and outages much like we are seeing in the southern part of the state. Shreveport is one of the places folks were evacuated to from lake charles we are here along the riverside where folks are staying in hotels to get away from the storm but the businesses here are closed casinos here are closed. The cities in the area, the surrounding area, School Districts all closed for the day as they wait out to see what exactly is going to happen with the storm here as it progresses throughout the day okay. We appreciate that report. Stay safe out there. Some of those images look difficult. Well keep up with you and it. Lets get to the moment that shocked the nba. The Milwaukee Bucks decided not to take the floor for game five of their series against orlando. They made the decision to call for change following the Police Shooting of jacob blake in wisconsin. The cause later taken up by the wnba, several baseball teams, Major League Soccer games and tennis players milwaukee player delivered a powerful message on what would have been the Live Telecast of the game we understand it is not gonna end but that does not mean, young men, you do not do anything dont listen to these people telling you dont do anything because it is not going to end right away you are starting something for the next generation and the next generation to take over. Do you have to be smart . Yes be articulate about the plan, yes. All of those things. They are professionals and they know how to be the best of themselves so i applaud it. It is the young people leading the way and i applaud them the nbas Players Association held a meeting about whether to continue to play this season multiple reports say l. A. Lakers and clippers voted against the season and the other teams voted to continue. The board will meet today to determine the next steps Milwaukee Bucks owner said they didnt know about the boycott before hand but wholeheartedly agree with the players dallas march riffs owner mark cuban gave us this statement i fully support our players. Change is never easy i am with them every step of the way. Its amazing to think the bucks decision to protest four years to the day after Colin Kaepernick took a knee moved on to baseball as well last night unlikely that there is anything near term. Im not convinced that the season was over. That was the lakers and the clippers, the first reaction last night patrick will be on, i think you are going to lead that interview. He said, if you want to continue to bring attention to the whole movement, maybe staying in the bubble and playing might be the way to do that it is not going to be today. There are games scheduled. Whether through the weekend, the week, whatever it is im hopeful that the season eventually gets played finished to me, joe. The thing that is so interesting is that there is a large, moral protest taking place, a test of leadership that could happen here, not just among folks like adam silver and folks in the league and other ceos in the country are watching this and thinking to themselves far outside of sports, what would happen if our employees protested in this way. From a business perspective, uniquely, this is a work stoppage and strikes are done to protest their employiers that arent doing something right the nba has worked hand in hand for players. How do you support these protests and movements sports is a form of entertainment. In other areas, there are operations that are harder if every ups driver decided one day to make a statement on a big moral issue like this, what do you do a lot of ceos have come out in favor of social movements in the like and staked their company and companys reputation on these things how do you handle these things when effectively the employees, this is now about stake holder capitalism in a weird way. Suddenly, they have a lot of power. They are saying something important to the country and the dialogue a unique conversation for our audience about what this means in the context of business we know what happens to how many people are affected by a sports shutdown. It is not just the players im glad there arent any concession workers or anyone else being affected because there arent any fans. There are people dependent on the games. People behind the scenes it is not nearly the number it would be if it was normal. There are ramifications. I dont want to get into the money about it id like to see the players compete. For everyone, i hope it comes to an ending where everybody is satisfied with what is accomplished and then get back to what we love to see them doing. In terms of direct impact, you are right. This is not a money issue. We go to that issue. You go to the Media Networks like espn. Draft kings took a leg lower sighing how it is rippled across think of what andrew said where we were as a country four years ago when Colin Kaepernick first took a knee. Corporate america was divided. Nike was criticized for taking a stand and backing that movement. Fast forward four years later and we have Massive Companies boycotting facebook for the month of july. There is almost an expectation of social activist if employees chose to walk out, there would be an expectation that companies should back them and that is a tricky situation i wasnt going to mention draft kings. It has nothing to do with me obviously. I was settled in yesterday for the bucks game and i got voided that has nothing to do with whats going on. I liked watching it for the past week i know the players love competing too. If you can feel comfortable that youve made your like chris webber said. Youve made your statement it wont come immediately and probably will be who knows, well be talking about this years to come. Hopefully progress is quicker. It is unfortunate. You remember when there were no sports during covid and now there are no sports for another reason its a journey. 2020 has been a journey and maybe an Inflection Point over a lot of our lives and things in our country. Well talk more about this decision its ramifications on sports and on business. After this break, well talk about the other stunning twist that took place overnight. The tiktok soapopera the newly minted ceo quitting last night in a letter made public well bring you the details after the break. Check out shares of netanyahuapp outperformed well be right back after this pampers the 1 pediatrician recommended brand, helps keep baby skin dry healthy so every touch is as comforting as the first pampers. The 1 pediatrician recommended brand what happens when switch to Xfinity Mobile . Well, the good news gets shared. And it gets rated 1 for customer satisfaction. But dont just take our word for it. Take theirs. Its your wireless. Your rules. Only with Xfinity Mobile. Call, click or visit a store today. Saying in recent weeks, ive taken reflection on the corporate reflection and the role i signed up for its with a very heavy heart i wanted to let you all know i have decided to leave the company. Mayer left disney to take this job. This is going to raise a lot of questions about the future of tiktok and the transaction microsoft with deep negotiations to buy that company. There is a clock against the deal President Trump said this company is either going to exist in the United States with a u. S. Owner or it wont be available oracle also said to be looking at this as well there was a question as to what the role of kevin mayer would have been sf r if he was considered a deman you might want to stick around if he felt there was a pay day on the other side or to negotiate the sale clear about the leadership and what this means for potential transaction as he did say, he is expecting a quote unquote resolution very soon whether that leads to one of these types of deals on the table or Something Else, well have to see. Melissa . It almost seems like it would lead to a resolution he was the coo of the chinese parent bytedance that role for him goes away. This is a shadow of what could have been if everything remained the same you have to wonder if the valuation of tiktok takes a hit. With him gone, does that impact what the company is valued at. Coming up, well get you ready well get you ready for a highly anticipated speech from fed chair jay powell at 9 00 a. M. Eastern time. Take a look at shares of box it looks at larger clients for cloud based business on top of the 7 gain in yesterdays regular session. Squawk box will be right back. Good morning, mr. Sun. Good morning, blair. [ chuckles ] whoo. Im gonna grow big and strong. Yes, you are. Im gonna get this place all clean. Ill give you a hand. And im gonna put lisa on crutches wait, what . Said shes gonna need crutches. She fell pretty hard. You might want to clean that up, girl. Excuse us. When owning a Small Business gets real, progressive helps protect what you built with customizable coverage. And im gonna eh, eh, eh. Donny, no. Oh. So much going on fed chairman to deliver a highly anticipated speech and how it will shift its approach after years of falling below the 2 target that speech to begin shortly after 9 00 a. M. Eastern. A busy day for data. Well get the closely watched leakly jobless claims. The second estimate of gdp in the Second Quarter pnding home sales for july Retail Investors have been buying boeing and advanced prices in the last week. The last couple of days, they bought American Airlines facebook and twitter have seen some selling joining the chief Market Strategist how are you . Good to see you. Despite that slight change, what do you think is behind that . I think for tesla and the split, you look at the past history of the splits we have seen i did think the American Airlines buy was particularly interesting. Our clients were buyers of the airlines when this started in march. Turn to the sell side there in early june now to see them start to nibble back when america started to announce some of the layoffs starting, i thought it was really interesting on the other side of it, looking at facebook and twitter. Obviously, facebook has been in the news a lot taking risk off of the table there because they feel the risk is some of the scrutiny they have been under could hurt them as they get closer and closer to the election ill keep our eyes on social media stocks as they have been involved with recently you started with today on the show how will facebook and twitter get into that. Of all the social unrest and the elections will people be more afraid to put their money back turning to the overall markets, nasdaq booked their straight day of gains. I know you noticed as of 12 30, they went to the market highs and the vic move higher. Do you anticipate that moving higher for both at the same time yesterday . Interesting and not a pattern you would expect to see. Weve seen strange patterns a lot. It has to do with a couple of things number one, weird a year as 2020 is, a lot of people are still on the final throws of vacation some places have people starting school and in some places, it wont start until after labor day. A couple of big orders could send things going. Weve seen a lot of things where weve had bonds and stocks higher at the same time. Overall, im not going to make a big deal out of what happened yesterday. It fairs watching. Whenever you see the vic, bonds and gold thats when i think youd have to start paying attention that Something Else may be going on whether stocks that day are higher or lower. We have a little bit of stocks being lower today. It is eight points and the s p 500 future you see recently that gets made up in a couple of seconds. Im not making a huge amount out of Yesterdays Movement there. We want to keep our eyes on it again today. You see it again today and two and three days in a row, you have to think there is a bigger story being told yesterday, a huge winner brought the entire sector higher wondering in days like b that, it was higher and you got news higher box sent that hire again for the premarket now do you seek that in the follow through given the market searching for growth i think the Technology Sector and some of the stocks we are talking about today continues to be incredibly appealing to everybody. It is the one area where you can see growth across the board in covid19 in retail, you dont see that. There seems to be two or three big winners. We are seeing Companies Taking advantage of it. They cannot only gain customers, they can keep customers. Once they start to get on services and salesforce talking about the fact that theyve had a great lift i dont expect people to say once they go back to work, i dont want salesforce anymore. Taking advantage of it and they dont want to see the growth in those one or two industries. They have so Many Companies continuing to innovate and now extending the time theyll go back to the office until at least january. So many of these have the opportunity to continue to do so i got to ask you one last question, that is about bar stool sports hes been a force in bringing Retail Investors aboard. That, i would imagine is good for all of you guys. Hes out there and professes hes not a professional. Is he a positive or a negative in your view i think first of all, more people being interested in the market is a definite positive. Two or three years ago, with sque talked about the market, particularly millennials and why arent they interested in the market hats off to him. Hes had this following the one word of caution he admits, go get educated that is the kind of thing that can tend to not go well. People understand the investments and people are working from home for the first time peeking interest and they want to do so it is a good thing for investments overall. Thank you coming up, could the white house cut congress out of the e equation on a Second Airline bailout. Check out shares of abbott labs they won u. S. Marketing for covid tests. Rolling out at a price of 5 bringing the stock up 18 . Well be right back. As business moves forward, were all changing the way things get done. Like how we redefine collaboration. How we come up with new ways to serve our customers. And deliver our products. But no matter how things change, one thing never will. You can rely on the people and the network of at t. To help keep your business connected. Good morning u. S. Equity futures this hour are in the red down a little less than a point. The dow indicated to be down s p down 2. 5 President Trump considering executive action to avoid the big layoffs at u. S. Airlines joining us now to talk about that and it is scott kirbys first hundred days as ceo of united 100 days ago is when scott kirby took over at united. A lot of people say, when you look at a ceo, look at the first 100 days on may 20, these stocks. All of the airlines, they were close to the lows of how far they fell off because of covid19 since then, united shares up 48 . What kind of a stamp has he put on united. The entire industry has been struggling hes been very aggressive and decisive about aggressively making moves, cutting costs. Adjusting the squed you adjusting the exceed you adjusting the schedule and adjusting the fleet. Uniteds capacity down 68hour. If there is one signature move, if there has been a number of them, that push centered around leveraging the mileage plus frequent Flier Program they borrowed about 5 billion the q 3 cash estimate 17 billion. They are still burning millions a day but thats down compared to where they were late march early april. Lets shift gears a little and look at all the Airline Stocks and focus on the question of if there is the possibility of another payroll package coming from the white house saying it is possible the president will say, look, lets do something so employees are not fired or let go. The Flight Attendants Union is not crazy about the idea why . Most likely, it would involve telling the treasury department, look, make several million available to borrow to pay these employees. The airlines have already leveraged substantially. They do not want to barrow anymore money. Theyll take a grant ultimately, joe, this comes down to how many people are flying. Right now, the traffic levels are down between 67 and 74 of the day. They are not down what people were hoping for. Remember, september and october are slower than what you get in july and august. The first quarter, that is the slowest time of the year for the airline. Tough stretch for the airlines coming up. It is a tough stretch you are right. There are realities of where you are right now. You like a bridge. If you knew there was going to be a block buster therapeutic or vaccine, you might try to keep everybody on that would imply a really sharp snack back in the fall is that even possible . Can an airline and a guy running a guy or a gal, can he depend on that and say keep everybody on no. Not right now. You talk with the airline executives, scott kirby, hell be the first one to say, i dont want to let however people we have to let go on october 2. But this has to become a smaller airline. They are not alone there is not the traffic or the business there in terms of international or Corporate Travel it is just not there they have to become smaller. The question comes if you want to keep the employees in place particularly the pilots and others that would cost a lot if you want t