Look theyre higher across the board. The nasdaq is up by 134. Its early in the morning but these are pretty significant green arrows at this point take a look at whats happening at the treasury market and youll see that right now the ten year is yielding where it has been 0. 996 joe. Tik tok, the latest here. Developing late yesterday, the u. S. Judge blocked an order that would ban tiktok from being downloaded in the u. S. The ruling is the chinese owner byte dance has more time to get approval from u. S. And Chinese Authority which is unclear if that really happens for that deal with oracle and walmart the judge did not clock a much broader ban which is set to take effect on november 12th which the way things are going will be here like tomorrow i wanted 2020 to go quickly but now im thinking its just going too quickly. We wanted to go quickly. Still 2020. You still did your best Barbara Walters with that. 2020. And hugh, hugh had a long illustrious life hugh is gone now but we remember still on, just different people. You can do 60 minutes. 48 hours and then the grandaddy of them all, dateline. Theres times when i wish it was on every night but then when i watch it too much, i start worrying i worry about everyone was theres so many its usually the husband though. Things that could happen. Yeah. But its usually the husband. Even if hes out of town he has something going on do you know what i mean . So i dont have to worry about myself, or do i . Thats the question. The u. S. Government imposed restrictions to smic thats chinas biggest chip manufacturer reports say the Commerce Department sent a letter to companies that said an export license will be required to sell certain equipment to smic. They said theres unacceptable risk that equipment may be diverted to military end use the move could set back chinas goal of strengthening its semiconductor industry. They told cnbc that it has no relationship with Chinese Military and does not manufacture for any military end uses but this goes back to what were hearing with tiktok. Is there any deal that you think that could be one that would appease the United States government and the chinese one. What does this mean about decoupling or not decoupling what are we going to be able to agree with the chinese on anything thats really important in terms of security or data or i mean, now its personal data you heard kyle saying that we need to worry about our young people being brainwashed i mean, if you really do worry about the age old coomunist versus capitalist, cold war, whatever you want to call it, were smack dab in the middle of that i dont know whether a different administration, if there was one, i dont know how that would effect it but its an important trading partner and remember 2, 3, 4 years ago before we thought that there would ever be any sentiment we were just hurdling headlong toward a United Trading world and now its all theres people talking about two separate like entities two separate internets two separate economies. Two separate internets. Yeah. I dont know. And trying to see where this all goes and that exchange of information, i mean, very interesting on what the judge has ruled on this. Not ruling on the november 12th restrictions at this point but just the idea that saying you cant put this in effect now, china has figured out how to use our own system against us going through the courts by doing this you cant unilaterally, if youre in china use twitter or the other social networks that the u. S. Has created so china has figured out how to put this back on us and well see how this plays out. And we still, you know, if human rights is really front and center, people like that dont want us to deal with china at all. Its not pretty and well see what happens with hong kong, i dont know, becky. The world is i dont know, and then we got the pandemic so what can happen from here . World war iii . I dont know lets hope that 2021 2021 goes back to like the 50s. You dont remember the 50s i dont either but there have been times in the past there have been times in the past where i dont know, is it the internet . The news cycle, im exhausted. Im exhausted. This latest stuff. I cant believe its just been two days since the president made his nomination for the Supreme Court. That seems like a week and a half ago. Of course nothing going on this week. Wait until tomorrow. What is that going to be like. The debate. And 70 of the people say the debate isnt going to change their minds. But what are these two guys going to do to each other . I have no idea whats possible how many times will we hear the word tremendous. Its going to be wacky and wild. Can you hear crickets chirping here . I dont know if you can hear it. Theyre in my basement theyre driving me insane. I was going to tell audio thats rude to play crickets while were talking. Theres people at home that think that thats appropriate. Oh, this is a commentary. How many crickets does it take it could be just one cant it . Its one. Hes right over here i want to go over and say hey, quite down he stops for about ten seconds. Its just their legs, right and is it yeah. Is he looking for is he looking for another cricket . Do you know . Thats what it means. Are you in the mashlrket should i tell him . No, but isnt it are they you know, are they saying come hither, do you know . Its a mating call. It is you know that . I believe thats what ive heard i dont know i should look it up on the internet but yes i think youre right. Theres only one cricket you have a problem yes. Thats the answer. Let in more. I guess we got to go but its a weird sound, is it not its over here. I cant find him. You really can thats all i hear. They put it through the is it happening right now. Im glad theyre filtering it out for you. Ill stop. Its happening right now you dont hear it. No. Thats all you need. Anyway, news breaking in the last hour, uber has won its legal fight to continue operating in london. A judge overturning that ban on the ride hailing app by the citys transport regulator at issue is a glitch that allowed unauthorized drives to upload their photos to other driver accounts and fraudulently pick up passengers they usare the largest market fr uber thus far. Tomorrow night is the first president ial debate. Overseas, brexit negotiations begin tomorrow havent done that yet . On wednesday, well get the latest gdp data. That should be interesting that i guess is a big number jobless claims and personal data on friday. We get the september jobs report two other items of note for wednesday, first, our delivering alpha conference is back for a tenth year go to delivering alpha. Com to see the lineup and to register and then second, wednesday marks the premiere of the news with Sheppard Smith it will provide deep nonpartisan coverage to the most important stories 7 00 p. M. Eastern. All right up next, we will take you live to washington for the latest on stimulus talks and the republicans plan to confirm president trumps pick for the Supreme Court. The futures this morning, as we mentioned, theyre up pretty significantly. Dow futures now up by 347 points s p futures up by 41 the nasdaq up by 170 squawk box will be right back. And more on the latest on the covid stimulus talks are you exhausted . Are you going to sleep in december is that what youre going to do . Maybe, maybe not. We could be having a president ial transition. Its 2020 its not over until its over. Until the year is over i dont think. It cant get any crazier. Everybody keeps saying that everybody keeps saying they want 2020 to be over with and everything be careful what you asked for. I said that september 28th, what happened . September 28th, the leaves are changing what happened . I dont know its still march. Its like march 51 right now anyway, this, you know, of course this had to happen. Rbg. God bless her, but, you knew that but we werent thinking about that necessarily and then here it is, front and center so here we go. Yeah. So look, all the speculation joe was that its going to be Amy Coney Barrett and thats who she picked unveiled the selection for the Supreme Court. She linked herself with judge scalia of course a conservative icon. I clerked for Justice Scalia more than 20 years ago but the lessons i learned still resinate his judicial philosophy is mine too. A judge must apply the law as written. Judges are not policy makers and they must be residenolute in seg aside any policy views they might hold. Senate republicans have said that theyre going to start the confirmation hearing process on october 12th that gives a very, very tight window but they think theyre confident that theyll be able to do this and have her approved for the bench before the election well see if that holds up and if theres any waivering republicans out there. Right now it looks like they do have the votes and meanwhile, we saw the speaker of the house, nancy pelosi on television yesterday saying she is working with the treasury secretary on another covid stimulus bill. Theyre at 2. 4 trillion on the democratic side. They may have a bill that they put on the house floor this week that would be the democratic priorities and vote on that but what she would prefer to do is have a negotiation and a deal with republicans and put something on the floor that could get democratic and republican votes maybe as early as this week well see if that holds together thats a relatively optimistic time frame, joe, given the struggles that both sides have had in finding concessions to meet in the middle here. Pelosi on cnn yesterday was debate wrg the middle is, right . And she is saying that she doesnt want to come down any further to meet the republicans at a smaller bill because of the scale of the problem so thats been the crux of the negotiation all along and well see if they can do anything about it all of that happening this week. Also we have the debate. We have the president ial debate coming up this week. We have the jobs report coming up and the Supreme Court nomination fight is going to be a fascinating week in washington, joe. We dont do that stimulus too. We keep talking about the Airline Industry the furloughs are coming in. Theyre huge numbers we talk when we hear about pure capitalism and, you know, i lean that way but, you know, i dont think they screwed up. If they dont get anything its going to be heartbreaking. Were talking about quite a few people that are going to be i dont know if its permanent or not. What are the estimates . Tens of thousands, right yeah. Youre talking about an enormous number of people. Think about it. You know, the you you put your money down. Youre taking a chance if you lose, you lose. And youre talking about an industry that we take for granted. They fly to an island and they dont land and they fly back at home and get off and they say i feel like i was on a trip and i dont need to quarantine now i would not do that. I dont want to sit on a plane for four hours to land where i took off but people, its an important industry aman. Those are the people that go around saying life is not about the destination. Life is about the journey. Thats literally the case sometimes. Its about the journey. The food and the peanuts. All right. Thank you aman well sleep in january maybe. Now for a closer look at the headlines that will impact brian, thanks for joining us you have been i guess you got your finger right on the pulse youre seeing the slightest changes in the way that the trends are going and the scotus process just added another layer of complexity of a already volatile situation what does it mean and what do you think gets an advantage from it netnet in the end, if anyone. It might be a wash, joe both bases are going to be charged up probably pretty eq l equally. Theres polling the last couple of days that voters would prefer the president to wait and the senate to wait but, you know, i dont see any indications that its a high priority for them. I think at the end of the day, debates are going to matter hugely the state of the economy the status of the covidpandemic i think theyre all more important than the scotus nomination and confirmation process. It will be great for tv. Its great for the partisans involved but for voters looking to change their minds and are still weighing and there arent a lot of them but that small cohort of voters, unless theres something in the hearings where one side overplays a hand, somebody trips up in a statement, i think at the end of the day, its a wash. I remember the last one and already a couple of the stars of the last one and i use stars in a you know, whatever, but bloomenthal, neither one of them is going to meet with Amy Coney Barrett. Im just wondering whether you know, shes a very impressive, obviously person, woman, and i wonder if you can get away with some of what we saw with kavanaugh or not . I think maybe that might be that might change the dynamic of what we see this time around dont you think . Right thats what i was illuding to. Can one side overplay its hand. Can they be so dismissive of a qualified candidate that it backfires on them . Can democrats in asking questions come across as condescending to people of faith and how they act in the Public Square whether they can bring their faith into the Public Square and be faithful to the laws of the constitution and ask those questions in a respectful and meaningful way without looking down their noses at somehow we have seen some of the reporters out of reuters and other outlets initially describing or characterizing judge Coney Barrett and it was probably fairly insulting to a large number of americans. You also talk about the senate they were not good biden had the biggest lead and look at a number of senate races. And when democrats have the biggest leads in those races im not saying its a guarantee that republicans are going to win but over the last couple of weeks as is a natural tendency in elections the base come home. Hey, brian, before we go, heres the New York Times. The story about the taxes which is, do you remember a couple of years ago we had a pretty good idea about some of this. The real estate losses i thought it was from the New York Times we got some numbers. 750. Thats the New York Times right there with everything thats going on thats it go ahead trump opponents got what they what they believed all the time Trump Supporters will dismiss it this is the trump we know swing voters, its kind of the same this is the trump we know. Did it put significantly more meat on the bones that its going to change voters attitudes and opinions of the president . I doubt it its an interesting article. Youll read it and you may find something new about how you can change tax law to your advantage . Does it change him as a business man and a person i dont see it this is consistent with the opinion and it does not change things. I agree with you. I dont know that it changes anybodys opinion on this but the the reason that it layed it out is its their exclusive reporting. Theyre the ones with hundreds of documents the journals just following what they have to. Right but last time it was her last time too, this is more years its obviously many more documents including a couple of years while he was president in 2016 and 2017. I dont know that it changes anybodys mind but the reason its displayed so large across the time its their original investigative reporting. Its also a pretty big election coming up and, you know, if theres if somebody breaks the law and cheats on their taxes they need to be prosecuted and go to jail. That is absolutely the case. But, you know one of the things that it brings up is there is this question of 72 million that he took in a tax refund at some point thats still being audited by the irs. If that comes out and there was actually breaking the law then theres going to be serious consequences. He would have to pay fines, right. The article estimates it would be 100 million or more because of the fines but yeah, well see what happens but brian, most wealthy people pay exactly what they know. It was a great advertisement for tax lawyers. They pay exactly what they owe. Some of them, patriotic millionaires, they talk about wanting to pay more but none of them have ever used that little line down on the bottom on the irs form that says i want to pay more theyre like oh, well, id like to, but they dont anyway thank you. Thank you, joe. Okay. All right when we come back this morning, the New York Times as we just mentioned publishing a detailed review of years of president trumps tax returns. Robert frank joins us with some context right after this right now, though, as we head to a break, heres a look at the biggest premarket gainers in the s p 500 this morning and theres big gainers because the futures overall are up pretty sharply. The dow, theres carnival. Carnival, american airlines, some of the Royal Caribbean is also on the list there some of the stocks that you look at when you think that potentially well get back out there again. The futures for the dow up by 366 points s p futures up by 44 the nasd up aqby 188 squawk box will be right back. Thats what my dad does. Good job, michael ok, lindsey now tell the class what your mommy does. My mom has super powers. Its like she can see the future. What . its like she time travels in a rocket ship. Thats cool and then she comes back saying try this or try that. She helps everyone. She helps them feel less worried. Wow mommy, so what is it that you do . Im a financial advisor. She is aig proudly supports all the professionals taking care of our financial futures. But a resilient business you cacan be ready for it. Re. A Digital Foundation from vmware helps you redefine whats possible. Now. From the hospital shifting to remote patient care in just 48 hours. To the university moving hundreds of apps quickly to the cloud. Or the City GovernmentGoing Digital to keep Critical Services running. You are creating the future on the fly. And we are helping you do it. Vmware. Realize whats possible. Vast write offs and audit battle and hundreds of millions in debt coming due robert frank joins us with more on this story. Good morning. Good morning, becky well, this report saying the president paid 750 in federal income taxes in 2016