The sessions you want to take a look at whats happening with u. S. Equity futures this morning. Dow futures up 10 points, s p up by three we are still under water for all three major averages even after the gains we saw yesterday the dow down about 3 . The nasdaq is down 5. 6 also bumping up against the end of the quarter. Major averages still in positive territory. Youll see now, it looks like the 10year is sitting at 0. 65 of 1 . Andrew, welcome back thank you, becky House Speaker pelosi said democrats proposed a new 2. 2 trillion relief bill saying it is a compromised measure with in funding for schools and airlines white house chief of staff saying President Trump would be willing to sign a 1. 3 trillion relief package well see, guys where this all heads. Inching along we went from 2. 3 to 2. 2. I dont know where the white house is Vice President mike pence said yesterday americans should expect a rise in covid cases in the days ahead as testing increases in some midwestern states show some worrying trends some crazy infection numbers in sparsely populated states like 25 infection rates. The warning comes as the global death toll hit 1 Million People. President trump says the government plans to disprib ut 150 million rapid covid tests from abbott labs as we move into the fall season. Cdc warns that shopping could lead to highrisk activity also participating in turkey trot road races. Dang, we have to cross that off our list i didnt are we missing something . My life feels empty. The turkey trot road race. Where did we get that. Did someone who writes this who did . The cdc. The cdc said avoid the turkey trot road races and parades and gatherings for large indoor events thanksgiving something to do with thanksgiving any of the events associated with this. You know that will be coming people are tired of the restrictions i dont want to go to some crowded indoor, not that i shop anyway but i dont want to go anywhere where people are rubbing shoulders. I would never use ptsd lightly because it is a serious thing but we are a little bit i do feel affected 0 in the future. Dont know when well get affected i feel when people are close to me does it ever go away i was wondering i like giving people hugs. I dont know that ill ever be back in the elbow not even a fist. That could transmit it someone gave me a fist they put their fist out. I put out the elbow. I dont want to touch. No skin to skin for now. Wow you must be a lot of fun i do miss hugs. The New York Times out with a report saying Top White House officials pressured the cdc to down play the risk of sending kids back to school. In a search for alternative data to show the pandemic posed little to children where dr. Redfield got in some water he was overheard making a private phone call requesting advice put out it has people in this position where they are not always sure what to believe. Leads to this fear that exists in our society right now it is a mess because it creates real credibility problem. Talking the vaccine issue. Part of that is the credibility of the government and whether the program will be administered properly cnbc has confirmed two women have come forward claiming Sexual Assault claims. The first from his cousin claiming that he groped her at a family wedding in 1989 first reported by the wall street journal after she tweeted about it the second comes from an event involving a minor in 2004. That complaint was filed on friday the reports he strongly denied and he resigned about a week ago following that report from short seller claiming that he had made false statements about the technology in order to attract investors. You can read the full story on line the full story over the weekend about how the actual truck design might have not even been his either might have been stolen from another company he had met with years ago. A lot of questions coming out about this not just the story of nikola but General Motors and the Due Diligence they had done on nikola and the stake they have taken in the company right it seems like separate stories doesnt it either the batteries in the trouks work but then again it may all be hes already gone the larger story is diligence. The story about spaks and the disclosure and how it works to begin with second is General Motors and whether they made their Due Diligence. You hire people to do real Background Research about who you are about to get into business with. Im a big fan of mary barra but she came on our air. Both of those women came forward after gm took the stake. Ive seen tweets both of them came forward after. Anything from your past is going to come out and catch up with you. Who knows what happens i have read one of the womens account and it was pretty graphic. Effectively a startup in history to find out where they are and what are their stories and if you want to do business with them. Im a huge fan of mary barra 1 she came on to talk about the wonders of this transaction. I wonder what gm does now interesting about what they can or cant do. The former gm executive that is there now trying to run things well talk about this more. Coming up, apparently, thereer there is a debate tonight. A big win by President Trump or joe biden could mean for the markets and delivering alpha back for the 10th year go to the website to see the lineup and to register well be right back. President trump and former Vice President biden preparing to face off tonight. Keeping close tabs to what the two men may have to say amid the recent wave of market volatility leading up to the election it is 9 00 guys. We have to work tomorrow what do we do . Two choices stay up late or get up early and see some of the highlights, right . I guess. Are you going to watch any of it ill watch the first hour youll be lath ar gik punchy 10 00 to 5 55 for you. So youll get. You almost get not bad, right . Thats about right. You have five minutes or give yourself seven or eight . I dont know i do remember the debates from four years ago i didnt know who was winning either of those debates i dont know if either of these guys are great debaters. Remember biden had some tough stuff. The question becomes are voters swayed at this point . There are still some that are undecided. It could factor it into election and with early voting starting, this is probably your last debate before some of those early votes come in. It is an important issue tomorrow, well bring you full coverage and reaction to everything that happens in tonights debate tomorrow marks the premier of the news with Sheppard Smith make sure to tune in tomorrow at 7 00 p. M. Eastern time up next. David teppers return may impact 150 milonolinheli he t states finances more after this quick break. Congratulations welcome to the aflac program. Aflac now tell me, what does aflac do . Aflac pays you money directly to help with unexpected medical bills. And is Aflac Health Insurance . No, but it can help with expenses Health Insurance doesnt cover thats right. Are there any questions . Coach yes . Can i get one of those cool blue blazers . You know i cant play favorites. Alright lets talk coverage. Its go time get help with expenses Health Insurance doesnt cover. Mmm hmm get to know us at aflac. Com hmms and ahhs heard incall. It was the move that shook an entire state when david tepper left new jersey for florida, it affected the entire budget now hes back and more about what it could mean good morning. When david tepper moved to florida, they called it a new forecast risk because the amount of taxes that one taxpayer paid. Now hes back just in time for new jerseys latest tax hike state president saying tepper called him saying he moved back to new jersey in january and that, quote, you got an extra 120 million coming from me meaning the new 10. 75 tax rate of tepper will be around 120 million a year when he moved to florida he became a National Symbol of propone nanlts despite saying then he moved to be closer to his mother and sister not to lower his tax bill he did not comment on reasons to move back to new jersey but im told it is also for family reasons. No longer the poster boy for lower state taxes. Jand Jeff Gundlach is threatening to leave california and move to a lower tax state. Back to you. Robert, no mention on this. If he moved back in january well before the new hire rate kicked in more than the top rate remember new jersey had this premillionaire tax compared to those making 5 million or more. That rate would have been in effect when he moved back. That tax rate since he left went from 9 dort 7 to 10. 75 many would argue that proves he didnt move for tax reasons. Look, hes now got nine states in the country proposing tax hikes in the country this will be a grand experiment to see p whether new york, new jersey, connecticut whether the wealthy truly move for tax reasons and what impact that has. I think you are baring the lead with andrew andrew, 120 million isnt too much to want to live in the garden state where becky and i live you finally went out of all the places someone in your position could go, you picked the jersey shore and got that tat. Like david tepper, i did it for family reasons it is a great place. Thats where we process all the sewage you send us from new york i see. We dont have any room here. Am i right or am i right thu new wealth tax maybe 400 a year top tepper alone will be about a third of the entire revenue of this new wealth tax. Relying on the new wealth tax to keep them. Our next guest, i think why did bogey move he moved to casa blanca for the waters hes a florida guy arent you in florida, mark . Im staying in florida. Im not moving or not increasing for the waters. Yes is. We are talking the capital preservation you look around. You are at the end of your roam, when you got there, all you found is a gordian knot. Is that right . That is basically something impossible to unralph it is so surreal as a result, it is tough to figure out thats right. Ive been on wall street over 20 years now and on your show as well this is about as tough a time for people to invest as i haver seen what the fed is doing is very good for the government coaching Interest Rates really low. Making it incredibly tough for seniors you cant find any yield anywhere all of those i just mentioned for fear theyll come back and bite you you dont believe in the poles or what either side is saying about anything . Almost impossible as an investor with the fed and with covid, you throw all of that in the mix what does that mean . Sell, sell and if you are in high yield, do you sell that do you raise a lot of cash are you worried in terms an election, are you worried about a democratic sweep i read an article that said it would be so fiscally stim tiff to get an idea if that would by up or down yes, im concerned. I think it is a good idea to have some extra cash generally in my life, the republicans were a little to the right and the democrats a little to the left. You no we are seeing a giant divergence between the two parties. Not just the candidates but the parties. The democrats want to raise taxes. Thats problematic in a number of ways cautioning in the first we are having a little audio problems i dont know whether you can meet me. You are frozen right now we missed the last couple of comments you were making let me check with you. Can you hear me and can you repeat what you said you are there now what did you just summarize the last 30 seconds we missed i would be cautious preservation and capital is the key going into these elections i would have additional cash, take some profits in equities, maybe out of the money puts. This is the time to be cautious and preserved. Ive learned that keeping what you have is a lot easier than trying to make new money that must be pretty good expression has to do with alexander the great. Really found the knot and then alexander took the sword and smashed it thats good. Sometimes i get that way with shoe laces i can see you doing that got to be patient. Thank you. As you said, 24 years. Hopefully will be another 24 that we are talking. Hope im not at the end of my rope andrew. Thank you. Coming up, United Airline pilots reach an agreement to cut their hours in a deal the company wont furlough any pay lots. But the jobs in other positions remain in the balance. Well talk about the high stakes deadline well do that next as we head to the break as we look at yesterdays s p 500 winners and losers 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. And then found the home of my dreams. But my home of my dreams needed some work sofi was the first lender that even offered a personal loan. I didnt even know that was an option. The personal loan let us renovate our Single Family house into a multiunit home. And i get to live in this Beautiful House with this beautiful kitchen and its all thanks to sofi. Good morning welcome back to squawk box on cnbc we are seeing some slight green arrows yesterday, the dow was up 400 points s p futures show us up about six points a points and nasdaq up by 32 we are now less than 48 hours away from a major funding skpidation for Airline Workers joining us now, great to see you, nick. Starting with what you think hangs in the balance right now what hangs in the balance are thousands of jobs and communities that small, medium and large will get going into the future congress has 48 hours to act and give a lifeline to its air industry and employees it is a good one 70 would keep people out of the grands, spending money and health care. 30 as you know was provided in loans and warrants on the company to be paid back. I think the big question is that was a loan provided in march with an expectation if we are being honest with a different time line than we have today. Now we have a better sense of the time line that could go even longer do you think the structure of the transaction and help would change, which is to say this will look more like a dip loan that would allow the airlines to continue to operate and taxpayers receive a lot more so that when things get better, it is not just that the economy continues to improve but the Share Holders would put the money at risk. No, we dont. A lot of reasons why this pandemic was no fault of our own. We have seen an up tick of demand in the early summer we thought would be helpful this is a jobs bill. Plain and simple all of that money we received last time and more from our companys till went directly to the payroll. Everyone from our pilots, flight attendants, gate agents need to be retrained and certified because of safety requirements you cant just take them off the job throw in the keys and start them up. Im not suggesting we fire these people but that money comes in and we are not going to treat the Share Holders of the airlines different than we treat those in hotel or lodging companies. I think taxpayers are be being kept back but what is in place theyve had their own place. Keeping them on payroll and keeping them out of unemployment why are you so intend in helping Share Holders. Why are they an advantaged class. I have no debate with you about keeping the airlines up and running. Strictly why should the Share Holders of the airlines benefit. You could structure so that exact number of employees keep their jobs and planes stay in the air. Only distinction is that the share holder is not advantaged i dont think they are advantaged right now what is happening here is the answer to keep the airlines is a noneconomic activity weve undertaken substantial selfhelp measure cutting management pay and cutting leaves you do recognize the share holder becomes advantaged otherwise the company would either otherwise go out of business or have to spend its own money or have to go to the private markets at terms that are much worse my question is why are you pushing on behalf of the share holder and employee. It is very strange that you dont have airlines saying we are very happy to accept money because we want to help employees and the economy but we recognize share hoerlds should not be advantaged. Andrew, i know this is a thing with you i dont believe the Share Holders are advantaged it is for the employees. It drives the industry all the time it can help empower recovery people want to get out and travel lets be frank, if you want to go see your family from california to washington, d. C. Or new york, you are not going to drive or take a bus or train. You need to fly there. We want to keep the ability to do so. 100 . By the way, nick, those arguments were made in the financial crisis in 2008 you have to keep the economy going and banks otherwise if the economy falls, it falters. Do you think the terms provided by the banks were too onerous. Frankly, the taxpayers got paid back not just in terms of the way the economy did in way you are suggesting but cash as well. There is a real distinction here between banks and airlines. In 2008, youve written about that extensively thats banks acting poorly, hurting their customers and take the economy down we have a once in a lifetime pandemic that is nobodys fault. It is a very different situation. The government needs to respond different to this than they did in the financial crisis, which, again, is something they brought on them sexes aselves and the ey 100 . Do you think lodging and others should get the same terms . They got better terms and how would you pay for that i think it was over time. They got better terms in cares one with direct grants pushing for a deal that doesnt apply to us but larger we think the economy can pick up and recover but it needs help right now. Its once in 100 year situation. The government can act here to try to ameliorate. It cant just go to hell in a hand basket. Nick, we appreciate you coming on. An important topic we hope we find a solution to help those employees and keep the planes in the side it is so important to our economy. We have a glimmer of hope today.