On further coronavirus stimulus until after the election the dow, which had been up, turned around and actually closed down by about 375 points. It was down by 1. 3 , s p down by 1. 4 and the nasdaq off by 1. 5 . However, this morning the stock futures are sharply higher this started last night around 10 00 p. M. When President Trump posted a flurry of tweets, one of them calling for airline and Small Business payroll support immediately. And another calling for a standalone bill on stimulus checks he was saying that he would sign these bills immediately. And as a result, take a look at the futures, dow futures indicated up with fair value by close to 200 points. Ylan mui has been following all of this and has more good morning. And just hours after the president walked away from the bargaining table, he appeared to take three steps back calling on democrats to pass targeted relief first it was that 25 billion for the and i remember industries Payroll Support Program and 135 billion for the Payroll Protection Program that is designed for Small Businesses he promised that he would sign those bills now. A little later, the president tweeted again, this time calling for a standalone bill to send 1200 stimulus checks to our great people immediately now, all three of these issues were part of the comprehensive relief package that the treasury secretary and nancy pelosi were ghoe negotiating. And until yesterday the white house and republicans had been hammering home the message that their priorities for any new deal were kids and job, more money for schools and help for businesses but the president laid out last night leaves out the first part of that equation still the abrupt end to the negotiations did draw criticism from moderate republicans. Susan collins called it a huge mistake and rob portman of ohio says no one should be throwing in the towel so it is possible that the president s tweets were a repleks r reflection of the difficult reality, but part of the reasoning for ending the talks have been so that republicans could focus all of their energy and their time on the next big fight, which is their nominee for the Supreme Court, so it is very difficult to see how either side wades back into the debate especially before the election and just trying to play through the politics, each side slamming it back into the others court, now it is in the Democrats Court this is not everything that they have been asking for, but a lot of what they have been asking for. Why dont this just pass it and send to the senate what i would imagine that pelosi would say is that these are items that were already passed and the senate didnt take it up and it will be hard to have relief for businesses and not have more relief for worker, especially those unemployed. The direct checks that the president called for, those are things that democrats had actually wanted in the package and that republicans resisted putting in there so unclear how that would play in senate as well. Once you start adding all of these items together, starts looking a lot like a deal. And if you have a deal, pelosis position has been it needs to be a big one because it is tough to weigh all the competing and conflicting needs of the voters right now. So well see how she ends up responding to this, but a lot of this will also be up to republicans to understand what exactly will the president support and what can all republicans rally behind and not that anyone on either side would necessarily be playing politics just 28 days before an election, but that is what this is at this point i mean, the upper hand on this, if the president saying on the top line level these are the things that i would support, i dont understand why the democrats wouldnt take him up on that. There is obviously a lot that has to go into this, but if he would be willing to sign some of the big issues, okay, move it along. A lot of americans are out of work and need help and granted this doesnt cover everything, but it certainly goes to a large step of what had been out there particularly the Airline Workers and Small Business where the need has beaeeen so great i think the other part of the challenge is while the president is clear in the tweets that came out last night around what he would support, his position has shifted over time. Again, just a few hours before the tweets came out saying that he would support these items, he was also saying that didnt want to reengage until after the election so there could be some distrust on the part of democrats where the president would stand and what any of the bills would look like and the other issue, republicans feel that democrats are not negotiating in good faith. Mitch mcconnell said that pelosi never put forth a reason able offer and was just stringing republicans along in order to score political points so there is a lot of rancor and distrust on bort sidth sides and this is pretty volatile and you can watch it in the markets reaction, the wild swings up and down any thought about that volatility, whether that slows down, whether the whip sign reaction slows down or does it just speed up as we get closer to the election . Well, i think that this was a very surprising turn of events i think that democrats were caught flat footed by this, they were supposed to be continuing their negotiations yesterday not calling them off so i would imagine that there is ongoing volatility especially when tensions are so high for the markets, i think there is a lot of noise and confusion and mixed signals. There are efforts by both sides to pass individual bills and tried to provide some relief but a lot of that ends up being political maneuvering at the end of the day so it is difficult to see what actually gets passed i know this came as a surprise to the democrats, nancy pelosi said as much, what about to the republicans and to mitch mel . 24r there was a phone call that took place yesterday afternoon were trying to get clarity on what was happening in that conversation when the president put out this tweet but from my own private conversations with folks from the gop, there was indications that there was an imminent deal, that the talks so far between mnuchin and pelosi were progressing and there was surprise on the behalf of the republicans as well that the president would walk away from the table. Perhaps the tweet that the president sebnt out last night did more to sooth that anxiety that the president is not completely walking away from providing aid to businesses and families, but again, there are a lot of competing priorities here and in order for republicans to rally behind an idea, they need a clear message from leadership that provides both the policy prescription as well as political cover for them to take what potentially could be a difficult vote at a sensitive time and so it will be incumbent i think on the president in order to make that case. And right now what weve seen is a lot of conflicting signals from the white house and im sure that wont be the last twist or turn that we see in the story good to see you. Thank you. Guys, what do you think . We shall see. Well have Neel Kashkari on. What happened to him he wants to open the spigots you could go piece meal, i appreciate the idea of going piece meal, but i think the politics long term are worse in some ways because if the airlines for example get bailed out, and the Small Businesses dont, or the unemployed dont that is why i think that there are a lot of questions to it at this point they are playing politics and politics only and each side is trying to smash it back into the others court and saying hey, we wanted to help but the other side wouldnt so at some point, you have to call somebodys bluff. A lot more coming up, guys. Great to have you back, becky. When we return, the other big bombshell yesterday, house subcommittee releasing the antitrust report calling Big Tech Companies monday ongahela that pmonopolies and saying that they should be broken up or regulated, well tell you what it means for amazon, apple, facebook and google. And apple announced a Product Launch event to happen october 13th, it is expected to reveal the next model of the iphone plus more news on facebook, the company has announced that it is banning qanon across its platforms. The latest attempt to stop the spread of disinformation ahead of the november election fourth deployments there were tsunamis in the world. And once they happened, we were in a major hurry to get to those regions to provide aid and support. It was very humbling to be able to help out all those people. Its my dream now to go into clean energy and whatever the next new fuel source is, thats where i want to be. I want to be on the front lines of implementation. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save up to 400 a year on your wireless bill. With the carrier rated 1 in customer satisfaction. Call, click, or visit your local xfinity store today. Welcome back House Judiciary Sub Committee on antitrust releasing its report on big tech and that is now officially concluding that google, amazon, apple and facebook have monopoly power and Congress Must take action they say to change antitrust laws joining us to discuss how this could impact the mega cap tech stocks, dan ives. 449 pages, it is damning the question is whether it has a real impact. The word monopoly used over 100 times. At this point, it really comes done to legislative fix. They have weighed the dwrout co outcome, but at this point it is really more words. But right now enforcement of this is the key issue. I think investors continues to be what is needed to contain risk unless as weve talked about you get a blue wave in november, it changes the game. Because then you potentially could have law changes in terms of sherman and antitrust issues. That is the focus right now for investors. In a way you could take it as a positive for some of the companies that current law as written would actually make it very difficult to bring a meaningful case to break up any of these companies, right . Yeah, it hits the nail on the head and that has really been our view and i think most investors that the way the law is written today, it is almost an impossibility to enforce the issues right now the dwroeoversight boy will change, ftc with ultimately more power, but when you look at apple, 107b, facebook, google, that will be the focus for investors going into november. Right now it is more words than actions, but that could easily change with doj and state ag potential suits. Could you imagine the sherman act being rewritten . Given what weve seen here in tech, i could see it i think what were seeing in terms of the strong getting stronger, especially even over the last six, seven months and you are seeing the big tech battle really start to ratchet up i mean, this is really fort sumpter moment or fork in the road in terms of how it is handled calling out the he will havent in t he wielephant in the room but without a blue wave, i dont see that. Will elephant in the room but without a blue wave, i dont see that if you could measure from highest risk to lowest risk of the four companies that were the targets of that report in term of how damning that report was, ultimate ra you would rank order them how . I think worst is facebook and followed not too far by google and alphabet and then amazon and then i think that you would put apple at the last but i still think even when you look at apple, honing in on the 30 in the beltway and the eu, if you look at stock trillion of market cap and from an investor perspective, i think facebook and google, they have the target on their back front and center do you believe there is a discount already applied to whatever you think the regulatory cost is relating to their existence frankly that is an overhang on all these stocks or not at all . Not at all. Id say right now from an investor perspective, remember fines for these companies is like pocket change and investors are fine with fines. But you in terms of Regulatory Risk from a breakup or significant Business Model tweaks, as well asle you lo lyo acquisitions, they will be i impossible for these Companies Going forward. If we get into november and we see changes in the beltway, then i think there is more pronounced risk depending on the drum roll as we see this over the next year i view this risk much more than the u. S. china when it comes to Tech Companies and finally, dan, on our screen, were listing another company that lived through their own antitrust crisis of sorts 20 years ago now, but still one of Biggest Companies in the world, microsoft. Where do you think they land they are on the outside looking in they went through their nightmare nightmare on elm str scenario i think that micro off the is in a good situation as you have seen because they dont really have antitrust worlds. Cloud continues to be front and center they can be aggressive on acquisitions so to extent their history becomes part of their success Going Forward as they dont have the handcuffed situation in terms of acquisitions and where they could go. And i think that is what you saw on tiktok, they are the only ones that could potentially go after them, faang names couldnt look at it dan, what are you doing on october 13th, have you already scheduled the whole day . Scheduled the whole day to me, it is the most important product event in the last decade for apple. It is the super cycle, iphone 12, 350 million iphones in an upgrade opportunity. I view this as really this precedent setting for apple and that is something that the calendar is booked that day focused on what cook and cupertino will come out with so do you buy ahead of the news or sell on the news in this days do you have a different view i have a different view i think this time it is a golden buying opportunity because of the super cycle it is an unresidentsed you have 40 of the install basis havent ungrade fd in 3 1 2 yeas 5g is a parabolic change for apple. Im a buyer into the event i think we look six months now, it is a 150 stock, a year from now, it could be 175 dan, appreciate it. You got your own name behind you there. Yeah, that is the ives etf which is along with webbush, we launched that in april sneaking in a Product Placement in i like that. Thanks, dan. Thank you yesterday it was physics, monday we had medicine, today it is chemistry and molecular biology. But it has been which is kind of the same thing. Been awarded to an american scientist and french scientist they developed a xwgenome editig to this is much more recent anyway, were waiting for the big one, the nobel peace prize, that could be the october surprise maybe it is putin. I know he got nominated. Coming up, a trex skeleton shattering expectations at a christies auction what do you do with that thing after you buy it i dont know but well show you the price tag next here is a look at the latest Airline Stocks erasing much of yesterdays losses after the president called for congress to pass an airline stimulus bill in piece meal my parents worked long hours and i helped raise my younger brother. When college felt out of reach, the kpmg future Leaders Program was there for me. It was more than a scholarship. It was four years of mentorship and support. Today, im an Investment Banking analyst and im just getting started. The kpmg future Leaders Program. Empowering young women to reach their potential since 2016. Time for the executive edge. And an update on a story that we first told you about a couple weeks ago. Christies sold the t rek skeleton nicknamed stan, 31. 8 million, that includes fees. The auction culminated in a 20 minute bidding war with buyers on the phone in london and new york, the winning bidder has not been identified, but somebody is taking a dinosaur home today how do you do that . Very carefully. I mean they assembled it obviously. They would have it pay to disassemble it and i guess it doesnt matter if you have 38 million to spend on a dinosaur a little compression in that one disk there bets you that was painful. I think youre projecting, joe. Maybe i am. Ive been called a dinosaur, proudly. Anyway, and i was talking about the compression in your disks. I know you were but as an aside yeah, no, im good and the music world sad, remembering guitar wrist Eddie Van Halen who died yesterday, been battling throat cancer for several years. The band was indektsed ducted rock n roll hall of fame back in 20007, considered one of the greatest guitars and he never learned to read music. I dont think that lead guitar player what percentage of lead guitarists really read music . They are playing lead guitar he once told Rolling Stone that he learned by watching his guitar teachers fingers im sure he knew chords, but very few now, piano is different. You got to you really need to know how to read music but i dont know, to be in a normal band, reading music maybe some did i dont know i never did. It depends on if you are writing the music itself or following somebody elses stuff. I think that he came up with a lot of his own arririffs. Air guitars dont need to read music those of us of a certain age remember Eddie Van Halen with his row plans with valley bertinelli, she was on talking about how much she will miss him, she and her son, they were divorced but still very close. So just a big piece of our growing up and going through middle school and high school. So hard to look at this. He was only 65 only 65 a big lineup still to come, including dr. Scott gottlieb on the latest fda vaccine guidelines and also chevrshe hav chevron c kashkari and also larry kudlow 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. At cdwwell weve made our happy,off