"fast money" team. >> i would encourage people to keep in mind it's been more or less trying to stick into a range right now despite all the drama. >> the president of the united states is fatigued but in good spirits, breaking news this afternoon on cnbc. we'll pass it over now to melissa lee and the "fast money" team ♪ cnbc's breaking news koch g coverage continues right now i'm melissa lee. welcome to "fast money." we start with late-breaking developments out of washington the president and first lady in quarantine at this hour after testing positive for covid-19. while congress shows major signs of progress on the next round of the coronavirus stimulus plan. we start out with breaking news on the president's house, the white house just announcing a short time ago that president trump is taking an antibody

cocktail made by regeneron let's get to meg tirrell with the details. >> reporter: we just got confirmation from regeneron itself as well that they provided this experimental drug to the white house at the request of the president's physician on what's known as compassionate use. that is a way to access experimental drugs outside of clinical trials. now this is the drug that we just saw the first data on, i believe on tuesday afternoon i think i said it was last week, but that's because time is of no normal consequence right now so it was just earlier this week that we saw the initial data from clinical trials on this antibody cocktail from regeneron for covid-19 it was 275 patients and it was promising data but very early. it showed in patients who have covid-19 but are not yet hospitalized with more mild to moderate disease, that the drug reduced levels of the virus and also helped improve symptoms

they said it showed positive trends in potentially avoiding the need to go to the hospital they said it really validated this as a substitute for the naturally-occurri inring immune response the company has enrolled 2,000 people in these trials and they've seen no unexpected safety events. the president has received the high dose of this cocktail that regeneron tested in its trial. we'll see how he does. we're also remind you that even though this is the first trial we've seen for the coronavirus with this approach, regeneron developed a similar drug of three antibodies it put together for ebola and in a clinical trial in africa, it did show that it saved lives. so there is precedent for using this medicine or this approach >> meg, thank you. mega t we have some breaking news on the status of president trump. let's get straight to shepherd smith. >> thanks.

we just heard from the white house doctor a short time ago about that regeneron antibody cocktail that you mentioned. nbc news is further reporting that the president has a low-grade temperature and has for the better part of the afternoon at least and that he is fatigue d, according to his doctor, but in good spirits. a couple of lines within the memo from the doctor at the white house are of note. as of this afternoon, it reads the president remains fatigued but in good spirits. it goes on, he's being evaluated by a team of experts and together will begin making recommendations to the president and first lady in regards to the next steps and then it goes on to say, the first lady melania trump, remains well with only a mild cough and headache, and the remainder of the first family are well and tested negative for covid-19 we've been discussing over the last hour about where this may have happened and where there

might have been a super spreader event, if at all dr. gottlieb suggested on tuesday, the debate in cleveland, that the president was presymptomatic and likely had gotten the virus, according to dr. gottlieb, in the days prior, he said possibly around sunday it's important to keep in mind on saturday there was the event regarding the new supreme court nominee. during that event, the president was there, the republican of utah, mike lee was there mike leane announced today thath is testing positive now for covid-19 in addition, the president of the university of notre dame was at that event and he today says that he has tested positive for covid-19 there is video from that event during which mike lee is shaking hands and hugging and seeing a number of people in that crowd without wearing a mask the president did not wear a mask at that event as well during that same event, i

mentioned it was for the new supreme court nominee judge amy coney barrett. we now know that judge amy coney barrett contracted the disease back in the summer she was positive for covid-19 during the summer months she recovered from covid-19 and has been tested again today and is negative for covid-19 that's where the questions about antibodies come in and whether it's possible that she has some degree of immunity from it, at least in the short-term, which would be, i think, probably, melissa, a better question for dr. gottlieb but at any rate, that saturday event for the supreme court nominee appears to be at least an event in which a number of people who were in attendance have now tested positive whether that could have been a super spreader event is likely reporting for another day, but by tuesday we just got reporting that, in fact, both of the candidates has been tested and tested negative.

the truth is you can have been exposed and not yet test negative over a period of days there's an incubation period that varies from patient to patient. so it's entirely possible that the president could have tested negative on tuesday at the debate and yet have had some of the virus in him, having already been exposed, just not enough to test positive at the time. we're watching the white house and waiting for further updates from doctors >> thank you, shep let's get to dr. scott gottlieb. great to have you with us. we've been talking all day long about. given what you know and what you believe about the time frame and given what the president is now experiencing a low-grade fever, what is the critical time frame in your view in terms of the president's health and the trajectory of this disease >> really the next seven days, next week, you know, there's a good likelihood that the president's symptoms won't progress the vast majority of patients

develop these kind of symptoms that the president is exhibiting right now and the infection resolves what you worry about is it progresses to that sort of second stage so the first stage of the infection is the viral response stage. you're infected with the virus and you're responding to that infection. the second stage that some people progress to where they get into trouble is the inflammatory response to the virus. this post-viral inflammatory response that gets some patients into trouble. that is typically 8-12 days after the first onset of symptoms so i think that's the window in which we would be looking. if the president's symptoms don't continue to progress over the next week, that's a very good sign. if they continue to progress into next week, then you'd be a little bit more worried that he may progress into that more serious phase two, if you will, of the virus. >> i want to layout the time

frame of vice president pence and when he'll be in the clear, so to speak, from covid by taking tests every day when will we know that he is completely covid-free? >> typically it would be 14 days after exposure we know the vice president was last in contact, i believe, with the president on tuesday but 14 days is an outlier. someone who first came down with symptoms 14 days after the exposure, that's sort of the oudou outer bounds, if you will. from tuesday to today, you're pretty far through that window i think after you get through the weekend, you can feel more comfortable that there probably wasn't infection that occurred from any exposure. >> we've also learned that supreme court nominee amy coney barrett had the disease. the question of whether or not she had antibodies, this is all in the backdrop of whether this

nomination goes full steam ahead as republicans would like. i'm asking in this context do we have a sense at all of whether or not there is still antibody protection if she was infected over the summer >> probably. there's a period of immunlt after immunity after infection it's highly variable for most people it would be 6-12 months that you would be partially protected after infection. this appears to be a second generation infection there was some first generation event that occurred. that probably occurred over the friday to saturday time frame given the timing of the onset of symptoms of the president and first lady and hope hicks. hope hicks was most likely not the index case here. she became infected perhaps from the same source. that puts that event on saturday, you know, in sort of the spotlight as a potential event where these infections could have occurred. >> meg, i want to bring you back in what do we know about the

efficacy of this regeneron cocktail presumably the white house officials have indications that this in particular would be promising as a treatment for president trump. >> one of the really interesting things regeneron did in its clinical trial was to look at whether patients had actually mounted their own immune response to the virus before they administered them the drug or the placebo what they found was it was particularly helpful for people who hadn't mounted their own immune response. what you're essentially giving these folks who didn't build up their own antibodies against the virus is antibodies that came from somebody else who recovered from the virus and also one that regeneron designed in its labs so we don't know whether the president was tested to see if he's mounted his own immune response and they determined that if he hadn't, this would be

particularly helpful hfor him. nonetheless, the antibody cocktail did reduce the viral load in these people with mild to moderate covid who had not been hospitalized and helped clear up their symptoms faster we don't know if it prevents severe disease, although there were trends in that direction in the trial just because the numbers were too small this drug is also being tested in more severe patients who are hospitalized as well as a preventive drug to try to prevent disease in somebody who lives with somebody who has covid. in this trial, it was promising but it's just phase one and two and it's the first data we've seen dr. gottlieb said last hour something interesting he heard secretary azar say this morning in testimony, which is it could be a matter of weeks before one of these antibody treatments

might get an emergency-use authorization. it seems as though these things may have already been moving through that process. >> i want to get to some of our traders to digest this in terms of the market lens steve grasso, a lot of what's happened happened after hours and we saw the markets recover through the course of the day, mostly on the back of stimulus developments >> so i think the reaction was hopeful for the overall market today. you know, if you had asked me what's the most important thing, i think the stimulus headlines or the stimulus percentage chance that it will get done that's the most important thing for the overall markets. when you look at what that means, i don't think people are reading tea leaves as far as biden versus trump, although that was the headline that moved the market pre-opening

i think stimulus took over the rei reins. but you're starting to see that growth be sold off and cyclicals just bought again. i think what you're looking at there is people are going to sell their growth stocks they have huge games in if biden wins, we know a couple things taxes are going higher you have out sized gains in these tech companies we know that tech is going to be going on a bullseye on its back as far as regulation and breakups why not lock in your profits in growth and roll in as the market did pretty encouragingly in the cyclical names like they did today. >> let's get more on capitol hill and developments there. lawmakers are working on this

next round of covid aid. >> reporter: the treasury secretary and the speaker of the house are still talking and they appear to be making some progress the two of them spoke over the phone this afternoon for more than an hour weknow their conversation covered five key areas where democrats say they still disagree with the white house. those include unemployment insurance, state and local funding, the child tax and earned income tax credits, language on testing and tracing as well as some proep reeapprops pelosi said they are already working on the text of the deal so they can move quickly if and when an agreement is mixed all of those discussions are happening with good will. >> we do have some breaking news on the president >> cnbc has just been informed that president trump will now be going to walter reed hospital, where he'll be working in the

president's medical quarters and will be conducting business from there. we had some indications that there might be some movement we had gotten word that the president has a low grade fever and throughout the day doctors have been monitoring him a short time ago from the president's doctor we got this information following pcr confirmation, in other words, following the note that the president had been diagnosed with covid-19. as a precautionary measure, he received a single 8 gram dose of the regeneron antibody cocktail and completed that infusion without incident in addition to that, the president had been taken zinc, melatonin and an aspirin now the president is going to be

taken to walter reed hospital. he'll be conducting business there. this is as a precautionary measure so he can be monitored more closely >> reporter: if they're moving the president to walter reed, that indicates there's a significant medical concern here they do have sophisticated medical facilities at the white house that can handle just about any situation at the white house proper clearly if there's a movement, that would indicate some concern on the part of the white house physician's office that there are procedures they need to put in place that they can't necessarily do at the white house itself that is something we're going to want to learn a lot more about they have a fantastic white house medical team on the ground i have seen them personally responding to medical emergencies on the ground there. they have all the bells and whistles, all the emergency equipment you can imagine. that said, walter reed has a lot more this is an indication that there's a significant amount of

work they'd like to do they can't do on the campus itself. >> this is from the reporting of nbc news the president is going to walter reed hospital tonight as a precautionary measure after consulting with his physicians remember, at the end of this letter or memo that his doctor put out, he said this. the first lady melania trump remains well with only mild cough and headaches, as the remainder of the family are well and tested negative. he said the president is being evaluated by a team of experts and together we'll be making recommendations to the president and first lady with regard to the next steps well, now we have the next step. he's going to be there at walter reed to work out of the presidential offices there have been for many years offices set aside for the president at walter reed medical center in the event that any president needed to be evaluated or looked at more closely by doctors than was possible at the

white house. so the president has had working quarters at walter reed for quite some time. the reporting of nbc news is he will be there for, antidepressant quote, the next f few days he is expected to walk out of the white house and board marine one in just a few minutes. the symptoms are still mild. he's said to be in good spirits and doing well this was the recommendation of the doctors. you may notice we've been having this particular shot of the white house up soon screen. there's another shot of the white house that is a camera inside of the historic hotel across the street whose motto is "we don't overlook anything but the white house. if you have that shot and can put it up, i'll show you what we're expecting to happen in just a few minutes the president is expected to walk out of the white house on his own and walk over to marine

one, which will take him to walter reed medical center this is that shot from the hotel. we have this shot up so we'd be able to see the hospitals coming in to transport the president. this is not to say that the president's condition has deteriorated to any great degree at all that is not what we're reporting. what we are reporting is that the president has a low-grade temperature, according to nbc news sources according to his doctor, the president is fatigued and in good spirits, but they want to monitor him more this afternoon maybe an hour ago we got this note from the doctors. they said we'll be making decisions about what happens next the president will fly over to walter reed. that takes just a few minutes. we have a shot at walter reed hospital as well from the medical center there our station wrc in washington has their chopper up and we have

pictures from the hospital where the president will be going. i mentioned those quarters where the president worked there they're always set aside for his use. i don't remember in the last 25 years any president being taken to the hospital in this way. but there was the time not so long ago when the president, the word from the medical team was the president was beginning a physical and he was taken to walter reed, but that really didn't add up, because physicals can be done at the white house i want to know particularly if you had any more reporting on that this is from the press secretary cay l quoting now, the president remains in good spirits, has mild symptoms and has been working throughout the day out of abundance of caution and the recommendations of his physicians and medical experts, the president will be working from the presidential offices at

walter reed for the next few days president trump appreciates the outpouring of support for both he, it reads here, and the first lady again, that's from the white house press secretary. some dramatic developments and certainly cause for paying attention. but every indication is that the president is going there for monitoring, that he'll be working there so doctors can take a closer look at him. >> that reporting that the president will be walking out of the white house into marine one is an important piece of information for us that gives us a sense that the president's condition is ambulatory you're looking at the south lawn of the white house that is the truman balcony in between that fountain there and the truman balcony is where they land marine one for presidential travel. we obviously don't see a helicopter in that picture, so they are not ready to make that move yet. >> we actually do have pictures of that now.

marine one is coming into the white house as we speak. we do have another camera with pictured of this marine one is on approach now. that was marine one flying over there. in just a moment the president will go to marine one for that short trip over to walter reed it is an extraordinary turn of events over the past 24 hours, actually less than that. keep in mind it was last night during the 8:00 hour on the east coast when we learned that hope hicks had tested positive for coronavir coronavirus. hope hicks worked for the first lady before she was the first lady in her busy, then worked at the campaign, then at the white

house, then went over to news corp to work in public relations and now is back at the white house. she is one of the president's most trusted advisors and they spent a lot of time together we all know the president doesn't wear masks that often. when we heard that hope hicks tested positive for covid-19, there was a bit of concern the president went on hannity on fox news to talk about it. he said, she's young and i'm not too worried about her. but immediately there were tests done on the president and all those who had been around hope hicks. it was shortly after midnight last night that word leaked that the president had tested positive, as had the first lady. that was about all the information we got in the early morning hours. it was stunning here on the east coast to wake up to a series of alerts to learn that the president has this disease, especially given that we all know the president has these two

comorbidities. 74 years old means he's in a high-risk age group. and clinically he is obese given his height and weight and body mass those are strikes against you. those have the doctors paying much closer attention when patients in those two categories test positive for covid-19 so they began testing all around him. we learned that mike lee, the republican from utah, had tested positive as well and we learned that the president of the university of notre dame tested positive we know all of them were at the event for amy coney barrett's nomination to the supreme court saturday at the white house. there is video of mike lee hugging a number of people there and not wearing masks, no social distancing at all. and now as we go back to try to put together with contact tracing and the rest to figure out where this came from, it's certainly within the realm of possibilities that that could have been the place, though we

have no reporting to indicate it with any certitude at any rate, that was between 12 and 1:00 this morning. now here we are at 5:24 in the afternoon and we're gone from the president, perfectly healthy after a raucous and enthusiastic debate, no matter how you thought of it it was certainly that, and broke all the rules of that debate. the president was in great spirits at the time and he certainly did not appear to be fatigued in any way, by any stretch of the imagination now we know that throughout the day he's had a low-grade temperature, that he has been fatigued sources told nbc news just yesterday that the president's voice was raspy and that he was tierd yesterda tired yesterday. this sort of its with the progression of the early-stage symptoms of covid-19 some people get those symptoms,

a raspy voice, fatigue, and that's all that ever happens some people get much sicker. there's no way to know who's going to get sicker and who's not. we know people in those high-risk categories are more vulnerable the president is in two of those high-risk categories it's our understanding that the president will walk out of the would say white house on his own, by his own accord from marine one he will go to walter reed medical center and he will work there over the next few days while being closely monitored by his doctors these are all the official releases from the white house. frankly we don't have reporting past that. i can tell you that a number of other people who have been around the president over the last few days have been tested mike lee, a republican of utah, has tested positive. many had tested negative the vice president mike pence and his wife tested negative

his opponent in the upcoming election, former vice president joe biden and his wife dr. jill biden both tested negative just a short time ago at a campaign rally the former vice president wished the current president all the best, but then did say this is a signal that we need to follow the guidelines set forth by the cdc under the guidelines of the cdc, anyone who tests positive must be quarantined for at least ten days, ten days or three days after the final symptoms and temperature returns to normal, whichever is longer. so the president will need to be isolated for a period of time now, which calls into question a number of things the first questions were, would the campaigning continue on the part of the president? we've been tracking the two different strategies that the two different campaigns have been taking. vice president biden largely doing virtual events the vice president on one particular day paying respects

to the late justice ruth bader ginsburg while president trump was on the road campaigning. it had been a stark difference in the two campaign styles and the question was, you know, which one of these styles would end up working in the end. today we learned as a result of this positive outcome of the test for covid-19 that the president will be postponing or moving to virtual all of the previously-announced campaign events one of those would have been an event in wisconsin this weekend, one of those large rallies we've become accustomed to seeing. that rally, the in-person rally has been cancelled the president will not be going to that or anything like it, at least in the near future the president is about to leave the white house and be taken by marine one, which has just

landed here, over to walter reed medical center, where doctors will monitor him over the next few days and the president will continue to work there we heard from a number of people today who said they spoke with the president. among them, mitch mcconnell, the majority leader in the senate, said that he had spoken with him. in addition, lindsey graham, the republican senator of south carolina and close confidant of the president had spoken with him and said he was in good spirits, said they had talked business this morning and the president was doing well later in the day we found out he'd been running this low-grade temperature, which is a sign of one of the symptoms of this. then we got the release from the white house that he had been given this regeneron antibody cocktail, which was surprising to some because it had not been to phase three trials, hasn't

been proven to be effective and safe, but he completed that without incident in addition he had taking zinc, vitamin c and a daily aspirin. they've been very clear that the president and first lady seem to be on diverging courses in the early going here the first lady said to be doing well, a mild cough and a headache, but those are the only symptoms that have been reported to us for the first lady the remainder of the first family said to be doing well and negative ivanka, the president's daughter, tested negative. the president and the first lady's son baron trump tested negative the vice president and his wife, the former vice president and his wife all negative. then many ofhe