♪ ♪ the expertise that helps keep hospitals clean, is helping keep businesses clean too. look for the ecolab science certified seal. good afternoon, everyone welcome to "power lunch. playing a home game today. the markets are higher across the board as wall street is still hopeful a stimulus deal will get done and that president

trump's health condition seems to be improving following what by many reports was a bit of a rocky weekend. and part of that improvement is thanks to an experimental treatment from regeneron shares of that company are up 7% we'll look at the stocks behind the president's battle of coronavirus. and later, fears of a second wave sweeping the world. what does it mean for economic recovery here in the u.s. and around the globe "power lunch" starts right now at thtyler, thanks. there is hope the president will be discharged soon and a stimulus deal will get done eventually first we start with tkayla

tausche tracking the president >> we have been waiting for several hours for an update on the president's condition, whic we still have not received here you're looking at the scene right outside walter reed where we will take you later this afternoon. meanwhile, the cluster of cases at the white house is growingpress secretary kayleigh mcenany stating after testing negative sentconsistently, incln every day including friday, i tested positive this morning while experiencing no symptoms mcenany has briefed the press regularly in the last five days as the white house covid cluster

grew, including as late as yesterday evening. the list now include's the president's body man and two staffers working in the residence, that received positive tests weeks ago, raising questions about when it first entered the white house complex. advisers on hand including kellyanne conway, chris harper mercer a-- chris christie and he said in terms of rudy giuliani, he does not have the virus now back to you. >> i'm also curious if the press itself will have to quarantine as a result of this. >> well, there were already some concerns among the press, especially the press who are part of the rotating pool, which

sort of serves to track the president's movements and be the broader press corps' eyes and ears on the grounds at some events where everybody cannot be present, especially during this covid era. in the wake of the correspondents association announcing on friday that there were three positive cases among the press corps, there have been many who have chosen to not go to work at the white house complex and there are a lot of people who were in contact with some of those journalists who are choosing to quarantine themselves for many of those organizations whose job as part of that rotating pool are to chronicle the whereabouts and comings and goings of the president, they doesn't have the option to phone it in so we appreciate they continuing to be there in person >> kayla tausche

tyler. are the markets right here is a stimulus coming any day now? ylan mui joins us. >> there is a lot of talking happening but not decisions just yet. her office said they discussed justifications for various numbers and plan to exchange paper today in reparation today for another phone call tomorrow. there had been some speculation after president donald trump revealed his diagnosis over whether he would feel well enough to call the shots here and take an active role in these discussions. the white house is doing its best to tamp down that narrative by releasing some videos and photos of the president working at walter reed the president himself tweeted from the hospital over the weekend saying "our great usa wants and needs stimulus, work together and get it done." the challenge is the calendar.

the senate is out of session until october 19th, the house is out until after the election and even though, guys, leader says they can call members back for important votes at any time, the outbreak of covid at the capitol is going to make that a lot more complicated back over to you >> so the time line looks like they're going to exchange pro proposals later today, maybe talk is the president's illness helpful in terms of a stimulus package or a none starter? >> reporter: it difficult to say. nancy pelosi says she hopes this is a wake-up call to understand the seriousness and the need for more money on the other hand we had chief of staff today, when he spoke to the president, the president was focused on fiscal

responsibility i think ultimately it's going to come down to the president, as it so often does and what he is willing to accept and then what he is willing and able to sell to the republican caucus in the senate we know there have been conversations between the administration and the senate republicans as recently as this weekend over what could be possible, so it seems like there's some optimism on that front that all three sides could get on the same page >> well, as always, you understood my clumsily put point exactly as i intended it ylan mui, thank you very much. >> let's go to bob pisani now. the dow hanging on to a pretty nice gain this afternoon >> three to one advancing. there's talk about maybe less chances of a contested election and more certainty postelection.

i think that matters a lot whenever you get semiconductors and energy advancing, that's sickcyclicals moving here. the travel stocks are down so the reopening story, the traveling story not very good today. staples are also lagging i'm optimistic because we're entering earnings season and the numbers are excellent. we've had a small group of companies that have already reported 18 of them. 17 of them beat by very wide margins. the average beat of these 18, 27%normally they beat by 3, 4, 5, 6%. 16 of the 18 are having their estimates raised in the fourth quarter. if that continues, definitely that's supportive for the overall market it all depends on the reopening story. some are hopeful more stimulus will come and we'll have more

rotation, well, maybe. i don't see it the small caps are flattish, s&p not doing anything, value, growth not doing much. there's nothing outperforming here what's doing well? i call it the do-nothing investment the s&p 500 is right in the middle of its range it's been 3,200, up to 3,600 and it 3,400 roughly right now. bottom line, tyler, is sitting there holding the s&p 500 is probably the best move you could have made in the last couple of months at thtyler? >> thank you very much, bob pisani the fear index, also known as the vix has been jumping in the past week as investors bet on more volatility with the election just four weeks away. what are the biggest risks to the markets and what's being priced in right now? let's bring in brin talkington and michael farr, a cnbc

contributor. welcome to both of you i note in my notes that one of the things you've been watching has been fun flows, name live flows out of equity and into bonds and what does that tell you and what does that incline you to do? >> well, thanks, at th thanks, . it's a good contrarian indicator. if you go back to january of 2018, you've seen almost 350 billion of net equity outflows and while on the flip side you've seen a huge flow, 750 billion into fixed income. this market continues to be a market where investors in general are underinvested. anecdotally i think it's a very good contrarian indicator that there's still so many people on the side and to us the biggest risk in the market today from an asset allocation is sitting in low yielding fixed income where

investors are going to grow slowly because there's no yield there. we think longer term that trajectory that will push clients in equities is definitely bullish >> michael, let me turn to you and talk about some of the more approximate causes of today's move in stocks and the moves over recent days in the last week alone, we have had a debate that most people would say was untidy to put it charitably we've had some economic numbers that were ambiguous at best and now the president is ill and yet stocks keep rising and rising and rising why? and we have no stimulus package. >> and we have no stimulus package, but we might be getting closer when we looked to the weekend, i was a bit surprised to see this rally today because of the president's health and that threat to the disruption of the executive branch and then we were seemingly further from a stimulus package

and then we saw joe biden's numbers jump in the polls and joe biden has been seen as an ant ant a anti, non-friendly wall street guy. somehow wall street is on a rally today, back up above 28,000 wall street is voting and telling you they're not really worried about a biden campaign, about a biden presidency and victory. that's not a political comment, tyler. that's just what wall street is saying i was expecting to see stocks down a thousand points today over fear of biden i think it does get us closer to a stimulus package when jay powell says he really needs it, he's not being political either i think probably a number of things are happening, chief of which is wall street says they can deal with pretty much whatever outcome comes and i think you have to listen to my

fellow guest and say your probably greatest risk right now is being underinvested because the path of least resistance looks to be higher >> bryn, do you ever see it as michael does, in other words, that mr. biden's rise in the polls is being discounted by the markets, the markets don't seem to be overly concerned about it and that it looks like sort of green lights ahead and if that's the case, which sectors of the market might benefit the most under a biden win and suffer the most? >> well, i think that, you know, the market definitely is not going to want a contested le election so where biden has a lead apparently right now if you look at the various polls, that's giving the market clarity. i will say also, though, i think that the market is looking at maybe we have more gridlock where the senate doesn't flip and the senate stays republican

and i think that's really an important narrative. going forward biden's plans are incredible tax and proposals that he has. one can't tax their way to prosperity so i think the market would be voting for gridlock. that being said, i think to your questions about what sectors will do well, i think it's tough when it depends on what happens in the senate. looking at biden's plans on the surface without going into what happens in the senate, i think it's tough for energy, it's tough for financials because you're going to more regulation and it's tough for technical have i becau - technology because of the increased corporate tax and increased minimum income tax, they're all headwinds to companies. so my thinking is we'll have gridlock if biden wins the election >> interesting and sophisticated

point there. michael, i'm going to let you react to what bryn said. i also want to hear you said that the market does not seem overly concerned about the president's health situation, but a lot has been built into the idea that he's going to get out later today. if he doesn't, how will the market react tomorrow? >> first my reaction to bryn she's always brilliant i love listening to bryn so this is a treat to be on with her i think clearly the market's priced in a recovery for president donald trump and a continuation of his duties and his ability to execute his duties as president. if that changes, markets aren't ready for that and markets don't like to be surprised so i would certainly expect markets to sell off and perhaps somewhat substantially should the president's health deteriorate >> all right, michael, bryn,

thank you very we appreciate your time today. we'll see you again soon >> thanks, tyler >> kelly >> tyler, thank you. coming up, four of the biggest tech giants under threat of heavy regulation from the government as an anti-trust investigation from the government could drop this way plus tech is having its best day in three weeks we have more detailsnd m auch more "power lunch" right after this quick break stay with us you can't predict the future. but a resilient business can be ready for it.

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welcome back, everybody. shares of regeneral rj regenero are higher today as those are the drugs being used to treat the president. let's bring in meg now for more. >> hey, tyler, very eager to hear from the president's doctors. they said he could be sent back to the white house to continue treatment as early as today. he's on three prescription drugs in addition to over-the-counter medicines. the first was a an experimental regeneron medication that he's been taking. friday he was to start the five-day course of remdesivir and saturday he started

dexamethasone. that's for severe patients with covid-19 we learned the president's oxygen levels dropped low enough twice in the last few days that he would be characterized as severe, 94% or lower that's the nih guidelines. starting with the experimental anti-body cocktail from regeneron, we just saw the clinical trial results tuesday but it showed in that trial of non-hospitalized to reduce viral levels and improve symptoms. remdesivir shortened days from 15 to 11 and they found in the trial there could be possible harm in using the drug on patients who aren't far enough

long to require respiratory support. >> as you said, meg, the oxygen level below 94% suggests that his symptoms at the very least and perhaps the virus were more serious than just a mild case that might not have required those more powerful drugs. the cdc, meg, updating some guidelines about how the virus spreads. what can you tell us >> the cdc is now saying that there is some risk of spread of the virus through the air, airborne transmission. the most common way they still say that it spreads is through close contact and respiratory droplets but they have updated their guidance to say in some situations, they have found it possible for people to become infected even if they're not as close as six feet to another person and this was guidance that they had put up on their

web site a little white back and then taken down and now they put it back up again it doesn't change the understanding of this disease. experts were saying this should have been the guidance all along as more has come to be understood about this disease but in this moment when we are watching so many people in the president's orbit get diagnosed with this disease, this widens the net for contact tracing because we know now you can catch it if you're further than six feet away. >> i'll pick it up, meg. thank you so much, meg tirrell, we appreciate it very much regeneron and gilead are both in the spot lights following their roles in the president's treatment. for more of what this means for stocks, let's bring in michael ye it's always good to see you. i've heard a few others float

that maybe the president goes easier in terms of drug pricing from here on out if he is re-elect re-elected >> great to be here with you i agree. i certainly think if you look back at the last six months there has been an increased pressure on these companies with executive orders of kocourse and the democratic campaign as well, a lot of mustering about drug pricing since it appeals so much to vote percent. i think in the short term you're likely to see less criticism of these companies until this calms down a bit and let's see what happens with the election with vaccines as well, also a bit of a temporary until we talk about 2021 >> would regeneron and gilead be two of the yoyour investment recommendations or are others better positioned? >> we agree with that. key for us is talking about companies with treatments or vaccine but have a whole breadth of additional pipeline behind

it regeneron receiving a nice move on their treatment opportunity on the data that meg referred to but certainly these companies emphasize, as well moderna, a whole host of vaccines probably going to see a bump up in the vaccine stocks and will turn against the election which is a whole other swing fact on this market and these stocks >> a lot of us are thinking about the vaccine now, not at a one-off binary event where it's all right, this vaccine works and it's getting out there in the market and the pandemic's over, you realize it's going to first be phased out to those front line workers, it going to take time for it to be available for the rest of the population and the population to trust it for investors would you also say maybe it's not such a binary

event or could we still see big moves based on who's able to come out and say the advancine works, it's ready to hit the market >> i think for the next three to six months you're going to see a lot of volatility first with the move up in a lot of these vaccine stocks, first a derisking event. these stacks are down 20, 30% since the summer i do think the second wave phase with these vaccine stocks and probably with biotech as well, differentiation as whether the moderna dwrata is better than te pfizer data. i'm selling i think it would be better than the astrazeneca d a data, which hasn't been resumed in the united states we'll get a third wave where

merck and astrazeneca have a one-injection and others >> michael yee, thank you, sir tyler? >> still ahead, folks, energy leading the way. check out the rally in oil it is up 5%. we'll have more on what is driving that particular move plus oppenheimer out with a new note today on starbucks staying wall street is overlooking a rebound in sales and to pbuy th stock. we've got those details right after this break and a double shot off espresso.

lunch. bull calls on two different coffee giants. oppenheimer naming starbucks a buy for potential buying power todd gordon of trading analysis, chad morganladder. of the two names, chad, i believe you are sticking with starbucks. how much of its growth over the

next three to five years is dependent on growth outside the u.s. >> well, roughly about 30% of star bucks' revenues are outside the u.s., in particular the emerging markets is where you have to focus your attention we believe china will in 2021 be growing and be the major growth engine for starbucks overall we owner this in our rising dividend portfolio, and it has the investor profile we like where it's consistently grown and consistently profitable it has the financial flexibility on its balance sheet it's been extraordinarily nimble in this times of covid, has reduced a tremendous amount of friction in getting their product to the consumer we would be investing for this

three-to-five-year time horizon. >> they recently raised its dividend what do you with a stock that has already had a pretty good run this year? >> i'm bullish on the name and i've held it for two years since the mid 60s and i added some today to my position from a technical point of view, we've been caught below this downturn and if we can break out, we should be able to get to the 101 price target the oppenheimer report was interesting. they said they have strong earnings power on the back of the recovery from coronavirus, same-store sales only down 11% year over year starbucks has done a great job embracing the drive-through, curbside pick up, minimizing the human contact in the stores and the loyalty program is boosting their sales. on the back of a full recovery, their margins will improve, their profits will improve and they just increased their

dividend by 10% to 45 cents a share so i'm bullish on the name >> trading at $88 a share. back to you. >> thank you very much ahead on power lunch, second wave risks would another economic shutdown be the finishing blow for struggling retailers plus the nfl holding meetings with all teams will the bubble hold until the end of the season. and the trump administration takes aim at google. we'll talk about which stocks are most at risk next. >> announcer: and now the latest from trading nation.cnbc.com and a word from our sponsor. generally speaking, a strong dollar is good for the economy but that doesn't mean all companies will benefit equally

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welcome back, everybody. i'm sue herera here's your cnbc news update at this hour. in texas, another call from within the republican party for state attorney general ken paxton to resign representative chip roy says paxton should step down after his own deputies reported him for bribery and abuse of office. he's used to be the top assistant in the attorney general's office in moscow the government has turned a convention center and a sports arena into covid-19 hospitals. new cases in russia are surging with the daily total going above 10,000 for the first time since mid may. in france are deaths from covid-19 are on the rise and the number of coronavirus patients in intensive care units jumped to the highest level in more than four months and in new york city, two window washers had to be rescued. take a look at that.

after their scaffolding collapsed. they were outside the 26th floor of a high rise in lower manhattan. neither requested medical attention, although those who witnessed it might have needed medical attention. pretty dramatic video there. guys, you're up to date. ty, back to you. >> that would be a job i would just never be able to do that or working up on steel structures or on bridges and so forth. i don't like heights didn't like the grand canyon because of it. >> especially 26 floors up >> they did have safety harnesses on but nonetheless, they were dangling at one point and it was really frightening. >> the grand canyon was beautiful but i didn't want to look down. the dow has been up more than 300 point for much of the day. it's 365 now the s&p 500 is up 46 nasdaq up 187. and what's happening with oil?

well, it is bouncing back big time after a very soggy week last week. dominic chu has the closing numbers. >> let's look at those prices. it's very much in the green. u.s. benchmark crude cries, 39.29. 6% gains over the levels of the day. 5.5% gains energy stocks the best performing sector in the s&p up 2.25%. i'll get to why natural gas prices futures are up about 7, l 8% at this point here. the big headlines on energy include president donald trump's positive health prognosis, health insuran that's helping to guide the narrative and there's a worker strike out there, and believe it or not, we're still in hurricane season tropical storm delta has formed in the caribbean sea

it could move its way by the end of this week and become a hurricane soon it could threaten natural gas. that's why futures are up. and hal burton, occidental pet troll, valero energy and early in the pandemic, we saw a gap between energy and the s&p 500, it's only gotten bigger. it still a trade we're watching. the s&p energy sector is down 50% so far in 2020 back over to you >> dom, thank you very we appreciate it covid-19 infections are rising across the world paris closing bars, madrid starting a partial lockdown and new york city's mayor is trying to target neighborhoods where cases are spiking. is this all the beginning of a second wave?

ste steve liesman is looking at that steve? >> reporter: they are trying to figure out how a second wave will affect the u.s. economics oxford economics expects a 15% probability of a renewed outbreak and shutdown from premature easing and a 25% probability of a second wave by itself so it's a 40% chance one way or another, which could lead to renewed shutdowns. but there may not be the political will for widespread government-ordered shutdowns even in new york city mayor bill de blasio tried to hold the line in response to an outbreak, imposing shut downs by zip code. when cases spiked in washington, open table restaurant reservations plunged after recovering strongly. that's a voluntary act by people

decides not to go to restaurants. every 10,000 cases could boost the unemployment case before half a point another big factor, an outbreak could also push some businesses over the edge that have been able to hold out to this point kelly, they may not be able to hold on much longer. >> yeah, steve, i do wonder how much of this kcomes down to the policy response, versus people choosing to stay away from businesses as we saw the lockdown, that's what sent the economy down 40% >> you know, kelly, i think it's a combination of people making decisions on their own and government shutdown. if you look at it, i don't think there's any restrictions on flying, but people weren't flying that's a voluntary choice people are making. can you see from that chart from wisconsin, that's a decision by people not to go to restaurants. so, yes, there are government shutdowns but in some cases,

kelly, you know, the government does people a favor by choosing for them what it is they probably should not be doing anyway >> or like we've said with movie theaters, people can make that choice on their own as well. steve, thank you we're going to leave it there. steve liesman. ty >> the president has just tweeted he will be leaving walter reed military medical center sometime around 6 p.m. this evening there is the tweet "i will be leaving the great walter reed medical center today at 6:30 p.m., don't be afraid of covid, don't let it dominate your life, we have developed some really great drugs and knowledge. i feel better than i did 20 years ago. steroids i might add sometimes will do that to you. we're glad to hear he's feeling better and stronger and he's a man of incredible stamina and

energy and he is leaving walter reed tonight at 6:30 p.m there is the latest news from a very active donald trump today who has been tweeting a lot throughout the day, coming back and showing that he is back in fighting form. we now have eamon with us to tell us a little bit more about this and the president's return it would seem, to feeling himself again, for which we can all be grateful. >> reporter: yeah, tyler, this comes as a surprise. we were told that the white house medical team would be briefing reporters at the top of the hour, 3 p.m. on the east coast. now just a little bit more than 15 minutes before that the president issuing this tweet suggesting he is ready to leave walter reed this evening, he's feeling much better and ready to go back to the white house remember what white house doctors said yesterday about this is not that he would be cured and discharged in the typical way you think of being

discharged from the hospital they described it very much as the president returning to the white house to continue his treatment. this tweet, though, does not suggest that he is continuing treatment. this is very much a tweet of a person who says he feels very much better and says he does not want other americans to worry about the coronavirus. also the president here within the past couple of minutes issuing a tweet to defend himself for that ride that he took driven by the secret service in a secure vehicle out in front of walter reed just around the corner from where i'm standing here yesterday to greet his supporters, who had gathered along the front gate of walter reed hospital, waving trump flags, waving american flags the president went out to greet them in a sort of slow roll by the president says it's reported that the media is upset because i got into a secure vehicle to say thank you to the many fans and supporters stand being outside of the hospital for many hours, even days to pay their respects if i didn't do it, the media

would say i was rude the president shrugging off concerns that have been expressed by some in the medical profession and elsewhere that he put secret service members inside the vehicle with him at risk, exposing them to coronavirus simply to go and wave at his supporters the president saying he would have been deemed rude if he hadn't have done that. this is a president who is feeling feisty, feeling ready to going back to the hospital and back to the white house and presumably that means back to work, tyler. >> no, absolutely. and you know and i know and we all know that anything a president does is put under a very sharp light and a microscope and no more so than under this president, president donald trump everything he seems to do is questioned by the media and he in some cases i think has invited that upon himself so he's defending himself for the little trip he took yesterday and in his text today, which will be taken apart letter by letter by the media, he says

don't worry about covid, go ahead and live your life, you can bet that there will be critics who will say that that continues a rather cavalier attitude that the president has had with respect to taking precautions about covid and certainly we've now seen even his press secretary has announced that she has come down with it. i speak of that and also the idea and i said it at the beginning of this, the drug dexamethasone can give a sense of euphoria and strength because of the nature of the drug so he's feeling pretty good because of the cocktails he's had. >> we have to match up whether or not the president's doctors feel the same way the way the president does we should hear from them momentarily. that should be a fascinating dichotomy if there is one. the critics will point out that

the president has been given medical treatment the likes of which is simply not available to average americans. he's been receiving experimental drugs, medevaced by helicopter to one of the best hospitals in the world, has his own private team of doctors, his own suite of rooms at walter reed. so there are those who will look at his statement that you should not be afraid of covid and look at that askance given that he has spent a number of days in the hospital getting treatment the likes of which a lot of americans will never see >> and as meg pointed out earlier today, he's received several drugs that are generally prescribed for people's whose condition is regarded -- or virus is regarded as severe, as his was when his blood saturation levels dipped below

94 i wonder what the white house is going to be like when he returns there and what the protocols will be like within the west wing, within the white house, as quite a few of his closest, including his body man, including his press secretary have been diagnosed now as positive tests will the white house function in any sort of normal way will there be more masks seen around the west wing what do we think >> well, it's to be determined, right? but what's clear right now, tyler, is this virus is rampaging through the white house staff. kayleigh mcenany announcing earlier today she tested positive the white house is not going to tell us how many members of the secret service have tested positive or are in isolation or are quarantining we don't know about the valets,

the butlers, the drivers, the staff inside the white house residence. the first lady is still suffering from the coronavirus and in isolation inside the white house residence. we don't know about, for example, the marine one pilots to flew the president here on friday and who presumably now perhaps a different set of pilots will fly him back from the hospital this afternoon. those people may have to be quarantined for an indefinite period of time reporters have already been operating on a scaled down basis at the white house you would imagine now with i believe three current cases among reporters and a number of other reporters awaiting tests that are pending, you would imagine now that the media presence at the white house will be stripped down even further than what it has been. so this is a white house that is not going to be able to resume, quote unquote, normal operations any time soon. they will be able to engage in the people's business and will be able to continue to govern the country, but it's going to be a much different feel at the white house in the days and

weeks to come i believe, tyler >> and we have to wrap it here but i would assume there are a legitimate national security reasons maybe for not oversharing information about how many and who have contracted the disease in the white house that could be information that would be valuable to an adversary under certain circumstances i suppose, so i get the idea that these may be -- not to mention matters of -- matters of personal privacy. go ahead >> in terms of the secret service, yes there is a real argument to that effect if there is a weak point, you don't want to advertise what it is with the press people giving an aggregate number, we can get a number of white house aides without interfering into anybody's security or privacy. they simply don't want to do that at this point they have not told us when the president's last negative test was. there's a lot of information

here the wous could phite houset out, but is choosing not to. >> thank you very much you'll be on the story for the rest of the day in front of walter reed. we'll take a quick break and bring it home here after we return with more "power lunch. diane retired and opened that pottery studio. how did you come up with all these backstories? i got help from a pro. my financial professional explained to me all the ways nationwide can help protect financial futures in peytonville. nationwide can help the greens get lifetime income because their son kyle is moving back home and could help set up a financial plan for mrs. garcia. and he explained how nationwide can help mr. paisley retire early and spend more time with his pal, peyton. and their new band. exactly! yeah. don't forget the band. i haven't.

welcome back, everybody. fears of a second wave of virus putting industries like retail back at risk before they've even

had a chance to fully recover. bankrupt retailers alone have closed around 6,000 stores this year, and the final tally this year could be -- probably will be much, much higher so how important is stimulus for the holiday shopping season? let's bring in our friend stacy woodlets stacy, always great to see you let me talk -- before we get to stimulus, let's talk about a couple of things that have happened today and what you think the effect will be on malls and i'm thinking specifically on the cinema business shutting down because an awful lot of stores and malls that went out of business converted to theaters. >> good to see you, tyler, and that's really -- that story of today says it all which is that the malls have been going after experience, and you look at the movie theater industry, and they're shutting down screens in the u.s. because all of blockbuster movies are being pushed back. it shows you that everything to

do with experience in the mall is at risk, and just to give you an idea, even simon malls, 20% of their malls have movie theaters that won't move the financial needle what it does is it moves the traffic needle that brings traffic into the mall for food and shopping and everything else. so it's a big issue here, and an issue that needs stimulus. >> i think of a mall in our area that has been absolutely snake bit, and that's the american dream mall next to giant stadium or what's now known as metlife stadium. that is all built around skiing. indoor skiing and roller coasters i can't imagine when that's going to come back to business let's talk about the need for stimulus and whether that -- whether if we get it, it's going to make for a much better christmas shopping season if we don't get it, how much worse will it be >> well, i hope president trump is welcomed back into the white

house with a stimulus package because it does make a difference and we do need it we hear all about walmart and target, home depot and all the big guys they're doing fine, right? we all know that it's the guys in the middle and the small business guys and as we talked about, it's the restaurants that drive traffic into retail that need the help here that really operate on a four to six-week shoestring. so it's a big problem when you have, you know, like you were saying the american dream mall more than half of your exposure in experience. so, you know, i think any retailer has told us in the last six months that when the stimulus hit, they saw an immediate impact so it does make a difference, and we do need it for holiday. >> is black friday dead? >> finally i think black friday is a thing of the past. so i think here's what's going on is that prime day is now in the middle of october, next week so now we're going to see all the retailers start their black

friday promotions. middle of october and it's just going to be the creep right past holiday -- sorry right past halloween into holiday. i guess the good news is that stores won't be packed people will be safe, but the bad news is that all this business, where a lot of it goes online, and so many retailers have had their exposure double online, so what happens to the physical that's where we really need support and help is in the physical >> stacey, always great to see you. great to talk with you thank you for being with us today. >> thank you, tyler. >> see you soon. you bet. kelly? >> tyler, thank you. this afternoon, roger goodell, nfl owners, coaches and general managers are holding a mandatory conference call to address the recent positive tests around the league the message is expected to be the protocols aren't failing people are eric gemmy has the details eric >> reporter: kelly, there will be a lot to talk about on that call today after the nfl had to reschedule

its second game after patriots quarterback cam newton tested positive, league officials tell me the call was scheduled on friday with a focus on requirements and accountability, it's expected the nfl will also detail specific penalties for players and teams that failed to follow protocols the patriots are now scheduled to play the chiefs tonight both teams had at least one positive test last week, but none in recent days. meanwhile, case counts keep growing for the tennessee titans at least 20 players and staffers have tested positive the titans are scheduled to play the buffalo bills on sunday, but it's now clear that game won't happen either. league insiders have said the titans' situation is not about the protocols failing, but about people failing to follow the protocols. other pointed to the fact that 40% of teams have had some kind of positive result, but the good news is that only this one team saw a true outbreak, and separately more stadiums, they're starting to gradually

open up for more fans. kelly, back to you. >> still, eric, it makes for a contrast with the nba anden i n and there's been success with the bubble situation compared to what baseball and football are experiencing i guess they'll tough it out there. there's a lot of money riding on these games. a lot of viewership too. >> reporter: yeah. the bubbles -- i mean, the bubbles could work as they're ending those seasons they don't have 15 fields in the same place they can play football games at the same timesy mull t-- simultaneously. >> that's right. easy when you have a basketball court or two thank you, eric chemi. the president says he's leaving walter reed tonight, but the dow is up 387 points right now. >> he is his own press secretary, and his own

communications operation, and in his inevitable way, he's saying i'm out of here at 6:30. the dow is up about 300 points, 3.4%, and you see it 400 now do i hear 500? we'll see in the next hour when "closing bell" starts off. nasdaq, the s&p up 1.4%. kelly, we'll see you tomorrow. >> good stuff. thank you, sir >> "closing bell" right now. kelly and tyler, thank you welcome to a busy "closing bell." i'm sara eisen here with wilfred frost. we have a flurry of headlines this week surrounding the president's health the nasdaq leading as we head into the time hour of trade. still focused on the president and the coronavirus. the president tweeting moments ago that he will be leaving walter reed medical center at 6:30 p.m. eastern today. we're expecting an update from the president'