kayla tausche in washington. let's take a look at the market reaction tech and semiconductors seeing strength as the china trade deal remains intact and the possibility that things could change is weighing on one top strategist j.p. morgan's michael kolonivch, says a breakdown of supply chain and international trade between the u.s. and china would justify equities trading drastically lower. more broadly than trade this sort of ramping tensions between the u.s. and china which could result in domestic chinese consumers not buying american product, tim >> i think, first of all, you have to give marco, a lot of credit j.p. morgan's team has had a sensible call where they've looked at market factors and they've looked at ownership and momentum and they've started to look at fundamentals and marco and team saying hey, not as boyant of a return to work as the economy. the word of the day yesterday was bluster and look, on china trade policy, bluster is certainly the need on both sides. remember, there's a lot of postu

. - ( phone ringing ) - get details on this state program call or visit washington kayla tausche has details. >>> earlier this afternoon senior administration officials briefing reporters on the status of testing in this country and the efforts by the federal government to help states ramp up that testing. these officials said that we're on pace for roughly 2 million tests to be administered each week, with those tests to be hitting 10 million administered in the united states this week the administration is also sending $11 billion that was appropriated through the most recent stimulus package directly to the states. these officials said there should be a breakdown made available later in the week. but that they have distributed that based on burden and population to help some of these hard-hit populations like nursing homes ramp up their testing and try to limit this outbreak of course this news comes on a day when the white house is ramping up its own internal testing capabilities as multiple aides and staffers have tested positive for the coronavirus and we're learning from white

new sanctions out of washington and kayla tausche has the latest kayla? >> melissa, on capitol hill, the house is voting by proxy right now which means essentially that some members can vote on behalf of other members who want to be teleworking and they have just secured enough votes to pass a bill that has already been passed in the senate that would put sanctions on chinese officials for human rights violations of muslim minorities that have been encamped in china for several years at this point. this bill would then go to the president's desk once this house vote is final and melissa, it just adds to this ramping up of anti-china actions for a variety of issues the president has been presented on policy options for other sanctions on chinese officials related to its national security law that it is seeking to impose on hong kong to crack down on demonstrations there. so certainly, this is just adding to the myriad of anti-china sentiment here in washington, on both sides of the aisle and certainly this is a symbolic move on one hand and potentially cou

we have breaking news coming out of the white house kayla tausche has the details. kayla?resident trump taking questions from reporters in the cabinet room following an event with the state leadership from north dakota and colorado he was answering a question about an answer that his top infectious disease expert dr. fauci gave in testimony yesterday where he said that states that reopened too quickly would face serious consequences. president trump said that he thinks that comment was not acceptable from dr. fauci. he was also asked about companies that take loans intended for small businesses. he said if these big companies received loans and they don't give them back by a thursday deadline then trump personally will go after them he also says that he believes that fed chair jay powell is doing a better job, that his performance has improved with powell, but says they're still apart on one key issue and that is interest rates. president trump still believes, he says that the u.s. should have negative interest rates and that he hopes the fed chair will come around on that

. >>> we have breaking news out of washington kayla tausche has the latest kayla? >> melissa, president trump is taking questions from reporters after an event in the rose garden announcing the lowering of the cost of insulin for seniors under medicare part d, but president trump was asked about the economy and specifically about his actions on china in the wake of that national security law that china has introduced related to hong kong president trump said it's too early to talk about exactly what position the administration would take and how it would respond to that, but president trump saying that stay tuned for the next couple of ways and that you would hear more on that by the end of the week. >> on the economy he said that next year is going to be one of the best years ever in the economy after what he is calling this transition to greatness comes fully into fruition. he acknowledges that the data has been and will continue to be bad in the near-term, but that the third quarter and the fourth quarter will be a strong rebound, again, echoing his belief that

let's get to it, kayla tausche is live in washington with the latest kayla? >> melissa, this effort by the white house to target social media companies for a perceived bias has been under way for nearly a year, but in the wake of twitter's fact checking president trump's own tweets, policy officials rushed the executive order out today. here's what is in it which the president signed this afternoon. agencies from the fcc to the ftc and many other agencies in between are directed to review liability shields that are provided to these content companies that protect them from lawsuits over what appears on their platforms. the department of justice are directed to organize state attorneys general to enforce the crackdown. the federal government is also going to be issuing a widespread review of taxpayer dollars that are going to these platforms in terms of the government's own ad spending and all of this is expected to happen over the next 30 days. these agencies are supposed to report back and these funding totals are supposed to be submitted to the office of ma

but as we get back to work, who gets the blame if someone gets sick kayla tausche is looking at that our "states of play" survey kayla? >> hey, tyler. who shoulders that liability is one of the key questions facing lawmakers as they try to craft the next phase of congressional relief, but the answer isn't so clear cut according to our latest cnbc and change research survey conducted over the weekend in six critical battleground states. in that survey, 45% of respondents said that employees and customers should be able to sue a company if the virus spreads there. that's the position backed by democrats. 42% of respondents said businesses should be protected from lawsuits over the spread of the virus. that's the position held by most republicans. the rest of respondents say they're not quite sure who should be blamed of course, pinning the virus on a particular establishment would require large-scale contact tracing, so that people's whereabouts can be accurate tracked and americans aren't completely sold on that idea quite yet. more voters in these swing states say they're not ready t

kayla tausche, of course, reporting there on the c.a.r.e.s. act. >>> let's bring in robert her shah vec, "shark tank" investigator and ceo, good to have you back. >> thank you good morning, everyone >> i'm sure you must know who knows how many business owners who have tried to work with this program, probably have some complaints, do you thinks the issue right now is about size or oversight? >> well, first of all, that was a great report and i think there should be a special place in hell for people that are trying to take advantage of this program when so many companies are hurting. i mean i just -- i listened to that report and it just makes my blood boil that people would do that there's certainly going to be fraud in the system. whenever you try to release $2 trillion in the economy so quickly. what we're hearing from a lot of the small businesses is the lack of clarity how do i apply, who gets to apply, when does it come up, when is the next anniversary date, when do i have to pay it back a lot of that is just confusion because of speed >

kayla tausche in washington. j.p. morgan writing today as the virus risks evading globally/geopolitical fallout is a new risk and specifically, this is what he writes, for example, just today the u.s. senate passed a bill to bar chinese companies from being listed in u.s. exchanges while we have been recognizing china-u.s. tensions as a political stumbling block for the markets here, j.p. morgan is coming out saying this could be a real issue tim, i go to you in terms of the trade that we saw, can you walk us through why some got hit harder than others? >> alibaba, for instance, emerged relatively unscathed compared to a j.d. or baidu? >> yeah. because i think if you look at the disclosure and the approach that alibaba has taken to their international accounting standards, and i think they're different, and i think alibaba which traded down on the news ended up rallying back almost 2% off of the intraday lows and alibaba reports fiscal q4 this week on friday and i think those numbers will be really solid this theme ma

. >> and let's bring in kayla tausche for the latest and when we might expect that captured. and we know what's in it at this point, right >> kelly, the white house would only say that it's expected to be signed today, but they will not provide any formal details on this final copy of the eo or exactly when the president would sign it. a draft obtained by cnbc outlines a policy process for social media dictated by the white house that would see the fcc write new rules for how these platforms can remove content. the ftc take the lead on enforcing any violations and the justice department to convene a working group of attorneys general across states toisolat any incidents that are happening at the state level this is an captured that has been in the works for nearly a year at this point a senior administration official tells me that the interagency process had recently broken down, but that the president wanted to resurface this effort in the wake of an effort by twitter to begin fact checking his tweets when he was talking about mail-in ballots earlier this week. jack dorsey,

kayla tausche in washington. it's been sort of a drip, drip, drip of increasing tensions, tim.it seems like the market at a return has been sort of inured to it at this point. how much of a mistake is that in your view or should we look past this >> i think we cannot be inured if you think about what the head winds were on the trade front, this is effectively doing that and maybe and then some. the nationalization and security measures against hong kong are very significant and, remember, the hong kong protests and remember that was almost independent of trade war and what that meant and the concern around hong kong were important. you know, the fact that china scrap the their gdp forecast is kind of like the cfo in today's earnings results of any company. you know, first of all, i think that's good news i don't think it's bad news but between what's truly going on on the trade rancor and that is being ratcheted up obviously when congress is teeing up legislation against chinese companies listing here, you're seeing folks like the nasdaq being concerned and enacting more string

election will come down to a handful of states and in those states concerns of covid-19 may be fading kayla tausche joins me now kayla? >> reporter: wilf, those worries might be fading with republicans but democrats in dense cities are still highly concerned take a look at these numbers from the most recent fourth installment of the cnbc change research poll con ducked over the week it shows just 39% of republicans still have serious concerns of covid compared to 68% of total respondents and 95% of democrats and it's a significant change from the end of march when you can see that concerns converged among all three of those groups. perhaps republicans are just getting restless in this lockdown nature. when asked about freedom to move around, 33% of republicans said that that was excellent or good. compared to 55% of democrats, again, possibly because many democrats are in big cities and things are more walkable plens, that restlessness is translating of willingness to go out and do things and patronage businesses 77% of republicans said they'd go to a salon. 37% sporting events. 54% could use day c

let's get to kayla tausch e with the latest >> reporter: senators come back to the capitol this week and not discussions on the next stimulus package and told by sources the white house, treasury department and senate leadership in agreement that the discussions should not resume until the money from the existing programs has been dispersed and spent that is not the case yet according to a schedule for the week sent out by leader mcconnell's office, here's on tap. votes on the inspector general for the nuclear regulator, other nominees related to the pandemic and national security and also a reauthorization for the fisa court program that's expired president trump said that democrats have been in touch about this next stimulus package and said in a town hall on fox news last night that more help is on the way. to be sure, the treasury secretary has even gone so far as to throat some of these items like infrastructure, incentives for restaurant, sports and entertainment businesses, a payroll tax cut for workers and some additional money for states as what the white house is looking fo

let's get to kayla tausche with the latest to expect with the president holding a news conference at 2:00 p.m they haven't said it's about china but that's the wide expectation. >> reporter: well, president trump yesterday said that there would be a press conference today about china and when just moments ago that 2:00 p.m. rose garden appearance added to the calendar the expectation that is this is a place for the president to escalate geopolitical tensions with china. a few months after signing that much heralded phase one trade deal a lot has happened in the intervening months and just this week the president's top economic advisers and foreign affairs advisers presented him a menu of options, possible policy actions to take with regard to china. in addition to signing a bill that was passed by both the house and the senate imposing sanctions for china's treatment of muslim minorities, other things under consideration is sanctions and asset freezes and visa revocations for top chinese officials in response to the hong kong nationalsecurity law and a special status assessment and t

kayla tausche is here with what we know at this point. kayla?er: kelly, senator burr informed the senate majority leader this morning that he would step say side during the course of this investigation into his stock sales in the early weeks of the coronavirus a republican replacement for this influential role has not been named, but a source says that burr will remain on the committee during this time a senior law enforcement official tells nbc news that burr's cell phone was seized overnight, pursuant to a search warrant obtained by the fbi as part of that federal probe into stock sales in those early weeks of the coronavirus, by not only the senator, but also his brother-in-law here's how senator burr responded on capitol hill today. >> this is a distraction to the hard work of the committee and the members and i think the security of the country is too important to have a distraction. >> reporter: of course, those comments about his stepping aside as intelligence chair. burr is just one of several senators whose market activity in february a

. >> kayla, thanks very much kayla tausche rertg.poin melissa? up next, a final check on the markets. stay tuned i love these fries. you know, the chef here trained in france. mmm, it shows! so good. oh hey, did you say you needed help with investing? because i know someone who's really great. and you trust him? totally. yeah. we went to school together. i'll check him out on investor.gov. so, what'll it be? i'll just have the burger. before you invest, get the full report. check out an investment professional's background for free on investor.gov. before you invest, investor.gov. ♪just in case i see your face♪ ♪i may be acting crazy now it's getting late♪ ♪they took my heart away ♪but i'll be okay, 'cause♪ ♪in my dream world ♪i'm still your dream girl ♪ooh, i'm still your dream girl♪ ♪ooh ♪ >>> the dow is in negative territory right now, close to the flat line again. the nasdaq up by 1.2%. information technology on the s&p 500 as a sector is now positive for the year, tyler i was talking before about a risk-on sort of day. the tlt, the bond etf,

kayla tausche with the details from washington. kayla?e top two leadershi spots called warped speed, it has chosen the former head of glaxosmithkline's vaccine commission as the chief adviser for that initiative and the chief operating officer job will be filled by gustav perna who has been overseeing the army's global supply chain. operation warp speed has gone from 80 to 1,000 and the number of vaccines they are testing dr. anthony fauci says he wants to be something at finish line by january. >> let's hope? >> kayla, we're also getting headlines here from the president weighing in on the negative interest rate debate that has dominated cnbc today. what did he say? >> well, he's currently meeting in the cabinet room with state delegations from colorado and north dakota making some comments about fed chair jay w powell, his performance as fed chair has improved and president trump thinks that the u.s. should have negative interest rates. president trump also says that he thinks the schools should reopen so certainly making some headlines

kayla tausche has the latest. >> the move effective tomorrow comes as north carolina republican senatorl probe into possible insider trading after well-timed stock sales in mid-february that came just after he attended a briefing in late january into the coronavirus. now cnbc has learned that senator burr attended at least three additional private briefings on the coronavirus that were hosted by the intelligence and health committees where he served some senior roles one of those briefings took place on january 12th, just the day he sold stock worth between 600,000 and $1.7 million those sales taking place before the market tanked 30%. the fbi obtained a search warrant and seized the senator's phone last night, a senior law enforcement official tells nbc news the senate ethics committee is also investigating burr's actions at his request and while the the senate republican conference rules only require a member to step aside like burr did today in the case of a felony indictment, today he told reporters he felt it was a distraction. >> this is a distraction to the hard work of the commi