carl: yes. he was a spy. the south korean in the next enough that het found out that he was. he called in some other soldiers and they got him over to the side and had a little interview of their own. interviewer: you might have been killed. carl: right. i was really shocked when i found out. i had another south korean that came in with me and he explained to me what happened. i had no idea but the south korean soldiers took care of him . where he went or what happened to him, i do not really know. it kind of got to you, when i realized i could not tell them apart, they all looked the same and so i had no idea. the soldier next to us, i do not know exact the but they talked back and forth and he found he was north korean. interviewer: did you see korean people around the city? carl: occasionally, yes. it was terrible. them -- their homes were destroyed, they were trying to live on whatever they could find. it was a terrible thing. is for anyplace. it always is. think one of the hardest things, a

[ laughter ] >> carl reiner brought laughter to generations. >> and you end up cockeyed. this may be hokie but what you do think kept him going so long? >> the same thing that keeps me going so long. we both like getting up in the morning. he missed it today. he missed it today. >> we remember carl reiner, later on "sunday morning." >>> ted koppel hails a taxi and hears the woes of a new naturalized citizen. >>> kristine johnson visits with grammy-winning singer gary clarke jr. >>> kelefa senneh remembers a fourth of july speech from frederick douglass 168 years ago. >>> plus -- thoughts from nancy

thank you, dear carl. carl reiner was there at the creation of television when no one was quite sure what television would become. this box that you're watching now started as a little black-and-white screen that has delivered us all countless indelible memories, many of them painful, many of them difficult to watch, from police brutality against civil rights protesters to the first televised war in vietnam, the funerals of assassinated leaders. that is the jurisdiction of television news, and that is much of what we have delivered. but we could not end this hour of television tonight without acknowledging on television carl reiner's contribution to this screen you're looking at now. carl reiner's contribution was pure joy. carl reiner was 98 years old. ♪ >>> good evening once again. i'm steve kornacki in for brian williams. day 1,258 of the trump administration. 126 days until the presidential election. tonight the white house is caught between two crises and trying to keep them from spiraling out of co

thank you, dear carl. carl reiner was there at the creation of television when no one was quite sure what television would become. this box that you're watching now started as a little black-and-white screen that has delivered us all countless indelible memories, many of them painful, many of them difficult to watch, from police brutality against civil rights protesters to the first televised war in vietnam, the funerals of assassinated leaders. that is the jurisdiction of television news, and that is much of what we have delivered. but we could not end this hour of television tonight without acknowledging on television carl reiner's contribution to this screen you're looking at now. carl reiner's contribution was pure joy. carl reiner was 98 years old. ♪ ♪ >>> good evening once again. i'm steve kornacki, in for brian williams. day 1,258 of the trump administration. 126 days until the presidential election. tonight the white house is caught between two crises and trying to keep them from spiraling out

. >>> and we will remember hollywood legend carl reiner as we kick off this first day of july "early today" starts right now good morning i'm phillip mena >> gld you're with us. i'm frances rivera the country is set to reach record highs in the south and southwest. according to the "new york times" the number of new cases in the u.s. shot up by 80% in the past two weeks the number of americans infected tops 2.6 million and the death toll is steadily creeping toward 10,000 >> the paycheck protection program has been given another lifeline tuesday night it was voted to extend the program until august 8th, with $130 billion nun used funds now moves to the house for a vote >>> a dire warning on capitol hill from the nation's cop infectious disease expert. >> we're going in the wrong direction. if you look at the curves of the new cases, so we really have to do something about that and we need to do it quickly. clearly we are not in total control right now. we are now having 40,000 plus new cases a day. i would not be surprised if we go up to 100,000 a day if this does not turn around >>

carl reiner was born in the pronks in 1922. he was hired as a writer and a cast writer on "your show of shows" hosted by syd ceasar. >> the nina, the pipta and the maria riva. >> larry gel bert, woody simon, and mel brooks. >> more than a tall bald you. he's a force. >> reiner and broorks not only best friends but a powerful comedy combo in the 19 six. brooks playing the 2,000-year-old man. >> what has kept you alive for 2,000 years? >> sneezing. >> reiner developed "head of the family." it flopped. thank goodness he rewrote a little andt became -- >>> "the dick van dyke show." >> he was never cynical or mean. >> when i'm with you i feel like i'm 85 again. >> in later years reiner did a little acting and a lot of directing, including four films starring steve martin. he also produced a fales son, rob reiner grew up to be a top comedy actor and director. it was carl's wife est estelle delivered one of the most memorable lines in movie history. >> "i'll have what she's having". >> i continue to be silly and -- >> and i go for tha

rick, good morning. >> good morning, carl. indeed, you know, if we look at what's going on in treasuries obviously many are continuing to look outside of treasuries, especially in the safe hasher. yields aren't juicy enough potentially as we see gold at some of the best levels since 2011, but i will warn, you know, if you go back to 1980, gold had a high of about 835 soin$835 s d if you adjust that for inflation we haven't taken it out. look at a week to date of ten year note yields hovering at 66 basis points, we just moved into the green in terms of we settle at 65 yesterday, so yields are a bit higher, prices are a bit lower, but we are at the lowest levels since the end of last month and on the jobs thursday report we were as high intraday as 71 basis points so you could see that is the high water mark and it really has proven to be we always seem to get the juiciest yields whether it was over 90 basis points in that original report when we saw the surprising growth in jobs. if we look at what's going on in credit in gener

and remembering carl reiner. saying goodbye to a comedy legend. >> this is the "cbs evening news" with norah o'donnell, reporting from the nation's capital. >> garrett: good evening to our viewers in the west. thank you for joining us. norah is off tonight. i'm major garrett. the u.s. could soon see 100,000 new coronavirus infections every single day, more than double the current number of cases, that stark warning tonight from the nation's top infectious disease expert comes as the virus is exploding across the south and west. dr. anthony fauci told congress today the dramatic increase in some parts of the u.s. is now putting the entire country at risk. tonight, 37 states are now reporting more infections compared to just two weeks ago. hospitals in texas and arizona are now being stretched to their breaking points. los angeles county says it could soon begin running out of beds by the middle of next month. at least 14 states are pulling back on reopening, closing top tourist destinations, including beaches and

contessa brewer has that >> hi, carl. the infection rate has climbed so alarmingly that starting today the bars will close in the state's big e counties clarke county, where las vegas is and reno with the new restrictions slot machines in the bars also will have to be shut down. bars in restaurants will close though alcohol can be served at the tables, but restaurants can go longer seat parties larger than six people. bars and casinos are closed. and those casinos can still serve alcohol. the whole point here is really to keep people from congregating in close quarters with their masks off which, of course, they have to do to drink. the point of the masks, the governor says, he's permitting gyms and pools to stay open, but he has strict warning reminders that masks have to be worn unless as he said, you're in the pool or walking to and from the pool i mean, that pool culture is so important in las vegas in the summertime the resorts are already limited to 50% capacity at these pools you got to wonder what vegas is without

i'm carl quintanilla with david faber. leslie picker is us on a where where we're watching the markets here financials are underperforming as we get a fed meeting in a couple days. mike san tolehelping raise the with so much coming at us. it's a matter of what we pay attention to >> just the setup is the nasdaq coming off of record highs looking like it broke stride a couple down weeks in a row raising the question as to whether the market has a little bit of a leadership crisis i think right now you'd have to say it's fairly routine. nasdaq this morning bouncing off of a level it's done so twice since june it's a short-trend up trend. if it pulled back 4% routine. the overall market, the take away is has absorbed it reasonably well. the dollar making dramatic moves to the downside. it's supporting assets of every time priced in dollars and earnings the reactions have not been good as everyone has been saying. there has been a sell the news effect going into this week if you look at apple, amazon facebook, they came into t

hey, robert. >> good morning, carl. we should make clear that all the people in companies mentioned herefollow the rules of this program. it did help retain jobs and of course, many of these people had an obligation to do whatever they could to save their companies, but some of these names that got taxpayer money now raising eyebrows, among them billionaire ron buerkle, soho house received between $9 million and $23 million by applying through each club location from miami beach to manhattan and hollywood. over 400 country clubs and golf clubs receiving funding. the famous greenbrier resort in west virginia owned by governor jim justice that got between between $5 million and $10e million. billionaire developer joe pharrell who builds hampton homes got nearly $12 million private jet companies also received money from ppp. clay lacy aviation which flies celebrity athletes and wealthy vips got $27 million from the aviation fund and $5 million and $10 million from the ppp fund. nobu, the famous sushi empire received loans

and remembering carl reiner. saying goodbye to a comedy legend. legend. >> this is the "cbs evening news" with norah o'donnell, reporting from the nation's capital. >> garrett: good evening, everyone. thank you for joining us. norah is off tonight. everyone. thank you for joining us. norah i'm major garrett. the u.s. could soon see 100,000 new coronavirus infections every single day, more than double the current number of cases, that stark warning tonight from the nation's top infectious disease expert comes as the virus is andloding across the south and west. dr. anthony fauci told congress today the dramatic increase in some parts of the u.s. is now putting the entire country at risk. tonight, 37 states are now reporting more infections compared to just two weeks ago. hospitals in texas and arizona are now being stretched to their breaking points. los angeles county says it could begin running out of beds by the middle of next month. at least 14 states are pulling back on reopening, closing top tourist destinations, including beaches and bars, j

carl >> yeah. that chase card data, 30 million cards has provided some really interesting insight into the economy, steve >> yes >> thank you our steve liesman looking at the resurgence in covid cases. >>> taking a look at apple today, almost back to 389.82 which was the all-time high earlier in the week. major victory in the eu with the court decision on thtas.e xe and needham reaching a street high we'll talk to analysts in a moment network that puts you first. that connects you to technology to each other and to other agencies. built with and for first responders. firstnet. the only officially authorized wireless network for first responders. because putting you first is our job. gimme one minute... and i'll tell you some important things to know about medicare. first, it doesn't pay for everything. say this pizza is your part b medical expenses. this much - about 80% - medicare will pay for. what's left is on you. that's where an aarp medicare supplement insurance plan, insured by unitedhealthc

thank you, carl. carl has agreed to take a couple of questions. so we will do that now. just raise your hand. i do want to ask the first one, though. as i mentioned before, carl is the author of a dozen books, more than a dozen books, whose latest, this one, "why they wore it." it's also available for sale in the museum store and i think carl will sign it for you if you buy it. but this was done in four months. can you tell us a little bit about that experience doing this book in four months? >> i don't know if i should. it was insane. it really was insane. and yet, you know, everybody was doing their part. you know, i would send images and photographs and say -- and we would say, we've got to try to find one that is public domain. and so there were various staff members who were very diligent and tracking down that event and finding an image and, you know, it was a lot of back and forth. my now favorite moment of the whole thing was a few days after the fourth of july when my center and her husbandmpmpmpmpmn to disneyland and i said, i need to go down to get these r pro

and carl was a champion from the sides. >> reporter: carl and mel were a match made in comedy heaven. but reiner's lifelong costar was his beloved wife, estelle. >> i had a lot of hair in those days, black hair, wavy. >> yeah. reporter: the pair reminisced about their first meeting back in 2007 with tracy smith. >> really good-looking, but typical, i said tall, dark and handsome. ♪ you're adorable >> reporter: ten years later after estelle passed away, reiner reflected. >> having a good marriage, and good children, a good life is what you send out into the world. i had good children, nontoxic children, all have done great things and are continuing to do great things. and i had a marriage of 65 years. that's the only thing that really defines me. >> reporter: there's a stereotype about comics being dark. carl reiner was all light. a few day ago, norman lear's son-in-law, our own dr. jon lapook, sent us this video clip of carl reiner greeting lear at a party in 2000. >> it's strange to say it in the season of coronavirus, but he was a great hugger. it's a gem that little bit of photog

>> how will you remember carl reiner, william shatner? what was it about him that made him so special >> well, i knew him, admired him on live television he was my early acquaintance with making people laugh but i did a show called "boston legal" and he was a guest on it. so we sat for many hours together waiting for shots and he was so amusing and insightful then i did an interview show called "raw nerve" and i interviewed him for an hour. and he made us all laugh he was a wonderful interview but then i went to a mutual friend's birthday celebration. norman corwin was an award winning radio producer in the '40s and '50s. he was an author, great playwright and producer. we both knew him, so i saw him at norman corwin's 100th birthday, if you will, all the geriatric guys wheezing enjoying each other it was quite an occasion >> what do you think -- what was his secret sauce i mean, what made him so legendary? he had that thing so many want in hollywood, longevity. >> he had that hunger to make you laugh. he was always looking to make you la

carl, do you know? >> well, they -- >> they were four years apart, so i think nancy was just leaving as barbara bush was just coming in -- >> yeah, and barbara bush didn't graduate. she was only there a year or two. so i don't think so, but that's actually a good question. >> but we know nancy reagan went to new york to try her hand at acting -- >> yes. >> -- right out of smith. and then she was in new york for a few years before she moved to hollywood. she had a contract with mgm, and talks about -- >> a rival from ron's studio, from warner brothers. >> that's right. >> also on twitter, one of our viewers whose tweet is not coming up nicely for me, sheldon cooper is asking about her stepfather and his influence on her politics. "dr. davis was very active in conservative politics. did that influence nancy reagan?" >> he was a republican, and i think it did influence her. but she -- you know, when she married ronald reagan, at their first date, you know, reagan is discussing politics already, and he's ta

good morning, steve. >> good morning, carl. keeping schools closed will be bad for the kids, most folks agree, and hurt working parents hard, but the impact from lost work on the overall economy not necessarily overwhelming here are the numbers as estimated by barclay's 14.4 million workers married and both are employed in the household. 8.2 million single-parent employed workers total is 14% of the workforce, low income workers, minorities and single parent homes will be hit hardest. the hit to gdp through january would be 1.2% but that's before families and businesses take steps to reduce losses as are expected among them some of them already, working from home, people can share child care and bring in non-parents like grandparents or the older siblings, and also surplus and existing workers can take up slack at the workplace so while individuals would lose the hours and the pay, the overall economy would only lose some of the total output the potential for lost output that needs to be gauged against the potential for the dis

it's not the old days, carl. i'm just not that guy. >> you've been pretty resolute in your chill, jim it's been months now. >> it is not easy. i have people -- i mean, cramer and portnoy, i've been saying -- i haven't blocked portnoy. portnoy, he had -- what, he was up 10,000 yesterday, he was up 30, i think. you check that every day, right, david? >> there something going on where you have to mention portnoy's name four or five times in the first ten minutes of our show. >> we're about to get sports and i want to know is he going away. more advice on baseball or betting on someone than we do on whether he likes the four letters that come out of a bag hello? >> if he goes away do a lot of the robin hood traders go away as well and move back towards betting on sports? yes. absolutely carl, i have to tell you it's the twilight of the robin hood isles when sport opens. >> that would be remarkable, jim. if he is a true pied piper. >> yes, he is. >> to that big a contingent of retail investorinvestors. >> a stimulus c

thank you, carl. we will do that now. i do want to ask the first one, though, as i mentioned the author of more than a dozen books, the latest this one, "why they wore it." it was done in collaboration and also available for sale in the museum store, and i think carl will sign it if you buy it. this was done in four months. can you tell us a bill about that experience in four months? >> i don't know if i should. it was insane. and yet, you know, everybody was doing their part. i would send imaging and photographs, and then say we got to find one that's public domain, so there were various staff members here who were very diligent in tracking down that event, finding an image. there was a lot of back-and-forth. my now favorite moment of the whole thing was a few days after the fourth of july when my brother -- my sister and her husband and my niece and nephew were going to disneyland visiting from the east coast. i said i need to go to anaheim to get these photographs to our book producers. and diana, who's here today, it

>> i don't think so, carl. for the september quarter i think it was largely expected when we previewed. we taught that the delay of the iphone would lead to a situation like this. what we're really seeing is a deferr deferral you might get the first 100 billion revenue quarter for happenle in it's history i think the timing thof is less consequential. you get two benefits and next september, and the launch of another phone, you see them strike thatle both of those. and i don't think it changing the fundamental story here what it does is reinforce the fact that you have, in the last ten quarters apple's overall revenues went up so the company can grow, they are doing extremely well we have a company now that is e decoupling from a iphone sen strike story to something broader. >> hey, it is deirdre. i love that cook call it'd a decent quarter ing cook mentioned the opportunities to josh, and where does it stand? for it's education products. >> a huge opportunity that you're seeing. the younger generation is reall

tim cook is so proud, carl, of his productions. when you ask him what was he excited about when josh and i spoke with him the productions, the awards and how you've got to get on the case and watch these carl, this is where his heart is and i think -- >> yeah. >> -- it's going to surprise us. >> i mean, we are coming off a week, jim, where netflix set the record for the most emmy nominations ever and hbo behind, but that's apple's style is to come in second and then show everybody up. >> yes, they start small and see what people want and then boom do you know what i'm most proud of last night? he likes the democracy that i think we bring to the business he likes the people who watch us he knows that the people who watch us feel that they can't afford an individual share of a stock that's valued at such a high price we all know that 400 is the same as 10 or 100, whatever, but he knows psychologically that the regular viewer doesn't want to buy apple or can't buy apple because of a $400 price tag so he does the split. i know it is ju

that's the big question, carl. >> yeah. mike, something we've been talking about -- sorry, carl go ahead >> go ahead, david i was just going to say the barbell on the s&p this morning is indicative of the conversation around chips. intel is the biggest s&p loser, amd is the biggest s&p winner. this note out of bernstein, david, as they go to underperform, pretty remarkable comment here ordinarily we frown on moving ratings directly on an earnings night, but this, our 45th intel earnings call was the worst we've seen in our career covering the company from here we see things growing increasingly painful as we said, i counted at least five downgrades from deutsche, barclay's and others. >> and we had that analyst that joined us at the top of the hour, mike you mentioned amd which i think is important i'd like to take a look at that but that is quite a significant loss as we learned, it's not a loss of market cap, it's not just about the delay in the chip as you look at amd surging there, it's also about the second-half guidan

carl reiner was 98 years old. when he was asked how he'd like to be remembered, he said he hopes he made a difference and that he made people laugh. mission accomplished, mr. reiner. >> what a life. >> i think a lot of people would agree with that. >> what a life what a legacy. thank you, will. >>> coming up, the great debate over the perfect steak. >>> and why guinness is pouring hundreds of thousands of unused beer onto christmas trees. ♪upbeat music she's doing it again. no cover-up spray here. it's the irresistibly fresh scent of febreze air effects. [harsh aerosol spray] cheaper aerosols can cover up odors, buryiodors in a flowery fog. switch to febreze air effects! febreze eliminates even the toughest odors from the air. and it uses a 100% natural propellant to leave behind a pleasant scent you'll love. use anywhere odors can spread. freshen up, don't cover up. febreze air effects. >>> time for "the mix" and almost time to slap it on the drill. >> we have the meat! >> we sure do. so many people are getting

apply today at massmutual.com/healthbridge ♪ >> good morning, carl. the number of borrowers in government and private sector coronavirus-related mortgage bailouts fell by the largest weekly volume since the plans were put in place. but there are some big red flags. as of june 30th, 4.58 million homeowners were in forbearance plan that's 8 .6 % of all active mortgages. now, these plans allow borrowers to delay their monthly payments. after rising the previous week, the number of loans in active forbearance plans dropped by 1,000. that brings the total volume to the lowest since the first week of may volume fell in part because more than half of all active forbearance plans were set up with 90-day periods and began in march and early april. they would be scheduled to expire or at least be reviewed for extension in june. about 2 .2 million loans in that category the drop suggests some of the borrowers did not need an ext . extension. many more did need an extension. the bailout program under the cares act allows borrowers with government backed loans to

i'm carl quintanilla with david faber and leslie picker. consumer confidence, get to rick >> reporter: consumer confidence for the month of july expected up around 95 to 96, a bit of a disappointment 92.6 and if we look at the present situation it moved from 86 and change up to 94.2, and if we look at expectations, this one really lost some ground from 106 all the way down to 91.5 the headline at 92.6, well of course it's reversal of last time, rebounded up to 98, so we want to be a bit careful here, 85 was the april low a six-year low. let's move to richmond fed also a july number, this number is coming in at ten, twice expectations and it is the best level since january, when we were at 20 and the low water mark was minus 53, of course that was in april. leslie picker, back to you >> thanks, rick. starting to see those confidence levels trickle into earnings so bob pisani is with us to break down what's going on on a busy day, during a busy week for earnings season. bob, what is going on? >> well, leslie, we're about a third of the way th

i think that's a very inciteful question, carl. >> it's jon. >> sorry, jon. i can't see anybody. >> we sound a like >> it's just guessing. but i think that's a pretty simple answer. it's the companies that are stuck behind the fire wall right? it's companies that have to go and actually physically deliver their product. they have to install their product. they have a service element that has to be on site associated with that. and there's sort of the old iron tech companies that are stuck with that dynamic. then if you look at what's happening with the newer sass related companies, look at what's happening with kind of the digital consumer related companies, the netflix and sun runs of the world, those are the companies that are prospering and the companies that are in a situation where they've got to go and actually get inside a building and have a direct relationship kind of what we call belly to belly with the customer, those are -- it's very difficult times for those guys and it's going to take quite some time, if not sort of forever for that to come back

carl >> thank you for that. a beat on the top and the bottom, powering shares of phillip morris this morning and a full-year outlook coming back and exceeding expectations we'll talk to the ceo about at jt montth >>> a big beat on earnings revenue beating the street as well the tobacco producer also producing some guidance. andre collins joins us this morning on a cnbc earnings exclusive. andre, welcome back. >> thank you for having me, good morning. >> we want to talk about the quarter but in an era in which the market is starved for corporate guidance it seems like the return of guidance from you guys is a big piece of news. what gave you the confidence to issue any kind of outlook? >> well, we all understand we have been through unprecedented times. especially in the last quarter and i'm very pleased with the results coming back better than what we initially communicated and expected i'm also very pleased that a tobacco product has performed better than weer anticipated and has continued growing despite the f

good morning, bob. >> good morning, carl. happy friday everybody. yeah, we are up about 1% for the week, have he good start to earnings season. it's nice to see the banks holding up relatively well they tend to dip going into earningsen is this week, not so this week. that's a good side sign. a bit of a reversal for the trend which has been towards value. early on tech has been a relative outperformer, energy is underperforming and banks are underperforming as i said that's a little bit of a reversal of the trend for this week, there's been this value rotation we talk about, tech cooling off, industrials, energy doing better look at the numbers for this week, transports, classic value, have had a great weekover all, up about 5%, small caps are up about 3% you see industrials, energy and technology lagging so this is in a nutshell your value play, your value win hard to believe, though, the value rotation is going to last. i'm sorry. i know everybody has been waiting for ten years for value to outperform but the simple fact is the numbers. the weight

carl reiner was 98. thank you so much for watching. i'm tom llamas. i'll see you right back here tomorrow. stay safe. good night. >>> if you're flying from california to the east coast, get ready to quarantine. >> reporter: i'm in pittsburgh. the governor was talking about hotel rooms for the homeless during the covid crisis. but he was interrupted by protesters. >> reporter: san quentin is the prison with the most covid-19 cases in the state. officials are asking gavin newsom to intervene. abc7 news starts right now. >> right now we're about double where we were two or three weeks ago. >> a bay area doctor sees firsthand the sudden spike in coronavirus patients and it's alarming. good evening. our efforts to build a better bay area mean focusing on four key areas that have all been seriously impacted by the coronavirus pandemic. our health, of course, education, the economy, and changing work places. health is the most important which is why we mentioned it first. this graph explains why it is such a big concern right now. each blue bar represents th

carl, that's right the second decision is in. the supreme court is throwing out rulings allowing the democratic-led congressional committees to obtain the president's financial records sending the dispute to the lower courts here. so that sort of keeps the supreme court for now anyway out of the position of really regulating a dispute between two independent branches of government which was one of the concerns here on the part of the supreme court. the issue in all of this had been three separate house committees had subpoenaed the president's financial information from his accounting firm and from his banks, capital 1 and deutsche bank. what they wanted was information about the president's financial activities the question constitutionally was whether or not they had a legislative purpose to do that whether or not this was a fishing expedition, so to speak, or whether they were subpoenaing this information for a legitimate investigation that would result in some kind of legislation that would affect the country. the president s

. >>> good thursday morning, welcome to "squawk on the street," i'm carl quintanilla with jim cramer and david faber. futures are weak as the bulls have some headwinds today. a historic collapse in q2 gdp, initial claims up for the second consecutive week, the white house says a deal on stimulus nowhere close. ten-year yield is close to a post-covid low, 54 basis points as the president, jim, on twitter, becky just mentioning this, floating the idea of delaying the election. we saw futures tumble a bit on that. >> right i think that the shock value of that is maybe more, let's say, the bark versus the bite i think that there's a belief that we could get a lot -- a much better picture of what the health situation is going to be like in november so it's a little premature to be able to say what the president is saying and it's certainly contrary to what he was saying about the idea that we do have a vaccine very soon. if we have a vaccine very soon why do we have to delay the election and why does it have to be crooked i think you can't have it both ways you can have the vaccine come o

good morning, eamon. >> good morning, carl. this announcement out at the top of the hour from the treasury department saying that five airlines have now taken loans from treasury under the c.a.r.e.s. act the airlines are, according to the treasury department, american airlines, frontier airlines, hawaiian, sky west and spirit they have signed letters of intent the treasury says setting out the terms in which treasury would extend loans under division a title 4 subtitle a of the c.a.r.e.s. act there is a statement here from treasury secretary mnuchin who says we are pleased that major air carriers intend to use this important program and for treasury to use its authority under the c.a.r.e.s. act to provide much needed financial assistance while ensuring appropriate taxpayer compensation so, carl, those five airlines now assigning letters of intent to take those loans from treasury under the c.a.r.e.s. act. obviously all of that underscores how brutal of an economic environment it's been for airlines with no clear sense of when t

>> carl, we've seen this remarkable franchising of america. a lot of the restaurants are franchising. you know what? there's a certain point where they can't pay the fees and these franchises are all borrowed money and it's been a fantastic business why does chipotle go up constantly i think it goes up because it's store owned. the company owns the stores. and the differentiation may be, you know what? we're defaulting let other people continue to pay. and i've seen this over and over again. even the starbucks of the world. wait a second, we're not paying that rent. chipotle is trying to cut the re rent be careful this stuff all ends up at the bank that's what i'm worried they have to talk about. >> yeah. last week, of course, piper went to 1450 on chipotle, jim, lot of discussion about direct to consumer again and in terms of the franchise, how much that knocks the model in terms of medical news, we go florida with 15,000 plus over the weekend. more than being offset, of course, by this fast track biotech news how are you seeing it, jim >> pe

school but there was no money no money no money was exchanged my mother made milk with the help of carl and myself we're churning i remember my childhood i was churning milk up and down. no one knows what a churn is and still no money was exchanged were my dad or only god who had all the potatoes vegetables chickens everything to eggs and milk. all the food we needed. 1039 the beginning of world war 2 candidate interest the war alongside great britain the hardships of the great depression and the challenges of world war 2 speed up the process of industrialization in canada the defense industry is rapidly developing family moved to the city of hamilton where stefan gets a job at a steel factory their sons george and carl enter the west still secondary school of hamilton and work with their father at the steel mill the future of the translators relations with language is challenge to say the least when i was studying french and latin in west l. secondary school i was the worst french language student in my class. and they were seizure handing out papers at the. half of the easter holidays

across the border with the united states after a short while the couple have 2 children george and carl the great depression is in full swing. at the height of the great depression everyone was jobless everyone knows travelling around in box cars looking for jobs all right canada then the canadian government launched a program called homesteading the homesteading program. which is based on the following. the government of canada gave those who wanted to volunteers 'd free land absolutely free couple of horses a cow poultry my father while the interior for home setting and we moved. north in manitoba to a place called near swan lake and we have plenty of food in the day my father and his friends and relatives built the house we were there we started going to school there walking about 6 miles to a country school but there was no money no money no money was exchanged my mother made milk with the help of carl and myself we're churning i remember my childhood i was churning milk up and down. no one knows what a churn is and still no money exchanged were my dad only god who had all the potat

carl capolingua. we will have plenty more to come. this is bloomberg. ♪ shery: seeking evaluation of more than $200 billion between listings in hong kong and shanghai. shares of alibaba close more than 3% higher in new york with analyst saying it 33% stake in ant financial could be worth $60 billion. earlier, alibaba president michael evans spoke to david rubenstein. they discussed the impact of the coronavirus and u.s.-china tensions on alibaba's business. michael: people are always surprised when i sit down with the u.s. government official and talk to them about what we are doing in the united states. in the become very supportive when they start to understand the impact and the scale of what is being sold by american companies to the chinese consumer. and the may have had misperceptions of what we have been doing based on what other chinese companies have been doing. they are very supportive and they understand that is going to be our core mission in the u.s. going forward. david: many of the ceos with whom i have talked on the

carl young's team. on the other hand was way behind their competitors as well as their own deadlines. the engines were still the big problem too weak to unreliable and too many 30 of them in the 1st stage along. with. we knew that using so many engines would make the whole thing unreliable for sure so when you got stuck but we had no other solution at the time. we lack the necessary technical and experimental know how we simply did not have the necessary resources. no resources. it's not just the moon rocket that was causing problems they hadn't even started thinking about the moon capsule. there weren't even any models of it it was only on paper. but call ya remained optimistic. the player intervened. but he could feel. he was able to motivate his employees he could appear at the plant in the middle of the night and say. we have to work we have to be the 1st and i saw that the boss was with him. and so they worked hard and put their heart and soul into it. he was able to inspire and organize large coll

good morning, rick >> good morning, carl. of course, we're waiting for a june read on ism, the national manufacturing. chicago disappointed a bit this does not hop over that magic 50 line. 52 .6. we're expecting a number of whisper under 50 this follows 43 .1, maybe or maybe not to be revised. we'll give it a few minutes to stew but 52 .6 is the best number going all the way back to april. april of last year april of last year now, 5 6.4 is new orders what a jump from 31.8. and 51.3 on prices paid from 40.8 the prices paid, there's a lot of debate what the pricing issues will be six, nine months a year down the road from now, especially should we get our arms wrapped around coronavirus. our may read on construction spending, a disappointment here. minus 2.1% we were expecting a number closer to 1% in april it was minus 2.9% i don't see any revision, but i have an elevated heart break looking at the fact that we had 5,800,045 jobs on a revision >> thank you for breaking that down the ism number is something to watch. as all th

host: carl smith. guest: when we think about what we are going to have to do repay some of the cost of the virus and particularly if congress doesn't change the trajectory of entitlements or as many people are talking about expand entitlements come we made the point that consumption taxes are the only viable way to even attempt to -- some of this stuff. a lot of the times measures of congress especially ones who want to expand title months point to the size entitlements in europe in one of the points we've made his overtime europe is actually been lowering some of the taxes on business and they've been increasing their already relatively large reliance on consumption taxes. particular on the value added tax. it's like a sales tax but levied on the business prior to the sale rather than the consumer at point-of-sale. it's for essentially the reasons the caller outlined. the larger tax rates get, the more incentive there is to play games with the system to avoid taxes, even especially for businesses to l

welcome back >> thanks, carl. good to be here. >> i am -- you know, it's funny. we talk about tesla now in increments of 420. a couple weeks ago it was three times 420, the stock now four times 420 i assume you're in agreement that the price has separated itself from whatever fundamentals we have to work with >> yeah, absolutely. the evaluation of the company has no basis in, you know, traditional valuation metrics. but i do think investors are looking at a couple of things. i think they're looking at the growth trajectory of the company, you know. it's added the shanghai plant. the european plant is being added. at the same time, they're looking at the competition and folks like vw, who are launching an important crossover in europe, is having a lot of problems with the software management of that they're also looking at the new products that are coming are all incremental. interestingly, even in this down economy, countries or continents like europe and countries like china have not moved off their co2 regulatory requirements, so that's going to further, you kn

. >> carl smith joins us the assumed serves as vice president of the tax foundation, discussion on tax policy and how be used to spur economic recovery but first remind folks what the tax foundation does and how you do it. >> the tax foundation is an organization that educates the public on tax policy and also assist members of congress in developing tax policy. we do in particular analysis of the cost to the economy and to the government of tax increases or tax decreases, tax foundation.org is a website as. as we look at recovery efforts, it's now been four months since america startedon shutting down. congress congress is appropriatr $2.5 trillion in response. at what point do we start focusing on long-term recovery as opposed to responding to immediate needs that are happening in the here and now? >> guest: that's hard to say. i had originally thought when the crisis began that around the end of the summer we would need to make a strong tilt towards long-term growth. we had sort of a three-part approach to this during the immediate crisis we needed to write liquidity for businesses,

remembering a hollywood legend >>> finally a tribute to a master of comedy, carl reiner, iconic funny man, tv pioneer, and father of rob reiner, dying at 98. joe fryer now on a lifetime of laughs >> everybody loves the new life >> reporter: it is easy to recognize carl reiner's face. >> i always said i like you so much better without your -- >> hair! hair >> reporter: but he is equally known for his mind as a writer and director born in the bronx, reiner's big break came in the 1950s performing on sid caesar's your show of shows. >> get out and get out fast >> reporter: there he teamed up with comedy legend mel brooks. >> people actually hit themselves in the face >> oh, my. >> that hurts though >> reporter: reiner was a prolific writer creating one of the most beloved sitcoms of all time. the dick van dyke show >> he is my mentor and my idol. >> reporter: he was also an accomplished director >> i'm somebody now! >> reporter: when asked how he would like to be remembered carl reiner's answer was a lot like his life -- humble yet funny. >> he was here and he didn't foul up the earth. h

>> reporter: when asked how he'd like to be remembered carl reiner's answer was a lot like his life -- humble yet funny >> he was here and he didn't foul up the earth. he made a difference he made me laugh >> reporter: nbc news. >> he sure did make us laugh. that laughter still lingers tonight. that's "nightly news" for this tuesday i'm lester holt. for all of us at nbc news, take care of yourself and each other. >>> right now at 6:00 p.m., not a request you often hear from a coastal town mayor. think twice before coming to the beach. reason for the plea. the news at 6:00 p.m. starts right now. i'm jessica aguirre. >> and i'm janelle wang. we also have raj mathai with us. >> here's a huge frustration, especially for parents. will school be back in session? just a couple of hours ago, we got some guidance from santa clara county. we'll see you in just about three minutes with that. >> thanks, raj. >>> governor newsom is concerned that californians will spread more than cheer this fourth of july. the cases hitting an all-time high in the state. california had 8,086 new infections in 24

carl young's team. on the other hand was way behind their competitors as well as their own deadlines. the engines were still the big problem too weak to unreliable and too many 30 of them in the 1st stage alone. for well over 3 years we knew that using so many engines would make the whole thing unreliable for sure so when you have sucked but we had no other solution at the time for us here we lack the necessary technical and experimental know how are we simply did not have the necessary resources. no resources. it's not just the moon rocket that was causing problems they hadn't even started thinking about the moon capsule. there weren't even any models of it it was only on paper. but college of remained optimistic. along the creditor did. pretty good deal. he was able to motivate his employees he could appear at the plant in the middle of the night and say. we have to work we have to be the 1st and i saw that the boss was with him. and so they worked hard and put their heart and soul into it. he was abl

okay yeah it's hard to believe it was nearly ten years, ago carl, cnn but as we look at, that as we've been working through the series of first ladies biographies, especially in the 20th century, many of the first ladies for political partners with their husbands. was this a particularly special political partnership? >> absolutely. it's heartbreaking. it's like she lost him twice. as she passed that, coffin imaginary padding his shoulders every night for ten years. she said goodbye to, him goodnight, and every, night it was like losing cam again. i think nancy got a rough start in this, town she got a rough start in sacramento, but she won everyone over in the ten years that he had alzheimer's and she took care of. him >> she called it the longest goodbye, it wasn't her, words people around them called it the longest. buy it was 1994 when ronald reagan wrote the letter and announced to the world he had alzheimer's. and of course no one knew what that was. it wasn't as familiar to us as it is today. there was no way of knowing how long he would live. he would live another ten years, bu

i'm carl quintanilla with david faber and leslie picker. jim is going to stick around big cap tech ceos on the hill today. the democrat gop talks progress appears slow on stimulus we're going to talk to ge and follow earnings in a moment. jim, the fed this afternoon as a ten-year real records at a record low today >> look, and i think obviously people feel maybe there's going to be a deal my sources indicate there will be a short-term extension and we're going to be out of this woods, and that people who are betting this is going to fall apart are going to be wrong. it was my principle concern. i think that there's a lot of good news coming and people should stop thinking there will be no deal short-term. we're going to get something stop worrying. and it could turn the market -- >> what, david you mumbled something. >> yeah. when you said stop worrying, i thought of "strange love". you know >> i am more confident than i have been, that there will be a short-term deal. >> that's big news, jim. >> thank you thank you, david >> i want to make

i miss german i miss the bravo show hamas an architect of carling cup not true i mean with their surroundings then you resigned trend conquering euro natural materials are going to give successful new creations. and music is said to be the

time others could also take a hit so far they have not dropped by much but that could be dcoming soon carl >> thank you we'll see you later on this afternoon. in the meantime, welcome to "squawk alley" we have a hiccup here in the markets. the dow is at 25,600 is the low for the weekt. joining us this morning to talk about that is a u.s. equity executive strategy director. and i think maybe the first time we had you on our air, welcome >> thank you, it is good to be on and i appreciate the time this morning >> we love getting the insight nanny general your research notes have been really clear in spelling out a narrative on the kbas baskets that work for stocks i argue it is a relatively bullish tone, but how would you put it >> i think the way we're looking at this is we're ultimately confident that you have a v sharped recovery and ultimately you have a strong fiscal stimulus to provide an effective bridge to 2021 now mic and my team have also been positive on the operating leverage story particularly as we're seeing increased prevalence of companies having to do more with less just like