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tv   Squawk Box  CNBC  October 2, 2017 6:00am-9:00am EDT

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and "squawk box" begins right now. live from new york where business never sleeps, this is "squawk box. good morning, everyone welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick and andrew kernen is off. joining us is john swan. he is author of the weekly sneak peek newsletter. thank you for being here >> thank you for having me. >> overnight, gunfire erupting at the conclusion of a concert while jason aldean was on stage. that happened just after 10:00 p.m. local time. the clark county sheriff saying more than 20 people are dead and more than 100 people are injured. he said the suspect from the
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shooting was stopped on the 32nd floor of the mandalay bay hotel. that suspect was confronted by police and is now dead rumors of other shooters are false. the only explosive device was used by police to go after the suspect who has been taken down. they identify the suspect and did not release his name yet they're looking for his roommate, a woman named mary lou danly. in the meantime, let's get a check on the market's up again this morning i was talking with wolf earlier about the trump trade. the dollar, the yield today sharply higher up 31 points. >> yield curve is widening a bit, too. >> steamening, yeah. you saw 14% so far for the year for the dow.
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14%. remember mid to high -- mid single digit return is what people have been saying. >> better than the nasdaq closing at record levels on friday. >> good quarter. got a quarter left october, november, december. maybe we still do only get 7% but we have to be down the and the trump trade is back on i guess the introduction of we've got an idea what the tax reform would look like i don't know what the prospects are. if you just listen to the noise from mainstream media, all you need are republicans overnight the asian markets were closed for a public holiday. european equities. if we take a look at crude,
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that's part of the trump trade, too. if you believe economic activity is going to pick up. want to show you one thing i've never seen this this is from the washington post crucial term for the supreme court can have many eyes are on -- >> not all eyes. right? >> it's never all eyes it just never is there are people who can't say who the vice president is. there are times where we think in the media that all eyes are on. >> i think less than many. >> a few eyes. >> i've never seen them. >> you know why? >> it's because it looks better if it was all eyes they wanted to make it look -- >> oh, this wasn't the rate.
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>> the washington post would never admit the whole world was surrounded by the beltway. >> news on the front page, they talk about international stories, what's happening in spain. >> they better >> catalonia >> they're not going to get the chance catalonia has overwhelmingly voted for independence from spain with 97% of over 200,000 votes counted. the riot police were trying to stop the people from going to the polls. we're going to get a live report from spain you saw that all of the forces in europe were in the green today except for spain which is down by about 1.2%. >> kayla tausche is here with
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more on that. >> reporter: we reached out to the white house for a statement or a response to the las vegas shooting we'll let you know when and if we get that. the president spent the weekends tweeting about north korea secretary of state rex tillerson, quote, is wasting his time trying to negotiate with north korean leader kim jong-un. tillerson was traveling back and he was laying the groundwork for the visit next month there are several lines of communication open between washington and pyongyang meanwhile, as aid slowly trickles into puerto rico, the president taking a break against the tirade of the leadership of
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san juan to dedicate a trophy he presented to hurricane victims >> if you look today and you see what's happening, how horrible it is, but we have it under really great control in puerto rico. >> meanwhile the tax reform plan isn't intended to help the wealt wealthy. >> we'll go through the details. as we have them, we'll have full transparency the president has been very clear and i've been very clear from the beginning our objective is not to create tax cuts for them. >> reporter: today the president will taut his deregulation agenda he'll talk about the white house's efforts to roll back the
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regulations have saved $300 million in compliance. becky, that is set to take place in a speech around 11:00 this morning. >> kayla tausche we'll be continuing to look for any sort of response to that shooting as she mentioned from las vegas it's a tentative programming view to avoid the blackout the company have been sparring about how much they would pay on the optimum cable services the company is exspinting to take nordstrom can the financing closed the deal. brittain is speaking out on the trade dispute between plane maker boeing and bombardier. liam fox saying he will fight to
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protect the 1,000 jobs being put at risk in northern ireland. last week the u.s. commerce said they were considering a 219 jet maker. turning to this week's wall street agenda, janet yellen is set to speak on wednesday. tomorrow auto sales. thursday, international trade data and the big one comes friday, the monthly jobs report. on the earnings front we'll get information on lenar, constellation brands and young china. >> we have the founder and ceo of joe y and reinserting it why? >> there is some hope we'll have
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it the reflation trade that we saw after the election, i'm -- i think that we will ultimately get some tax cuts. i don't think it's going to be as sweeping as we had hoped in the wake of the election in trump trade >> is that a surprise that the tax will be scaled back. >> expectations got so low in july that just the fact that there's talk about it and there's some hope and recognition that something has to get done, you've seen some expectations i guess what i'm saying is there's a little bit of limited up side. i don't think this is going to be as big a move as what we saw post election. >> you feel i think similar, you're not sure about 3%
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you don't know whether the tax cuts will be as broad as people think. you think the market has had a good run and you're more cautious now >> if you look at what has gotten us here, monetary policy or fiscal policy >> it used to be monetary. >> and i think that is where we have to keep our eye on the ball monetary policy is timing. i do think this is a positive, even if we don't get grand bargain, i think it is a positive yun theless, if the fed continues to raise interest rates and they continue to unwind their balance sheet, i think that has a much bigger impact on the equity markets i think the dollar and interest rates are ten year yield it will react more to fiscal policy i would react the market reacts to it. they outperform large caps by 500 basis points
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i think that is -- in essence it is reacting positively i think there's more certainty on the monetary policy than fiscal policy. monetary policy, we know they're going to start one way and use it as a balance sheet. >> the one thing i would say, too, is the economy has performed i think far it's the same solid footing i would have prepped fears even though we haven't seen that. so much of that didn't materialize and yet we're still seeing companies engaged, they're hiring, they're continuing with their capital spending i thought, boy, as we started to hope we would get tax cuts that we might see businesses pull back again that hasn't happened when we talk about how much more up side, there will be some up side i want to point out even when we
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didn't think that is. >> what happens in the next month or two let's imagine we settle around 25% corporate rate the individual cuts are modest fairly modest, 2000 tax cuts has that been priced in? what do the markets do when that converges around that? >> let me say about the economy and you can think about the markets. i think there is some up side in the economy. in that scenario i could get more confident about the economy approaching 3% in growth in 2018 i think as we've talked about, the markets have already digested a good deal of that i don't hope it's going to generate 4 or 5% growth. to some extent -- >> 3 is pretty good. >> no, and considering the trend
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growth is somewhere in there probably too the economy is performing well and will continue to perform well kind of getting back to what we talked about earlier the question is to some extent i think a lot of good news is in the market in part because of the economy is owing to the regulatory relief they're figuring without some of the tax cuts i think the economy is already purr forming well. usually gives you seven or eight. i don't think 14% return is repeatable you look at the emerging markets during that same period, they were up 2.5% annualized return when i have to decide incrementally where new money will be in -- >> '99 the market is fairly -- you do go back -- don't go to
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the lows to get the 14%. you're doing that from a 50% pull book in the market. that's 4 or 5% annualized return it could easily get back. >> it could keep going higher. momentum has been strong both from an earnings perspective >> i'm went those years. >> in the next decade. >> yes. >> did you see this? >> yes >> not since the mid '30s, the 1930s has a sitting fed chair not been reappointed by a new president. he's talking to her. they've talked. >> you know, i suspect that it -- i almost wonder in a way how much chair yellen even wants the job. i know she wants it, but i don't
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think she's on board from this administration >> you know, that's also a little bit of -- i don't believe that chair yellen is all that dovish anymore quite honestly now among the committee, she leans a little bit more towards the hawkish eye? >> who's it going to be. kevin -- >> it was like when people were saying they weren't going to endorse a candidate. i'm not going to -- >> right right. >> i told corker that morning, i urged him to run again. >> run again. >> did you see what happened >> it wasn't even eight hours. he said, i'm out anyway, thank you. >> thanks. thank you. when we come back, the nasdaq is kicking off breast
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cancer awareness month with the ceo of pro logic who is going to be ringing the opening bell this morning. first he will join us right here on the set "squawk box" will be right back. people don't invest in stocks and bonds. they don't invest in alternatives or municipal strategies. what people really invest in is what they hope to get out of life. but helping them get there means you can't approach investing from just one point of view. because it's only when you collaborate and cross-pollinate many points of view that something wonderful can happen. those people might just get what they want out of life. or they could get even more. what they want out of life. ronoh really?g's going on at schwab. thank you clients? well jd power did just rank them
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time now for an update on the mass shooting overnight in las vegas. nbc's jay gray is there. he joins us. what can you tell us, jay? >> reporter: yeah. the very latest is that police have identified the gunman in this case, 64-year-old steven paddock of mai skeet, nevada they're looking for his companion, marylou many who were attending the concert here, i just talked to a
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young man who was here without a shirt saying that he took that off to help one of the wounded there. we've seen others stumbling through with blood on their clothes and they told us that they, too, were troo ig to assist after the shots rang out. ral ralph 91 harvest they stormed his room on the 32nd floor of the mandalay bay hotel. marylou danley the numbers, they are grim, unfortunately will likely climb according to police. more than 20 dead. more than 100 injured right now. many of those in critical condition. transferred to university medical center which is the level one trauma facility here in the las vegas area.
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>> it was a long gun, right, jay? >> reporter: it had to be, i'm sure >> an assault rifle? >> reporter: well, when you talk to people -- as they were attending the concert, what they heard is automatic gunfire when you see the video, it seems to be the case he paused a couple of times. we don't have any specifics on the weapon used other than the sus smekt. they don't be want to jump to any conclusions. there ace a lot of evidence to work through what we have learned from my colleague pete williams who covers the justice department in washington is right now the suspect was apparently not known to federal agents or authorities
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and not known to any terror organizations. that's obviously something that becomes a question especially in a situation like this. early on it doesn't look like that's the case being you but a semi-automatic wouldn't be an actual machine gun. >> yes. >> that would be more horrific. >> and totally -- you can't buy those legally. thank you to jay gray. we'll keep you updated on the headlines in las vegas throughout the morning. according to the american cancer society, more than 1/4 million of u.s. cases of invasive breast cancer will be diagnosed. they're working to build detection and treatment for this disease that affects so many joining us is steve mcmillon the company is ringing the
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opening bell here this morning to kick off breast cancer awareness month. steve, great to see you. >> thank you great to be back. >> let's talk about this issue julia louise dreyfuss pointed out one in eight women will have it >> we're making progress and one of the buyingest issues don't have their mammograms. >> for years we've been working on is a lot of women don't want to go through the pain of a mammogram. joe loves things. >> look at the setup >> a new paddle that will transform the patient experience when you think about, you know, you're the only one will know it
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on the set. >> you don't understand this, but this is what they smush you with when they are trying to get a read. >> yes. >> my mom would joke, she was loading a dishwasher she said, this must have been designed by a man. i think most mammogram and we brought in a woman for the head of r&d the pain is caused by two things, the time under compression and pinchesing. >> this is a low tech solution all it is is a rounded edge. >> believe it or not there is a lot of science in the mammograms they can look back at your previous ones. we're the only company that's been able to do this it's a combination of low tech but also a lot of high tech stuff behind the scenes. it will knock the pinching
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we saw 93% of women who have had mammograms with this and it's just launched are finding it better and more enjoyable. >> when i saw this, that was my first question >> duh, where has that been. >> you're making advances like breast material, you can't get a good read. where do you stand on that >> we've gotten further out in front. we keep putting more and more science and clinical results and everything into our mammography machines we were the first 3d approved not only to have increased detection of invasive cancers, fewer false positives, but we're the first ever approved. and you have to tap it and it's
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so much -- so the clarity of our 3-d exam is providing greater detail there so the clinicians can get better. >> what's your market penetration? >> our market penetration is we're now -- we have over 4,000 installed machines in the united states. >> which takes up how much >> 40ish percent of the total narkt. in any city even out in the hinterlan hinterlands. they don't have the dense breast reduction. there is somebody marketing something that may not be the same. >> what's your goal in the next couple of years?
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what achievements overall? where would you like to see us. >> in the simple level my mom was diagnosed with breast cancer breast cancer as well as cervical cancer. breast cancer, you it is so much more difficult the implications the whole key especially with so many women today even in their 30s and early 40s, they're diagnosed. if we catch it early, it's so different than if we catch it late our whole theme obviously, it feels like it's selfish for our business in terms of wanting them to have moom mow grams. so we're trying to make that experience better for everybody so more women will not put it off. >> thank you for joining us. we'll be watching when you ring
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the opening bell. >> thank you. >> pink one is for you. >> unless you want to change. >> thank you it's jobs week in america. we're going to tell you what looks right foocber tor. we'll tell you what to expect with friday's data chris lu will join us next
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after how many quarters did you tell me? >> eight. >> a couple of really solid signs. trump trade is back on to some extent. breaking overnight, a gunman opened fire on the vegas strip i was listening to jason aldean yesterday. that is automatic fire that is illegal. it sounds like automatic weapon fire obviously not legal making the distinction. assault rifles you can find one it was about 10:08 the clark county sheriff said more than 20 people are dead, more than 100 injured.
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the suspect was shooting from the 32nd floor at the mandolay hotel. nbc is reporting that the suspect's name is stephen paddock from mesquite, nevada. i did you you can hear -- that is an automatic weapons fact how hard is that to do >> i don't know. i've never modified a gun. i've been in law enforcement an awfully long time so that did sound like an automatic. he had to get that weapon from underground somehow. >> but is that even possible
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>> i don't know. it came that way maybe i'm not a weapons expert its. >> we never know with this >> with the university of texas, we've had the long gun situations nobody knows what the motive is. from a very high vantage point shooting people indiscriminately kind of sounds like just a -- you know, i don't know, i'm not a psychiatrist, but just someone is totally out of their minds, right, mary ellen. >> not at all. >> >> not at all. >> so i had a reason on this
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the case in texas with charles whitman. i'm very familiar with that because it's similar that you had the top of the building that he chose for the shooting but you didn't have -- you didn't have this kind of a weapon and the shooting was much more methodical in texas. here it was constant and it went on for a protracted period of time the two results are very similar in that they wanted -- both shooters wanted -- i'm getting a lot of twitter some of it is, automatic licenses can exist from existing holders. you can get fully automatic what would we think it's all con geks tur at this point, right, mary ellen, right? >> how much planning was put into this event?
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and just from my watching it the last couple of hours, there was quite a bit of planning. one of the elements is did he specifically choose that room? in other words, did he come into the hotel and say, i loved that room, i wanted to psy the c-- picking the time of the concert to conduct the shooting right before it was nearly over. so there really was a lot of forethought that was put into this which goes to the person's state of mind. this person didn't snap. this was fine yesterday and decided to do all of this. it takes a lot of time to mentally be prepared to go in and do it let along the planning for it. >> we have heard they are looking for a person of interest, his roommate, a woman
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that we've been hearing her name reported as well what does that tell you if anything >> that's interesting and it's -- i don't want to spec cue light. it's going to be a pretty quick matter of time before they locate her she might either be -- she's hunkered down somewhere or she's suicided she's knew the -- >> we have an update coming from the clark county sheriff on the subject. >> we're doing the best we can to get our first responders back on their feet and responding and conducting a proper investigation and make sure we have the safety of this. my condolences go out to the families of the young ones who
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lost their lives we'll make it as easy as we can to get information as we know it i think it's important for you to see the fbi, county fire and commissioner sisilack behind me. it shows we have full support of all of this. >> [ inaudible ] >> no, not yet. >> [ inaudible ] >> i don't know yet because there's some officers from other jurisdictions that was attending the concert so i don't have an accurate number of that. >> [ inaudible ] >> one was critical but he's stable and one of my officers was off duty attending the concert and lost his life. >> naut naut. >> no. i don't have anymore details on the firearm. all we know is they were rifles and that's all i know at this point. we're executinexecuting.
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>> [ inaudible ] >> we're holding up and we're going to do the best we can. i don't want to say that's what we're paid to do nobody is paid to do what we're experiencing now they've done a fantastic job and we have to look out for their well-being moving forward. >> [ inaudible ] >> in the room in the room of the hotel we have officers at his residence and we'll be executing a search warrant there as well shortly. >> [ inaudible ] >> that's a hard question to answer at this point it's too early in the process. please give us time to do our job. thank you. i will provide you information on a regular interval.
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>> listening in to the clark county sheriff with an updating on the shooting overnight. updating the number of people killed in this incident to 50 at this point at least 50 people have been killed the previous number had been 20. we know that the injured had become above he's saying he will be updating us in two hours left -- lot of thing things. >> it's up there. >> mary ellen o'tolle has been listening. have you heard the results looking grimmer by the hour here >> well, yes it's horrific, and the number of dead is going to go up i mean, we all know why, because from the vantage point that the
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shooter had, he had no control over how many people were going to be killed nor did he care so those numbers are really going but for maximum lethality, you don't go up to the 32 bd floor what was the behavior. he wanted to murder people that's very difficult to get in and accept that because we have a tendency to say somebody who wanted to do that had to be crazy or insane and that's simply not the case. >> semantics by definition, it just depends on -- anyway, mary ellen o'tolle, we thank you for getting together with us on this. >> you're welcome. our guest host at the top of the hour will be martin frank link
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we'll talk monti going to be with us at 7:30 a.m. eastern, live from way in. live interview with the black knight gary player and i want to talk to joseph i can't wait for her to have that college experience that i had. the classes, the friends, the independence.
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. our guest host this hour, jonathan swan, national political reporter at axios and author of "the weekly sneak peek newsletter." i asked you on the air for all of your sources and you were really rude. you wouldn't give me any at all, but you've got -- your ear's always -- is it to the wall or to the ground? >> both. >> usually to the phone. >> usually to the phone. >> you have stuff that hasn't been widely disseminated for us this morning what are you hearing so much happened -- >> so much happens everywhere. >> i did report something last night which i think is interesting. >> i saw that this morning. >> earlier this month there was a meeting, typical meeting in the oval office about the south korean trade deal with the u.s.
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>> right. >> they're hashing it out. it's senior officials and the top trade advisor. you need to get me some concessions. go to the south koreans, get me concessions. you have 30 days get me something i'll tell the south koreans they have 30 days he goes into this -- you say this guy is so crazy he could pull out of this deal any minute any minute he says, and i might i might. i might pull out tomorrow. you don't know. >> he's not kidding. >> you don't know if it's 10 days, 30 days. they have this roundabout conversation and basically the end point is my adviser goes back to the south koreans, they're still in negotiations.
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trump's letter makes it feel crazy. he makes it feel that he is that crazy as often that trump -- >> keeps us guessing. >> yeah. >> remember tom friedman was on and i expected him, you know, anything he says about trump was going to be off balance. our enemies are our people we're negotiating with. >> there is a major down period. >> what happened you had rex tillerson who has been at pain to tell people there is a diplomatic part to success in north korea through the chinese led by the state department and he reveals for the first time on sat that
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they've opened those although mike said that caught the white house off guard. they weren't expecting that to become public either. >> that is my understanding. trump's relationship with rex tillerson as we've reported is not the best relationship in the world. it doesn't get much more dismissive than, save your energy, rekts. which is what trump said yesterday. don't worry about your diplom y diplomacy. from the state side there wasn't much. >> right trump's been trying hard to posture at least in the way it looks to the north koreans we're tired of talking we've had four administrations talk to you and there are probably more than four administrations. the talking is over and the guy says, you know, we've got three different channels open. trurk is like, what have i been
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doing the past month i don't think any president would say there's no back channels. >> you hear records that the north koreans are moving missiles. >> but that's stepping on. >> i would say that, yes. >> i wouldn't say it unless you would say it >> that's why i'm asking >> going to be with us the rest of the hour. when we come back, we'll be talking jobs in america. we'll tell you what to expect from friday's employment report. tomorrow on "squawk box", warren buffet joins us live from omaha. we'll ask him about the gop's tax plan, well's fargo hour and it's an interview you can't afford to miss starting tomorrow at 8:00 a.m. iron. eastern. stay with me, mr. parker.
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>> welcome back, everybody the september labor report is coming out this friday, and we could see the impact of hurricanes irma and harvey joining us is former deputy labor secretary chris liu. chris, what do you think of just in terms of where we stand in terms of jobs and what impact those storms could have? >> well, i think you're 100% right. the reporting period is the 12th
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of the month, and that comes a couple of days after the hurricane made landfall in florida. we're probably going to see residual effects from houston as well longer-term, you know, what we saw post-katrina back in 2005-2006 is that there was a dip down, but then there was kind of a rebound upwards, as you have rebuilding of homes and businesses start to ramp back up again. i think it's fair to say that this month's jobs report is probably an abhoration, and we maybe shouldn't read too much into it. >>. >> in temz of where we've been going, i mean, the numbers have been very strong for a very long time how healthy is the job market? >> this is going on since 2010 it is notable that 2017, the numbers have been a little lower than last couple of years. we're still around the last month was 156 where i think we're averaging around 170,000 jobs it's still a healthy pace for an
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economy at this point in an economic recovery. you know, the challenges we say every month is really wage growth it's been about 2.5% again, that's good, but it's not enough to make a meaningful difference after a long period we'll be looking at that number again this month, but, again, hard to read too much into this one month. >> jonathan swan here. can you talk about the unfilled jobs my understanding something in excess of six million. where are they what's the status there? can you just talk about that in context of the overall labor market >> it's a great question for the last couple of years we've been averaging about 5.5 million, 6 million open jobs about 1 million of them are in the i.t. sector. what is interesting during my time as a deputy secretary of labor, when i traveled around the country, i met with -- saying, yes, i'm ready to hire, but i can't find enough skilled laborers one of the challenges and one of the wonderful bipartisan things
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that's happening is trying to invest in job training and the president has adopted the obama administration's prioritization of apprenticeships unfortunately, they haven't put enough money into that program, but we do certainly need to figure out more ways to train people and upskill those people who are already in the job market to fill those six million open jobs. >> chris, i want to thank you for your time today. >> thank you when we come back, our guest host for the rest of the show will be martin franklin. he is the former executive chairman at jarreden he will talk to us about his next venture and the health of the consumer right now then house majority leader kevin mccarthy will join us to qulk taxes at 7:30 a.m. eastern ti"sawk box" will be right back. n is what they hope to get out of life. but helping them get there means you can't approach investing from just one point of view. because it's only when you collaborate and cross-pollinate many points of view that something wonderful can happen.
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those people might just get what they want out of life. or they could get even more. there was no magic up hisgends. sleeve. what they want out of life. he didn't have wings, or a cape. he was but just a man... with the will to go beyond.
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breaking overnight a gunman opens fire on a music festival in it las vegas, leaving over 50, over 50, dead and more than 200 injured. we are on the ground with the latest straight ahead. politics is in focus as well, as is always is, as lawmakers look to tax reform house majority leader kevin mccarthy will join us to discuss. wall street opens a fourth quarter with stocks on a record run. the second hour of "squawk box" begins right now >> live from gt beating heart of business, new york city, this is "squawk box." good morning welcome back to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernan andrew is out today. joining us in studio this morning, martin franklin, who is the founder and ceo of mari pos
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a capital. he is our guest host for the next two hours also, jonathan swan of axios, who has been with us for this past hour and is sticking with us for just a bit more >> we continue to see people stream through this area on foot many of them have been at this concert. the situation on the strip still very active at this point. >> jay gray showing us what's been happening at least 50 dead at this point over 200 hurt. those numbers have racheted up pretty dramatically every time we hear back from the sheriff's
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department with an update. the sheriff will be back in the next couple of hours with another update, but this easily makes this at this point the worst mass casualty shooting in u.s. history with at least 50 people dead. >> from what it looks like, a lone gunman. this year they're looking for his roommate, however, and he is deceased obviously, they got him on the 32nd floor if you hear some of the video, it's automatic weapon. it's been illegal since 1989 i'm seeing all kinds of -- some were grandfathered in, and there are ways of modifying a semiautomatic. you can hear how horrific the automatic fire it's much more devastating than, you know, than single shots.
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it's frightening it's not much known at this point about the shooter. a white male, 64 years of age. i'm seeing. >> there were 49 people killed there. again, at this point over 200 injured. we have been talking just a half hour ago about how 100 people at least had been injured these numbers have racheted up rather quickly again, a gunman opening fire at that music festival on the vegas strip. the gunfire erupted at the conclusion of the harvest music festival it was a country music festival. singer jason aldine was on
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stable at that point it happened 8:00 p.m. local last night. the clark county sheriff, who we've heard an update from just in the last half hour or so, said that more than 50 people are dead, more than 200 people are injured, and, again, that would make this the worst mass shooting in u.s. history >> the only explosive device that the police used was going in after the shooter in that room >> they were -- i knew jason aldine was playing i wasn't going to be listening at the time, but i'm a fan, and just shocking it hear that that's the location where something like this would
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happen >> you can hear in the videos people at the festival as the gunfire erupts saying, oh, it's firecrackers yeah >> slowly realizing what's happening. >> let's shift gears and goto washington now president trump making headlines on twitter over the weekend. kayla joins us now with more good morning, kayla. >> good morning, joe, where we are waiting for the white house's response as well to the las vegas shooting, and any changes to the official schedule, as one might imagine there would be, following the deadliest mass shooting in history. the white house had hoped to refocus the conversation this week on its economic agenda. today there was an event planned called "cut the red tape." the white house was expected to tout some $300 million in cost savings from federal rules the trump administration has scrapped so far. we're still waiting for word on whether this event is still on, but there is a budget expected to be marked up in the senate this we can week, paving the way for tax reform details to get filled in.
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on "meet the press" he refused to commit every member of the middle class will see his or her taxes cut. >> we'll go through the details, as we have we'll have full transparency the president has been very clear, and i've been clear from the beginning. our objective is not to create tax cuts for the wealthy our objective is about creating middle income tax cuts >> the most surprising turn of events over the weekend, though, was a very public undercutting of the secretary of state, rex tillerson, by the president over north korea. on saturday secretary tillerson, while in china, preparing for the president's november trip, disclosed there are two to three diplomatic channels currently open with pyongyang, which has called the president's comments a declaration of war while tillerson was en route back to the u.s. yesterday, trump tweeted tillerson is
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"wasting his time" on diplomacy, and rex, save your energy. the president's diplomatic efforts will turn this week to puerto rico. a u.s. territory, following a weekend war of words with the mayor of saun juan over the time it's taken for relief to get to the island, following hurricane maria. they said at some point there will need to be discussion of how the clean-up there, joe, is funded back to you. >> okay. thanks, kayla. coming up, house majority leader kevin mccarthy at 7:30 a.m. this morning. he will be our guest our guest host this hour jonathan swan, national political reporter at axios, and author of the weekly sneak peek newsletter martin franklin, founder and skoer ce of mariposa capital. our discussion about consumer brands and how business is going rings a little bit hollow at this point, martin i guess, you know, like all of
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us -- >> it's shocking >> nothing about motivation or -- we've talked to people -- this is planned. this is not someone who is insane i think we're arguing semantics because someone that has by definition -- wouldn't you think he doesn't know any of these people they're out trying to enjoy a country music concert. >> from that distance i'm not sure they could even see them. >> from this day and age the reason we ask the question about what the motivation is just over the weekend we saw more in marseille. we see this continuing littany of things that are tied to an ideology or something. even in this country we wonder
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about domestic terrorism, what it -- what is the -- >> back then you didn't need an ideology for a strategy, but right now who knows what it's early at this point with that in mind, martin, you have some guests for us today as well. >> mike will come on the show, and he was the fellow who bought, you know, under his
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leadership, acquired java from us about a year and a half ago i know from the portfolio that we had and the portfolio that he has, he has a pretty good view on to what's going on with the consumer >> do you remember -- when was the last time you were on? it wasn't quite a year, i don't think, was it? >> probably nine >> what have you done? any changes in mariposa? >> mariposa is the holding company for things that i do >> what have you done? >> we're busy. >> yeah. >> well, the main thing that i'm doing is working on platform specialty products those are the two public companies that i chair one and co-chair the other, and got a new vehicle that we're all poised on this week to put jim lily, who was the ceo of jarden, and eddie and ashton, who has been as well for about 27 years back to work that's what we're -- >> you've seen retail. that's maybe changed a little in
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the last have you been surprised at how quickly things deteriorated. >> we saw this coming. probably in some ways it's gone a little slower than some companies that managed to hold on that i thought would be -- >> really? >> they're still -- >> like what which ones >> sears would be one example. i mean, it's had longevity longer tharn i think it's been a steady decline >> i think you have retailers paying rent that are not sustainable because at the end of the day if you have a shrinking number of dollars going into the retail environme environment. it's not a sustainable scenario. it's going to be ugly. you now have retailers going into lawsuits with landlords
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just to go dark. not even paying the rent it's not that they don't want to pay the rent it pays them more money to just go dark and leave the location and continue paying the rent than it does to keep people in there. i think it's a pretty tough case to insist that you keep employees and the lights on and everything else. >> are there particular categories that are more resilient in terms of the physical stores? >> yeah. i mean, i think anything with differentiation. anything with customization. premium.
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>> you get a sense for what fits you there, and then most of the stuff you can -- >> if you want to buy prada, whether you buy it on-line or you buy it in a retail store, you're still buying prada. i think that creating an emotional connection for brands is very important. you'll hear, you know, someone like mike, who is really on the cutting edge of innovation trying to reinvent brands that have been there for a long time in many cases. that's going to be the name of the game >> i vaebts heard you say mate
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>> you said -- is that how >> i personally -- >> you -- >> i blame you >> i can't do like a standing in kwoou at the bubbler next to the rubbish shed >> it's shrimp on the barbie for me >> all right back to, unfortunately, the -- the real world it's not a great place this morning for what's happening president trump is tweeting. "my warmest condolences and sympathies to the vimtz and families of the terrible las vegas shooting god bless you. i haven't seen any subsequent details. a couple of nights ago >> there are 50 people dead. we will have an update in just a bit. in the meantime, let's tell you about other headlines that we're following this morning today is the first monday in october, and the kickoff of a new supreme court term among the major business cases on the docket, one that
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evaluates the legality of agreements requiring workers to arbitrate disputes with employers individually rather than a class action lawsuit. walt disney, a cable operator, al altice, have reached an agreement that will keep disney and other cable programs on the cable system it was a case in which the two sides had disagreed on the fees the cable system should pay with declining rates among the point of contention. also, two economic reports kicking off that will be -- of what will be a busy week for economic data. culminating and friday september jobs reports the institute for supply management is out with its september manufacturing index, while the government releases august construction spending both are out at 10:00 a.m. eastern time zblierngts also, a political crisis in spain. catalonia has overwhelming voted from independence from spain with 90% of the over two million votes already counted. hundreds of people have been injured as spanish riot police attempted to try and stop catalonia voters
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spain's constitutional court banned that vote >> get a check on the markets this morning u.s. equity futures have been solid. most of the morning. up 45 points now on the dow. the s&p indicated up three the nasdaq up almost 13 overnight in asia. markets in hong kong and shanghai were closed for a public holiday the neek fleek and the kospi closed slightly higher european equities were firm, and this morning mostly green across the board. as you can see except for spain, which is not surprising then as you take a look at crude, a little weaker on the margin this morning. down almost 2% back below 51. when we come back, we'll have more on politics. the markets and your money with today's guest host martin franklin and jonathan swan plus, the latest on the shooting in las vegas overnight more than 50 people are dead more than 200 people are injured. we'll have a live report coming up "squawk box" will be rhtacig bk.
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>> gunfire erupted at the conclusion of what's called the harvest music festival while singer jason aldine was on
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stable at 10:08 p.m. local time last night the clark county sheriff now saying more than 50 people are dead more than 200 injured would make this the worst mass shooting in u.s. history the suspect was confronted by police and is now dead the sheriff said rumors of other shooters or explosive devices are false. we'll get an update in just a little bit meantime, turning to this week's wall street jaepd. janet yellen is set to speak in st. louis on wednesday as for economic, we have the ism manufacturing index. tomorrow we have auto sales. thursday it's international trade data, and then the big one comes on friday. the monthly jobs report. on the earnings front this week, we'll be getting results from lennar, and yum china. >> house majority leader kevin
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mccarthy will join us coming up. we'll talk tax reform, health care, and much more. "squawk box" is coming right back
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a gunman opened fire at a music festival on the las vegas strip. jay gray joins us now with more. good morning again, jay. you're absolutely right to say -- i hadn't heard the audio, but that just begs the question, where the heck do you get something like that, jay where would you get a weapon like that? >> right and it's something that clearly was in the works for quite some time if you are going to have that kind of firepower it's unbelievable to hear just the rounds in succession going off, pausing a few times, for what appear to be a reloading
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process before police burst into that room on the 32nd floor of mandalay bay right now the scene still like we talked about earlier, locked down, the strip. it will be for a long time here. we continue to see people who are part of the concert crowd streaming through this area. tearful reunions with the family a few minutes ago that had been separated during the chaos here. others who had blood on their clothes to try to get help victims of the attack. we have still seen in the last 15 minutes or so ambulances with full strobes and sirens moving through from the scene, which would seem to indicate they are transporting patients here we are being told by las vegas police that the companion they were looking for, a woman they believe they've identified as well as two vehicles that were used or at least were of
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interest to investigators. they've talked to paddock's family members they're going through his home obviously through the hotel room here trying somehow to piece together something that's going to be difficult to understand, regardless of what the evidence says >> all right thanks, jay. we'll be checking back with you this morning, but we appreciate your reporting for us from the scene. >> sure. >> coming up, we do have house majority leader kevin mccarthy another check of u.s. equity futures, which have been in the green for most of the morning. all morning, ifan ct it's what this country is made of. but right now, our bond is fraying. how do we get back to "us"?
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breaking news overnight. a gunman opening fire at a music festival on the vegas strip. gunfire erupted at the conclusion of the country music festival known as the harvest music festival while singer jason aldine was on stage. that happened just after 10:00 p.m. local time last night the clark county sheriff says that more than 50 people are dead and more than 200 people are injured. that makes this the deadliest mass shooting in u.s. history.
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the sheriff said a suspect was shooting from the 32nd floor of the mandalay bay hotel and that that suspect was confronted by police and is now dead sheriff also said that rumors of other shooters or explosive devices that had been circulating widely on social media are false. officials have identified the suspect as 64-year-old stephen paddock, a local resident, and they say they have located his roommate now, a woman named marilou danley they didn't say if she was suspected with involvement of the attack police have been trying to locate her listening to clark county sheriff joe lombardo this was just within the last hour >> we're bringing in all the resources of the fbi to assist us in this investigation in particular, to the victim witness advocates and their csi folks to help us process the scene and insure that we are getting all the evidence we can
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possibly obtain. >> joining us on the squawk newsline now, jeff lonza, retired fbi special agent. jeff, we're looking now. we just saw scenes of where the concert was in relation to the mandalay bay, and there is some conjecture this did take some planning, and i guess it's starting to make sense to me that you would need to know there was going to be a concert, and you could set yourself up where you wouldn't be -- you wouldn't have to pass through any security, and you would have a vantage point on the 32nd floor with thousands of people all in one place you know, you would think you could do that almost any time on the las vegas strip, but you wouldn't, you know -- it would be scattered they're all together waiting.
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>> as you said, the planning probably took place well before to get a room with that vantage point, and the weaponry to get in there to do this mass shooting that would take some advanced planning for sure. >> there's a method to the madness, which is even worse you know, there's sporting events you have thousands of people, normally there's not a vantage point like this where you could set yourself up. at a football game or elsewhere.
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i mean, this is kind of unique, isn't it, that it was an outdoor venue with -- i keep going back to when i was young and that horrific shooting at the university of texas. also from a tower where people are below you and, you know, near sitting ducks >> that's right. any time you have a vantage point like that, and, you know, you mentioned football games or sporting events. you know, have you to get inside the event. >> right >> for security at all the events that -- where you have to go inside a perimeter. well, here's there's no real perimeter inside the perimeter of the concert yes, there is probably security there. you have this vantage point from the hotel. >> the horrific paris -- that was a concert. not as many people, but you had to get inside from a vantage point, but this you didn't even need to get inside you were -- you just were waiting up there for -- sounds
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like he was up there for a while. the concert was almost over. >> yeah. when you have -- what appears to be a lone wolf, they don't know for sure, but you -- he is not talking about it the roommate may be a key, but, you know, when you have someone that goes crazy like this, there's no way to predict it from friends, associates if he is truly a lone wolf, he is not going to be talking too much about it. >> yeah. tough to -- tough to prevent this too it's been pointed out a lot. we have a lot of freedom in this country.
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>> definitely it made it worse you can hear it in the audio jeff lanza, thank you for coming on this morning. appreciate it on quick notice. >> you're welcome. you're welcome >> okay. >> every segue is going to be awkward. president trump will comment on
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deregulation efforts this comes just a couple of days after the gop rolled out a new tax plan joining us now to talk taxes and more, house majority leader kevin mccarthy i knew we were going to talk to you as of yesterday. i was excited to hear your -- what we were going to be discussing, tax reform things don't always work out that way we're going to do it, but initially your thoughts and prayers are with the people in las vegas, i guess, this morning. >> very much so. it almost seems inappropriate to talk tax reform right now, but it almost seems like words are not enough when you look at 50 individuals, 200 people wounded. one of those individuals wounded is an off duty police officer from my hometown there were others there. the thought of what this man had to go through to get the right room, to have the vantage. then when i look at the work of what individuals did just on the ground that were attending, how
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they treated individuals, how they got to that room fast enough, you think, within the 32nd floor i mean, it just is devastating as you wake up to this kind of news yes, my thoughts and prayers are with them, but if we could do anything more, we will >> and, you know, we're never going to get -- there were things happening over in europe recently we've almost been conditioned to think that that it's not totally nonsensical where it just -- or senseless. in this case it doesn't look like -- you know, it's early we have no idea. this doesn't look idealogical or -- it's domestic terrorism by definition, but i don't know it was a country music festival, and it's a lone 64-year-old white male you know, just back to, you know, the old days where it would just be -- you think it's an insane person that's killing indiscriminately for no reason >> i know it's early
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you don't want to speculate. sometimes you see these home grown, and maybe this doesn't seem to be the case. for the illness of this individual, and the evilness of this individual to plan that out, knowing the number of people below from the vantage up above, it's senseless. you try to protect individuals, but each time they do something like this it seems as though not only just to murder innocent individuals, it's to harm our way of life of how we go about doing it it is devastating this morning to be able to go through this, and i just for all those in las vegas. i know las vegas is a city that people around the country go to, so i know so many cities across america are going to be feeling this exact same thing. >> let me ask you a really -- a very specific question about tax reform you can get some general comments as well >> yes >> something that changed my viewpoint -- not viewpoint, but
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gave me some perspective on the state and local tax deduction. it was in the "wall street journal" over the weekend. that's an important part of this whole -- of this whole equation. it's 1.2 trillion of the tax savings that you are able it do, and it's going to be -- the journal is basically imploring republicans not to listen to the rhetoric that, you know, in the blue states that it's going to be, you know, more painful that you really need to do that. >> it wasn't to write 50 individual plans for each state. it was to be fair across the
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nation if we write a plan that's fair across the nation, you write one tax code unfortunately, when you have states such as california, which i come through from and also new york, they want to raise their taxes with the argument that let's let other americans across the country pay for that, in essence, giving you a loophole if you write a fair plan, i think that principle plays with everywhere else. when you look at the end of the day of what we did in our plan, by doubling the deduction, the number of individuals who actually itemize, it will not touch everybody in that state. it's probably a few. we're not done crafting what that means i know the acronym is salt, the state and local tax. there's a way i think when you look at what kevin brady does at the end of the day, the majority of all those individuals in the state will actually have a tax cut. it will also change the policies in california they continue to raise taxes to build a train to nowhere. they waste money throughout. they do that based upon making a
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loophole in a tax basis across america making it unfair for the rest of americans to pay for their mismanagement of their own state. >> jonathan swan here. that all sounds good, but you are a very sharp political strategist you know that 12 of the most -- of the 32 most competitive republican house districts are in those four blue states. you know the democratic majority runs through those four blue states you know a lot of your members are worried about this how worried are you about the political fall-out from including the state and local deduction? >> well, jonathan,ing i know we make policy in the world of politics it could be the very best policy, but do you have enough votes to go through? >> that's my question. >> what i truly believe here is you have to take the total part of a tax cut -- of the tax cut of building those forward. if you are going to look and argue to save one loophole, that
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becomes a real problem that's why we had last week -- we didn't have votes during the day. we sat back. we took five hours walking every individual through the four individuals jumped to conclusion, and to never say what you will not do look at the bill in the entirety of the bill, and talk to your constituents about it. yes, this is going to be an area that i think we're going to have to work through as we go, and kevin brady is not done in the crafting of this area. i believe at the end of the day people will like what happens coming out >> everybody, the leader should read that piece in "the journal" if you haven't seen it, because you are going to put the democrats in the position of arguing for people that itemize their taxes. i mean, the people that are getting hurt by losing the state deductions are all top 10% almost all of them it's only people who itemize, so the people that were really crying about here that it's not fair, they're not the people that you're trying to help in
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the first place really, right? >> they'll be arguing, yes, for the highest income they'll be arguing for a loophole they'll be arguing for the rest of america to subsicidize california and, new york's spending policies. >> a lot of the democratic administration has some of these places, you know, in -- some of the states into the position they're in right now >> for people making $150,000 or $300,000 -- that may sound like a lot to some people, but in new york maybe not quite as much does that sound right by the math that you -- >> no, because i don't know how somebody wrote that if we haven't put in the income
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brackets yet of where they go. that's speculation that's somebody writing something when they don't have all the facts. i would say let's wait and see what comes out of weighs and means. remember, we took seven brackets, and we lowered them to three. we took the 10%, and took it to zero 15 to 12 we made it competitive around the world, which your view was no more better than anybody else the 4 trillion sitting overseas, letting that come back we make small business down to 25%. the lowest it's been in more than 80 years. you know the job creation that will be. what we're talking about today is what people are arguing for a loophole we ended loopholes that actually most people talk about before you write something and make it fair for all americans not make one plan for one state and another plan for another wait until we put the income levels into those brackets, and then we can analyze. at the end of the day we doubled the standard deduction, which we let families keep 24 -- their first 24,000 tax-free.
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i think at the end of the day the majority of americans here, especially the middle income, are going to be excited about what's happening everybody else in america is going to be very excited because the growth level is going to come up. more jobs are going to be created. >> right >> we're going to sit back and look at this energy and wonder why we had an argument over a loophole when we're setting back and holding the rest of america back from around the world >> in the end later the -- it's going to be -- the democrats have been demagoguing corporations for however long. you know, you didn't build this. hillary clinton said don't let anybody tell you corporations -- where that came from don't let anyone tell you they create jobs. they do. i don't know whether the public connects the dots because only 12% think that you should cut taxes on corporations. you have a sales job to do, or you got to get your own party members in the senate -- you got it give them some backbones because they didn't have any on
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health care. not all of them. you p, the amount that you needed if you are not going to convince the public and your honor it them around, where all these guys have cover in their constituencies, then you got -- you still have whips around there? you guys got -- some of you guys are called whips they're pretty ineffective or have been recently, but you got to keep your own guys in line if this really is good for the country. they got to know that, and not wimp out >> now, let's be honest here in the house the health care bill went through. >> i know. i'm not talking about the house. >> i have more than -- >> i'm talking about the senate. >> i'm very concerned about them as well. no one said tax reform would be easy what happens when you first put out a tax plan, especially if it's fair, think of all the loopholes that have been created through the years because our tax code was -- the rates were so high. they wanted to put these specific loopholes in to protect certain industries or certain states well, now when you change all that, yeah, people are going to fight. have people look at the entire
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bill itself. have those letters work through the process of where we're going, and at the end of the day measure based upon is this going to put america in a stronger position to compete around the world? is this going to give your children the next generation a better opportunity than they have today small businesses create more jobs than anything else in america. this is going to lower the rate to 25. the lowest they've been in 80ers yoo. i created my first small business when i was 21 years old. i don't know if i could do that same thing today >> all right leader mccarthy, on that point, you're a former small business owner. do you believe the borrowing is an ordinary business expense, and do you believe that small businesses should be able to continue to deduct the interest on their debt? >> well, that's one element we're continuing to work through. yes, it takes -- it takes borrowing to get into small business it takes capital in there. expensing is very important in a small business especially when i want to invest and make my business better.
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i want to be able to expense that out and not wait five years. that makes me make that investment going forward yes, there's an off shoot on both of how we deal with that in this tax code, and i believe you will you'll be able to do it to -- >> where is that paul ryan, didn't he originally want to eliminate it, and now there's -- you are going to cap it what's going on there? >> there are still elements in there where weighs and means -- weighs and means has different elements in here to work through and finalize the details that's one of the elements that they're working on it's expensive look, i know it takes capital for a business, so i want to look at that not all businesses are the same. especially when it comes to real estate and others. that's what kevin brady has been sitting down for the last year working through as we move forward. also, expensing.
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>> thank you for having me on. a sad day, though. >> yes thank you. >> all right president trump just tweeting
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"my warmest condolences and sympathies to the victims and families of the terrible las vegas shooting god bless you. coming up, police identifying the suspected shooter in the deadly attack in las vegas overnight. more than 50 people killed 200 hurt the latest wn rurheweetn. uld bg more range of motion. i'm fine. okay, well let's see you get up from the couch. i'm sorry, what? grandpa come. at cognizant, we're uniting doctors, insurers and patients on a collaborative care platform, making it easier to do what's best for everyone's health, every step of the way. you may need more physical therapy. ugh... am i covered for that? yep. look. grandpa catch! grandpa duck! woah! ha! there you go grandpa. keep doing that. get ready, because we're helping leading companies see it- and see it through-with digital.
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breaking news. more than 50 people are dead, and more than 200 injured in the deadliest mass shooting in u.s. history. the gunman opened fire at the harvest music festival last night in las vegas, and he shot concert goers from the 32nd floor of the mandalay bay hotel. police stormed the hotel room, confronted the suspect who is now dead he has been identified as 64-year-old stephen paddock, resident of mesquite, nevada officials have located the suspect's roommate now a woman named marilou danley they didn't say whether she's wanted suspected of involvement in the attack. here's police sheriff joe lombardo >> we're bringing in the fbi to assist us in this investigation.
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in particular to their victim witness advocates and their csi folks to help us process the scene and insure that we are getting all the evidence that we can possibly obtain. >> we will have more breaking news on this story as we continue in the meantime, take a quick look at what's been happening with the futures this morning. they've been up despite this news dow futures now indicated up by over 60 points s&p futures up by 4.5. the nasdaq up by 17. this comes after the s&p 500, the max both closed at new records on fdariy. again, we'll have more breaking news in just a moment. we come into this world needing others. then we are told it's braver to go it alone. ♪ that independence is the way to accomplish. ♪ but there is another way to live. ♪ a way that sees the only path to fulfillment-
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>> we want to thank jonathan swan who has been here with us from axios on a difficult morning. jonathan, thanks for your time today. it's about an very good seeing you. folks, when we return, we will talk more about the gunfire that broke out on the las vegas strip overnight. we will give you the latest on the investigation, give you more details when "squawk box" comes right back [vo] quickbooks introduces jeanette.
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breaking news. hundreds injured and more than 50 people dead after a shooter opens fire at a las vegas music festival it is now the deadliest mass shooting in u.s. history we have a live report from the scene coming up. the final hour of "squawk box" begins right now live from the most powerful city in the world, new york. this is "squawk box." good morning welcome back to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm joe kernan along with becky quick. andrew ross sorkin is off today. our guest host this morning is ma
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martin franklin you know him maybe from jarden i know you know some of his products that he has been involved with. i have -- did you see that thing? >> shoe fly. >> shoe fly. i have a -- with my picture on it did you get one of those >> i did with your picture on it. >> with my picture on it >> yeah. >> good. >> i have one in my kitchen with pictures of both of you. >> we're business news network, but there are times where business news doesn't really seem appropriate, and this is one of those days. you heard at the top of the hour, breaking news. >> at least 50 people are dead and 200 injured. police say the shooter targeted people attending an outdoor concert featuring country music stars, and jason aldine was actually on stage at the time.
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the shots were fired from a window of a hotel room on the 32nd floor of the mandalay bay resort, which was overlooking the concert, and the suspect had what sounds like some type of automatic weapon it sounds like some type of automatic weapon this rapid fire. the shooter has been identified as a local resident, stephen paddock. he was shot dead by police they went up to that room. they also say they have now located his roommate, marilou danley, although officials are not saying or maybe they don't know if she was a suspect -- or suspected to be involved in the attack president trump has been briefed on the situation mgm resorts, which owns mandalay bay, issued a statement saying it was working with law enforcement and would do all it could to help those that were affected and involved. >> joining us right now on the squawk newsline is tim, the
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commissioner of new york suffolk county police department and commissioner, thank you for calling in this morning. i realize that this is not your district, but as a law enforcement official, what do you think when you wake up and hear these reports >> every morning when we wake up, we hope we don't see the intelligence bulletins come through. as you mentioned, it's likely the worst mass shooting in american history, and our hearts -- our thoughts and prayers go out to all those impacted, including las vegas law enforcement, who, by the way, did an outstanding job neutralizing this threat in the time that they did no question it's hard to believe that no question this could have even been worse if not for the bravery of law enforcement in las vegas. >> we have talked about weapon involved as joe mentioned, an automatic rifle. you can hear the rapid fire of what happens there
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you know, automatic weapons have been outlawed for some time in this country, but there are some that have been grandfathered, and there are others that can be kind of rigged to fire more rapidly. what do you think about the weapon itself? >> it's still a little -- it's a bit unclear as to what type of weapon it's never good when there are automatic weapons in the hands of those who are not in the military or law enforcement, and this is exactly why. this scenario is exactly why it's important that law enforcement continue to acquire equipment so that they can respond to incidents such as this oftentimes we are criticized for acquiring equipment that the military no longer needs, such as ballistic helmets, other types of gear to protect our police officers, and it's because we have to respond to
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situations like this that we need we hope we never have to use that equipment, but last night as shooting shows why it's necessary a police department have it in the case of a situation like this. >> you know, we realize that you can't protect all areas all the time, but an attack like this probably hadn't entered the minds of a lot of people, a lot of civilians at least, thinking about being in a stadium or an open air arena and being vulnerable from above. it's a new situation >> that's right. in situations like this, unfortunately, law enforcement have to think about, and that's why we do an enormous amount of training to respond to active shooter scenarios. as you said, quite astutely, we can't be everywhere at once. you never are going to be able to prevent all attacks like this, but how we respond is what we can control
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oftentimes a coordinated effective response can dramatically reduce the number of casualties. moreover, an effective response can allow us to render aid to those who are wounded but not killed and save even more lives. that's why many police departments, particularly the suffolk county police department, do active shooter drills on a regular basis, and we involve the private sector. we involve other agencies that are involved in our coordinated response we work with our local fire department we work with our industry. we work with our schools we launched a new program where we're constantly providing new training opportunities so that we can be as prepared as possible for a tragic incident like this. >> you mentioned already that the first responders there did a pretty incredible job of -- what about it has been something that's impressed you what did they do right what were they on top of
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>> the notion that they were able to ascertain the whereabouts of the shooter so quickly is outstanding the fact that he were this able to neutralize the threat after ascertaining his whereabouts is outstanding. this is a situation that obviously is very chaotic. a lot of information is coming at police in a very short period of time. a lot of intel from residents, from citizens on the ground. 911 calls, people on the scene social media, et cetera. all law enforcement agencies right now are tipping their hats off to the las vegas sheriff's office and those who were involved in responding, and, again, our thoughts and prayers go to all those impacted
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>> commissioner sini, thank you for your time today. tim sini, the commissioner of new york suffolk county police department >> we're getting a statement from mgm resorts ceo jim muran mgm owns the mandalay bay. muran says our hearts and prayers go out to the victims of last night's shooting, their families, and those still fighting for their lives we are working with law enforcement and will continue to do all we can to help all those involved i'm worried about what the final number is at this point. it's just -- it started at 20. now 50 at least 200 injured >> injured we've been getting updates about every two hours from the clark county sheriff there's probably another update coming in the next hour. maybe a little less time than that when we have heard from him, those numbers have escalated
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>> and listening to your last interview, so they acted as quickly as possible and it could have been much worse, we're hearing right now, and i don't know what this means for concerts i don't know what it means for h sporting events, but you can't protect all soft targets, but, you know, usually we've heard lately that they're going to wait until people leave. as they're gathering to go into an event, you sort of harden the interior of the stadium or the concert with all you can do, but this is a completely different strategy to be outside of the venue and perched on the 32nd floor looking down into a concert. that -- >> as the commissioner pointed out, not different from what they have been anticipating, but probably different from what average civilians had been anticipating >> such a cowardly act i just don't know how you
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protect against it >> well, we do talk about tax reform and business issues, and our next guest, you know, we probably talk to him last week about coming on, and let's bring him on it's a day where it's tough to talk about issues other than, you know, our thoughts and prayers with what's happening in las vegas, but chairman and ceo mark wineberger is with us also chairman of the business roundtable fiscal policy committee, and mark, we'll eventually get to talk about tax reform, but at this point none of us can really get our minds around what went on in nevada overnight. >> yeah. it's tough it's tough to focus on other issues when this is going on isn't it, joe? you are doing a great job. my heart and prayers go out to
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those affected we all mourn this is just senseless it happens way too often >> we had leader mccarthy on earlier in my main area of interest was on what is able to be sold, not just to the senate. the gop senate but to the american public which has some say in a lot of issues.
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it's got to be a committeetive rate it's got to be a competitive international system, and it has to be middle income tax relief i think it will. i think this final plan will have all of those things some of the reviews we've seen by various people trying to estimate this, makes no sense. they really need to get this done, and i think they will. >>. >> do you think it can be that 1.2 trillion depends on state
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and local taxes. can they -- can that stay? i mean, i already -- you p, there are republicans immediately in the blue states, immediately jumped all over that can they -- you can bring them on board, do you think >>. >> first of all, joe, you got the corporate side, which is financed by the disallowance of interest deduction, getting rid of all the exemptions and deductions in credit, and a toll charge on existing capital that's held overseas and has want been taxed before that's moving forward. you can craft a state and local tax deduction like they have and maybe get rid of all of it we don't know what they're talking about. you can target who loses benefits to just the upper income people. 70% of people do not itemize
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today. if you double the standard deduction, 80% of people will not itemize. you are only talking about it affecting 20% of people and 90% of people who get the state and local tax deduction are more than $100,000 a year you can try and find ways to relieve any burden on those who are less than that or even around that number if you want to help them >> not saying this is a slam dunk at all, but it's imperative i really believe that the business community needs this. they've talked about it. they want it i think you can't provide middle income tax relief. they could craft something then it's going to be tough to
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get together and get your republicans in line and get the votes. hopefully attract some democrats. >> we appreciate your time this morning, and it is tough trying to carry on anyway, thank you. let's get back to the breaking news this morning. the mass shooting in las vegas join us now clint van zandt. he is a former fbi profiler and nbc analyst. former fbi chief hostage negotiator this really seemed different than other ones. automatic weapon fire is just frightening. the vantage point looking down on a crowded venue like that, and really he was able to walk
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in to the hotel, check in probably and there was -- i mean, it was planned, but it seems almost too easy to have had all these people gathered together >> there are 90 mass shootings it's happened 90 times in this country or more in the last 30 years, but the average mass shooter is about 35 years old.
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it's taking the high ground and shooting down and just mowing down anybody therefore, everybody there is a lot of differences in this that laufrmt has to fiend out. what's the motive. we can all say that many people killed and injured that's an act of terrorism the question is what was his motivation that we still have to find out who else was involved in the planning where did he get his weapons how much ammunition?
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realize every second, every minute it took to find him, he is putting a new magazine in that weapon unloading 20 or 30 rounds and then putting another magazine in. this was slaughter this was a killing field, and this individual planned to do it, and, unfortunately, he is now set the new high bar for mass murder in a single incident >> are you on board with taking something called a bump. i have never heard i'm just seeing it on-line of converting an assault rifle into an automatic weapon is that legal to do, clint >>. >> they are legal in this country. legal to the extreme that if you pay a $200 tax stamp to the
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federal deposit and you go through a background check, you can possess an automatic rifle there are individuals gun smiths, others, who can change parts there are manuals that show how to do something like that, as well as you can buy these darn things on the black market there's a number of things that the fbi, af, the sheriff's office has to satisfy themselves, but, again, it's been reported, pete williams from nbc, was suggesting he has heard this individual had a cache. in it essence, multiple weapons
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that he took up to that room a bag full of guns they want to make sure there's nobody else involved there's no other incident that's planned. >> we're it's going to take time to sort things out and care for the wounded and deal with the dead >> thanks for, you know, a lot about. we appreciate it learned a lot there about this horrific incident. thank you, clint van zandt >> yeah. when we come back, we have continuing coverage of what is now the deadliest shooting in american history we will have a live report from las vegas xtne hi.
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welcome back here's what we know about the deadly shooting in vegas at this point. at least 50 people are dead. more than 200 people are injured in the shooting that was taking place on the las vegas strip
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last night the shootering targeted people attending an outdoor concert, featuring jason aldine he shot from the window of the room on the 32nd floor of the mandalay bay resort. that suspect has been identified as local resident stephen paddock. he was shot dead by police when they came and broke into that room on the 32nd floor what you have seen with and what you are hearing, it -- is this a new type of, i don't know, m. o. that was not in your thinking, or do police even prepare for something like this?
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>> mass gatherings active shooter has been a subject that we've talked about and responded to for years the u.s. has 5% of the world's population it's got 31% of all public mass shootings. there's 438 million guns i still don't know i'm interested to know what the intent of this suspect was and doing it
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definitely targeting innocent people >> with what could be a machine gun or semiautomatic that became an automatic, it's also -- have we seen a mass shooting that involved the automatic weapon that you can recall, mike? >> i'm not aware of a fully automatic weapon you know -- one individual, one gun.
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>> it zents sound like it was difficult to get -- >> if we say impossible, then we're going to keep pushing on this issue, keep log looking for those trip wires, get more and more people involved in the suspicious activity. look for behavior that's an anomaly that's off the base line i think you need more people to be involved in this process. not paranoid or over anxious, but to realize that, you know, hey, we have terrorism threats. >> active shooter threats. the government is very good. they do -- they work very hard at this, but they can't do it alone. they need the partnership and the cooperation of people, of communities, of society. >> okay. thank you, chief downing we appreciate your time this
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morning. thanks >> hey, you're welcome thank you. bye-bye. >> let's get another update from the scene in las vegas nbc's jay gray is there on site, and he has another update for us right now. jay. >> hey, here's what i can tell you right now. the strip is still locked down at this point. we're seeing a little bit of reshifting of the police presence, the investigation here let's go with the numbers because they're so shocking, and i think bear repeating more than 50 dead at this point. more than 200 injured. the suspect in this case alone gunman, 64-year-old stephen paddock, who has been killed by police we are told by las vegas police that they have identified the companion that they were looking for, a person of interest, and are talking with her two vehicles that they're searching as well as the suspect's home in mesquite obviously, the hotel room here again, we're now more than six hours after the attack
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people from this concert, people who were in this the crowd, wandering around in this area two blocks away from the strip can't get back to some of their hol hotels because they're locked down others reuniting with family members. i talked to a young man earlier who had no shirt on and said that he had used that shirt to try and help one of the people that had been shot another couple with blood on their clothes who had been trying to help those who were wounded. this is something that is continuing to unfold right now we continue to see officers moving toward the scene. it's still while not an active situation, one that police are now really ramping up the investigation. >> jay, we had heard from the clark county sheriff earlier today saying that they would be bringing updates about every two hours or so. any word on when that next update is expected >> no, but you're right. they saidthey're going to try to do this of couple of hours, so we expect one to be coming here in the next hour or so.
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if they maintain that schedule obviously, things are very fluid here right now, and there's a lot going on we do expect to hear from them at some point. >> some are saying that attack happened eight to ten minutes. is that what you have heard there as well? >> yeah. yeah whether you talk to people or hear people talking about their experiences there, they say that the shots were ringing out or what you hear is between five and ten minutes from a lot of people obviously, when you are in that situation, time changes a bit, but it seems to be something
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that most people are pretty solid on they talk about a pause during what was this rapid gunfire. hundreds of rounds fired there were three distinct pauses that we've heard from witnesses about, which would seem to indicate that the shooter was reloading or switching weapons we understand that there was a cache of weapons inside this hotel room once tactical officers made their way inside >> jay, thank you very much. again, nbc's jay gray who has been on the scene, been giving us updates throughout the morning, and we will check in with him again a little later today. thank you, jay a message from jason aldine. anyway, "squawk box" will be right -- it's been horrific, and he is heartbroken. supposed to be a fun night, but he and his crew are fine we will be back with much more on the deadly shooting in las vegas in just a couple of minutes.
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>> we return to bring you more on the horrific shooting in las vegas on the strip at least 50 people are dead. more than 200 wounded overnight. it's the deadliest mass shooting in u.s. history. up next, we'll talk to the orlando police chief remember his city had suffered its own mass shooting at a
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welcome back to "squawk box. we are live from the nasdaq market site in times zwar. let's get you caught up-to-date
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about what we know in the mass shooting on the las vegas strip. this took place last night it is now the deadliest in american history at least 50 people are dead, and we're now hearing that more than 400 people have been transferred to hospitals >> they say he had no connection to any militant groups that they've been able to find at this point polk county sheriff joseph lombardo told reporters that they located numerous firearms in paddock's apartment joining us on the squawk newsline as we follow this developing story in las vegas is jon meena. the orlando chief of police chief, thank you for being with us today we now know that this is the deadliest attack, gun attack, in mesh's history, and this must bring you back to what happened
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in orlando back in june of last year the victim's families and -- they lost at least one member of their own -- in orlando last year from those that don't remember, don't recall, this was a situation where 49 people were shot and killed inside the nightclub in orlando what have you learned since that time what lessons can we take, and potentially applied towards this developing situation in las vegas? >>. >> he obviously -- any time you have that kind of weaponry, a lot of people are going to get killed within the first several
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minutes as with our case there are a lot of people that gather, like, you know, ours was a nightclub and, obviously, it was a concert going out there. there were some differences as well you know, this person is an elevated position. there was a larger crowd, and, obviously, this was a hostage type situation we have to continue to train together as law enforcement. our citizens have to remain super vigilant in these days, and to call any time that anything that is out of place or suspicious >> chief, what teep of situation where you hear this happen when you say we need to be constantly training for these things, how do you train how do you prepare >> many departments around the
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country continue every day for these types of incidents, and they -- you need to train within your own agency, and also with the surrounding agencies because any time there's an incident like this, there's going to be a joint response just to have that mindset, you know that these type of incidents, people are looking to kill and endanger as many people as possible. we need to respond quickly, and respond with force >> there's a groundswell response around these types of tragedies when they occur. as to whether or not it's time to get rid of ak-47s and m-16s in civilian hands. over it is last year have you felt that -- have you seen -- have you been frustrated that nothing has really happened. >> you know, that is a very
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complex issue. these type of weapons in the hands of ordinary citizens obviously someone who is deranged looking to kill as many people as possible and it's going to assist them to do that. obviously with a smaller type firearm, they're going to be able to kill people, but not with the numbers that these type of weapons can do. >> that is very, very concerning it's something that we do look at all the time. it's a dangerous situation for
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law enforcement to respond to. someone from an elevated position, and you are not sure exactly, you know, how high up they are or where they are obviously, they're in the position of advantage, and so you are able to locate, isolate, contain that individual. i'm sure that that's what they are dealing with, it sounds like, under the circumstances. they did an amazing job. >> chief, i want to thank you for your time today. we appreciate it >> thank you good to be with you. right now we're going to take a break when we come back, we will have continuing coverage of the deadly mass shooting in las vegas. again, more than 400 people have been transported to hospitals. that is the escalating nbeofumr individuals at this point. more details when "squawk box" comes right back riiight. and that means...? i'm the money you save for retirement. i help you get organized so your money could multiply. see? got it. who's he? he's green money for spending today.
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sfa we are continue to follow the deadly mass shooting in las vegas. we are now hearing that more than 400 people have been transferred to hospitals and 50 people are dead. joining us right now on the squawk newsline is jack thomas demarcho he is the former deputy director of homeland security thanks for being with us today >> hello >> hi. jack, wondering if you can tell us a little bit about this we know as civilians this comes as a bit of a shock to hear that a shooter was in a high vantage point, was shooting down on an open air stadium, arena. it's something a lot of us had
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not considered i assume it is something that those in homeland security had thought about. >> sure. the interesting thing to me -- well, this is obviously just a terrible tragedy, and looking at the shooter conducted, the interesting thing to me is that he did take a vanitiable point on the 32nd floor of the mandalay bay hotel looking down upon a huge crowd of, i believe, over 40,000 people in for a country music skon certificate
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all these things to me were fairly well planned exercises and an operation by the shooter. >> again, a situation like this, we know that law enforcement can't be everywhere at all times. we also know that some of these potential situations have been diffused when people say something, when they see something. if this was truly a lone wolf -- bringing up the woman who police have notice detained who was his roommate not sure if she was actually at that hotel or not. if this was a situation where he truly was a lone wolf, how much more difficult does it make it to identify and stop a situation like this before it happens? >> again, one of the hardest and biggest challenges that we face when i was in office at the department of homeland security, and one of the biggest challenges that law enforcement and the federal government faces is trying to deal with these lone wolves. an individual like this can sneak in unnoticed he can have his luggage.
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it may have automatic weapons in them they may have been broken down so they're not that apparent as being brought into a hotel room. very, very difficult to anticipate this kind of an action especially from an individual that does not seem to have any terrorism. i think he does have a criminal history. 64-year-old individual living in a retirement community in mesquite, nevada you think a person like that is probably not high on your list of an active shooter again, very difficult for us to anticipate this. >> there have been some people who have pointed out this morning that american hotels don't have any of the security precautions that some overseas hotels have, including checking luggage as it's brought in the door making people go through metal detectors. do you think a situation like this changes that, it or is that something that's very difficult to do in the society we live in? >> well, it's a choice that, you
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know, certainly will be under discussion right now i'm sure that hotels are going to look at this from a liability standpoint again, you know, if we live in a free society and where do you draw the line? do you have metal detectors whe to school, when you go into a hospital every place we go where there are people in the public, do you have metal detectors, do you have guards, frisking, x-ray machines i'm not sure where you draw the line here. certainly, it's a debate our society will have to have. we are an open society we pride ourselves for being an open society >> we appreciate your time this morning. >> thank you very much >> for more, let's get over to amen did you some work -- >> i talked to homeland security experts about these situations
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the harsh reality is that for law enforce money and security as your last guest was pointing out, it's difficult to defend everything at all times in this entire country this is a very big country we have a lot of venues, we have a lot of gathering places. law enforcement will tell you soft targets are the ones that they -- have nightmares about. it's nearly impossible to secure them you can set up security perimeters screen people going into the venues take all of those prudent and responsible steps. in a situation like this, the assailant was not in the venue he was in a building across the way from the venue at a fair distance how do you secure against all of that law enforcement will tell you it's a very, very difficult situation. there you see the graphic. if you are not going to ban outdoor gatherings in the united states, how do you protect people at a gathering like this? what they will tell you is the way do it is by gathering
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intelligence up front on the people who might be suspected of doing this as your last guest pointed out, this individual does not seem like he would have been the type of person who have been high on a watch list there are reports he was known to local law enforcement, which may have given them some indication of his state of mind, what he was thinking, how dangerous he might have been but even that is difficult politically and legally. people have rights in this country. if they have not commit ated a crime yesterday, it's difficult to sort out who is the type of person who might explode in a fit of rage and who is a person stewing and won't take any violent. that is the tremendous challenge for law enforcement in this country. it's a very, very difficult situation. it's compounded by the fact that our gun laws are very lenient, particularly in nevada where it is legal to purchase weapons without a permit it's legal to have open carry in public places. i can tell you that last summer when we were at some of the
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political conventions -- there was real political unrest and antagonism in the streets, very tense moments in the streets -- there were people in cleveland who showed up with long guns over their shoulders why are you here in this crowd with a rifle what is the point of that? and they said, i'm here because i can. demonstrating my rights to carry this weapon here in public there are people who will defend those rights to carry weapons even in politically tense crowds in this country intently so that's another obstacle for law enforcement. if they can't shut down that venue, then it's very difficult for them to stop anybody who is carrying a weapon in public because they have the right do it this is just the absolute worst case scenario. totally, completely difficult challenge for law enforcement. there's not much you can do to secure everything at all times in this country. >> wonder how many places now
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where this -- this local official they know there's going to be a large gathering, you going to -- just look around for vantage points looking down on it, too. this is a hotel where anyone can go in and get a room the vantage point was so optimal for doing the most damage. not all concert venues have that -- in orlando, obviously, they got in. we gotta run the clark county sheriff is giving an update thanks let's listen in. >> the deaths associated with this event to be over 50 i can't give you an exact number yet because we're still investigating some of the areas involved in the event where the concert was taking place we're still exiting individuals hidden it's just a matter a process it's going to take quite a while for us to completely get through the evacuation phase and then
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eventually we will have an assessment on the injuries associated with that now our suspect was identified as stephen craig paddock, 64 years old, a white male from mesquite, nevada we have no background associated with this individual that derogatory the only thing we can tell is he received a citation several years ago. that citation was handled as a matter of normal practice in the court system some important things that i need to get out. the family reunification still is taking place here at the las vegas metropolitan police department headquarters. any individuals that are looking for answers for their family members or friends are welcome to come here we will provide that information as we get it the fbi is vital in the assistance of this investigation. as a matter of help, they are providing a 1-800 number which
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is 1-800-call-fbi. the matter is 1-800-225-5324 that's to be utilized for any and all information, especially video information or evidence that we can provide the fbi. they will be the housing of all that critical information. if you have anybody that has knowledge through your media sources and they want to provide that information, that's the avenue to go once they receive an individual on the other side of the line, they will walk them through the process and they will get them to the online version so they can download that information. additionally, the coroner's office, as i repeated before, has set up a number for individuals to call. that number is 1-866-535-5654.
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that's for individuals that do not have the ability to come down to the headquarters to discuss their family and friends in person. the other critical piece associated with this and any mass casualty event is the need for blood. united blood services have their services set up currently. they are receiving patients or donors at 6930 west charleston and 601 whitney ranch in henderson. if you have the ability to donate blood to help the cause, please do so additionally, the laborer's union is offering their medical facility at 7135 west sahara to individuals that want to donate blood. as always, umc has a pod set up for individuals to go to umc to donate blood that will be the gist of the
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updates at this time i'm happy to answer any questions. we believe the individual killed himself prior to our entry we are still going through the search warrant actively at this time it's in excess of ten rifles i'm sorry? we have located her out of the country. she was not with him when he checked in we have discovered he was utilizing some of her identification we have had conversation with her. we believe her at this time not to be involved obviously, that investigation will continue. as far as his residence in mesquite, we have officers there serving a search warrant we just made entry just a matter of minutes ago that's going to be quite some
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time we're going to clear the residence first for any possible explosives that will be slow and methodical and take us quite some time before we conduct the search phase. no, ma'am. i don't know what has taken place as far as the interview with her okay i think it's important for you to notice who is standing behind me we have chief greg castle. i get caught up with your family greg castle has been integral in the saving of lives. they paired up with our officers at the scene i think their actions and heroic acts were instrumental in saving several hundred lives associated with this event. then you have our attorney general adam lacksalt. he brought forth his office to help us in any future prosecution associated with the case and you have the special agent in charge aaron roush of the
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fbi. as i mentioned, the fbi has been standing next to us from the very first minute. they are providing all the resources available of the federal government to help us in this endeavor. then you have clark county commission chairman steve si sisilak. he has been instrumental in getting resources to the first responders as far as refreshment and food and support of the entire county commission i have been on the phone the entire night with the mayor. she responded to umc to check on the patients she is in the process of visiting the other hospitals and showing support of the city. then obviously, we have our congressman. he is in town to also show us support. any other questions of the members standing before you?


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