Hearing from you, loyal viewer and the latest poll on twitter. We are going to hear from you on this wednesday, september 23 this is Worldwide Exchange here on cnbc got a little music to get you going. Good morning welcome to wherever you may be watching here is how your money are setting up their day nicely in the green. At least for the dow futures futures up 186 up a little less all of this coming off the dow snapping a threeday losing streak the dow and s p snapping fourday losing streaks. The big cap names you know amazon close up nearly 6 . Our Parent Company comcast, 3 , facebook 3 . Nasdaq 100 up 5 from the mondays low to yesterdays close. So traders making a little money. A day or a swing trader is a 5 move in trading sessions outside of tech, the sector star, Consumer Discretionary up 2. 7 . The only real decliner of note was tesla. Also down 4 after falling 5 from a battery day bust failing to invest on lower expectations despite radicily better batteries after an extended holiday weekend, japan down, rest of the markets higher, in europe, Green Trading across the board germany, france all up or just about 2 back home, a busy night as Congress Moves one step closer to funding the government for 8 to 10 weeks. Seema with us now as the sun is yet to rise over the nations capitol. The house passing a bill last night that would fund the government through december and avoid a shutdown now expected to head to senate where it expects to pass with a billion for nutrition assistance for children and families and for farm aid money to prevent it from going to large oil companies. Through december 11 avoiding a preelection shutdown the fda plans to implement stricter guidelines to any new vaccine. Guidelines will make it exceedingly difficult for any vaccine to be cleared before election day as new data suggests fewer and fewer americans would get the vaccine if it were available today compared to three months ago check out the shares of shopify after they said two employees stole data from hundreds potentially affecting hundreds according to a blog, roeg members were involved in a scheme to obtain transactional recorders noting that fewer than 200 sellers were affected. Back to the markets. Maybe an under the radar threat possibly looming could a contested election not be the story line getting as much attention Morgan Stanley may think so. In a note to clients, he says, quote, with less than two months to november third, we urge investors to wait for a reliable result we go on and expect a material increase in vote by mail to delay counting by weeks or even a month. Markets could try to price in alternative outcomes Morgan Stanleys out look shrinks from earlier this month. Im frankly really worried about a contested u. S. Election. This is like 2000 where we are not going to know the result the first week of november if nobody concedes, we may end up with the first nonpeaceful transition of power. That is not a good picture voting has begun already in seven states already under way. Morgan stanley warning we may not know the results well past november 3 something for markets perspective to Pay Attention to. She believes some better opportunities to make money may be found with our friends from up north she joins us now from the news line lets talk about your contested election it is going to be so close do you view this as a great market risk . I think between now and the election, well see more volatility something we havent seen for months after the strong gains weve seen through the summer. For now between now and november, expect more of what weve seen hear the past few weeks. The markets have been whip sawed on numbers coming in, whether covid, fiscal support. Theyll play into the higher period of volatility in the market that is the risk. All Morgan Stanley and others have warned about. We are not saying markets will collapse or soar youve got to watch out. If you think things are more volatile now, if you believes that the case, what do you do to protect yourself are you buying options or bonds, putting more money in cash what is the playbook for this . In the short term, youll be right. It is an uneven bumpy market something we havent seen for quite some is time since back in 2020 the good news is that the down side should prove very limited this should help to place a floor under the market for the longer term, we are in a bit of a Holding Pattern we are in a more volatility than we are used to there are some opportunities being created. We are optimistic for the global economy. When we can freely move around again and get on a plane and head to the yyc and pretty good airport why do you believe better money making opportunities are to be found in the Canadian Market and how might our american markets take advantage of that the outperformance weve seen in stocks has largely been driven by Growth Technology shares investors have been flocking to these and what has been an uncertain macro environment. Going forward, we expect the back drop to improve given that the likelihood would be available for a stronger Global Growth recovery. This should bode well for the value oriented sectors that are levered and linked to the fortunes those have lagged. This is where we see those opportunities going forward. The catalyst weve talked about with the vaccine should help to facilitate that rotation from growth, which we believe has been overbought and extended in the sector of the Market Canada as always, always appreciate your views. Thank you very much. We have so much more to do this wednesday when we come back, why shares of stitch fix need some fixing. A blowout quarter for nike and why the street got it so wrong battery bust maybe. Musk and interest after the companys first ever battery day. Talking about what to expect going forward. A very busy hour still ahead dow futures up 190 we are back right after this we are hoping things will pick up by q3. Yeah. Uh. Doug . [ding] never settle with power e trade. It has easytouse tools and some of the lowest prices. Dont get mad. Get e trade and start trading today. Dont get mad. Another day, another chance tlets do this. Rd. By making internet speeds fast and reliable. So you can keep up with your customers. By ensuring those speeds have wireless internet backup. So if the power goes down, your connection doesnt. And by covering all your connected devices with serious security. So we can handle this. And this. While you get on with this. And this. Be fast, be secure. Bounce forward. With comcast business. Get started with a powerful internet and voice solution for just 64. 90 a month. Call or go online today. Welcome back to Worldwide Exchange. Hope you have a good start to this wednesday this mornings top stocks to watch. A couple big movers is shares of stitch fix down sharply posting a larger than expected loss despite a better than forecasted revenue down 15 take a look at kb home beating the street as demand for homes remain strong. The company ceo look at higher pricing as Home Builders continue to ride the strong wave down in premarket taking on shares of lululemon getting a pop. Restarting a Stock Buy Back Program after halting it due to the pandemic lulu has been one of the outperformers of Retail Stocks up about 85 during the past six months brian, im tempted to ask you to stand up and see if you are wearing the yoga pants or office pants. I got nothing to be ashamed of ill stand up. Im wearing some very fancy tan jeans. Very vehicle unlike many of my counterparts, i do get dressed the lululemon pants they add a Little Something to me well see you in a few minutes, seema speaking offa athleisure. Nike just did it posting a 86 jump nearly doubled the forecast and sales came in 1. 5 billion more than wall street expected. Nike, the latest Consumer Company to shock wall street joining us now, former president and ceo of American Apparel and foot wear association. Maybe he is not shocked. What do you make of these numbers not just beating earnings but absolutely blugonning them. Hats off to nike. They literally ran away with it. The quarter was so great the First Quarter just shattered in and everything we could possibly imagine it bodes well for retail weve been struggling. To hear the good news from nike, particularly the 82 digital growth now onethird of sales which puts them ahead of plan. That was great chinas 6 is huge the u. S. Market was down but thats not so bad given how everything is going. Any time a company can post record revenue and have earnings like this, it is just stunning absolutely stunning. Give them a lot of credit. Congratulations to the people at nike stitch fiction the other hand jumping in here Deutsche Bank raising the price target to 151, which is about 15 more than the current price target even with the after hours move so about 132 in the premarket so bullish there on nike here is a hard story to tell, i guess. There are millions of families suffering greatly. We know the unemployment rate. Nobody is making light of anybodys situation. Trust me however, any of us blessed and lucky enough to have consistent employment here is the reality, we are saving so much Discretionary Income by not traveling, not going out to eat i think Consumer Spending is one of the small joys we can have. Is that kind of how you read it . Traditionally, brian, history will tell you that the Retail Sector is the first one to dive into recession we are also the first one to pop out of one what you are seeing is the beginning of a pop people have been able to figure it out companies have been able to do it like nike, theyll do it very well people would like to spend with err stuck at home buying on line that will change people will go back to the stores eventually. I would look at this as a very positive sign. Will it turn . Weve been in a sixmonth snowstorm stuck inside well be out at some point will it turn everybody is talking about what shape will recovery be . Recovery is recovery we still have 6 a 5,000 people in retail that are out of work hopefully that will change, people will get back to work and people will shop well lead the parade. Thats what we want to do. We want everyone out there shopping people are talking about the Holiday Season already doe loit said maybe up 1 to 1. 5 . Th a trillion in spending that will do it. That willhelp. We are all stuck at home. One of the small joys we have. For thoefz us lucky enough to have consistent income are saving money i booked an International Flight for our family next summer we are going i wonder if the shifting is going to span. Im not going to apologize for that thank you, brian. Nike shares soaring thank you. Still on deck, you probably heard of preripped jeans. What about prestained jeans for more than 1,000 the latest fashion trend from gucci. And a price tag you are not going to believe we are back after this announcer todays big number, 300 billion thats how much citi estimates the global contactless economy will reach by 2024 double its current Level Companies with exposure to ai, ns technologies and semiconductors will benefit most, according to citi. Welcome back lets get a check on this mornings other top headlines including some changes in College Football francis is with us with more good morning. The stage is set for a Supreme Court show down. Senate republicans appear to have secured the votes to repla replace Ruth Bader Ginsburg on the court. Coronavirus is wreaking havoc on some College Footballs prominent schools. Notre dame was forced to postpone the game against wake forest after seven players tested positive. Uncle bens rice is getting a new name it will be called bens original after the product came under fire as a racial stereo type back to you. Still ahead, we dont just talk to you. We want to hear from you, the viewer, on your outlook on u. S. Stocks we mosted a twitter poll will your stocks end the year higher, lower or about the same. And coming up, not one to stay silent ouat jamie dimon has to say abt a wealth tax abt a wealth tax we are back right after this a fleet of elect. Were striving to deliver a package with zero emissions into the air. I feel really proud of the impact that has on the environment. We have two daughters and i want to do everything i can to protect the environment so hopefully they can have a great future. I feel like wereect forglet me check. Ing. Xfinity home gives you peace of mind from anywhere with professionally monitored Home Security built around you. No, i think were good. Good. So when youre away, you dont have to worry. The tent. We forgot. The tent. Except about that. Xfinity home. Simple. Easy. Awesome. Hey look, i found the tent get xfinity home with no Term Contract required. Click or call today. We are going green futures go higher. Where do we go from here results asking you, the viewer about the markets direction, next no shut down here either the house passing a spending bill that now goes to the senate thats coming up investors tapping the brakes on tesla as the battery day stalls out this is Worldwide Exchange here on cnbc lets take a ride in an electric car good morning and welcome back we are about half way through the 5 00 a. M. Hour here is how your money and the markets are setting up markets are in the green dow is up about 172. The nasdaq and the s p doing a little more work snapping fourday losing streaks with the big rebound big cap names you know did you know amazon rose nearly 6 our Parent Company comcast up more than 3 . Facebook just under 3 the nasdaq 100 up nearly 5 from its monday low the 5 minirally in less than 48 hours. This star, Consumer Discretionary. Up nearl3 one big stock to watch in that group is nike. Shares up 13 in the premarket. They posted an 82 online sales jump they jump in china get this, earnings nearly double the forecast to analysts who blue it, by the way. They came in 1. 5 million more than expected. It could be a big part of any market game. Nike could add more than 100 points to the dow when they begin trading. They just did it i asked on twitter, by the end of the year, the s p will be higher, lower or about the same. Your answer, 53 of you smart folks said the s p 500 will be higher than it is right now on december 31. 31 said lower, 16 said about the same as now. Conviction on markets going up continues to stay up well see if most of you, a slight majority are right. Thanks for playing and thanks for voting as well to other top headlines, seema with more. Do you dare opine on how you would have voted on said poll . No. Im not out there. Ill leave the experts some what related, you could say. We have jp Morgan Jamie Dimon saying hes okay with higher tax on the rich but cautions that wealth tax is likely impossible because calculating wealth is impossible he spoke to us at the jp morgan india summit i think governments should spend more time saying how are we going to have a healthy and growing economy and not confuse that with politics taxes that will slow down growth like capital formation, labor, which will not affect growth, taxes on well to do people like me that should be thought about more than just taxation. Chinas ant group submitting documents and backed by alibaba and planned to list in shanghai and hong kong as soon as next month. Said to be the biggest ipo since saudi aramco last year walmart getting ready for the holidays looking to hire more than 20,000 Seasonal Workers and increasing inventory in categories Like Electronics and toys because it expects shoppers will start buying gifts earlier this year what did you get me is. I haguesses that how it work. I will get you a great present give me a little more time it isnt even november yet i messaged you. I want tater tots from the cnbc cafeteria. That, i can do for you. By the time i get them, theyll be all soggy another busy day in washington fed chairman will return to capitol hill to test on the Coronavirus Response joining us now with a preview. Honing in on the emergency Spending Program forced to explain the interest to help set up small and medium businesses he acknowledged that part of the problem was the terms of the deal many borrowers will benefit for others, a loan that could be difficult to pay might not be the answers. In this case, direct fiscal support may be needed. You hear it there, the need for more action was another major theme, you can bet youll hear more calls from powell and both sides of the aisle. Brian, i am not holding my breath if that doesnt happen, what can we expect . You can expect more talk as you heard seema mention earlier g down the government tten to a based on the deal nancy pelosi was able to reach. Certainly, the prospect of a big relief package before the election is looking pretty dim well pivot here. The Justice Department is speaking about the investigation into google. Said to be focusing on the search dominance and President Trump will meet with the state attorney general to talk about the liability shield protecting Many Companies that law has been outdated eight Republican Ags will head to the white house to talk about ways to mi they include louisianas ag jeff landry who heads the Republican Ags along with texas ag ken paxton who is leading the states antitrust investigation into google. This all plays into executive trumps executive order on ways to chip away he needs the states and the help from the fcc to rewrite the rules. Hes asked republican senators to find ways to introduce the bill that would change the standard for section 230 and find areas of protective content. All the ways President Trump uses his bully pull pit to ensure these dont get lost before the election. Thank you, elon tesla unveiling new innovations and increased ee fish efficiencies at the anticipated battery days switching to lithium which would result in better range and prices announcing a 25,000 fully selfdriving vehicle in three years. Stock turning south off about 5 right now. Some of the innovations were working and others a few years away it will take us probably a year to 18 months to start realizing these advantages and probably to fully realize the advantage is about three years or thereabouts that event, as you can see, was held outdoors at teslas headquarters because of local restrictions on gathering. The few on sight sitting in their model 3s and would honk their horns in approval. Does tesla even have a horn . There we go. Honking for tosha. You know, it is funny. Im not one to buy into elon musks rev illry i thought the announcement was interesting. You might be stumped at the price. There tends to be a premium to going green. Bringing down the battery cost might be the number one thing to get people back in the market. I completely agree. What we heard last night is certainly being under estimated. You are right that battery cost declining is huge. We already know evs are cheaper. That Sticker Price change we think will cause an inflection in demand once they become cheaper than Battery Powered cars weve been saying for a long time that tesla is at least three to four years ahead on batteries. I think with the patents they are getting off this new battery chemistry and the process, that this might put them ahead for life if you are a traditional automaker, what you are feeling right now, it seems like it might be impossible for others to catch up. You are probably already worried about tesla seeing dominance in the battery range if you want to buy an electric car. First off, if you are rich, you dont care if you are a normal buyer, price matters a lot. Range matters a lot. You are not paying 70,000 for a car that can go 170 miles when it is cold out teslas battery dominance seems to be key for the company. Absolutely. This unlocks a 50 in range and in cost we are kill owe wat hour this unlocks another market segment. A lot of the estimates might have to be bumped up this puts them ahead of the competition. Weve been looking at the autonomous opportunity we heard the announcement last night that this new auto pilot update should roll in for the next month they are the only automaker updating data. We think those huge opportunities just seem impossible for a traditional automaker to keep up at this point. Cadillac has super cruise thats a different issue i have to break up our tesla lovefest all that we saed, whiid, while for the technology, does that justify the valuation. Separating the cool tech from the cars and many that just say, has this gotten way out of hand . If you adjust, this is 1,400 per share. We are longterm investors one of the reasons, maybe, is stock pulled back a little bit over the next few years. You really have to be a longterm investor after looking at Disruptive Innovation if you are looking at the short term, you are going to miss the Inflection Point and the growth youd expect from the company like this. We think the electric vehicle industry will be more consolidated the autonomous opportunity cant be overlooked. Musk even highlighted that when you think about valuing tesla, you should think about the autonomous opportunity per car. Thats what weve been looking at all along, really tesla is still our top position, we still have a very High Conviction in the stock. Tasha, bullish to the end we appreciate your views thank you. Coming up. Some of this mornings top trending stories including a pair of pricey gucci pants made perhaps with a farmer in mind. Here are your other top stories. Big advertisers striking a deal with facebook and twitter. Including common definitions of content and details on external audits United Mortgage is going public by way of a merger with spak tochlt be valued at 16 billion. And amazon to kick off this yearsri d o pmeayn october 13 stay tuned here on cnbc. I had saved up some money and then found the home of my dreams. But my home of my dreams needed some work sofi was the first lender that even offered a personal loan. I didnt even know that was an option. The personal loan let us renovate our Single Family house into a multiunit home. And i get to live in this Beautiful House with this beautiful kitchen and its all thanks to sofi. It is time to bring back trending stories the rbi is far superior. Seema is here with some of your toptrending stories im going to show off something in one of your stories looking forward to it apple is propelling one social media platforms. Pintrest reported more downloads following the release. Users flock to the app as they look to inprove. Sacks fifth avenue with an initiative to get more people to the polls. People will be able to vote, check status and register for mailin vote they also made election day a paid holiday and is coordinating schedules for workers as well. If you you are looking to dress like a farmer without doing any farm work, gucci has the thing for you. Appear to show grass stained to have a vintage affect. Retail price, 1,400. Brian. I mean there is a beverly hill billys joke in there. Look at my home screen i have tweaked i have been that guy with the new ios where you can mess with the home screens because of the pandemic and what else are we going to do . Customizing the back drop and adding new apps and whatnot, why not . Why not and we did still waiting on my tater tots they are coming no they are not as we head to break. The ipo rush rolls on. The online Prescription Drug platform stocks said to begin trading today. Palantir technology expect sales to top 1 billion this year. Unveiling its output ahead of the stock listing. That is more than 41 jump shares to start trading on the New York Stock Exchange on september 30 there you go i keep working my way back to you, babe with a burning love inside yeah im working my way back to you, babe and the happiness that died i let it get away servicenow. The smarter way to workflow. At Morgan Stanley, a global collective of thought leaders offers investors a broader view. We see companies protecting the bottom line by putting people first. We see a bright future, still hungry for the ingenuity of those ready for the next challenge. Today, we are translating decades of experience into strategies for the road ahead. We are Morgan Stanley. It is time now for the rbi we continue to stay focused on the markets and your money history maybe can provide some reason to be optimistic. We know history shows the pandemic tend to last about a year we have about six months to go even without a vaccine what is random but interesting about the market is this noting that prior to this month, the s p 500 had jumped five straight months. He calculated the data going back to 1950, there have been only 27 other fivemonth win streaks in 70 years. Only 27. Not that many. In the 26 prior to this one, weve got history. On that history, the market shows that the market is higher 96 of the time a year after a fivemonth win streak. That does not mean history will repeat itself. What do they say in every ad past performance is not and indicator on the Performance History on his side there. Welcome to our guest cnbc contributor and on the twitter last night bemoaning this Early Morning hour. You look awake and ready to go what do you make of that history . That is pretty good data i look bright and shiny because of the red lipstick. Me too. I enjoyed our exchange on twitter. We always have these conversations about these really cool stats you bring up a good point, past performance does not even future results. Talking about covid. Weve been in a crazy time here. Coming out of it, i dont think well be back to where we were before thinking about this from a portfolio standpoint for the past 10 years, if they closed their eyes in portfolio funds, they probably did okay. Then february and march hit of 2020 and the entire world changed. Going forward, i think shaving off those projections and buying quality individual names it is really stock pickers priority now everybody thinking work from home is here for good. Thats not true but things have changed that have been good. Last year, i got lyme disease and had a horrible rash. I used an app to see a doctor. Teledock could be a winner Service Covid or not absolutely. What covid19 really did was clear the deck for companies that were innovative in january, 2020, you would probably go to the doctor if you had symptoms some people would opt for tele health now everyone has to do it. Well get back to a little bit of normal but it wont get to where it was before. I do love telehealth another is on track poured by ai up 225 year to date really Interesting Technology there. Talk to us by sleep. Purpl, that is soaring so i love purpl everyone was watching these stayathome stocks as was i i was surprised to learn of a Little Company called purpl was up everyone was staying at home, making their spaces more comfortable. Apparently that extended to mattresses, who knew their model is different than sleep number they sell online and make money with advertising theyve drawn a lot of attention. They are still up versus sleep number that relied on customers coming into the stores and laying on their beds a big jump from 300 up. Those type of things will come back. Ill tell you this, on this show, we love talking about sleep because we dont get enough of it new names there from tiffany. Thank you. That does it for us on Worldwide Exchange. Well see you tomorrow dow future is up 200 you are welcome joe kernen squawk box is next and ballots, are on their way. Every day, all across america, well keep delivering for you. Every day, all across america, so youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Good morning futures pointing to more gains about half of todays boost comes from nike. Retailer reported better than expected results with eyepopping numbers. Tesla shares are slumping after the big announcement on longterm innovations. We have a roundup of everything weve learned from an industry analyst. Squawk box begins right now. Good morning welcome to squawk box here on cnbc im becky quick with joe kernen and Andrew Ross Sorkin equity futures are higher this morning. The s p and nasdaq breakin
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