Now. Is the work from home trend here to stay or just a temporary blip its random but interesting. Well bring you the results coming up on this monday, september 28th, this is Worldwide Exchange right here on cnbc. Thank you for joining us on this monday. Lets get right now to your monday money and stock futures are higher dow futures up about 229 nasdaq futures on a percentage basis are up slightly more but do keep in mind we could see a lot of people not working today and volatility does tend to increase particularly in the morning. And the big loser lastweek was not stocks it was the medals. Gold and silver losing a lot on inflation concerns silver down a bunch last week as well not seeing a big move today maybe a slight move to higher in some of the medals gold down about. 7 of 1 now lets set you up for the week with what were going to call the wex watch list. Thats our internal name for Worldwide Exchange get it w. E. X. This is the most important thing for you this week. Now all week, its not one day, its the entire week, we get to watch if d. C. Can get a stimulus deal done. And the first president ial debate on tuesday night and the brexit negotiations begin. On friday you get the monthly jobless numbers. Now to this mornings top corporate story, the u. S. Judge blocking the trump administrations ban on new tiktok downloads from the u. S. App tore further restrictions set to come into effect on november 12th still time away but theyll be much more wide sweeping rendering the app unusual in the u. S. Now lawyers argued that any ban is punitive. They argued that it infringed their First Amendment rights lawyers arguing that tiktok is a National Security threat taking american user data and potentially sending that debate into the hands of the Chinese Government claims that tiktok has repeatedly denied. Now in a statement the Commerce Department did come out and say it would comply with the injunction by the court. That it would continue to defend its executive order consistent with the law perhaps hinting that it could potentially appeal this injunction thael take theyll take a 20 stake the Parent Company says theyre going to own 80 of this company but oracle saying theyll have no ownership details all over the place very scarce in terms of concrete on the paper details and on top of that, that final day will need to be confirmed not only by the u. S. Authorities but also by china as well and thats where this big question mark is because theres been a lot of negative reaction toward this in china over the past five days and state media called the deal unfair and dirty they likened it to robbery as well so thats not boding well for any green light from bejing. Back to you. Youre in china most u. S. Social media is banned there, correct . So china is upset about something that they themselves arent doing it will probably be gone in a few years, who knows a bigger story is this export ban put in by the United States on equipment for smic. Thats chinas biggest semiconductor manufacturer. This is a big economic story this is huge, brian this really hits at the heart of chinas broader technology development. Semiconductors are a critical component in so much of the technology now its already behind and the issue is the complexity with the semiconductor supply chain. Its very much dominated by american firms as well that will make it hard to catch up in manufacturing and its already perhaps around 3 years behind this could really push it further behind huawei here in china is facing and had been cutoff from its chip supplies. Now it has very few options given the sanctions against the company. For the broader technician that could really hurt. Yeah. Listen, tick to be gets the attention because its media by the way but economically its minuscule at best. Smic is a multibillion dollar story. Thank you very much. Appreciate that. Now to this mornings other top corporate headlines including plenty of deal news. What better person to have on this monday than Contessa Brewer because one of the deals is in the space she covers and one is in the space that i cover. Its just perfect. Its synergy. Lets follow with the sector you follow closely devon energy and wpx are in talks to merge in an all stock deal both stocks have been hit hard as the industry deals with a slump in prices. The wall street journal says an agreement between the two could come as early as today and you could see there, look at wpx energy up 3 and then this deal that we have been talking about on friday, its in advanced talk with william hill on a 3. 7 billion takeover offer it would give them full control of their us. Sports betting and Online Gaming joint venture. It would also take on the u. K. Business shares soared friday but theyre down this morning by 12 . We know that they made an offer too brian and according to restrictions in place, if apollo were to buy william hill, caesars could cut their partnership with william hill. Theres a deal in place already to run all the sports books. So that would be null and void making the whole thing less attractive to apollo one would think. Two William Hills board says its inclined to recommend this to shareholders. So well see what happens today. Seize czars will im told going to come out with an Equity Offering at 6 00 a. M they say theyre not going to take on any debt thats what my sources close to this deal say. They dont intend to take on any debt for this deal. Number one, the stock is up 23 . Were talking about two companies that had their troubles and they may be looking to cut their cost. How big is sports gambling we have seen all of these deals. It is legal in new jersey. Theres nothing wrong with me doing that and everything i talked to is doing it. How big is it when you have states like michigan firing it up there. Its big and its growing especially when states look to find new revenue streams, theyre particularly more inclined to consider legalizing gambling but Online Gaming dont forget, Online Gaming is a big part of this and right now only about six states have legalized that this is part of what caesars wants. They want to put into one wallet, sports gambling, Online Sports gambling, online poker and Online Casino games. They think thats where the synergy comes. This could be a total Addressable Market for Sports Betting of 30 to 35 billion so were still at the stage in this country of Sports Betting where in the u. S. Its more mature and there is, again, sources close to this deal seem to indicate that if caesars is successful in this bid they might want to shed the u. K. Business and focus on the u. S. Business. Its a domestic company. The ceo intends to focus on the domestic success of this business its incredible you can bet on 50 to 100 things per game as the game is going on. Thats engagement. I took the over on 2. 5 references of the word synergy i think were at 2 i lost that bet this morning. Now the show down over the next Supreme Court justice which has begun. Scheduled confirmation hearings beginning october 12th tracy is joining us now with the latest on this, tracy, i have to imagine this has been a weekend that you probably worked the entire one. A New York Times examination of more than 2 decades of President Trumps personal and business tax returns reveals he paid no federal income tax for ten out of 15 years and just 750 the year he won the election and the year after. Its totally fake news. Made up. Fake. The times report found the president reported losing millions more than he earned with 300 million in loans due soon joe bidens campaign is already out with this web ad in a statement, nancy pelosi accuses the president of abusing the tax code the tax revelation comes as his Supreme Court nominee Amy Coney Barrett prepares to meet law makers on capitol hill tomorrow. One of the reasons he is putting Coney Barrett on the court is to get rid of Americas Health care. To get rid of the aca. That should not stand. Theres a lot of reasons for her to go on the court im eager to vote for her. The Supreme Court one of the topics in tomorrow nights president ial debate. Joe biden has a chance to lay his truth, his spirit, his character in front of the american people. President trump told reporters hes not doing a lot of debate prep because hes too busy running the country all right tracie potts there talking about the blockbuster story if you will for the New York Times on President Trumps taxes as well. All right. So thats tracie potts when we come back here on Worldwide Exchange, a new week and new hopes and concerns about stocks were down four weeks in a rowand victoria fernandez is here now with her key themes going forward. But first as we head to break, lets get a check on some of this mornings biggest premarket movers d dow futures up 225 were back after this. Has anything changed that makes them less attractive always a pleasure to see you as well nice and early coming to us from houston but it is much appreciated. You have individual names for us as you always do but on a macro level, are you concerned that something has changed in the attractiveness story for the equity market . We still like the equity market and we think theres room to run theres going to be volatility going on for a lot of the reasons that you mentioned with the last segment of the show but when we look at fundamentals and consumption and consumer sentiment, its solid. Regional manufacturing pmis that tends to do well the trend is still higher. Especially looking at inventory sales ratios, thats at some of the lowest levels we have seen in decades and we have a Holiday Season coming up and we think manufacturing is going to continue to do well. Housing has done well. Look at durable goods last week. Even though the headline number was a little bit weak, when you look at the underlying number that relates to cappital expenditures that was strong the fundamentals are still there. Look at the s p component. The percentage thats trading above the 10 or 50 Day Moving Averages, the numbers have gotten really low. To us that says we might be in an oversold position so were not surprised that were seeing futures move higher today. We think that well start to see the trends shift this week hopefully we have positive weeks for the dow and the s p. Now, i want to get into individual ideas you balance that out with other names as well, what you call the barbell strategy why is a spice maker like mccormick a good value for you and your clients. It comes down to what youre saying you do have to have that approach in your portfolio not everything can rely on the high flying names in the market or what people are doing, so you see people going into airlines or cruise ships and things and thats giving you whiplash right now so we have been looking at trends that will continue past covid. When you look at mccormick more and more people are working at home. Restaurants continue to be shutdown or open up at small capacities so thats a longer term play for us in the portfolio and were looking at names like walmart and Charter Communications we have been adding those over the last month or so we actually took advantage at the end of the last week and we added that to our portfolio. That fits into the secular growth story a little bit and it all boils down to the fundamentals so theres names out there that you can dig into and have advantages this is another one as we talk about individual names you and i were on fast money we love that space and we continue to like t. They cant seem to get out of their own way and then you have stories about how the big banks allowed Money Laundering over their systems and jp morgan was named in the story as well at some point, do you hang on to the big banks like jpm or do you just have to let them go so, you know, jp morgan like you said is a name that we have added over the last month or so to the portfolio we were extremely underweight banks. We have seen the financials really take a hit but we needed to have some exposure to the area we didnt want to have no exposure so jp morgan for us is that bank that we think has the strongest balance sheet. We like the management team. So thats where we wanted to put some exposure but you can have exposure in other places in finance. Look we said visa a moment ago thats a way to play the financial space and s p global, thats a financial name but not necessarily a bank name. It has sticky business, good revenue, good margins so you can play a little bit in the bank side its still not our favorite part of the Financial Sector. Look for other areas within that Financial Sector like a s p global. Good stuff there. Still to come what side of the debate do you fall on people no not politics. The debate about work from home. Is it here to stay has covid really changed everything we posed the question to you coming up, its your morning rbi and its ahead dow futures up a little bit more than 200 and were back after this inc welcome back. Outside of the worlds money and business, phillip is in new york with those good morning. Good morning to you californias wine country is under evacuation right now those orders come as a brush fire dubbed the glass fire bushed at least 2,500 acres with no containment the Officials Say the fire is threatening 2,000 structures and forced a local hospital to evacuate patients. 5 engines and 2 dozen personnel have been sent in to help. Football history was made on sunday in the cleveland washington game. The browns chief of staff, she was on the field with water washingtons full year intern. Its the first time they had a female coach on their sidelines in a game officiated by a woman. Pretty cool. Finally police say a woman broke into the malibu home of joe montana and tried to kidnap his 9 month old grandchild they confronted the woman and pried the baby out of her arms she was later arrested scary situation there. Back to you. Absolutely terrifying situation there and House Speaker nancy pelosi says a coronavirus deal is still possible delivering alpha our big event of the year. Its virtual but still amazing great speakers all day long. Of course easier to get to because you can tune in from home were back after this. Hey, dad hey, son no dad, its a video call. You got to move the phone in front of you like. Like its a mirror, dad. You know . Alright, okay. Hows that . Is that how you hold a mirror . [ding] power e trade gives you an awardwinning mobile app with powerful, easytouse tools and interactive charts to give you an edge, 24 7 support when you need it the most plus 0 commissions for online u. S. Listed stocks. Dont get mad. Get e trade and start trading today. Theres a lot to talk about. Well head to d. C. A look at the stories that you can be watching this week. And the question that everybody is talking about around the dinner table, is the aufts goofe going the way of the dinosaur or is the work from home trend only temporary. We asked you, you have spoken. Well bring you thens. It is monday, september 28th, this is Worldwide Exchange right here on nbc. Thank you for joining us on a very busy news day we have breaking news running out of europe. Uber is weighing the legal fight to restore its london operating license. They pulled the license over safety concerns months ago but uber argued its dealt with the concerns and the judge did rule in its favor. So londoners, a lot of you are watching right now, uber is going to be coming back to you trying to keep up with all the headlines from d. C. Seems like an Impossible Task from the elections to the debate tomorrow night to the fight over a new Supreme Court justice to stimulus, its a heavy lifting load which is why were bringing in the heavy lifter this morning, focussing in on the biggest news over the weekend. Its dealers choice. Which are you going to kick off with. This bombshell report from the New York Times broke last night a half hour before the president took the stage reporting they have obtained hundreds of records of the president s personal and business tax returns going back about 15 years including some years when he was the president of the United States he paid no taxesand many reported huge financial losses they offset some of the profits from the businesses so essentially the president here is in a struggling and precarious financial position and 300 million in loans that the president personally guaranteed are coming due over the next four years. So while he is president in a second term if he wins one, the president will have a massive amount of debt hes going to have to rollover somehow and try to find new lenders out there in the world. And that raises conflict of interest questions. Theyre talking about a 2. 4 trillion stimulus bill they would like to move as soon as this week. Nancy pelosi was on cnn talking about her strategy and she said that bill was the democrats only bill and she would prefer to get a deal in terms of hashing all of this out in a deal that republicans can upport we have the debates as well tomorrow night three different debates. Thats going to be sort of i guess wednesday morning. That will at least sideline some of the other talks while everybody sort of tallies who they believe was the winner. Thats going to suck a lot of the oxygen out of the room we didnt mention the Supreme Court fight. It appears that President Trump and the republicans will have the votes to get amy comey barrett, the president s pick to be announced over the weekend on to the Supreme CourtLindsey Graham said over the weekend hes going to begin hearings on october 12thme so all of these are coming together at the same time. Huge emotion around all of that and well see where it all lands. Its an unbelievable stew of news going into the november election. It certainly is were glad that youre here to do the lifting for us. Good man thank you very much. Well see you in a bit. All right lets talk more about all of this and how the market may react to any uncertainty about the election as well hes a strategic adviser and he joins us now. Well put everything into a stew and then try to come out with actionable conclusion there. I read it and i talked to a couple of my friends who all read it as well. I mean this with all due respect. Theres a will the of journalism and hard work and fantastic reporting. Is it going to move the needle at all i dont think the story is going to do a ton in terms of making moves in the campaign the one thing that i would say though is that if i reach out from election day tomorrow, it doesnt leave a lot of time to move in any direction and if youre trailing and its fair to say right now that the polls favor the challenger, former Vice President joe biden you dont love to see any day wasteful on a story that doesnt benefit your candidate its really going to be one way or another about this. You only have 36 days until election day, thats not a great thing. Yeah. I just dont know if the news cycle as we used to reference it, trevor, matters right now. Because theres just such a theres such a large split there between the voters are they worth wild at all i think that theyre worth watching for a wall street audience its worth remembering that polling is really about modeling and we think a lot about going into polling in terms of the calls that get made and the surveys that get taken but really all of that data into a series of models proprietary and its really important to rely on people and you would never let your model stay stale and inaccurate and i think that polsters have dup a lot of work over the last four years and if its really a consistent effort on the part of Trump Supporters to underplay that support then you could certainly see another round about performance on election day but i think that it is worth remembering that theyre working to improve it all the time you can expect them to generate better results and youre doing this. Like the trump campaign. 2016 was not a good look for a lot of pollsters i can tell you this, i drove back and forth between wisconsin, michigan and ohio nothing else to do drive around and i can tell you the eye ball test for what its worth, and maybe its worth nothing, but in wisconsin, a lot of trump signs, a lot of trump bumper stickers as well. It seemed a lot more in your space than i remember in 2016. What do you make of this hidden trump voter . How much do you think that might come into play or do you believe that the president , unlike 2016 is in serious trouble. I do think that at this point you have to give the nod in terms of who is the favorite right now to Vice President biden. Things could change but for now, you have to believe in President Trump as the underdog here in that he is going to have to move the needle between now and election day in order just to win that out youre going to look at wisconsin and florida and youre going to be looking at North Carolina and arizona and right now youd probably rather be in the former Vice President camp. Really quickly, before i let you go i want to ask you this, Diane Feinstein going after Amy Coney Barrett on her faith catholics make up one out of every five americans do you believe that this is a sort of a risk, this entanglement of religion and the Supreme Court could be a risk to the democrats and maybe kind of a hit to biden only because to your point at the beginning, it steals the headlines. Sure. So theres a pretty famous interaction between senator feinstein and judge Amy Coney Barrett when being confirmed for her federal court seat and democrats probably learned an important lesson around not making this about faith per se theyre going to point to the fact that theres already five catholics on the Supreme Court and theyre going to point to the fact that their candidate for President Joe Biden is a catholic theyre less likely to fall into that trap this time around than they were the last time. Atsing u. S. China tensions and wh they mean for investors were back right after this. China and the worlds relationship with that nation. Joining us is the president of the Asia Society Policy institute and of course a former Prime Minister of australia. Its great to have you on because over the weekend we learned or at least it was reported that the u. S. Had imposed export restrictions on any companies that are looking to sell goods to Chinese Semiconductor giant smic. Tiktok thats people dancing on video smic multibillion dollar corporation. What do you make of this move if true because it does seem like yet another economic escalation. I cannot confirm the accuracy of the most recent report but what we have seen in the political entrails in washington over recent weeks and months is a slow and steady drum beat from the administration concerning exports from china first, the artificial intelligent sector and now potentially in other sectors for other applications as well it depends so much and will be concerned by the most recent development. It appears like we are going to two local economies were talking about banning tiktok here. You cant use google most of Microsoft Office software is pirated. It appears that were going toward two economies the chinabased american and the western economy and they may not even connect only through commodities and hard goods how does this play out in ten, 15 years its starting to look like a reality. You just pointed to the trend lines so what does it mean the United States being an open economy and having established economic trade and Financial Relationships across the world will have an Extensive Global network upon which it can rely however china is now developing the Road Initiative countries. Theres 75 of them and theyre not all developing countries in africa and asia and latin america, theres some in Eastern Europe and some now in western europe and so the faultlines will not just be china v. The rest, but lets call it the china centric economy. What does it mean . Its 1. 5 not 2. 0 but 1. 5. That is we begin to see it splitting off in certain areas of Economic Engagement but not a complete splitting off of this stage. Yeah. And you wonder how it all plays out because through that belt and Road Initiative, china in some cases has a literal pipeline for oil or gas with russia obviously and then a figurative one and the Raw Materials that we need with your country as well. Raw minute trals, rare earth minute trals, all the stuff that you need to build the next generation of electric cars and batteries. Right now it does appear to be mostly controlled by 85 of the worlds supply is coming from china. Is there any policy response outside of just outright bans that might work here in making sure that the rest of the world has access to the minerals that we all need to do what we want. Well, the bottom line is, i see a lot of policy coming out and im not sure what the strategy is, that is in terms of what Behavioral Changes the United States is seeking to engineer on chinas part and friends and allies around the world. On the question, its a significant repository for a whole range of railroads and im sure the australian economy for the companies that operate in that sector will continue to supply across the world through an open and free market but more generally, we seem to be catapulting in the direction toward a level of the global economy. Certainly unfolding in direct investment and in tech but still no rules for the road that is next welcome back no time for the rbi today because we asked you about work from home. Were going to do it tomorrow. Dont worry. We want to give you more time to look at the poll and give our guest as much time as possible joining me now is Courtney Gibson its been one of the busy mondays but its great to have you on the great debate is this can you just throw your money at an index fund and let it ride because stocks always go up or do you have to put in some work and do some work and buy individual names which is hard and scary . Its so good to see you this morning. Really looking forward to chatting well, you know, its kind of interesting, right, so it totally depends on who you are, what youre doing and your skill set. I think a lot of people can say, oh, i should be buying individual stocks, really they should be index funds but they dont know how to evaluate it. For me personally, im doing some of the picking of names that i know and like and adding to names in my portfolio everything has been on sale the last few weeks im looking at the stats this morning. Theyre staggering you have names closer to the 50 Day Moving Average i dont know another time, i mean, you can go back to i think august of 2019 the last time that you had four down weeks in the dow, the s p and the nasdaq 100. So its been an incredible time if you know the names that you like and the names that you want to be in to be able to grab names that pop into your back pocket for the next few weeks. I know that you have been long and strong on uber, even during the height of the pandemic and oh, the industry is finished going to let your license back in london. The stock is up 6 now you have to buy when other people are selling. Absolutely. If you can stomach it, take some alka seltzer and put names in your back pocket these are names that are going to win and people have been really down on big tech and uber is a name back and forth and they want to trade around the legal troubles or legal potential troubles as we saw coming out of london but its one of those things where uber is a name that prepandemic changed our world. Lets think about what happened. During the pandemic, what did they do, right they morph they thought about ways that they could grow uber eats. They brought post mates and created additional operational efficiencies you want to be in companies that can morph and shift as it relates to the difference of what were seeing in economies they made investments in markets. Look at what they did in china. Uber is a name regardless of whats happening around the legal woes in the United States they figured out how to become a chamelion in my opinion and its been fantastic. We love it. It was app individual idea the stock is up. Always a pleasure to have you on have a great day and a great week thank you very much. Goes quick on a busy news day. Ill see you by the way on the Halftime Report at noon eastern time today squawk box is next dow futures up 253 have a great one and House Speaker nancy pelosi says a deal is still possible for another round of Coronavirus Relief well take you live to washington no way, the 28th it is. Monday september 28th, 2020. Squawk box begins right now. Good morning, everybody. Welcome to squawk box here on cnbc im becky quick with joe kernen. Andrew is out today. The dow was lower by 2 last week amid growing concerns about the election, conflict with china, conflict in washington between the two parties but you can see this morning take a