Busiest day of earnings season and as we await a vaccine, more positive news from one drug maker about a possible treatment. You are watching Worldwide Exchange here on cnbc good morning, im dominic chu in for Brian Sullivan. We begin with stock futures pointing to a possible turnaround with the dow kit e indicated high, 175 to the up side, s p up by 27 and nasdaq up by 125 the dow and s p are coming off their first single day performances since june 11 the blue chip index seeing its fourth done day wn kaday in a re late february. Since the selling began on friday, the dow has shed a total of 1843 points, roughly 6. 5 it is on pace for its worst monthly performance since march. And it wasnt just the dow Big Technology also taking it on the chin over the past couple of days take a look at facebook, alphab alphabet, apple, tesla, and more together losing some 270 billion in market value just since tuesday alone. All of this coming as the u. S. Reporting its highest number of coronavirus cases in one single day, the case count yesterday, 80,662 we have Team Coverage to start your thursday morning. Here covering everything you need to know from around the world, matt taylor has the overnight trade from asia and b movers in singapore. And london and headlines out of europe and germany is implementing new restrictions and better thrtha coombs cools r top stories. And it was a rough session for asian markets. We did have declines across most of the major averages, but only down between half of 1 and 1 australian was the worst at 1. 6 but china market ended in positive territory up by around 0. 1 japanese Market Holding pretty steady dollaryen right around 1. 04 growth forecast now expecting an Economic Contraction of 5. 5 versus 4. 7 . And shares of sony rallying by more than 6 after the market closed yesterday it was out with some quarter lyy fro profit numbers gaming demand pushed those shares further. Samsung shares dragging the market lower, down by about 1. 5 it reported its best q3 numbers weve seen in about two years or so, but slow chip demand will mean profit in the Fourth Quarter is lower and that drove the shares weaker today. And to the early trade now in europe, julianna, good morning. And this morning in europe, were seeing signs of stabilization. We have some green on the board for europes main markets, but this is after a brutal selloff yesterday with the stoxx 600 dropping nearly 3 spurred in part by the new lockdowns in france and germany it is a big day for earnings in europe as well let me run through some of the highlights for you starting with airbus, it delivered its first guidance since the onset of the pandemic the Company Predicts that it will break even next quarter but Global Travel is recovering slower in an expeslo slower than expected they said that performance should improve in the second half amid rising beer and soft drink sells. And sanofi raised its outlook for the second time this year after beating Third Quarter estimates. They said overall net income was up more than 9 as it ramps up production of its flu vaccine in an effort to avoid hospitals avoid added pressure and they are also on track for its own covid 2 vaccine projects and we have news on lvmh and tiffany, they have agreed in a he lower sale bryce inprice. They will pay 131. 50 a share, down from 135 the transaction is now expected to close in early 2021 back to you. And sticking with europe, germanys federal and state governments yesterday agreeing to shut down parts of the economy and toughen restrictions on social contact. All in a bid to slow the record rise of covid infections over there. And france also implementing new lockdowns of its own anita, what can you tell us about these new lockdowns, how extensive will they be they call it a lockdown light essentially what will happen is that social life will come to a halt so restaurants, bars, theaters, gyms, aim thll that kind of stu will be closed starting fromonw. And private travel is banned essentially. Business travel is still allowed, but also that should be restricted quite a bit so Angela Merkel just was addressing parliament an hour ago and she was surgie ing urgio understand the need of those measures she was saying that for now our capacities in hospitals are still there, but that could actually change dramatically in the next two or three weeks if we were not to do that lockdown light. Just yesterday, we hit another record of 16,000 new infections just here in germany so essentially to sum it up, it will be social life coming to a haflt. It only allowed two household, maximum ten people in public and private. And home working will be also enforced once again. So essentially parts of the German Economy will come to a standstill, but schools and kindergartens and also factories will remain open back to you. Annette, im curious, there has been a lot of i guess credit placed on European Countries for the measures they took and the recovery that they had it didnt take perhaps as long as other parts of the world. How much opposition is there to some of these lockdown measures . Here in the united states, were seeing quite a bit of pushback on governments trying to slow the economy down gasolinagain. How pervasive is it . It is actually growings the pushback, but not as bad as in the united states. Because we clearly have criticism especially now coming out from the restaurants and leisure sector saying this is disproportionate because the coronavirus spreading is not coming from that sector of the economy. But clearly if you read through the minutes of yesterdays meeting at the chancellory, it is clearly a decision between closing down that part of the economy and leaving the schools each, both open is not possible. And what Angela Merkel was also saying is that in two weeks time, they will revisit the measures taken, that they could actually even enforce others or perhaps scale them down once again if they are successful so to answer your question ag n again, there are protests especially in berlin and other big cities, but this is only a minority i guess the majority of germans is standing behind those measures because they see the need of doing that annette, thank you very much for that back home, dr. Anthony fauci striking a somber tone when it comes to the growing caseload in the united states. Bertha coombs has that and more headlines this morning good morning. Yeah, numbers are not going in the right direction. White house coronavirus adviser dr. Fau economy oig saci says ts in a bad position as coronavirus cases and hospitalizations surge in many parts of country fauci speaking with Shepard Smith last night if things do not change, shep, if they continue on the course were on, there will be a whole lot of pain in this country with regard to additional cases and hospitalizations and deaths. We are on a very difficult trajectory we are going in the wrong direction. His comments coming as the u. S. Recorded homore than 80,000 cases in a single day for the first time ever. And meantime some positive news on the virus front regeneron says data from its late stage trial, the one President Trump received when he contracted covid, show that patients outside hospital care who receive the therapy were 57 less likely to require medical care later the company added that the drug appears most potent for those at higher risk including older patients and those are chronic conditions and u. S. Law enforcement is reporting a rise in cybercrime targeting hospitals around the country with ransomware attacks. Agencies say that they have credible information of increased and imminent cybercrime threat to u. S. Hospitals and health care providers. Some hospitals have already been forced to pay ransoms after being locked out of their own data networks. Obviously hospitals already have their hands full but like everywhere else, when you have people working from home, that just creates more opportunity for hacking. Absolutely. Bertha coombs, thank you very much why our next guest says the recent downturn is a buying opportunity for stock pickers, the names on his radar, that is coming up. Plus first it was snapchat, now facebook pain is another social medias gain that mystery chart revealed next and later on, Big Technology back on the hill the Fiery Exchange between jack dorsey and senator ted cruz. Welcome back lets get a check of some of the stocks on the move pinterest, shares are soaring after reporting Strong Revenue and user flogrowth in the Third Quarter and significantly greater engagement than it did in the spring and says it benefitted from the advertiser boycott of facebook. Pinterest expects revenue to grow about 60 this quarter. Those shares are up 31 in the premarket trade and shares of ford are rallying after they had a 2 billion jump in Third Quarter profits, ford saying its focus on pickups and suvs is paying off and it took advantage of stronger demand am mid low inventory dealers. Jim farley took over on october 1. Shares up 6. 5 and service now, rounding out our trifecta of higher moves today, as the Business Software maker posted Third Quarter revenues that edged past estimates. Service now disclosing that it has more than 1,000 customers with more than 1 million in annual contract revenue. Those shares up 2. 5 a rough few days for the dow, losing over 1800 points just since friday. As you can see here, those point moves modest on friday, but have kind of accelerated throughout the course of this week. And here we are at thursday, what will come next . Virus closures and recovery concerns putting the indexes on pace for its first month since march. All of this comes as the busiest day for earnings, about 40 of the s p 500 has already reported and earnings are down almost 15 compared to the same time last year you can kind of see the moves here and revenues by the way down about 3. 5 versus the same quarter one year ago joining me now is sandy villery. Great to have you. We showed the statistics on earnings, what happened with the dow. What does it mean for longer term investor, are you worried about the election in. Yeah, frankly, that is the number one question im getting from my clients, what will happen with the leaelection so it is until certain but we have the uncertainty around the election, uncertainty around the number of covid cases, but in a couple weeks here, we will know that there will be a president. That certainty will be there and then were looking forward to a vaccine and were also looking forward to 2 trillion in stimulus perhaps and maybe it doesnt happen until early february, but a lot of these unknowns will be knowns. So we want to take this opportunity and buy on weakness that we could see possibly down to 3100 on the s p, which would put it right at the 200 Day Moving Average and so that is where i will get more heavily invested at that point. Does that mean that it does not matter who sits in the oval office come next week or beyond . Well, there is clearly differences between the two. We augull know that but investors do not like uncertain uncertainty. And there will be certainty at some point and i think then people can sharpenen their pencils. Under biden, you might see value stocks work better and under trump, you could see more Growth Stocks working better. So i think people need to sharpen their pencils and calculate based on who is in the white house. But again, once there is certainty, the market will already be moving and i think people need to get involved before that certainty happens. And so youve been doing a lot of homework. What types of allocations are you looking at for the coming 6 to 12 months when i look at the variatitas coming out of this recession, which if we went into it in february and maybe came out of it in may, are already seeing small caps lead in the months ever october and so when i look at small versus large, i want to be more in smaller mid cap and when i look at growth versus value, there has been about a 25 out prcperformance by growt year it date i to be able to revert to the mean so we look for individual companies that are cheap relative to their Growth Profile and avoiding the faang stocks that everybody has fallen in love with. When the herd rushes in, that is when we want to rush out all right, sandy, thank you very much. Still on deck for the show, a live report from paris, where the government is imposing new lockdown restrictions to try to stem the record breaking spread of covid france finding itself the new epicenter of the second wave 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. Futures looking to try to rebound after yesterdays spectacular very large selloff, 943 points shaved off the dow. Right now the dow jones is implied higher by 185 points we were kind of close to 200 at one point. Some of the premarket gainer, you can see were looking at shares of ford up by about 6 after earnings twitter shares up 5. 5 premarket and welltower up about 4. 5 as well when we come back, much more on the recent volatility, what Charles Schwab he Charles Schwab is telling its clients. But first shares of marvell reportedly nearing a big deal sn lerhiwet could be announced asooasat ts ek perhaps. Im 53. But in my mind im still 35. Thats why i take osteo biflex, to keep me moving the way i was made to. It nourishes and strengthens my joints for the long term. While helping with occasional joint stiffness. Osteo biflex. Expectand action. H occasional joint stiffness. 16 people died did he catch our bad guy . Were know as the charmed ones. You got one day to show me what you got. I want to fight. You need us harry. What a goal bockey ball, hockey ball, you name it ball. Im gonna be ready. Just say show me peacock into your xfinity voice remote or download the app today. Outbreaks, earnings, and an election stocks trying to stage a thursday rebound after their worst day in months. Big tensions for big tech, just one day after testifying before the senate highlights from yesterdays hearing and what it means for earnings today and pair rigs ris on lockdown as continue to surge. A live report from france coming up it is thursday, october 29, 2000 you are watching World Wide Exchange on cnbc welcome back im dominic chu in for Brian Sullivan this is how stock futures are looking. We could be seeing a bit of a move higher, 200 points to the up sid impe implied if these fus hold s p up by 33, and nasdaq up by 151 implied there as well. The dow and s p are coming off their worst single day performances since june 11th the blue chip index seeing its fourth down day in a row, that is happening for the First Time Since its 7 day losing streak that happened in late february since friday, the dow has shed a total of 1843 points and it is on pace for its worst monthly performance since the depth of the covid market crisis back in march. Big Technology Getting hit hard. Facebook, alphabet, apple, tesla and more have shed some 270 billion in market value just since tuesday. And it wasnt just stocks. Volatility the surging as the vix hit its highest level since june 15th. As you can see all the way back here remember, the heights of the crisis, we were closer to 75 and 80 still though, rising stock market volatility as we head toward the big election tuesday. All of this as investors brace for an onslaught of earnings today. 13 of the s p has reported results. And as the u. S. Reports its highest number of coronavirus cases in a single day, the case count yesterday, 80,662 cases, a record high for new cases in the u. S. Around the world, a mostly lower session in the asian overnight trade. You can see the nikkei and japan off by 0. 3 . Europe is just 90 minutes into their trading day. You can see generally positive fractionally speaking. Dax after taking a hammer yesterday up nearly almost 1 . And the cac up by about half a percent as well. One stock to watch overseas, Royal Dutch Shell shares popping after upping its dividends the stock is more than 20 lower over the past three months, but still 2. 5 gains for that Anglo Dutch Oil major. Sticking with europe, germany and france implementing new lock dunn measures to help stem the rapid spread of covid19 and the efforts start on friday and remain in place until new infections fall to 5,000 from the current level of 40,000. Matt bradley is joining us live from paris so matt, weve heard a little bit more about just how kind of extensive it will be how exactly is it starting to look, are things starting to die down, is there less traffic in the streets. Reporter no, absolutely not. Everything is the same the French Public have until about midnight tonight and that is when the new lockdown comes into effect. Even is out trying to get in their last couple drinks, last couple coffees before it really goes into effect and followed by the economic pain that we saw back in spring, germany will be in the same boat starting on monday even though germany isnt nearly as badly of a fliktsed as here in france the problem in germany, they have the equipment, but they dont have the personnel in the hospitals to meet the deef hand that they are expecting will come in the next couple months here in france, Emmanuel Macron has said the increases in cases every day is troubling, but what really caused this new move toward a reconfinement here is the number of hospitalizations because cases have been going up for about two months s here icu units are about twothirds filled. And as the lag effect of those new cases with new infections reaches more elderly people, they are worried that the hospitals here and throughout the country will be overwhelmed. We heard earlier on annette called it lockdown light is it the same thing in france as well . What will remain open despite the fact that restaurants and bars and jims agood gyms and tf things will remain closed . Reporter yes, schools will remain open and people can telework and businesses are supposed to stay open even though french authorities are really asking people to try to exercise social distancing they wont be closing most businesses and schools by force of law so there is a voluntary element here, but again, restaurants, bars will be closed. Back in the summer, the imf said france could lose as much as 9 of its gdp this year and with this new confinement, they might have to revise those numbers. This will stillbly quite a bit of economic pain matt bradley, thank you. Keeping a close eye on the Financial Impact of these new restrictions as futures right now try to bounce back from a massive move lower yesterday dow jones implied higher by roughly 170 points we lost over 1800 points since friday joining me is Jeffrey Kleintop are you worried . This is not good news, but something that weve been expecting. There was a race between covid cases and the vaccine and it looks like the cases are winning. But this is a little bit of lockdown light and we know it can work we saw a four week lockdown in israel be very effective in dropping the number of cases this is somewhat discretionary lockdown in france and maybe germany. But it may work. And that is important to what it means for the markets. Because the obvious conclusions may not be where you want to go here, meaning that the more cases you see, the moore lockdowns and the worst stock market by country. Arising rate of hospitalizations and deaths may mean more for garnering support among the population for the lockdown. We are seeing some places where the Health Care System is ov overburd overburdened spain as well as wisconsin so you cant just say i want to invest in the u. S. Were seeing that too. And the second reason is the more restrictive lockdowns dont necessarily mean worst market performance. Weve seen that this year. The best performing market this year is china where they implemented the most aggressive lockdowns earlier this year. And finally, it really matters where manufacturing is versus services in your economy and stock market these restrictions are targeted really on services and entertainment. Manufacturing is booming right now. Manufacturing only makes up about 17 of the global economy, so it is not enough to reverse the weakness so profits may be better than the economy. So all of this matters so the conclusions are not that simple that you can just look at cases say rising in europe and the lockdowns and say i shouldnt be there in fact yesterday europe stocks outperformed u. S. Stocks something to keep in mind. And if we just look at services versus economy, i know it is more domply indica lcompl seems like service not only drive the World Economy but the World Markets as well. Is there a case to be made because manufacturing wont be as readily shut down that Manufacturing Type companies will do better we certainly havent seen that over the last six months it has been big tech well, youre right about that tech has been leading the way the whole time but what is interesting is what were seeing underneath the surface. So far this year the allcountry world index excluding the u. S. , so all international stocks, on an equal weighted basis, is outperforming the s p 500 on an equal weighted basis by 200 basis points this year that is the first time that has happened in a long time. So there are a number of things happening underneath the service. And one of the reasons is more manufacturing. There is more of a cyclical exposure in europe yes, that can hurt if we go into a renewed recession, but if this is weeks and not months of a lockdown, i think that we could actually see these companies do better manufacturing is booming around the world. We can see that in the shipments for the Holiday Season which has to get to Amazon Distribution Centers by november 6 for black friday and cyber monday. Absolutely huge amount of row du proceed duct being moved around the world on ships what is the driving forceduc the world on ships what is the driving force behind markets post election, mid november and beyond, is it the u. S. Spending picture, should we be paying more attention to the projections of how much money the u. S. Consumer will spend around the Holiday Shopping season . I think that is a very prize point. One of the things certainly a full blown lockdown could be the return to recession even in the u. S. , but these restrictions may have less impact yesterday the french Consumer Confidence number fell one point in october from september. That was slightly above expectations it returned to where it was in july and august, which was of course after the first wave of covid and when the stimulus was being put in place consumption may take a hit, but now french consumers are more confident. So that will be critical here. Jeff kleintop, thank you very much coming up, could Big Technology speaking of be flashing buy signals after yesterdays massive market meltdown but first as we head to break, some of your other top stories. Exxxxonmobil announcing that it will keep its Fourth Quarter dividends flat, that is for the First Time Since 1982. Exxon reports earnings tomorrow and has pledged job cuts that could be announced by the end of the week and Swimming Pool supplier leslies will go public at 17 a share to sell 680 million worth of its stock the ipo values the arizona based company at 3. 2 billion. And jcpenney has entered into an Asset Purchase Agreement with Brookfield Asset Management and seem imon property group. The retailer had filed for bankruptcy in may. Jcpenney says the agreement should allow them to operate outside the chapter 11 bankruptcy process before the Holiday Season in a few moments, Rackspace Technology will enter a new and exciting chapter. Across muticloud, apps, data and security, we focus on solving the business problems of our customers with technology we are a type of company the market has not seen before. Going public will further invigorate our mission to embrace technology, empower customers, and deliver the future. To embracand remember thepower customemoment that things, for one strange time in our lives, got very quiet. We worried over loved ones, over money, over our planet, and over takeout. Lets remember this time when so many struggled to feel secure, and build a future where everyone can. Because when the world seems like its standing still. Thats the perfect time for us to change it. Welcome back among todays stocks to watch, shares of etsy are rising after earnings and revenues beat street forecasts they are benefiting from pandemic shopping trends face mask sales made up about 11 of etsys gross merchandise volume sales gilead shares under a bit of pressure earnings and revenues tomorrowed consensus estimates, but the company is cutting its full year revenue forecast, it blames uncertainty around covid19 treatments like its remdesivir, those shares off about 1 premarket and ebay shares are slipping despite reporting better than expected Quarterly Results there is a slightly weaker Quarter Sales forecast back to the broader markets. Today is both the halfway mark and the business jeest day of e season with 13 of the s p 500 set to report results. Several Big Technology giants will be out with numbers just minutes after the closing bell you have amazon, apple, a if aa belt and twitter all reporting this is after ceos of three of those companies faced off with lawmakers yesterday in a hearing intended to review a key law that gives Online PlatformsLegal Protections against consistent posted by their users. But the socalled section 230 was barely discussed as democrats asked about regulating the spread of misinformation related to the election and covid. Republicans focused on censorship and the political leanings of the employees responsible for moderating the content on those sites, including in this exchange between senator ted cruz of texas and twitter Ceo Jack Dorsey you dont believe twitter has any ability to influence elections . No, we are one part of the spectrum of information that people have. So you are testifying to this committee that twitter when it silences people, when it sensocr speech, that has no impact people have choice of other indication channels. Joining me now is head of thematic research at globe balance data cyrus, this is nothing new we know that lawmakers have been targeting Big Technology for a while. Was there anything that stood out from yesterdays testimony among those three ceos that changes the narrative or moves the ball forward in either direction . I dont think so. I think yesterday was a bit of a disappointment for investors and all other stakeholders in big tech because really what we wanted to see was a way forward on regulation. Even big tech agrees that they need to be regulated but we saw more political point scoring than any moves forward in regulation. Cyrus, when it comes to those three companies, we were talking about alphabet, facebook and twitter, who are straight social media. One is more diversified technology and of course youtube is a big platform there. Are there certain parts of the Big Technology ecosystem that are perhaps facing more scrutiny than others given this kind of sentiment in washington, d. C. . Definitely. I think there is no question whatsoever the top of the agenda right now is misinformation. And that is related to data life and how we handle data but the really big issue is i think that regulators are missing the point. Regulators are talking perhaps of breaking up big tech. What they should be talking about is changing the Business Model under which big tech works which is it is all about data. They have a monday opoly becaus they dont share it with other people, they have too much of their data on their own servers. So a possible solution is to give control of that data back to the consumers who should really own it. How big of a deal is this im thinking of two words and those are cambridge and analytic those words were very big just a few years ago with regard to day a privacy, harvesting user data, all of that stuff blew over after a while for facebook is this going to blow over i dont think that it is. I think the regulation theme will be more and more of an issue for big tech but you can split big tech into two areas. You can take microsoft, amazon and apple which is less concerned with data, although amazons revenue is pretty big and then google and facebook on the other side which are essentially internet advertising companies. And if the privacy thing gets big, and i expect to, than those companies will be more damaged than the first lot is there a bigger battle developing not just between these Big Technology companies and lawmakers but between themselves as well i ask only because im in the market right now for certain maybe smart home devices im look being at products from alphabet, amazon and apple and others how much more of a big deal will this be regulating big tech in world where competition is heightening amongst the biggest players . I think the key issue is transparency you know, if you enter into a contract with anything, lets say to buy a smart device, you know roughly how much that costs. You know what you are paying for and what you are getting back. If you enter into a contract with facebook or google or twitter, you get Free Services and in return you are paying them with your data. But you didnyou dont know how that data or how profitable it is but you just have to look at facebooks or googles propfits to see that the consumer is not getting a good deal. So the answer is to make things more transparent and give the consumer back control of their data and in terms of technology, that is a nobrainer. The Technology Already exists. We need to decentralize the web. So instead of having all the data on googles server, you have all the data on somebody be elses servers and that is controlled by you and me, the consumer decides when to switch it on for google to get better search results for example and we decide when to take it off. We might want to leave facebook for example. So what is the biggest thing you are watching in that big slate after the bell earnings reports today. I think the big thing im watching is the impact of dhoch. And other news about antitrust and how these companies will handle it. Cyrus, thank you very much for your thoughts. On deck, daded ack dazed ang if you are feeling that way, you are not alone. What investors should do, coming up next. And you can always watch or listen to us lord live on the cnbc app stocks trying to claw back a fraction of yesterday hes loss. Dow futures around 150 points. The dow coming off another point loss yesterday, its worst since june and were now down more than 1800 points just since friday alone and with Big Technology results on tap, those stocks trying to bounce back after losing a kochl bined on that screen there 273 billion in market value just over the past two days joining me now is kerry firestone, a cnbc contributor. Part of our fast money halftime crew lets talk about whether you are worried about what you saw the last three or four sessions. Well, dom, you cant be thrilled about it. Obviously the market is facing this type of binary choice where on the one hand we see covid cases climbing and europe shutting down again. We dont have a stimulus package, it doesnt seem that well have one before the election and then on the other side, we get daily closer to a vaccine. And that is the hope of the market, that is the hope of the world, to have some way in which we can reopen. But what is weighing on the world today and the market is the immediacy of no stimulus and the covid cases climbing so we have to look at this re realistically and say here is the market, it has had this incredible surge since march, went all the way up 57 into the high of early september. Now it is taking this pause, it is coming back a little bit, some stocks perhaps extended do we have a lot of down side in the market and you know, we would submit that the market is in a better shape today than it was back in february, march, april we know what weve been through. We understand that we can mitigate, we can stop this progression of people wear masks and take precautions i dont think that the any is goi any is shut down and i believe that were two months away from big data from at least one vaccine maker. S fed wi the fed will be positively inclined and we believe that there will be a stimulus package whoever wins and so Interest Rates are very low, they will to be quite some time. We have got pretty much fiscal stimulus coming down the pike, just a question evof when. So do valuations matter . Well, of course they have to matter. And if you look at the type of stocks that have been helped to some extent by covid, the type of Business Models that thrive under a remote environment where people need to be distant, whether it is ston, netflix, you know, a gardening company, home depot, thermo fisher, those businesses have been very strong, stronger than expected the earnings that are coming through from those Companies Like twilio, sherwin williams, they were besh expetter than exd and so we can keep bringing the earnings up. You will pay more money for those earnings as they come higher what we worry about is the overall valuation of the market and some of the stocks that of course have gotten extended. If you look at what happened to apple at the beginning of september, it dropped 15 fast now, many of these stocks that have gotten a pretty extended and extreme because of enthusiasm over their business and what they are doing through the coronavirus have of course doubled, tripled, quintupled, and so they probably should come down and have come down. And i dont think that is inconsistent with feeling that the market can maintain a level that shows the positive nature of those businesses. And wants to own them. I just think that it is a matter of how much you pay for them and whether again the market needs to look at those with a hard eye and say perhaps, you know, peloton, we didnt own peloton, perhaps it is a little extended, it should can back, but then people will buy it because they will see the future. Just good 20, 30 seconds left here is there a favorite pick that you have, something you want to buy right now in. I think that right here we would buy a few of the names that we see correcting whether that is visa or paypal on the payment side because that market is really growing we also like American Tower which has come down and of course with everyone on their cellphone and zooming all day, we need a lot of connectivity. We like chart ter communications also karen firestone, thank you very much. Ua and that does it for us. Sqwko squawk box is next its moving day. And while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. It only takes about a minute. Wait, a minute . But what have you been doing for the last two hours . Delegating . Oh, good one. Move your Xfinity Services without breaking a sweat. Now thats simple, easy, awesome. Xfinity makes moving easy. Go online to transfer your services in about a minute. Get started today. Good morning searching for direction beginni gingerly, looking for firm round, wall street looking to recover from its worst selloff in months. And in the backdrop for todays session, a rise in covid cases, a flood of earnings, and a Major Economic report could ydue out. It is thursday, october 29 and squawk box begins right now. Good morning, well coucome squawk box. U. S. Equity futures at this hour are looking better than they were yesterday at this point you are looking at the dow bouncing back by about 172 points in the premarket, that of course is nothing near the loss that we saw yesterday right now the s p 500 is indicated up by about 27 after losing about 120 points yesterday. The nasdaq indicated up by about 130. But if you look at the damage from this week, the dow is actually done more than 6 just for the first three sessions this week. It is on pace for its worst Weekly Performance since late march. The index of course last more than 1800 points just since the selling began on friday. Dow sitting at above 28,000 on friday yesterday it closed at