Joe biden making that final push to win over voters just days before the election. Brian sullivan lays out the big guide in one big battleground stooit stat state. And well go live overseas into the deep dive an app hes success. Youre watching World Wide Exchange good morning, im dominic chu in for Brian Sullivan. Lets get right to how the money and the markets are shaping up right now as you have been seeing in the corner of your screen, stock futures are indicating a lower open, right now the dowism app isdow implie nearly 400 points. S p by about 49. And the nasdaq lower by 220. Well get in to that more. Stocks are looking to cap off what has been an incredibly turbulent week the three major indices are now done between 3 and nearly 6 so far in just that short time span alone. It is also the last trading day of the month and october proving to be a tough one for investors. The dow down nearly 4 , the s p down 1. 5 . And the nasdaq with a fractional gain, although we know the nasdaq could be implied much lower this morning again, it is all about Big Technology shares of apple, amazon, facebook, twitter, all in the red this morning following earnings, alphabet the Parent Company of google, the only tech giant as you see he seeire seei some gains, a realut yesterd yesterday. And lets go to julia. And we opened up in the back foot, but now we have some green on the board just in the last moments, the cac 40 has crossed into positive territory. In spain, the ibex 35 also trading slightly higher. So we did start out on the back foot, but now some stabilization coming through and this is coming into todays session the stoxx 600 was don 5 so the opening off a brutal selloff early in the week. Today concludes a busy week for earnings Air France Klm has posted a 1 billion euro Third Quarter loss and is warning of worse to come as france reimposes National Lockdown measures for at least another month. The renewed restrictions will accelerate another claches ollan air traffic and now expects to operate at around 35 of its capacity in q4 and shares are down about 3 novo nordisk posted Third Quarter sales growth of 2 driven by higher demand for its drugs. The ceo says the firm is seeing a gradual recovery in patients initiating diabetes treatment and reiterated its full year outlook, but there is a bit of a pull back as well, down about 1. 5 julianna, that nk you very much in the u. S. , crossing a pair of grim milestones. Leslie picker has more on that and the mornings other top stories. Good morning. Thats right, the u. S. Has now reported 9 million coronavirus cases, this is after this country saw a new single day record of infections, 80,622, that marks the first time the u. S. Had crossed an 80,000 case threshold since the start of the pandemic and the third time in a week that daily case record was broken minnesota, ohio, kansas, south dakota, all also set records for new cases. And stimulus talks between nancy pelosi and Steven Mnuchin have stalled once again mnuchin is accusing pelosi of pulling a political stunt after she said that she had not heard from the Trump Administration on a number of key differences for a potential deal while an agreement is not expected before the election, pelosi has signaled she wants to continue talks after americans head to the polls. And mcdonalds a facing fresh level action after being hit by a multibilliondollar lawsuit by franchise owners. The class action accuses the fast food giant of Racial Discrimination for steering them to underperforming stores. The suit was filed by the firm representing 52 black former franchisees who filed a similar lawsuit in late august in a statement mcdonalds says in part we take the allegations of this case very seriously. Mcdonalds is a valuesled organization committed to diversity and equitable opportunity and the claims made by plaintiffs fly in the face of everything we stand for as an organization leslie picker, thank you very much back to the markets. Stocks look to set under renewed pressure major averages on pace for that i worst Weekly Performance in months volatility remains elevated as investors wrestle with the uncertainty around the election, rising covid cases the vix touching a high of 41. 2 yesterday before pulling back. Its highest level since mid june joining me now, Michael Sheldon at Rdm Financial Group this is an interesting move here only because it has come so close to the election. Where has it been and why the volatility spike right now just days before . As you pointed out before i got on, the markets really right now over the near term, the pullback is likely being driven by the rise in the covid cases, upcoming election and breakdown in stimulus talks. That is the near term. We think that it is important to point out that parts of the economy are prospering during the downturn and have gotten stronger, but other parts of the economy have been left behind. So it is really a bifurcated economy. As you look ahead, one of the important things were focusing on is the fact that if you look back at Economic Cycles and data since the late 1940s, economic expansions typically last about six years or so whereas economic retractions typically last about three months so we think that were in the early stages of a longer Economic Cycle, but clearly a pullback of at least near term weakness what did you do ahead of the election if nothing or is this just noise, and wait until things shake out and lets wait until we know what will happen with the next four years in the white house . How exactly do you position . We really want to look at the facts, find out who will be in office, what the tax rates will be before we make any large changes for client ports follow i donts so at this point, were sort of monitoring the situation and once the election facts are known, then well have a better idea on what type of changes we potentially may want to make on the investment side of our portfolios are you perhaps worried, optimistic, pessimistic, a little more so on any one candidate or any change of power in congress . What is the trajectory for the u. S. Economy regardless of who is in office at this stage the two candidates are obviously very du different in a number of ways and their outlook for the economy is quite different. But i think one thing that is common is were likely to see more fiscal policy and that should provide at least a backstop and a little bit of tail wind for the economy as we head into 2021 so no matter who the candidate is, there will be sectors of the company a economy and companies that will likely perform better. And either stimulus package would likely provide some economies for the economy and obviously we probably wont have a full blown economic expansion until we have a vaccine. There is a promising candidate right now, but we still dont have that to really get consumer and Business Confidence back on track. So we have about just a minute left here lets say there is a possible scenario where sectors outperform or underperform given each particular candidate or outcome. Are there sectors you focus on in the event President Trump wins or Vice President joe biden wins in terms of sectors overall . There will certainly be areas of the economy that we may under or overweight. But right now we need a bar bell approach because there are a lot of unknowns. Even though technology is down today, we think that there is an exciting opportunity in areas like 5g, artificial intelligence, ecommerce we also own health care as sort of a bar bell approach and then we own some of the Consumer Discretionary stocks because we do think that were in the early stages of an Economic Cycle even though there will be some bumps along the road so one thing the candidates do have in common is Infrastructure Spending so we think that is a possibility that both candidates may agree on and that could be an area that we add to but again, we need to find out more about what the makeup of congress will be as we head through the next several days. Michael sheldon, thank you very much. Appreciate it. When we come back, a look at this mornings stocks to watch including netflix and why it may cost you more for content in the coming weeks and months. Plus, amid surging virus cases around the world, we talk to the ceo of one Company Working with the airlines to screen passengers and later on, with just days to go until the election, the potential market impacts depending on who takes the white house. Change is all around us. Shaped by technology and human ingenuity, we can make it work for you and your business. Welcome back Dow Jones Industrial average implied lower by nearly 400 points the s p would move lower by 46 and the nasdaq down by 211 Big Technology stocks very much in focus right now take a look at the dow laggards, apple on the heels of earnings, microsoft, Cisco Systems and intel and dow ink a thinn think keep an eye on it. And it will cost more to binge your favorite stories, that is surrounding stocks to watch. And leslie picker has those details. Thats right, netflix is raising prices in the u. S. For its standard and premium subscription plans, the first increase since january of last year the standard plan goes up by 1 to 14 a month while the premium tier is rising by 2 to 18 a month. Now, the basic plan will remain at 8 a month. Netflix citing the cost of creating original programming. Delta air lines has reached a tentative deal with its pilot union to avoid furloughs through next year. The agreement which still needs approval from their nearly 13,000 pilots will can you tell their Monthly Minimum guaranteed hours by 5 . And starbucks Third Quarter adjusted profit revenue beat, same store sales dropped 9 . The number of transactions in the u. S. Fell 25 . But when customers did come, they spent a lot more per order. The early launch of Pumpkin Spice latte in august also fueled sales Kevin Johnson will be on squawk on the street at 9 30 a. M those Pumpkin Spice lattes, they are like 6 for a psl these days. Luckily im not a psl type person, but i have my coffee next to me now the highly anticipated ipo by ant financial, demand for the chinese tech giant is at a fever pitch right now with a key focus on Payment Technology. Eunice yoon is joining us with more on that big financial offering good morning, good evening good morning, dom you know, the order books are all completely closed as of today and the shanghai portion is oversubscribed by 872 times, hong kong 150 times. Investors are betting big on the app that is really all things financial for the chinese. And earlier today, i spoke to one businessman who said that his company probably wouldnt be around if not for this app reporter he says his noodle chain could have gone under if it hasnt been for this app. After getting nowhere with the traditional banks for financial help, he applied for a 3 million loan with ant alipay he got the money the next day. The banks processing time with a too long, the same issue for vcs, he says we would have been dead. Small private businesses like his generally have a tougher time getting money from the big banks compared to the big state firms. Ant has expanded fast because its loans and credits are easier and more accessible to everyone whether a business or customer and at a customer here, im paying with alipay you can also pay your bills, cab rides, parking and if you are one of the 700 million chinese who dont have a credit card for a big purchase, no problem for a fee, ant offers nearly instant credit users also take out personal loans and can invest as little as 15 cents in money market funds on the app and even has a cure for boredom. A popular game keeps users engaged. All of it helps ant alipay better understands the peoples habits and as you can imagine, the listing is getting a whole lot of Media Attention here. Outlets have been reporting that in shanghai, the chances of you getting any shares is 0. 13 . So not necessarily great odds, but at least you get a chance. Sounds like a hot ipo here these days of course a very hot industry these days i wonder, can you tell us a little bit about the culture and climate around mobile payments and Payment Technology in china . I know that here in the u. S. , many people during the virus pandemic are starting to use things like apple pay, samsung pay a lot more, they kind of sb swipe it or wave it over those machines but it has been much more of a phenomenon in china even without the virus pandemic, is that wright that is correct already a big take up of the financial payments, Digital Payments mainly because over decades, the estate banks had been dominant and they are really difficult to deal with. So suddenly we saw alipan and we check pay make it so much easier for people to decide that they will invest in a money market or they will get credit or in some ways do anything that has to do with finance and so because of that, that was the real reason we started to see this massive explosion in these digital apps and then of course there is the pandemic which just hastened the popularity all right. Thank you very much. Still on deck, shares of Big Technology companies under pressure jason ware helps sift through the numbers and which he companies are best poised to navigate all of the challenges todays big number 13. 76 million thats how much amazon spent on lobbying in the first three quarters of 2020 according to data track urse. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. United states cant easily get to a doctor or afford the treatment they need. Thats why goodrx has built a leading consumerfocused Digital Healthcare platform. We wanted to make shopping for healthcare as easy as it is to shop for travel or electronics. As a public company, we hope to provide even more services that help people get the healthcare they need at a price they can afford. Improvement in the trajectory of the market dow jones was implied lower around 400 points, and now about 300. The s p off by 37 and nasdaq 187. Take a look at some of the s p laggards all of the tech earnings pretty much in focus. Firstenergy, devon energy and mgm also in that category. And the impetus for Health Screening that is accepted across International Borders will be key to the recovery for the travel industry. But debate is emerging between the cdc and industry professionals on whether passengers who test negative before an International Flight should still quarantine upon their arrival. Common pass is an app in trials with the airlines where passengers take a covid test before getting on their flight and the data is stored in a qr code it is part of an he was packeff create consistency and standards in Global Travel joining me is paul meyer, part of the nonprofit heading up the app. Please take us through what exactly the ecosystem will look lik you get tested, how many people will accept the results and will it make travel more freely that is certainly the goal. We want to make travel easy and safe so we built an yoe company syst ecosystem of labs where people can get tested action we began trials between london and new york, well be rolling out additional trials with Additional Airlines this month and next before broad scale across multiple routes in january. The idea here is that people it is almost like a health passport, right it is a certification that you are healthy, that you should be able to conduct business or travel more freely but it should come at a cost, right . Can you take us through the economics behind it . How exactly will travel Industry CompaniesLike Airlines and hotels take this, how do you pay for it well, it is a free service for people and it algalways will be but i want to step back. What were attesting is that people have been tested and eventually when they start getting vaccinated, we can also convey their vaccination records. We cant quarantine that people are healthy or have covid, this is just about reducing risk. Were basically saying people can get a pcr test,tes eventually vaccines and be able to demonstrate that they have those things for reducing this so who exactly will kind of foot the bill . I can see a world where the cost of these testing protocols are paid for by the Airline Companies and in way perhaps passed to the passenger overall. So maybe like 10, 20 of my ticket fare or my hotel room or train fare or Something Like that is part of this testing process. Is this something that we can expect to see for the coming years and decade, will there be more of a focus on this type of pandemic prevention protocol and will we pay for it i think the cost of the testing ultimately will be born by the passengers. And i think as testing becomes more and more available with more and more locations, that is something that will be the responsibility of the passengers to take on in terms of the cost of our platform, it will be relatively low fee that the airlines will likely incorporate into as a small addon to the cost of a ticket and you mentioned the ecosystem before what exactly is the next step for the commons project and how do you convince both companies and governments that this is kind of like the right path to take to make sure the economies around the world stay open longer because of a virus pandemic i think most of the airlines around the world are having a converging sort of approach. Governments have a tough challenge. They obviously want to reopen, they want tourism to resume. But they also have a responsibility to protect their populations health. So what were doing, were giving governments a model that allows them to trust Health Information from another country. If you cant trust the information, you dont have much choice but to either have travel bans, quarantines. But if you can actually have someone get tested before they come to your country and have confidence that that person actually did get tested at a p reputable lab, that gives the country more confidence to open up so were trying to give countries an option to be able to have more confidence to be able to begin to relax quarantine restrictions and allow the borders to begin to open all right confidence will be key paul meyer, thank you very much. We appreciate it still ahead for the show, stocks set to cap off a frightening october for investors right ahead of halloween. We layout whether a new month and an end to the 2020 election cycle will provide any kind of relief for investors in the market businesses today are looking to tomorrow. Adapting. Innovating. Setting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere and manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Futures pointing to a sharply lower open as investors look to close the book on the worst month for stocks since march. Big technology under big pressure, shares of apple, amazon and facebook all lower following their Quarterly Results. And just four days to go, President Trump and former Vice President joe biden crisscrossing battleground states in that final push towards election day it is friday, october 30th, 2020 you are watching Worldwide Exchange on cnbc. Welcome back im dominic chu in for Brian Sullivan here is how stock futures are looking as we are halfway through the 5 00 a. M. Eastern time hour. Yes, those markets are in turmoil, they have been since last friday. You can see here the dow jones implied lower by roughly 310 points that is an improvement those of you who were with us at the top of the hour saw nearly 400 point tdeclines s p implied lower by about 38 and nasdaq down by about 180 if these moves hold into the opening bell stocks are looking to cap off what has been an incredibly turbulent weak they are down nearly 3 and 6 so far in just that short time frame. And it is also the last trading day of the month and october is proving to be tough for investors. The dow down nearly 4 , s p 5001. 5 a500 1. 5 p 1. 5 , and nasdaq eeking out a fractional gain. And also want to check out oil prices hovering at five month lows amid renewed concerns about the coronavirus lockdowns and potential impact on fuel demand. You can see wti crude ticking slightly higher, half percent to the up side, 36. 34. World benchmark crude prices 37. 86 we have exxon, chevron also set to post their Quarterly Results this morning before the opening bell now to those big tech earnings, shares are largely under pressure this morning as we see maybe the exception here is being alphabet. You can see just about 6 gains there. Shares of apple getting hit on a worse than expected drop in iphone sales and the company is not offering investors any guidance for the current quarter. For more on the big tech results, im joined by jason ware at albion Financial Group it was a bevy of different reports. Which is the most important one in your mind good morning, dom i think what we were anticipating the most was alp alphab alphabet given the fact that this is the tech that had the largest impact from the pandemic in the Second Quarter, first time google had experienced a year over year decline in revenue and given the trends exiting the Second Quarter management shared with us that they saw trends starting to pick up in terms of ad spend which again was somewhat impacted by covid19. Seeing what happened with google as the summer wore on and how their business is coming through this was critical. And that was a really good report across the board when you had a 5 beat and firing on all cylinders. Ad spending is coming back not only in google, but facebook and twitter as well. So a great report by google. Cloud seems to be breaking out they had expenses under control. So really celebrate what they reported i mean, alphabet is up about 23 or so maybe year to date, believe it or not, that is a lagging stock among those Big Technology mega cap names. A lot of folks saying that this will be the catchup trade, that alphabet catches up. Is this the catalyst that gets alphabet shares to kind of play that catchup game with the rest of mega cap tech and i think the answer is yes. As you noted, it has lagged behind the nasdaq and its larger tech peers for the last little while here i think that there were two o r overhangs on google that have since resolved and probability allowed the catchup relative to its peers. The first overhang as i mentioned, the Second Quarter was surprisingly weak for ad spend for the first time in as long as i can remember and second is the year hang of regulation the doj lawsuit, there was a bit of investor angst about what that was going to look like and i think what we received from the department of justice was a lot more narrow and the indicate that they already fought in the eu and i think investors were relieved to some degree by that lawsuit. It wasnt quite as allencompassing and targeted as maybe some feared. And i think those two elements together lifted the stock. Youtube looked really good in the quarter and regulation looks less burdensome than it would have and lets talk about another hot button stock, lets turn to amazon its shares also under pressure this morning the company reporting better than expected Third Quarter results including soaring profits and 37 Revenue Growth but amazon is predicting 4 billion in covid costs next quarter as it faces this unpredictable Holiday Shopping season amazon shares, they have been kind of like this ultimate beneficiary during covid does that continue we think it does. As you noted, they have been probably the biggest beneficiary of the pandemic. Their business is firing on all cylinders. Whether it is ecommerce, we saw Third Party Sellers up, so that is doing fine. That is one of the secular tail winds and why we like it abs, 30 growth in cloud and operating margins went from 25 to a little over 30 in the quarter on a year over year basis. Advertising is growing north of 50 , so they have a nice burgeoning business there. So really strong beat. Like you said, probably the big negative if you could find one was the guidance on operating income but amazon often has a wide range of potential outcomes because they reserve the right to reinvest and as you mentioned, there is a number of covid costs they are putting in there. So i wouldnt let you worry that too much if you are an investor, stick to really the signal here and that is continued Revenue Growth and strong secular tail winds for the company. One thing i will note, that they guided on revenue for q4 around 115 billion which will be the first billion dollar revenue quarter in amazons history. So amazing to see. And the chart were showing shows a 71 gain already, so maybe a lot of the optimism is baked in id like to take us to apple here this notion that the Biggest Company in the s p 500 is now disappointing when it comes to iphone sales part of that is the upgrade psych be kell, people kind of put off buying the i teen iphon waiting for the iphone 12, is this a chance to buy on the dip . For us, it is to be expected. Weve seen this happen before with apple ahead of large cycles we have a pause in demand. They didnt even launch the iphone in the quarter this time, typically it is a september launch this time it was october so even tim cook on the call said you have to separate iphone in the quarter between premid september and postmid september. So there is a bit of an air pocket there that impacted demand in the United States and also in china. And as we peer out over the next 6 to 12 months, we think the 12 will be a super cycle for apple, probably similar to what we saw with the 6 which was a large upgrade, maybe better than that. 5g, the better camera, the internal performance being upgraded, the lineup from the mini through the pro max looks good to us early signs of demand look really good. So i wouldnt worry too much about the iphone number, that is the rear veview mirror. We see growth so were excited stock is not expensive and sister Advice Services beat expectations so we thought the quarter was fine all right, jason, thank you very much. And coming up in a first on cnbc interview, twitter cfo ned segal will have more on that companys results. Now to the 2020 election, just four days to go, President Trump and joe biden will both be in minnesota today the land of a,000 lakes and that is where we find Brian Sullivan. That lowhello, minnesota reporter this is tale of two counties roch chester is home to the mayo clinic, large areally College Educated and solidly democrat. But outside of the city, it is trump country. And clinton won this county in 2016 by just 0. 7 . A gap the gop thinks it can close. Trump is using the unrest in minneapolis to sway any on the fence voters for weeks ago, he said he thinks that he can win minnesota citing his push to call in the National Guard during the George Floyd Protests right now polls suggest otherwise with biden holding anywhere from a 6 to 9 point advantage. Yet the economy also and nearly always matters prior to the pandemic, the job market in homestead was so strong that it was nearly impossible to find workers about incomes grew and are now nearly 15,000 more than the national average. And though the mayo clinic is certainly a massive part of the local economy, there is enough manufacturing, trucking and Home Building to deep trumps hope alive. The bottom line, both candidates want to grab the gopher state. Minnesota hasnt voted for a republican president since nixon in 1972. If trump wants to turn minnesota red, he may only need to flip one or two counties starting with homestead and brian will have more reports from minnesota throughout the course of the day on cnbc. A very debattleground state there. And coming up this morning, stocks to watch including a gaming stock, a burger train, bo chain, both under treasure but first some of your other top stories this morning, walmart is pulling guns and ammunition off its sales floors citing isolated incidents of civile unrest in some areas the retailer will continue to sell those items upon request. And facebook is acknowledging a technical error due too a number of political ads encorrea incorrectly being paused and huawei shipments plunged in the Third Quarter, u. S. Sanctions are continuing to hurt the chinese tech giant what if you could have the perspective to see more . 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. Lets call it an improvement. When we started the hour, 5 00 a. M. Eastern time, we were implied lower by about 400 points for the dow were now down roughly 250 points so a nice gain there if you can look at it that way. The s p 500 down by 32 points implied, big tech earnings driving much of the trade. And now lets take a look at some of the laggards so far. Lets get a check on some of the stocks on the move acti tit tit tity activision bld it has 300 million monthly active users during the quarter and the two latest call of duty games have three times as many active users as the comparable game did a year ago. Still though, shares are lower as the companys revenue guidance for the year is below analyst 12i7estimates. Shake shack is reporting another quarter of weaker demand, but sales have improved from earlier this year when the Restaurant Industry was hit hard by dining room Closures Amid the virus pandemic adjusted Third Quarter profits beating estimates as did revenues same store sales falling nearly 32 . Those shares off 4 premarket and mgm resorts reporting a net loss of more than 500 million in the Third Quarter as revenues fell 66 due to the casino closures and limited traffic in las vegas and mccaw. It has now is focusing on investments in japan and sports betting. They are considering closing some of its Las Vegas Casinos in the middle of the week and coming up, four days until the election, what investors need to know about the tuesday big day and the potential market impact. And as a reminder, you can always watch or listen to us live on the cnbc app, as you take a look at the rainy times square in manhattan. 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. What a big focus there for a lot of folks out here in nerk. A shot of the kach buildicapitog in washington, d. C maybe some members of that building will change in the course of the next coming week lets take a look right now at what is happening with the election and how it could shape your money a number of strategies on wall street all have predictions about what they think the odds are of certain outcomes. But here is an idea of some of the kinds of thoughts that are going through their minds. First of all, the team at Raymond James has handicapped it as being a blue wave at 55 . That means again a sweep joe biden wins and then the Democrats Control Congress 55 chance, their highest likely scenario strategists have looked at sectors that could benefit or drawback because of that wave. Com services maybe not a good beneficiary. Financials could come better, industrials perhaps and technology and materials and utilities. Now the another scenario, those same teams at Raymond James say there is another scenario for the stat cuss company. Again, President Trump stays in and there is a Republican Senate they say that is a 30 chance. In that scenario, most of the analysts look towards communications services, energy and industrials as winners there, and then technology, materials as losers. And then one other thing to watch as well, what happens if there is a divided congress with a biden win . A real mixed bag they say that 10 chance of that, in a scenario like that, the com Services Industry does okay, energy and discretionary consumers do worse and then technology, health care and utilities fair better. The as story here is that there no real definitive story about who does better or worse, but markets seem to go up in the longer term. Turning back now to the stock futures picture with the dow on pace for its worst week and worst month since march, major averages are all on track for back to back monthly losses. Dominating the conversation on wall street earlier this month, we had earnings, the election, rising virus case counts in the u. S. And in europe as well and next week may be just as busy as we are just days away from that big 2020 president ial election the second busiest week of earnings the on tap with 118 s p 500 Companies Set to report their results. A very big week of catalysts joining me now is strategist lindsey bell ive just reeled off a massive laundry list of catalysts. How exactly are you positioning and how exactly should you be paying attention to what happens next week . The election is only a few you days away at this point and i think that it is an event that the market is looking forward to getting past, that is for certain. Positioning going into the election, i think based on what you just said explains it all. Weve been talking about having a bar bell approach going into the election and even into the end of the year. I think that you need to have exposure to some of the sectors that have been winning and have been doing very well like the Technology Sector and growth oriented sectors but also it is time to consider starting to put some money into the more cyclical sectors that will benefit more from a reopening story and continuation of a recovery into 2021. So that is kind of where our head is at as we go into the new year i think that investors right now are having a little bit of a struggle and they are starting to have a bit of tunnel vision as we head into the election and all can think about is the uncertainity surrounding the election, what the results will be and what will happen in the weeks and days that follow the election and we urge people to think longer term because from our perspective, investors should take a longer term perspectivea better in 2021 and the market is likely to resume its upward trend once we get past this volatile event that is coming next week. You are the chief Investment Strategy at a Financial Firm that caters to a lot of mainstream and main street type customers. What is the biggest concern or biggest questions that you get from your client base about what exactly the market is doing right now and how it will do in the coming months . I think that the concern right now is what is going to happen in the months ahead and we have seen our retail customers take a bit of a pause here in the past couple weeks as we head into the election because i think that they are at this point where they have been able to take part in the bull market that has culminated since the end of march so they have taken advantage of that runoff in the market and they are feeling good about it but the question is, what will happen now it is beginning to feel a little nervous because you are starting to see the rubber hit the road with some of these companies we saw the september drawback in the tech shares. Today Tech Companies pull back on Earnings Results, a shift in Earnings Results and so i think that our customers are really just taking a pause, digest beie guest beidh fr that th information that they are getting. There are still a lot of question marks on the tabled and it will be a matter of weeks to months before we have clarity on some of these issues so we just did a look at some of the kind of outperformers and underperformers that could come to fruition. Does the election play into how you allocate to sectors right now or are you looking longer term what is your playbook for where investors should be putting money at in stage with the election and Everything Else in play im definitely look being longer term. Like i said, the election is in a few days even if there is a possibility of the election being contested and there is a bit of uncertainty and continued volatility through the month of november, were still optimistic when we think about the end of this year and we are going into 2021 were entering the seasonally strong period of the year. Investors tend to get more optimistic as we get into the month of test and start of the new year and when i laook at 2021, earninearnin earnings expectations is double digit Earnings Growth in 2021, well get earnings back to 2019 levels so completely making up for the decline that the pandemic caused this year. And so when i think about the outyear, i want to think about that reopening story because i do think that well get there and the vaccine is in the works. So these are all positives all right thndsey bheell, thank you very muat does it for us. Squawk box is coming up next businesses today are looking to tomorrow. Adapting. Innovating. Setting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere and manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Good morning futures under pressure, but off their lows on this final trading day of october the dow suffering its worst month since march. And todays big tech stories, tech earnings. Virus concerns and of course next weeks election it is friday, october 30th squawk box begins right now. Welcome to squawk box. Im becky quick along with joe kernen and andrew ross sorkin. U. S. Equity futures are under pressure once again. Dow futures right now indicated down by about 228 points, more than the 140 they gained yesterday. S p futures are indicated down by about 30 points nasdaq indicated off by about 160 points and the nasdaq was the big winner yesterday, it was up about 180 points, a gain of 1. 6 but on this last trading day of october, month to date the dow is down by about 4 , s p down by about 1. 5 and the nasdaq is up