Case as soon as today. Preparing for a flood of sanctions. The Trump Administration preparing a new wave of actions against iran in the leadup to a joe biden presidency helima croft is here to weigh in. Theres no stock like your own stock. What Warren Buffett and the folks at Berkshire Hathaway have been at in the past three weeks. This is Worldwide Exchange right here on cnbc im back, back in the new york well, good morning, good afternoon and good evening im Brian Sullivan im happy to be back in a new york mood. And good to be with you after our epic twoweek election road trip theres so much to get to on this monday morning. You have a new week, a new president elect and the possibility of new policies that could impact the markets and your money certainly so much going on lets jump right into it on this monday futures are surging. Dow futures up 375 the election, after all that, pretty much turning out exactly as most on wall street had predicted and planned for. And positioned for with a fairly broad biden win. And a senate that will likely ensure a split congress all pending a jan 5th runoff in georgia. Its been really incredible two weeks for the markets and tale of two markets two weeks ago was one of the worst preelection weeks in market history the s p 500 fell nearly 6 but then boom. Stocks found a bid last week was one of the best, if not the best performing post election weeks in market history even as the votes got counted the s p 500 rose over 7 but, as good as stocks were last week, nothing can compare to bitcoin. If youre not paying attention, you should be. Bitcoin up 15 last week it has now gained 45 in the month in the last 30 days it is by far the best performing asset class out there. Bitcoin surging as of wednesday, thursday morning, whatever you want to call it, look at that to 15,447 and up again today. What is not just our futures markets around the world are also moving higher japanese market up more than 2 , china rising as well overnight and europe all the averages up right now in their early trade france, germany, the uk. You can see a lot of green across the screen, all up more than 1 . Some like germany up nearly 2 well, back home, we kick off this monday morning with more breaking news out of president elects Transition Team officially announcing key members of its covid19 Advisory Board. It will be tasked with dealing with the pandemic and setting up for the eventual rollout of a vaccine. Leading the board, former fda commissioner, dr. David kesler and dr. Marcel la nunezsmith of yale and vivek preparing the president elect prepares a series of executive orders on many key policies designed to reverse some of the signature policies of the trump white house, such as reentering the Paris Climate Accord and rejoining the World Health Organization nbcs tracie potts is in washington and she joining us now, tracie. Good monday morning. Reporter brian, good monday morning to you and everyone else as you just outlined this transition is getting to work on day one, focussing heavily on coronavirus. You just named the new members of that team the president elect joe biden wants to have an action plan in place on inauguration day. Well hear him talk about that today as President Trump continues to try to question and challenge the Election Results the biden transition starts with a Coronavirus Briefing this morning. Hell be making announcements to the American People about how hes going to make good on these campaign promises. Reporter president elect biden naming new members of his Coronavirus Task force, making remarks on the virus and the economy. Working on a plan to begin january 20th that plan will be revealed on bedrock science. It will be constructed out of compassion, empathy and concern. Reporter meantime, the Trump Campaign is promising a new round of lawsuits today. Challenging Election Results in nevada, they claim dead people voted and machines could not verify signatures. We pointed out that the voter rolls in clark county had a lot of improper voters and we pointed out that the signature verification process and these things were simply not going to protect the system. Reporter President Trump tweeting since when does the lamestream media call who our next president will be certified results could take weeks. Candidates have the ability to request a recount after the election we are preparing for that. Reporter some republicans are warning the president to tone down his language. When you say that the election was corrupt or stolen or rigged, thats unfortunately rhetoric that gets picked up by authoritarians around the world. Reporter republicans pressing the president to back up his allegations. Show us because if you cant show us, we cant do this. We cant back you blindly without evidence reporter so far, theres not much and the campaign is asking supporters to help pay for these lawsuits they rolled out the Election Defense Task force to raise money for that brian, weve also learned that while there is nothing officially on the president s schedule, they are planning, they being the campaign, are planning to roll out rallies in battleground states where recounts are likely or are already expected to happen all right, tracie potts in washington tracie, good to see you. Good monday morning. Thank you very much. All right, lets get back to wall street. Stocks looking to add to last weeks impressive gains. The major averages coming off their best weeks since early april. But where do we go from here joining us now is invesco Global Market strategist brian levette and liam dalton. Liam, you and your team have put together a big year. Youre up big on the year. Is anything about what happened last week, the election, what trump is saying, the senate that still may hang in the balance, changing your strategies and where you allocate capital it really hasnt. Weve been positioned mainly in the growth sector for reasons that extend back a little bit further in ime we think the most important thing in markets at all times is levels of liquidity and factors that drive equity have been positive in that regard. What we have had over the near term is a big uncertainty that the market has been relieved of. We have now that same backdrop, so money is real all systems go as far as reengaging over the shortterm and driving stock prices up over as i say the near term the quality issue when we go back to early september, we had high valuations and we did experience a correction in stocks that were going through a period of relief now as stocks rallied back up toward their highs and it looks like thats going to be set to continue here over a short period of time if theres anything to watch out for, however, over say as we progress over the next few weeks it will be are the valuations actually too excessive at this point . And is that going to create a stall point . But right now the backdrop looks very positive. Yeah. You know, brian, you sort of look at where we might be six months from now and were going to have a new government, a new president and obviously new policies what we will likely not have is a new fed chairman, jay powell, nobody has suggested he will be out under a new administration is that perhaps the most important outcome for the equity markets . Yeah. I always say that the two things that investors should always ask themselves is what is the direction of the economy over the next couple years and what is fed policy going to look like its pretty clear the direction of the economy over the next few years will be one that sim provering from a very depressed state or what has been a freszed state and we know the Federal Reserve is looking to keep Interest Rates low in 13 of 17 fed officials said through at least 2023 so financial conditions have eased meaningfully and its a good backdrop. Ive been saying for months the timing of the next president whether second term of donald trump or whether it was joe bidens first term, the timing was going to be impeccable for a variety of reasons youre in an improving economy, low Interest Rates, stocks are cheap to bonds the comps are easy, and so president s that become to take off in these weak economic environments tend to see strong results, rang, obama and this time is no different yeah. And brian, ill follow up with you again because i know the case count has gone up a lot of people in the hospital, a lot of families suffering, a lot of people have died around the world, but fair to say that we are probably closer to getting out of the pandemic than going into it. A lot of hope around a vaccine certainly does that contribute to what sounds like some of your optimism for 2021 . It does we dont want to sugar coat whats going on right now. We know the markets trade on whether things are Getting Better or worse. With regards to the coronavirus, and with regards to human mobility, things are getting a bit worse right now. So i dont want to sound poly anna and say that things are just going to continue to get better from here but what investors need to think about from a market perspective, i come back to my earlier questions, what is the economy look like over the next couple years. And so this is a market that knew there was a strong risk of another wave of covid outbreak we also know that were able to compress cases if we exhibit the right behaviors. And we have expectations that the medical community, Scientific Community will get ahead of this with therapeutics. The markets are focussing over beyond this period into what should be an improving economic environment over the next years. You know, and liam, as we have said on this program, the outcome for congress, the senate may be more important from a markets perspective than the white house. The senate still up in the air you have two runoffs in january most likely in georgia for the senate are you watching that with the outcome there impact how you allocate capital and where you put your clients money . Thats a biggy. Obviously the markets are kind of beginning to tell you they are betting that the probability is that the senate stays red otherwise we would see a different market behavior. Its very clear however that the market expects and is doing what it typically does, it views probabilities and saying if were going to have a red senate, we look like we have the probability of further stimulus and taxation issue, which would be probably 50 of the bear case is again removed so, taxation and valuations are the two things that i think would chase the market at this point. And if we had that factor come into play, that would disturb, in my view, whats going on in the market here over the nearterm. As i think brian mentioned, i think thats basically looking like its not really bothering the market at this point not at all. In fact, dow futures are now up 400 points right now, liam but the valuation listen, all of this is happening in the backdrop of a market which historically is not i wont say highly valued. Its not my job to say that but certainly higher end of historical valuations. Is this a market that can with stand more uncertainty its looking like sit this morning, but what do you think so the large cap growth sector is just expensive its out at about 130 times earnings, which is over five times the markets average its the sector that has driven this bull market obviously because the heaviest market cap weights exist in that space, the fangs, what have you but what i think is going to happen is youre going to populate some other areas of the market that have been lagging with some capital. Well see it in the cyclicals and even potentially in some of the things that havent participated and if we do get vaccine, well even see some of the deep laggards begin to play some catchup. Having said that, we live and die with this large cap growth sector, in my view, in this bull market and if we do see things begin to change that would affect that group, they are expensive and things could change very quickly. As it stands right now, it looks like were supportive of pretty much the market across the board other than the virus affected areas. But were watching very keenly some of the things related to, for instance, the behavior of the Interest Rate related markets and credit spreads because if those change and they indicate something different, well grow more defensive. Yeah. Certainly watching private spreads, yield curves. Guys, we appreciate you kicking off our coverage on this big monday morning dow futures up 400, guys thanks very much have a great day. When we come back on Worldwide Exchange, how experts say a biden presidency could reset relations. One of americas largest trading partners well take you live to the china reaction next. Plus, why bidens chances of getting a sweeping tax plan turned into law look less likely robert frank is here with that and going out swinging the Trump Administration reported will preparing a series of sweep iing things against ir. Were back right after this. 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. Its time you make the rules. For the road ahead. So join the 2 Million People who have switched to xfinity mobile. You can choose from the latest phones or bring your own device and choose the amount of data thats right for you to save even more. And youll get 5g at no extra cost. All on the most reliable network. So choose a data option thats right for you. Get 5g included and save up to 400 dollars a year on the network rated 1 in customer satisfaction. Its your wireless. Your rules. Only with xfinity mobile. Learned a second languageument applied to college applied for a loan started a business started a blog shared a picture shared a moment turn your wish list into a checklist, with internet essentials from comcast. When youre connected, youre ready for anything. Welcome back and good monday morning. Dow futures are up 383 well, the Chinese State media striking an optimistic tone editorials there, reacting to a joe biden presidency key take away, the next four years could serve to restore relations between the two nations. Lets get right now on the ground, eunice yoon is live on the ground with reaction good morning here. Good evening there youre at a noodles shop when joe biden visited when he was Vice President. I am. What is the Chinese State media saying about the outcome so far of this election . Reporter well, so far the state media is expressing caution optimism that there could be a reset in the relationship between the u. S. And china. And in fact, that sentiment is here at this restaurant. As you mentioned, president elect biden did visit this place when he was Vice President in 2011. In fact, the Restaurant Owner has been describing him as an old friend of china. And he ended up shocking the restaurant people here at that time when he insisted on sitting in the main hall with all the regular diners as opposed to being taken away to a private room the hope, of course, is that his long history with china, his familiarity, his engagement with china is going to help to move the relationship forward because, as you know, tensions are currently very high. He not only was here in 2011 but also he hosted a president xi jinping who was Vice President in 2012 in the United States and then again he met him in 2015 when president si had already become the leader of this country so that means at a time when the relationship is at a low, president elect biden would be coming in as a leader who is already quite familiar with the country and has already met with president xi multiple times. Now, it doesnt mean that hes going to end up, brian, being a softy on china in fact, the expectation is that hes going to be tough but quite practical. And practical in the sense that he would be cooperating on certain issues like Climate Change and covid, but that he would be stuffer on other issues, such as subsidies and i. P. Well, eunice, youre doing as we know as our viewers know my favorite kind of reporting actually just going out there and talking youre not reading polls. Youre not looking at articles youre out there talking to the people by the way, enjoying some Delicious Food while youre at it im so jealous what are the people what are your friends saying . What are the people in the restaurant saying . What are people in beijing saying reporter well, people are hopeful, like i said, that there could be a change. But the people here at this restaurant said that one of the things that they when we were asking them about president elect biden, they said they dont really know a whole lot about his specific policies. So, thats made them a little bit nervous at the same time they think this could be a good thing. But, the restauranthad said that one of the dishes that he had eaten here is actually selling out has been selling out over the years this is the biden set that people online have been talking about. That means five bowls of black bean noodles, Cucumber Salad and then you always have to have a cocacola. Apparently thats what he had in 2011 and thats whats called the biden set. In fact, people are saying that maybe they should change the name here of the biden set to the president s package. Im sure he did not eat five bowls, right it was like thats just the general no, it was for the group. It was for the group. Because hes kind of a thin guy. I was just thinking, wow, thats a lot of carbs on the noodle side well let you eat. That looks so good, eunice, i got to say that looks so good eunice, do appreciate that thank you so much. Nice. The biden set and the president s package. Still on deck, back to d. C. Where this morning President Trump is vowing to begin pushing his legal case and the market is keeping a close eye on a senate runoff. Still a lot to do. Dow futures up 381 were back after this. Announcer todays big number, 1,822. Thats how many points the dow gained last week, logging its best week since april and the best election week since 1932. harold twelve hundred strings of lights. betsy quarter mile of tinsel. harold and real snow all the way from switzerland. betsy hmmhm. Gonna be tough to top. betsy well played. vo add some thrill to your wish list. At the season of audi sales event. Get exceptional offers now. Try natures bounty sleep 3 a unique tri layer supplement, that calms you helps you fall a sleep faster and stay a sleep longer. Great sleep comes naturally with sleep 3 only from natures bounty welcome back and good monday morning. Stock futures are surging up nearly 400 points right now. Nasdaq futures up more on a percentage basis there are some of your premarket winners. Interesting names. Next era energy, thats the leading provider of wind power in the United States of course, under a biden presidency, renewables, alternative energy, whatever you want to call it, seen as benefits next era. Look at carrier global, the heating and airconditioning company. That is a company that trump ran on and complained about moving jobs to mexico as part of his Campaign Carrier global is up 6. 5 this morning. Random but interesting, i guess. And were back right after this president elect joe biden getting down to work, laying out plans for key issues and setting up a covid task force. The market is looking for calm and looking ahead toward a vaccine. Stocks set to continue their big post election rally. Futures are surging. Dow futures up nearly 400. Even with Senate Control still in question, well dive into it all from policies that may be coming, perhaps a new tax plan, and will wall streets biggest firms are saying about the outcome, the markets and your money. It is monday, november 9th, and this is Worldwide Exchange. Well, good monday morning and welcome back its good be back with you im Brian Sullivan thank you for joining us on Worldwide Exchange. Futures are surging as you can see. The election pretty much turning out exactly as most on wall street had predicted and positioned for we had the momentum coming off of last weeks big gains its really been an incredible two weeks. Yes, i know, for the election but also for the markets as well weve been caught up in so much. You may not realize this, two weeks ago was one of the worst preelection weeks in market history. The s p 500 fell nearly 6 but then, stocks found a bid and last week was one of the best performing election weeks in market history with the s p 500 rising 7. 4 . One of the worst preelection weeks to the best election week since i think 1932 or Something Like that. Either way, markets doing a big reversal all right, this morning its big names like boeing, caterpillar, apple that look to lead the dow higher. Nasdaq, after more than 9 gain last week, you got semiconductor stocks, names like docu sign, et cetera, theyre in focus as well a lot of these sort of lockdown stocks a docu sign and zoom video getting more investor attention than they already have because cases are rising and perhaps the prospect of statewide or suggested National Lockdown could be more in focus all right. Well, back now to this mornings, this weeks, this years top story, president elect joe biden wasting no time getting down to work, charting his transition after dlaifring a message of unity and healing in his victory speech over the weekend. In the meantime, President Trump continues to vow a drawnout legal fight over the Election Results. We have full Team Coverage to kick us off right here at 5 30 a. M. Robert frank has implications for president elect biden and his tax policy aei, jimmy lets get now to the news and begin with exactly where we stand at 5 30 on a monday morning. Well, brian, joe biden has crossed the threshold to get the necessary electoral votes to be named president elect in arizona and georgia still too close to call but the vote counts are firming up his lead in those states North Carolina also too close to call but even so, president elect joe biden on saturday night gave a rousing address where he thanked the black voters who saved his candidacy. He pledged to be a president for those who did not vote for him and he also said he would get to work immediately on the work to combat the covid pandemic. Here is what he said our work begins with getting covid under control. On monday, i will name a group of leading scientists and experts as transition advisers to help take the Biden Harris Covid plan and convert it into an action blueprint that will start on january 20th, 2021. Reporter the biden Transition Team says Agency Review teams will begin assessing other work after that. Justice state and epa will be high on the list the Transition Team offers this statement on the subject of orders reversing President Trumps policy actions, saying while no decisions have been made about executive actions and no memo has been sent to the president elect, he has the same levers at his disposals to address the crises facing the American People. Meanwhile, President Trump is expected to go on a pardoning and firing spree during his final weeks in office. Already a couple agency heads have seen their fates ended, that being Nuclear Scientist lisa gordonhagerty and Energy Regulator neil chatterjee. Others expected to be fired or resign, chris wray, and gina haspel as well as the secretary of defense mark esper. Nbc news says esper prepared his letter of resignation. All right kayla, we values that breaking news about the biden Transition Team announcing its Advisory Board to shape its approach to the outbreak who do we know is on this board and really what kind of work can they do before he officially takes office well, brian, were going to have to get used to an earlier news cycle the names from that Coronavirus Task force were released at 4 59 a. M. Sharp great news for Worldwide Exchange viewers. But leading that task force will be two professors of epidemiology and medicine respectively as well as dr. Vivek murthy other familiar names to those who covered the obama administration, dr. Zeke emmanuel and one name likely to get the trump camp riled up, dr. Rick bright. The vaccine leading agency who was perhaps ceremoniously fired earlier this year after he spoke out against the administration so we will see how that news is received but certainly, brian, what they can do is to craft a strategy of exactly what levers within the government they would pull when they do take office. Although, they wont get the keys to actually take action inside the agency until january 20th well, we love the early news cycle. Everybody is getting up earlier, vivek murthy was fired by President Trump years ago. Maybe payback. Thank you very much. Now, lets turn to the tax side of the story, right you all care about and what a Biden White House and that still Undecided Senate makeup might mean for your money as well. Robert frank joining us now t r terrified of 62 tax rate in the past where do we stand on the tax side and what are people saying as theres still a lot we dont know yeah, brian im here to tell you thats probably not going to happen as it was laid out earlier. Now the markets of course not expecting big taxes here from the new biden administration, but the campaign telling me last night that he remains committed to getting something on the tax side, saying hes quote laid out plans to revamp tax code so rewards work of ordinary americans, not wealth. And he looks forward to working with congress to deliver that. And the big question here is, as you mentioned, the senate and if the gop retains control. Now, tax hikes are not likely in that scenario. But even if we get a 50 50 split tax experts telling me that bidens sweeping tax reform has little chance as it was laid out in the campaign, but some pieces of this could make it through in a smaller form so, you look at the doubling of the total Capital Gains rate to 43 , that is unlikely. The payroll tax, thats on those making more than 400,000 a year that would be tough, brian, because you cant change Social Security from a tax standpoint without the 60 votes in the senate now, what you could see is a slight increase in the Corporate Tax rate from 21 right now to maybe 25 . Not necessarily the 28 that biden had proposed in the campaign then you could get something on the top marginal rate side, maybe going back to 39. 6 from the current 37 . Biden has also proposed a series of middle class tax cuts and credits. Those could be very attractive right now during the pandemic. And if you package those with slight increases at the top end, maybe again in the top marginal rate and maybe a slight increase in the corporate rate could give the party some symbolic taxing wealth visibility and pay for some of the middle class tax cuts, brian. Lets dig in. The politicians main idea is to get himself elected. Despite the biden win, the appetite for this blue wave was not there. In fact the republicans gained seats in the house and sort of the far left agenda seemed to be left out in the cold, if you will in other words, sort of super progressive or super high taxation ideals are unlikely to be welcomed by many members of congress thats not my opinion. Thats in all the Research Reports reading over the weekend. So even if the senate were to go to the runoff and both seats flip blue, it sounds like youre hearing what im reading which is that even if it were 50 50 senate with Vice President harris casting the tiebreaking vote, its unlikely well get major tax change through this congress yeah, brian i think thats exactly right if you look at the down ballot performance of this election now, we dont have the exit polling to say exactly how voters felt about taxes and whether that was a deciding issue or whether they just generally liked split government and they thought, look, trump is likely to lose, so lets at least have some ballots on the other side to offset any big policy changes but youre right, you know, in this economy, it was hard for voters to think about a big tax increase, even if it didnt affect them. Remember, the capa gains tax was only on those who make more than 1 million. Income side was those who make more than 400,000. It was a very small group. But people arent comfortable with tax increases because they felt at some point it was either going to hit them or their employers but i do think there is a part of the party that will want something, maybe they get something a little compromised on salt, thats something that schumer and others were pushing for. There will be something symbolic but like you said, because of what the voters the message that they sent unlikely to get this 3 trillion plan that was outlined in the campaign and whatever robert, well let you go, but whatever our viewers right now, politics are, in new jersey, new york and you hear about the possible repeal or reduction in that state and local cap deduction cap, thats reason to smile perhaps on a monday morning robert frank, thank you very much there is the news. Lets get analysis were joined now by stephanie miller, managing director at fiscal note markets and jimmy, Economic Policy analyst at the American Enterprise institute and a contributor. So listen, stephanie, weve got obviously its monday. Were still looking at an Uncertain Senate so were sort of basking in the glow or misery depending on what side youre on of the election the last couple of days. But how soon should our focus turn to that still up in the air fight over the senate . So, while i you know totally agree that whatever the Senate Election outcome is in georgia, so whether or not the two seats flip to democrats, giving them majority or they stay republican, maintaining the republican majority, that 50 50 margin if democrats win is going to be very, very tight so theyll have the harris tiebreaker, but as most viewers know, most policy doesnt take 51 votes in the senate, it takes 60 votes youre at quite a deficit. And to the point you all were making earlier, theres now a clear mandate by voters that is we do not support a blue wave. Nevertheless, the party that can control the senate floor has a lot of power they get to pick what bills come to the floor and the republicans would be much more likely not to let biden preferred policies even hit the floor so, if biden knows he can work with a senate that will bring policies to the floor, i think it certainly increases chances for Something Like infrastructure where there could be bipartisan support. It is jimmy, youre big on history like i am. I know we get all worked up in the moment were like, its unbelievable. Its actually not even going to be one of the top ten closest elections of all time for the presidency it will be 14th if things ended the way they are today hard to believe. But true the 14th after all that. It wasnt even that narrow we look at the house, right . We had gop gaining seats there the senate will end up 50 50 at worst. For the gop, it was a purple tide more than a blue wave, would you say . Right i think its sort of wave that is going to bring in a lot of gridlock but listen, i dont think it has to be all gridlock i think as we said earlier, were not going to get big tax increases. Republicans if they hold the senate after these elections, they are not going to vote for higher taxes what they might vote for is extending the trump tax cuts to give biden some wins on infrastructure or other kinds of investment plans i think that could happen. But, if Mitch Mcconnell has his way, we are not getting higher taxes, even as part of a deal, maybe slightly bumping up but jimmy, what if both lets say we go to the runoff, both seats go to the runoff in georgia and they both flip blue because its 2020. All assumptions are out. Getting markets which are wrong just like the polls by the way they should listen to us on the road lets say i think the betting markets did a good job but listen, we focussed on the senate the house just got narrower, too. And i dont think all those districts that they won in 2018, socalled whole foods districts are also going to be for a bunch of tax increase. Even if the democrats take the senate, you might get some tax increases but its not close to what some of us were talking about before the elections that blue wave had happened which it didnt yeah. Look at these graphics were showing, stephanie almost right down the middle of everything still a lot outstanding with the senate and people complaining act this or that is this almost sort of goldie locks outcome for the election from a markets perspective yeah. Absolutely and the other point to make about the house is that the candidates who lost on the democratic side were largely moderate democrats so the House Democratic majority will be smaller and it will have now as a personal of the total Democratic Caucus a larger portion of actually progressives and weve read in the days since the election sort of the fallout and the huge tension between progressives and moderate democrats in the house so not only can we expect there to be gridlock because of Republican Senate tensions and in the senate and in the house but intraparty democratic tensions and when looking forward two years down the road, i know were barely were not out of the 2020 elections yet, but republicans again have a bunch of seats that they could lose in 2022 in the Senate Similar to this year where the republicans had more to lose than the democrats the house is up every two years. And so theyre going to quickly be in a very intense campaign. Yeah. Guys, great analysis there on a lighter note i thought what are the nightly comedy shows going to do for the next four years . Start going back to interviewing musicians about their latest album, because pretty much it was all trump. Donald trump made a lot of people in the media multimillionaires. You have to admit that. Amen. Thank you very much take care. Coming up, what wall street is saying about president elect bidens victory, key comments from some of the top names coming out of the election youre only going to see that here on Worldwide Exchange. rw futures up 400 wee back with helima croft right after this welcome back and good monday morning. Dow futures up 400 points right now. Were pinging people, reading reports over the weekend, quarantining in the basement, depending on where youre coming from its time now to bring you more color and context about what the biden win means for the markets and your money and wall street and Global Market players adding some important context to that over the weekend. While many note that the outcome of the january Georgia Senate race is still is an uncertainty, here are just some, some of the key comments that have come out. Raymond james says, quote, shortterm positive Market Sentiment likely prevails as expectations of a divided government and lame duck fiscal deal rise on recent comments from Mitch Mcconnell they also note, by the way, healthcare is likely to outperform also, jim paulson reached out to him and he agreed telling us, quote, with or without more stimulus several current consumer and business behaviors exude confidence, suggesting current momentum in the economy poised to persist in 2021. Probably keeping earnings robust our thanks to jim there. Citi group adding this, quote, we expect the focus to quickly move to the trajectory of a vaccine. And potential for nearterm fiscal stimulus. They also see, by the way, a stimulus plan passing in some form Goldman Sachs agreeing on the vaccine part earlier the better for investors they say quote, the focus is likely to begin shifting back toward the vaccine and broader growth outlook. Our updated estimates suggest that if the market receives news on an early vaccine, there would still be meaningful upside from current market levels. Thats Goldman Sachs finally, if youre worried about taxes, Morgan Stanley says you may not have to be, at least for a while. Writing, quote, if republicans keep the senate there is no path to tax increases before 2022, and if Democrats Gain the senate, only a path toward modest tax increases that may be of little consequence to investors. So not all but a nice rundown some of the key thoughts, comments and advice on what you might want to do and consider in the months ahead. All right, on deck, oil prices on the rise this morning amid new reports of new sanctions on iran and a surprise move at the top in russia. Helima croft standing by to break down all the news, oil up 2. 5 dow futures up 400 were back after this. R retirema gives us confidence. They help us with achievable steps along the way. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Can get very complicated but in all flash solution from Dell Technologies powers store can unify your storage. Orchestrated by the experts at cdw, it delivers optimized performance and efficiency while providing simplicity and flexibility. Dont settle for silver 1 for diabetic dry skin 1 for psoriasis symptom relief and 1 for eczema symptom relief gold bond champion your skin welcome back and good morning. There was a lot of news that oil, energy and geo politics this morning, still President Trump reported will ready to slap new sanctions on iran and in a surprise move just an hour ago, russia swapping out its longterm oil minister joining us now is our head of global commodity strategy helima croft and also cnbc contributor and also one of our favorite people helima, you and i were going back and forth about iran and pompeo going off saying basically just going after iran. Im going to leave it there. What do you think could happen in the next month or two from the still President Trump . Are they going to try to put more sanctions on iran, for example, on their Ballistic Missile activity, for Human Rights Violations for what they do in the neighborhoods in terms of funding proxy groups. Looks like thats the path theyre going down secretary pompeo will speak to netanyahu, uae, saudi arabia trying to make the sanctions stick and limit incoming president bidens ability to roll them back theres renewed tension between the u. S. And iran. I think theres a path to having million plus iranian barrels back on the market in the second half of the year. Well, thats it do they normalize . A biden presidency normalize relationships with iran, whatever trump does the next two months put more iranian oil on the market which is something thats struggling u. S. Oil producers do not want to see because that could mean sub 30 oil . I dont think its full normalization. I think theyre very focussed on the Nuclear Aspect of the deal they want iran back in they want the u. S. Back in they do not want iran close to being able to assemble a crude Nuclear Device its not a full reset in relations, but theyre focussed to getting back in the nuclear deal and moving sanctions part of that agreement. Again, putting the oil back on the market i think would be a priority putin promoting his Buddy Alexander novak to deputy Prime Minister what do you make of the swap out in russia . A shock move well, brian, it looks like we still be spending time with soon deputy Prime Minister novak because he will still be handling the opec file its important to russia he is seen as handling this relationship exceptionally well. Reports are now that hes still going to manage this all important relationship for his country. Helima, i cant wait to get back to eating stale cookies with you and the rest of the team at 10 00 p. M. At night. And sausages, yes. Its going to happen. Thank you very much. Appreciate it. Best to you and yours. Thank you. Wow, a lot of news this morning, guys. Thanks for joining us here well be back doing it all tomorrow morning big week, big day, im happy to be back. Squawk box is next see you tomorrow fourth deployments there were tsunamis in the world. And once they happened, we were in a major hurry to get to those regions to provide aid and support. It was very humbling to be able to help out all those people. Its my dream now to go into clean energy and whatever the next new fuel source is, thats where i want to be. I want to be on the front lines of implementation. Good morning time to heal in america. President elect joe biden making his first comments over the weekend since winning the presidency. And setting up a covid task force, reaction from washington is coming up the post election day rally is continuing. Stocks looking to add to last weeks big gains well show you whats moving today. And covid19 cases surging in the u. S dr. Scott gottlieb will weigh in on the spread and jump in hospitalizations its monday, november 9th, 2020 and squawk box begins right now. Good morning, everybody. Welcome to squawk box here on cnbc im becky quick along with joe kernen and Andrew Ross Sorkin been watching the u. S. Equity futures and things are up sharply once again this is continuation for what we saw for at least four sessions last week. You see right now the dow futures indicated up by over 400 points s p futures up by 51 the nasdaq up by 220 and last week was