Good morning, everybody. Welcome to squawk box on cnbc. Im becky quick with joe kernen and Andrew Ross Sorkin well start with the markets after the dow fell for the first time in four sessions. Airlines, cruz and retailers all fell during yesterday sessions those have been the volatile stocks if you look at u. S. Equity futures this morning, youll see green arrows the dow indicated up by 28 points nasdaq up by 24 and s p up 4. 5 yesterday, the dow was down 170. During the course of the morning, we were watching the futures and up as much as 250 in the morning. Weve been keeping an eye what is happening with the treadsry markets. Right now, it looks like that 10year yield is just at 0. 71 andrew good morning. Thank you. United states pulling out of talks with europe to tax tech giants Steven Mnuchin saying international talks have hit an impasse and there wasnt even room for an interim deal it threatened retaliation if they move ahead with plans of their home a number of European Compan
Effective, it brought down the market up the day about 39 points s p 500 had given a run for the money. We are below that 2,800 level. S p up about 4. 5 keeping in mind the treasury yields right now, the 10year seems to be yielding 0. 606 andrew, ill send it over to you. Well give you an update now on the pandemic numbers. Global cases have reached 2. 7 million with 869,000 in the United States. The death toll in the u. S. Is nearing 50,000 new york cases have hit 263,000 and new jersey over 100,000. Georgia plans to reopen. They have the most confirmed cases with over 21,000 well talk about that throughout the morning. Yesterday, new york Governor Cuomo shared early results from the study of 3,000 people that said one in five new york City Residents tested positive. That means as many as 2. 7 million in new york already encountered the virus and survived and never knew it questioning the available of the test but said new yorks test was reliable enough to determine immunity thats base
Warren and the 1 . Taking on the billionaires with a new add. And icahn out with a big target. Good morning, good afternoon good evening welcome from wherever in the world you may be watching. Im Brian Sullivan 23 degrees in the new york area. A lot to get to this morning we begin with breaking news. The latest growth figures hitting the tape moments ago how did that work out, lets go to willem. Weve got the eurozone q 3 employment numbers thats the flash estimate. The all important q 3 gdp number 1. 2 year on year. Relatively low level growth across those countries that is for the period july and september. Weve talked about the sluggish growth requiring governments to step up to the plate talking about whether they can take a coordinated approach. Some saying there are huge disagreements about how that can be achieved. Weve seen a need to get that growth higher than the 1. 2 annualized growth. We talked about slowing down to 2 or lower thank you. You can see the european markets. The
Maria big show this morning, fox business dagen mcdowell, former nfl jack brewer, former ceo of home depot, former ceo of chrysler, bob nardlli in the house. The race in kentucky, dagen, still too close to call. Dagen right, people are going to if matt bevin is declared the loser, current republican governor there against his attorney general, democratic attorney general andy bashear, if hes declared the loser, after, its a referendum on President Trump, no, matt bevin was not liked in the state, again, who is a longtime democratic operative texted me in the middle of the night, just remind people that politics is local, this is a very local issue and we can move on and talk about virginia because, again, both the house and delegates in the state of virginia are now both blue but if you dig in the numbers it wasnt quite the loss for the republicans there that people might expect. Maria all of the key elections held across the country, thats going to make people start talk about what it
S p is now down 2. 25 the nasdaq is off by 40 points that happened after news that we heard from beijing that well tell you about in a moment Interest Rates are a huge part of the market story. Yesterday we saw the inversion of the twoyear and the tenyear yield. So shortterm bonds are paying more than longterm bonds. Historically this is considered a recession warning sign check this out the 30year bond this morning is now yielding below 2 . This is the first time in history weve seen the 30year below 2 1. 99 . Tenyear is yielding 1. 557 . The twoyear is yielding 1. 54 lets look at what happened in markets overnight in asia. Things got a slower start there. The nikkei was down out of the gate it ended down by 1. 2 . In china, stocks are stronger. Shanghai is up by a quarter percent. The hang seng up by three quarters of a percent. In europe, there is active trading taking place, you are seeing some red arrows across the board. The biggest decliner of the three major averages would be t