Demand and saving live music helping independent venues and theaters across the country survive. It is tuesday, september 1, 2020 you are watching Worldwide Exchange here on cnbc good morning im Frank Holland in for Brian Sullivan the markets kick off a brandnew trading month. Stock futures slightly in the green here the dow jones looking like it will pop four points nasdaq on pace coming off a winning streak. Seven out of the eight days. The dow and s p wrapped up the best august. Similar for the s p, rising 7 percent e for the fifth straight move gains the story continues to be all about tech nasdaq surging 9. 5 in august for the best monthly performance since 2000 taking a look at the bond market and the yield trading around. 723 and the 30 year at 1. 5 we continue to follow the markets, lets go worldwide now. To julianna tatelbaum. Lets get a look at the Global Markets with you how are you . Im doing great we had a strong start to trade here in europe benchmark opening higher we have now come off the highs of the day it is a more mixed picture we have the german index trading. In italy, we have the Market Holding up as well trading in the negative territory. The uk up about 1. 2 we have a little catch up trade taking place in the uk the majority of the markets did trade lower. We have the pmis, manufacturing and more trading in europe in spain and france contracting. Germany siege mixed numbers as well big divergence here. Technology leading higher up about 1. 3 down side travel and leisure down banks take ago a hit about 1. 6 . Mixed picture sector and regionally in europe lastly, i want to give you a look at currencies we have seeing a strong bid for sterling and euro on the back of weakness for the u. S. Dollar back to you. Lets get a look at some other top stories this morning Contessa Brewer has a look at those. Good morning the Trump Administration is facing tough accusations of undermining efforts to fight covid19 releasing documents that show Top White House officials publicly down played the threat of the virus even as the White House Task force on the virus privately warned state officials they face dire outbreaks over the summer published eight weeks of internal white house reports prepared by the task force and sent privately to governors. In a statement, the chair accused the president and enablers of keeping these alarming reports private rather than being straight with americans. Astrazeneca begins the final staged trial of the covid19 vaccine in the u. S. And plans to study 30,000 adults. The company says the final phases of testing in the United Kingdom could reveal preliminary results as early as next month and a new lawsuit for mcdonalds from black former franchise owners accused of denying them the same opportunities of white counterparts and claims mcdonalds directed them to economically depressed and dangerous areas where low sales, high rent and operating costs guaranteed them a failure. Over 200 stores averaging between 4 million and 5 million in damages per store the dow and s p 500 posting the best gains but historically, september is the worst month of the year the only other month to average a decline over the same period is august. Uncertainty over the election could weigh on the markets with potential for even more volatility good morning, dory good morning, how are you thank you for being with us we have two big uncertainties right now. The election and when this uncertainty will end what sectors do you think are most impacted . All of them, really except for tech. Tech goes up no matter what. That is sort of dangerous. You have five stocks pulling the market there is not a lot of breath or support. The market is dangerous right now. Its a good time to hang out and value stocks ill be very, very careful about being overextended in stocks given all the uncertainty and election coming along. I dont expect this to play out to any sort of normalcy until after the election i see here you believe bank stocks leave down turns and up turns. Especially in recent months, tell us where the economy is heading in the second half of the year even if you dont want to invest in bank stocks, you should watch them. They lead to down turns and tell us what is going on. Surprisingly, the banks are doing very, very well. Leading to anticipate loan problems and propping up loan losses theyve done really well with ppp. The Community Banks are doing excellent. I expect them to weather this and do pretty good you can get bank stocks at lows. Youll have all kinds of chances to buy good quality bank stocks 3 to 6 months at a minimum at the same time, it is not a bad time to hang out you said well have a credit wave coming in covid19 shock and uncertainty, how does that impact the credit market the election will be just an anticipation of policies the market doesnt like change more than anything im not sure the Biden Administration is priced in to the market that will be an adjustment there until the market gets used to it that is more bullish on the Republican Administration for policies at the same time, weve got a big debt overhang out there in the market the multiples are really high. The Investment Grade multiples are 3. 5 ebita. Higher than in the 2000 recession and in the 2009 recession where they hit three at a maximum there is a whole lot more debt now in the below Investment Grade and those are even worse back to the bank stocks, you seem to think they are leading indicators of the down turns and up turns but we are facing a lot of unemployment. Are they still a reliable indicator of what is to come considering the other shocks im not willing to throw out 100 years of data on Bank Stocks Banks have been around for thousands of years banks are underwriting credit better than they were in 2000, 2009 you may have had 90 loan to value in 2009 and now you are having 40, 50 or 60 depending on the bank you have to look at the bank and credit they dont publish the data. They do homework on the credit and underwriting they have a whole lot more capitol and diversity. What types of real estate they are close to well continue to watch those bank stocks. Thanks for joining us. When we come back, a look at stocks to watch including zoom showing no signs of slowing down and well go live to china for the latest on the bid to buy tiktoks United States operations Airlines Cutting unpopular fees thats still ahead when we return i keep working my way back to you, babe with a burning love inside yeah im working my way back to you, babe and the happiness that died i let it get away servicenow. The smarter way to workflow. If i could, baby id how can i, when you wont take it from me you can go your own way go your own way your wireless. Your rules. Only with xfinity mobile. Welcome back a live look at washington, d. C this is the capitol where lawmakers have a lot to consider as we try to keep our economy on track. A look at some stocks on the move today zoom reporting Second Quarter results. Revenue quadrupled raising outlook by 30 shares are up more than 27 in the premarket and nearly 500 this year. Dont miss the companys cfo on squawk box. Kodak discloses d. E. Shaw takes 5. 2 stake the loan is under scrutiny and on hold. Tesla stocks shot up following the five for one stock politic boosting above 461 billion passing visa to become the worlds seventh largest company. We could be learning which company bytedance is exclusively negotiating with we go now live to china. Good morning. How it stands, youve got the team of microsoft and walmart versus oracle in the other those companies are the front runners. There is a large dark cloud over this entire deal in the form of china and moves it made last late week and changed moves around export restrictions adding technology that relates to technology on the list. That means any technology that needs to be exported will require a license from beijing in order to happen there is no guarantee beijing will grant this license to the extent china will step in to play on this deal. That is the uncertainty around what is a very complex situation. What i mention, the two front runners. Those teams and a lot of eyebrows jumped in on the bid that it doesnt have a past opportunity. On the other hand, weve seen microsoft dipping their toes back in to the consumer space. Walmart also suggesting any deal could boost. As it stands, it is a twohorse races with those horses quickly approaching the finish line. Back to you. So question, what kind of affect could restrictions ultimately have on this deal some commentary we have suggesting any deal involving bytedance would inevitably fall and require license from the Chinese Government it is hard to get a read out if they did sink the deal, remember there is a september 20 deadline it needs to be closed by if not, tiktok will be banned in the u. S. And bring its valuation lower and hurt bytedance, something i doubt the Chinese Government wants despite the continued pressure, it does have tool to push back the export list, which, mind you, it hasnt been amended since 2008 that is a tool that can be used similar and the u. S. Is around the technology pushing back against some of the pressure that the urs is piling on at the moment in terms of technology a lot of moving parts there thank you for the latest still on deck, walmart tries to take on amazon in Delivery Business and a break down of how walmart plus stands against prime. Announcer todays big number, 28,904. 96 thats how much one share of apple would be worth if the Company Never split its stock. If y houad one share before the split, youd have 224 today. Welcome back, 5 20 in new york city. Not far from where normal times would report brian will be on squawk box this morning and all week, actually lets get a check of other top headlines with phillip mena. Great summer sweater good morning. Thank you. The race for 2020 heating up joe biden accusing President Trump of stoking violence from handling of the pandemic he condemned the violence in portland and wisconsin the president is heading to kenosha today despite the mayor urging him to stay away. In bell a ruse, hundreds of thousands have protested what they call a rigged election. Several pole workers described several instances of fraud one signed a document with falsified results. Back here at home, nfl taking over investigation of accusations of Sexual Harassment and misconduct within the Washington Football Team publishing a report of allegations from 15 former fee maim employees the commissioner spoke to the teams owner about that move those are some of todays top headlines. Frank, back to you a lot of changes for that Washington Football Team hope to see that season kick off this summer. Still ahead, President Trump sent ahead to kenosha following the Police Shooting there as the wisconsin governor urges him to hold off new hurdles for jcpenney and potential buyers they look to exit nkbaruptcy much, much more when we return stay with us at leaf blowers. You should be mad your neighbor always wants to hang out. And you should be mad your smart fridge is unnecessarily complicated. Make ice. Making ice. But youre not mad because you have e trade which isnt complicated. Their tools make trading quicker and simpler so you can take on the markets with confidence. Dont get mad get e trade and start Trading Commission free today. Dont get mad get e trade and start trading if i could, baby id how can i, when you wont take it from me you can go your own way go your own way your wireless. Your rules. Only with xfinity mobile. September off to a strong start. Pointing to a higher open. Walmart unveils membership and a shortage of aluminum could mean big for investors it is tuesday, september 1, 2020 you are wauchling Worldwide Exchange. Welcome back here is a look at how your money and investments are looking as we are half way through this 5k hour stock futures in the green it looks like stocks are posed to pop and will also open the trading day higher after the dow and s p wrapped the best august in more than 30 the dow up and s p rising for the fifth straight months. The story continues to be all about tech surging 9. 5 in argue for the best performance since 2000. In asia, stocks were mixed in august, it beat expectations. Stocks in europe are kicking off september on a positive note on early trade there. Turning now to politics and the white house. President trump scheduled to travel to kenosha, wisconsin today. Eamon javers now with the controversy around that visit and what we can expect good morning. The president expected to leave the white house about 10 30 this morning on his way to wisconsin. The president brushing off suggestions by the democratic governor there in wisconsin and the democratic mayor in kenosha. Theyve requested that he not travel there this week given that they argue his presence could intensify the tensions there amid this change in the president ial campaign as both candidates seek to point blame at the other for whats emerged as a trend of Political Violence in the country the president yesterday saying it is joe bidens fault. For months, joe biden has given moral aid and comfort to the vandales repeating the lie that these are peaceful protests these are not peaceful, thats anarchy. Look at at looters and rioters thats not a peaceful protest. Joe biden harshly criticizing the president saying it is the president s job to lead the country now and criticizing him for failure to call out the violence among his own supporters this is what biden said. He may believe lobbing the words law and order makes him strong but his failure to call on his own supporters to stop acting like an armed mallitia in this country shows how weak he is does anyone believe there will be less violence in america if donald trump is reelected . We expect the president to tour some of the damage in kenosha and to make remarks at a local school there hell be back in washington this evening. We saw the president go to louisiana. He went to a county that actually voted for him is there any political gain for him going to wisconsin when leaders have asked him not to come sure, wisconsin is a state he would like to win in november. What hes hoping to do here is highlight the idea that there has been violence in the streets. This is not, as you heard him say, this is not just peaceful protest. The president is betting that a lot of suburban voters will see this and be afraid to see this spread and that we hope President Trump will be the guy to put a stop to this. Hard to not notice we saw joe biden in pittsburgh. Hes on the campaign trail any plans for him to travel to kenosha as well . We dont expect him to travel to kenosha anytime soon, not that ive heard of but they expect joe biden will be out on the campaign trail more vigorously after the restrictions on his travel we do expect biden making more campaignstyle stops in the days to come. Thank you now to other top stories with contessa better than big mama well done, frank. If you cant beat them join them. Delta and american joining united dropping ticket change fees the industry brought in 2. 8 billion in cancellation fees last year this year, its trying to coax more people back on to those planes and hoping that fewer fees helps walmart is launching a subscription based Membership Program that will cost 98 a year or 12. 95 monthly users will get discounts on gasoline and access to an app that lets you skip the checkout line in stores unlike prime minister, members will need to spend at least 35 on an order before free delivery in washington, d. C. News, a house panel has opened an investigation into federal contracts negotiated by peert navarro. They launched the inquiry after cancelling the 646 million ventilator project with phillips i dont know if you are a prime user or not, if you are, would you consider switching to walmart plus number one, remember when amazon maybe they still do ive been a prime member a long time but you would have to spind 35 to get Free Shipping they want you to pay a subscription for that. You dont get the video content with amazon prime. Remember, they have all this original content on amazon this app that they are talking about where you can go through and scan the items and skip check out. Sams already offers that, which is already owned by walmart. It works great i dont know why everyone hasnt rolled that out. It is such an advantage to reduce your facetoface exposure interesting point, that amazon prime tv. Im a big fan. As you mention, you dont get anything but maybe tiktok with walmart plus well have to see how that plays out. Thats true have a good morning turning now to an unexpected pandemic winner, aluminum. Consumers began stocking up on large packs of drinks post of which packaged in aluminum leading to a spike in demand aluminum cans skyrocketed in march. Our next guest says throughout his 22year career, hes never seen demand this strong. Joining me now, the largest maker of aluminum cans good morning ive got to ask in a tech heavy market, your stock becoming hot up 56 from the march low. How has that pandemic changed your production demand we are a fortunate company. Weve been deemed essential from the get go products we make will be the products we have you mentioned about sustainability the world has shouldered into it most people dont realize that 75 of all aluminum ever produced is still in use today the average can you pick up has over 72 to 73 Recycled Content in it. It is the most recycled container. Weve seen can demand become very 12r07k. It accelerated 24 in march and been up midteens every month since then it makes a lot of sense. People drink cans at home. Theyve been stockpiling their favo