Before she hits the ground shes going to want to step aside good monday morning welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin markets looking good, yields up and oil up as investors are focused on two things, the prospects for more stimulus covid aid and the potential departure of the president from walter reed on the latter point well turn to eamon javers good morning. Good morning, carl. No information yet from the white house at 11 00 a. M. , but they did bring the White House Pool reporters over from the white house here to walter reed which indicates there might be some expectation that we could get a briefing for the press within the next hour or so were going to stand by for that meanwhile, no indication whether theyve made the decision yet to move or not move the president they say theyll make that decision with the medical team later on this afternoon. So we continue to wait here as we learn that the Vice President and mrs. Pence have tested negative today the white house saying that the first lady continues to rest comfortably back at the white house, though that is the status of the people closest to the president of the United States, and outside walter reed, weve got sort of dueling groups of supporters for the president , we have one group flying Tea Party Flags and blasting classic rock and another group over here blasting antibeijing rap music. A lot of supporters and people coming by, honking their horns in support of the president here just outside walter reed a little bit of a carnival atmosphere i would say developing here on wisconsin avenue, carl, as people await the latest and voice their support for the president of the United States. Back over to you very 2020, eamon. We wish the president well thank you. Well now turn to this mornings Market Reaction as investors remain hopeful about the president s recovery as well as the possibility of renewed stimulus talks chris, Portfolio Manager at needham and brad, cofounder at nzs capital join us now. Guys, good morning chris, i want to start with the question, the president is sick with covid19. We have a major Movie Theater chain shutting down, a major election in 30 days, that is the weirdest of my lifetime for sure, but at the same time m a and ipos in technology are still looking healthy. Are tech investors ignoring too many risks i think today what were seeing is some removal of risk in that President Trump didnt get worse over the weekend, which is favorable to the Market Technology in general, though, has really good secular Growth Trends behind them and whether the president s sick and, quite frankly, getting past the election is also going to be a real positive for the industry because its just one more variable that will be removed. When you look at Companies Like apple and all the major, large Tech Companies, theyre building plans for their new products and services are still going to move forward. As a small cap manager we try to take advantage and investor in those companies that are going to benefit from the longterm growth rates really and truly i think looking forward, if you were a longterm investor, theres probably going to be some really good opportunities in this more volatile october that were about to see and brad, one could take that to mean that one could expect stocks to drop somewhat from here whats your take yes, the longterm trends are positive and people have been saying that part of what this pandemic has done is accelerate moves to the cloud, focus on data, et cetera, but boy, isnt there a lot of near term uncertainty . Yeah. I agree with chris here. There is a lot of near term uncertainty, but look, in the history of the human race, the pessimist is and sin nicks have often sounded smart, but its been the optimistic who have won in the long term and thats what investors need to do now focus as much in the long term as they can. As i look at the world around me, it still feels very analog to me and still living in the 1800s or 1900s, 5 or 10 of the economy has gone through a Digital Transition 100 of the economy will be digital decades from now and that transition is well under way, the pandemic has accelerated it a lot of uncertainty in the near term but focus on the long term trends and how tech is creating the new operating system for the entire global economy. So brad, to follow up on that, where are the opportunities to tap in to these sectors . Are there Certain Industries or Certain Companies that you think maybe the valuations are not so stretched yet . I think one really interesting industry that is making the transition to digital among all the examples is in the u. S. Real estate market. Where its still very much an analog transaction despite a decade or more of turning that into dajta digital marketplace. This is an example of what is happening to older economies and older parts of the economy the they transition. So you have Companies Like zillo and redfin and open door trying to take an analog transaction and turn it into a diblgtal marketplace with he see certain really interesting characteristics like vertical integration matters, data matters, software matters, user interface matters these are all things in the analog part of the economy didnt really exist but now theyre the things that create the winners and accelerate that digitsal transformation. Chris, i want to pose a similar question to you. Youre bullish about certain tech trends. What are the areas where you think there is still opportunity, you know, we could talk about tech valuations being stretched. But are there certain sectors or pieces of this market where you still see meaningful opportunity . Look, i think that the theme of the analog transition over to digital is point on. If you want to take one, its i think the resurgence in the Automotive Industry that were beginning to see across the supply chain you know, theres more and more electric vehicles. There is more and more computational power put into the automotive vehicles which we think is going to continue thats good for semiconductors, battery technology, specialty materials. And then it ties into the Wireless Communications where these devices, lets say, or cars are going to need to connect back into the internet and other forms of Data Collection again, these are long term trends were beginning to see the recover roy in t recovery in the auto industry. We think thats going to move along the semiconductor space. Brad, given the picture that you painted of long term optimism, what are some specific stocks that youd call out that you think are perhaps underappreciated i know in security you mentioned salepoint and cyber arc. What do you think are the most underappreciated thats right. Look at all the Ransomware Attacks with the work from home and the Digital Transition, i had identity and access megment are at the heart of that that is salepoint and cyber arc among the three types of identity and access manage mebt solutions. I would completely agree with chris comments. This diblgtal transition only happens because its built on a Technology Layer of semiconductors and theyre the enabler. Theyre enabling everything as dajts a Digital Transition happens and there is innovation happening in robotics which has been a slow industry to take off over the last few decades. The idea of a cobot, a robot working alongside, cooperating with humans, not replacing humans and jobs but really making humans better at what they do, safer at what they do we think is a big trend. And texas instruments, micro chip, connector companies are all enabling this really powerful trend thats a lot of names thank you, brad. Will thanks, chris thank you thank you shares of ceneworld cratering after announcing theyll shut down all u. S. And uk operations due to the pandemic. That stock down over 36 the ceo joins us next on that decision after the break regal scineworld decided to close in the United States and uk as the pandemic devastates the business the ceo joined us now on this decision thanks for joining us. This news came on the heels of the james bond movie that had been delayed multiple times, being delayed again to april from november. Tell us about your choice and why you decided to make this choice particularly right now. I think that the best example to give here in order to be clear is we are now like a kind of grocery shop that have no food to sell so the cinemas are good and ready and safe and successfully and warmly welcomed by our customers. But we dont get new movies or most of the new movies in the big movies into the screen bond was one of them after a lot of postponements done by other studios in the last six weeks. And we have nasiare facing a sin where its better for the company to be closed than to be open and main reason here, i know everybody, the whole headlines went into the bond its not the bond case that it is on. The u. S. Market is the most important market in the world. And the two markets of new york and california are the most important markets in the u. S and the studios are hesitating and likely so in a to release movies without new york and california while in california but one moment. While in california, were already 50 open n new york, for some reason, although other indoor facilities are open, we are not allowed to open yet. This is blocking the possibility of releases. But the studios see its not worth ut to put the biggest budget movies to make 200 million in market in theaters yet. At what point will it be worth it or make sense to open again do you need a certain number of wide releases . And what does that look like for you . I think first of all, the example of tenants, they opened months ago six weeks ago and very successful interin ationally most of the markets, the movie will gross internationally at the end of the day 300 million. Not many move yuz are doing it in a year in normal times. The United States missed the release, california and new york changed the pat tesh of the release and the movie was much less successful. I think if we get new york back and we get the rest of california back, movies can be released now i believe the studios are ready to take a us are being but theyre limited. And im sure that they can do business and maybe not the normal business phase but they can do business if we get these places with us currently to operate the cinemas. Its better for us to wait might be a month, might be two months until situation is clearer. Maybe this will be vaccination it may take another month. But at the end of the day, we must have a clear lineup of movies before we reopen. When you say getting new york back, what does that mean . What is normal business right now . And if you were able to reopen in states like new york, would you be willing to forego whatever relief might be coming out of congress . Look, first of all, we need to see and then we can analyze the were here to analyze everything but on the other hand, we took a lot of important, a lot of unvestment noo in order to creae environment. I dont think nun knows athe least in our territories, were operating in ten territories around the world central europe, uk and u. S. Of any covid19 case that was reacted or was brought in from a cinema visit theyre safe we need the movies and if new york can allow indoor dining, can allow bowling and can allow casinos, it can for sure allow Movie Theaters the. We have a bit of awe chickenegg situation here where maybe the studios are waiting for an indication that audiences are going to open. If youre talking about potentially looking again at this in a couple months. It seems to me were looking at that thanksgivingchristmas wund yoe. I dont know if any of trat decisional whipped yoez that come out during that period are going to come out. But is there a plan in rereleases or Something Else that you think would get those Holiday Shopping crowds into Movie Theaters if do you indeed open up during that period no. I think that we need to get back to big movies and the new movies the oldies are nice. There is a certain public that love to go see them. Many people went to see tenant in a way but we need the big movies pt in the territories we operate, when we open the big polish movie or hungarian movie, the cinemas were packed. Subject to social distancing and restrictions people want to go back to the cinemas. But they want to see the new movies and i agree with you its a classic chicken and the egg. But here the chicken and the egg have one trigger we need to have back the big states that are still not open its not only New York New York is relatively a symbol. But, you know, we never said one through all the crisis, not in the other countries, no tt in ay state with regards to the governors what to do i think the governor of new york has done an extremely great job against covid19 but one thing i miss from him and this is the explanation why in dining yes with restrictions, why no bowling yes why casino yes why we are not i think the cinema yes . But, mookie, final question about what your business looks like on the other side of this how your business survives when we are able to open Movie Theaters again, when studios are releasing movies, are you going to have fewer theaters is the overall theatrical business going have fewer screens in the u. S. . Are you going have to raise prices look, i dont know how many cinemas will survive i guess there is a big danger of many of them not to survive. Cineworld is strong. Were going to survive whether it will will take two months like you predicted, maybe until christmas. Maybe if it will take even four months were going to stay there and were going to reopen strong and big. Our cinemas are great. We invested a lot of money in our theaters this industry is not going anywhere this industry is here to stay. Remundi remu reminding all of you that eight months ago we finished the biggest year ever internationally, worldwide we spent billions of dollars people want to go to the movies. We need the environment. We need maybe vaccination, we need medical not so quickly well go back to normal but cineworld is an company that has 1. 1 billion profit, it is not going anywhere the only thing that we are waiting is to have back the permission to operate with restriction and then the studios will come along and well come along. Mookie, thank you so much for joining us on this day with so much news. Thank you very much, guys thank you. As you get closer to reopening. Carl thank you very much meantime, guys, session highs here dow is up 400 points s p 500 trying to get back to 3400 for the First Time Since september 16th y ua a founder is moment as waonsqwklley. The please stay with us. Fortun i was blessed to be part of building one of the greatest game shows in history. During that time, we handed out millions of dollars to thousands of contestants. And i thought, what if we paid the contestants their winnings in gold instead of cash and prizes . Back in 1976, we had a wonderful contestant named lee whose threeday winnings were valued at 12,850, and you know what . That was a pretty big haul back in 1976. So i wondered, what would have happened if lee had put 12,850 in cash and then put 12,850 in gold in a safe, just sitting there sidebyside from 1976 until now . Well, i went back and i ran the numbers, and what i found was amazing. We all know that 12,850 in cash would still be sitting there, but it would be worth a whole lot less than it was in 1976. But that 12,850 in gold, safely stored away, its worth 135,000 as of the taping of this commercial. Now, thats more than 10 times the original amount. And thats why ive been putting my money in Precious Metals for years, and i dont see any reason to stop now. [announcer] if youve bought gold in the past, or would like to learn more about why physical gold should be an important part of your portfolio, pick up the phone and call to receive the complete guide to buying gold, which will provide you important, neverseenbefore facts and information you should know about making gold, silver, and platinum purchases. If you call right now, you can also receive a copy of our new u. S. Gold report for 2020. Inside, youll find the top 25 reasons why you need to start owning gold today. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u. S. Money reserve is one of the most dependable gold distributors in america. I want to turn your attention to a slate of consumer stocks, fresh record highs to day. Snap is at 3 1 2 year highs. Twitter hits its highest level in more than two years peloton and roku notching new all time highs this morning. Along with pinterest it has been hovering between positive and negative territory. You can see it this just a little bit abovela ft. More squawk alley after this break. Ing, whats new . Audreys expecting. Twins wed be closer to the twins. Change in plans. At fidelity, a change in plans is always part of the plan. Hmms and ahhs heard incall. Working within amazon transportation services, i really saw the challenge of climate change. We want to be sustainable, but when you have a truck covering over 300 miles, or you have flights going hundreds of miles, its a bit more challenging. We are letting the data guide us to the best solution. Its inspiring to try to solve a problem that no one else has solved. Thats super exciting. Welcome back, everybody. Im sue herrera. Here is your cnbc news uptake the. The Supreme Court has started the new term with a remembrance of the late Justice Ruth Bader ginsburg the court allowing a lawsuit