Comments since saturdays Election Results poured in were live with a preview. And call it the holiday insurance policy that whole foods says home cooks just cant be without this thanksgiving it is wednesday, november 1 1t, you are watching Worldwide Exchange here on cnbc welcome from wherever in the world that you may be watching test veterans day. Bond market is closed. And the late jimi hendrix was a paratrooper. Happy veterans day and here is how your money is setting up the day futures are higher and across the board. And yes, that includes the nasdaq now, yesterday certainly more muted than mondays vaccine fueled rally, but still a good day for most nontechnology stocks the dow up now six of the past seven sessions and if you are counting at home, i know you are, we need to get above 29,551 on the dow. Just about 131 points from here. Big tech still starting to look like a big problem lately. The nasdaq done ovwn over 1 at. Zoom done. And individual wvideo game makee could you sign, all the stayathome stocks if you will down big yesterday well see if today can turn that around as we said,the nasdaq is highe in the premarket. By the way, bnd markond market closed for the veterans day holiday. In china, it was much like us, a big story about big tech shanghai comp and hang seng not down much, but Big Technology stocks fell a lot. More on that in a moment and the trading day in europe just Getting Started you can take a look at the european market, they are up across the board except what looks to be what is that, the netanyahu netherlands . Meantime in d. C. , the transition remains a top priority for president elect joe biden despite President Trumps refusal to concede the election as the president prepares to make his first public appearance today since the election was called for joe biden on saturday tracie potts is joining us from d. C. With more good morning reporter good morning. Not a lot of republicans are acknowledging joe biden winning this election. In fact many are saying that President Trump has the right to pursue these legal challenges. And some arent talking about it at all is it time to concede reporter president elect biden speaking out on President Trumps refusal to acknowledge his victory. I just think that it is an embarrassment quite frankly. Reporter biden is taking calls from world leaders, naming cabinet appointments by thanksgiving, planning to expand health care. I will protect your Health Care Like i protect it was my own family reporter his transition is moving ahead with no help from the Trump Administration biden is not getting the classified president ial briefing there will be a smooth transition to a second Trump Administration reporter republicans backing president obama arguing the transition is premature. Well allow the courts to to their work we need to send big bird to some of these states to teach them how to count. Reporter and lawmakers also reacting to president barack obama firing defense secretary mark esper threatening the continuity because hes having a temper tab dru tantrum. Reporter and tweeting more claims of voter fraud, disputed and flagged for lacking evidence but as you said, we do expect to see the President Trump today later this morning at Arlington National cemetery to commemorate veterans day, the first time weve seen him since the Election Results were announced. Just a quick question on the inevitable inauguration. Do we have any idea what the inauguration preps may look like obviously given virus concerns, we know that masks and being outside help, but they dont solve a lot of problems here what is the inauguration going to look like reporter it is a good question i dont know i have not seen any preps in irma its of whether it will be spaced out, whether that will limit the number of people who can attend i can tell you having covered the last several from the media standpoint and the public standpoint, people are generally kind of crammed in there and we were just talking about this yesterday about whether or not they will change the dynamic of how it looks and how it is set up because of coronavirus. Or if perhaps people will not come because they are concerned about the spread of the virus. Yeah, or they will just ask people not to come because listen, outside with a mask briefly is fine, but outside for several hours jammed this will not make dr. Fauci happy. But you make us happy. Thanks for coming on and lets get to the markets and the continued story playing out this week. The shift or at least appearance of shift from growth to value. The latter outperforming by about 2. 5 yesterday after mondays big jump which reversed some four months of outperformance in just one i think sink ghelg sessigle sessi. Ran democremocra and lets bring in a couple smart guys, brian nick and also josh wine. Brian, nasdaq futures are higher today so i dont want to make too much of it, but do you think that it will continue, will domestic small caps and value stocks continue to outperform from here . We suspect not. And that is because i think that what we have really seen this week so far is not so much a shift or a major change in the likely outcome for the economy or for earnings next year, but really just a reduction in uncertainty because of the reactio election, and he reduction of uncertainty because of the pfizer news. I think what a lot of us thought would be the timing is still intact, but the uncertainty of maybe we dont get one the all seems to be reduced. So when the tails get clipped off, it will tend it disproportionately benefit companies that are affected by the pandemic and position as it performs better in a better growth environment and i think that weve adjusted to that new news i dont think that we continue to get news that continues to shift things in this direction you know, josh, when i look at some of the individual names that you hold and that you like, they are all the g. O. A. T. Stock, get out and travel, maybe go out to the restaurant, whatever you want to call it. Darden restaurants, cisco which gets in stadiums, how much are you playing will sort of return to normal trade or whatever you want to call it . Sure. Yeah, it is definitely a theme that has been in the portfolio and it is now i think more important than ever. And certainly monday was a big day, it was a day of superlatives and i think that getting back to your original question on small cap, i was struck on monday by i think it was equal weight small caps were up over 8 and inside of that were some of the get out of the house stocks and cisco, it is early, stadiums arent opening to full capacity, restaurants not at full capacity, but it is coming and that will get, you know, embodied in the numbers and the estimates in the next several months and i think that it is a theme and something that has a lot of legs to it listen, brian, we have a lot of reason to be happy the last couple day, great news on the advantage sign front, great news on the mono cloclonal antibody treatment from eli lilly but lets be clear cases a cas cases are spiking, thankfully fatalities are lower, but it will be a tough couple months. Is the market maybe underpricing what could happen the next few months and i hope im wrong yeah, im afraid of this too because the other thing that you didnt mention was the lack of stimulus what we had the first wave was we had shutdowns, government mandated shutdown, people staying at home, but the businesses that were suffering were being supported in some measure by ppp and the individuals who were losing jobs were supported by enhanced employment benefits. But that is all gone so now were looking at the pandemic, were looking at people more likely to stay home i think in the next two to three months assuming that there is no break in the trend which looks like it will be perhaps even worse nationwide a lot of economic damage can be done and that will affect how fast theagre economy grows, peoe will have less savings and fewer businesses around to employ people if the next two to three months is as bad as were fearing. Yeah, i mean i just found out that my kindergartener will now be verge all through january just found that out yesterday. Understand why, but kind of bridal so you look at that, millions of families across the country that will have to deal with the same thing. And in your selections and your stocks, you can kind of looking past the next few months well get out of this come april, the sun will shine and it will get warm in the northeast and that is probably when we finally see the other side i think so. Without a doubt 9 nethe next the months are fraught with risk fundamentally. But yeah, i think as investors if we look at what just happened or tomorrow or next week, then we lose out on some of the bigger trends and just the math of how stocks are vaulted. Valued. So it is this year, next year and the year after and so on and there is a great setup for a leg higher with rates where they are and, yes, the potential vaccine, that seems to be somewhat imminent. So yeah, i think that you have to look around the corner absolutely final boarwords, brian, giveu also some strategy going forward. Kind of an odd time for the markets. What is your best advice to our viewers . I agree with josh, i think the markets can look past the next two to three months because they are pricing in the Bright Future so id say stick to your overall asset al lo astrategy most of questions are still about why the economy could be in rough shape and markets could be so good, and josh butt it well, markets look forward looking in the way that the economy isnt. So dont invest based on what you are reading, think about what things are likely to look like in a year and they are likely to look a lot better and so josh, how long are you going to ride these things and how much of a portfolio should this be . Percentages is up to each individual i would say that, you know, you look at the charts and Something Like a darden is up about 50 in the last few months and cisco, 20 or so percent and it is tough to put fresh money at names like that, but i think that in the context of a longer time frame, that will be a small move inside of a much larger one i think that things will we like to talk about things wont be normal again. I dont buy that, i think that behind the scenes they may not be the same, but people want to eat out, people want to get out, and getting out of the house is going to be it is already happening and that is one of the problems and that is why things are spreading. So i think it has a lot of room to run yeah, i know it is not what were supposed to be doing, but i can tell you all the i want to do is go sit at a restaurant and have wine and unlimited bread sticks and everything will be fine well get there. Appreciate it, thank you both. Coming up, there is a lot more to get through. Futures are higher, that includes technology, but overseas, ali baba having a record, well, singles week but the Chinese Government is making a move that is slammed. That stock overnight, well tell you what they did and what happened as well todays ways of working, may work differently tomorrow. But you can work out anything with comcast business. Get fast, reliable, and secure internet on the nations largest gig speed network. Flexible tools like wifi you control. Voice solutions that connect you from anywhere. And expert advice here, here, or even here. Be fast. Be flexible. Bounce forward with comcast business. Get started with a powerful internet and voice solution for just 64. 90 a month. Plus, for a limited time, ask how to get a 300 prepaid card. Call or go online today. 5 17 here in the east coast. The sun not yet arisen over wug washington, but still a lovely shot of the capitol. Let lets go to china. You look at the markets and you say not a big move, japan up nearly 2 , Hong Kong Market fell but not a big move but inside the markets, a lot happened look at that, ali baba, the biggest Chinese Technology company down 10 overnight jd. Com down 9 possibly clamp down and regulatory crush from the Chinese Government for more, lets welcome in our friend live in Mainland China what caused those kind of market reactions . It was yesterday that the Chinese Government unveiled a set of draft regulations around antitrust, antimonopoly laws. And this is the first time the government has introduced such wide ranging laws that really define what they consider to be monopolistic and antitrust behavior and areas from pricing of goods to payments options all the way through to how the company used data to target their user base as well. And important to remember, some of the Chinese Tech Companies are really integral to the fabric of chinese lives. Wechat is used by over a billion users. Ali pay is key to many things as well so they touch many parts of chinese life and what you are seeing here play out is something similar playing out to what is happening in the u. S. Too. That is theunencumbered growth to some of these companies that have turned into giants. And now china trying to rein it in, getting a hold of what is going on there and that is why you are seeing some of the big stock moves in the chinese names there. And that is because one interesting thing is in the u. S. When the regulators, when the government talks about regular lagsz, you havent really seen huge moves in the tech stocks. But we know when they say that they will do something, they will and when weve seen it in the past, you think about it when the regulators suspended what would have been the world record ipo, back in 2018 when the government stopped improving games, that really hurt. And so that is why you are seeing the stock moves and that uncertainty around the nut of regulation is really hurting the share 3r5prices of many of thes tech giants. And used to be called singles day, but because of the pandemic thing, which you guys are dealing with with or dealt where anyway, it is now i guess, what, singles week or singles two weeks. What are some of the single biggest trends that we have seen from this i guess sales event . Absolutely. It started november 1. It is usually a 24 hour thing that happens sort of on november 11th and so he have would seenweve p to this. Ali baba racked up about 372. 3 billion in sales, probably more than that. Blown past last years record over 270 billion juan. So a lot of shopping going on. And one of the interesting trends is because chinese citizens are not traveling abroad as much, their demand for imported goods is very high. They would have been buying those goods when they are on vacation for example, but allegely ali baba and jd. Com are focusing on the imported products as well and what you are seeing is that brands from the u. S. Are actually at the top in terms of what chinese consumers are are buying, cosmetics and Health Care Products are key as well. So those are some of the key products here on singles day yeah, a lot of stock drops. And what is that building over your right shoulder . It is beautiful. Looks like a giant Christmas Tree that is the big landmark here on the river that runs through well, it has the lights looks like a giant bag of skittles it is beautiful. Appreciate you coming on thank you very much. Still on deck, a throwback tuesday for apple and the battle between the mac and the pc, and the other top trending stories, Worldwide Exchange back. Todays big number, 21 . That is how much applications to u. S. Mba programs jumped over the prior year according to gmac that is the first increase in demand for Business Schools in fi yrsveea we hosted our annual evolve summit yesterday and it featured some of the biggest names in business kara swisher caught up metallicas drummer to discuss the future of live music ive heard about live concerts returning in the shape and form that they were in february and back is not going to happen for probably another year at the earliest and like i hear myself say all the time, the good news is on the live concert front that when metallica and other bands like metallica play big arena or stadium concerts again, then you can pretty much count on the fact that covid as we know it now is over. All right for more on that interview, you can head to cnbc. Com evolve and ride the lightning, if you wish. Lets get a check on some of the mornings other top headlines. Frances rivera has those and we start with each passing day after the election, president elect joe biden lead only grows biden is up nearly 5 million in the popular vote also. Georgia and arizona are still too close to call, but are leaning blue while President Trump is slightly ahead in North Carolina meanwhile nbc news has called the senate case in the tar heel state for republican thom tillis and democrats picked up a pair of seats in the house overnight, one in Washington State and the other in arizona coronavirus hospitalizations are at an alltime high, but hope is on the horizon dr. Fauci says data on the vaccine is impressive and it could be approved in the week come and if the vaccine is approved, he would take it himself at the masters, jon rahm is going viral for his eyeopening approach to the 116th hole. Instead of launching it over the water, he skipped it across the pond like a pebble three times and then you see the ball keeps rolling, makes to the green and keeps rolling eventually making it a full 170 yards to the cup for that hole in one oh, by the way, it is his 26th birthday hopefully he carries that same luck into the tournament which begins tomorrow. How impressive listen, before that shot, he was my pick. Hes my pick to win even before that shot. But if we show it, is it viral like it is not viral if were talking about it right . How does that work it is his 26th birthday, so happy birthday to him. Yeah, maybe a 10 million paycheck or something on sunday, who knows. Frances, thank you very much still on deck, getting a lift some rare good news for a beaten down took. The name to watch next plus, of all day, an untimely outage for microsofts gaming servers what would we do without our mine craft dow just fractions from a new high as all e