Welcome to squawk alley. Im Carl QuintanillaJulia Boorstin and jon fortt are with us for the hour the dow session alone was down 236. Were slightly off that s p 500 is off the early lows as well zoom helping to lead the nasdaq 100, john. Looking forward to disney and cisco earnings to night. That is definitely true, carl the big themes, protect investors today. Number one, game on. The play station 5 from sony is shipping and in stores as of today. Joining the x box series x this marks the start of the biggest console refresh. Really the only major console refresh in seven years its happening during pandemic lockdown and then youve got china. I mean coming off of a record breaking singles day where the chinese Online Consumer is flexing. We have to think about that exposed deadline for tiktok to do a deal in the u. S. For those assets i dont know if the president is interested in shutting down tiktok anymore fair to say his attention is elsewhere. Thats right, jon today was the day when the president said there needed to be a deal done to divest the assets operating here in the u. S. But, jon, that deal has not been approved by the Chinese Government yet its unclear where things stand. One thing is for sure, tiktok has got the attention of instagram. That tiktok look alike feature reels is a key part of instagrams redesign theyre putting it front and center on that home page now of instagram speaking of social media, jon. I have to highlight snap shares. Those shares surging today on a price target increase from deutsche bank. Snap now up nearly 8 , john. All right. Lets talk best pick to close out the year Amy Silverman joins us now along with mark of bernstein amy, when you look at whats happening at the end of this year, there is some major launches of Consumer Devices i cant help but Pay Attention to the con soles especially today. What do you think is the pandemic effect here people cant go out to movies. Should investors be paying attention to certain kinds of tech hardware makers, certain type of Software Makers as well . Yeah. Its a great question. And, you know, frankly, if we had looked monday, honestly seemed like the end of the world for all of tech and momentum and then here we are again so, you know, quite honestly, i think its going to be a slog back and forth between these work from home names working and not working. And in terms of what we see in the Options Market, you know, its very interesting because we do not see the level of the exuberance and option thats we did back in august so the people who are positioning in options for tech rig right now, they are not nearly as positive going into year end as they were in august a heavy component of that was retail the retail buyers were there back in august driving the market up in tech and in particular in the work from home names. They are not there right now mark, theres a lot of ecommerce that people are banking on toward the end of this year. I mean, its beginning to look a lot like christmas a lot of places even before thanksgiving. People trying to get us into that spirit. How much of that is warranted . Adobe is projecting it will be a strong season for ecommerce how should investors factor that in most investors factored in a record q4 our very First Digital shopping at home season it started off with amazons prime day in october that saw record numbers. There doesnt seem to be any slowdown from here certainly as you mentioned earlier, the console launches are going to contribute to it as we all get excited and really pull forward to set ourselves up for really a phenomenal q4 across all of ecommerce i think investors are looking ahead at 2021 and wondering on the back of that how much is permanent and how much of that may recede once stores do reopen mark, i think its interesting. Youre bullish on all the social media names. We have seen especially facebook make a big investment in terms of bringing ecommerce into the platform we saw that with instagram redesign i have ask you about this tiktok deadline what do you think is going to happen and the threat that tiktok could pose both to snap and facebook ad revenue . Thats a great question you know, it certainly came up when tiktok themselves actually put out a press release asking for some clarity on the direction of where things go you know, i tend to agree that this doesnt seem to be at the top of the priority list of where, you know, governments and regulators are looking at today. I dont think well have certainty or fin aa final answee the next couple months this may take a long time to play itself out. In the meantime, tiktok has not stopped activity theyve been very aggressive at putting out a lot of new ad product, a lot of new user product features and are certainly continuing to woo advertisers over to the platform in terms of the relative impact across the rest of social media, you know, to me, youtube is the one i call out over the long term that feels like it may be most at risk from a domestic tok. They serve the same feature set, right . We go in to be entertained its very video first and very consumption based. I think what weve seen from fiscal cliff and stainstagram, there is some overlap, theyre very, very clear about the priorities around connection tools and pushing forward the facebook shopping activities and exercise theres so, you know, i think for us we look at it and this is definitely takes some time to play itself out. Just a quick follow up there, mark i know you like snap, pinterest and twitter. The stocks are better positioned because of the regulatory noise around them is tolerable as you put it you call them 90 day fiance stocks why is that . Theyre stocks that have been benefiting from engagement and then the plan of why we called them the 90 day fiance stocks. To us, what we really look for in the names is what happens on a reopen how much of that sticks around how many get down the aisle, you know, to continue that analogy with their user base once we do reopen its not just with the users, but its also with the advertisers, the fact that how they make money. And we certainly have seen pretty much all of those companies woo new advertisers over to the platforms. You know, i think ill use the facebook stat. Over the last three months, they onboarded a million new advertisers on to the platform which is more or less the same amount that took them the previous 12 months to go do. And so when you look at these smaller more experimental platforms that are really trying to make a name for themselves, they had this to really make a case to both users and advertisers that this is a valuable platform for them from the advertising perspective in hopes of keeping them around as we get into a reopen you know, amy, im fascinated as we wrestle between the head fakes between momentum and value. Sounds like for you the bar that would indicate whether were actually making the turn are names that are very much at the epicenter, cruise lines, boeings, the Las Vegas Casino companies. That seems like a pretty high bar. Yeah. And were actually watching those names extremely closely and options because, you know, look, one thing that happened is tech is at the epicenter of the pandemic its been the winner and momentum everyone is waiting for when inflection is going to happen. There have been eight head fakes counting monday. Dare i say that the end might be near the one thing were getting in the Options Market is these skew inversions, meaning, theyre starting to become a huge call imbalance in the recovery names like cruise lines, like airlines, like energy that you saw specifically in tech in august we start to see those flair up, we start to see retail call buying come in and wales come in as well. I would watch those very closely for that to be the sim whtime wh recovery names start to win. Finally, sticking with the Options Markets, you say its very focused on dates and events all of them pretty much political. Zero in on tech for me, if you will based on what youre seeing, how much risk is there in tech and f. With the dates and events we get surprises and the Options Market is not expecting surprises . Two things to your point. The Options Market has come in quite a bit. Volatility declined in the short term i find that very interesting were about to get a slew of key dates from, you know, key trial information from moderna and pfizer obviously other trials going on. This is all in the november and december time frame. Put on top of that, you know, december 8th and 14th being key dates on the election itself which has its own macro in locations. I wouldnt be surprised to overall see that short term volatility pick up in tech tend of the day, if tech goes, so goes the market its such a heavyweighting to cue that i think you really have to watch that as an overall hedging perspective into year end. All right you got us covered on markets, options and volatility on the stocks themselves. Amy, mark, thank you thank you jon, aztec gos tech goes, sos the market dont go anywhere. Squawk alley returns in just o nus. Twmite before we talk about taxsmart investing, 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. Shares of qiagen is higher today. They will process up to 30 swab samples in just 15 minutes the ceo joins us once again. Great to have you back and thank you for joining us the weak is so full of news on the theyre future pooutic and vaccine front that we sort of let test going by the way side thats going to be very important. I agree with you. And to start with, i say that it would be to try to owe post testing and vaccinating. Both goes together you test and treat we welcome at rufal of vaccines against coronavirus and efficient vaccines that doesnt mean that this team will stop. We do have needs for testing you look at the virus. It is still out there. It is circulating very fast. And we have plenty of examples of other transmitted diseases where you do have a good combination of vaccines and tests. Flu, for example, we have flu vaccines for years every winter as you continue to test for flu hpv is another one you have a vaccine for hpv so i think we should see it as a efficient against the coronavirus rather than opposing both yes so talk to me about the innovations on this new test portable, digital, point of care where are the advances where do you think the bottle necks remain once this is deployed well, i mean, as you know, we focus on the european Testing Solutions for many application and Infectious Diseases and oncology and for the beginning from the beginning of this pandemic, i believe that we have probably developed the most comprehensive portfolio of solutions of Testing Solutions for coronavirus. For labs all over the world, they are developing their own test, we have the extraction of new cases and a wide range of solutions. We have rapid pcr tests. Can you not only test for coronavirus but also against other syndrome potential Infectious Diseases. The virus continues to circulate in the u. S we need to find solution that they come in closer to the patient. That that helping government to decentralize testing and obviously that there are also providing faster results and this is exactly what our new test is going to provide its a very easy to use test im not sure that you can see it but its better than showing it. So there we you see its very light. Its less the size of your lab top. And inside that you can insert a very simple cartridge that im showing here you can insert eight cartridge at a time in that portable machine and run them in parallel so eight cartridge at a time can you get results between two minutes for a very strong positive signal to 15 minutes at the latest for a negative test and the hub that i showed you is portable, as you say not only very light, but battery operated so you can basically use it in very remote areas. You can send research to the Laboratory Information system that is using it this seems like it will have huge potential in so many different scenarios with such rapid results. Im curious what the pricing is. And if you imagine this being something an airline would use to test passengers before they get on an airplane is this deployed to schools or something that concerts use to test people before they walk into a concert venue and how does the pricing fit into the potential use cases in the coming weeks, well have a point of care. And before going to this antigeneral test in particular, i must say that this covid19 pandemic is proving the crucial importance of testing. You said it yourself we have pcr solution installed at airports. We have testing pcl solution you have population. So this will be obviously a key solution for those kind of testing. Who do you see doing the best job of o symptomatic people and how have they managed to do it well, thats a tough question to ask to me i would say first of all, we have received extraordinary support for all the governments in the world i think that between europe and the u. S. , germany had a very efficient testing strategy but in the u. S. , we have a great collaboration which it is hhs and different agencies to spread out testing capabilities i think every government has really tried to step up to the challenge. To the question of prices, first of all, its a very, very strong model. It is to leave no one behind owe mirthing countries, developing countries this antigeneral test has to be cheaper and therefore more affordable than a pcr test pricing depends on volumes but is going to be made available and affordable for very large settings and decentralized settings we applaud any innovation and development that helps the world get back to normal and normalize the economy. Thanks for the time. Well talk to you again. Thank you for having us thank you. We were highlighting the console. Video game stocks are on the move this morning. Shares of Electronic Arts and active igs both trading higher as the new play station 5 launches of course, Microsofts Xbox series x debuted tuesday well have more on the console wars lerhiho before we talk about taxsmart investing, 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. Keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo instagram is adding shop and reels tabs at the bottom of the navigation bar moving the creation and notification bars to the top right now this speaks to the huge potential for ecommerce on the platform for brands and influencerses to sell to consumers. I spoke to head of instagram who tells me this change should drive growth of shopping activity on the platform which has multiple benefits. Saying, we take a cut of transactions it is also an advertising supply business showing ads in a shopping space is more valuable because youre showing ads in a space where people have a higher intent to actually purchase or buy. This also speaks to instagrams plans to make money for reels. They tell me they will eventually put ads into that reels format saying that right now theyre in a catch phase with tiktok which pioneered the short form video format but over the time over time they will differentiate and innovate reels facebook shares up. 5 that stock is up 35 for the year jon, the question is how much of a growth driver are these types of things can be for facebook as some of the other areas were starting to see that ad Revenue Growth plateau yeah. Julia, i think this is so important for investors to understand and dig into. Carl, its an opportunity for players like big commerce and especially shopify those act as the sort of dashboard for Small Business and medium size business where if you dont want to just be selling on one platform, say on your own sight or on amazon, you want to sell across many across also facebook and stain grinsta, ebay, et cetera. You want to sell through them. They allow you to spread out to multiple places. The more initiatives there are like that, the more opportunities there are for these ecommerce shopping platforms, for, you know, your bill. Com type players that integrate all of that Financial Data into one place, carl. Yeah. And the way in which this just blossoming into new players and new giants from a market cap perspective, jon, is an mazing thing about the american economy. Well take a break here. Dow is still negative. Off the session lows of about minus 230. Holding o ton 3555 at fidelity, youll work with an advisor to help you build a flexible wealth plan. Youll have access to taxsmart investing strategies, and with brokerage accounts online trades are commission free. Personalized advice. Unmatched value. At fidelity, you can have both. Welcome back, everybody. Im sue herrera. Heres your cnbc news update at this hour. Kentuckys Supreme Court has ruled unanimously in favor of governors man dags including a mask mandate the governor lacked the constitutional powers to enact the restrictions detroits Public Schools are going back to all Remote Learning due to rising covid19 infections in the city the roleback goes into effect on monday and it will last until january 11th a report by House Democrats find lawmakers can securely vote from outside capitol hill using existing technology. House republicans have said they oppose remote voting and Democratic Leaders have also pushed back against the idea and senator lindsey gram says he is donating 1 dlg milli 1 million to help runoff elections and counter liberal spending on the races. Youre up to date. That is the news update this hour julia, out to you. There is going to be a lot of advertising for those runoff races. Speaking of advertising, Online Advertising