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tv   Worldwide Exchange  CNBC  October 16, 2020 5:00am-6:00am EDT

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arnely $11 billion total presidential and congressional races combined in 2016 that number was only around $7 billion. and now you know the news. for this thursday october 15th, 2020, i'm shepard smith at cnbc. see you back here tomorrow it is 5:00 a.m. here on the east coast and here is your top 5 at 5:00. stocks scrapping to snap their losing streak. president trump and joe biden takes part this split screen town halls as the two begin their final dash to woo all undecided voters ahead of election day and a new study casting doubt on one drug that has been the forefront in the fight against covid. twitter's bad week getting worse. the company suffering a major outage and breaking down the many
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obstacles facing oil and gas and why the lock downs are a big deal but may not change much longer term. it is friday, october 16, and this is "worldwide exchange." if i have it right, i think that is the black key and the song is 10:00 a.m. but we're playing it at 5:00 welcome from yfr wherever in th world you are watching stock futures right now are in the green but let's be carefully here, they are basically flat. dow futures are up 9 points, so
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in the green, yes, nasdaq up 22, but got a long i way to go the big money question on this bring is whether today will mark a rare four day losing streak for the nasdaq we're down previous three sessions, although amazingly we're still higher on the week outside of stocks, the big winner this week has been bitcoin. that's right, up 4.5%. climbed earlier back above 11,500 bitcoin has been the winning asset class coming into a friday let's go around the world and it is looking like a nice session in europe as well. let's ghets t get the trade, geoff cutmore, super excited to join you here on world i'd exchange. and it shows, geoff. what is going on in europe. >> always good to talk with you,
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brian. we have a lot of positivity in the european markets at the moment a lot of this is about autos which is fascinating because it seems that people are finally going out and buying cars given. so we're making up some of the losses that we saw in agreed's b yesterday's big selloff. car sales rising for the first time this year in september.d's yesterday's big selloff. car sales rising for the first time this year in september. registrations for the first nine months still down about 30%. daimler reporting better than expected earnings for the third quarter and saying it expects positive momentum to continue for the rest of the year so we are being driven higher here by the auto sector. let me mention some individual companies outside of autos, shares in lvmh also trading higher, the french luxury goods
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maker said solid louie vuitton handbag sales helping to offset weakness in other areas, the group also seeing strength return to the chinese market lvmh of course remaining in a legal battle with tiffany after the collapse of that deal earlier this year. and one other story we 1450 mention, thyssenkru stock higher, but the german unions are not happy about the planned deal back to you. >> you know, we have the on that silt problem here. you say used cars sales there taking off, you can't buy a used car here because not a lot of good cars on the market. have a good weekend, buddy thank you very much. and state side in last
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night's dueling town hall events as president trump and joe biden look to sway what may be any -- are there any undecided voters with just over two weeks left to go to election day tracie potts has more on what happened last night. good morning >> reporter: hi, brian yeah, there are some our polls show that some people have yet to make up their minds between these two very different candidates and different tone in philadelphia with joe biden, the president in miami sometimes hostile to the questions he was being asked. >> well stated, i have to say. >> reporte president trump and joe biden booth making news in their competing town halls the president with savannah guthrie on losing the election >> will you accept a peaceful transfer and the answer is yes, i will, but i want to be an honest election >> and joe biden with george stephanopoulos on enlarging the
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supreme court. >> so you will come out with a clear position before election day? >> yes, depending on how they handle this. >> reporter: both answered questions on coronavirus, biden slamming the president's response >> the president's responsibility to lead and he didn't do that >> reporter: the president on testing at the last debate >> you didn't know if you took a test the day of the debate >> possibly i did, possibly i didn't >> reporter: president trump tried to clear up concerns about race >> are you listening i deannounce white supremacy >> i don't owe russia money. i owe a very, very small -- it is called mortgages. people have a house -- >> any foreign bank, any foreign entities in. >> not that i know of. >> reporter: and biden addressed criticism about the green new deal and whether edelman date a coronavirus vaccine. >> it depends on the state of the nature of the vaccine when it comes out and how it is being distributed. >> reporter: both will appear on the same stage next week for the
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final tee bates debate in nashv. but for today, it is back to the campaign trail south for the president this georgia and florida, a state where he is trailing biden and biden is going back to michigan, a state that democrats desperately want to win back, he is talking health care you up there today. >> and literally it comes done for just a couple states michigan, wisconsin, maybe florida and a couple of others and that is probably going to determine the election tracie potts, thank you. take care. nowto your money and what has been rather odd week with the markets seemingly no longer reacting to renewed lockdowns. so what might it react to? we're joined by ben emmens again, great to have you on. i look forward to your daily commentaries pretty much every day. i and i say that because we've had these sort of new lockdowns around europe, but the markets
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are actually higher this week. so the market is pricing that in because i assume it just anticipates greater stimulus what do you believe will move the markets going forward, is it more stimulus, is it something else . >> it is certainly stimulus. polls aren't really shifting on markets look at the election being termed and then it will be followed but we have to keep an eye 00 europe where the lockdowns are now partial. if it becomes a bigger lockdown, that could change the sentiment in the market. i think for now this is still a very up deet mbeat market, ther
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momentum in the car market and as earnings can through and stimulus is anticipated, i don't he see the market trading tonight otoo much off at this point >> in america, we always had bad economic news for a decade was, quote, good news because the fed was more in play if the economy slowed down, the federal reserve firing that fiscal stimulus arrow at the market i think health data has become kind of the same way where if you have data not trending in the right direction, it just increases the odds of more fiscal and monetary support which bizarrely then would be -- in other words, bad news is also sort of -- hate to say it lie that, but you know he where ink going. >> definitely, brian with the deteriorating health
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situation is rather ominous, the impact that it has on people and on sentiment confidence is not positive, yet markets are positive because the health concerns are so high that politicians will focus on we need to do more and more for the economy to keep it going and we need to invest into the healcri cicries -- crisis itself. and there is a moment as we rally and of course the health crisis has changed the economy and to some degree better in the sense of more digital demand, more efficiencies, more demand for other types of services. so oddly enough, we're sorsening health crisis leads to higher markets. >> you want to lock down because you want bigger stimulus, everything is politicized. outside of that, are you seeing value anywhere in the stock
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markets fleglobally and if so where? >> i remain optimistic on the reopening. i think that we'll continue to v ha have -- as the economy reopen, there will be countermeasures taken. and the economy actually gets stronger take the case of you are own case in june, july, we had a lot of cases in little sunbelt states people worried, but from there the economy accelerated. so i think the case could so be here in europe for example. so i think that the airlines are attractive same as in the u.s., the leisure and hospitality sector continues to lag the technology sector and i still think there is
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value. >> markets seemingly in longer reacting to lockdowns, but maybe optimistic about the reopening ben, appreciate you coming on. when we come back here, one of tech's original big guns, bill gates calling on lawmakers to shift their strategy to crack down plus senator elizabeth warren targeting the trump administration over warnings of the coronavirus. and the biggest insider buying this week, what names had the most executives snapping up their own stock. we'll lay them out in our exclusive segment. dow futures up 4
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welcome back a new study is raising questions about one of the earliest treatments in the fight against koef covid. arerahel solomon is here with t and more >> the antiviral drug remdesivir has, quote, little or no effect on mortality for those hospitalized with covid-19 and the drug does not seem to help
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patients recover any faster. it was part of the trial by w.h.o. and a study which covered more 11,000 virus patients has yet to be peer reviewed gilead sciences said that the findings did that mean that the drug is of no benefit. twitter says it has no evidence that an outage was the result of a security breach or hack so some twitter users began reporting problems sending tweets and refreshing their time lines last night the company revealed that it was changing its policy on hacked materials that follows backlash over its decision to block links to a news story about joe biden's son. and sticking with big tech, bill gates says that antitrust regulators should look at the sectors leaders swridly rather than all at once speaking at a conference yesterday, gates cited different markets for companies like
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amazon, facebook and google will operate. he added that regulator scrutiny is important given the influence that they have but maybe do it separately instead of all at once >> yeah, twitter was down for 90 minutes, american productivity soared >> how could we go on without twitter. >> they hugged their children, people completed long lost novels >> we once again were a productive nation for 90 minutes at least >> 90 minutes. just a spectacular time. i miss that 90 minute rahel, thank you very much about. on deck, business leaders calling on the trump administration for new rules on diversity in the workplace and plus why covid lockdowns may be a big deal, but not transformative for energy at least according to the next guest.
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12.3% is the financial secretary torp's current weighting in the s&p 500 it is the lowest level since 1996 according to data track. the sector is the second worst performing group this year down nearly 20%. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like...
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welcome back covid-19 and government lock downs have an impact on the oil industry refined products are as people continue to avoid nonessential travel and work from home remains the norm that has forced some companies in to bankruptcy but a recent report by s&p global plat says while the hit is far reaching, it will likely have little impact on when there is more demand for oil and let's get insight. chris, thank you for joining us. your report was fascinating. it is really a weird dynamic because we think, okay, yeah, nobody is flying, so jet fuel demand this is 35% of u.s. use is down, but moer peopre peoplel drive because they won't take
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mass transit how does the ballet out for you and your team. >> aviation has been hit hard, but as we saw in 2011, it took many years to recover. and we see a lot of saving which is pent up demand for people who want to take the holiday and travel we have people working there home who are not using their cars, but they are heating up their houses so on the electricity and natural gas side, we actually see demand higher year on year when we look at the oil demand side of the market, i think what we're seeing is an emphasis on inequality and wealth inequality evolving what we see is the less wealthy are being impacted by losing their jobs, affecting their education which will slow down the global growth of gdp, but those who have got jobs, they don't want to get on public
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transports on in the u.s., we're seeing record sales on second hand cars those are inefficient cars, less efficient engines, which will be driving and going to be used to get people to work you have to go to work whether workings hospitality sector and don't want to get public transport. on the other hand, the wealthy are able to afford to self-isolate, to social distance so rv sales are up this year because people are taking their social distanced holidays in their nice new rv. private jet use is in. so we see this inequality occurring. so it is not all bad necessarily for jrg. >> yeah, and not to toot this show's car horn, we talked about in mid march that used car sales would boom because everybody wants to be alone and that is the irony, we're actually pushing ourselves toward more fossil fuels electric cars continue to grow we understand that but we're still looking at 2.5%
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of the global market for cars. you call covid-19 a significant but not transformative events. i found that bit surprising. explain. >> i think the significance is the shorm term a 20% cut in oil de demand in ai and may. but it will come back. next year will be 2 billion barrels a day. the reason that we don't call it transformative is for those reasons that there is so much demand stickiness in oil demand. take the way we're now shopping. we're all shopping online. we're not going to bricks and more are tar shops, lose a little bit of energy, but so much demand for oil for all those deliveries z to our homes
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and there are not many electric vehicles making those deliveries and the other thing is low energy prices. the one thing that is changing that is transformative, it is putting pressure on to the oil companies because oil prices will remain much lower but that therefore creates a bigger barrier, a bigger challenge for electric vehicles and other technology to take over as quickly as we would have liked to at higher prices. >> the weird irony, lower gas prices, mental analysis when they go to buy a car, they are like the electric car is 20 grand more expensive, i'll never make that up to y do you see any reason why global oil prices may move meaning 234ri highfully higher t year >> there has been a big cut in capital expenditure by the majors but in the short term, there is plenty of gas to fill the gap. the big issue is right now we're
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relying on the middle east to provide the oil that we need as demand grows and of course the middle east is a hot bed for geopolitical tension. so a rise in geopolitical tension, perhaps iran coming back into the fore depending what happens in the u.s. elections could therefore influence the supply security for the middle east which would cause a rise in oil prices >> and libya coming back online as well. chris, big new report. we pleerkts you com appreciate t out for us thank you. and on deck, president trump and joe biden starting their final sprint to election day with two competing town hall events eamon javers has a full breakd you know and the key take oi apgs
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stock futures are flat on hopes of millions more in taxpayer stimulus. and trump and biden taking it to virtual town halls as millions of votes have already been cast. and our look at the companies seeing the biggest inside buying including one little talked about biotech with a big insider buy. we'll name names on this friday, october 16 and this is "worldwide exchange."
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welcome back i'm brian sullivan thank you for joining us here is how your money and investments look as we are about 456 w halfway through the hour stock futures down about 19 points right now and i guess the big money question is whether today will mark a very rare four day losing streak for the nasdaq. now, here is what is on. we're done the previous three sessions, tuesday, wednesday, thursday they were lower. but because of monday, we're still higher on the week overall. in fact could have a four or five week win streak so we have a little mini losing streak, but a macro win streak and of course macro, dear
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friends, is what we care about time for the weekly insider buying segment highlighting the executives buying the most of their oshares with their own money. and we usually do five names but with earnings season going on, many executives are restricted in what they can still buy. so we got three names for you this week. and here you go. the stock with the third most insider buying, medtronic. rich anderson buying $499,000 worth, his eighth purchase in nearly 20 years. number two is gissamerbio, just under $1 million worth of that stock. and by about the way, the cfo and general counsel also buying stock there as well. a name to watch. and the most insider buying this week, selecta bio sciences, a director doing a lot of buying
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increasing his stake by 27%, buying $5.9 million woorth of te massachusetts based biotech. there are your three names all in health care and biotech space. and reminder, we do this insider buying segment pretty much every friday here on "worldwide exchange" and our thanks to insider for the data from your money to your vote and with just two weeks to go until president trump and joe biden go to the ballots, they cast their messages last night to you in competing town hall events eamon javers was watching it all on split screens and he joins ss us now with amore >> and this happened because there was supposed to be a town haum debate between the two candidates with both on the stage at the same time, but when the debate commission said that that would have to be virtual after the president was hospitalized with the
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coronavirus, the president pulled out and said he wouldn't to a virtual debate. so what ended up happening is we had joe biden on abc, donald trump on nbc in the same time slot giving dueling town halls in which you couldn't even really have the town there because of t because of the social distancing requirements joe biden continued to hammer donald trump in the economic recovery and the shape of it >> when you allow people to get back in the game and have a job, everything moves everything moves right now you got the opposite last year during this pandemic, you had the wealthiest billionaires in the world, in the nation, they made another $700 billion $700 billion he talks about a v shape recovery it is a k shape recovery
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>> so joe biden offering some economic analysis there. for his part, donald trump was on the defensive in many cases with savannah guthrie interviewing him on stage before they ght to tot to the q and a t what the president said though on the issue of the "new york times" report that he owes $400 million to persons unknown, the president confirmed that because said he won't say exactly who it is that he owes the money to here is what he said >> i don't owe money to any of these sinister people. that has been going on for years now. russia, russia, russia turned out to be a hoax and it turned out that hillary clinton and the democrats were dealing with russia, not me. it is a whole hoenkax so i would not mind saying who it is, but it is very small -- when you look at vast properties that i have and they are big and beautiful and well located, when you look at that, $400 million is a peanut.
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>> so the president there saying his $400 million in debt is just a peanut, he said that he wouldn't mind releasing the names of whoever it is that he owes that money to but said he won't do it. so that is where we're left after last night, two starkly different candidates with two starkly different styles we're scheduled for one more debate on stage between these two men, that will happen next week on nbc news and we'll wait and see how it you were its out or if it even happens given the contentious fuss of this election cycle >> dang it, that is my followup question what is the likelihood we'll have that debate in person next week >> george stephanopoulos asked in a exact question to joe biden. biden said that he will abide by the rules of the debate, whatever the debate commission comes up with, he will follow that
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interestingly, trump was pressed on this question of did he take a test for covid before the last debate remember, that is part of the rules. you are supposed to have a negative test before you come into the room for the debate the president didn't answer in a. he said perhaps i did, perhaps i didn't you know, that does not indicate very strongly that the president is willing to say that he did definitely take that test before the debate last time as required you can imagine the next debate getting hung up on a similar issue. if he is not willing to take a test or release test results, biden could be pulling out but he has tested negative several times, so perhaps he will be willing. but there is an issue whether he did or did not take a test last tit time >> all right, you and i both staying up late and regretting it this morning. thank you very much. for more on the race to the white house, we're joined by
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florida state rep and statehouse speaker will weatherford and also matt bennett, former deputy assistant in the clinton white house. will and matt, thank you very much matt, i'll start with you. thepolls are looking good on the democratic side here what would you expect would be job one in the democrats were able to not only take the white house but the senate as well >> the problem coming in after donald trump is that job one is a very long list but without question job one will be to deal with covid it was the first question joe biden got last night, he handled it i thought quite well. and what we're seeing is -- >> hey matt, what power does the federal government have over a virus? >> well, has no power over a virus, but a lot of power to do things you can use the defense protection act to make sure that
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we have what we need you can ask governors to issue or are as biden put it local officials to issue mask mandates you can -- >> but matt, sorry to push back, but matt, matt, sorry to push back, we're a federalist republic this idea that the executive branch can control a virus, i'm not defending president trump, i'm just curious, 1968, 1957, 1918, we've had many other pandemics. where has been a great -- give me an example of a great reaction by a president in a time of pandemic by the way, the definition of pandemic means uncontrolled global spread of a disease >> sure. i'd be happy to. ebola where you had a very competent person put in charge of the federal response to ebola and we had exactly one person die in the united states because the government -- we had a whole government response, we had the cdc and the fda and hhs and --
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>> you're comparing ebola to covid? >> they gathered effectively to take on ebola. i'm not saying it would be easy, it would be hard no country in the world has had an easy time with this, but we could be doing much better than what we've seen with trump which is chaos and denial and stupidity pretty much down the line >> fair enough, but i don't understand what the white house -- anyway, will, so matt says job one is going to be a pandemic response. by the time that whoever is in the white house in january, whether it is biden or trump again, we'll have the finish line in front of us on this pandemic history says that they last twef12 to 16 months so the finish line will be upon us. what should be job one of the current or new president on january 20th >> thanks for having me on there will have to be a stimulus bill and ideally it will be one that deals with a lot of the issues that are facing our country.
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we live in a very partisan era, so congress has been unable to come to an agreement probably between now and the election but post election typically regardless of which party that wins, that first 12 to 18 months is a very productive time if we can call it that in congress and so i think that we'll see some real movement on that issue and probably several others like infrastructure and potentially health care. >> is the gop foolish not agree to a stimulus plan because if they don't do something, and we need it, if they don't do something, you know what will happen then if the democrats get in and sweep, if there is a blue wave, that stimulus could be $5 trillion or $6 trillion potentially and have a lot more stuff in it. what do you think the gop's receiticence is it get somethin done and to use matt's word, is did you stupid >> an interesting point. there are a lot of conservative
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republicans that don't like the idea of any stimulus so frankly, they are happy to see it at the time kicked down the road and if the democrats do take over in a clean sweep and they pass a $5 trillion stimulus bill, they will have to own it and republicans will then turn the guns on them and say look how fiscally irresponsible they are. so i think that there is politics being played here the republicans already passed a bill that was probably larger than they wanted to be, they don't want to eat a second one just goes back to the blame game and shows the dysfunction of congress and where we are today in society >> all whirl milliowhile millio it, we have a fl take and leisure hospitality depression millions of hotels, restaurant, airlines, they may not go back to work for months, quarters, years if ever if their business upho upholds. what should be the key parts of any stimulus plan that is
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passed >> first of all, i agree with will stimulus will have to be big and it will have to come very quickly because as you point out, we're going to have 30 million people unemployed, we'll have a homelessness crisis. there will be millions of families put on the street because they are unable to work because of this depression as you put it there will be a hunger crisis. so job one will be getting money into the hands of people desperately in need of it and who are unemployed for no reason other than we're grappling with this horrible recession. and the other thing that we'll need to do is get stimulus money into the airline and other industries that are directly affected by the pandemic response and then ultimately we'll need to start to respond in larger more systemic ways with a big infrastructure bill and other kinds of spending that can help get us out of the recession. but immediately we'll need to rescue the people who congress
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right now is unable to get its act together to help >> matt, do you believe -- a follow upand then back to will matt, right now the polls are suggesting that biden is likely going to win and we could also have democratic control of the senate, the blue wave if you will if the polls are correct and we get that, would you believe that the administration will push for a much larger stimulus plan that may have things in it like medicare for all, infrastructure, paying off student loans, $5 trillion, $6 trillion, is that possibility? something that would fundamentally reshape the way that we govern and spend >> well, no. first of all, medicare for all is not a possibility joe biden could not have been clearer about this for the last 18 months of this cam parngs he has been saying he is opposed to
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medicare for all that is not happening. but i do think a lot of the deferred maintenance that we've been putting off for years on our roads and bridges and ports could get funded because we'll need a big stimulus response to this rehe session. recession. so i think that there will be spending, but not a a pop lick tick spending that t apocalypti that the republicans are talking about. >> and probably $2 trillion to $5 trillion depending on certain outcomes how do you invest around it? do you just keep buying stocks it will be a huge boost to the economy with fiscal still husband which should unfortunately probably just widen the inequality gap because it will send money to people who already have assets like stocks and bonds. >> yeah, it appears the market is kind of buying into the polls and thinking that this will be a clean democratic sweep and if that happen, they are
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betting on the shorm terbe ing short term infusion of the stimulus package but some of the tax cuts will get rolled back. and so there is some cross currents here. there will be some short term stimulus, i think the markets will respondfavorably to that. but when you look out 18, 24 months and you recognize that there will be more regulation and higher taxes, there will be a retrenchment so interesting to see how the market rectifies that. >> so short term a lot of fiscal stimulus, but probably just exacerbate it because you get help to the people who need it, which is good, but it will probably boost risk assets like stocks that continue to widen that gap and two weeks to go, it has felt like 16 years until we got there. will, matt, thank you both for having a civil rational and intelligent discussion on this
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topic. we appreciate it coming up, the stocks you got to keep an eye on including a luxury retailer getting a boost despite economic worries on a macro level dow futures down 22.
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robots, surgeons and louie vuitton handbags
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but not together but that would be really weird those are just some of the stocks to watch today. rahel solomon is back. hope they are not the same story. >> don't be judgey678, they coud go together. and there are fewer shipments of robotic surgical devices, results however still beat forecasts and the company says that the number of surgical procedures has recovered to about 90% of pre-covid levels. and shares of lvmh are higher in europe after the luxury goods maker reported third quarter sale company behind louie vuitton, mark jaob jacobs says that theyw positive growth. and hewlett-packard is higher as the company raises its guidance
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for fiscal 2021. citing the ongoing need for secure connectivity. does it surprise that liquor sales of cognac are up >> i don't think it is a surprise that anything is happening the way it is at this point. honestly, you could tell me that sales of cognac and long socks and, you know, bikes, anything you want is up, i get it because 2020 >> this year is like that episode of seinfeld, bizarro world. what is left is right, what is up a down. nothing makes sense this year, so yes >> bizarro jerry i think is what they said. just did the exact opposite of every instinct you have. all right. on deck, your next guest says t
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see saw action is set it quinn joe quinnly standing by with how we should and a half gate the volatilitity and sign up for the financial summit, visit cnbc summit to learn more and renlgt sister it is october 20th and by the way, you get your financial adviser annual credit. so if you are an adviser, it is not only cool, but it will help you save time. so tune in (vo) i'm a verizon engineer and today, we're turning on 5g across the country. with the coverage of 5g nationwide. and, in more and more cities, the unprecedented performance of ultra wideband. the fastest 5g in the world. it will change your phone and how businesses do everything. i'm proud, because we didn't build it the easy way, we built it right. this is the 5g america's been waiting for.
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let's wrap it up here by talking about the markets and your money your next guest says that the selloff in september may have been due to an overly short term p perspective. joining us is joe quinlan.
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can you blame investors? i mean it is a nervous time, it is highly partisan there is a lot of all caps riding and loud noises being made on a variety of things. and by the way a pandemic. blame people for being a little quick on the trigger >> not at all. our clients are exhausted by the news flow, what is happening, the number that are coming out they have been whip sawed by the fact that we had the lackdown and then we saw the markets fight back up. so a crazy year. but we're looking at the fundamentals you look at earnings, growth, fiscal spending, we're still very much constructive on equities >> and what is the primary thesis behind that, economy, stimulus, lack of stock, there is no alternative?
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>> all the above but in particular, look at the imf. dw deficits don't matter anymore. so we'll see more spending it will be directed at health care, robotics, automation, 5g, renewables, solg l s solar. so there is a big wave coming. and overlay that with the fact that cap ex spending is also kicking in so a lot of opportunity in and around the private public investment surge that is under way. >> and what is the bare case if you had to flip it, i'm sure you get questions from clients and colleagues, what is the bear case if you had to make it >> the bear case is two fold that covid-19 not only there is
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a second wave but it is even more dramatic, it is out of control and we have to lockdown. i don't think that we'll lockdown second wave, not a second lockdown but if we let it run for too hot too long and we have to take the hammer out again like we did in march and april, that is number one. number two, the vaccination doesn't come as quick as some people think maybe if we start pushing on the vaccination story to '22 just because of reality, i think that weighs on the markets a well everything else i think it is just muddling through, push through. but we have to come out of the pandemic and see the light at the end of the tunnel. >> and so stimulus means trillions more in debt any reason to own bonds? >> you need the balance in your portfolio, but you need to be careful here yes you have tocomponent
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you can get greater yield out of the dividend paying stocks, but lower for longer is the mantra so leads you back to the dividend paying large capitol u. cap stoks is where we see opportunity and safety >> joe, appreciate it. you have a great weekend and folks, it goes like that, doesn't it that does it for that here on board wide exchange worldwide exchange hope you have a spectacular wkekend. squa and the gang picking it up next.
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good morning futures are flat relatively after a three day losing streak.
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but the dow yesterday closed down less than 20 points we'll have a closer look at three big issues for the markets to deal with straight ahead. president trump and former vice president joe biden making their case to voters as we enter the home stretch for the 2020 election we'll show you what they said about the economy, taxes and the global pandemic. and twitter under fire, the senate plans to subpoena jack dorsey meantime the platformsuffered widespread outage. what will happen on election night if they can't handle two town halls it is friday, october 16, 2020, "squawk box" begins right now. ♪


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