tv Worldwide Exchange CNBC October 9, 2020 5:00am-6:00am EDT
hospitalizations up. hurricane delta getting bigger and stronger. louisiana could be in for a world of hurt all over gevenlt delta now a cat 3, expected to make landfall tomorrow night. and now you know the news for this thursday, october 8th i'm eprd it is 5:00 a.m. in new york and here is your top five at 5:00 investors pouring cash into one nearly forgotten group of stocks, will this be the sector that makes you the most money long term. futures are higher, congress making a slow creep toward finalizing a new round of taxpayer relief. bracing for delta, the gulf coast preparing for yet another major storm in an already hard hit area, a live report from the region coming up cutting through the noise, we speak with a scientist from johns hopkins on what we've really learned about the coronavirus since those
terrifying early days and with it a reason to be hopeful. and president trump saying nope to the virtual debate he wants to get back on the road it is friday, october 9, and this is "worldwide exchange" right here on cnbc ♪ everybody's working for the weekend especially wants a new romance ♪ >> with all due respect to lover boy, no, we are not. let's all agree, you and i, i'm looking at you, it is 5:00 and we're not working on the weekend, we're going to rest and i'm going to sleep all weekend good morning, good afternoon, good evening and welcome happy friday, even i'm brian sullivan let's kick it off with stock futures because they are higher. dow futures up 96 points, the major averages all coming off their third positive session in the last four. and the dow quietly on track for
its best week since early august and file this under you can't keep a good market down. the dow transports higher once again yesterday hitting yet another record high, that index up more than 4% since monday trucks and trains use a lot of fuel, so let's keep an eye on crude oil, up another 3% yesterday. leveling off right now, still around the $41 per barrel mark more on stocks in a moment, but breaking deem news overseas. karen cho is in our london newsroom >> 4.3 euro he sale of borsa, more than what was originally muted. so fairly hefty price tag that has been paid. and the other deal said that they did not want to rush the
protest. it dubbed this particular transaction with artistic name the motivation was it need the to clear eu approval where it has a tie-up with refinitiv. and borsa is the largest exchange in italy and literally is one of the largest bond markets in europe. but let's just take you to what we're seeing on the stock market reaction because euro democratic ne democraticnext has slipped some of this down to the price tag paid, the london stock exchange by comparison moving higher in the session. if you think about what is playing out in terms of regulatory issues, when you talk about the sale of an exk45iexch some of these come to the fore eu
eu eu eu euronext saying that central functions will remain in milan but they are hoping that the deal will boost its earnings saying that it expects that synergy, and that is a big one with deals of this side, 60 million euros, so we are seeing some positive euronext but clearly this has been the motivation >> karen, thank you very much. all right. let's talk more now about these markets. the major averages up three of the last four sessions and one group of stocks making a rather surprise fourth quarter push but your next guest is calling for caution as we and a half gate throu navigate through the rest of the month and the year matt millie is joining us. good to have you back on
there was a story the other day that one small cap etf, the iwm, took in something like a couple of billion or a billion dollars just on wednesday. small caps have outperformed do you believe that we are sort of finally seeing this rotation? everybody has been talking about it from the names we know into the names we don't >> well, the next week or so will be vitally important for the rest of the year because as you mentioned, i'm cautious a little bit here about this round. let's face it, the market is very expensive is still, maybe slightly less expensive than it was the beginning of september, but very expensive so people need to be careful however, we're in the fourth quarter of the year, institutional investors if the market keeps rallying, into matter what they think of the long term value of the marketplace, they have to be in the market and that could push things higher. so what i'm looking at are groups like the russell 2000
if it can continue to rally and see -- because this part of the rally is starting to broaden out a little bit which is bullish. so i'm watching that and the chip stocks which have been a great leading indicator we might see a little breather the next day or two, but if they can rally further as we move further into october, that will be bullish for the market at least between now and the election >> here is sort of the dirty little secret of the rally that we had coming off the lows in march. you and i have access to programs where we can look at every single stock most people just look at the averages and they say good day and we had plenty of days where maybe 90 stocks out of 500 were in the green, 410 were down. but those 90 were big enough that the average was higher. now would he starting e're stars where 400 are up and 100 are down
>> exactly and that is a big difference even early in the bounce off of the -- the selloff that we had in september and that is a bullish sign yesterday in the s&p 500, it was 6:1 positive not a blowout number, but positive and much more positive than we've seen -- sorry, we've seen it in all the updates this week so this is something that has got me -- like i said, when we get past the election, i'm a little bit more concerned than a lot of people no matter who wins in the market continues to rally because i think that the covid situation second wave will be bigger after the election than now. but it doesn't mean that we can't rally between now and then especially because momentum is such a key player in the marketplace right now and its breadth is widening out. if we can see the rally pick up -- see a pickup in volume, those internals will actually be positive so cautious longer term, but near term definitely has up side potential.
>> what looks attractive to you, just small caps or is there something else on your radar >> one of the biggest inks, everybody is talking about rotation i think that people who think about for the short term and the longer term, again, i'm a little worried about what will happen with the second wave as we get further into the colder weather and that could slow things down. so going to some of the value names or some of the economically sensitive groups, a little bit lessen ticing to me what i like is rotation within the tech sector. yes, these great companies are still great, but still overvalued, still overbought on a longer term basis. you can pull back a little bit on those but going to some of the industrials, start looking at the chip stocks as i mentioned, cloud computing names. it is still early innings. so a long way to go there. you don't want to completely dump all of your apple computer or amazon, but if you pair it
back a little bit, still look to other part of the technology sector because that is the future of our economy no question about it. >> they say you never lose money by taking a profit on the stocks that you have gained in and most people certainly have done just that matt maley, great guy and a man who always knows what quarter it is in a football game. that is a tom brady comments matt, thank you very much. now to the campaign trail. election day now just 25 days away and the president saying no way to a virtual debate with joe biden. this as the president's doctors prepare to give him a clean bill of health. tracie potts has more on that. good morning >> reporter: hi brian, good morning. yeah, the president has plans already for the weekend starting tomorrow, more campaigning we'll tell you about that. but the trump team is frustrated with the presidential debate commission, they said that they didn't reach out and talk about
the president's health situation before they decided on their own to go virtual with this debate the president doesn't want to do it he said he says he might take a covid test today, but so far we've yet to see a negative one even though president trump is insisting he is not contagious >> the doctors today tell me i'm in great shape >> reporter: and he can come out of isolation tomorrow ten days after his diagnosis. >> we want to do a rally probably florida saturday night. >> reporter: he is refusing to attend next week's debate, now virtual since the president was infected >> i'm not going to sit behind a computer screen. i don't think i'm contagious at all. >> reporter: he is urging to push the debates one week but do them in person >> i'm sticking with the dates, i'm showing up, i'll be there. and if he shows up, fine if he doesn't, fine. >> reporter: we still don't know when the president last tested negative indicating who else may have been good opposed
at least 27 people connected with the white house or his campaign have tested positive. the president wants the debates and the stimulus talks delayed house speaker nancy pelosi is rejecting his demand to deal with covid relief piece by piece. >> let me be really clear. i have been very open to having a standalone bill for the airlines or part of a bigger bill but there is no standalone bill without a bigger bill. >> reporter: today pelosi is introducing a measure to create a 25th amendment commission to decide if the president is fit to serve and that cluster of coronavirus cases connected to the west wing, it is getting bigger now a fourth member of the press has tested positive. >> best wishes of course to all of them. statistics say that they will be just fine, but we're rooting for everybody out there. tracie potts, thank you very much when we come back, much more
on those on again/off again stimulus talks that you just heard tracie packing about ylan mui will have the latest play by play and maybe punch by punch. and the good folks down in louisiana just can't get a break, hurricane delta bearing down we'll bring you a live report from the region. and could it be a sign that we've reached peak spac? you won't believe the team being assembled to take on the sdtatu quo. and dow futures up about 100
welcome back semiconductor stocks, tiktok and former nba all-star, just part of the top stories bertha coombs is here are those. >> advance micro device is reportedly in advanced talks to buy xilinx in a deal that could be valued at $30 billion the deal which could mark the latest tie-up in the semiconductor industry could come together as soon as next week meantime the justice department is appealing a ruling that
prevented the u.s. government from halting new downloads of the chinese owned video sharing app tiktok this is as negotiations continue, but key terms of the deal including who will have a majority stake remain in dispute. and three former high ranking disney executives are teaming up with shaquille o'neal and the eldest son of martin luther king jr. to form a new special purpose acquisition company, or spac as they are known, looking to make deals in tech and media along with shaq and king, tom stags will serve as chairperson of the committee kevin mayer who most recently of tiktok is strategic adviser. salil mehta is tapped as chief financial officer.
and i checked, shaq, is available as a ticker. so that would seem appropriate for the shaq spac. >> how could it -- you got to do it first off, i think we're the only ones left that don't have a spac yet but how could it not be the shaq spac and by the way -- >> exactly perfect. >> and you're a bostonian, very bouche as i tip my pinky and coming up, we'll reconnect with a world famous chef about how the restaurant industry is dealing with trying to stay alive at just 25% capacity
$2.3 billion that is the drop in quarterly arr.dend payments fromin third q2 saw you a $42.5 billion decline. feed a healthy lifestyle, with pure protein. high protein. low sugar. tastes great! high protein. low sugar. so good. high protein. low sugar. mmm, birthday cake. pure protein. the best combination to help you stay fit.
allowed to bring diners back in, but only at 25% capacity so we spoke with a world famous chef who is owner of a four star restaurant and i began by asking him how it has gone one week into 25% capacity indoor dining >> so 25% okay pans is i is very challenging for restaurants. we opened, we have a small team, we are lucky that we have a lot of local patrons coming back and people are taking some good wine and supporting us as much as they can but ultimately 25% is not sustainable. we can stay like that for a little bit, but we need to move very quickly to 50%. >> what% percent of your costs are fixed costs? >> fixed costs will be probably about 60%, something like that
>> so you are trying to do 60% fixed cost on a 25% capacity budget >> yes that is the mogd rigdel right n. and it is why we are losing money. and we also invested a lot of money for safety and we created a certain protocol to ensure safety for the client and the employees and the purveyors that are dealing with us. >> new air ventilation systems, i saw you were doing that. what does something like that cost, eric >> i cannot tell you the cost really because it depends on i guess the client but however, it is something that is definitely a big investment we have that in the kitchen, the machine is killing basically the virus. in the dining room, everywhere in a private event we have the machine that has been installed. >> so you are one of the most well-known and respected chefs in the world
also the most talented you can do that because of your success over the years for the average restauranteur in new york, they probably can't put that kind of monday in and ha -- money in and have 25% capacity glp capacity >> a lot of restaurants are challenged, they don't have the luxury to have money saved to create this protocol and reopen. a lot of them are not reopening at all, some of them are very challenged and don't know when they will reopen and it is not easy right now the industry is definitely extremely challenged >> and we're going into colder weather. who have you been talking to in the city we have congress in a stimulus fight. you can talk to them directly. members of congress watch cnbc all day long what are you saying to the city, what are they saying to you, what would you like to send a message to the government about how the hospitality industry is doing and what you need? >> what i'm saying to the
government and whoever is listening is that we need some help we need the government to move forward to support for the restaurant industry to be operating at the maximum capacity that is safe for the clients and employees. >> have you noticed a reluctance among people to come inside and eat? it doesn't sound like you have it sounds like people feel safe and they are doing it. >> yes we are actually surprised by the clients to the fact that we are open they are very eager to come and have an experience and to splurge. and i think what is very important for the clients, to know that they are in a safe environment and know that the money that they are going to
spend, it is for something very special, they want quality for the money. >> and also the work you do with city harvest, let's be clear busted food insecurity, a lot of kids still aren't in school, a lot of kids get their food at school a lot of food waste. and you've done a lot of great work with world central kitchens, chef jose. what is the status of city harvest and the ability to get food to millions who need it >> city harvest is very busy right now. since the beginning of the pandemic, city harvest delivered more than 85 million meals of food and we think that we can go up to 100 million pounds of food in the five boroughs and we also work with world central kitchen in new york bringing cooked meals to population in need as well so those organizations are very busy and need help and support
and we are basically in collaboration with them to make sure that we can help the community in need. >> once again, our thanks to them talking to us about the challenges that the industry is facing and that was the last place i had a meal inside in new york before the lockdown. and hopefully will be the first place i have another meal inside ahead, back to d.c. and how close the two sides might be to yet another $2 trillion taxpayer funded relief package. and cutting through the noise, we speak to the johns hopkins scientist about what we really learned about the coronavirus since those terri terrifying early days and perhaps a reason to be hopeful this friday.
markets, momentum rolling on despite the stalemate over ongoing stimulus talks and now seven months after the early terrifying days of the virus, what exactly have we learned about it johns hopkins scientist here helping figure it all out, reasons to be hope until florida and stuck and another confusing week over stimulus. we're live to d.c. with the latest round in this trillion dollar brawl the sun is not yet up over the
capitol, only 5:30 on october 9. ♪ >> danger zone, top gun who knows. welcome back, everybody. happy friday here is how your money and investments look right now stock futures, they look like a jet. up about 102 points right now. major averages saw gains on thursday, dow, s&p and nasdaq posting third positive session in four on pace actually for one of the best weeks since early august and yet another all-time high for one economically sensitive group and that is the transports you can't stop the trucks and
trains lately. you've also got to watch the mighty nights, the smauld csmals we talk about them benefiting from rotation out of bigger name stocks and many of you are apparently listening according to data from bloomberg, the iwm brought in more than $1 billion on wednesday alone. that iwm is now 8% in october doing far better than the larger averages look at that run from small caps something to watch time now for our weekly insider mind hit list, something that you will see only here on "worldwide exchange," the five stocks with the most corporate insiders picking up shares with their own money. these are not buybacks, these are individuals buying equity of their own companies. fifth most, mission produce. director there buying $200,000 fourth, carmax, a board member buying for the first time ever,
cramer loved this stock because nobody wants to take mass transit. third most, amazon director and former pepsi ceo buying $318,000 worth of that equity and the second most insider buying, a new ipo called pulmonx, ticker lung a board member and other backers exercising their right to buy on the open market and she did to the tune of $500,000 and the most buying by corporate insider, liquidity services. ceo buying $9 ing $725,000 he has compiled about 20% of the stock. he is not afraid of the high price. shares already up 125% in six months clearly the ceo not worried about it our thanks to score.com for the
data that these insider buy stocks continue to outperform the broader market, they are up on average 56% in six months. nancy pelosi and steven mnuchin speaking yesterday, and the white house sending mix the signals on what it wants to do with millions of americans remain in limbo over potential aid. stimulus talks may need stimulus of their own, ylan mui >> after everything that has happened this week, the trump administration is now signaling it might be open to a deal with democrats after all. the white house communications director told reporters that the president could be open to going big her, but that the democrats $2.2 trillion price tag is still a nonstarter
as you say, treasury secretary steven mnuchin and nancy pelosi have still be in touch almost every day. yesterday they spoke over the phone twice, including about ways to help small businesses. but pelosi has been adamant that she won't accept any kind of skinny deal. >> this is deadly serious. so let's take a serious not a skinny, not an emaciated, but serious appropriate approach to crushing the virus and then talk about some of the other good things that would flow from that >> meanwhile republicans are trying to figure out exactly where their members stand. two gop senators came out against additional aid for the airlines yesterday and there is growing fears about how much this is all going to cost >> of course i think that we ought to act again but when you got a debt the size of your economy for the first
time since world war ii, it is not an argument for extravagant unrelated spending >> brian, i cannot predict where this is going to go next, but as you highlight so often, a lot of struggling businesses are waiting to find out how the saga will end back over to you >> yeah, i mean that is it really we've said, there is a recession for many, but there is a depression in hospitality, travel and leisure they are basically closed down and it is not their fault, they were closed down by the virus and government or whatever combination thereof. if we do get a deal, do we have any idea what might actually go into it? >> well, that is a good question because we started with only aid to the airlines. that is what president trump had initially tweeted. then we added on direct checks then we added on money for small businesses pelosi said yesterday she needs to see money for school,
unemployment insurance, workplace safety, state and local funding. that is remaining a key issue. and when you add all of those things together, suddenly we're talking about a big comprehensive deal which is where this all started >> all right ylan mui, you got your work cut out for you as always. good luck. have a good weekend. all right. from transmission rates to weekly averages of hospitalizations, there is a ton of data out there. the knowledge gap about the coronavirus remains daunting, but scientists are working to change that, including one group using super computers combined with new level genetic analysis. helping cut through the noise is dr. christopher bradburn at johns hopkins, and just to be transpare transparent, long time good personal friend of mine. and you are the first person i met in biology class in high school, chris, good to have you on the program you and your team are doing some
amazing work with the virus using global teams of super computers in tennessee and elsewhere. since the early days, when so little known, what have we learned about this virus >> thanks, brian, for having me on and i'd just like to say that it is not so much me and my team as much as the community doing this work since we first came upon sars covid 2, we learned a lot about the genome structure and it was nice that we had already sars covid 1 out there and we realized what it looked like and gave us good reference early on we learned pretty quickly what the risk factors were for dwrout comes. things such as obesity and smoking, type 2 diabetes and those sorts of things.
and as everything has moved forward we've learned a lot. >> and we've been talking the last few monthsi incredible execucomputing power. you said it was a billion calculations per second that is being thrown at this problem and that is one reason why we have really started it seems any way to figure it out and may be getting closer to a vaccine faster because we have data so sch da much data at our fingerts >> yeah, once you have a whole lot of data, you need to be able to process it.
it is really starting to be able to assess and connect them and look for correlations and you can start to find things like how people respond at a genomic level and tie it back to environmental data one of the things that we do at the johns hopkins physics lab, we've been sort of the backbone and the data pipelines behind the covid backbone that is well-known and one thing that they are doing at oakridge, using a lot of that data to try to connect to outcomes, try to connect to go gnome ic responses so the computer power thrown at that system is really phenomenal >> and what you said early, i think that it is so important, because there have been a lot of questions about the vaccine,
rushing them through, and you don't have to go down the vaccine path, but you noted that because this is a mutation off sars clchltov 1, it that ehas e husband to be faster, it has not mutated as much as some feared or thought >> yes, it is mutating much slower than other viruses like influenza or hiv and along those lines, this one seems to be acting like a lot of the other coronaviruses. the real problem is the number of chances that it is having to mutate, what the data is showing so far through sort of a global efrlt to seffort to sequence and categorize, that it is, you know -- it is mutating slowly, but there are a lot of mutations
that are actually being fixed in populations. there have been roughly 12,000 mutations as of about a month ago, but it doesn't mean that each of those lead to some outcome that might be deleterio deleterious. in fact there is hardly anything that has been deleterious. >> chris, we've known each other for 30 years you're used to be interrupted. is there a reason to be hopeful? >> absolutely. i think that there is a reason to be optimistic because we have such a huge network of people working on this. we have such a focused effort to try to come up with vaccines and treatments because we hahave power being thrown at this, there is a lot of reason to be optimistic
>> doctor -- still hard -- i won't call you dr. bradburne in our personal life, but it was a real pleasure. you've been a great source of this for month and proud of the work that johns hopkins and around the world are doing to keep us safe appreciate are it, buddy >> thanks for having me on coming up, the latest on another kind of storm, hurricane delta. residents along the gulf coast bracing for yet another hit. we're live in the area that just can't get a break. and first, warner media preparing to slash thousands of jobs, that according to reports of the move which will happen in the coming weeks all part of a broader restructuring to cut costs by as much as 20% of course due to, what else, the outbreak. shares of nxp on the rise
after the company issued stronger than forecasted revenue guidance for the third quarter saying that it expects the figure to come in at $2.26 billion. and more bad news for the box office, pixar's new movie soul will be by passing theaters all together, set for september november 20th release for disney plus members for $29.99 on christmas day.
residents all along the gulf coast of mexico are bracing for the impact of yet another powerful hurricane delta set to make landfall later today and bring with it destructive storm surges, winds, flooding brain and jay gray is joining us from la fayette, louisiana. this area still recovering after being ravaged by hurricane laura just weeks ago >> reporter: yeah, six weeks ago we were here and just a bit to the west in lake charles and now in la fayette and here we go again, four major named hurricanes making landfall in louisiana during this season, that ties the record we're along the banks of the vermillion right here, the river that runs through the center of la fayette this time tomorrow, the area will be under water, no question what we're see position right now is a bit of a spitting rain and really just a light breeze that will all pick up
dramatically though over the next several hours as the storm starts to move in. there is a curfew in place starting at noon and it will go downhill into the evening when the storm makes landfall >> jay, like you said, you were just there albeit a little further to the west. are you still able to see signs of the previous storms we had reports that people had their roofs ripped off and they aren haven't had time to put a new roof on and now this massive event. can you see the impact of the previous storms? >> reporter: clu >> reporter: absolutely. there are blue tarps across the region any work that has been done, people are worried that that will be torn apart by this storm as it moves through. we're talking about landfall that may be 15 miles or so to the aets of where lauwye east oe laura made landfall.
so it is really for all intents and purposes the same area and you have mounds of debris, splintered wood, twisted metal that will become rprojectiles. think about it for this area, they have had to deal with so much and they will tell you, they are just plain tired they have storm and covid fatigue and now they have to deal with delta. it is just a rough gov and it will be the next 24 to 48 hours. we're right in the center of that projected path. >> and by the way, that area also dealing with the collapse in the oil and gas business, it is a consumer and hospitality area as well with hotels, casinos. they are getting hit from all sides. these are good salt of the earth people that can't catch a break. >> reporter: yeah, it is overwhelming and you are right, you make a great point there, there are a lot of people here who are going through all of this either are
having lost their job or very worried that their job is going to go away and that is across the board and i know a lot of people are dealing with that across the country right now. it is a rough go but here they have had to deal with three previous storms, now they have another hurricane churning out there that is a major category 3, and once that clears through, where do you go? you've just finished cleaning up action you have to start the process again. you feel for everyone down here. >> yeah, and only the second time since 1851 we've had 25 named storms in a season jay, you guys be safe down there. we showed the radar, it is a big one. thank you very much. on deck, is there four years left in the stock bull market? some people say it should come to an end now. and did you miss all the action at the delivering alpha
normally on fridays we skip the rbi, but not today because today it has to do with a favorite dinner table story i like to tell well, when we had dinner parties. i asked people when were your grandparents born and if they are still alive. being middle age, most of my friends think i'm nuts but would you believe until last week, there were two men alive, brothers actually, whose dad was born in 1853 that's right and their grandfather was a
president, president john tyler, tenth president, born in 1790. he had his 15th child when he was in his 60s that child was a son who then married late again and had two kids when he was in his 70s. and those two sons were both living until recently. lyon tyler died september 26 at 95 leaving his brother harrison alive. that's right harrison tyler, who was alive and well, was 7 years old when his dad was -- was 7 years old when abraham lincoln became president and his grandfather born in 1790 rest in peace. pretty amazing back to the markets. stocks looking to close out the week on a positive note, futures are higher on pace for the second straight week of games. jeff, i get i could ask you
about the john tyler trivia, i think that it is simply incredible that their dad was wo born in 1853 and apparently went to lincoln's inauguration as a child. but that said, you have a different historical statistic for us you believe even though we're 11 years in to this bull market we could have another four years to go some people aren't giving it four weeks or four months. >> yeah, those same people have been saying that for the past five or six years by the way secular bull markets tend to last 15 to to 20 years 1949 to 1966 secular bull market, the 1982 to 2000 secular bull market lasted 18 years. and there is not many of us left that have been in this business long enough to have seen a secular bull market. so every time the market pulls
back, people say that the bull market is over, we're going into a bear market and i don't believe it i think that we've got another four, five, six, seven, eight years left in this thing >> in fact, even to that point, as we all get older, i would probably guess that 30 forc% to% of wealth advisers weren't even managing money during the financial crisis if you are 33, 35 years old, you were not running money -- hard to believe time has flown that fast and you got a call from one of our favorite guests, amy zhang has been on this show many time, one of the top rated fund managers in small and mid caps apparently you guys are talking this rotation looks like the real deal this time >> yeah, amy zhang is a
spectacul spectacular mutual fund 34g man, she is wicked smart. yeah, she and i talked last week as a matter of fact. and she is bullish and so am i i think stocks will go up. >> there was a report in bloomberg that on wednesday $1 billion went into the iwm russell 2000 small cap etf, a billion bucks in one day into small caps, the most ever recorded are you a believer in small caps >> i do believe in small caps. i mean, the out sized returns tend to come from small cap stocks because they have the best growth characteristics in terms of earnings. you know, we manage hone we manage money in basically small, mid caps and even in large caps >> is there wong part of there e market that you are scared of,
that you think is ripe for a fall >> no, i think stocks are going up i think we're in a secular bull market they last 15 to 20 years and again, there aren't many of us old enough left around that have seen one. >> well, if stocks do fall, you got to bring the mustache back jeff, appreciate you coming on, buddy, have a great weekend. that does it for -- i remember the stash. squawks inext have a spectacular weekend, everybody. ♪ you can go your own way
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after yesterday's 122 point rise following the previous day's big gain back on the campaign trail, president trumped could resume rallies this weekend his doctors say his treatment is complete and tomorrow marks ten days from his covid diagnosis. and new reports say that $30 billion chip deal could be in the work, we have all the details. it is friday, october 9, 2020 and squawk box begins right now. good morning, everybody. i'm becky quick along with joe kernen and andrew ross sorkin. and as joe mentioned, we are looking at a higher open this morning after the gains that we've seen the last several sessions yesterday the dow up by