. it's 5:00 a.m. on wall street here's your five at 5:00 wall street pointing to a big jump at the open following yesterday's 400-point gain for the dow. we'll find out what's driving the turnaround facebook shares shooting higher despite a slowdown in user growth. we'll dig in on the quarterly earnings. a fresh sign that china's economy is slowing janet yellen is raising the red flag on the u.s. economy we'll bring you her comments and shares of arconic jumping on some deal chatter

full details ahead it's wednesday, october 31st "worldwide exchange" begins right now. ♪ good morning welcome to "worldwide exchange" live from london i'm wilfred frost sitting in for brian sullivan let's get to the early market action for you futures are pointing higher. a decent bounce yesterday. we saw markets close significantly higher after what has been a wild ride during the month of october for markets called higher by 165 points or so on the dow. the nasdaq higher by 79. the s&p by 21. yesterday we were up 1.6 for the s&p and nasdaq, 1.8% for the dow. this is the last trading day of the month. markets very much lower. 6% lower for the dow 8% lower for the s&p

nasdaq down 11% for the month of october. it looks like we'll end on a positive note. facebook shares are higher the social media company reported a mixed set of numbers. but profits topped expectations. revenues and user growth did slow we have it up 3.4% in after market trade let's dive in to those numbers on the cnbc news line. victor anthony joins us. good morning to you. thanks for joining us. clearly the headline revenue disappointed a bit the operating margin, with all the focus we've had over the last six months or so on costs, that did come in lower, 42%. it could have been worse than that is that a good summation what did you make of that operating margin >> overall the report wasn't as bad as some bearish investors

had feared i kept seeing a headline it was a revenue miss it was a slight revenue miss the eps was above. it was also a much lower tax rate than investors were expecting. that led to the eps beat user s increased overall, which is a contrast from other social networks like snap and fwrtwitt. the guidance for revenue growth in the fourth quarter was better you look at the 2019 expense growth, that guidance was within investor expectations. there were some investors fearing they would gear up for sig can significantly higher expenses. facebook expects expense growth to be more in line with revenue growth for 2020 so 2019 looks like a peak investment year for facebook that's why the stock is up in

the after hours. >> does that mean all of the focus on political issues, data privacy issues for the stock price at least are now behind them >> it's not. i think it will be ongoing i think it will be ongoing for several years. they are investing aggressively against that i'm confident they now -- you see the writing on the wall. they have to invest. zuckerberg was explaining that on the call last night there will continue to be bad actors on the platform, but they're investing aggressively he admitted they did not invest as aggressively as they should have in the past but that expense guidance ultimately i think will adjust for that >> a lot of focus now on whether they can successfully monetize instagram stories and whatsapp which traditionally are not sites of advertising what's your view on whether they

can be successful in that area >> i think zuckerberg highlighted that on the call last night he talked about including messaging apps, monetizing the whatsapp, monetizing messenger this is the first time i think they really highlighted those opportunities. as well as instagram we talked about instagram continuing to grow strongly, and it is up for them to monetize video on instagram and stories in particular. there's a huge discussion about stories. usage is moving over to stories on facebook and instagram. it moved over to instagram faster than on facebook. so they're playing catch up in terms of monetizing user growth on stories but they're optimistic they can do so. so we're seeing essentially a repeat of when they moved over from desktop

so that's a good growth opportunity for facebook and instagram as well. >> victor, final question for you, sum it up for us, what your view on the stock now? that the pullback since earlier in the year been sufficient? will yesterday be the market low? >> it depends on the overall market volatility. i expect that to subside by the end of november. you're looking at a stock that trades ten times around market ebita. so you're getting at a significant discount, you're getting user growth. potential for revenue growth there's multiple different platforms, whatsapp, messenger, there's an e-commerce platform, a jobs platform. i think the outlook for facebook is extremely bright. i would be buying this stock at these levels

>> victor, thank you very much for joining us victor anthony of ae fwshgsgis . facebook is up in the premarket. green arrows across the board in asia. the bank of japan keeping rates unchanged. the nikkei jumping more than 2%. hong kong up 1.6 china up 1.4 china's market holding up despite a fresh sign of economic slowdown let's get to eunice yoon who has all the data and details for us. hey, eunice. >> october is the first full month after the u.s. and china imposed tariffs. the official data showed that factory growth is growing at its weakest pace in two years. the numbers showed this, pmi slipped to 50.2 from 50.8 in september. that's a hair short of a

contraction. there's a lot of attention on the new export orders. they show what future business could look like. the sub index dropped to 46.9 from 48. so factories are getting hit by slowing domestic demand and also by the deteriorating afraid teis between the u.s. and china the central bank set the yuan to its lowest level in ten years. that's been sparking a lot of debate here if the policymakers will allow the yuan to weaken past the psychologically important 7 level. stock market did relatively well despite this there was one stock that is not doing so well. that's the stock of wh group this is a top pork producer, it's listed in hong kong the company said its profits are taking a beating because of the trade war. the q3 numbers came in 31% down

from a year ago. that's because of the high supplies as well as china's retaliatory 20% tariff on u.s. pork products. they said the average price of pork in the united states for them dropped by 12%, which did not help them at all the data, of course as well as all of this news adding to worries about the economy and is raising expectations among analysts that the policymakers here will do more to try to stimulate the economy. >> eunice, thank you very much for that we should mention as we shape up for the end of the month, the shanghai index down about 8% for the month of october that's similar to the s&p. the nasdaq having a worse month than shanghai. that's down about 11% for the month. former fed chair janet yellen raising a big red flag on the u.s. economy frank holland has the details of comments she made to cnbc's steve liesman.

>> janet yellen spoke with steve liesman yesterday at the charles schwab impact conference in washington she said more rate hikes are needed to keep the u.s. economy from overheating but is warning there's a risk the fed could tighten monetary policy too much she also spoke about the u.s. deficit calling it a manger problem adding that the national debt is on an unsustainable path she said if i had a magic wand i would raise taxes and cut retirement spending. the u.s. deficit rose 17% in fiscal 2018 to 779 billion following the new tax cuts passed by congress late last year yellen also spoke about tariffs saying she's concerned about the impact they could have on investment spending over the next year. but she only sees a small and temporary impact on inflation. yellen also defended the fed's independence against criticism from president trump she said she would do what jay powell is doing, keep calm and carry on back over to you

>> frank, thank you very much for that we should say the ten-year rose a bit yesterday. it's back above the 3.1% level 3.14%. turning to today's wall street agenda. look for results from yum brands, kellogg and gm before the open after the bell, express scripts and fitbit still many more to come later in the week the likes of starbucks and apple on thursday. we'll hear from gm's cfo later this morning, that will come up at 7:40 a.m. eastern time on "squawk box." on the economic front, we get the latest read on the health of the jobs market with the adp employment report followed by chicago pmi at 9:45 a.m. eastern time. still ahead on "worldwide exchange," trading the turnaround. >> we're breaking down why stocks are bouncing back and how you should position your portfolio for the day ahead. first retail detail.

we're digging in on the sector's biggest winners and losers as we head to the all-important holiday shopping season. stick with us on "worldwide exchange." we're back live from london in a couple minutes and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life.

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$11 billion. that is up 8%. samsung reporting record profits on chips for data centers but the company is forecasting an earnings decline in the current quarter due to seasonal weakness in the memory chip market. yum china posting better than expected results. same-store sales fell led by pizza hut. electronics arts earnings and revenue beat forecasts it released four new versions of its franchise video game in the last period, including fifa 19 the company gave weak guidance for their holiday quarter. it's down 2% in retail news, l'oreal shares are moving higher they are seeing strong demand from asia. cnbc caught up with l'oreal's ceo this morning

>> it's the best quarter for l'oreal in ten years but china is strong. sales are flying, especially in luxury we've seen this now for a long time >> let's bring in stacey widlitz. great to have you here in person >> happy halloween >> you brought me a gift >> i did i brought the michael meyers friday the 13th doughnut for you. something for breakfast for you. >> thank you let's get to the retail outlook. starting on the back of those comments from l'oreal. as we look at the month performance for october, clearly everything is down it's not tech that is the worst sector, it's consumer

discretionary. what's your broad view on that and why such a big pullback despite u.s. consumer numbers. >> the consumer is the strongest we've seen in years. they're out spending in full force, but many of these stocks have taken it on the chin. almost half of these stocks have a short interest, over 15% there's the opportunity going into earnings season here. there's concern around tariffs there's a lot of concerns in retail some of them are overblown certain sectors you want to look at here. >> you like footwear more than anything else, is that right >> yes footwear looks the cleanest it has for a long time for nike and adidas, this is 20%, 30% of their business

even foot locker is looking healthy. my top pick is nike. you're seeing vans out in front, which is vf corp there's some opportunity to pick up a few names there >> in terms of the retailers themselves, the amazon threat has been large in recent years has that been shaken off what are the main beneficiaries of the fight back? >> it's interesting. last year and the year before it was like amazon owned everybody. everybody would lose, but in the last couple of years walmart and target have been investing and fighting back. target announced they'll do two-day shipping for free with no threshold that's a game changer. >> can they afford it, though? is that a margin issue for them? >> it will hurt margins a bit. i think the street expects that but the big deal is they're drawing the consumer back and pulling back in fashion as amazon pushes the pedal in that

sector they're winning that back with their private label business >> whether it's target or walmart, can they all keep up with amazon's wage increases >> it's so interesting there are clearly labor shortages. so kohl's started hiring in june, but so far target said they're hiring 20% more this year, they haven't had problems or have plans to go up above the 15 or above level. >> we heard from the ceo of l'oreal, in the beauty space, what's your top pick >> ulta. ulta has disrupted the cosmetics business cosmetics are leaving the department stores. nobody wants to shop like that anymore. ulta is a huge winner. has store growth, fantastic concept and getting the ability to quguide right and speak to te street >> stacey widlitz, thank you very much. thank you for my gift.

still to come on "worldwide exchange," futures pointing to a strong start on wall street pointing to yeedsterday's 400-point pop for the dow. and an out of world auction. actual pieces of the moon are up for sale we'll tell you how much eye th'r going for.

welcome back to "worldwide exchange." let's look at the futures which are higher by 136 points on the

dow. s&p is up 18 nasdaq up 67 points. this comes after yesterday's gapes. gains standard chartered out with results. the bank topping forecasts with a third quarter profit jump. on hong kong trade earlier, they were up 3%, 4%, but pared back up right now as we speak let's talk about the quarter and haven't volatility and trade fears, joining me is andy h halford. thanks for joining us. >> thank you >> let's talk about th earnings some of the criticisms were on operating costs, which might have been the reason for why stocks pared back a bit off the earnings call.

what's the view there in terms of whether you'll meet the full-year targets on costs >> you're right. at the half year there was concern that costs were a bit higher than a normal run rate. people i think remained nervous. what we specifically said then was that in the second half we saw the costs being broadly similar to the first half, we have now come in with lower third quarter costs than in the second quarter in fact lower year-on-year so reaffirmation that we expect to be in line with the first half costs in the second half. i think the market has been receptive to that. >> in terms of the bigger macro picture, hsbc said recently when they reported that the impacts of the trade war have not yet fully manifested itself in business activity in a meaningful way, your guidance going forward on that topic is fairly gloomy. set up how concerning it is

going forward these trade fears. >> we were trying to be realistic rather than gloomy what we are seeing is clearly a lot more talk about where do the tariff wars go to. in a small part we've seen some reduction in some of the capital market activity. i think it is fairly early days. at the heart of this, many of those countries, consumption levels are still holding up. this is more about the flow of distribution for us in particular, having a large presence in asia, if there is some change in flow between china and the rest of the world, we're well positioned to benefit from that. >> the headline is trade with china is getting worse you recently were one of the first foreign banks to be fwrantfwrant ed granted a license to be a custodian. if you had been a u.s. bank, do you think you would have got

that license is it more a u.s./china issue but it is opening up for the rest of you? >> i don't know what other banks might have done. we have been present in china continuously since the 1850s we're one or two big international banks, non-chinese banks based there. as they push to being more open to the external world we think that plays to a strength we have got. we have been playing and working on that for many years the performance of our china business recently has been strong >> clearly as we touched on at the top, strong set ofnumbers, shares are up. the wealth management number did fall for the quarter is that down to the recent market volatility? what's your view on whether that's likely to continue. >> yes, some of the wealth management performance is market related.

that impacted upon results it's still a big profit contributor, but it has moderated a bit in most recent quarters >> the main driver there is trade fears, you think for the market volatility or interest rates? >> i think it's the indirect consequence of people wondering on trade fears what that does to stock market prices and just being a bit cautious about where they're investing their money. so there's an effect that goes through from that. >> thank you >> andy halford from standard chartered. coming up, the good, the bad and thethe earnings season we'll break it down when we come back c activity every year. right before our eyes, aging is unleashing exponential growth...

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rally on wall street pointing to another big jump at the open we'll find out what's fueling the turnaround facebook shares shooting higher after the company reported mixed results and all tricks, no treats. we are closing out one wild october. it's october 31st, 2018. you're watching "worldwide exchange" on cnbc. good morning welcome back to "worldwide exchange" live in london i'm wilfred frost sitting in for brian sullivan let's get you up to speed on the

market action. frank holland has your morning headlines. chinese markets are holding steady despite the nation reporting some weak data china's official manufacturing reading coming in at its lowest level since july of 2016 janet yellen speaking with steve liesman at an event in washington yesterday saying more rate hikes are needed to keep the u.s. economy from overheating but also warning there is a risk the fed could tighten monetary policy too much. and shares of arconic are up a reuters report says apollo global is in advanced talks to buy the company. a deal could come as soon as next week. wilf, back to you. >> thank you very much for that. let's check in on some of the other headlines. marlee hall is in new york with the latest good morning james whitie bulger is dead and

authorities expect homicide. he was found unresponsive in his west virginia prison cell one day after he was transferred there. he was serving two life sentences for his role in 1 murderers and a laundry list of criminal activity. president trump is kicking off a whirlwind tour across the country to try to sure up support ahead of the midterms. the last-minute blitz comes as the president faces criticism over his controversial immigration policy he sent troops to the border to stop the migrant caravan and is now pushing to end birth right citizenship with an executive order. in toronto a water main break caused the ground to soften and swallow up everything in its path. an emergency transit vehicle happened to be parked in the wrong place at the wrong time as the sinkhole worsened.

luckily the driver escaped before the car became submerged. back to you. >> thank you very much for that. let's check in on the market action futures are pointing higher following yesterday's gains. we are called higher by 137 points for the dow 66% f points for the nasdaq and 18 points for the s&p. what about asian trade we're seeing a decent session there as well. the nikkei up over 2%. the rest are up over 1%, other than south korea still a strong session as for their month to date performance, shanghai down 8%. japan down 9%. hong kong down 10% european trade, we have seen a decent session carry over,

perhaps not quite as positive as we've seen for some of asia. france is up 2%. ftse is up 1.5%, as is germany for the monthly performance there. the dax is down about 8% before today. so we'll be down about 6.5% if things stand as they are for october. let's discuss markets in more detail with our guest from pimco. good morning to you, gene. i want to start by looking at that international picture we have chinese pmi data, a bit soft but the currency always in focus. how much are they feeling this heat of the trade war? >> i think they're feeling it quite a bit. it's been unusual over the last two years to be the closer you get to beijing, the more pessimistic people seem to be. it's affecting sentiment in a material way coupled with the fact that they started tightening policy well before the onset of the trade war. they're only starting to feel

the heat of the credit tightening now >> does the midterms make the catalyst perhaps to improve negotiations >> i think there's some home of that when you look at the political dynamic in the united states it's not obvious why one would expect a material thaw or some material progress towards a deal this is a bipartisan issue in the u.s. it's an existential one. a challenge to the chinese growth model >> what about the midterms back in the u.s.? we're focused on things like interest rates and the trade war for why we've seen a big equity market pullback. >> i don't think the midterms have made a material difference. it's more about how close are we between end of cycle and late cycle and are we hitting a transition point or aityi ia ti points in some ways it's like flirting with a virtual recession

all this data is softening to a point which looks recessionary >> in the u.s. >> not so much in the u.s., the rest of the world. >> the u.s. data, you're content with >> even there we think the best has passed >> what does that mean for your sector preferences in the u.s. >> you know, we're obviously more bond focused than equity focused, but you have not seen a year like 2018 since the global financial crisis or the stagflationary '70s. so we're focused on keeping duration short, focused on quality. >> in terms of the view in europe, is that getting worse in a way that people have not priced in yet? >> it feels more like groundhog day than halloween

we're revisiting what happened earlier in the year when data fell off a cliff in the eurozone so we started to see negative data surprises coming in it's almost like the rest of the world can't keep up with the u.s. we're seeing it in china and europe part of this is driven by the problems happening in italy. it looks generalized and i presume it relates to a slowdown in trade so it comes back to the whole u.s./china trade dispute >> gene, great to see you. let's find out what else we'll be talking about today time for the top trending stories. frank holland joins us again back from cnbc hq with those >> starting off in india where the prime minister is unveiling a towering bronze statue of a key figure of independence the statue is one of the world's tallest and it cost more than

4$400 million. some moon rocks are hitting the auction blocks three tiny piece of the moon which were collected during a soviet space mission back in 1970 are being auctioned off the lunar fragments could fetch up to $1 million and for as long as kids have been trick or treating for halloween there's been some candy they were not crazy about getting. for me, it was always mints. the reese's peanut buttercup folks are hoping their candy is one kids want. they're setting up a candy converter tonight from 4:00 p.m. to 9:00 p.m. they take the halloween candy that the kids don't want and swap it out with reese's peanut buttercups instead the machine can handle about 10,000 cups. i wonder if it takes apples. have you ever gotten an apple for halloween? >> certainly not, and mints? it's got to be like chocolate or something. mints should not be given out.

my question on those machines, is it a gimmick in is it a trade for what you put in? or do they melt it down and change it? it looked like a dispensing machine. i imagine it's a gimmick but a fair one i don't think it's a solar thing where they turn sunlight into electricity. you just put the candy you don't want in there. some cups come out they only have about 10,000. it's already stocked in there. >> why do we have that data that it can only do a certain number per minute that suggests that it is actually melting it down and mixing it with peanuts so i will believe that i like it. >> halloween is about imagination. >> there we go great stuff. still to come, apple's big updates. the tech company unveiling a slew of new products, but can they bolster the stock price we'll find out next. and here's a look at how the

major u.s. indices have performed so far this month. not very well is the conclusion. positive thismorning we're back in a couple minutes like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence. a moment of joy. a source of inspiration. an act of kindness. an old friend. a new beginning. some welcome relief... or a cause for celebration. ♪

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nasdaq up 108 points facebook shares moving higher following the latest quarterly results. elizabeth has more on that the market likes it. >> it's been a wild ride for the facebook stock down 6% in extended trading, now up 4%. so investors are look at that bottom line beat earnings per share came in at 1.7 1.76 user growth, foacebook had a 9% increase year on year but still below expectations the ceo on the conference call saying the company is investing

hefl thi heavily in three areas >> i want to be up front, even assuming we get to where we want to go from a feed-only world to a feed plus stories world it will take some time and our revenue growth will be slower during that period like it was when we wereitioning to mobile >> facebook had come up 45% year-on-year the company now employs more than 33,000 people orldwide. >> that is pushing up costs. not as much as people had feared the stock is doing well. all the f.a.n.g. names have reported, throwing apple into the mix, they're reporting thursday night what are we looking for there? >> we hear from apple tomorrow the key thing will be iphone demand everyone looking for guidance on the key holiday quarter for apple.

this is our first look at demand for the iphone xs, and we'll have to see if usconsumers are going for the premium smartphone >> let's dive in on more detail with apple joining us is natalie morris let's start with the big picture in terms of earnings then we can drive into the product launch what are you focussed on is it still about iphone sailings and the pricing >> the mass market story is the iphone and ipads, but it's interesting to see if apple is making money on apple services they make money in the app store, they make money in itunes, will they make money in

icloud it's not as sexy as iphones and ipad sales about there were a lot of stale products they beefed up yesterday in their announcements. we'll see how wall street reacts whether they're excited about that or if they give them a pass for having a stale lineup of c macs >> let's dive into those updates yesterday. so much focus has been on the price increases on the iphone, whichingly they updated th product enough have they done that with the ipad to justify the price hikes? >> i think so, yes the new ipad has no bezel. it's green tscreen to screen it's a sexy product. it has the new pencil which people will enjoy using. it charges wirelessly. it just snaps to the side.

you can switch between gestures with the pencil. you can turn it around, it looks like an eraser i think that's intuitive the price point is reasonable. now they have a wide spectrum of options for anyone who wants to use this as like a weekend warrior type device to minute who really wants to use it in their professional life. they're estimates it's faster than 92% of personal laptop pcs. so, you know, it will remain to be seen whether people think this is just think you should have for fun or whether it's something people take to work as their main device. i started to use mine for that reason >> more expensive than a lot of pcs as well. now we had two big product launches is that it now for the foreseeable future >> it should be. this is common for them. they do the one-two punch and

see how it shakes out for the holidays >> okay. great stuff, thank you very much for joining me this morning. natalie morris cnbc contributor. >> good to chat with you approaching the top of the hour the steam getting ready for "squawk box. becky joins us live from the nasdaq >> it's great to see you obviously we'll be focused on the markets today. the last trading day of what has been a terrible month for the bulls on wall street we're covering from all points one guest host this morning is going to be here talking through what he's seeing in the markets. from 7:00 to 9:00, we'll have sam zell we'll see where he sees the housing market and real estate these days we'll get his take on that and much more. and also this morning a ceo call

barbara humpton will be joining us to talk about what she sees happening in industrials and scott gottlieb, the commissioner of the fda will be on set with us this morning, he will talk about drug pricing and the plans that they're laying out to try to attack the constant gains it's an interesting plan, we'll dig into the business of that with him we have don draper joining us to talk etfs and we have general motors cfo who will be joining us to talk about what's happening at general motors right now. we'll get into the potential for peak housing, peak auto and much more back to you. >> great stuff busy show as always. looking forward to that at 6:00 a.m. up next on "worldwide exchange," your top global hot spots. the markets around the world you need to have on your radar a quick check on futures

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. good morning welcome back to "worldwide exchange." look for results from gm, yum brands, kellogg before the open. after the close, express scripts and fitbit at 8:15, we have the adp employment numbers at 9:45, the chicago pmi the markets called a bit higher. the dow up 103 points. the nasdaq up just shy of 1%

with facebook helping to pull that higher. joining me now from new york is tim seymour of seymour asset management good to see you. >> great to be here. >> this will be the first day in october f we fini october, if we finish where the futures suggest, where we had two days of gains. was that expected coming into the end of the month that we were due a bounce as we round out the month? is that the only reason why we're seeing it? >> you may have put the reverse whammy on markets today. be careful there's no question we were in oversold conditions. there's no question if you had not gotten some of those china tariff headline rumors two days ago we might be stringing together four days it's not a huge surprise to see markets have a bit of relief there's some relief last night

with facebook. apple is a big one we have the dynamic here where people are starting to really assess the impact of earnings season and starting to gauge their forecast for the s&p earnings next year in an environment where tariffs are where they are it's nice to see the pull back here i think you're getting a much more sober view of under moderate conditions where you could see s&p earnings next year that's where equity investors are starting to grapple. >> what do you make of the facebook numbers and earnings call are you a buyer? >> i'm not a buyer of facebook i think this company has some issues in terms of how they are producing product, which is data the cost of security and procuring, securing data for them is a different story. there's some threats for their platform i think management teams that define how they handle data and the complexities of that in the new environment will be

rewarded i'm not sure facebook's team deserves to be rewarded now. that may sound aggressive but i don't see a reason to come in and buy this bounce. i think the multiple this company trades at will continue to be challenged they're not going out of busine business their platforms continue to broaden but profitability won't get significantly higher >> when we look at the month as a whole, s&p roughly down about% tech has been such a big story, but not the worst performing sector, nor is it these trade related sectors like industrials and energy consumer discretionary is the worst. it's down 13%. are there buying opportunities there? >> they had the best run going into the third period. those stocks had the biggest run into this. i realize consumer confidence

yesterday was back to september 2000 levels. so extraordinary levels. i think where wages have moved, the job market has moved, consumer discretionary should rally through the hol tiday season i realize the comps are more difficult than a year ago, but i continue to like this play i think a number of either the big brands in discretionary continue to show they also made changes to the core business model, how they're adjusting to folks like amazon. this is a place where you can continue to see real stories in terms of earnings growth from the top line into the holiday season >> tim, great stuff. tim seymour of seymour asset management let's check in on the futures markets. pointing higher. losing a bit of steam. the triple digit gains on the dow just slipped away.

98 points higher nasdaq 55 points higher. s&p 14 points higher that does it for us for "worldwide exchange" from london "squawk box" picks up next understanding we're not in this alone, and teaching my kids that no ambition's out of reach. ambitions live everywhere. synchrony helps make them happen with data, insights, financing and technologies. ♪ ♪ synchrony. what are you working forward to?

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>> good morning. stocks on the rebound. futures pointing to a higher opening after yesterday's 430-point rally for the dow. a steady stream of corporate report cards and employment data could test those gains over the next three hours janet yellen's wall of worry. the former fed chief raising a red flag on the national debt, the trade war and the central bank moving too fast or too slow and tricks and treats for

facebook investors the stock whip ssawing after the company posted a mixed quarter it's halloween, october 31, 2018, happy birthday, penelope i remain under a spell ♪ live from new york where business never sleeps, this is "squawk box. good morning welcome to "squawk box" on cnbc live from the nasdaq market site in times square. i'm becky quick along with joe kernen andrew is off today. joining us is mike santoli and our guest host is portfolio manager at douglas c. lane and associates and a cnbc contributor. let's jump into the markets. let's look at the u.s. equity