it is 5:00 at cnbc and here is your five at 5:00 a friday bounce back wall street trying to regain ground after posting its worse day in two weeks jobs report count down looking for the latest read on us economy after that weak reporting yesterday. and warren versus cooperman. ripping into the top

presidential candidate in a new letter and beijing roll out and new salvos in the streaming war this time from apple and netflix. it is friday, november 1 "worldwide exchange" begins right now. ♪ >> good morning, your chart of the day has to be pintrest shares start to sink much more on that stock coming up check out that move off by about 20% at this stage. stock futures open up and the dow jones by about 40.

nasdaq up by about 20 as well. the s&p is trying to bounce back from its worse day since october 22 all of this after that key purchasing data. the 10-year note yield 1.69% two-year note 1.53% as well. reaction out of china. nikkei off by. .3% china rose in the fastest pace in europe, we are seeing some of that positivity as well.

the german dax up .4%. cac up about .3% back home, investor attention should be on the october jobs report three and hey half hours to go economists are looking for a gain of 90,000 new jobs down from 136,000 in the month of september. unemployment rate should tick slightly higher to around 3.6% 90,000 print for headline jobs number would be the lowest level since we've seen since may bringing in danielle live from dallas thank you for the early wake-up call what are you looking for that will stand out this time around?

>> i'm going to pay pretty close attention to the sectors affected i was surprised to see construction come in as weak as it has the housing market, chairman jay powell alluded to that i'll be paying close attention we are expecting manufacturing to be weak we know general motors will shave at least a thousand jobs off that line. seven indirect jobs are affected by every lost auto job >> so is it fair to say that this will be a noisy report so to speak you mentioned gm and other nuances. with the headline number, if it

does come in at 90,000, it represents significant slow down does it mean we are truly late cycle? is. >> i don't think there is any doubt we are late cycle. last october at this time, there were 250,000 jobs created. cut that in half the run rate has been cut in half the only sector that added was financials every other sector and size has seen a slowing we've seen layoffs with challenger health care jobs technology jobs. i don't think there is a doubt we are very, very late cycle i wouldn't be surprised with the down side risk

did the fed do the right thing when it took the third step in cutting interest rates just this summer >> i do think that was the right thing for the fed. they would have shocked markets. we'll see car sales out today. not from the big three but i'll pay closer attention to that i might even sleep through the nonfarm payroll report because the key is the ism report that follows it let's see if we have three straight months of declining new orders that is a trend that will back any weakness we are seeing in the labor market >> we have generally strong by slowing numbers compared to the rest of the world. but there has been a view that

this is a definite slow down, a contraction. what is the appropriate reaction in the coming three, six, nine months >> i think powell has backed himself into a corner saying he's going to be data dependent on steroids. when you see numbers come out, this did not include the effect of the general motors strike that will make investors and market watchers that much more sensitive. every time it is disappointing, they'll look straight to jay powell he made it clear, he does not want to keep cutting rates he wants to shift the easing

over to the balance sheet but i think he's backed himself into a corner >> always great to hear your thoughts >> by the way, go niners happy for you. >> wall street versus capitol hill opening a new can of hurt against elizabeth warren frank holland joins us now with that drama >> cooperman is ripping into warren the latest in a war of words and a response to what cooperman calls warren's soak the rich cooperman recently told political he believes in a progressive income tax, he doesn't believe in warren's

approach she reacted suggesting that he su succeeded because of the opportunities given and he should pitch in. >> you preceded to admonish me as a parent chiding a child. and why i believe many of your innish tiffs are miss guided >> for to you suggest capital is a dirty word and these people as a group are ingrates indicates you are grossly uninformed or knowingly warping the facts. warren fired back saying he's wrong i'm fighting for universal child care and free public college. >> they won't open the stock

market if elizabeth warren is president. it is said you don't make poor people rich by making rich people poor. >> this isn't the first time leon cooperman has criticized a presidential candidate there are other billionaires out there being critical of warren as well. >> another has called warren's plans nuts his words. he was very critical of barack obama's tax policy before the 2012 election. >> the billionaires certainly a big focus for many of those candidates when we come back, the latest on china's push to become the dominant player in 5g.

a silver lining to an ugly year for u.s. steel later on, netflix goes to broadway called "the irishman" a very busy hour. we'll return right after this. ♪ there are things we would change about work. and there are things we wouldn't. ♪ when work is worth it.

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we are in the month of november there. welcome back to the show the race to 5g is heating up as china flips the on switch ahead of schedule. joining us now from china. argen, this is a big deal. it is china saying, it wants to be the preeminent player in next again wireless >> reporter: that is right they were targeting a 2020 launch they brought it forward showing that amid the trade war fight with u.s., they will continue moving forward some of those packages starting for $18 all the way up to $85 for about 300 gigs of data one colleague tried out the network and found he was getting

data speeds nine or 10 times faster there is a lot of hype around this technology and challenges to the adoption. suggestions that the price of pa packages are a little too high and are consumers going to be able to pork out can carries convince consumers to switch over if you are using 4g, it is pretty adequate we have talked about 5g being a race and what china said is that it could move its hand to a 5g

future back to you. >> you could make a case over the course of the last 30 to 50 years, china has been playing catch up trying to emulate or make existing technologies better, maybe even stealing intellectual property here and there. this is a step to make its mark. there are influents there to make this roll out go as smoothly and effortlessly as possible because they want the world stage to see what they can do >> it goes back to this trade war which has come back to the battle of supremacy between u.s. and china and moved donald trump to put pressure on huawei. it is seen as a symbol of

china's growing influence abroad president trump has been trying to convince other countries. he's worried this could open the door to the risk these are claims huawei has denied it is such a critical technology that could underpin a number of industries through to a number of cities through to driverless cars and the u.s. doesn't want china to get ahead in that >> thank you very much for that. we appreciate it still on deck for the show nothing picture perfect about this stock why pintrest is setting up for a rough day of trading 54 days until christmas. one retailer is already making

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in the dow travelers, boeing, mcdonalds and ibm. let's get a check on other big stocks on the move this morning. shares of beigene soaring after amgen plans to buy some of the chinese cancer drug maker. those shares up pretty big pintrest showing some slides after the company posted wider third quarter loss adjusted earnings fall short cost expenses more than doubling as pintrest spends in advertising. those shares off more than 20% then we've got u.s. steel reporting a net loss

adjusted results and revenues and sales dropped 18% amid falling prices and demand. those shares up 4% right now straight ahead, record cold temperatures already hammering parts of the united states plus so long new yk.or president trump has a new state to call home "worldwide exchange" is back after this this is a problem that affects each and every one of us. together with ibm, we created a whole new kind of school called p-tech. within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. you know what's going up today? my poster. today, there are more than a hundred thousand p-tech students around the world. it's a game changer.

>> welcome back. president trump is waking up today as only the fourth sitting president to have formal impeachment proceedings levelled against him. tracie potts joins us with the latest >> reporter: we've been hearin a lot but this process is about to formally kick off the public will see nationally televised hearings and get a chance to see the evidence and hear the witnesses >> the resolution is adopted >> with every republican voting against it and two democrats defecting. >> it is a sad day because nobody comes to congress to impeach a president of the united states. no one the house vote paves the way

despite a protest. republicans will continue to have input their lawyers can ask questions. they can call witnesses. president trumps attorneys can participate. some closed door hearings can happen >> it gives authority for open hearings but they cannot go back and fix a fundamentally tainted and unfair record. >> at issue is whether or not president trump leveraged foreign aid. >> the democrats are desperate they have nothing. >> next, public hearings >> the house and general public must see all the evidence for themselves >> then the judiciary committee votes on articles of impeachment. if approved, president trump will then go on to trial

>> speaking of breaks, president trump has made a break in some way with the state of new york he basically said he's going to move to florida full time leaving new york interesting because i have a tweet we have cued up here the democratic governor of new york, andrew cuomo took to twitter to say, quote, unquote, good riddance. it is not like @real donald trump paid taxes here. welcome him to florida what is the dynamic there like? >> not only has president trump lived and grown up in new york, he's under investigation there they are digging into his taxes. the president said look, i love new york and the people of new

york but the leaders of new york have treated me very badly he's taking off and making florida his permanent residence.

>> new data out of china showing factory activity at a more than two-year high as fresh concern

comes about getting a trade deal done we are live with the latest. and investors are awaiting the release of the next big jobs number and look into the impact of the general motors strike new troubles for wework as a former staffer files a lawsuit against former ceo >> welcome back to the show. i'm brian chu in for brian sullivan let's go to frances rivera for news >> officials in california remain on high alert

the maria fire broke out near santa paula. it is one of several new fires that have sparked near los angeles. the 46th fire began near riverside and has destroyed near three homes. it was ignited when a stolen vehicle was left in a field. freezing temperatures. >> four men behind bars for smuggling 800 pounds of chris call meth in hot sauce bottles the meth worth an estimated $210 million. another six boxes were found in a hotel suite.

a lot of crystal meth. i'm thinking about this siraca that went to waste >> somewhere, there is 700 bottles worth it >> i'll make sure my hot sauce doesn't have crystal meth in it. we are half way through the 5:00 a.m. hour. indicating the dow will open slightly higher. the dow is coming off its worse day. the s&p 500 is trying to bounce back from its worse day on october 22 to asia now, new manufacturing data out now eunice, this seems like a big contradiction. rating comes in worse and then

it is bullish for the private sector reads what gives >> exactly this private sector survey showed that factory activity came in at its fastest pace in two years. a lot of analysts believe the surprise bump came in because of a temporary tariff exemption granted by the u.s that could be the reason why we are seeing the surprise lift meanwhile, china's communist party wrapped up a four-day meeting here this week which emphasized the need to strength enthe party leadership with president xi jinping at its core

increasing strengthening party leadership the role of the state in economic policy and safe guarding southern ty with respect to the hong kong freer governing system they used the word perfect it doesn't look very good for beijing to be willing to compromise on issues >> the leaders in china are scrutinizing what is happening with 5g wireless and its roll out closely. how critical is this for leadership in china that the world knows or sees what is happening with the rollout >> they think this 5g rolling out is super important

it started today super cheap at $18 per month we check it had out. it was very, very fast we were comparing a huawei phone and iphone, it was 10 times as fast with thehuawei phone. that will be an issue for the iphone and apple because huawei and other chinese companies here the ones that have the 5g enabled phones apple doesn't yet have a 5g enabled phone. there has been a lot of discussion here about the potential issue for apple going forward in this market >> everybody is using more and more data across the globe eunice yoon here with us on everything >> new chapter in the streaming

wars apple tv plus launches today as they reinvent themselves as a more services oriented company costs $4.99 or it is free for a year with a new iphone or mac product. it has nine shows to start let's start more about this now. also with us is rebecca newman we'll start with you this is important. how important is it for the overall landscape for apple to be launching this alongside disney, netflix and everybody else that wants to come into this space >> these companies are punching up against each other trying to

offer quality content showing a diverse range of companies are able to come into the service and compete against traditional studios. >> apple's core business is not video production it makes hardware. how important as an investor are you watching this particular launch of apple tv plus. >> watching apple's goal trying to be a consolidator to watch their content or other people's content. you have to watch those already existing, where you can access home digital media home movies and pictures and it is a much broader offering than just the nine shows you are seeing being launched today. apple wants to create the roach

moteleffect. >> also about the arms race. we are talking nine shows. bigger libraries at netflix and disney plus. as we talk about this idea of content, we are seeing hundreds of millions paying for rights to shows and billions spent on original content how much of that will be critical for the success of these companies as they create shows. some of these shows are not exactly coming out to acclaimed reviews. >> at this point, we don't know what the appetite is they are accustomed to subscribing probably to netflix and more than one. we don't know if they'll have the appetite to subscribe to

seven, eight, even 10 screaming services the way they are dividing themselves is offering acclaimed programs >> if i subscribe to all of these, i'll be paying $60 to $70 for streaming. so much for cutting the cord and saving money >> you have at&t getting into the streaming wars with content. disney recognizes that people will leave traditional cable, so they need an joefr the top evering. we have to look at the comcast and communications of the world because content is king. they are trying to create the content and keep them. >> to follow up, if you are trying to figure out which stocks or companies will emerge as winners in this whole process

and where you allocate capital, where are you looking for. we know netflix is the dominant player right now what would give you a better indication >> it would be a sub describer growth it is about keeping eye balls. >> that involves a massive amount of content. we know netflix has placed a very large bet on this show "the irishman." a lot of star power. take us through what exactly this will mean for the future of streaming. how critical will it be? >> this is netflix saying they are able to attract the best of the best in entertainment.

they have a director and a cast. this is them saying come work with us, we'll give you the budget you need to make your product. we'll work with you to make it the highest quality it can be. a calling card for others to pursue >> thank you for being with us on all things streaming. coming up, it may be a new trading month, famed short seller may want to keep his october hot streak rolling the calls he made on two notable companies that led to a historical month how chick-fil-a's efforts to drum up sales ended up backfiring that's coming up next. it lets the immune system attack, attack,

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. >> that there is a look at nasdaq you can see they are up 40%. tesla is up as well. biogen and lam research top as well frank, i'm getting hungry already. >> what about a chicken sandwich for breakfast. and just not a sunday. >> they sent out an email forgetting its own schedule and urging customers to visit their store on national sandwich day falls on a sunday. also falls on the day of the return of the popeye chicken

sandwich >> what is hotter? streaming wars or chicken sandwich wars? >> i would say streaming wars has more money behind it but i'm more interested in the chicken sandwich sales >> a lot on the strength i haven't had one. >> restaurant brands which owns them and also the impossible whoper driving a big deal. >> anything that people can tweet about. halloween out of the way retailers are looking ahead to black friday kohl's posted the sale post on its website. it will open thanksgiving evening. some deals will be available the monday before. >> i don't necessarily disagree

with this. some will say it is too early too soon i feel like the more people know about it and think about it and the more kohl's is front of the line >> on line, who cares but opening the door thanksgiving even is a big deal >> in sports now, arizona cardinals hosted the undefeated san francisco 49ers to kick off week 9 of the nfl season this game was a close one. arizona, the first to get on the board after the new addition of running back kenyon drake scores a run. san francisco quickly answers before expanding its lead to

21-7 at the half i wanted to turn it off but i couldn't it is not enough 49ers scrape by. it was a 28-25 victory it has been decades since that happened >> defense really wins these games. let's keep it honest >> they are undefeated >> still early >> coming up, troubles continue for wework as the company now faces a lawsuit over the alleged actions of ceo adam neumann.

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>> time for your executive recap. former wework ceo is facing a new legal challenge after a former chief of staff filed a lawsuit claiming neumann supported wage gap and smoked marijuana in front of her and used women getting pregnant and taking time off against them >> jim chanos according to the times saw one of the firm's most profitable months thanks to bets against grubhub. >> authentic brands group will

take over. barny's brand name will be licensed to sacks fifth avenue >> one area that will look for a few good candidates to keep companies safe cnbc's kate rogers joins us now. >> good morning. some 2 million people work in cyber security roles around the globe. there is a skilled labor shortage of skilled workers needed to defend tdi were live today in washington, d.c. are looking for developers to create security programs and cyber analyst like mandy who started her cyber career in the navy

>> it is interesting it is always something new you are never looking at the same thing it doesn't ever get boring it is always something new to learn. it is important. this is not only critical to commercial and private sector but also federal government and military >> tdi has competitive pay and benefits as well as tuition and training and training within the organization to help vest in employees to grow their careers. the ceo has noticed something. people have ghosted the company when they invite them in for interviews all the time to come in and potentially get hired. some have even gotten jobs and just not shown up. amazon is coming to town the fight for tech talent here

in washington, d.c. will get even tougher here. >> do potential candidates need any sort of degree to get hired in those situations? >> we talked to the hr manager entry level positions can start near $50,000 up to $100,000. a degree will obviously get you more money, certifications also get you to a higher level. mandi is working towards her bachelor's degree which can will help her but you don't necessarily need that when you are just starting out. thank you to kate rogers live in washington, d.c. we'll go to our chief jobs analyst. i like to call the job's number

the grand daddy of them all. is that still the case is the job's number still important? >> i like to call it the most hated. >> why >> it is so noisy. i think people try to draw these hasty conclusions. i think if you try to do that today, you'll be in for a world of hurt. there is a lot of noise on this space because of the gm strike gm is worth at least $50,000 on this report. gm handled these prifrs claims

there is not a hint of stress in the labor back drop right now. >> that is higher frequency data we get it every week is it fair to say your employment picture although it could show not a threat of slowing down >> it is not a guess job growth has slowed down slowing down to averaging roughly 130,000 to 140,000 jobs. that doesn't heen the next job is zero and then we'll get to 100. it doesn't have to happen in this quick succession. in the context, again, it is not guesses. it is all in the context of a really tight labor market now.

we have 1.5 million more job openings this is a fact we have never seen in the history of the data. >> you are referring to the labor data >> the labor markets are tight that's the thing that can help propel consumption >> let's talk about you as an economist. you say there is no real stress out there that you see every time there is headlines, let's not even talk abroad let's talk here in the u.s chicago pmi, certain manufacturing gauges how do you take that data and say, things are not really that stressed >> i would say there are points of some stress manufacturing is a great example of that. we look at the broader back drop

and feel comfortable you'll see this divergence to this soft data the hard data had held up a bit better ism has reported very poorly the regional pmi has held up much better. even within the sentiment data, again, we know why is the case >> take us through what is going to be the most important thing you'll look at today in the number for jobs. >> it will be really hard to look at this report and cherry pick one or two key things

the gm report will be littered throughout >> appreciate you being here that does it for the show this morning. the move is going to be big. the market moves up higher the dow will open by about 50 points couple hours here, "squawk box" picks up coverage right now. good morning, a show down between wall street and washington cooperman and warren sparing over economic policy >> good riddance, new york's governor sounding off ach new york president trump changes residence to florida >> other data points we'll be watching it is friday, november 1, 2019 "squawk box" begins right now.

>> good morning. welcome to "squawk box" here on cnbc we are live from the nasdaq marketsite on times square joe is out today but joe taranoa is in with us. >> good to see you boy, this set is beautiful you get to see each other and you have to make sure you are in shape. >> joe is cnbc contributor and senior managing director of investment partners. you'll see we are looking at some green arrows. yesterday, you did see a decline. yesterday, the dow down looking at the weake