it is 5:00 in new york here is your "top five@5" queue the spinal tap because the nasdaq is turning it up to 11. >> tiktok tensions rising. dead locked in d.c democrats and republicans still miles apart on major issues for the next relief bill the president may take matters

into his own hands uber road blocks and queue the countdown clock. jobs numbers are expected this morning. estimates are all over the map it is august 7 this is "worldwide exchange" here on cnbc we made it to friday good morning, good afternoon, good evening from wherever you are watching happy jobs friday as well. looking at futures they are indicated lower down about 130 points. you can see the fair value slightly positive. anything can happen. it was another big day for stocks on thursday another record close for the

nasdaq the 32nd closing high. the nasdaq closing above 11,000 the first time ever is now up 62% from the march low if you are some genius who timed it go to sizler, if you can. gold look at that another nominal record high. in 1980, gold hit about 1,800 an ounce. with inflation, technically higher then. the first time since the win streak in may up from 2006

gold is higher around the world different story. we have more in a moment the european markets are trading down not a lot we'll give it a flat break luxembourg, switzerland and denmark are in the green this morning's breaking news, the white house taking action against tik to be and wechat >> big news overnight, president trump signed two executive orders prohibiting u.s. residents from doing any business with wechat or tiktok

the executive orders say after 45 days, commerce secretary ross will identify transactions that will be subjected to the restriction. bytedance is a private company, wechas is not. you can see the stock sinking there overnight. affecting other major chinese stocks as well including alibaba and others the white house issued new recommendation on bans of chinese companies that do not comply with u.s. regulations forcing them to delist unless u.s. regulators get access to internal audits. imposing a payroll tax holiday as lawmakers remain unable to

reach an agreement the president expects to sign orders on eviction protection and student loan repayments. as far as the talks, the chief of staff say both sides are a considerable amount apart. it seems like the refrain of the week >> everybody is apart until they come together. we'll get you some stocks to watch in a few minutes see you then the nasdaq unstoppable run hitting the 35th all-time high and 32nd record close of the year the next guest has stock ideas outside that you might want to consider are you allowed to recommend nontechnology stocks

is that even a thing >> i got an extension. it is allowed. what have you got for us >> we are not a fan attic shop per se there is this developing idea of a vaccine late q4 or q1. looking at las vegas sands, companies that have reopened and high-quality companies you look at a normalized year like 2019. higher returns on investment capital and looking at price to cash flow and return on capital. so a company like las vegas sands fits squarely on that category for the high teen return and 10-times the cash

flow looking out to 2021 where there is a bit more of a normal run rate of the revenues and cash flow. >> i kind of made a joke there josh about going to the sizler of course in new jersey, we can't go eat inside and you can't eat outside because it is either 100 degrees or a hurricane. you are recommending darden restaurants. is this a pure recovery play >> it is also, prepandemic there could be a lot of rationon alleysation. companies dike darden will

survive this storm in 2021 and 22, companies like darden will benefit. they've held up well they've maintained curb side and takeout. it will be interesting >> and your final pick is really interesting. thinking about things you are not allowed to do. going to a stadium for a sporting event sysco provides food and food service. something we can't do. this is really out of the box

thinking >> sysco with an s, building in free cash flow building each year no one is going to a stadium very few are returning to universities and settings of that nature when things return to darden and las vegas sands with the sector, a smaller play, they will look to see another day. that looks right and will continue to progress >> likethe names darden, las vegas sands, sysco thank god not the faang stocks

take care, when we come back when no profit is a good thing for one real estate stock. your mystery chart, who is that? i have no idea >> a huge name in food delivery, not enough to whet the appetite. we'll show you their massive losses more on the white house move to ban tiktok and wechat we are back after this . (bling) see, incident resolved. how did you... gotta enjoy the small wins. you keep being you, derek. keep being you.

puts its customers a wiin charge?rier well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today.

we like to keep our promises here on "worldwide exchange. earlier, i promised more picker. we'll call it the morning's picker upper hide hailing, coupon cutting forgive the dad jokes. >> picker upper. that is a brian sullivan original when is the last time you were in an uber a surge in their food delivery, not enough to counter act a 75% drop in global ride sharing driving shares down by 45% gross bookings, total value fell

35% year over year while active users fell 44% to 55 million people are eating and getting takeout sales up 103% year on year and bringing in more revenue than ride sharing. shares of uber down 3.8% stocks of zil owe soaring. that beat estimates for the loss of 48 cents a share. revenue also beat compared to groupon up 30% ahead of the open cost cutting allowed the company to create $70 million in free cash flow and beat with a loss of 93 cents a share with sales of $396 million. brian.

>> 27.5% gain for groupon? >> yes more people are doing online shopping that company grew eight years ago. >> 20% off getting your nails done >> and you are getting your nails done these days? >> and i'm not >> i was in an uber five or six days ago short ride window down, mask on headed over to my buddies to not drive. >> see you in a bit. still on deck, a crude check on oil as we head for one of our best weeks since june. oil has been ticking up if you hadn't been paying attention what bp did that may be a big

gift in the u.s. oil industry. dow futures are down 182 we are back after this

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. welcome back watching crude slip a bit as hopes for a stimulus deal in d.c. continue to fade. oil is trying for the best five-day gain since early july not a lot but not negative

joining us now, research founder. always puts out these fun notes, if you will. if we can call oil and energy fun. we had interesting times at the opec meetings. hope we'll be able to do that again soon it looks like our friend, the new head of audi arabia energy minister has done what he set out to do which was to keep the price of oil stable. i know he wants it higher. do you think he'll get it there? >> as far as fundamentals are okay and looking for their attention and the relation between iraq and iran and

cheating cheating within the contest get them all confused. that is clearly the main intention. they've addressed the issues they've had huge impact to help them the biggest outbreak here is on the dollar bp did something not only they thought it wouldn't do but others would have. it cut its dividend in half. do you think that will drive investors to other oil stocks and do you think there is a chance exxon might do the same you don't want to look at just that cut you want to do things at the

same time. they'll half volumes those will be cut by 40% nevertheless, it is a very big deal this is the new ceo taking bp into the energy transition aggressively we'll see more from the company in september it is absolutely unprecedented that the company would cut its dividend in half up 6% on the day of the announcement. it would be the energy transition that would make the stock go up from investors demanding this i argued that basically share holders asked bp and that our conclusion was bullish on oil and u.s. companies >> that's because production cut

in half and not necessarily going in the environmental direction here i know you called eog in the past, theapple of oil. very quiet company ceo, i've been trying to interview the guy for like 10 years unsuccessfully do you still like eog? >> they were pulling through last night not making major announcements not like bp. another minor with less huge strategy shifts where these companies announce growth is out. ultimately we want to grow the dividend and the free cash flow. eog is saying a similar thing but in a quieter way and really continuing to perform well operationally. the price was terrible in q 2.

one of the problems with the stock, brian is the potential for a biden presidency which seems very high. there are concerns that eog has very high amount of federal lands. this is all a bit of nonsense because biden has said he doesn't want new activity on federal lands. the gulf of mexico exposure and new mexico exposure, that have been affected. the market is worried about the biden presidency >> you make a great point. one word new. that new means eog may have more operational control over those areas. great pleasure have a good weekend. talk to you soon >> coming up your exclusive insider buying segment including one red hot

maker of covid tests getting a big time insider buy and the ceo of a health care company spending $3.5 million of his own money the first in four years. interesting names for you. the dow up 175 on a jobs friday. we are back after this look here, it's your very own all-in-one

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futures pointing to a lower open u.s. president trump banning transactions with tiktok and wechat in 45 days. >> reading, writing and retail dealing with the realities of this year's back to virtual school this is "worldwide exchange" here on cnbc >> good morning. hard to think about math on a friday happy jobs fry about half way through the 5:00

hour futures are in the red dow futures are down about 200 points another big day for stocks another record close for the nasdaq the 32nd record close of the year the seventh in a row lucky seven. nasdaq above 11,000 for the first time ever. now 62% off its march lows on pace for the rise and trillions more gold continues to stay above $2,000 on an inflation basis, gold was higher in 1980, briefly. since nobody remembers that, i won't mention it gold is at $2,069 an ounce on track for the ninth positive

week in a row. that is the first nine-week win streak since may 2006. >> every friday, we show you the company's whose executives are dipping into their own cash, buying their own stock down from five to one. naviet, ceo buying $360,000. number four, quidel is an interesting buy because the stock isn't down it has doubled the company makes covid tests. buying into extreme strength not weakness no doubt a stock to watch in the days and weeks ahead

f5 networks. number two, iqvia. who is this? the former testing company, quinn tiles merged and renamed and the company with the most insider buying this week is e health the ceo spending $3.6 million to buy 50,000 shares of this company. his first insider buy in four years. reminder, we do this only on wex every friday your five biggest insider buys this week. back to this morning's top news and developing story president trump has signed two executive orders prohibiting american residents from doing any business with tiktok, wechat

or the apps of parent chinese companies starting 45 days from now. the order says after 45 days, commerce secretary will, quote, identify the transactions, end quote that will be subjected to the condition. bytedance is a private company, tencent owner of wechat is not eunice yoon is with us i'm curious what these transactions are i want to be clear, he's not badding tiktok he's banning transactions. since the app is free, i'm not sure what is going on here >> i think you are not alone

which is why the stock fell so much for tencent. the reason why it is meaningful is that a number of people will be discussing how this will affect business. the ban could be broadened out to affect other parts of tencent's business for wechat, this is the go-to chat app for businesses and a way to communicate with suppliers it has 1.2 billion monthly active users very tough to get around american companies end up communicating with suppliers through kooech and also making payments a lot of american businesses and americans use wechat here in

china. also a question of how this will affect apple and google because it is in their appstores mainly this follows. it does have international ambitions. especially around gaming in july, they opened up a studio in l.a. because they want to try to build up their gaming portfolio. >> i love getting that local view there the story here is a huge amount

of attention not just cnbc. is it getting any addition there, eunice? >> absolutely. a ton of attention tiktok or bytedance, the owner of tiktok made a statement and said if they are not treated fairly that they will sue in u.s. court the fact that this anger is something we see within the company and the tech community sparking a ton of nationalism. talking privately saying it makes sense there would be this nationalism. there is a concern that it could get out of hand and that we could see a decoupling at a time when china doesn't have the technology yet to rely itself it

could become an issue for china. >> if i was going to be on tiktok, it would have to be called over-bytedance. nobody wants to see that that's from "when harry met sally. eunice u eunice yoon, appreciate it >> another dad joke. people may be driving more, they are not sharing rides. at least, not as a few weeks ago the company posting a quarterly net loss of $1.8 billion uber now lost $13.3 billion in a

year and a half. not market cap, money loss uber's losses basically equal the market caps of companies like halliburton or international paper. let's get more now from our guest. i tried to put that numberin context. this company has lost more where does it go from here >> brian, the reality is you had 26 banks float uber a year ago to repeat the company's messages

which are that it has a natural health in the feud delivery business on the rise we have doubts about that because food delivery grew it still lost and with some other transactions for example take away taking over grub in the u.s., it is about to become a more competitive market you either have people taking rides to restaurants or staying home and ordering take away. you don't seem to have both. then there is the wider issues of regulation and the economy. and they'll be able to afford the purchase on rise or take away >> the stock is down 4% right now. >> they are just bleeding money and there is no indication that

this is going to change. at some point, do you run out of operating cash flow? >> indeed. uber talks about gross cash but it actually is likely to slip into a net debt position as of the next quarter at the rate it is burning their adjusted loss would be the same next quarter as it was previously and they'll have to give incentives for people to get back into ride share everyone is uncomfortable venturing out and getting in an uber that has had other passengers in that day they cannot continue on with that cash burn down 26% i love uber.

i took one the other day a lot of people aren't taking them i took one mask on, window down great company in terms of what does for you what's the long-term future here. if people don't get back in cars for a year, is there a possibility the company goes out of business? >> that is one of the real long-term questions about this company's trop company's trojections. it provides huge operating

leverage it is not clear they'll be able to deliver management will tell you how cooperative they are because they have to what you've seen them do in food delivery is to continue to retreat. they are clearly in areas of ride share where it is not profit use case where they are in rural and suburban areas. they are desperate on airport rides and others and we don't know when that will come back. >> the $7 across town is not going to cut it. they need the airport travel and others we can get an answer on a lot of these today. this is a big one.

uber's ceo dacoming up. there are questions just can you make it. >> coming up, reading, writing and retail trying to figure out what back to school looks like ditis.swer will have huge implay incaon the dow is up 175. we are back after this (bling) see, incident resolved. how did you... gotta enjoy the small wins. you keep being you, derek. keep being you.

>> welcome back to "worldwide exchange." t-mobile says it is overtaking at&t to become the second largest carrier. adding 1.2 million new customers. also posted better than expected revenues during the period shares rising on that news shares of quicken loan company jumping. retail investors were big buyers and the most actively trading name shares of dropbox are dropping despite better than expected earnings revenue the cfo stepping down and will be replaced by the current accounting head. >> thank you

the fall school season is in limbo as many try to find a plan for students the same goes for retailers with many essentials no longer needed like clothes we are joined by our guest januar jan, you get my point. you don't really need the hottest fashion for walking the high school walls. you may need the latest electronics so you can stair at a computer screen. >> first, i'd like to say i already ripped my hair out >> clearly going back to school will not be going back to school we'll see really great back to school spending. it will be the highest it has

ever been. it will come with computers and phones, routers and cables and things you need to be able to do with back to school from home. sales were clothing will be better than expected we are probably 10% or more better than last year of total sales on back to school. >> i admit it, i'm a northeast media guy. my son is going back two days a week four hours. there are schools that are open. there are kids going to high school a full week.

really putting a map together. by county and school district. in general, kids are going back to school in lots and lots of places the biggest are by remote learning a lot of kids will go back to physical school. they'll also need electronics for the day they say we are taking the next two weeks off and everyone is doing remote learning at home back to school has already started. we are already seeing the sales

happen >> bts back to school jan, pleasure. have a good weekend. >> coming up help wanted. the hidden profession saving lives. a shortage of med lab sciences tucked behind the doors and they could be the key to getting unstings done and getting this cotry reopen more on this very important story, next.

as we do every jobs friday, we are looking at areas where help is wanted where are the jobs kate rogers with a look at the hidden profession that might just be saving lives >> good morning. in the midst of this global pandemic, the need for medical scientists and lab scientists

have grown they are not working face-to-face but conducting tests in hospitals and other labs there is a need. some call them the doctor's doctor >> i know other areas like nursing and physicians have their challenges but without laboratory testing positions start guessing that works in cases where you are looking at signs and symptoms ultimately, you need a laboratory test to prove someone has a covid infection you start

mistreating or may even miss diagnose >> beyond covid testing, they are running tests on other conditions from diabetes to heart disease. doesn't mean people aren't getting sick they are putting more strain on the already strained system. back over to you >> what kind of education might you need for this? >> there is a tiered system. you could get a two-year degree and certification called an mlt. you could get a four-year bachelor's and one we spoke to had her phd working in a public health lab there are all kinds of steps >> thank you have a good

weekend. with your jobs friday, a gain is expected that is the average. it probably doesn't mean much. those estimates are all over the map. estimates are all over the map >> they are. we are at two and a quarter million for job gains. a lot of people in may, adp was

down $2.5 million and payrolls were up. private payrolls were almost $5 million. we are fading adp as it relates to what is going to happen in current months it is still early. august is a month where we could see declines again i want our viewers to soak that in. you are at 750,000 jobs off.

there are so many variables. be careful to compare it to that average we are in a window where a lot of the data are not really helping you in the direction of where payrolls are going we had to lean on alternative data this one source in particular, home base, a company that helps small businessmanage payrolls. it has really helped us to get pretty close to the actual payroll. we are confident the confidence

is enormous. this july print is important this will be much more important. while we saw quite a bit of momentum in june and july, the reality is we are seeing a plateauing in the data next month's print could be pretty ugly. >> home base is a new one we've been talking about showing open table data. tom tom. i'll check out home base as well aside from this number, what is the most important thing to watch? >> in terms of numbers, to be clear. the standard economic stuff is date you this is data relative to the daily home base data we are getting. that's the word of caution with

what i'm about to say with the data going forward you can actually back in to an estimate of what is happening there. we are seeing this plateauing of data it should have been a ripping quarter but we are moving in momentum here. >> that does it for us on "worldwide exchange. i'm off monday see you on tuesday dow futures are up 162 have a great weekend what happens when a wireless carrier

puts its customers in charge? well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today.

president trump taking action the ban on tiktok and wechat

starting 45 days from now. the president considering cutting out congress to extend pandemic relief by executive order. how that could play out. uber shares falling. a massive shift. friday, august 7, 2020 "squawk box" begins right now >> good morning. happy friday i'm becky quick with andrew ross sorkin and scott joe is out on vacation the nasdaq closed above 11,000 for the first time ever. wasn't jus