anything we think those are some of the changes going to happen with the industry going forward >> josh, thanks for joining us to talk about it >> thank you so much >> appreciate your time. >> find body the dow down about 130 points. carl, back to you. >> yeah, the biggest loss of august, so far for the dow good morning, everybody, it's 8:00 p.m., at facebook headquarters at menlo park in california, it's 11:00 on wall street and "squawk alley" is live ♪ ♪ ♪ welcome to "squawk alley" for a tuesday. i'm carl quintanilla and jon

fortt and sara eisen is joining us, working a split shift. the biggest loss for the dow since july 30th. we're back to 34.30. had a pretty good nice opening, john, as we got that trade deal commitment, the phone call between the reps between the u.s. and china then consumer confidence hits and it was just not enough to offset the best number for new home sales since 2006. >> yes some things still creeping higher you see amazon a bit higher. microsoft up about a percent alphabet, too. adobe hitting all-time highs earlier this morning, which just goes to show, there are certain story lines in this market, sarah that continue to do well >> for sure, naturally, the s&p 500 is positive because of those groups communication services, consumer discretionaries, financials are higher and the nasdaq just topped

higher, john, as "squawk alley" started as technology goes green. i would just say on the consumer, this is a mixed picture we're getting. confident was down, all of the components of it, carl, were pretty poor. a lot weaker than expected it comes on the back of what are better retail sales number we look at redbook, in august, they showed improvement that people were out spending again a lot of people are focused on that with home sales up, what, 14%, they're spending on certain things but overall, the jury's still out on the recession, the kind of bounceback we're seeing and the shape of it. >> certainly, one of the things they're not spending on, sara, is travel. for that, we go to phil lebeau >> good morning, carl. let's take a look at shares of american and company dropping eight days, outlining the elimination of 40,000 jobs in the country starting on october 1st. some of these they've already

outlined we've got a number of these figures here, we're going to work our way through them. 12,5 12,500 will take an early package. 11,000 are taking early leave. of this, 17,500 are front line employees furlough two big groups in that, the flight attendants. 30% of flight attendants starting october 1st will be if you recall lowed out of 15,000 pilots at american, 1600, or 11% will be furloughed again, 19,000 jobs will be cut on october 1st as part of the announcement today american ceo doug parker along with president robert eisen out with a note saying we must be prepared for the nation's leadership will not be able to find a way to further support aviation professionals and the service we provide, especially

with smaller communities this is in reference to the discussions in washington about another c.a.r.e.s. act relief package of $25 billion, john if that were to go through, then these jobs that they're saying will be cut on october 1st, well, those employees would stay on the payroll through the end of march and while there is bipartisan support for another $25 billion for the airlines, that's only if we see a stimulus package. and a lot of people are saying what's the odds of that happening before october 1st john, back to you. >> thank you, phil it puts a very human toll on that legislation we will continue to watch to see what happens with that meantime, apple's stock leading to major changes for the dow. salesforce, amgen, honey well joining the market on monday replacing exxonmobil and pfizer ratheon technologies joining me is amazon's greg

greeley. he's currently adviser at capital. >> good morning. >> i want to talk about the current revenue so important to the big tech stocks right now. right now, there's this controversy about the way apple and google manage their app stores and eric schmidt talked about it a little bit on "squawk box. let's listen to what he had to say. >> in china, for example, google does not have a single app store because of regulatory issues and there's always been issues, is the app that you're using certified and so forth i would be careful about breaking up the app store model as it does provide some security and protection we can quibble about how they're managed but the important thing when you use an app store you can rely what's on it is represented to be what it really is think of all of the viruses not

not getting through the app store. >> think of all of the viruses you're not get how much of a risk to these stocks do you think it is that regulation might end up changing now app stores operate >> well, all of the tech players are very nimble. and they're going to be responsive to whatever the regulation that comes in certainly across, you know, the apple app ecosystem, the android app ecosystem, even the mobile web, there's opportunity for all of the players to continue to innovate i would make sure we don't lose sight as to what the users kind of need and want and make sure -- i agree with eric, i certainly wouldn't break up that app store and pose that. but i think there's plenty of opportunities for companies to be nimble and use technology to navigate the playing field >> with the innovation, i'm curious about so much with the profit margins because so much

of what's happening here, you see epic pressuring apple to take a lower cut from its app store. you see various pressures across these certain ecosystems say, amazon's third party is pressuring them on how they're treated. how much of a risk do you think it is for investors that there will be changes that impact the bottom line? >> i think it's -- i think change is inevitable but, certainly, from a standpoint of the profit margins, a lot of these companies are getting tremendous economies of scale so, i think you've got this ongoing tension between the profit margins that i can get. ultimately, what's going to allow them to preserve and continue those revenue streams is to continue to innovate for the customers so the customers are coming to their ecosystem. >> i'm sort of surprised, greg, now, you're in the venture capital world and you're seeing more early stage companies are you saying that companies like apple don't represent a

competitive threat for the companies that you're investing in >> no, it's actually quite different in tapa capital, they rely on that for distribution. there's an ongoing fly wheel for apple. even if the time conditions change across those ecosystems, i think they've got a tremendous opportunity that's coming from investments that are very early-stage innovations. >> greg, stay with us. we want to get to our julyial borinstein who has got news from another tech giant, facebook julia. >> john, facebook is making its biggest push into e-commerce yet. facebook shop, it's a shopping destination on the flag stipulate app. to browse on a similar destination like facebook. similar to the single shopping

destination it launched in july. before this, consumers were only able to shop on facebook either through a business's page or veeial ads on the newsneed on instagram, the checkoutal allowing consumers to complete purchases is now rolled out to all businesses in the u.s. and allowing to sell directly from instagram live and videos facebook will be waiving all selling fees through the end of the year the real value for facebook is getting small businesses to make the platform the center of their e-commerce strategy which would drive ad revenue wells user engagement today, ubs raising its price target writing in a report that facebook's shopp allowing facebook to sell on its properties is a potential $10 billion revenue for facebook in the next five years. and the e-commerce trend as well as the ability for its ads to

drive the e-commerce sales now, that report was issued before facebook announced this new shop destination which further shows facebook's interests in profiting from social commerce. john, back to you. >> julia, thanks greg, you've got firsthand experience when it comes to rolling out e-commerce features. i also think about facebook. they launched facebook watch that didn't really explode on to the scene. marketplace, not sure how well that's done. what do they need to do with these shops to make sure they have kind of a bigger impact than maybe some of the other efforts have >> well, again, i'll be interested to explore what they've done further however, certainly, what, you know, customers across the entire kind of global e-commerce ecosystem are looking for is great selection, great prices. so, you know, from the facebook, they've been dabbling with the marketplace. and, you know, as has google, you know, as google recently also lowered their commissions

and waived seller fees so, i think what you'll see, the pandemic has provided some tremendous tailwinds for e-commerce so, you know, we have to remember, retail is a $25 trillion market globally so facebook has tremendous opportunity to kind of lean in and experiments with different ways of making their marketplace effective. >> so, greg, do you think this is good for, say, a player like shopify or bad for them? because shopify is positioning itself as the central dashboard. the control center for its own business they have their own shop there, they decide whether to send it out to amazon, facebook, where they're going to put up store fronts as well i imagine in one sense, facebook is trying to steal thunder from other marketplaces but on the other hand, the small business that wants to control its destiny and maybe dabble in facebook might need that control center more than ever. >> yeah, obviously, facebook and

google and walmart, actually with shopify on that marketplace. so, i think there's certainly a healthy opportunity for each of them to be successful in meeting the needs of sellers and customers. from specifically to facebook, i don't know about their new announcement that we just talked about, but given the size of the market opportunity with global retail, i think shopify would appreciate, you know, multiple channels to help them serve those small businesses just like, you know, amazon has put a tremendous amount of focus on those small and medium-sizes sellers to be able to provide service, amazon prime, same-day delivery all of the fantastic discovery mechanisms i think you're going to see innovation across each of these players as they really look to see what customers are going to respond to >> so, what about the smaller players, greg? where do you see the biggest opportunity for the type of innovation that's small businesses are going to need at

a time like this, as they look ahead to a q4 which has got to be important to them and is going to look way different than any q4 we've ever had? what type of technological innovation, whether it's software as a service, something else, needs to brought to bear that you think can be effective? >> yeah, i think for most sellers over the next four or five months, it's just going to be about supply chain. making sure they've got the logistics, partnering with amazon and having their own capabilities in place. you know, the growth that e-commerce has seen, 44% in the u.s., just in q2 alone is straining a lot of that supply chain. i think what you'll see with sellers is how they focus on meeting the needs of the customer with delivery and logistics. and finding that audience, the customers are actually out there finding them through multiple channels >> yeah. well, hopefully, small businesses will have some

success, because in this market, they've been taking a beating. greg greeley, great to have you with us, tapas capital adviser facebook up 2.6% after the break, we'll break down palantir, announcing their plans to go public ♪ ♪ ♪ ♪

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tech names joining the fray. dee bosa has more on that. diedra. >> yeah, carl, no less than six filed for public listings in the u.s. overnight, the financials filed to go public in hong kong and shank ch shanghai a few reasons behind the rush, s&p notching record highs in software one of the hottest trades this year the pandemic pushed off ipo time lines at the start of the year and now the november election and potential volatility rabbit stops pushing listings up, creating a sweet spot where we're seeing many names go at once remember, airbnb and doordash have filed here. i want to go to confidential, the biggest ipo of all time. raised by saudi aramco this hasn't happened in the united states, but in china,

despite the nasdaq, traditionally big operations for chinese places to list does everything from the ali payment app. analysts say it could be worth more than $200 billion, larger than a number of u.s. banks. its perspective guide shows in the first half of the year it notched $3.2 billion on profits on $10.5 million on revenue. profit growth of 1,000% year over year. profits, guys, this makes it a bit of an outlier as we saw with the filings last night and we're expected to have lost more than $500 million in leakes john, back to you. it's an ipopalooza i know you like s1s.

>> you love s1s quite a bit. we'll have the snowflake and the ceo of snowflake hormel, medtronic, best buy and smucker. smucker, though, is one of today's. we performers in thes&p 500. we will discuss that with the company's ceo. stay with us when we started carvana, they told us

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welcome back, everybody. i'm sue herera here's your cnbc news update at this hour. the world health organization says getting covid-19 a second time is likely very rare a w.h.o. spokesperson is downplaying the risk, after hong kong researchers reported a man had been infected twice in less than five months in india, rescuers have found 76 survivors including a 4-year-old boy, amidst the ruins of a collapsed apartment building at least five people have died and about 14 remain unaccounted for. the cause of that disaster has not yet been determined. and a number of american workers testing positive for drugs has risen to its highest

level in 15 years. that is according to quest diagnostics. the testing giant says 4.5% of workers tested positive in 2019, indicating employee drug use was on the rise before the pandemic creating new stresses. and there are a lot of stresses with this pandemic you are up to date that is the news update at this hour carl, i will send it back to you. >> all right, sue, thank you very much. when we come back, we'll talk some apple, back below 500, although up 17% so far for the month. tech investor roger mcenmy on what the split means going forward in a couple minutes. of, of, we're here to listen and provide solutions that help you run your business better. because the decisions you make have far reaching implications. and a relationship with a corporate bank like pnc can provide just what you need. as one of the nation's largest banks, pnc brings customized insights and a local approach.

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watching the markets this morning, as we said earlier, dow with its biggest loss into today, since the beginning of august at minus 129. s&p is managing to hang on we're going to talk market in a

little bit, john, with roger mcnamee. one of the interesting things of the morning, the market cap that apple added this month, just added, is more than it was in totality when steve jobs died in october 2011 >> yeah, and the company was doing okay at the time the ipod -- the iphone was already a thing then i mean, we were talking for a long time about how apple and microsoft, to some extent, amazon were running neck and neck, kind of this $1.5 trillion market tap markup. at this point, apple has opened up air distance of about $500 million between itself, amazon and microsoft. you have to wonder as an investor what that means >> with at in nd"sawthmi, quk alley" will be right back.

software company snowflake announcing plans to go public in a way, taking on amazon and

microsoft and google in the cloud database business. the company's revenue more than doubled in the first half of the year to more than $240 million i spoke with ceo frank slootman earlier this year to see how his company is adapting in this pandemic >> we're a cloud company we've been preaching to the choir for the last decade on this and when crisis like this happened, it just becomes more obvious to those who have sort of lagged in the transformation. so if cloud was hot before, it's going to be red hot, you know, once we get through this so, for a lot of industries, this is -- this is really great in the world >> sara, a lot of people will say, because snowflake kind of lists risk factors including amazon, microsoft, google, that

they're competitive with them. but i don't think that's the best way to think about this data warehousing that facebook does, sure, those individuals do that a little by themselves, so largely, snowflake is a little bit more of a play on the cloud trend in general, as opposed to being them versus these particular juggernauts i think about how some companies like an epic that might list an apple as a risk factor that doesn't mean they're going head to head with apple but it just means they're swimming in an ecosystem with some pretty big fish >> although, epic is actually going head to head with apple now. >> it's not like they're making iphones, right >> right, right, right i was going to ask if the big cloud players, the microsoft, amazon, googles of the world were friend or foe for this company. yes, they're competing in the

cloud space but don't they also rely on partnership with them? >> they do it's that frenemy that see then in the space and diplomatic with how they deal with these guys carl >> john, on that very point, our next guest is a longtime apple shareholder who recently did sell a significant portion of his position, citing worries about what he calls external factors, roger mcnamee, of course, elevation partners, early investors on facebook and google roger, we tried to get you on camera, we'll settle for the phone. good to see you. >> good to be seen or not seen >> yes, you mentioned you triggered your position. since then, a 520, another one 530, why do you think the street is changing it you can't be discounting out of hand >> no, quite the opposite. the reasons to love apple as a

business are still intact. my issue here is that uncertainty relative to the market broadly, relative to apple specifically, is much higher than it's been. and on my personal risk and reward calculation, i don't like where we are and i think from apple's point of view, the politics surrounding epic, the politics surrounding china are in many ways beyond their control. that is -- those are factors we have not had to deal with as investors and stock is at an all-time high. so, i look at that, and i factored in, in my own thinking, this has been an amazing ride. i will get another chance at it, almost certainly at some point and i will take my opportunity there. i look at the market i look at the stock split. i realize there's a lot of momentum here. you never know when the millennium is going to end i'm not trying to make a call on that issue i'm just saying that, for me, this is enough it's been a great ride

and it's not just apple that i'm selling. i'm looking broadly through my tech portfolio, and i own a bunch of names and i have been reducing positions across the board, simply because i want to reduce the level of risk i'm taking in the market i've had a year in the market that's been truly extraordinary. notwithstanding what i think is demonstratively the worst pat of my lifetime, and the market is uncoupling from the country, uncoupling from the global pandemic, uncoupling have a deteriorating global situation and craziest politics i've ever observed is on one level understandable, because of the fed and another level, a source for me an opportunity to convert to cash and just to step to the sideline while things shake out

i may be giving some upside away here, but i'm okay with it >> right i think that's interesting, on two fronts one is, i'm curious to know where else you're trimming if you're willing to share that with us. and, second, the answer to the rejoinder we always here is that cash, cash is trash in this environment. why does it seem relatively attractive to you? >> so, carl, if i look at this and say i'm not making any return on cash then again if i'm in t-bills which i'm in, i'm unlikely to lose money and from my perspective, my fear is from of the down side right now. i'm not -- you know, there are periods when dead money is the best you can do. and that is the case i'm up against. and i may be wrong, and i'm perfectly willing to take that risk simply because my personal risk and reward is that way in terms of -- i probably own, i don't know, 20 different tech

stocks and i've taken something out of almost all of them so that means i've sold amazon that means i've sold some ebay and paypal and, you know, netflix, alibaba, you know, it's been a broad list. and again it has nothing to do with anything else it's just a market call. >> i was going to ask you, roger, about the regulation. because you have always said that apple has the least to fear when it comes to regulation. and regulatory scrutiny. i think you joined us on the day that those ceos were facing congress in terms of their hearing. do you still feel that way, even though this war against some of the developers have gotten bigger and more public >> actually, i'm not so confident as i was and the reason i'm not confident is i think the political side of this is a much bigger factor than i had recognized on the day of the hearing when you look at antitrust on an

issue of harm to consumers, when you look at it relative to restraint of economic activity and innovation, apple doesn't look anything like google, facebook or amazon it -- you know, the issues that it has look like issues we see in sectors like cable television and telecom. which is to say, they have huge market power and they use it to maximize their profits but in doing so, they don't actually deny people access to their market, so long as people are willing to play by the rules. and the consumers don't actually see the cost of that and that struck me as a good argument why they should be treated differently. the politics of what's happened first with hay which was an email system and then with epic, are, in my mind, little guys versus big guy and on that, apple risks coming out looking badly.

and i don't know how that's going to turn out. i actually think legally their case is solid. but i'm not sure legal issues are going to be what decides the outcome here and in an environment where i'm nervous about the market in general, it was my largest position and so, i had to go there. and, again, others are going to make their own choices and that's exactly why we have markets. >> so, roger, i want to understand your thinking a bit more here. because if it's apple versus nothing, that's way different than you saying, well, i'm going to sell apple and i'm going to buy this other thing because i think it's got better growth prospects over time. are you really more saying, you know what i've got enough money. i've had a great run you know, pigs get slaughtered i'm going to take some off of apple right now. it's not so much a call on apple having topped out, as it is you being satisfiedright now and feeling like you can put some more money in later. >> that is exactly where i am.

that isn't just apple, that's the whole gang, right? and i look at the current market environment and say, you know, i -- if i somehow were magically frozen in t-bills for a couple years, i'd still be okay and if the market gets disrupted by, pick your poison, right, is it politics? is it china? is it covid? is it the broad economy? i have an opportunity to lose more money than i have time to make up. and i'm old enough that my risk tolerance is a lot lower than it used to be so, i am sure among our viewers there are people in my demographic and older who, you know, have done very, very well. it's been an amazing market. and knowing when to step to the sideline is -- that's a very personal thing but it can have a huge impact on your long-term returns

and, you know, i remember 2007 having that feeling, after beaid stearns was shut down. in 1999 when kline made the investor and march that stewatha stewart. and i thought, oh, my, it's go to be a disaster every once in a while i get these feelings and i act on them by the way, i've had feelings where it didn't below up i'm not a perfect forecaster but when you add it all up, you don't need to miss a lot of bear markets to enjoy a better life over time, right >> sure, sure. >> but if you miss, that's always a good thing. >> roger, we really appreciate, i mean, you're so candid and honest and transparent about your

personal stuff which we investors and viewers benefit from thanks we've got to go. talk to you soon >> love you guys, take care. after the break, the ceo of jam smucker on his company's earnings and guidance boosting the stock. 8% right now. stay with us on "squawk alley. apps are used everywhere... except work. why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business.

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stock of the morning, shares of jm smucker surging after beating on both the top and bottom line in terms of estimates. the company raising its full-year forecast joining us now to talk about what's driving it the ceo of smucker, mark smucker. thank you for being here >> thank you for having me >> what did wall street estimate on the quarter as they got so wrong on your estimates that caused your stock to surge today? >> well, you know, i think we spent our time focusing on customers and consumers. and, you know, we anticipated that this pandemic and a slow return to normal, with the second wave of, you know, several states shutting down we did see some increased business across most of our categories, notably, coffee, with our folgers brand, jiff

peanut butter and the peanut butter and jelly >> is it tied, mark, to the shape of the virus curve and, therefore, is it sustainable here as we've seen a pretty steady decline in terms of case numbers in our country >> yeah, we spoke on the call this morning about how roughly two-thirds we can contribute to the pandemic but the underlying growth of the business is strong what's interesting as well, as consumers are staying at home, they are forming new habits. so, if you look at coffee, 1.34 million new households we gained in coffee alone. most of that is folgers, consumers not going to t g tingo drive-through to get coffee.

brewing coffee at home our job is to make sure we can get those habits to stick and use targeted marketing to make sure we can do that and keep consumers in our brands. >> how do you do that, you're talking about marketing and advertising to, say, younger consumers to folgers, is that what's happening? >> well, actually, if you think about 1.3 million households folks are actually rediscovering brands that they may have lost touch with over the last several years that isn't necessarily tied to age. it's really about those habits and so what we're doing is primarily -- it is advertising we actually have new folgers advertising launching this week that is very relevant to the current situation. and then we're using some new technology and data to specifically target and try to find those consumers that are new to the franchise new to the folgers brand and push unique and targeted messaging out to them. >> what about peanut butter and

jelly, mark? what are the trends there like, especially on peanut butter where there were some concerns, i know, from the analysts, about losing market share there? >> let's face it, pb & j sandwiches, it's a comfort food. both peanut butter and jelly are on fire. we've been selling all of the peanut butter that we can make part of the reason you saw as a downtick in shares at the focus of our customers really focused on making only those skews which were core to the franchise we're now back on shelf with a fullal sortment of jiff peanut butter and even in the latest four weeks we're seeing the share growth return. it's just a comfort food that americans want and need. so, we're serving that need. >> you sort of brought up manufacturing. we're looking at the line. what have we learned, mark, what have you learned, about the food supply chain in this country

during a pandemic that might help prepare us for the next time that happened or maybe it was a good story in that you and other food companies were able to keep the shelves stocked, even amid the panic buying >> yeah, it was predominantly a very good story. i think what we've learned is that the united states has the strongest and safest food supply chain that we know of. and our employees, you know, it's key to protect them we've spent a lot of time and effort making sure that they were comfortable coming to work, that they could continue to do their jobs, in a way that was safe for them. and really just ensuring that we can run our plants at the maximum capacity, and that's why we narrowed our skews for some period of time, so we could make sure we could produce enough products for the nation. >> i wanted to also talk about your away-from-home business which has been hit pretty hard as a result of the pandemic? what's happening there, as

restaurants some schools do start to reopen, and other businesses that you provide food to >> yareah, sara, well, there's question that business is down particularly lodging and restaurants have caused a downturn and we felt that, you know, we performed a little better than we expected. we've actually maintained our share where relevant i would highlight that uncrustables is a bright spot because school feeding programs did continue throughout the summer and now into the fall so uncrustables have fared fairly well in the away from home business. >> cat food, i wanted to ask about that which is the other part of your business. what's happening there on the trends in terms of market share, in terms of people stocking up like they did in the beginning of the pandemic for their pets. >> yeah, so the stock-up did take place wand we're seeing a destocking in dog food. if you look at the entire dog food category that category is

down slightly. it's very unusual. it hasn't happened in several years but the entire category is down consumers are working through your pantries of dog food. but let's face it, pets eat at home all the time. you know, so the trends generally speaking in the pet food category have remained relatively constant. but where we have seen upticks is in pet snacks, since we're hope more, we're treating our dogs more. we're treating our cats more we're giving them those extra snacks clearly, pet snacks are doing great. and we've actually seen a very strong performance in our cat food business as well which is less related to the stay-at home but it's nonetheless, performing >> and finally, mark, we just got a consumer confidence read from university of michigan. six-year low and that was a pretty big disappointment are you seeing any impact of consumer spending differently as

a result of the extra unemployment benefits wearing off in the last few weeks? has that made any real change in consumer habits and spending >> you know, sara, i can speak to our industry, and really, we are not. you know, where consumers consug discretionary spending, there's less of that folks are really focusing on making sure they can feed their families and that's really why our industry has been fairing very well during this time >> why do you think your valuation has been held back and do you think your communication around this quarter and the last few quarters you've seen, it's going to change the trajectory >> we make sure we can meet our x seed our targets and that's what we're doing

>> thanks for joining us appreciate the time. >> thank you for having me later today, don't miss the acting chair of the cea from the white house. tyler goodspeed. strong on housing but as i mentioned weak on consumer confidence we'll talk to him about what's driving that 3:00 p.m. eastern time we're back in two minutes.

welcome back fit bit launching new products including a smart watch that can manage stress and take your temperature.

joining us is fitbit james park. we'll talk about your new products and how things are looking in this pandemic there's been some regulatory questions, least, if not flat out challenges how are you feeling about the likelihood of this going through and fitbit's prospects if it doesn't. >> we still expect the deal to close some time in 2020 and obviously we're working pretty closely with regulators throughout the process i'm still very excited about the deal >> tell me about what health care means now, which is something than it meant last year how as your business and people's interests in having a real look how they're doing changed during this pandemic

>> it's very clear that health is at the top of mind for many people it's very relevant the fact some of our products are lun aunching this fall it's the first to put with eda sensor to help people with stress management along with pcp and maybe a little more relevant >> how do you think that will help people and what the limits are in helping people at this time as they seek to know early whether or not they might be sick >> there's a lot of different health metrics that change as people get sick with covid-19. it could be a component of that including temperature. other metrics like respiration rate all of these things this fitbit

sense track. one of the more exciting things that we hope to launch is we did a big study which you mentioned earlier with 100,000 participants early results show that fitbit devices can detect 50% of positive covid 19 cases a day before symptoms start. >> it sounds like you're trying to ride that window where people, interesting period, maybe hours will people suspect they might be sick but can't really put into words the symptoms they are beginning to basic press. >> i think this is all about making what's invisible visible and earlier for people even that short window of time can have a

profound impact on people's health and course of diseases like covid-19. >> supply shanes around the world have been severely impacked impack -- impacted by covid-19 we really had to scramble. consumer demand is still staying strong >> fitbit has functioned inside the app itself for people. do app stores have too much control today over mobile distribution >> i think it's important for

whoever is operating these app stores to maintain a level playing field for all the participants, including themselves and to maintain competitive landscape. when it comes to health care, really critical a lot of the services are available to as many people as positive. >> i can't go into the specifics because i don't know the cost it takes to operate an app store. >> all right the co-founder of fitbit thank you for being with us.

>> thank you carl, as we look at what the markets are doing so far this hour, not a ton of large movements here dow is down about half a percent. s&p about it break even. nasdaq doing better than the others seems like i'm saying that a lot these days >> yeah. as we watch some of the squirrely rotations going into the end of the month it is interestingly, jim made the argument rightly, this morning, that the dow doesn't have a ton of money index to it like the s&p does. we'll get some pick up in the pace of earnings tonight that's going to pick up. >> the best performers in the s&p outside of jm smuker and gap which could an upgrade from citi

and doubled the price target we'll look for the sales force numbers after the bell which have been very strong beats in the past few quarters. >> yeah. we'll pay more attention to laura which has achieved hurricane strength someone who knows the emergency space well, let's get to sully and the half >> thank you very much we will hit that hurricane as well welcome to "the halftime report." maybe the question for your money, maybe the only question now is how long this juggernaut of a stock market can power on today, a pause technology mostly higher the dow is lower that may be because of that big change coming. we'll get more to that all of this comes as one of our traders makes a bold move on apple and another red hot high