here are your "top five@5" could september usher in a wave of turbulence. kicking off astrazeneca and the next round of covid-19 trials and we continue on the tiktok watch as it reveals its preferred suitor the aluminum boom. prices are on the rise for the

demand and saving live music helping independent venues and theaters across the country survive. it is tuesday, september 1, 2020 you are watching "worldwide exchange" here on cnbc good morning i'm frank holland in for brian sullivan the markets kick off a brand-new trading month. stock futures slightly in the green here the dow jones looking like it will pop four points nasdaq on pace coming off a winning streak. seven out of the eight days. the dow and s&p wrapped up the

best august. similar for the s&p, rising 7 percent e for the fifth straight move gains the story continues to be all about tech nasdaq surging 9 #.5 in august for the best monthly performance since 2000 taking a look at the bond market and the yield trading around .723% and the 30 year at 1.5% we continue to follow the markets, let's go worldwide now. to julianna tatelbaum. let's get a look at the global markets with you how are you? >> i'm doing great we had a strong start to trade here in europe benchmark opening higher we have now come off the highs of the day it is a more mixed picture we have the german index trading. in italy, we have the market holding up as well

trading in the negative territory. the uk up about 1.2% we have a little catch up trade taking place in the uk the majority of the markets did trade lower. we have the pmis, manufacturing and more trading in europe in spain and france contracting. germany siege mixed numbers as well big divergence here. technology leading higher up about 1.3% down side travel and leisure down banks take ago a hit about 1.6%. mixed picture sector and regionally in europe lastly, i want to give you a look at currencies we have seeing a strong bid for sterling and euro on the back of weakness for the u.s. dollar

back to you. let's get a look at some other top stories this morning contessa brewer has a look at those. good morning >> the trump administration is facing tough accusations of undermining efforts to fight covid-19 releasing documents that show top white house officials publicly down played the threat of the virus even as the white house task force on the virus privately warned state officials they face dire outbreaks over the summer published eight weeks of internal white house reports prepared by the task force and sent privately to governors. in a statement, the chair accused the president and enablers of keeping these alarming reports private rather than being straight with americans. astrazeneca begins the final

staged trial of the covid-19 vaccine in the u.s. and plans to study 30,000 adults. the company says the final phases of testing in the united kingdom could reveal preliminary results as early as next month >> and a new lawsuit for mcdonalds from black former franchise owners accused of denying them the same opportunities of white counterparts and claims mcdonalds directed them to economically depressed and dangerous areas where low sales, high rent and operating costs guaranteed them a failure. over 200 stores averaging between $4 million and $5 million in damages per store the dow and s&p 500 posting the best gains but historically,

september is the worst month of the year the only other month to average a decline over the same period is august. uncertainty over the election could weigh on the markets with potential for even more volatility good morning, dory >> good morning, how are you >> thank you for being with us we have two big uncertainties right now. the election and when this uncertainty will end what sectors do you think are most impacted? >> all of them, really except for tech. tech goes up no matter what. that is sort of dangerous. you have five stocks pulling the market there is not a lot of breath or support. the market is dangerous right now. it's a good time to hang out and

value stocks i'll be very, very careful about being overextended in stocks given all the uncertainty and election coming along. i don't expect this to play out to any sort of normalcy until after the election >> i see here you believe bank stocks leave down turns and up turns. especially in recent months, tell us where the economy is heading in the second half of the year >> even if you don't want to invest in bank stocks, you should watch them. they lead to down turns and tell us what is going on. surprisingly, the banks are doing very, very well. leading to anticipate loan problems and propping up loan losses they've done really well with ppp. the community banks are doing

excellent. i expect them to weather this and do pretty good you can get bank stocks at lows. you'll have all kinds of chances to buy good quality bank stocks 3 to 6 months at a minimum at the same time, it is not a bad time to hang out >> you said we'll have a credit wave coming in covid-19 shock and uncertainty, how does that impact the credit market >> the election will be just an anticipation of policies the market doesn't like change more than anything i'm not sure the biden administration is priced in to the market that will be an adjustment there until the market gets used to it that is more bullish on the

republican administration for policies at the same time, we've got a big debt overhang out there in the market the multiples are really high. the investment grade multiples are 3.5 ebita. higher than in the 2000 recession and in the 2009 recession where they hit three at a maximum there is a whole lot more debt now in the below investment grade and those are even worse >> back to the bank stocks, you seem to think they are leading indicators of the down turns and up turns but we are facing a lot of unemployment. are they still a reliable indicator of what is to come considering the other shocks >> i'm not willing to throw out 100 years of data on bank stocks banks have been around for thousands of years banks are underwriting credit

better than they were in 2000, 2009 you may have had 90% loan to value in 2009 and now you are having 40, 50 or 60 depending on the bank you have to look at the bank and credit they don't publish the data. they do homework on the credit and underwriting they have a whole lot more capitol and diversity. what types of real estate they are close to >> we'll continue to watch those bank stocks. thanks for joining us. when we come back, a look at stocks to watch including zoom showing no signs of slowing down and we'll go live to china for the latest on the bid to buy tiktok's united states

operations airlines cutting unpopular fees that's still ahead when we return ♪ ♪ i keep working my way back to you, babe ♪ ♪ with a burning love inside ♪ yeah i'm working my way back to you, babe ♪ ♪ and the happiness that died ♪ i let it get away servicenow. the smarter way to workflow.

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only with xfinity mobile. welcome back a live look at washington, d.c this is the capitol where lawmakers have a lot to consider as we try to keep our economy on track. a look at some stocks on the move today zoom reporting second quarter

results. revenue quadrupled raising outlook by 30% shares are up more than 27% in the pre-market and nearly 500 this year. don't miss the company's cfo on "squawk box. kodak discloses d.e. shaw takes 5.2% stake the loan is under scrutiny and on hold. >> tesla stocks shot up following the five for one stock politic boosting above $461 billion passing visa to become the world's seventh largest company. >> we could be learning which

company bytedance is exclusively negotiating with we go now live to china. >> good morning. how it stands, you've got the team of microsoft and walmart versus oracle in the other those companies are the front runners. there is a large dark cloud over this entire deal in the form of china and moves it made last late week and changed moves around export restrictions adding technology that relates to technology on the list. that means any technology that needs to be exported will require a license from beijing in order to happen there is no guarantee beijing will grant this license to the extent china will step in to play on this deal. that is the uncertainty around

what is a very complex situation. what i mention, the two front runners. those teams and a lot of eyebrows jumped in on the bid that it doesn't have a past opportunity. on the other hand, we've seen microsoft dipping their toes back in to the consumer space. walmart also suggesting any deal could boost. as it stands, it is a two-horse races with those horses quickly approaching the finish line. back to you. so question, what kind of affect could restrictions ultimately have on this deal >> some commentary we have suggesting any deal involving bytedance would inevitably fall

and require license from the chinese government it is hard to get a read out if they did sink the deal, remember there is a september 20 deadline it needs to be closed by if not, tiktok will be banned in the u.s. and bring its valuation lower and hurt bytedance, something i doubt the chinese government wants despite the continued pressure, it does have tool to push back the export list, which, mind you, it hasn't been amended since 2008 that is a tool that can be used similar and the u.s. is around the technology pushing back against some of the pressure that the urs is piling on at the moment in terms of technology >> a lot of moving parts there thank you for the latest still on deck, walmart tries to take on amazon in delivery

business and a break down of how walmart plus stands against prime. >> announcer: today's big number, $28,904.96 that's how much one share of apple would be worth if the company never split its stock. if y houad one share before the split, you'd have 224 today.

welcome back, 5:20 in new york city. not far from where normal times would report brian will be on "squawk box" this morning and all week, actually let's get a check of other top headlines with phillip mena. great summer sweater >> good morning. thank you. the race for 2020 heating up joe biden accusing president trump of stoking violence from handling of the pandemic he condemned the violence in portland and wisconsin the president is heading to kenosha today despite the mayor urging him to stay away. in bell a ruse, hundreds of thousands have protested what they call a rigged election.

several pole workers described several instances of fraud one signed a document with falsified results. back here at home, nfl taking over investigation of accusations of sexual harassment and misconduct within the washington football team publishing a report of allegations from 15 former fee maim employees the commissioner spoke to the team's owner about that move those are some of today's top headlines. frank, back to you >> a lot of changes for that washington football team hope to see that season kick off this summer. still ahead, president trump sent ahead to kenosha following the police shooting there as the wisconsin governor urges him to hold off new hurdles for jcpenney and potential buyers

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only with xfinity mobile. september off to a strong start. pointing to a higher open. walmart unveils membership and a shortage of aluminum could mean big for investors

it is tuesday, september 1, 2020 you are wauchling "worldwide exchange." welcome back here is a look at how your money and investments are looking as we are half way through this 5k hour stock futures in the green it looks like stocks are posed to pop and will also open the trading day higher after the dow and s&p wrapped the best august in more than 30% the dow up and s&p rising for the fifth straight months. the story continues to be all about tech surging 9.5 in argue for the best performance since 2000. in asia, stocks were mixed in august, it beat expectations.

stocks in europe are kicking off september on a positive note on early trade there. turning now to politics and the white house. president trump scheduled to travel to kenosha, wisconsin today. eamon javers now with the controversy around that visit and what we can expect >> good morning. the president expected to leave the white house about 10:30 this morning on his way to wisconsin. the president brushing off suggestions by the democratic governor there in wisconsin and the democratic mayor in kenosha. they've requested that he not travel there this week given that they argue his presence could intensify the tensions there amid this change in the presidential campaign as both candidates seek to point blame at the other for what's emerged as a trend of political violence in the country

the president yesterday saying it is joe biden's fault. >> for months, joe biden has given moral aid and comfort to the vandales repeating the lie that these are peaceful protests these are not peaceful, that's anarchy. look at at looters and rioters that's not a peaceful protest. >> joe biden harshly criticizing the president saying it is the president's job to lead the country now and criticizing him for failure to call out the violence among his own supporters this is what biden said. >> he may believe lobbing the words law and order makes him strong but his failure to call on his own supporters to stop acting like an armed mallitia in this country shows how weak he is does anyone believe there will be less violence in america if

donald trump is reelected? >> we expect the president to tour some of the damage in kenosha and to make remarks at a local school there he'll be back in washington this evening. >> we saw the president go to louisiana. he went to a county that actually voted for him is there any political gain for him going to wisconsin when leaders have asked him not to come >> sure, wisconsin is a state he would like to win in november. what he's hoping to do here is highlight the idea that there has been violence in the streets. this is not, as you heard him say, this is not just peaceful protest. the president is betting that a lot of suburban voters will see this and be afraid to see this spread and that we hope president trump will be the guy to put a stop to this. >> hard to not notice we saw joe biden in pittsburgh.

he's on the campaign trail any plans for him to travel to kenosha as well? >> we don't expect him to travel to kenosha anytime soon, not that i've heard of but they expect joe biden will be out on the campaign trail more vigorously after the restrictions on his travel we do expect biden making more campaign-style stops in the days to come. >> thank you now to other top stories with contessa better than big mama >> well done, frank. if you can't beat them join them. delta and american joining united dropping ticket change fees the industry brought in $2.8 billion in cancellation fees last year this year, it's trying to coax more people back on to those

planes and hoping that fewer fees helps walmart is launching a subscription based membership program that will cost $98 a year or $12.95 monthly users will get discounts on gasoline and access to an app that let's you skip the checkout line in stores unlike prime minister, members will need to spend at least $35 on an order before free delivery in washington, d.c. news, a house panel has opened an investigation into federal contracts negotiated by peert navarro. they launched the inquiry after cancelling the $646 million ventilator project with phillips >> i don't know if you are a prime user or not, if you are,

would you consider switching to walmart plus >> number one, remember when amazon -- maybe they still do -- i've been a prime member a long time but you would have to spind $35 to get free shipping they want you to pay a subscription for that. you don't get the video content with amazon prime. remember, they have all this original content on amazon this app that they are talking about where you can go through and scan the items and skip check out. sams already offers that, which is already owned by walmart. it works great i don't know why everyone hasn't rolled that out. it is such an advantage to reduce your face-to-face exposure >> interesting point, that amazon prime tv. i'm a big fan. as you mention, you don't get anything but maybe tiktok with

walmart plus we'll have to see how that plays out. >> that's true >> have a good morning turning now to an unexpected pandemic winner, aluminum. consumers began stocking up on large packs of drinks post of which packaged in aluminum leading to a spike in demand aluminum cans skyrocketed in march. our next guest says throughout his 22-year career, he's never seen demand this strong. joining me now, the largest maker of aluminum cans good morning >> i've got to ask in a tech heavy market, your stock becoming hot up 56% from the march low. how has that pandemic changed your production demand >> we are a fortunate company. we've been deemed essential from

the get go products we make will be the products we have you mentioned about sustainability the world has shouldered into it most people don't realize that 75% of all aluminum ever produced is still in use today the average can you pick up has over 72 to 73% recycled content in it. it is the most recycled container. we've seen can demand become very 12r07k. it accelerated 24% in march and been up midteens every month since then it makes a lot of sense. people drink cans at home. they've been stockpiling their favorite alcoholic or nonalcoholic beer. that has been a benefit to us. >> can these trends benefit. if people are stocking up now, do you see this trend

continuing >> we have anticipated not only here in the united states but globally, our can volumes have grown around the world call it 2% to 3% over the year it is over the next 7 to 10 years, doubling and we look forward to 6%. we've had a short-term spike because of the pandemic. reality is that all of the trends are focusing towards consumers moving towards recycled aluminum containers one-third of new beverage skus were used on new cans. by 2019, that was over 60% in 2020, it's over 70% that is driving this demand in addition to pantry stuffing. you think spiking skelters, wine

in cans, coffee in cans and even traditional beer and soft drinks you are seeing more cans it is good for us. >> you mention stocking up, cans are heavier than some other ways of transporting beverages, has that helped or hurt? >> cans are the lightest way of transporting beverages it is just that the bef raverage itself is heavy. we have not seen a large-scale shift online whether still water or other things. i think there's a role for that as we go forward as you mention, the weight, you outweigh the truck they are not able to get as much on the truck i think it is a net plus if everything went e commerce on

the beverage side, we'd be a winner in that glass is heavier because of the way it stacks, it stacks more efficiently than pet bottles. >> with one thing i notice, you are based there in colorado. spoken a lot about the volatility how does that impact your business during the trade war, there were tariffs on aluminum. there is word about more tariffs coming from mexico and canada. >> for more part, our business is a pass through model. we are able to pass it on. it has been challenging. look, i understand the policy reason why they implemented aluminum the industry for our packages hasn't invested anything there is a shortage right now. with the growth and no capacity

going in, there is a shortage. we are forced to go outside. the intent is to create a situation. that forces us to go outside the borders. we would love to provide all of these in the united states but there is just not enough capacity we pass it through to our customers. >> you hit us with a stat. correct me if i'm wrong. 75% of all aluminum ever made is still being used that's amazing how does that impact stock and demand from customers? >> i think consumers for the first time in a long time are waking up to the reality pollut. the world is sitting home seeing

what we are throwing out seeing the waste and single-use mindset. aluminum is the only thing in the beverage world that has economic value in our recycling stream that's why 75% of it has been used over and over you can take a beverage can and within 60 days, you can throw it away, collect it, melt it back down and within 30 days it is back on the shelf. no other package does that as we become more aware of the environment we live and our responsibility and the aluminum scrap has economic value where others do not. that plays for the perfect material for beverage containers >> ceo for ball corporation.

thank you. coming up, let the music play. we'll tell you about the big push to keep independent theaters open across the country. i won't try to sing again. ford will reportedly cut 1,000 salaried jobs in america as part of a global restructuring that started two years ago. an attorney for jcpenneys says talks about a buyer have hit a stalemate. top lenders will make a credit bid to own the company as a stand alone entity to avoid liquidition. former mcdonalds black business owners. the 52 claimants say they lead them to areas where rent and operating costs lead thetom failure. stay tuned for more here on cnbc ♪

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both remain in limbo i'm joined with hank sacks a booking agent and part of the talent organization which has been lobbying for approval of both of those bills. >> good morning, frank >> how has the pandemic changed music community and local communities? >> live music is a corner stone of american culture. live venues are places we have made life-long memories. venues are going out of business on a daily basis banks won't lend money to life event businesses because they know our businesses are shuttered. our businesses were healthy before the pandemic.

combined with restrictions based on mass gatherings we need help to be viable on the other side of the pandemic our only help right now is government assistance. >> let me know if i should keep my day job >> keep your day job. >> how do those closures impact musicians and bands, they are technically small businesses themselves >> exactly artists start small. no band is born playing arenas it takes years of hard work. most starting at small clubs that hold up to 100 people, often losing money for years sleeping on people's floors eating ramen noodles, they love playing live music some of my bands will have no choice but to leave the business

and find other means to support themselves and families. it's really a tragic moment. >> we reference some legislation that would provide the restart act. how would that impact venues and musicians themselves >> save our stages provide live impact and the teams that support the live music business with the funding with he need to keep the lights on the next few months as venues remain close. live music is a fraj ill eco system we'll need help to make it to the other side here. >> the other impact on local communities when people travel to a venue, how does that impact the communities in the short term and long term

>> we all know venues built in rough parts of town and over time, more businesses move in. the venues hope and real estate prices go up if those venues were to close and bands lose places to play. they are not going to be able to come back there. the real estate is so valuable at this time, that would be sold to developers and condos would go up and there would be nowhere in american cities for venues to come back. >> i'm seeing a stat, every $1 spent at a local venue, $12 is

spent in the community with restaurants and hotels and such. how can people support your business to keep that economic activity going >> we are asking people to call their representatives. go to our website to the take action page. call your herepresentative tell them to support save our stages and the restart act tell them you want live music. so that it is here on the flip side of the pandemic >> thank you very serious situation for a lot of artists and venues. can i still send you my spotify link my demo might impress you. >> text it to me coming up, september has the worst track record for stocks. this year will be different. we'll ask our guest next you can always watch or listen

to us live on the cnbc app stay tuned to "worldwide exchange" here on cnbc

5:55 on the east coast beautiful look at downtown chicago. you can see the tower where the chicago tribune was once printed. now for a look at futures. we are taking an early look. the dow posed to pop as the s&p and nasdaq in the green. nasdaq looking to be up more than 130 points. dow and s&p posting the best

performance in decades our next guest is bullish on stocks even as history says september is the worst month of the year for equities. the chief strategist at oppenheimer. >> good morning. >> i'm going to call you out a little bit you had a price target, crossing the 3,500 mark you pulled that back because of the pandemic why didn't you reinstate it? >> simple, it would have been hard without coming out with an unrealistic multiple we remain bullish. outperform rating, technology, consumer discretionary industrials and financials since the start of the year. we stuck with that through the crash. through the recovery but related to the suspension of the target we think at some point, the

market will say, wait a minute, based on earnings, they haven't caught up with the stock prices. that said, it is higher for the markets here prone to pull back on any catalyst overall, things could look good. >> clearly, the rise could happen what surprised you about the rise to 3,500 do you see >> we didn't expect you would see the capitulation we would see morning bears and nervous investors. you look at it with the 10-year treasury and the levels it is trading would indicate to us, bonds are very little competitions for stocks right now. monetary policy favors equities. the rescue efforts that so far have been done and what is

likely to have been done from washington favor equities. the return to the office favors equities in as much as it will be a return to the office partially. >> you call it the contrary yan pick but a lot of others say those bank stocks are prime to pop as a lick csic cyclical. what do you need to see? >> a combination of what you mentioned. we have begun to see from chairman powell's remarks from last week. also, if we get a vaccine. the risk for covid is an overhang the concern if you get an up tick in defaults you see banks asked to increase reserve. if we can just make it through

this period to the vaccine, we think financials will get their day again. >> beyond tech and health care, are there other sectors that are bullish right now? >> tech, health care, consumer if you look, best month for information technology for the best august in a long time up 11.83 consumer discretionary was up 9.43 consumer services up 9.85. a lot of sectors on the move here the valley is broadening from day to day, depending on the rotation as the markets churn, you do see small caps and midcaps come back to favor it is kind of a gain between large caps, smalls and bids. as we move toward economic recovery as we expect to happen

in 2021, you will see equities continue to rise >> the best performing sector, if you are an investor, should you be chasing stocks. they are consumer facing is that the only one we can count on right now >> what's the story here a combination of technology, science, monetary policy and what the people want is with the recovery as soon as you saw the openings beginning to happen. they wanted to go out to the bars and restaurants they wanted to go shopping and get their kids back in school. you need to be broadly diversified. don't chase stocks, be selective and within the beta portion or using etfs be diversified. we believe professional advice helps. so far, we've seen it work very

well with the situations know who you are and what you own. have a certain tolerance for volatility it won't leave wherever there is risk or wll hainty. >>e'ave to leave it there. sorry to cut you off "squawk box" will come up next give you my world ♪ ♪ how can i, when you won't take it from me ♪

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good morning, the dow and s&p logging their best august in decades. we'll get you ready for the first trading day in months. zoom shares soaring we'll show you the move that tesla stock sending musk to the top of the

list of richest people "squawk box," september 1, 2020 begins now good morning, everybody. welcome to "squawk box" here i'm becky quick with brian sullivan and willford frost. >> thank you for being here. we'll look at the markets this morning. the dow climbed 7.6% that's the best move it has seen in 16 years. go back to august 1984 similar story for the s&p. best gains it had seen in 14 years back t