it is 5:00 in new york the september stocks steams on technical levels get breached. call it the tug o war. we'll layout both sides of the market and the rational of each. see what ubs market has to say we want to hear from you elon musk takes to twitter to ease concerns ahead of the first ever battery day

going after one company that is very close to home >> we are closing to a working vaccine than you might think so says biotech expert here with us on this tuesday, september 22 this is cnbc. good morning good afternoon good evening welcome wherever in the world you may be watching. it is a jam packed show today nasdaq futures with an implied open actually in the green this is all ahead of another downed day and major average the dow dropping another 500 points for the third day in a

row. the first four-day losing streak since september. the nasdaq is on pace for the worst month since march. index now down 8.5% since the first. if we lose more than 10.8%, it would be the worst monthly performance for the nasdaq worse than the march lockdown month. it looks like nelson may have nailed it. he sent out a note saying the nasdaq could fall 20% because it was just too overextended. >> speaking of all of the stocks in the index, only 10 are higher in september they include zoom, seattle genetics, align, moderna zoom up 44% this month stocks up more than 500% this year let's go around the world and

get the european trade julianna tatelbaum is here with new concerns perhaps about some covid-fuelled re lockdowns in the uk and other parts of europe >> that's right. we'll first kick off with the asian sessions where we saw stocks kick off lower. the heavy selling we saw here in europe with the main benchmark plunging 3.2%. coming on to the trade, we are seeing a bit of recovery for the most part where they continue to underperform we've got the ftse 100 trading six basis points and the uk firmly in focus. we are looking at renewed focus on limiting social interaction yesterday, the country's chief medical officer said if cases it in to rise at the current pace, we could be on track to see

50,000 cases a day by mid-october. now all eyes are on the prime minister he's set to address the house of commons and the nation tonight further restrictions are expected let me give you a look at the newspapers or the report saying uk slammed into reverse work from home, pubs will be hit by a 10:00 p.m. curfew. police to crack down hard. the daily tell grahegraph, lockn begins new 10:00 p.m. curfew for pubs and restaurants. this morning, the bank of england and the governor saying they stand ready to support the

uk economy back to you. >> i love your headline. the second lockdown begins, 10:00 p.m. curfew for bars the bars still aren't open here. in new jersey and new york, you can't go to a bar. you can go to a restaurant with 25% capacity i love how you are like, the second lockdown. we are still waiting to go to the bar. we never left the lockdown >> it is extraordinary the differences in terms of how the government has approached this a 10:00 p.m. curfew is big for us brits >> at least you can still go your second lockdown is less lockdowny than our unlockdown. i don't even know what that means. thank you, julianna tatelbaum. and a look at capitol hill

with bertha. did you flee the bars at 9:59 last night >> you know, i haven't been to a bar in a long, long time i don't really miss it one of those things. i go to bed by 9:00 any now. >> jay powell and treasury secretary manu schnuchin will ar before the committee focused on the c.a.r.e.s. act passed. it is expected powell will say many economic pointers have improved by remain well below their prepandemic levels and the path ahead continues to remain uncertain. >> president trump will likely

nominate a replacement to the supreme court by saturday. justice ruth bader ginsburg will lie in repossess on saturday quibi exploring strategic options including sale looking at a americaer with spak the company founded by jeffery katsenburg people that are not commuting are looking for the short form >> i read that quibi was looking to sell for $2 billion my first question was, what is quibi. it is this short-term video thing. i think you are right.

i think watching people dance for 10 seconds on tiktok took the attention away back to the markets. it has been a september to, well, forget wild swings. rising volatility and frayed nerves all around. that's what makes the market on each side of the tug o war on each side. the bears will point to rising china tensions you've got election risk contested election the fight over ruth bader ginsburg's seat and whether that leads us to a new stimulus package. when it gets cold, cases will rise the bank probes in the big find over the weekend all of that is true, so are you sold hey, not so fast

the bulls will punch the bear back with these ideas. we are going to get a vaccine. maybe not this year but next and we'll go into a new roaring 20s as everybody let's lose. what about the fed and global banks, every time the market goes down, they step in. the old tina, you've got to buy stocks nothing else works what side of that would you fall on we'll tweet out that poll and see what you have to think tomorrow morning now with the chief investment officer from ubs, what makes it so difficult is that there are really good cases on both sides.

>> caller: i'm the kind of guy that when asked do you want vanilla or chocolate, i say both we know what the new world, the new normal looks like. more digital, more deficit stimulus we've seen that reflected with five stocks making up almost half of the s&p 500 gain but now to move higher we need the more normal which is the vaccine coming on line and people betting more normal in their lives and around the political environment. we'll get the step back with the uk now and the steps forward we don't know that order that will be the volatility. it could be probably through the election >> i didn't want to make light of what is going on in the uk. their lockdown we hear about is

far less severe than the situation many in new york and new jersey are going for there are countries and states with different ideas of what is going on there isn't a political will, even you look at the history and the 1920s. the roaring 20s was probably caused more by the end of the spanish flu than the end of the world war i. is it possible we could have a booming economy as everybody let's loose over the next few years. you are right to first note we are talking health care systems are overwhelmed. we are nowhere near that more restrictive and looking at case counts.

what you highlight is the chance of a booming economy the fed was to do more here now, then we got a stimulus then that could be even worse. a little bit until what they know the stimulus path will be on the fiscal side >> listen, not making light of cases at all i know we like to focus on cases in the media you've got to look at out comes. many hospitals are empty or nearly empty we've learned to treat it better, younger people are getting it and able to get through it i bring that up, i wonder if it alter's calculus

stimulus is debt debt that has to be repaid repaid through higher taxes, not just on the rich but likely the middle class as well >> caller: given the fact of the hospitalizations in the united states and that the fed hasn't gone through all its fire power. is there more room here? what we are look at is, yes, we are not going to see a fiscal cliff here but without further stimulus, it is much harder to know what is happening at the beginning of the year so both sides of this makes sense but we would know a lot more if we got either the stimulus or the vaccine or the fed to make a move

>> we'll get some new information. stay tuned in. i look forward to leaving a bar some day at 9:59 when we can finally go out again appreciate it. well, speaking of another drink, we are getting our coffee fired up on a tuesday. when we come back more, a big roll on the return to earth for the stocks forget politics. what is the real state of the vaccine race here with his take and the names you should be watching later on, tesla's big battery day. what did you get us? this next guest not buying into all the hype just yet. futures are basically flat rod. are turning aun we are back right after this ♪

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welcome back shirs of hsbc and standard charter falling. two stories. the big weekend report that multi-international banks flagged money transfers and how coast cases could flag another round. intel says u.s. licenses that will let it keep supplying items

to huawei. a new item put in place that will keep companies from working with chinese can companies >> series x goes on sale november 10 with a retail price of $499. company calls it the most powerful games console yet get your fortnite ready. microsoft stock up this year the battle for the senate heating up as the fight for the supreme court intensifies. we are tracking the money and who gets it and why it matters for you. >> announcer: today's big number, $118.9 trillion. that was the network of u.s. households during the second quarter. according to the federal

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to deliver your packages. and the peace of mind of knowing that important things like your prescriptions, and ballots, are on their way. every day, all across america, we'll keep delivering for you. we are seeing futures stabilizing. the dow down nearly 1,000. the nasdaq has turned into the green on an implied open basis

tech stocks did a big turn around some early morning winners we like to wake up on a tuesday, arguably the worst day of the week align, lululemon and sirius xm >> and headlines of a new york city police officer charged with spying for china >> the new firestorm for the cdc days after the u.s. krozed 200,000 coronavirus deaths a new change warning that ar sol droplets are the strongest way the virus is spread. that's when people cough or sneeze they have pointed to air-born

transmission since early february the fbi claims the man maintained a relationship with two officials at the chinese consulate. a community affairs officer serving in queens. claiming he used his role to gather information on free tib et and other chinese activists he could serve up to 55 years in prison if found guilty michael jordan is teaming up with deny hamlin signed to jordan's brand said on twitter, the move to own a naz car team can open new opportunities for black people in racing. calling this a once in a life-time opportunity. >> i wondered why -- i don't

know if you are a naz car fan. i watch every lap of every race in the world bubba wallace leaving and will me a big exciting new team to watch. >> with all the headlines nascar has been bringing with pandemic and more headlines, more attention to your sport there, brian. >> 30,000 fans at a race outdoors at 150,000-seat stadium. good news this morning thank you. straight ahead, leaving money on the table perhaps the understatement of the year when it comes to nikola founder and his exit package how disney bringing the magic back to hong kong after two months we are back in two minutes hey, dad!

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1,000 points at one time and then later in the day a furious rally coming back. technology stocks ending the day higher nasdaq finishing lower and rallied back look at that the fight overall major indices

as they are in the green we are back with more after this

futures are higher after a rally turn around yesterday. we are seeing a stock market that could open in the green the s&p and the nasdaq trying to avoid five session losing streaks. flat after a wild day.

billionaire investor going after one of his latest targets. the biggest and a stock very close to home. >> tesla's first ever battery day. musk taking to twitter to try to temper down some of the biggest expectations it is tuesday, this is "worldwide exchange" here on cnbc ♪ ♪ get your motor running ♪ head out on the highway looking for adventure ♪ >> welcome back and good tuesday morning. listen, we've already lived 48 hours in the last 24 for the equity markets stocks are slightly higher but not down 500 at one point, the dow jones was down nearly 1,000 points a lot of buyers stepping in leading to a furious rally

we'll explain that you'll want to see that will explain what is going on with the market volatility. we are now seeing the stock futures they are if not in the green, they are flat as well nasdaq and s&p down. all the way back since march when the lockdowns hit apple was a huge part of that come back yesterday. down 1% if it wasn't higher. apple made the dow finish almost flat with a price weighted index. before the split, apple was so highly priced. it wouldn't have mattered. apple stocks would have made the

difference yesterday inside the market, the work from home stocks again outperforming. zoom and docu sign up. oil also taking a big hit again on concerns of global demand also libya which has been having these war lords literally fighting over imports and exports allowing for new exports. what this market does not need for more supply. what we do need are more of your top stories. let's go again to bertha >> it is a day ending in y, so that must mean more uncertainty on the tiktok deal the stay backed global times

says china is unlikely to approve the deal saying current owner bite dakota dance will have no stake in the global company but bytedance says it will have majority ownership hong kong disneyland is set to reopen at lower capacity and only five days a week. it had reopened in june but closed again a i month later amid another outbreak. in corporate news, we are learning more about nikola founder's exit from the company. he will forfeit $166 million worth of equity and a consulting contract but he is getting more than $91.6 million shares worth

over $3.1 billion. shares of nikola plunging on news of his departure. that exit package a little less but not too shaby, brian >> now to washington and the new fight for power over filling the empty seat of ruth bader ginsburg let's get to where we stand now in the election battle >> all eyes are now on the senate as republicans are defending 23 seats during the november election. that is almost double the number the democrats are, even before the passing of justice ginsburg, the number of political adds is up 170% compared to last election cycle the top state $for spending, we

got current data that shows the money is flowing into north carolina, minnesota, maine and montana. 100 million in spending and states where republicans are trailing behind by five percentage points collins is one of only two republicans so far who has said the next president is the one that should choose the next supreme court justice. the new survey found 57% of likely voters said the supreme court would be important to their decision seeing the supreme court is more galvanizing for republicans than democrats. that may not hold true and why

both sides are gearing up to spend even more money before the election back to you. >> nothing is the way it always has been this is a very unique time, year and environment. we are not just talking about filling the seat of the titan ruth bader ginsburg but the court's make up for the next decades. this is a long-term play and both sides got to be extremely fired up >> absolutely. one thing that was interesting, 60% plus democrats said this was important. compared to only 50% for republicans. more republicans said that this was the defining issue for them

than it was for democrats. at the most intense passionate scale, republicans feeling this and a larger percentage of democrats than republicans that feel this will be an important issue heading into the campaign and election because of her historic role as the second woman to sit on that bench. >> certainly rest her soul in peace this could have been an rbi. we talk about the election being 42 days away that is on voting is occurring in seven states and michigan starts next week next week, michigan will have begun.

voting has already started >> that's right, so it did in virginia where i live, brian we are talking about not just election day but election month happening after november 3 also ahead of november 3 because so many people are already casting their ballots. >> take the kids, pack up, take route seven over snikers gap, get some hot apple cider at my home town of virginia. check it out thank you very much. >> my husband worked in win chester. we know that commute really well >> wow again, my mind is blown. >> thank you very much also tesla's first ever battery day, which a lot of you

are probably saying, wow, what is the battery day >> think about it, if you want to buy a tesla, most important is the range the batteries is everything. this is the first day tesla will unveil new plans and ideas in the market around batteries. there has been speculation about what he could unveil i he took to twitter to say we had some big ideas like the first ever prime day. no one knew what it was and then it became a big thing? do you think tesla's battery day will become a big thing? >> a lot of hype here. i think it is a paradigm

changer. that is the drum roll into this. the million mile battery as well as price, parity and third party battery supplier from valuation perspective, that continues to be part of the rerating >> tesla already has the market lead in that they go further than any car out there on the market. is s is there anything they can do to move the needle on the stock anyway >> you see competition not just in the u.s., nationally and in china. they need to continue to innovate on the battery. not just the heart and lung as

well as brand. going into today, it is a fork in the road. these have been the opportunity to really show us under the hood that's why this event has been anticipated for the last year. a huge drum roll the key is the million mile battery. the key is to the demand especially in china. >> like everything else, is this almost tamped down because of the lockdown and not being able to be there with musk. let's be clear these companies are doing a great job. it is not the same thing is does it take away from these?

>> yes it did. it is the excitement very similar to what happens at apple events a little is taken away here. they'll have to do it virtually. can they deliver on the news it is key to the tesla story for the long term. >> does all the nastiness around nikola and the problems there, does that take anything away from the tesla story >> i think it is contained more to the nikola story. it is a lot of pit falls as you go forward thereis only one musk, one tesla. everyone is looking for the next one. it is hard to find that with a

moat in the ev world >> waiting on tesla's battery day. it is said it could go to 4:75 $700 coming up, better late than never. the market coca-cola would like to disrupt we talk vaccines politics aside, where are we to develop a real working vaccine more here. as a reminder, the conference is coming up over the 10th year the gentleman that runs saudi aramco, we are back right after this

my name is joe. i'm a sustainability science researcher at amazon. climate change is the fight of our generation. the biggest obstacle right now is that we're running out of time. amazon now has a goal to be net zero carbon by 2040. we don't really know exactly how we are going to get there. it's going to be pretty hard. but one way or another we're going to reduce our carbon footprint to net zero. i want my son to know that i tried my hardest to make things better for his generation.

♪ i keep working my way thaback to you, babe ♪t ♪ 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. so much attention and focus is on a vaccine.

when will we get one it has become an extremely political topic as well. joining us again is biotech analyst. he's been on this from the beginning. proud to have you on again we hear so much from both sides. not until next year. we look at just the data or the facts. when do you think we'll get some kind of a wrking vaccine i think in november this year, we are likely to have data and as soon as the end of the year, for key people like the elderly and key responders.

>> so when widely available? >> i say sometime between first and second quarter next year you'll have full approval that will allow for the a wide sweep of the population. >> seems like a three-horse race is there a clear leader right now? >> in the u.s., pfizer and moderna are ahead. astra's trial remains on hold but may begin again this week. >> we talk so much about who might create the vaccine like from will be one company it is not a zero sum game.

it is ponl others could end up winning. could they not >> it is likely we'll see more than one vaccine initially, you can only vaccinate about 20 million people we'll need more than one vaccine for the population >> looking at the population size your point is well taken around covid, i'm going to ask you my questions what are the biggest questions you are getting right now. what do they want to know?

>> you are right on target here. the vaccine is a big question for everybody with biotech and how that impacts reopening is important and the other impact which is antibodies. >> you cover 38 biotech stocks i don't know how you do that the virus is going to move on. are we missing out on opportunities because of our narrow focus on covid-19

are there a stock or stocks that deserve more attention outside >> there is a lot of interesting developments in neurology and major developments across the spectrum of auto immune diseases we are very focused on am again. we have three major read outs for the year we think that is interesting for the year >> you just wrapped up the conference was am again one of the more exciting names to come out of that >> it was. management is very bullish on that through the end of the year >> appreciate your views here. thank you very much. >> thanks, brian

let's hit a few big stocks to watch this morning. one very close to home billionaire investor and his firm taking a big stake in a company called comcast our parent company saying they believe that stock is under valued they bought about 20 shares 0.4% they may try to extract value out. a u.s. court has agreed to fast tact the tiffany lawsuit of lvmh trying to back out of the deal to buy tiffany because pandemic. and coca-cola with plans to enter the u.s. hard or seltzer market their ceo on mad money >> we are going to follow the

consumer in the old days, they were more regular meanted. these are concerned to the consumer looking to new things this one will stay laser focused on the market and your money why do we say negative safe sentiment and what is that weird looking chart? here it is every week, or every month, they are published there incentive gains. that is nasdaq 100 futures you can see on the far right

side of your screen not only going back year to date, if we expand the data, it is the most negative turn of the decade. that chart says big players, about two weeks ago began to take tunes of very negative bets as well. is this really in the weeds type stuff. of course it is. it is 5:40 in the morning. fur watching cnbc maybe on a treadmill or peloton, you don't might going in the weeds, i don't either

>> our next guest, head of research and strategy at global x etfs the perfect person to have on after that rbi i'm not sure it made a lot of sense but the point is this are you seeing that on your etfs >> you are seeing other sectors we have to put that in the context. on the terror from march lows. some people are taking more stocks it does not change the long-term company here in the last 10

months or the last 10 years. >> you've got a cloud computing. it has been read hot do you see any cooling off of that space it is really critical as we are seeing with trading floors open and closed and the uk government opening and closing back home. very uncertain environment that will continue to use video conferencing and video channels. we see cloud computing remaining very critical in the uncertain period >> we don't have time to get into it now. the globe al internet of things with names like dexcom

we have to leave it there. we'll get you back on soon folks, that wraps up a jam packed hour. futures, we'll call them flat right now. dow and nasdaq looking to open four and five losing streaks will that happen today stay tuned to find out we'll see you tomorrow on "worldwide exchange. have a spectacular day take care. give you my world ♪

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good morning stocks moving around searching for a direction this morning after yesterday's selloff. is the lockdown trade back that debate is straight ahead.

elan muskdo down playing the excitement ahead of the battery day and to london where prime minister johnson is expected to announce tighter coronavirus restrictions ed to, tuesday, september 22, 2020 we love summer and we are sad to see it go. "squawk box" continues right now. good morning welcome to "squawk box." we'll start with the markets after yesterday's big selloff. if you were watching this, this was someth