it is 5:00 stocks looking to close out an already sour month on a low note futures point to triple losses for the dow. nothing but chaos in cleveland as president trump and former vice president go head to head in the first 2020 presidential debate the 17-year wait is over for wall street as palantir gets

ready to trade today still feeling the burn from the pandemic, disney announcing a huge new round of layoffs hitting some 30,000 employees. and the path forward for new york city as indoor dining begins today september 30, 2020 you are watching "worldwide exchange" on cnbc. good morning, i'm dominic chu kicking off the third quarter of trading take a look at what's happened over the last 12 hours the dow indicating 150 points to the down side. the key to watch here down 83

implied at the opening bell. take a look at what's happening here with the overall futures picture. as we've seen, we are just off the lows here. we did get the green a little overnight. hit the lows here about 2:00 a.m. eastern time. that was coming off another downed day for stocks. major averages snapping three-day win streaks. they are set to close down for the first time since march the one stand out is the transportation industry. dow transports, some look at that as a possible leading indicator for the overall economy. for the quarter. up 23% on pace for the best quarterly performance since

1989 it has been a while since we put dow transports in that positive a light. more after a 3% loss yesterday on track to end the month down 8% crude prices down for u.s. benchmark wti crude. around the world ending the month on a mixed note despite closing higher on the day. the nikkei off 1.5% as well. red arrows in europe too the cac in france off about one-third of 1%. germany's dax lower for september but higher by 4% over the past three months. back home, more rough news for nearly 30,000 theme park workers

at disney. good morning >> sad times in the magic kingdoms disney will layoff nearly 30,000 employees where they've been hammered by the pandemic especially in california two thirds will be part time employees. parks unit chairman said the move is, quote, heartbreaking. adding that management tried avoid layoffs cutting spending they had cut several thousand. shares off more than 2.5%. it is deadline day for the u.s.

airlines and roughly 40,000 industry workers whose jobs hang in the balance. at midnight tonight, the support expires. airlines are in a full court press to persuade congress for a bailout that would protect jobs for another six months at least. >> the u.s. justice department expected to sue alphabet's google urging the state attorney's general to sign on to the lawsuit that will accuse google looking to disadvantage companies like microsoft with the data needed to advertise to people the justice department declined to comment on the report we'll have to wait more than that not very happy headlines today >> not at all.

always in the crosshairs as well bertha, we'll see you later on to the campaign trail and a night of what many are calling chaos. president trump and former vice president joe biden went head to head the two spend the better part of the debate talking over each other, cutting each other off and making personal attacks and giving the moderator a run for his money trying to make sense of order >> you have promised to repeal and replace obama care but you have never in these four years to come up with a plan, a comprehensive plan -- of course i have >> i will try to give you an opportunity -- >> excuse me >> sir let me ask my question

>> i'll ask joe. >> no. mr. president -- >> we will protect people -- >> i'm the moderator of this debate i would like you to let me ask my question and then you can answer >> nbc's tracie potts with us. i'm sure for many americans it felt like fingernails on a chalk board with the talking over each other. how does it feel the day after >> kind of the same. this was tough to watch. if you went into this debate looking for substance on some of the issues, it was hard to find. >> can i be honest >> try to be honest. >> an absolute free for all at times. 90 minutes of constant interruptions with fox news

moderator losing control >> gentleman, i hate to raise my voice but why should i be different between the two of you. >> the two often combative >> don't ever use the word smart with me. >> give me a break >> the president went after biden's son hunter >> he was thrown out for cocaine use. he didn't have a job until you became vice president. >> devoefled into a hashtag. >> will you shut up, man >> shut up man on twitter now. >> you are the worst president america has ever had >> in 47 months, i've done more than you've done in 47 years >> trying to draw out differences. >> i paid $38 million in one

year i paid $37 million >> show us your tax returns. >> you'll see it when it is finished >> the president calling out white supremacist groups >> what do you want to call him. >> biden trying to distance himself from the left in a debate that struggled for substance. >> then there was an important moment at the end of the debate when both candidates were asked, will you accept the election results? >> biden said, yes trump said if i see fake ballots or ballots being tampered with, no >> thank you for that update more on the market reactions and what we've heard and saw last night, with el come to our cnbc

contributor. jeff, i'm at a loss forewords. i've never seen anything like it in a presidential debate is there a market impact i look at the futures over the past 12 hours. there was movement it is hard to pin it in the debate and the severity in the moves relating to it >> we are all shaking our heads. with a football statement, 11 guys on offense and defense and they are still laying on the turf the takeaway for investors is the fact that the biggest nugget we want to take away is that this is not going to be over on the typical first tuesday of november like it is every four years. when we figure out there is going to be postage stamps

that is the acute reaction but remember, a lot of the noise is anticipated we have 35 days of a lot more noise. this last day of september 30 is more important that will trump, if you will, what we saw last night interesting to see the market when apple tested its average took it back that's the leadership that will close the end of the third quarter and lastly q 4 that leadership we saw in 2020 in tech will provide leadership once we get past this. we'll not see this end that is the biggest take away, dom. >> november 3 is the key here. we know the election is a catalyst it is a point in time to benchmark against how much the actual debate in congress will point out how much is in a relief package

how much is that concerned about the election at this stage right now? >> that hit the biggest point. amplified 100% we are looking for this 2.2 tril your honor stimulus package. that carries a lot more weight we'll have expectations of a similar free for all in the second and third debates mnuchin and pelosi have an opportunity to unite the country in the wake of disney, we'll have more unfortunate news of layoffs. that's why that stimulus package is so important going forward. how are you going to approach the next four to six weeks with positioning and trading activity are you going to be doing a lot or a little?

>> it is the time to be dynamic and active that's the theme in 2020 sitting and being inactive has take its time. saying away from sectors with weakness look how weak the sectors are, how weak sectors like energy are. we get excited about transportation and home builders we don't shy away from big tech. we'll reduce exposure from the big tech but we are excited about software itv, esg now more than ever, you have to understand what you have exposure to. if we do get this stimulus package, this optimism and bullishness will continue. the trajectory despite all the

noise is that the markets are moving higher. >> when we come back, why general motors says it is sticking by nikola and why shares of regeneron are surging this morning later on, a first-hand look at indoor dining in the big apple we speak with one restaurant owner with a lot on the line ♪

welcome back let's get a check on some of the stocks on the move today general motor says it is continuing their discussion with nikola when the deal was announced, nikola expected it to close before september 30. since then, the founder resigned after the company accused of fraud. nikola denied allegations. you can see general motor shares

up, nikola down. >> regeneron drug helps threat covid-19 in early stages preliminary results could produce an eua from the fda that may allow the drug to be prescribed the company's cofounder and chief scientific officer will join "squawk box" this morning at 7:20 a.m. eastern time. >> micron expects to see significant sales hit this quarter d quarter primarily due to shipments to huawei. shares off 4.5% pre-market still on deck, the nearly 20 year wait is over on wall street as the once secret palantir

takes off today. we'll speak to one investor.

. welcome back to "worldwide

exchange." indoor dining is resuming in new york city today. the move comes more than six months after the eateries were forced to shut down. many were forced to shift their entire business models many with outdoor dining and indoor dining set at 25% these places are facing their make or break moments. with our guest, flip siggy a filipino taqueria, are you optimistic about the given restraints >> with my restaurants, 25% capacity means two or three people the amount of labor it will take

and costs sand safety of the staff and guests it is going to create more of a headache >> that is a good point here most restaurants aren't these massive operations many of them are smaller businesses like yours. do you feel your sentiments echo the other small purchase business owners in new york city right now? >> without adoubt. so effectively to pay rent and cover costs. >> i know there is not a lot of clarity.

you have been able to cope relatively well given take ouour dining out type business >> we've exceeded a little because of a fast casual, we've been able to do more business and have more seating outside. before we had about 12 seats, now we have 32 outside we have been fortunate but not a lot of restaurants have that ability what exactly can you tell diners or potential diners in america about whether it is safe to go and eat at restaurants again. >> i can say with confidence

that we are doing everything we can to make a livelihood which means being as safe as possible for guests and employees i would say most restaurants are doing everything they can for us to open up and start back to business the restaurant industry is really hurting right now >> before we leave, what is the one thing you'd like to see from new york state and the governor's office to help restaurant owners out here >> there needs to be more clarity and some kind of level ahead of compliance with who is governing what body. from the department of health, sla, fire, each agency polices differently. i'd like a blanket statement on how we could do this and move forward together >> jordan, thank you for joining us we appreciate it >> thanks for having me.

a wild night in cleveland. after the first 2020 presidential debate, the key investor take aways. a programming note, the news with j with shepard smith premiers tonight. 7:00 p.m. on cnbc. ♪ you can go your own way

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continue with futures suggesting a negative finish for the month of september chaos in cleveland with a faceoff in the first debate. >> he graduated either the lowest or almost lowest in the class, don't ever use the word smart with me. >> give me a break >> there is nothing smart about you, joe 47 years you've done nothing >> you are the worst president american has ever had. >> the question is -- >> will you shut up, man >> and that was tame we look at the takeaways and palantir set to make its public trading debut. wednesday, september 30, the end of the month you are watching "worldwide exchange" on cnbc.

♪ the s&p would open lower about 28 the nasdaq down 123. has been the outperformance and the underperformance or down days coming off another downed day overall. barring any kind of massive rally today. they are all set to close down for the month. the one stand out is the transportation stocks.

the dow is now higher for the month. also on track for the first six month winning streak since 2013. by the way for the quarter, it is up 23% and going all the way back to 1989 to this morning's top story president trump and former vice president joe biden come together for what turned out to be a vicious presidential debate no shortage of insults and clashes. eamon joins us with more and all the sound. ie i've never seen or heard anything like it the amount of controversy and name calling was beyond anything i've ever seen >> nobody in the united states has ever seen anything like this this was by far the nastiest

debate in american history the monday taj of insults you just played is 23 seconds. we could have put a half hour version. that's what this debate was. each man insulting, embarrassing and trying to box in the other candidate. there is not much actual substance discussed for the few remaining voters trying to make up their mind. occasionally, they touched on one or two elements of political discourse we are kind of used to joe biden going after donald trump on the issue of health care here is that moment. >> he hasno plan for health care >> of course we can. >> please. >> he sends out wishful thinking he sends executive orders with no power he hasn't lower drug costs

he has none like almost everything else he talks about he does not have a plan. >> for his part, the president trying to pin down joe biden not on the side of law enforcement >> he doesn't have any law -- >> will you just. >> he has no law enforcement -- >> that's not true >> what do you have? name one group that supports you? go ahead think, we have time. >> we don't have time to do anything folks. folks. >> name one group that came out to support you >> gentlemen >> the viciousness of this debate underscored the tribalism and anger of american politics the question now is will there

be two more debates as were scheduled. >> at least they were standing next to each other the only thing that would have made it more awkward would be to have them on zoom. stay with us for more, i want to bring in economic policy analyst and cnbc contributor and stephanie from aberdeen developments. stephanie, i'll start with you there is a debate whether or not any kind of policies talked about last night will have any baring on the markets going down the line should investors be paying attention to the rhetoric? >> i think investors should think of last night in two ways. one is what didn't happen and the other is probably the underp underperformance on biden.

we know he's held that strong lead the initial polling says that biden won last night i don't know that anybody really thinks there was a true winner the takeaway that president trump won't commit to a peaceful transition of pow you are. it is not election day it will be election weeks. in that time, expect a lot of noise and a move forward contesting results especially in states where it is tight expect a really uncertain election period. >> jimmy, i wonder whether or not the u.s. economy is being ham strung by what is happening with this debate, the election coming up and negotiations out of congress for a new

coronavirus aid package. what is the economy doing if we can get past many of these issues >> that's a good point one topics last night would have been do we need another fiscal stimulus package and is that going to happen. asking the candidates what they think and then you'd need another one after that what is your exact plan in 2021. i have a pretty good idea what the biden 21 plan is the president has not been clear about his second term agenda all of those things would have been fantastic the best headline the president could have gotten, if you looked at facebook trending or twitter, it would have been all about his economic plans for 21. that is certainly not what happened most wall street firms, their more bullish forecast depended

on there being more stimulus maybe that still happens sort of seems unlikely you got no clarity from that debate about that or what the president thinks we need to do for 2021 >> eamon, i want to turn to you for a moment the notion right now we've seen some recent polling data that suggests the vast majority of americans have already made up their mind with regard to who they are going to vote for with that in mind and the debates looming, should we expect to see any kind of real movement what can these candidates say that will change anybody's mind at this stage? >> look. it is going to be very tight our polling has shown that joe biden has a lead in all battleground states. each week, we've issued one of

our polls in most states, it is an existing lead you are looking at a couple of key counties inside these battleground states where there might be persuadable voters. this is all about amping the turnout for your side. this wasn't a debate about issues or policies this was a debate about alpha male posturing and dominance behavior and both sides trying to show their base get fired up and get to the polls joe biden had a couple of effective moments where he spoke to the camera and said we need you to get out there and vote. this was a mobilization debate rather than a policy debate.

>> what is the most important thing each candidate can say >> the week before perfect the election, there will be a gdp report out it will be a massive number. it has to be i would be talking about the economy when that gdp report comes out, it is going to sink with the message that he built the greatest economy before and he's doing it again. that might have some impact at the margin as far as joe biden goes again, i love policy eamon is right that's my bias i would make sure the voters knew, trump still in the polling area they go to the voting booth and mail in those ballots, they have a good idea of what joe biden will do and how joe biden will get things down to 3.5%.

>> stephanie kelly, as you take a look at what willhappen in the coming weeks, is there any real market reaction that could happen given that we may not know an outcome for weeks? >> absolutely. i think there could be quite a lot of market angst about what will happen. if polls were to tighten significantly, i think that angst will be larger the more potential for results and the drawn outdebate led by the president and whether the election itself can be considered valid and considered potentially look at states and find ways to convert or protest results. you'll continue to see markets more concerned as we move forward and move closer

particularly as polls begin to tighten more >> thank you all very much for participating in that discussion a big night. just this past debate. we'll see coming up on this one. >> coming up, good news from one company leading the charge on the vaccine front. as we head out to break, some other top stories. world trade organization, wto, has reportedly authorized the european union to impose tariffs on $4 billion of u.s. goods. that comes in response to american subsidies that favor boeing over its support of airbus speaking of boeing, wall street journal is reporting that the maker is planning to move the assembly of the dream liner aircraft to south carolina

plants no word what this means for seattle emplo iys. and global deal making soared to $456 billion as companies turn to mergers and acquisitions to bear the brunt of the pandemic

welcome back let's check out some of the stocks on the move from earlier today. results from early study of moderna shows it produced antibodies in older adults similar to those seen in younger people study shows side affects are on par with the flu shot. testing higher dose in a phase three trial. moderna shares are up. and wsj reports duke rejected the move from nextera. duke energy has a market value around $61 billion that acquisition could be the

largest utility deal ever. royal dutch shell plans to cut up to 9,000 jobs or up to 10% of its work force. part of the move 0 to cut the duks of energy in british trading, about flat on the day >> and palantir to debut today under the ticker pltr in a direct listing similar to slack and spotify. the once seek tiff company founded in 2003 provides software and data to government agencies and corporate partners. united, bp, merck and airbus backed by trump supporter and early facebook investor. company ceo striking a similar tone to tale in the company's s

1 filing on its option what is seen as traditional silicon valley ideals, saying, quote, the engineering elite of silicon valley may know more than most about building software but not about how society should be organized or what justice requires. our company was founded in silicon valley but we seem to share fewer and fewer of the technology values and commitments. big words from the ceo >> to our guest. thank you for joining us here. take us through what the public offering would be. >> as you mentioned, i am a

private investor i've been vesting in private companies for over 50 years. i look for similar patterns why industries evolve over time. that space is a data mining, processing company as my career have been in digital advertising, this will come into the space in early 2000s, i learned quickly that data and data processing will be the future looking for a couple of investment opportunities in the space. when i entered palantir in 2013, it felt clear they were doing something different in a space helping companies and government

entities to mandate that data. a lot of companies in the past have not seen the data nor have they been valuing the data enough the first to make facebook and now tiktok coming out. so data would be more important. my investment in palantir really started as i need to get into data companies with a trajectory >> tim, i wonder, private investors are different than others when you were looking at palantir as an investment, you mentioned the data were there things that worried you? when you committed money to it it has been a company very controversial, shrouded in se

secrecy? >> it is a predictable business model. i look at this objective here, right? from my perspective, staurting a business is not necessarily a bad thing. when you work for government in general, secrecy is your bread and butter it doesn't surprise me they've been secretive about their specific ip. a software company, really, their only asset is their algorithm, their software and their people if that is the value, you want to keep it as long as you can, right. they have to open up

but it makes me very happy that more than 50% now are commercial clients. that is something they would draw much more in the future >> that big debut coming up. thank you for those insights we appreciate it >> as we head to break, a programming note, delivering alpha. 10th anniversary back with us, treasury secretary, steven mnuchin, and more a small sampling of the big slate coming up. still ti tmeo register go to delivering alpha.com we are back after this

welcome back to "worldwide exchange." major averages prepare to close

down the first time since march, by the way. let's talk about the debate and politics should investors care? >> they certainly should they have to sort through. for the president and vice president to focus on issues and remain calm especially on those things that were key >> what was the most impactful part of the debate when it comes to markets and policy? >> it probably was distinguishing the difference between the two. for former vice president biden,

there wasn't a big key that he would be able to keep from spinging too left. for the president, he was too aggressive with biden from the start let's talk investment strategy in the debate and election outcomes. is this a bull run that has legs regardless who is in office? this is still a bull market. the process of reopening without a second wave of covid, if we can get through the section here if we can get the stimulus

through the extra program, we could very well see the market move higher from here. that said, underlying trend in a world that is diversifying the supply chain away is a positive trend and developments that affect both medicines and every other factor focus on the economy the data we get will be important related to jobs also take a look at the gdp which will be lower on an annualized basis what we are looking for is ism manufacturing and services >> about 15 seconds here should you be buying megacap and

dips gret to get your thoughts. >> that does it for us on "worldwide exchange. "squawk box" picks up the coverage next. is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most plus $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today.

good morning off the rails. the first presidential debate deinvolved into name calling and interruptions. the moments that mattered the most disney to layoff 28,000 employees with theme parks

either closed or open at limited capacities gm isn't expected to close the on the deal with nikola after the founder was accused of fraud. it is wednesday september 30 "squawk box" begins right now. >> good morning. i'm joe kernen with becky quick and andrew ross sorkin people are calling it a hot mess in a dumpster fire also involved in a train